🤔 What’s going on with $SBET and Ethereum?
A company called SBET—reportedly backed by an Ethereum co-founder—plans to purchase $425M worth of ETH.
It’s currently valued at $2.4 billion, despite holding assets worth far less.
That’s 6x over its actual book value.
🚀 Early investors? Already up 400%.
⚠️ But here’s the catch: SBET is using borrowed money to buy ETH.
If prices fall, that leverage could turn ugly—fast.