Ethereum attracts Wall Street elites to join, SharpLink heavily purchases staked ETH

The financial world has once again witnessed a veteran turning to the cryptocurrency sector. Joseph Chalom, a former executive with many years at the world's largest asset management firm, recently announced he is joining the publicly listed Ethereum treasury company SharpLink Gaming as co-CEO, marking a new chapter in his career.

This personnel change has attracted market attention. SharpLink Gaming has significantly increased its holdings of Ether, purchasing over 77,000 ETH and staking them all. Currently, the company holds approximately 438,000 ETH, closely following another ETH treasury strategy company, Bitmine. The two companies are competing to become the "ETH version of MicroStrategy," actively increasing their ETH holdings.

Under the influence of Tom Lee, the chairman of the board and senior analyst at Bitmine, the company attracted significant investment from renowned investor Cathie Wood's Ark Invest. In contrast, SharpLink's support team mainly comes from the cryptocurrency sphere and urgently needs a leader with connections in traditional finance to attract Wall Street capital, making Chalom the best candidate.

Joseph Chalom holds a Bachelor of Arts in International Relations from Johns Hopkins University and a Juris Doctor from Columbia Law School. His career began as a corporate and regulatory legal advisor, having served as a senior attorney at several prestigious law firms, providing legal services to large corporations.

In 2005, Chalom joined a large asset management company and began to venture into the fintech sector. He served as the Chief Operating Officer of the solutions division of the company, leading the productization and external expansion of a global institutional-level risk control and investment management platform, transforming it from an internal tool into a core fintech hub serving over one trillion dollars in assets worldwide.

In early 2020, Chalom was promoted to Managing Director and Head of Strategic Ecosystem Partnerships, fully responsible for strategic planning and execution in the fields of data and indices, digital assets, and technology ecosystems. He led collaborations with several leading digital asset infrastructure institutions, deeply connecting traditional asset management platforms with the blockchain ecosystem through cross-industry joint ventures, technology integration, and product promotion.

SharpLink Gaming founder and CEO Rob Phythian will gradually transition to the role of president and continue to stay on the board, leading the company’s development alongside Chalom. The chairman of the company stated that Chalom has an outstanding influence in promoting institutional-level digital asset applications, and his joining is a strong endorsement of SharpLink's Ethereum treasury strategy and the company’s vision that "Ethereum will become the global financial infrastructure."

To attract Chalom to join, SharpLink Gaming has offered a generous compensation package. According to a report submitted by the company to the U.S. Securities and Exchange Commission, the total hiring cost amounts to $12.5 million. This includes an annual fixed base salary of $750,000, an annual performance bonus of up to 150% of the base salary, and $7 million worth of restricted stock units as a one-time signing bonus. In addition, the company has set a minimum incentive amount of no less than $4 million for Chalom in the fiscal year 2026.

Under Chalom's leadership, a large asset management company launched several cryptocurrency-related products, including Bitcoin ETFs and Ethereum ETFs. These products quickly became market leaders, managing a considerable amount of assets. In addition, Chalom also launched the first tokenized government bond product based on Ethereum, providing institutional clients with an innovative solution that combines compliance and liquidity.

Chalom holds a positive attitude towards cryptocurrencies and blockchain technology. He stated that despite the volatility of the cryptocurrency market, its market value remains considerable, and the development of these technologies has created opportunities while also increasing efficiency. As Chalom joins SharpLink Gaming, the industry looks forward to him bringing more innovation and development opportunities to the company.