Shares of Allied Gaming & Entertainment (ticker AGAE) traded up more than 100% on Friday morning after the company made its initial investment in bitcoin and ether as part of its corporate treasury strategy. The specific amount purchased was not mentioned in the press release.
Allied Gaming said the move is its first step toward incorporating crypto on its balance sheet and lays the foundation for “broader blockchain and Real World Asset (RWA) tokenization initiatives.”
The Nasdaq-listed stock hit a high of $2.18 and shares traded around $1.73 at publication time, up 89% according to Yahoo Finance data. The company has a market cap of $73 million.
“We see cryptocurrency not only as a store of value, but also as a strategic building block for the future of our business,” CEO Yangyang (James) Li stated in the release. “Integrating blockchain and digital assets into our ecosystem is a natural progression of our vision to connect people through gaming, entertainment, and innovative financial technologies.”
The company plans to expand blockchain payment options across its entertainment properties, develop tokenization models for real-world assets like live events and film IP, and lay the groundwork for stablecoin and utility token integration to boost engagement and liquidity.
The New York-based company produces a variety of e-sports and gaming-related content along with live and virtual events.
The value of the stacked crypto holdings of these companies recently crossed $120 billion, according to The Block’s data dashboard, as small-cap companies seek to emulate the returns from the leading crypto treasury company, Strategy.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
