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GameStop Has Another $2.7B in Bitcoin Buying Power After $450M Greenshoe Exercise
The underwriters exercised their option to buy another $450 million of GME's $2.25 billion mid-June convertible debt offering.
Jun 25, 2025, 2:20 p.m.
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What to know:
- GameStop raised an additional $450 million as underwriters exercised their greenshoe option, bringing the total fundraising from the company's mid-June convertible debt offering to $2.7 billion.
- The capital will be used for corporate purposes and investments, including acquiring bitcoin as a treasury reserve asset.
- The video game retailer started to pursue a bitcoin treasury strategy in March.
Video game retailer GameStop (GME) raised an additional $450 million through a follow-on sale of zero-coupon convertible senior notes, the company disclosed in an Tuesday filing to the SEC.
This came just a week after the retailer's initial $2.25 billion private placement, bringing the total fundraising to $2.7 billion from the offering, the company said.
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The additional notes were sold under a 13-day option granted to the initial purchaser, who exercised the so-called "greenshoe" option in full. The notes, due in 2032, can convert into GameStop Class A common shares at a price of $28.91, representing a 32.5% premium over the stock's volume-weighted average as of June 12, the time of the initial offering.
The capital will be used for general corporate purposes and "making investments in a manner consistent with GameStop’s Investment Policy," which includes acquiring bitcoin as a treasury reserve asset.
GameStop is one of the growing cadre of publicly traded firms to pursue a crypto treasury strategy. They raise capital by selling shares and issuing debt to add cryptocurrencies such as BTC to their balance sheets, mirroring the playbook of Michael Saylor's Strategy (MSTR). The company made its initial acquisitions of bitcoin in May, buying 4,710 coins for about $500 million following a $1.3 billion convertible note offering.
GME shares are flat in Wednesday morning U.S. trading.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Ano ang dapat malaman:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Stablecoins moved $35 trillion last year but only 1% of it was for 'real world' payments
While stablecoins settled around $35 trillion last year, only around 1% of that represented genuine payments like remittances and payroll, a new report found.
What to know:
- Stablecoins processed more than $35 trillion in transactions last year, but only about 1% of that reflected real-world payments, a report by McKinsey and Artemis Analytics found.
- The study estimated that roughly $390 billion in genuine stablecoin payments, such as vendor payments, payrolls, remittances and capital markets settlements.
- Despite rapid growth and increasing interest from traditional payment firms like Visa and Stripe, true stablecoin payments still account for just a tiny fraction of the more than $2 quadrillion global payments market, the report said.
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