Allied Gaming & Entertainment has joined the growing list of companies adding cryptocurrencies to their corporate treasuries, announcing its first investment in Bitcoin and Ethereum. The announcement sent AGAE’s Nasdaq-listed stock soaring, more than doubling intraday before closing with a 70% gain. Trading activity marked one of the company’s busiest days.
CEO Yangyang (James) Li said crypto will serve both as a store of value and a “strategic building block” in AGAE’s vision to connect gaming, entertainment, and innovative financial technologies. The company’s digital roadmap includes blockchain-based payment options across esports and gaming properties, tokenization of real-world assets such as entertainment rights, and integration of stablecoins and utility tokens for engagement and cross-border transactions.
Although AGAE did not disclose the exact size of its BTC and ETH purchases, the move signals its commitment to blockchain and Web3 innovation, positioning the company alongside others diversifying their treasuries with digital assets.
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