crypto

Sage D. Young7/9/25

GameSquare shares spring on board approval of $100 million ethereum treasury strategy

GameSquare is entering the increasingly crowded crypto treasury arena.

The firm’s pick: ethereum, joining SharpLink Gaming (led by ethereum cofounder Joseph Lubin as its board’s chairman), Bit Digital, and BitMine Immersion, which has Fundstrat founder Thomas Lee as chairman of its board.

On Tuesday, GameSquare announced that its board approved an ethereum allocation of $100 million “based on staged investments over time” and a public offering of $8 million worth of common stock to accelerate its newly formed ethereum treasury strategy.

Shares of GameSquare were below the $1 level yesterday morning and have skyrocketed over 150% to trade as high as $2.66 at 10:00 a.m. ET. ethereum has seen a 3.7% increase in the last 24 hours, data from CoinGecko shows.

The company’s ethereum strategy also includes searching for yield-generating opportunities. GameSquare teamed up with crypto capital management company Dialectic, aiming “to generate real, on-chain yield while deepening our expertise in decentralized finance, pursuing new revenue streams, and strengthening our balance sheet,” GameSquare CEO Justin Kenna said in a statement.

GameSquare made headlines earlier in the year for fully divesting from FaZe Media, an internet media company led by streamers and creators.

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SharpLink Gaming generated 488 ethereum tokens worth about $2 million from staking last week, while ETHZilla announced a reverse stock split at a 1-for-10 ratio.

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The US government seized 127,271 bitcoin, worth $15 billion, in what it calls the Department of Justice’s “largest ever forfeiture action.”

The indictment against Chen Zhi, chairman of Cambodian conglomerate Prince Group, alleges that he engaged in wire fraud conspiracy using forced labor in Cambodia.

“Individuals held against their will in the compounds engaged in cryptocurrency investment fraud schemes, known as ‘pig butchering’ scams, that stole billions of dollars from victims in the United States and around the world. The defendant is at large,” according to a DOJ press release.

This is “exactly the kind of outcome the Strategic Bitcoin Reserve was designed to enable,” Zack Shapiro, managing partner at Rains Law and head of policy of the Bitcoin Policy Institute, said on X.

This significantly increases the size of the US’s strategic reserve, which held over 197,000 bitcoin before the seizure. As of today, Arkham Intelligence data shows it’s holding 324,780 bitcoin, worth over $37 billion.

Investors in “waiting mode” as ethereum drops below $4,000, ETFs see $428.5 million in outflows

Looking on-chain, stablecoin activity on ethereum crossed an all-time high of 1 million unique weekly stablecoin senders.

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Bitcoin’s price is dropping again Tuesday as one expert warns the current environment is a “toxic cocktail.”

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