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GameStop, the video game retailer famed for becoming a meme stock and causing chaos in the stock market during the COVID-19 pandemic, is back in the spotlight for a new pursuit: investing in Bitcoin. GameStops board has voted unanimously to add Bitcoin as a treasury reserve asset, investing the company’s corporate cash into the oldest and most popular digital currency. In a recent regulatory filing with the Securities and Exchange Commission (SEC), GameStop explained that in addition to cash, equity issuances and future debt may be invested in Bitcoin, with no set ceiling for the amount of Bitcoin accumulated. The company’s stock rose 15% and dropped back down on Wednesday following the announcement of GameStops investment policy. GameStop also revealed on Tuesday its net income increased during its fourth quarter, rising to $131.3 million from the previous years $63.1 million. However, the retailer also projects more store closures in addition to the 590 locations it’s already closed, as brick-and-mortar retailers have continued to struggle. GameStop is not the first company betting on cryptocurrency. Software company Strategy, formerly known as MicroStrategy, has become the largest corporate holder of Bitcoin after large investments in recent years. GameStop’s decision comes as President Trump has embraced crypto, and after his administration announced the creation of a Crypto Strategic Reserve earlier this month. Still, despite the renewed interest in cryptocurrency, Bitcoin’s price fell 1.6% on Wednesday. The Bitcoin markets have historically experienced significant volatility, GameStop said in the regulatory filing. We are continually examining the risks and rewards of our strategy to acquire and hold Bitcoin.
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E-Commerce
Today, the California-based EV maker Rivian announced a new spinoff company, Also Inc., that will focus on building small, lightweight EVs. The new company, billed as a micromobility startup, is set to be headed by president Chris Yu, Rivian’s former VP of future programs. According to a press release, Rivian will own a substantial minority ownership stake in Also, and Rivian CEO RJ Scaringe will chair the new companys board of directors. The startup also announced an initial investment of $105 million from the venture capital firm Eclipse. While Also hasnt officially announced the products it plans to debut, Yu told the publication Transport Topics that its technology platformwhich has been in the works at Rivian for several yearswill be applicable to e-bikes and smaller three- and four-wheel vehicles, like neighborhood EVs and micro cars. The company plans to announce its flagship product this fall and begin deliveries in the U.S. in 2026, followed by future expansions into Europe, Asia, and South America. A growing demand for micromobility options For Rivian and Also, the push to expand EV options in the micromobility space makes sense, given the markets recent expansion. In November 2024, a McKinsey & Company study found that U.S. shared-micromobility trips (meaning rides on services like rentable bikes and e-scooters) are expected to double by 2035 at the very least, as many cities begin to implement more regulations around car usage. Further, a McKinsey consumer survey of more than 4,000 respondents found that “24% regularly use micromobility (at least once a week) and 30% plan to increase their usage in the future.” The trend of increasingly bulky carsdubbed “car bloat” by Fast Company contributor David Zippermeans that smaller cars, like sedans and station wagons, are being phased out. Instead, carmakersparticularly Detroit’s Big Threeare prioritizing SUVs and pickups, which offer larger margins. The literally increasing size of the market means that there’s an opportunity for competitors who can offer smaller forms of transportation, letting consumers bypass the disadvantages of navigating and parking a hulking vehicle in urban areas. This thesis seems to be one of Also’s guiding principles. In an interview with InsideEVs, Yu shared that Alsos mini-EV offerings are meant to address a growing demand for small vehicles that can navigate dense urban areas with less hassle. “I think there’s this pent-up demand, even if it may not be explicitly known, to do better than sitting in traffic and battling for car spaces for short trip missions, like going to Trader Joe’s, doing a kid drop-off, etc.,” Yu said. In order to compel consumers to choose an EV over a gas-powered alternative, like a standard golf cart, for example, Yu clarified to Transport Topics that Also will aim to offer competitive prices and a more personalized brand experience. An uncertain climate for EVs Also is debuting in the midst of an uncertain environment for EV manufacturers. After taking office in January, President Trump has threatened to take away tax credits for EVs and issued a directive that puts a pause on the construction of new national EV charging infrastructure. Meanwhile, the decline of Elon Musks Tesla has caused some experts to worry that the rest of the industry could face ripple effects from a barrage of bad press around EVs. Still, back in February, Scaringe assured Fast Company that Rivian (and, now, presumably Also) isnt basing its future development plans on current policy. Instead, he said, the company views its decisions on a “much more long-term basis.” The product roadmap we built, the technology weve developed, the way were designing and building and growing the businesses, is really being architected around a long-term view that the market will move over time to 100% electric,” Scaringe said at the time.
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E-Commerce
Notre Dame’s Niele Ivey is doing it the way she learned how to coach, pacing the sideline in stylish attire in a time when most coaches favor far more casual attire. When I first got into coaching, I learned under a Hall of Fame coach,” Ivey said. Being coached under Coach (Muffet) McGraw, her whole staff dressed up. Coaching with her we dressed up. Thats kind of the fabric of Notre Dame, and what Im used to style-wise. As the NCAA Tournament heats up, the styles of Ivey, LSU’s Kim Mulkey, Alabama’s Nate Oats and South Carolina’s Dawn Staley stand out in a sea of coaches in team polo shirts and quarter-zip pullovers. There are a handful of coaches on the men’s side who evoke memories of a time when John Wooden, John Thompson and Denny Crum roamed the sidelines immaculately dressed. Oats, who routinely reminds fans of former Crimson Tide coach Wimp Sanderson with his colorful tailored sports coats, will stand out on the men’s side in the Sweet 16. Fans saw two other throwbacks Texas A&M’s Buzz Williams and Rick Pitino of St. John’s before the Aggies and the Red Storm were eliminated in the second round last weekend. I dont fish, I dont golf, I dont hunt, I dont do all the things that youre supposed to do as a hobby, Williams recently said when asked about his dapper attire. Thats just always been my hobby. Most coaches moved to casual sideline attire during the COVID-19 pandemic and many simply never went back to dressing up for games. Count Auburn coach Bruce Pearl among those who have completely abandoned sideline suits after wearing them for years. Some think that not dressing up on the sideline is disrespectful to the game. But for Pearl its simply a matter of comfort. Think about what a suit is, he said. You put on a 100% cotton shirt and you button it all the way at the top, OK? And then what you do is you put a tie on and then you bring it all the way up and then you choke yourself with it, then you throw a coat on it. And then you go out there and you coach and you just sweat through it. Ivey and Pitino just believe in dressing up Like Williams, Pitino always dresses up for games and has been doing it throughout a career thats spanned decades. His duds have inspired others to follow in his footsteps, notably former assistants UCLA coach Mick Cronin and Kevin Willard, the Maryland coach. And though the 72-year-old Pitino loves his suits and will never change his sideline attire, he wont stand for anybody who criticizes the casual coaching look. Its my preference to just dress up rather than dress down, Pitino said. My son ( newly named Xavier coach Richard Pitino ), who is the closest person to me in coaching, he wears a quarter-zip and he looks great. Hes more comfortable doing that, and Ive just been doing it for so many years 50 years that I believe in dressing up. The elder Pitino made headlines for his attire when he suited up in an all-white Armani ensemble for St. Johns whiteout at Madison Square Garden on Feb. 16. His players raved about the suit after the 79-73 win and Jimmy Fallon wore an identical one alongside Pitino during a skit that opened The Tonight Show earlier this month. Pitino said his stark white suits are one small way he connects with fans. The white suits started at Kentucky, and I did it just to join in with the fans, join in with the student body, just as a fun thing, he said. Theyre all different suits, different outfits throughout the years and Im just having fun with everybody. Its a fun thing. Everybody laughs about it. Everybody has fun. Ivey noted that fashion has taken on a life of its own the last couple of years. You get a chance to really showcase your personality,” the coach of the Irish said. “For me, I like to look nice. I feel the way you look, you play good, feel good, and also just bringing power and elegance to the sideline. Houstons Sampson was once chided for wearing sweatpants Kelvin Sampson, the 69-year-old Houston coach, wore suits on the sideline for decades before the pandemic. Though hed be in a full suit at tipoff, hed famously rip off his tie before the first TV timeout in almost every game while coaching at Oklahoma and Indiana. Though casual wear is the norm for college coaches these days, Sampson admits he might have taken it a bit too far. He said that Arizona coach Tommy Lloyd, a quarter-zip-wearer himself, once chided him for wearing sweatpants on the sideline. I really hadnt noticed that I was wearing sweatpants, Sampson said. So, I went to more of I guess athletic slacks, whatever they call it golf pants, whatever. So, people get on me for the way I look on the sidelines sometimes, but I dont really care. On the womens side some of the male coaches have adopted a more casual look since the pandemic. But the style of many of the female coaches has become part of the game narrative, led by Ivey, Staley and Mulkey. Staley has become a style icon in the last few years as her team has won two of the last three national titles. The former standout player was photographed on the front row at the Gucci show sitting alongside NFL star Stefon Diggs at Milan Fashion Week last year. I dress for comfort. Anything I wear Im comfortable, like I could probably have on the entire day, Staley said. So its more geared to comfort. Im so glad I dont have to wear heels anymore. Staley doesnt know what people will see her don next. I will try on an outfit. If its really nice, I might save it for a later round, she said. Sometimes I havent been able to wear them because we dont advance. But I have quite a few just ideas. I cant wait until the season is over because I can clean my closet. Its not in a good position right now. Mulkey’s outfits becoming must-see TV Many fans can’t wait to see what bold, unpredictable outfit Mulkey will be wearing when she walks out of the LSU locker room. That includes Michigan coach Kim Barnes Arico, who has found herself in the fan fashion zone when coaching against Mulkey. Weve had to play against each other a lot. I always wonder when were playing against her, Whats the wear going to be? I know its something that people think about, Barnes Arico said. But for me, I try to do it a little bit for our players. Even in the locker room just now, Cmon, coach, put the hat on. They want to get a selfie. Its fun. I think its good to have some fun with it. But Im not Kim Mulkey. Im the other Kim, Barnes Arico said with a laugh. Ivey is also one of one, and she takes pride in continuing the Notre Dame fashion tradition. I feel very confident in the choices that I choose as far as clothing, fashion, Ivey said. Its fun, but also I feel powerful. Its just something that has been a fabric of myself being a part of this program for a long time. ___ This story has been corrected throughout o show Alabama’s coach is named Nate Oats. Kristie Rieken, AP sports writer AP Writers Pete Iacobelli and Curt Rallo contributed to this report.
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