GameStop Cites 'Regulatory Uncertainty' — Drops iOS, Chrome Extension Crypto Wallet Support
Portfolio Pulse from Mehab Qureshi
GameStop Corp. (NYSE:GME) has announced it will no longer support cryptocurrency wallets due to regulatory uncertainty in the United States. The removal of its iOS and Chrome Extension wallets will take place on November 1, 2023. This decision comes after the company faced challenges in the crypto space, including having to lay off several software engineers working on the development and maintenance of its crypto wallet.
August 04, 2023 | 10:39 am
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GameStop's decision to stop supporting cryptocurrency wallets due to regulatory uncertainty could impact its position in the crypto market and potentially affect its stock price.
GameStop's decision to stop supporting cryptocurrency wallets due to regulatory uncertainty could lead to a loss of potential revenue from the crypto market. This could negatively impact investor sentiment and potentially lead to a decrease in its stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100