Sharplink, Inc.

Good morning everyone and thank you for participating in today's conference call to discuss Sharplink's financial and operating results for the year ended December 31st, 2025. By now, everyone should have access to the full year 2025 earnings press release, which was issued this morning at approximately 8 o'clock Eastern Time. This release is available in the Investor Relations section of Sharplink'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'll now hand the call over to Sharplink's Vice President of Business and Legal Affairs, Dodie Handy, for introductory comments.

Thank you, Operator. Please see Sharplink's annual report on Form 10-K filed last Friday afternoon with the SEC and the earnings press release which crossed this morning. These documents list some of the factors that may cause the results of Sharplink to differ materially from what we say today and which identify risks and uncertainties that could affect our business, prospects, and future results. Sharplink ascends no duty and does not undertake to update any forward-looking statements. Any forward-looking statement made by us during 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 ETH per share, that are not GAAP 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 will begin with Sharplinks Chairman, Co-Founder of Ethereum, and Founder and CEO of ConsenSys, Joseph Lubin. Joe will be providing a broader perspective on Ethereum's continued evolution and institutional adoption shaping the digital asset economy. Next, SharpLink's Chief Executive Officer, Joseph Shalom, will discuss the company's strategy and execution as an institutional-grade ETH treasury platform, including key accomplishments from the full year and our priorities looking ahead. Finally, our Chief Financial Officer, Bob DeLuccia, will review Sharplink's results for the year ended December 31, 2025, and key performance metrics related to our ETH Treasury. So, with that said, I'd now like to turn the call over to Sharplink's Chairman of the Board, Joseph Loving. Joe, the floor is yours.

Thank you, Dodie, and good morning, everyone. As Dodie mentioned, I'm the Chairman of Sharplink. co-founder of Ethereum and founder and CEO of ConsenSys. I've been involved with Ethereum since its inception, and I want to start by grounding today's discussion in what has fundamentally changed and why 2025 represented a decisive moment in Ethereum's evolution. This journey has not been and will not be linear. We can't ignore the price volatility is present, but it does not negate progress. Volatility is a feature of new financial architectures, particularly in their formative years. ETH is a foundational element of a startup economy, and when that economy becomes larger and more established, ETH will become far more valuable and much less volatile. Even today, with the price volatility we've seen, it could not be clearer that Ethereum has become the financial backbone of on-chain markets and the dominant settlement layer for global digital finance. Ethereum and its Layer 2 ecosystem secure approximately 60% of all stablecoins and tokenized real-world assets, and over two-thirds of total DeFi value. For much of the past decade, Ethereum and decentralized financial infrastructure was often described as an experiment or an impractical vision. With the adoption we're seeing, It is clear that phase is now firmly behind us. The decentralized trust that the credibly neutral Ethereum platform uniquely provides has scaled just in time for a financial system that desperately needs better forms of trust, interoperation, and collaboration. What we saw in 2025 is that institutional adoption profoundly accelerated. This is visible in the media with the constant drumbeat of announcements from financial institutions, large and small. But what is visible is only the tip of the iceberg. Institutions have gained experience with private permissioned Ethereum networks for years. In 2025, global regulators and legislators began to give institutions permission to build on and use public permissionless Ethereum in addition to more private and confidential networks, which will increasingly take the form of Ethereum Layer 2s. Top financial firms are not just facilitating investment in ETH, they're actively building on it. For example, just in the latter half of 2025, Fidelity launched a tokenized money market fund and built its stablecoin FID on Ethereum. BNY Mellon partnered with Securitize to launch a tokenized AAA-rated collateral loan obligation fund on the public Ethereum blockchain, and JP Morgan Asset Management launched its first tokenized money market fund on the public Ethereum blockchain. EMP Paribas, Santander, ING, and other global banks started piloting stablecoin and tokenized deposit projects, levering Ethereum and Ethereum Layer 2 solutions. Exchange-traded products had expanded access, while tokenized funds, deposits, and even equities are increasingly settling on Ethereum rails. This distinction matters. Institutions are now using Ethereum infrastructure, creating long-term structural demand for both the network and its native asset, ETH. From a technology standpoint, Ethereum is scaling to meet the needs of major institutional players. Ethereum continues to advance performance and throughput through core protocol upgrades. The Pectra upgrade delivered meaningful improvements to validator performance, efficiency, and overall network capacity. The Fusaka upgrade, which went live in December, pushed that further with enhancements to data availability and execution. And Ethereum is becoming the settlement and coordination layer for agentic transactions as well. I'm excited to see the Ethereum Foundation's recent support of infrastructure to support this natural fit. As AI agents begin to transact for their humans or autonomously, whether executing payments, managing portfolios, or coordinating across protocols, they require a settlement and operating environment that is programmable and permissionless. The combination of smart contract composability, deep liquidity, and battle-tested security makes Ethereum the most credible infrastructure for agent-facilitated and agent-to-agent economic activity at scale. As agentic transaction volume grows, it represents a meaningful new source of settlement demand that flows directly through the Ethereum network and, of course, accrues value to ETH. Ethereum has done the hard work. Liquidity, decentralization, security, uptime and developer adoption over more than a decade of continuous, never-down operation. What we are seeing now is a convergence of technological maturity, regulatory clarity, and institutional appreciation and adoption. And this huge ramp in attention from institutions is providing forcing functions that will rapidly drive improvements across the Ethereum ecosystem. From shorter staking executes to fast and synchronous composability, across Ethereum Layer 1 and Layer 2s. With that, I'd like to turn the call over to our Chief Executive Officer, Joseph Shalom, to go further on how Sharplink will capitalize on this momentum. Joseph.