Video game retailer GameStop announced Tuesday its board has unanimously approved a plan to buy bitcoin with its corporate cash, echoing a move made famous by MicroStrategy.

The meme stock jumped more than 6% in extended trading Tuesday following the news. The announcement confirmed CNBC’s reporting in February of GameStop’s intention to add bitcoin and other cryptocurrencies to its balance sheet.

The video game retailer said a portion of its cash or future debt and equity issuances may be invested in bitcoin and U.S. dollar-denominated stablecoins. As of Feb. 1, GameStop held nearly $4.8 billion in cash. The firm also said it has not set a ceiling on the amount of bitcoin it may purchase.

GameStop will be following in the footsteps of software company MicroStrategy, now known as Strategy, which bought billions of dollars worth of bitcoin in recent years to become the largest corporate holder of the flagship cryptocurrency. That decision prompted a rapid, albeit volatile, rise for Strategy’s stock.

GameStop’s foray into cryptocurrencies marks the latest effort by CEO Ryan Cohen to revive the struggling brick-and-mortar business. Under Cohen’s leadership, GameStop has focused on cutting costs and streamlining operations to ensure the business is profitable.

The company said the move could expose it to volatility associated with cryptocurrency prices.

“Bitcoin, for example, is a highly volatile asset and has experienced significant price fluctuations over time. Our Bitcoin strategy has not been tested and may prove unsuccessful,” GameStop said in a U.S. Securities and Exchange Commission filing.

Bitcoin, the world’s largest cryptocurrency, has ridden a roller coaster since President Donald Trump won reelection. After shooting up and piercing the $100,000 milestone, bitcoin has declined about 18% from its record high to a recent price of approximately $88,000.

In tandem with the cryptocurrency announcement, investors also cheered a rise in GameStop’s fourth-quarter results. The firm reported net income of $131.3 million, more than double the $63.1 million earned in the same quarter last year.

Atlanta, Georgia, March 25, 2025 (GLOBE NEWSWIRE) — FYBN Token, a Solana-based cryptocurrency, announced a 395% increase over the past 30 days. Despite the adverse market trends, FYBN reached $0.0031, showcasing an increasing popularity across the broader crypto community. The FYBN Token aims to revolutionize real estate and gas station crypto payments. You can buy FYBNAPP tokens on Coinbase Wallet or Phantom Wallet.

FYBN is a token built on the Solana blockchain. It caters primarily to gas station businesses, providing them with a more efficient, cost-effective, and globally accessible source of liquidity. These businesses can leverage FYBN for property acquisition and operational funding, thus accessing new ways to grow and prosper.

A recent FYBN use case example is the first-ever gas station purchase using cryptocurrency. The $500,000 Atlanta transaction, which saved over $30,000 in commissions, settled instantly and without hefty fees. More importantly, it showed that such transactions can occur via blockchain technology, thus eliminating traditional banking delays.

The FYBN Token comes with a comprehensive suite of utilities and benefits for real-world businesses. For example, using FYBN helps investors streamline gas station and real estate purchases. It also saves them costs by eliminating broker fees. Moreover, FYBN harnesses the power of the Solana blockchain and smart contracts to reduce the legal costs generally involved with such transactions.

FYBN Token also ensures nearly instant transactions, with settlements occurring within minutes. Lastly, gas stations using FYBN can reduce credit card fees and attract tech-savvy customers. All these benefits help reshape gas stations’ financial landscape, enabling them to thrive in an increasingly competitive environment. With the acceptance of the FYBN token in the gas station and Cstore community the price is expected to rise and technical indicators suggest that price would cross $1 by end of this year. 

About FYBN Token

FYBN is a rapidly developing enterprise, with over $817 million in executed deals and 300+ gas stations sold in the last 6 years. The project aims to redefine business operations by merging blockchain innovations with real-world applications.

Behind the FYBN token is an expert team with diverse technology, finance, and social impact backgrounds. Its goal is to push the boundaries in business and transform the world with the power of blockchain. Besides helping gas station businesses reinvent themselves, FYBN empowers charitable donations with traceable transactions. This way, it gives back by making philanthropy transparent and efficient.

You can learn more about FYBN Token at these links: Website | (X) Twitter | Telegram | LinkedIn | Coinbase

You can email FYBN at support@fybn.app or call them at +1 (408) 856-5031.

Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

Dilip Mooparakath

di (at) fybn.app

Social trading and investment marketplace company eToro Group Ltd. has officially filed its paperwork for an initial public offering just over two months after it first reported that it had done so confidentially.

According to the company’s IPO filing with the U.S. Securities and Exchange Commission, eToro had $12.6 billion in revenue in 2024, with net income coming in at $192 million. The figures were way up from $3.89 billion in revenue and $15.3 million in net income in 2023.

How eToro managed to multiply its revenue and net income figures over the course of the year does not come as a complete surprise: cryptocurrency. As Bloomberg pointed out, 96% of eToro’s revenue was from crypto assets last year, much of it driven by the election of President Donald Trump, who is more friendly toward cryptocurrency than his predecessor.

The decision by eToro to go public follows a failed attempt by the company to trade on public markets through a merger with special-purpose acquisition company FinTech Acquisition Corp. V. Announced in March 2021, the plans for the SPAC merger were terminated in July 2022, officially because of conditions between the two companies not being satisfied, but more likely market conditions were a dominant factor.

The proposed size of the IPO and price guidance were not disclosed in the filing, although previous reports have suggested that eToro could be valued at $5 billion, less than half of the $10.4 billion valuation the company would have had if it had gone public in 2022. Though a decline, if the IPO does value eToro at $5 billion, it would value eToro as being worth more than when it raised $250 million on a $3.5 billion valuation in 2023.

EToro follows in the footsteps of artificial intelligence cloud platform company CoreWeave Inc., which filed for its own IPO last week. CoreWeave is seeking to sell 49 million shares at $47 to $55 on a valuation of $26 billion to $35 billion, likely late this week.

Companies that have gone public so far this year include identity security company SailPoint Technologies Inc., which successfully raised $1.38 billion at $23 per share on Feb. 13.

Image: 30478819@N08/Flickr