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GameStop disclosed that the approximately 4,710 BTC previously transferred to Coinbase Prime was not sold but used as collateral in a covered call strategy to generate option premium income.The company sold short-term call options over-the-counter (OTC), with strike prices ranging from $105,000 to $110,000, generating income while retaining exposure to Bitcoin, but this also limited the upside potential. As a result of this structure, GameStop no longer directly holds Bitcoin assets but records them as "receivable assets," which means the right to recover an equivalent amount of BTC from the counterparty in the future. Since the collateral can be rehypothecated or reused, its position has transformed into a derivative exposure with counterparty risk.The financial report shows that as of the end of the fiscal year, the value of receivable assets related to this strategy was approximately $368.3 million, while an unrealized loss of about $59.7 million was recorded (due to the decline in Bitcoin prices). Additionally, the company confirmed approximately $700,000 in option liabilities and $2.3 million in unrealized gains.

According to monitoring by BitcoinTreasuries.NET, GameStop has pledged 4709 of its 4710 bitcoins as collateral, staked to Coinbase for a covered call option strategy.

Analyst Emmett Gallic posted on the X platform that GameStop spent $500 million in 2025 to acquire 4,710 BTC. In January of this year, GameStop pledged 4,709 BTC to Coinbase Credit as collateral for a covered call option, terminating the recognition of that portion of BTC and accounting for $368.3 million in accounts receivable, resulting in a net loss of $131.6 million. Since the pledge, the price of Bitcoin has dropped by approximately 25%.

According to official news, GameStop announced its financial performance for the fourth quarter and the full year ending January 31, 2026. Fourth quarter net sales were $1.104 billion, compared to $1.283 billion in the same period last year; net profit was $127.9 million, compared to $131.3 million in the same period last year. As of the end of the fourth quarter, cash, cash equivalents, and marketable securities totaled $9 billion, with Bitcoin and related receivables valued at $368.4 million.In addition, the company's full year net sales were $3.63 billion, compared to $3.823 billion in the same period last year; net profit was $418.4 million, compared to $131.3 million in the same period last year.

Lily Liu, president of the Solana Foundation, posted on X stating that "games on the blockchain will not return" and indicated that blockchain gaming is dead.Liu's remarks stem from a Polymarket post earlier this week, which stated that Mark Zuckerberg's Meta is abandoning its metaverse vision after investing $80 billion. Although Meta's vision does not explicitly include blockchain or crypto assets, its strategy shares similar characteristics with various blockchain-based web3 game concepts.Reports indicate that Mythical Games is still advancing mobile games for the FIFA and Pudgy Penguins brands, while Gunzilla Games' shooting game Off the Grid has on-chain interactions set as optional.

GameStop transferred all of its 4,710 bitcoins to Coinbase Prime in January, sparking speculation in the market about a potential sell-off. The company had previously built a bitcoin position of about $500 million, which is now valued at approximately $362.4 million. CEO Ryan Cohen stated in an interview with CNBC on Friday that the company is shifting towards a transformative acquisition strategy, claiming that this plan is more attractive than bitcoin.Cohen declined to disclose whether the company would liquidate its bitcoins but emphasized that the acquisition plan is transformative not only for GameStop but for the entire capital market. Following the announcement, GameStop's stock price rose by about 8.25% to $25.85.

American renowned "Big Short" Michael Burry posted, "I hold GameStop (GME) and have been buying recently. I expect that the price I bought in at may soon approach 1 times the tangible book value and 1 times the net asset value. I do not expect to realize long-term value through a short squeeze and am willing to hold long-term."Affected by this news, GameStop's stock price surged by 8.8% during intraday trading on Monday, closing at $24.01, an increase of 4.44%.

GameStop has transferred all of its 4,710 bitcoins to Coinbase Prime, sparking speculation in the market about its potential sale of bitcoin assets. The current value of this bitcoin is approximately $422 million. This transfer "likely indicates preparations for a sale." If sold at an approximate price of $90,800 per bitcoin, GameStop could realize a paper loss of about $76 million. Previously, GameStop purchased the aforementioned bitcoins in batches at an average price of $107,900 in May of this year. As of now, GameStop has not publicly responded to whether it will sell the bitcoins.

According to market news, GameStop is suspected of transferring all on-chain BTC to Coinbase Prime, possibly for sale.

Recently, the Web3 game platform Pump.game announced that it will distribute GAMES airdrop rewards to PUMP token holders and users trading on the Pump.fun platform.The airdrop distribution will comprehensively consider users' PUMP holdings and historical trading behavior on the platform, aimed at rewarding ecological users who engage in real interactions on Pump.fun.According to the official introduction, GAMES is an important component of the Pump.game ecosystem and will play a key role in future game content and platform tokens.

Liquid Capital (formerly LD Capital) founder Yi Lihua posted on social media, stating, "Investors like Buffett and Duan Yongping are respected because they earn money through value and trends, rather than through speculation.This year's trend is a bull market, regardless of the macro environment or the stage of industry development; it's not something we can decide among ourselves. We can only see the trend and go with the flow. During this time, I've seen bears making their last efforts, but as we've mentioned before, before the great bull market of 2026, bears will have already covered their positions with small losses, and those who cover later will suffer greatly.Those who are still bearish in the market now are either just talk or cannon fodder. After experiencing more than a month of fluctuations (the tug-of-war between bulls and bears), the bulls will definitely rise up, while pessimists are always right, and optimists always move forward."

Aether Games officially announced the cessation of operations. The project released a statement on social media indicating that despite various efforts and adjustments by the team, they were unable to attract the player base necessary for survival. The project team admitted that the TGE (Token Generation Event) period was a turning point, as many transactions with KOLs, partners, and advisors proved to be dishonest, leading to significant financial losses. At the same time, major exchanges including KuCoin, Gate, and Bybit have issued delisting risk notifications for the AEG token, making it impossible for the project to continue.Aether Games also pointed out that the high costs, complexity, and security risks in the crypto gaming market are key factors leading to failure. Recently, the project faced multiple hacking attempts, one of which successfully compromised some users. To prevent further scam risks, the official team has decided to close the Discord community. In their farewell letter, the team suggested that future project developers should consider small-scale fair fundraising and focus on DEX liquidity, rather than relying on expensive promises and unstable partnerships.

According to CoinDesk, as of the end of the third quarter, GameStop (stock code GME) held Bitcoin worth $519.4 million, although the company recorded a digital asset holding loss of $9.2 million during this period. Additionally, verified official documents show that GameStop still held 4,710 Bitcoins at the end of the third quarter, unchanged from the data released in the second quarter financial report.Due to sales performance not meeting investor expectations, the company's stock price fell 5.8% on Wednesday. Since GameStop announced its Bitcoin plan in March, its stock price has dropped over 22%, as investors weigh the risks of holding cryptocurrency against the impact of the company's weak core business performance.

The publicly traded company GameStop invested $500 million in Bitcoin this spring, and now this asset is causing significant volatility for the company.According to the company's third-quarter financial report released on Tuesday, the position had a book value of approximately $519 million at the end of September, resulting in over $19 million in unrealized profits. However, at the end of the second quarter, this holding had briefly risen to $528 million, and then recorded an unrealized loss of $9.4 million due to a price drop. During the third quarter, GameStop did not increase or sell any Bitcoin. In 2025, Bitcoin reached new highs driven by crypto-friendly policies in the U.S. However, the crash on October 10 caused prices to fall about 30% from their peak this year, shaking the entire industry. During this collapse, approximately $19 billion in leveraged crypto positions were forcibly liquidated, and several publicly traded companies that benefited from the bull market began to show signs of pressure. In addition to GameStop, non-crypto companies also made significant purchases of Bitcoin this year, including Japanese hotel operator MetaPlanet and Trump Media & Technology Group, which is under Trump. This trend is attributed to President Trump's executive orders strengthening the strategic position of crypto assets within his administration and pushing regulators to implement a light regulatory framework. As the market weakens, the financial performance of these companies is facing severe challenges.