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Gumi, a publicly traded Japanese game studio, has decided to buy 1 billion yen worth of Bitcoin, that’s equivalent to $6.6 million. In a press release, the Japanese gaming giant spelled out its reasons for jumping into the purchase of a sizable chunk of cryptocurrency. According to Gumi, buying crypto in such a significant volume will allow the company to promote initiatives to strengthen its financial field in blockchain and other business areas. The firm also mentioned it’s growing its portfolio in the node management business. Notably, Gumi will be the first Japan-based, publicly listed company to join in as a validator for the “Babylon” staking protocol in the second quarter of the fiscal year ending April 2025. Related: MetaPlanet Launches Bitcoin Treasury Operations, Issues New Bonds to Fuel BTC Purchases In the meantime, Gumi’s current status allows it to repurpose its surplus Bitcoins, using them as security collateral for other blockchains. Under these circumstances, the gaming giant is investing surplus funds in Bitcoin by staking it on Babylon. The latest development triggered a surge in Gumi’s shares, which saw a 3.6% uptick shortly after the announcement, as the gaming giant plans to capitalize on Bitcoin’s potential growth. Gumi will stake more funds through the Babylon protocol while regularly assessing its crypto holdings to record gains or losses in its financial statements. Gumi’s notable exposure to Bitcoin signals a growing trend of Asian companies embracing crypto. Last December, Japanese investment firm Metaplanet, added Bitcoin Treasury Operations as an official business line within its structure. With that move, the company established Bitcoin as a core part of its operations. Related: Metaplanet’s Stock is Up 3,600% Thanks to Bitcoin Less than two months after Metaplanet’s internal structural adjustment, the company’s stock skyrocketed 3,600%. Reports say Metaplanet has decided to acquire 21,000 BTC by 2026, aiming to pump up its digital asset holdings. The investment company currently owns 1,762 BTC, valued at about $172.3 million. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Pump.fun’s co-founder Alon Cohen has dismissed speculation about an upcoming PUMP token launch. The development comes as the platform is facing a potential class-action lawsuit for the alleged sale of unregistered securities. Token Launch Rumors Cohen addressed the rumors on X, stating, “Seeing rumors about a potential pump fun token – these are wrong.” He also urged users to rely only on official updates from the team. The executive emphasized that the platform remains focused on improving its services and rewarding users, adding that “good things take time!” His response followed reports from Wu Blockchain, which suggested that Pump.fun was preparing for a Dutch auction in collaboration with unnamed centralized exchanges. This also led to rumors about a potential airdrop for early adopters. The publication claimed to have obtained internal documents outlining the token issuance process. It also stated that the timing of the release had not been finalized, citing legal challenges faced by the Solana-based meme coin maker. The claims also alleged that the token would have a total supply of 420 million, with 50% available for public sale at release. However, Cohen has denied all these rumors, stating that all reports of a token launch were false. Legal Challenges Pump.fun is currently facing a proposed class action lawsuit accusing the platform of securities violations. The suit claims that every token created through Pump.fun qualifies as an unregistered security and alleges that the company has generated nearly $500 million in fees from these transactions. A similar case was filed by a different plaintiff just two weeks earlier. Beyond its legal troubles, the platform has also dealt with controversy over a livestream feature introduced in November 2024. While intended to boost user engagement, the feature was quickly exploited to broadcast explicit and disturbing content. In response to public backlash, Pump.fun shut down the function, resulting in a decline in revenue. Last year, the FCA also warned against Pump.fun, stating that it may be providing or promoting financial services or products without proper authorization. As a result, the company was forced to block access to its services for UK users. Despite these challenges, activity on the Solana-based meme coin launchpad remains strong. Additionally, Solana continues to lead the retail decentralized exchange (DEX) market, accounting for 48% of total DEX volume, with nearly 60% of this activity driven by Pump.fun. The post Pump.fun Co-Founder Dismisses PUMP Token Launch Speculation appeared first on CryptoPotato.

#Bitcoin and Gold have moved in tandem in recent years, both pushing higher. Gold led the 2024 pump, and BTC caught up towards the end of the year. Gold is leading the way again, with a strong rally. Can Bitcoin follow once more?

We are still in loss, but we believe it will pump🔥. Analog to $0.6 By the grace of God.

We have not even started the $Doge mega pump