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GameStop CEO Ryan Cohen met with Michael Saylor of Saylor’s Strategy (formerly MicroStrategy) to discuss using Bitcoin as a treasury asset, as the company sits on a $4.6 billion cash reserve. That $4.6 billion cash reserve, built from shareholder reduction and a belief in Cohen’s ability to turn the company around, is a wasting asset. It’s declining in real value each year thanks to inflation. The rise of Bitcoin as a corporate treasury asset has been spearheaded by Saylor’s Strategy (formerly MicroStrategy), a software firm that turned its balance sheet into a Bitcoin-heavy one. Related: GameStop Shares Skyrocket Amid Renewed Retail Investor Fervor The firm, led by Michael Saylor, has made billions of dollars worth of Bitcoin purchases, with its stock experiencing volatility. This approach has inspired others, including companies like Metaplanet, which recorded an increase of 3,000% in stock value by adopting Bitcoin as a major asset. GameStop dabbled in digital assets, launching a crypto wallet in 2022 to enable users to manage crypto and NFTs. However, the company shut down this service in 2023 due to “regulatory uncertainty.” Despite this setback, the recent meeting between Ryan Cohen and Michael Saylor raises questions about whether the company will explore digital assets again as part of its strategy. In 2023, GameStop’s board approved a new investment policy that allows Cohen and other board members to manage the company’s securities portfolio. This gives them the green light to invest in Bitcoin or other digital assets, provided they align with the board’s guidelines. Related: Michael Saylor: Bitcoin Reserve Could Generate $10T Annually for the US Economy The timing for GameStop to enter the Bitcoin space could be perfect. With Bitcoin becoming more widely accepted as a corporate treasury asset and new accounting rules making it easier for companies to hold Bitcoin on their balance sheets, Bitcoin could significantly change GameStop’s financial trajectory – and its stock price. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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Ripple's XRP is making significant strides in the crypto market, securing regulatory approval in the UAE and attracting institutional interest with a spot ETF filing by Franklin Templeton . These strategic developments mark a turning point for XRP , enhancing its global presence and investment appeal. Ripple has received official approval from the Dubai Financial Services Authority (DFSA) to provide regulated crypto payment services within the Dubai International Financial Centre (DIFC). This makes Ripple the first blockchain-enabled payment provider licensed by the DFSA, reinforcing its role in advancing crypto adoption in the region. This regulatory milestone enables Ripple to offer its global blockchain-based payment solutions across the UAE. By addressing inefficiencies in traditional cross-border transactions—such as high fees, prolonged settlement times, and limited transparency—Ripple is set to enhance its presence in the Middle East. Notably, the region already accounts for 20% of Ripple's global customer base. Brad Garlinghouse, Ripple’s CEO, emphasized that the UAE's forward-thinking approach to tech and crypto innovation positions it to benefit significantly from the evolving crypto landscape. This approval adds to Ripple's extensive list of regulatory achievements, including licenses from the Monetary Authority of Singapore, the New York Department of Financial Services, and the Central Bank of Ireland. In a parallel strategic move, Franklin Templeton, managing $1.5 trillion in assets, has filed for a spot XRP Exchange-Traded Fund (ETF) with the U.S. Securities and Exchange Commission (SEC) . The ETF, if approved, will be listed on the Cboe BZX Exchange, providing investors direct exposure to XRP by tracking its spot price. Coinbase Custody Trust Company, LLC, is set to act as the custodian for the fund’s XRP holdings, ensuring security and compliance. This ETF structure will enable institutional and retail investors to gain exposure to XRP without the complexities of directly purchasing and storing the cryptocurrency. Franklin Templeton's entry into the XRP ETF space aligns with the growing trend of traditional financial institutions expanding their crypto investment products. This move is complemented by similar ETF filings from industry leaders like Bitwise, 21Shares, Grayscale, and WisdomTree, signifying an increasing institutional interest in XRP and other altcoins. While the SEC's review process can extend up to 240 days, the increasing number of ETF filings reflects the shifting dynamics of crypto investments and the expanding interest in XRP as a mainstream digital asset.

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Despite the recent volatility in crypto markets, the long-term potential of digital assets remains strong. Brett Reeves, Head of Go Network and European Sales at BitGo, who manages institutional digital asset infrastructure at the company, expressed this sentiment in a note to crypto.news. He reflected on the current market downturn while highlighting ongoing advancements in technology and regulation. “Market volatility in recent weeks has revived the voices of crypto doubters who feel vindicated by recent declines in asset prices,” said Reeves. “But for those innovators and believers in the technology and asset class, there’s much more to just falling prices.” Reeves pointed out that market fluctuations are not new to the crypto industry and that the sector has experienced similar declines before without stalling its progress. He also touched on significant advancements in product development and, more crucially, regulatory developments on a global scale. According to Reeves, the White House Crypto Summit was a major step forward, marking a significant shift in the U.S. government’s approach to digital assets. The summit strongly showed a move toward regulatory clarity and institutional adoption, signaling a growing commitment from the current administration to engage with the crypto industry. “The recent downturn in crypto markets aligns with broader financial market trends,” Reeves added. “Major indices have experienced notable declines, with technology stocks, often referred to as the ‘Magnificent Seven,’ suffering double-digit losses.” Factors contributing to this include global uncertainties such as trade tariffs, the Ukraine conflict , and concerns surrounding China’s real estate sector. Reeves also noted that the U.S. faces the challenge of refinancing approximately 25% of its national debt in 2025, which could impact markets. However, the likelihood of rate cuts to ease refinancing could also benefit risk assets, including crypto. Despite these challenges, Reeves highlighted several key developments in the crypto industry, such as the creation of a U.S. Crypto Strategic Reserve, the recognition of stablecoins and Real-World Assets , and the implementation of EU MiCA regulations. He also pointed to the Office of the Comptroller of the Currency’s decision to authorize banks to engage with crypto assets. “These advancements, which seemed aspirational just a year ago, reflect a rapidly evolving landscape where digital assets are becoming increasingly integrated into the global financial system,” Reeves concluded. “So, while prices may be crashing for now, we must remember how far we’ve come and the immense potential that lies ahead for the crypto space.”