Buyback

Ether treasury firm SharpLink Gaming (SBET) has authorized a stock purchase program of up to $1.5 billion.

SharpLink, which is helmed by Ethereum co-founder and ConsenSys CEO Joseph Lubin, said it will make the repurchases at a time and in amounts that depend on market conditions and share price in an announcement on Friday.

“Should there exist periods where our stock trades at or below the net asset value of our ETH holdings, it would be dilutive on an ETH per share basis to issue new equity through our capital raising efforts,” co-CEO Joseph Chalom said in the announcement.

“In this scenario, the accretive course of action may be to repurchase our common stock.”

The Minneapolis-based company holds 740,760 ETH, worth $3.19 billion at current prices. Numerous companies have unveiled ether treasury strategies in recent months to capture the upside from generating passive yield through ETH staking.

SharpLink shares traded over 10% higher at $19.85 on Friday morning following the buyback program announcement and as bitcoin surged after Fed Chair Jerome Powell’s comments opened the door to a September rate cut.

Read more: Powell Puts September Rate Cut in Play; Bitcoin Pushes Higher

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Oracle network Chainlink's (LINK) native token sharply rebounded with the broader crypto market following Federal Reserve Chair Jerome Powell's dovish remarks in Jackson Hole, Wyoming.

LINK rallied 12% over the past 24 hours, hitting $27.8, its strongest price since December. Bitcoin (BTC) appreciated 3.5% during the same period, while the broad-market CoinDesk 20 index jumped 6.5%.

In protocol-specific news, Chainlink obtained two major security certifications this week: ISO 27001 and a SOC 2 Type 1 attestation, marking a first for a blockchain oracle platform. The audits, carried out by Deloitte, covered Chainlink’s price feeds, proof-of-reserve services and the Cross-Chain Interoperability Protocol (CCIP).

The oracle provider says the move strengthens trust in its data services and can bolster adoption among banks, asset issuers and decentralized finance protocols.

Further supporting the rally, the Chainlink Reserve, which periodically purchases LINK tokens on the open market using protocol revenues, bought 41,000 tokens on Thursday, worth roughly $1 million at that time. That brought total holdings to 150,778 tokens, around $4.1 million at current prices.

Technical analysis

Support Levels: Substantial defense established at $24.15 with high-volume confirmation, according to CoinDesk Research's technical analysis data.
Resistance Penetration: Systematic advancement through $25.00, $25.50, and $26.00 levels with volume validation from institutional participants.
Trading Volume Analysis: Exceptional 12.84 million volume surge during breakout phase, representing five times the 24-hour average of 2.44 million units.
Consolidation Patterns: Extended tight range consolidation around $24.70-$25.10 preceding explosive institutional-driven breakout.
Momentum Indicators: Sustained upward trajectory with measured advance characteristics and institutional accumulation signals from corporate treasury operations.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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SharpLink (SBET) to Commence $1.5B Stock Buyback Program

Chainlink's LINK Rallies 12% to New 2025 High Amid Token Buyback, Broader Crypto Rally

Technical analysis