Daily Edition · Page 6

THE DAILY INDEX

Technology, AI, software, security, crypto and business

MARKETS & BUSINESS

TLDR Crypto

GAMESTOP TO ADD BITCOIN TO BALANCE SHEET

GameStop has announced plans to add Bitcoin as a treasury reserve asset after a unanimous board vote. The company has nearly $5 billion in cash in its treasury, though the amount to be allocated to Bitcoin has not yet been determined. Speculation that GameStop would make this decision started after a picture surfaced of CEO Ryan Cohen and MicroStrategy's Michael Saylor at Trump's Mar-a-Lago. GME shares are up nearly 6% on the news in after-hours trading.

DERIVATIVES TRADING GIANT CME GROUP TO TEST TOKENIZATION WITH GOOGLE CLOUD

CME Group is partnering with Google Cloud to test asset tokenization on Cloud's new Universal Ledger, a private programmable network. This initiative will begin testing later this year, with new digital asset services expected to launch in 2026. Tokenization offers around-the-clock settlements at a much faster rate than traditional rails. It is positioned to become a multi-trillion dollar industry according to several analysts.

STOP BEING AN IDIOT ABOUT L1/L2S

There is no tangible end-user difference between L1s and L2s, as both require bootstrapped liquidity through stablecoins and non-native assets. L2s function as execution layers with trust-minimized bridges. They naturally integrate with L1s and other L2s despite concerns around liquidity fragmentation. Though L1s benefit from a token flywheel driving demand among MEV searchers and stakers, L2s need to rework their tokenomics to capture similar value and provide more than governance rights. L2 development must shift in operational mindset and token design to ensure robust economic incentives for holders.

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