"GameStop CEO Urged to Convert $5B Cash to Bitcoin"

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In a significant development, Strive's CEO, Matt Cole, has written to GameStop's Chairman and CEO, Ryan Cohen, suggesting that the company redirect its nearly $5 billion cash reserve to Bitcoin. This move, according to Cole, would transform GameStop into a top-tier Bitcoin treasury company in the gaming industry. Strive, an asset management company holding GameStop shares through an exchange-traded fund, believes that this strategy could address GameStop's core challenge of declining physical retail and shifting consumer preferences towards digital game downloads.

Meanwhile, Hong Kong is set to issue its second Virtual Asset Development Policy Statement, which will explore how to combine traditional financial services with technological innovation in the virtual asset space. The statement aims to enhance the security and flexibility of real economic activities and encourage local and international businesses to explore the innovation and application of virtual asset technology. The Hong Kong government has also reiterated its commitment to consulting on the licensing regime for virtual asset over-the-counter trading and custody services within the year.

In other news, Binance has announced that it will delist the BNB/UAH and ETH/UAH spot trading pairs due to poor liquidity and trading volume. The delisting will take effect on February 28, 2025, at 11:00 (UTC+8).

An analysis by The Kobeissi Letter has found that despite a significant drop in Strategy's stock price, the likelihood of forced selling due to liquidation concerns is low. This is due to structural safeguards, such as Strategy's primary funding through convertible bonds and the significant voting rights held by its co-founder and chairman, Michael Saylor.

Jupiter founder Meow has announced three long-term strategies for the JUP token, including an independent audit of the founder, treasury, and token, the establishment of the "Litterbox Trust Fund," and the 2030 Incentive Plan. These initiatives aim to enhance transparency, strategic accumulation of JUP, and community involvement in the development of the JUP token and its ecosystem.

Gate.io has launched ZOO and AIC perpetual contracts, supporting up to 50x leverage. The contracts are USDT settled and are now available for live trading.

Scam Sniffer has reported a case where a user lost $763,600