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Sharplink, Inc.
8/10/2026
Good morning, everyone, and thank you for participating in today's conference call to discuss Sharplink's financial and operating results for the second quarter ended June 30, 2026. By now, everyone should have access to the second quarter 2026 earnings press release, which was issued this morning at approximately 8 a.m. Eastern Time. The release is available in the investor relations section of Sharplink's website. This call will also be available for webcast replay on the Sharplink's website. Following management's prepared remarks, we will open the call for questions. I will now hand the call over to Sharplink's Vice President of Business and Legal Affairs, Dodi Handy, for introductory comments.
Thank you, operator. Please see Sharplink's quarterly report on Form 10-Q, filed on Friday, August 7, 2026, with the SEC, along with the earnings press release that crossed the wire 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 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. 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 and other treasury-related performance metrics, that are not GAAP measures. 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 Joe Lubin, Sharplink's Chairman of the Board, co-founder of Ethereum, and founder and CEO of ConsenSys. Joe will discuss Ethereum's evolution into foundational infrastructure for programmable financial and economic activity, including the network's technological roadmap, expanding institutional adoption, and an ecosystem that grows increasingly capable of supporting global finance at scale. Next, Sharplink's Chief Executive Officer, Joseph Chalom, will discuss the Ethereum institutional supercycle, Sharplink's ecosystem initiatives, recent capital allocation activity, and how SharpLink is putting its ETH treasury to work through staking and active treasury management. Finally, our chief financial officer, Bob DeLucia, will recap SharpLink's second quarter financial results, liquidity position, and key ETH treasury performance metrics. Now at this time, I'd like to turn the call over to SharpLink's chairman of the board, Joseph Lewin. Joe, the floor is yours.
Thank you, Dodi, and good morning, everyone. As a co-founder of Ethereum and CEO of ConsenSys, I have had the privilege of helping build the ecosystem from its earliest days. For much of the first decade, Ethereum was often evaluated through the narrow lens of diverse waves of innovation, crypto market cycles, and short-term asset prices. Those forces remain visible, but they are increasingly incomplete measures of the progress taking place visibly and Benita Service. Ethereum is transitioning from technology once viewed as experimental into core infrastructure for programmable financial and economic activity. Stablecoins, tokenized assets, decentralized markets and automated commerce are operating today, settling meaningful value and attracting increasingly sophisticated users, human, corporate and machines. It's clear that this market is unique compared to others. Ethereum now benefits from more mature custody, security and compliance infrastructure, deeper institutional expertise, and a more constructive regulatory framework. Major financial and technology companies are moving beyond proof of concept projects towards production systems. Technological adoption, regulatory development, and Asset Prices will not always move on the same timeline. But the direction of travel is increasingly clear. Ethereum is foundational infrastructure for the programmable global economy. Manufacturers and stakeholders are increasingly aligning around this inevitable outcome. The momentum is not exclusively top-down. Alongside accelerating institutional participation We are seeing renewed excitement and engagement from retail users, developers, and entrepreneurs. Institutional adoption brings scale, capital, and credibility, while grassroots participation continues to drive experimentation, applications, and community growth. Together, they reinforce our belief that we are entering a new Ethereum era supported by broad-based conviction rather than any single category of participant. The Ethereum economy is becoming an increasingly intrinsic part of the diverse global economy. Ethereum's defining advantage is a credibly neutral, censorship-resistant, programmable infrastructure that is guaranteed to execute properly formed transactions or programs. It enables institutions and other participants to transact and coordinate through automated transparent rules without surrendering control to a single commercial intermediary. thus eliminating or reducing exposure to counterparty risk and other forms of risk. The Ethereum Foundation has described this as shared, neutral digital infrastructure for governments, institutions, and communities. Its applications extend beyond payments to asset issuance, trade settlement, identity, registries, attestations, and tokenized markets. Over time, we expect ETH's value proposition to become increasingly aligned with the amount, quality, and strategic importance of activity across the network. Robinhood's decision to build its blockchain infrastructure on Ethereum is one recent proof point. In its Q2 results, Robinhood described Robinhood Chain as a permissionless, AI-native, financial-grade Ethereum Layer 2 blockchain built to institutional standards. Thank you very much. building on the continued growth of its Biddle fund. JP Morgan, a bank whose CEO once publicly dismissed digital assets, has also deepened its Ethereum footprint, filing for a second tokenized money market fund on the network and expanding institutional use of its JPM coin deposit token on the Ethereum space network. The Ethereum ecosystem is also evolving to support this next stage of adoption. The Ethereum Foundation continues to play an essential role in protecting the protocol's core properties and long-term resilience, while additional specialized steward organizations are emerging to add focus and execution across important areas of the ecosystem. We are supporting that evolution directly through investment in ETH Labs, Ethereum Institutional and ETH Systems, which Joseph will discuss in greater detail. These organizations are designed to address protocol development, institutional engagement, and privacy infrastructure while preserving the independence and credible neutrality that differentiates Ethereum from other blockchain ecosystems. This diversification of specialized steward organizations will greatly strengthen, accelerate, and broaden the Ethereum ecosystem. The protocol roadmap is advancing in parallel. The upcoming Glamsterdam hard fork marks the first concrete step in the broader lean Ethereum roadmap that Vitalik recently outlined, a three to four year effort to rebuild Ethereum's core around lean consensus, lean data, and lean execution. Its two headline changes, EPBS, enshrined proposer builder separation, and BAL, block level access lists, provide the technical foundation for subsequent upgrades, including the next hard fork, Agoda. For institutions, the significance is that Glamster Dam is not a one-off upgrade, but the next major move in a multiyear evolution towards a much faster, more private, and quantum-resistant Ethereum, with capacity and performance improvements expected to powerfully compound across each successive fork. Ethereum's first decade proved the technology. The next will be defined by its adoption at massive scale as the network moves rapidly from experimentation to real-world implementation. That transition has significant implications for the company's positions to participate in Ethereum's growth. That is why we are building SharpLink to be an active participant in this new Ethereum era. Our objective is to provide public market investors with disciplined, productive exposure to Ethereum's long-term growth while supporting the ecosystem that underpins our treasury asset, Ether. As Ethereum's role in the global economy expands, we intend for Sharplink to grow alongside it. I would now like to turn the call over to Sharplink's chief executive officer, Joseph Chalom, to discuss how Sharplink is putting that strategy into place. Joseph.
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