Category: Gamestop




Gamestop NFT Website Discovered With Hidden Easter Egg Retro Game


Gamestop NFT Website Discovered With Hidden Easter Egg Retro GameFollowing the infamous Wallstreetbets story a few months ago, the company Gamestop is doing much better than it did a year ago. Now a new website called nft.gamestop.com indicates that the firm is dipping its feet into blockchain technology via non-fungible tokens built with Ethereum. ‘Power to the Players’ The publicly listed company Gamestop (Nasdaq: […]


Fed Chair Jerome Powell Says Dogecoin and Gamestop Hype Highlights ‘Froth in Equity Markets’


Fed Chair Jerome Powell Says Dogecoin and Gamestop Hype Highlights 'Froth in Equity Markets'Federal Reserve Chair, Jerome Powell, discussed a number of topics this week such as inflation and central bank digital currencies (CBDCs) following the multi-day Federal Open Market Committee (FOMC) meetings. The central bank’s lead executive was asked about feverish stocks like Gamestop shares and the crypto asset dogecoin. Powell said that the Federal Reserve aims […]



Economist Says Bitcoin Isn’t Too Big to Fail — Warns BTC Can Only Establish Itself if Governments Allow It


Allianz’s chief economic advisor Mohamed El-Erian says that bitcoin is not too big to fail and that governments may intervene. While he believes that cryptocurrency will grow in popularity, the economist says “it takes away a lot from governments,” adding that this asset “can only establish itself if governments allow it to.” Economist Warns of […]



Jim Cramer thinks GameStop should convert its stores into crypto info centers


The Mad Money host proposed that the company's brick-and-mortar shops could become "crypto-information palaces" in which gamers could buy and sell cryptocurrencies.

With GameStop's stock more than doubling in price over the last two days, CNBC’s Jim Cramer is proposing the brick-and-mortar company change its business model to be more inclusive of cryptocurrencies. 

Speaking on CNBC’s Squawk Box today, the Mad Money host suggested that he had a plan to "justify the stock price" of GameStop. At the time of publication, the price of GME is $131.17 — an increase of more than 175% in the last 24 hours after weeks of sideways action. In addition to following the example of Tesla, which purchased $1.5 billion Bitcoin (BTC), Cramer proposed GameStop mimic Square and PayPal by becoming "a dealer in crypto."

"If GameStop were to turn itself into a 5,000-store introduction to crypto [...] make it so that’s an international gaming place where you win Bitcoin, I think you can justify the stock price," said Cramer.

The Mad Money host suggested that all GameStop locations — 3,447 as of January — could convert to "crypto-information palaces" in which the company would allow players to buy and sell cryptocurrencies in addition to offering them as gaming rewards. He added that GameStop’s largest investor, Chewy CEO Ryan Cohen, could convince the board of directors to purchase $1 billion to $2 billion worth of BTC.

It is somewhat unusual for investors or advisors to propose that a company change its business model to justify a stock price. However, GameStop is no longer a typical brick-and-mortar company.

Retail investors from Reddit drove the GME stock price up last month in an attempt to short squeeze hedge fund bets. The result of these actions kept the gaming store at the front of financial news for a number of weeks. On Feb. 18, the CEO of trading platform Robinhood, along with representatives from Reddit and the hedge fund Citadel, spoke at a House Financial Services Committee concerning the GameStop trades.


BitMEX’s Arthur Hayes returns with calls for a boycott of legacy finance


Former BitMEX CEO Arthur Hayes has called on all legacy traders to “opt-out” of legacy trading platforms and embrace the “Crypto Capital Markets.”

BitMEX co-founder and former CEO Arthur Hayes has returned from exile with a post on the derivatives exchange’s official blog calling for a boycott of legacy platforms following the GameStop drama.

Hayes said the incident, where trading on Robinhood was halted after retail traders forced a short squeeze causing hedge funds to suffer billions in losses, showed that markets are stacked against retail traders:

“The game masters just didn’t like how the game was being played, so they jacked up margin to force a course correction,” he said.

The former BitMEX CEO urged retail traders trader to “opt-out” of the legacy financial system in favor of “Crypto Capital Markets”:

“Withdraw all your money from your broker. Stop trading. Stop paying the system that you believe treats you like a second-class citizen. That is opting out, and it is extremely powerful and liberating.”

The post follows months of silence from Hayes — who went to ground last year after the U.S. Department of Justice and the Commodity Futures Trading Commission filed charges against BitMEX executives in October for allegedly violating federal anti-money laundering and know-your-customer obligations and operating an unregistered trading platform.

The post did not provide any indication as to his current whereabouts, and did not address any of the accusations levied against BitMEX. However, he apparently has BitMEX’s permission to post on its official blog as he noted that he intends to post on a fortnightly basis.

Hayes' return to Crypto-Twitter for the first time since September was welcomed by many notables of the crypto sector, including BitInstant founder Charlie Shrem, Kraken’s growth lead Dan Held, Three Arrows Capital CEO Su Zhu, and Blockstream co-founder and CEO, Adam Back.

However, not everyone offered Hayes a warm welcome, with Twitter-user “Lord Ashdrake” replying to Hayes: “bro, shouldn’t you be like in jail or something?”


Doge Token Pumps After Elon Musk Tweets ‘Dogecoin Is the People’s Crypto’


Elon Musk has tweeted that dogecoin is people’s crypto shortly after the billionaire pledged to go off the social media platform for while. Incidentally, the token, which traded at $0.0411 on February 3, surged to $0.0588 just as Musk was tweeting. However, at the time of writing, the token appeared to have retreated to $0.0541, […]


Gamestop Shares and Reddit Fueled Stocks Plummet, Crypto Fans Say Bitcoin Is the Only True Attack


Gamestop Shares and Reddit Fueled Stocks Plummet, Crypto Fans Say Bitcoin Is the Only True AttackFollowing the Wallstreetbets saga last week, a great number of the popular shares being fueled by social media have started to tank in value. Gamestop shares dropped over 60% on Tuesday, while AMC dropped more than 49% shaking investors who bought into these stocks to the core. Meanwhile, a number of cryptocurrency advocates believe the […]






Massive Gamestop Short Squeeze Highlights the Fragility of Today’s Financial System


Massive Gamestop Short Squeeze Highlights the Fragility of Today's Financial SystemThe bigwigs trading stocks on Wall Street have been upset this week as billion-dollar hedge funds have been crippled by Redditors and memes. Not too long ago, the firm Gamestop’s shares were plummeting, and Wall Street veterans lined up a mountain of short bets against the company’s stock. However, members of the Reddit forum called […]




Whole Foods and Major Retailers Now Accept Cryptocurrency via the Spedn App


Whole Foods and Major Retailers Accept a Variety of Cryptos Through the 'Spedn' AppOn May 13, cryptocurrency enthusiasts were pleased to hear that major retailers including Whole Foods, Lowes, Petco, Regal Cinemas, and Gamestop will accept payments in crypto. The payments will be processed by Flexa using its custodial wallet called ‘Spedn’ which gives people the ability to spend with bitcoin core, ethereum, bitcoin cash, and GUSD. Also […]

The post Whole Foods and Major Retailers Now Accept Cryptocurrency via the Spedn App appeared first on Bitcoin News.


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