GameStop's Major Bitcoin Acquisition Impact

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Published time: 5/29/2025, 8:00:17 AM (Asia/Tokyo)

📢 Important News

• GameStop has purchased over $505 million in Bitcoin, acquiring 4,710 BTC as a hedge against currency devaluation, reflecting a trend of corporate adoption. Following the announcement, GameStop's stock fell over 9%, highlighting market volatility.
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• New York City Mayor Eric Adams proposed Bitcoin bonds at the Bitcoin 2025 conference, allowing residents to invest in Bitcoin while funding city projects. He also advocated for eliminating the BitLicense to encourage crypto businesses.
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• Pakistan plans to establish a government-led Bitcoin Strategic Reserve, marking a shift from its previous anti-crypto stance. This initiative, inspired by the U.S., reflects a growing trend among nations adopting pro-crypto policies.
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• The U.S. Department of Labor has withdrawn its 2022 guidance against including cryptocurrencies in 401(k) plans, allowing fiduciaries to consider crypto investments without specific scrutiny, signaling broader acceptance in retirement planning.
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• BlackRock Inc. is considering acquiring 10% of shares in Circle's IPO, indicating a growing relationship between traditional finance and crypto. Circle aims to raise up to $624 million, showing rising institutional interest in the crypto market.
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📊 Market Changes

• On May 28, 2025, Metaplanet announced a $50 million issuance of zero-interest bonds to EVO FUND to purchase Bitcoin, aiming for 10,000 BTC by year-end. Currently holding 7,800 BTC, the strategy has positively impacted its stock price despite investor concerns.
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• At the Bitcoin 2025 Conference, U.S. Vice President JD Vance criticized regulatory approaches towards cryptocurrency, vowing to eliminate restrictions imposed under Biden. His comments followed scrutiny of Trump's ties to the crypto industry.
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• On February 15, 2025, the UK FCA announced plans to regulate stablecoins and cryptocurrency custody, seeking public feedback by July 31, 2025, and aiming for finalized regulations by 2026 to enhance market integrity and consumer protection.
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• ASIC has filed proceedings against Allan Guo, former director of Blockchain Global, for breaches of duty related to ACX Exchange's collapse, alleging mishandling of customer funds and potential criminal charges are being considered.
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• U.S. Vice President JD Vance stated that around 50 million Americans own Bitcoin, predicting this number will soon increase to 100 million.
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⚖️ Policy & Regulation

• At the Bitcoin 2025 conference, VP J.D. Vance emphasized Bitcoin's importance in U.S. policy and urged political engagement from the crypto community, warning against bureaucratic neglect. He also discussed the potential for a government-backed Bitcoin Reserve, contrasting U.S. and China's approaches to Bitcoin.
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• Former President Trump reversed Biden's guidance against Bitcoin investments in 401K plans, potentially increasing Bitcoin investment options in retirement accounts and impacting the crypto market significantly.
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• Cork Protocol is investigating a security incident involving a hack that resulted in a $12 million loss. The exploit targeted a wrapped staked Ethereum contract, leading to the theft of wstETH tokens. The platform has paused contracts and is actively working on the issue.
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• eToro added 12 new cryptocurrencies to its U.S. platform, expanding from 3 to 15 assets following a regulatory settlement with the SEC. This move reflects a broader regulatory easing in the U.S. crypto market and aims to meet increasing investor demand.
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• Conduit raised $36 million in Series A funding for its cross-border payments platform using stablecoins, bringing total financing to $53 million. The funding will help expand operations in Asia and Mexico, emphasizing efficiency in money movement for businesses.
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📜 Glossary

• Bitcoin: A decentralized digital currency enabling peer-to-peer transactions.

• Stablecoin: A cryptocurrency pegged to a stable asset to minimize price volatility.

• IPO: Initial Public Offering, the process of offering shares of a private corporation to the public.