As part of the agreement with FTX, GameStop will popularize the exchange's products and services among its clients.
As part of the agreement with FTX, GameStop will popularize the exchange’s products and services among its clients.
The retail gaming giant – GameStop – said it partnered with US brand of the popular cryptocurrency exchange – FTX. Over the course of the agreement, the former will begin carrying FTX gift cards in select stores. In addition, GameStop revealed that its quarterly sales declined to $1.14 billion compared to $1.18 billion in Q2, 2021. Its publicly-traded shares have also been on a downtrend recently. However, they rose about 12% in after-hours trading., the American video game retailer GameStop said the deal will aim to introduce its customers to the community of FTX US and the crypto services it provides. GameStop will become the platform’s preferred retail partner in the United States.
Last month’s changes at the top intensified the firm’s instability. GameStop fired Chief Financial Officer Mike Recupero and dismissed some of its staff from that department. Shortly after, it appointed Accounting Chief Diana Jajeh as the new CFO. CEO Matt Furlong believes those changes will make the entity stronger, but it might have a bumpy ride in the near future:“Our path to becoming a more diversified and tech-centric business is one that obviously carries risk and will take time.
GameStop’s shares currently trade far below the all-time high levels from the beginning of 2021, and at the moment of writing these lines, they hover around $24. Nonetheless, stocks jumped by over 12% in after-hours trading.
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