GameStop has transferred its entire Bitcoin holding of 4,710 BTC, valued at $422 million, to Coinbase’s institutional platform. This move suggests a potential sale, which could result in a $76 million loss from its purchase in May. The transfer indicates a strategic shift as GameStop navigates its cryptocurrency investments.
In other developments, the Ethereum Foundation has launched a Post-Quantum security team with $2 million in funding to safeguard the network against emerging quantum computing threats. This initiative reflects growing concerns over the future security of blockchain technology.
UBS is exploring crypto trading for its private banking clients, initially focusing on Bitcoin and Ether in Switzerland, with potential expansion to the Asia-Pacific and US markets. Additionally, blockchain security firm CertiK, valued at $2 billion, is considering an IPO as a “natural step” for its growth in Web3 infrastructure. Lastly, the SEC has dismissed its civil action against Gemini, concluding the Earn-related lawsuit filed nine months ago.
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