Lookonchain APP

App Store

GameStop's $500 Million Bitcoin Bet is Causing Major Volatility for the Company

2025.12.10 19:39:42

On December 10, it came to light that publicly traded GameStop invested $500 million in Bitcoin this spring—and the asset is now driving significant volatility for the company. Per the retailer’s third-quarter financial report released Tuesday, the position held an approximate book value of $519 million as of September 30, with over $19 million in unrealized gains. However, the holding had briefly climbed to $528 million at the end of Q2 before posting an unrealized loss of $9.4 million as Bitcoin prices dropped. GameStop neither added to nor sold any Bitcoin during Q3. In 2025, Bitcoin hit new highs in the U.S. amid crypto-friendly policies—until an October 10 crash sent prices tumbling roughly 30% from their annual peak, jolting the entire industry. The collapse liquidated roughly $19 billion in leveraged crypto positions, with many public companies that profited from the bull run now showing signs of strain. GameStop isn’t alone: Other non-crypto firms have also made big Bitcoin buys this year, including Japanese hotel operator MetaPlanet and former President Donald Trump’s Trump Media & Technology Group. The trend has been boosted by Trump issuing executive orders to elevate crypto assets’ strategic role in his administration and push regulators to adopt a “light-touch” framework. As the market turns bearish, these companies’ financial performance is facing a tough test.
Relevant content

Robinhood Q4 Revenue Misses Estimates, Drops Nearly 8% After Hours, Crypto Revenue Down 38% YoY

On February 11, Robinhood released its Q4 2025 earnings report, posting a record quarterly net revenue of $1.28 billion—up 27% year-over-year (YoY)—but missing Wall Street’s consensus estimate of $1.34 billion. As a result, HOOD shares fell as much as 7.66% in after-hours trading to $79.04, marking a 42% drop from their October 3 high of $148.67. **Segment breakdown**: - Crypto revenue declined 38% YoY to $221 million, weighed by a sustained crypto market pullback since October. - Quarterly net profit totaled $605 million (down 34% YoY), while earnings per share (EPS) hit $0.66—slightly topping the Street’s $0.63 forecast. **Trading volumes**: - Crypto transaction volume (including subsidiary Bitstamp) rose 3% quarter-over-quarter (QoQ) to $82.4 billion. - Stock trading volume climbed 10% QoQ to $710 billion. - Options contract volume increased 8% QoQ to 659 million. **Key highlight**: “Other” trading revenue—fueled by forecast markets and futures—surged 375% Yo

3 minutes ago

「On-Chain Shareholder」 Gold Short Position Reaches $40 Million, Also Shorting ETH Against SOL Exchange Rate for Continued Profits

February 11 — According to Coinbob Popular Address Monitoring, the largest on-chain gold short whale (address: 0xfc66..., nicknamed "On-chain Stockholder") recently held ~$80M in short positions across various on-chain stocks and commodities, plus ~$40M in crypto positions (ETH, SOL, etc.). The address has realized ~$12.7M in profits this month. Over the past few days, the whale has continued to boost its PAXG (on-chain gold) short position, growing from $24.9M to $30.3M. Its short position in GOLD (tokenized gold asset) has also held steady at ~$10.5M. Notably, the whale has built a ~$36M short position on the "ETH/SOL exchange rate" by shorting ETH and longing SOL simultaneously—this position has already generated significant unrealized profits. Current key holdings: - 5x PAXG: ~$30.3M position, avg entry $4974, ~$520k unrealized loss - 20x ETH: ~$18.8M position, avg entry $2043, ~$270k unrealized gain - 20x SOL: ~$18M position, avg entry $80.6, ~$610k unrealized gain - 5

3 minutes ago

「Suspected Listing Hype Insider Trading」 Whale HYPE Long Positions' Unrealized Loss Expanded to $13.7 Million, Liquidation Price $26.15

February 11 – Per the Coinbob Popular Address Monitor, as HYPE’s price continues to decline, one of the largest on-chain whales (suspected of HYPE listing insider trading) has seen unrealized losses widen to $13.7 million. The address currently holds a 5x leveraged long position on HYPE: position size ~$39.7 million, average entry price $38.67, and current unrealized losses of ~171%. Recently, the whale has repeatedly withdrawn collateral from Hyperliquid, pushing its liquidation price up from $20 to $26.15. It now sits just 9.1% away from a margin call. Notably, even when HYPE previously surged sharply (nearly letting the whale break even), it never closed the position. Background: The whale went long on HYPE **before its October 23 Robinhood listing last year** – its entry price was immediately breached, and it’s remained in unrealized loss territory ever since, with no position adjustments or reductions (continuing to "hodl" to date). Its peak unrealized loss neared $26 mil

3 minutes ago

The U.S. House of Representatives narrowly rejects motion, Trump tariff resolution to proceed to full House vote

Feb. 11 (Tuesday) — U.S. House lawmakers rejected Speaker Mike Johnson’s bid to block a vote on a resolution targeting former President Trump’s tariffs, dealing a major blow to Johnson’s leadership and clearing the way for lawmakers to criticize Trump’s signature economic policy, per The Wall Street Journal. The procedural motion failed 217-214, with three Republicans joining all 214 Democrats in opposition — a narrow defeat in the closely divided House. The vote clears the path for Democrats to bring the tariff-challenging resolution to a full House vote, potentially kicking off a series of highly anticipated votes as early as Wednesday. While Trump could veto any resolution sent to his desk, a successful vote would amount to a public repudiation of his tariff policy, likely prompting a strong reaction from the White House. (Golden Finance)

3 minutes ago

"Whale" Boosts Ethereum Long Position to 5025 Coins, Latest Liquidation Price $1,973.4

February 11 – Per monitoring by HyperInsight (via https://t.me/HyperInsight), the address tied to "Brother Ma Ji" (Li-Cheng Huang) ramped up his Ethereum (ETH) long position multiple times in nearly an hour, lifting the current holding to 5,025 ETH. Key details: - **Position**: 5,025 ETH long at 25x leverage - **Entry price**: $2,051.2 - **Liquidation price**: $1,973.4 - **Current unrealized loss**: $265,000 (66.6% drawdown) Over the past week, this "Brother" address has lost $853,400, with total losses topping $25.59 million.

3 minutes ago

Skybridge Capital has been accumulating Bitcoin in tranches at $84,000, $63,000, and the current range

On Feb. 11, SkyBridge Capital founder Anthony Scaramucci told the Consensus Hong Kong conference that his firm continues to buy Bitcoin despite the recent market downturn, revealing it has been gradually building its position at around $84,000, $63,000, and the current lower range. Bitcoin had previously fallen from above $126,000 in October to nearly $60,000 before rebounding to roughly $69,000. Scaramucci described buying Bitcoin during a downtrend as "catching a falling knife" but remains firmly bullish. He also noted former President Trump is "more crypto-friendly than his predecessor," though added Trump’s controversial geopolitical moves (such as comments about Greenland) could deepen partisan divisions and thus impact digital asset legislation. Additionally, Scaramucci stated that Solana—a programmable Layer 1 public blockchain—is poised to capture significant market share amid the competitive landscape for such networks.

3 minutes ago