🥛 Ouch! SBET down 75% in 30 mins? 🥴

GM. This is Milk Road – 'the spice rack of crypto news' (we bring you the heat).

Here’s what we got for you today:

✍️ What happened to $SBET?
✍️ Tron is going public?
🎙️ The Milk Road Show: When Altseason in 2025? The Signals You Need to Know About w/ Jesse Eckel
🍪 Trump is getting deeper and deeper into crypto

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Prices as of 2:00 PM ET. Click here for our Fear & Greed Index.

WHAT THE HELL HAPPENED TO $SBET? 🥴

At the end of last week, $SBET (the Microstrategy of $ETH) tanked ~75% in the span of roughly 30 minutes.

…and if you’ll remember, this is a stock our Head Of Research, Kyle, was super bullish on.

Source: Google Finance

So why did it crater, and where is the opportunity (if any)?

The ‘why’ = a handful of crypto news sites and Key Opinion Leaders (KOLs) shared an SEC filing, claiming the entire ownership structure of the company sold 100% of its shares.

This was untrue.

The filing simply defined WHEN those on the cap table COULD sell. 👇

Source: @ethereumJoseph

Either way – this misread was enough to spook investors and tank the stock price by ~75% (yikes!)

…but herein lies the opportunity:

SharpLink Gaming ($SBET) just announced a purchase of $460M worth of $ETH
Raised another $79M to (you guessed it) buy even more Ethereum
Are now staking 95% of their stash (earning ~$14M a year)

After last week’s 75% decrease, the valuation of $SBET got as low as ~$650M – making it almost 1-to-1 with the amount of $ETH it held (accounting for the incoming $79M.)

Which is kinda nuts – ‘cause as we know from tracking other crypto treasury companies: the market likes to put premiums on these kinds of businesses.

The question is – will the premium return to $SBET, or will it remain roughly 1-to-1?

Those with the stomach for high-risk plays now have the opportunity to bet that the premium will return.

And right now, it looks like that’s the trajectory $SBET is on (it’s up ~46% since trading opened this morning).

P.S. Want to be updated about these opportunities as they happen? Our PRO members were updated about this opportunity in real time. Don’t miss the next one – go PRO here!

NEW LIFE INSURANCE HACK JUST DROPPED

I know, I know. Life insurance = snooze fest.

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TRON IS GOING PUBLIC? 🤨

Cryptocurrency was created so we could unplug from the traditional financial system.

…so why is Tron ($TRX) going public on the Nasdaq? 👇

Source: @Cointelegraph

Well, there are three main reasons:

1/ Access to capital

By becoming a publicly traded company, Tron will gain access to U.S. capital markets, allowing it to raise a good chunk of funds through stock offerings.

2/ Enhanced credibility

Over the years, Tron’s brand power has been spotty at best.

Partnering with the President’s son to launch the company on a U.S. stock exchange will help boost Tron's legitimacy, distancing it from past regulatory issues and attracting traditional investors.

3/ Using the Strategy ($MSTR) playbook

$SBET is running a Strategy-like playbook with Ethereum (take on debt → buy $ETH → stake it → repeat).

Now, Tron is looking to run the same playbook with a $TRX treasury strategy.

But is there really that much of an appetite for $TRX from the traditional financial world?

Honestly – no idea.

But we’re about to find out.