GameStop Adds Bitcoin to Treasury Reserve Assets Ethereum's Implied Volatility at 59% and 45% for 7-day and 30-day Tenors Mt. Gox Transfers 11,000 Bitcoin to Wallets Cronos Surges 30% to $0.10 on Trump Media Partnership

GameStop has announced a significant update to its Investment Policy, allowing for the inclusion of certain cryptocurrencies, including Bitcoin, as permissible investment instruments. This development was detailed in the company's 2024 annual report and further emphasized through a post on X, formerly known as Twitter, where GameStop stated that Bitcoin is now recognized as a Treasury Reserve Asset. This strategic move by GameStop reflects a growing trend among traditional companies to integrate cryptocurrencies into their financial strategies, potentially signaling a broader acceptance of digital assets in mainstream finance.

Meanwhile, the cryptocurrency market continues to experience fluctuations, with Ethereum's volatility expected to surge in April. According to decentralized options platform Derive, Ethereum's implied volatility is currently near monthly lows, with 7-day and 30-day tenors sitting at 59% and 45%, respectively. Nick Forster, founder of Derive, noted that historically, such low levels rarely hold, suggesting that April could mark the beginning of a sharp upswing in volatility. This outlook underscores the dynamic nature of the cryptocurrency market, where periods of stability can quickly give way to heightened volatility.

In other news, Mt. Gox, the once prominent cryptocurrency exchange, has transferred over 11,000 Bitcoin to two separate wallets. However, analysts from Glassnode have indicated that this movement is unlikely to be a preparation for repaying creditors. The transfer, which included 893 BTC to a hot wallet and 10,608 BTC to a new change wallet, follows similar transactions on March 11. This activity highlights the ongoing efforts by Mt. Gox to manage its remaining assets, even as it navigates through its bankruptcy proceedings.

Additionally, the native token of Crypto.com, Cronos (CRO), experienced a significant surge following the announcement of a tie-up between Trump Media and Technology Group and Crypto.com. The token's value increased by 30% over the last 24 hours, reaching $0.10. This surge was driven by the news that Trump Media plans to develop exchange-traded funds with Crypto.com, leveraging the presidential connection to attract investor interest. The trading volume for CRO exploded almost six times, from $21 million to $126 million, as traders sought to capitalize on the potential opportunities presented by this partnership.