Odaily News: Game retailer GameStop announced that it will stop supporting its cryptocurrency wallet due to "regulatory uncertainty." According to the company's website, GameStop will remove its iOS and browser plugin wallets from the market on November 1st. These wallets allow users to manage their cryptocurrencies and NFTs.



This means that GameStop is abandoning its cryptocurrency strategy, which was part of Chairman Ryan Cohen's broader efforts to turn around the struggling video game retailer through digital services. GameStop did not respond to requests for comment from reporters. The company did not mention NFTs or cryptocurrencies in its recent conference call with investors.



GameStop launched its NFT marketplace a year ago, allowing gamers, creators, collectors, and other community members to buy, sell, and trade NFTs. Last December, GameStop announced that it would no longer focus on cryptocurrencies after a net loss of $94.7 million in the third quarter and layoffs in its digital assets division. The company's CFO, Diana Saadeh-Jajeh, resigned on August 11th. GameStop has seen two CEOs leave in the past two years. (Bloomberg)