Sharplink, Inc.

Good morning, everyone, and thank you for participating in today's conference call to discuss Sharpling's Q2 2025 financial and operating results. By now, everyone should have access to the second quarter 2025 earnings press release, which was issued yesterday afternoon at approximately 4.05 p.m. Eastern Time. The release is available in the investor relations section of Sharpling's website. This call will also be available for webcast replay on the company's website. Following management's remarks, we'll open up the call for Q&A. I will now turn the call over to Sharplink's Vice President of Corporate Communications, Dodie Handy, for introductory comments.

Well, thank you, Operator. Please see Sharplink's filings with the SEC and the earnings press release this morning, which lists some of the factors that may cause the results of Sharplink to differ materially from what we say today, and which identify some of the risks and uncertainties that could affect our business, prospects, and future results. SharpLink assumes no duty and does not undertake to update any forward-looking statements made by us during this call. This call is based only on information currently available to us and speaks only as of the date when it is made. In addition, we may be discussing or providing certain metrics today, such as ease concentration, that are not gap metrics. Please see our earnings press release and SEC filings for further information regarding these metrics. To set the agenda for today's call, we're going to begin with Sharplink's chairman, co-founder of Ethereum, and founder and CEO of ConsenSys, Joseph Lubin, who will outline the company's mission, vision for Ethereum's role in the future of global finance, and the macro trends driving Sharplink's strategy. Next. Co-Chief Executive Officer Joseph Shalom will discuss Sharpling's ETH treasury strategy in detail, including how the company will scale its ETH holdings, activate ETH to generate yield, and leverage capital markets to accelerate growth and drive stockholder value. Mr. Shalom will be followed by our co-founder and Co-Chief Executive Officer Rob Pithian, who will provide an update on Sharpling's affiliate marketing business. And then finally, Chief Financial Officer Robert DeLucia will review the second quarter 2025 financial results and key performance metrics related to Sharplink's East Treasury. I would now like to turn the call over to Sharplink's Chairman of the Board, Joseph Lubin. There you go, Joe.

Thank you, Dodie, and good morning, everyone. Today marks the start of a new chapter for Sharplink. Our first earnings call is a company fully aligned around a single powerful mission to become the world's largest and most trusted Ethereum treasury company. This earnings call represents the very first opportunity for SharpLinks leadership to talk with our fellow shareholders since launching this exciting new journey together just a few months ago. I'd like to share a brief introduction on myself and provide a look back at Ethereum's origin story. In 2014, I was part of an extraordinary group of people who co-founded Ethereum. Bitcoin was around five years old and starting to show signs of anti-fragility and staying power. And Ethereum's big idea was to create a single blockchain that could power all kinds of different assets at the same time. If you could have all kinds of different assets on the same blockchain, then maybe they could interact. You could write programs, we call them smart contracts, to control that interaction and put those on the blockchain too. The vision was that the Bitcoin was the world's first digital asset Ethereum would be the world's first digital economy. And that evolution has played out pretty much as we envisioned. Before Ethereum launched, I founded Consensus AG and later Consensus Software Incorporated to be a commercial counterpart to the nonprofit Ethereum Foundation. Consensus introduced products like MetaMask, which is now the most popular crypto wallet in the world, and Infura, which is the most popular way for developers to access Ethereum and other blockchains. ConsenSys has been a major builder and operator of the Ethereum protocol since the early days. We catalyzed global adoption of Ethereum, incubated and invested in hundreds of Ethereum native startups, and helped pioneer new technologies like staking, smart contracts, and zero knowledge proofs that are scaling Ethereum today. On July 30th, just two weeks ago, I marked the 10th anniversary of Ethereum's launch. by ringing the NASDAQ closing bell with my friend Dankrad Piest, the protocol architecture co-lead from the Ethereum Foundation as part of a global celebration of network and ecosystem that took place around the world. NASDAQ shared with us that this was the largest activation of the year for them, and I'm not surprised. This is another data point indicating that traditional finance is onboarding to decentralized finance. Today, Ethereum secures hundreds of billions of dollars in digital assets, processes trillions of dollars of transactions each year, and is home to products from Wall Street titans like BlackRock, Fidelity, Apollo, Franklin Templeton, JP Morgan, and many others. What began in 2015 as a bold vision for decentralized computation has grown into the foundation of a multi-trillion dollar opportunity, spanning DeFi, stable coins, tokenized assets, and more. From bootstrapping a small developer community to powering trillions in economic activity, Ethereum's growth has been exponential for a decade, and we're still just getting started. For those who are unfamiliar, Ethereum is the technology platform that sits underneath most of the stable coins and other digital assets in the world, and gives them the ability to do what they do. So the fact that they settle in real time, the fact that they're borderless, the fact that they're programmable, all the things that make digital assets great, that comes from Ethereum. It's a decentralized technology like the internet that acts like a public utility and does that so well that it's become what CNBC calls Wall Street's invisible backbone. The beating heart of all this activity is a revolutionary decentralized trust system called proof of stake that allows Ethereum to secure and validate all these different transactions. And at the heart of proof of stake is Ether or ETH, the native digital asset of Ethereum. ETH is an extraordinary asset. It's an excellent store value. It has been deflationary at multiple points in time. When staked, it earns a productive real yield of approximately 3%, and it's also a growth asset. Historically, ETH market cap has grown by about $1 for every $2 of high-quality liquid assets secured on Ethereum Layer 1 and Layer 2s. The ETH macro opportunity is real, and we believe it's still very early in its life cycle. For perspective, stablecoins today have a total market cap of around $240 billion, with the US Treasury Secretary Scott Besant recently stating that $2 trillion is a very, very reasonable market cap for dollar-backed stablecoins by 2028, and he could see it greatly exceeding that. Tokenized security is around $25 billion today, but are projected by Boston Consulting Group and others to reach up to 16 trillion by 2030. We believe SharpeLink's ETH treasury strategy positions us at the center of this multi-trillion dollar shift, giving our stockholders exposure to one of the most disruptive trends in capital markets history. This is a structural opportunity on the same scale as the Bretton Woods Accord and Nixon's closing of the gold window in 1971 which laid the foundation for decades of falling US treasury rates and rising bond prices. We're on the same scale as that of Japan's boom and bust in the 80s and 90s, which set up three decades of low interest rate yen borrowing for carry trades. At this moment, we're positioned to benefit from a multi-decade progression towards a digitized and decentralized economy, a shift that has accelerated since the inception of Bitcoin and is now gaining meaningful institutional adoption and legislative support. This will put a persistent bid under digital assets like ETH and Bitcoin that are leading the drive to decentralization. This macro shift from intermediated platforms to digital decentralized systems is powering what we believe will be one of the most significant capital market transformations in history. Legislators in the US are writing new rules for Web3 the re-decentralization of the World Wide Web, and Paul Atkins and Hester Peirce just initiated the SEC's Project Crypto to accelerate market structure in this direction. As investors recognize this dynamic and the paradigm shift that is underway, we're seeing a major surge in institutional interest and adoption. ETH is rapidly emerging as the core institutional, functional, and productive digital asset and Ethereum as the emerging rails for institutions, asset issuers, builders, and even AI agents, with demand accelerating seemingly every day. To further discuss how Sharpling is uniquely positioned to capitalize on this generational market opportunity, I'd like to turn the call over to our newly appointed Co-Chief Executive Officer, Joseph Shalom. Joseph?