GameStop extended its Bitcoin options contract with Coinbase after the previous contracts expired worthless, collecting $5.8 million in premium income. The new agreement lowered the strike price to $80,000 from the earlier $105,000-$110,000 range, with nearly all 4,710 BTC still pledged under the deal. This strategy allows Coinbase to acquire the Bitcoin if its price exceeds the strike before expiration, while GameStop retains the premium if it does not. Despite Bitcoin's central role in GameStop's treasury, the cryptocurrency contributed only about $1 million in gains last quarter, with most profits coming from cash interest and eBay-related positions. GameStop also recently proposed acquiring eBay, highlighting its broader corporate strategy beyond retail operations.
Genius Group, after selling its entire Bitcoin reserve to repay $8.5 million in debt, plans to rebuild its Bitcoin and AI treasuries to a combined $1.6 billion by fiscal year 2031. The company aims to grow total assets to $2 billion and will fund tre...
Grayscale's Zach Pandl highlights that the US Treasury's bond repurchases aim to ease pressure from soaring government debt, which recently surpassed $40 trillion. While these repurchases may reduce Treasury supply and stimulate the economy, they don...
GoMining introduced Instant Funds, a feature enabling eligible digital Bitcoin miner NFT holders to use their miners as collateral to borrow stablecoins like USDT or USDC without selling the miners. Users can access up to 30% of the miner's value wit...
World Liberty Financial's proposed US trust bank has secured a significant investment from Sheikh Tahnoon bin Zayed Al Nahyan's group, which controls 49% of the holding company behind the bank. Another 38% is reportedly owned by an entity affiliated ...
Bitcoin surged above $80,000 following Nvidia's Q2 revenue of $96.2 billion, beating forecasts by $4 billion and boosting tech stocks. US spot Bitcoin ETFs saw $242 million in net inflows on August 27, marking nine straight days of gains and the stro...
