The American video game retail giant GameStop has captured investors' attention following reports about the company's potential entry into the cryptocurrency market. According to informed sources, the retailer's management is exploring opportunities to invest in Bitcoin and other digital assets as a potential avenue for further business development.
Market participants showed particular interest in a photograph featuring GameStop CEO Ryan Cohen alongside Michael Saylor, founder of MicroStrategy, a company known for its substantial Bitcoin investments. Although sources deny Saylor's involvement in discussions regarding GameStop's cryptocurrency strategy, this news triggered a 20% increase in the company's stock during over-the-counter trading.
This is not GameStop's first venture into digital assets. In 2022, the company launched its own cryptocurrency wallets and NFT trading platform; however, these services were discontinued in 2023 due to stricter regulatory requirements. Nevertheless, the company's substantial financial reserves, amounting to $4.6 billion as of November 2023, enable it to explore new investment opportunities.
A crucial factor in the decision-making process is GameStop's recently approved investment policy. In December 2023, the board of directors granted Ryan Cohen and selected board members authority to manage the company's investment portfolio. Each investment decision must align with the organization's financial objectives and receive approval from either the executive committee or a majority of board members.

#GameStop #Bitcoin #Blockchain

🔔 MARKET MOVING NEWS! (14/02/25)

1️⃣ Michigan Becomes Latest State To Propose Crypto Reserve Bill ‼️

The state of Michigan has reportedly become the latest US state to propose a strategic Bitcoin reserve bill. Specifically, House Bill 4087 proposed by Michigan state representatives Bryan Posthumus and Ron Robinson, seeks to allow the state’s treasurer to invest in crypto from both the general fund and economic stabilisation fund with a cap of 10%.

The bill also includes a provision that allows the state treasurer to lend crypto for yield if it doesn’t increase “financial risk to the state.” Although it doesn’t specify any guidelines for what cryptocurrencies can be bought for the reserve, it mandates the state to hold crypto directly through secure custody solutions or exchange-traded products from registered investment companies. This makes Michigan the 20th US state with legislation for state crypto investments pending a vote.

2️⃣ OpenSea Foundation Reveals Token Airdrop for NFT Traders 💰
#AirdropAlert
According to a recent tweet by the OpenSea Foundation, NFT marketplace OpenSea is preparing for the launch of its native token “SEA.” The tweet claims the token will be airdropped to active, loyal, and historical users of OpenSea’s NFT marketplace and its Seaport protocol.

Although OpenSea is yet to provide more specific details about the token launch and allocation, a spokesperson for the OpenSea Foundation confirmed to Decrypt that users will not be required to complete know your customer (KYC) verification and that U.S. users will be eligible to participate in the airdrop.

#Airdrops_free

3️⃣ Metaplanet Raises 4B JPY In 0% Interest Bonds To Buy More BTC 💸

Japanese firm Metaplanet Inc. has reportedly raised ¥4 billion ($25.9 million) through the issuance of zero-interest, unsecured and unguaranteed bonds. The firm stated it would use the funds to increase its BTC holdings. Specifically, Metaplanet plans to acquire 10,000 BTC by Q4 2025. This would cost $957 million at current prices. It also stated that it wants to increase its holdings to 21,000 BTC by the end of 2026. These plans hint at aggressive purchases in the coming months. As of Jan 28th, the company held approximately 1,762 BTC.

4️⃣ SEC Moves Forward With Weighing Proposals For Grayscale's XRP And Dogecoin ETFs ⚡️
#SEC
The US Securities and Exchange Commission (SEC) has reportedly acknowledged crypto asset manager Grayscale’s Form 19b-4 filings for the Grayscale XRP Trust and the Grayscale Dogecoin Trust. For context, a 19b-4 filing is the second part of a two-step process for proposing a spot crypto ETF. Once the SEC acknowledges the filing, it will be published in the Federal Register. Once Grayscale’s filings are submitted to the SEC’s federal register, this begins a 240-day timer for the agency to review and decide on whether to approve, disapprove or "institute proceedings" on the applications.

5️⃣ GameStop Is Considering Investing In Bitcoin And Other Cryptocurrencies: CNBC 🔍
#gamestop
According to a CNBC report, video game retailer turned meme stock GameStop is considering investing in BTC and other cryptocurrencies. The report cited “sources familiar with the matter.”  The share price of GameStop rose by as much as 20% in after-hours trading following the news. The report also caveated that the retailer could decide not to follow through with the investments.

6️⃣ Court Grants 60-Day Pause in Binance, SEC Dispute ▶️

A U.S. district judge has reportedly granted a 60-day pause in the ongoing legal battle between global crypto exchange Binance and the U.S. Securities and Exchange Commission. The 60-day stay gives Binance and the SEC a break from immediate legal proceedings and allows both parties time to assess new regulatory developments. The temporary stay will last until April 14, 2025, at which point they must submit a joint status report. The joint request for a delay was filed on Monday, with both Binance and the SEC citing the establishment of a new SEC crypto task force as the primary reason.

GameStop, the famous video game retailer, just saw its stock price surge after hours of trading amid rumors that the company is considering investing in Bitcoin and other cryptocurrencies. This news caused GameStop's stock to jump from $26 to nearly $31, creating a frenzy in the market.
Is GameStop Investing in Bitcoin?
According to CNBC, #gamestop is considering investing in Bitcoin and crypto, but there has been no official announcement.

According to Odaily, GameStop (GME) stock surged significantly on Monday following a cryptic post by CEO Ryan Cohen on X (formerly Twitter). The post featured a photo with Michael Saylor, the founder of MicroStrategy and a well-known Bitcoin (BTC) advocate. This meeting has sparked widespread speculation that GameStop may be venturing into the cryptocurrency space, potentially exploring Bitcoin-related initiatives.
The stock price of GameStop (GME) jumped 9.66%, reaching $27.12, as reported by Google Finance. While Cohen’s post did not reveal specific details, the collaboration with Saylor—a prominent figure in the Bitcoin and blockchain industry—has fueled rumors of a possible crypto partnership or Bitcoin integration into GameStop’s business model.
Key Highlights:
GameStop (GME) stock surges 9.66% after Ryan Cohen’s meeting with Michael Saylor.Speculation grows around GameStop entering the Bitcoin and crypto market.Michael Saylor, a Bitcoin maximalist, could play a key role in GameStop’s potential crypto ventures.No official statement from GameStop or Ryan Cohen regarding the meeting’s purpose.
This development has caught the attention of both stock market and crypto enthusiasts, as GameStop continues to be a focal point in the meme stock and digital asset communities. Could this be the beginning of GameStop’s foray into Bitcoin and blockchain technology? Stay tuned for updates!
#Bitcoin #GameStop #Crypto #MichaelSaylor #RyanCohen

These days we have seen how the share price of #gamestop (GME) had a good performance at #mercado , having a rise for 2 continuous days driven by the return of Roaring Kitty (Keith Gill) . This boost in "meme stocks" was not only seen in the traditional market, but also in the #Criptomonedas market with the #memecoins of the same theme. How did some traders do buying these memecoins during this trend? Let's explore.

When I mention memecoins with the same theme, I am referring to memecoins created parodying certain themes, with zero usefulness and pure speculation. Thus we have the memecoin parodying Gamestop (GME) on the Solana network.