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GameStop (GME) held $5 billion in cash and nearly $5 billion in eBay stock as of August 1
GameStop has announced preliminary Q2 2026 earnings, revealing it holds $5 billion in cash and $5 billion in eBay stock. Despite repeated rejections from eBay, GameStop and CEO Ryan Cohen continue to pursue an acquisition. Michael Burry notably sold his stake in GameStop in May 2026.
Mastercard Signs On as Sponsor of New York XRP Ledger Hackathon Ahead of Swell
Mastercard has been announced as a sponsor for the upcoming XRP Ledger Hackathon in New York, scheduled for October 24-25, 2026. The event, organized by XRPL Commons and the XRP Ledger Foundation, focuses on blockchain development with tracks in Protocol Innovation, Agentic Finance, and Lending/Borrowing, and includes a developer bootcamp. While not directly targeting gaming, advancements in autonomous transactions and lending protocols could impact future gaming economies.
Nvidia’s Hidden 123 Million SpaceX Shares Are Already $4B Underwater
Nvidia disclosed it holds nearly 123 million shares in SpaceX, acquired through an investment in xAI which was later folded into SpaceX. This stake, initially valued at $21 billion, has seen a paper loss of approximately $4 billion due to a recent decline in SpaceX's stock price. SpaceX's CEO Elon Musk confirmed the company's exclusive reliance on Nvidia for its data center hardware needs.
Business and Finance
Take-Two Interactive Software, Inc. has reported its financial results for the first fiscal quarter of 2027. Additionally, Devolver Digital is reportedly planning to go private, according to GamesIndustry.biz.
Indie game publisher Devolver Digital wants to go private
Indie game publisher Devolver Digital is seeking to return to private ownership, citing that its current share price does not reflect its true market value. The company plans to hold a shareholder vote on September 8th, with a potential delisting on September 16th. Devolver Digital believes becoming a private company will allow for a singular focus on long-term health rather than public market requirements.
Tether Plants Its Tokenization Flag in Saudi Arabia, Beginning With Property
Tether's tokenization platform, Hadron, is launching in Saudi Arabia to issue and administer tokenized real estate assets for institutional investors. The company has partnered with First Data and BKN301 for this initiative, with plans to expand into energy and infrastructure finance later. This move aligns with Saudi Arabia's Vision 2030 economic diversification strategy, which encourages enterprise blockchain deployment.
Business and Finance
Devolver Digital has been valued at $950 million as it prepares to float on the London Stock Exchange. Additionally, Corsair reported strong profit growth and cash generation for the second quarter of 2026.
SpaceX (SPCX) Q2 2026 earnings results beat revenue in first report since IPO
SpaceX reported its first quarterly earnings for Q2 2026, exceeding revenue expectations with $7.8 billion and showing a smaller-than-expected loss per share. The company's stock experienced fluctuations in after-hours trading following the release of the financial report.
Business and Finance
Atari has returned to profitability, achieving its highest revenue in a decade. The company's financial turnaround was reported by Reuters.
GameStop (GME) stock crashes 12% on $1.4 billion convertible senior notes private exchange for stock
GameStop announced a private exchange of approximately $1.4 billion in convertible senior notes for shares of its Class A common stock. This move reduces the company's debt obligations without using cash, though it results in shareholder dilution. The exchange is expected to close around September 23, 2026.
Business and Finance
GameStop has announced a private exchange offer for its convertible senior notes, totaling $1.4 billion, in exchange for equity. This financial maneuver aims to restructure the company's debt.
Business and Finance
Electronic Arts anticipates its Saudi takeover deal will close next week, while Xbox revenue has seen a significant drop of $1.7 billion year-over-year, with hardware sales declining by 29%. Roblox Corporation has also reported its financial results for the second quarter of 2026.
Business and Finance
Microsoft's Xbox division experienced a 10 percent revenue drop, contrasting with significant growth in its cloud and AI businesses. Separately, a Capcom producer indicated that the Resident Evil remakes are a key financial driver for the company.
X Money begins limited US rollout
X is beginning a limited rollout of its banking service, X Money, in the United States. Initially, only Premium and Premium X subscribers will have access to this new financial service offered by Elon Musk's company.
Business and Finance
Ubisoft reported a 9.2% decrease in net bookings for its first quarter, attributing the decline to a high comparison base from the previous year. Additionally, Paramount has agreed to postpone the closure of its transaction with Warner Bros. until next year.
Business and Finance
Kadokawa, the owner of Elden Ring, is facing a dispute between itself and activist shareholders. Separately, Google's parent company Alphabet is being added to the Dow Jones index.
Business and Finance
Tencent is reportedly considering withdrawing from several gaming investments, while GameStop's Ryan Cohen has withdrawn a CEO performance award as the company shifts its focus to eBay. These developments highlight shifts in the business and finance landscape of the gaming industry.
100 Consecutive Majors: From the Fairway to the Future of Finance, KuCoin and Adam Scott Mark a Milestone Defined by Consistency and Trust
KuCoin and its brand ambassador Adam Scott are celebrating his 100th consecutive major championship appearance at the U.S. Open on June 18, 2026. This milestone highlights shared values of discipline, consistency, and trust between the crypto platform and the golfer. Scott's sustained excellence in professional golf mirrors KuCoin's approach to building a trusted global financial platform.
Don't Nod pursuing 'several levers' to secure financial future after Tencent decides against short-term investment
Developer Don't Nod is actively seeking financial solutions to extend its cash runway after Tencent decided against a short-term investment. The company is working to optimize its cost base and secure funding for 'Project P14' amidst a challenging industry environment.
Business and Finance
Auditors have warned that the game developer Don't Nod may run out of cash by November if it fails to secure additional financing. The company is actively seeking new funding to continue its operations.