"Regulatory uncertainty in the crypto sector" has caused GameStop to discontinue support of it's cryptocurrencies' wallets.
Bloomberg reports that in recent shareholder calls, GameStop has kept much of its information on cryptocurrencies to a minimum and the switch out of holding wallets seems to indicate even more withdrawal from it's association. Months after the company launched it's digital wallet, faced with numerous layoffs, CEO Matt Furlong stated that GameStop will continue to grow it's online business and launch new products from the blockchain group.
These changes however don't seem to have been suitable for the company, as shortly after half of it's employees were axed, shares fell by 5%.
Come November, GameStop will no longer support it's iOS and Chrome Extension wallets. Users will not be able to manage their digital assets through GameStop. The company has advised all customers to make sure that they have access to their secret passphrase, so they may recover their account in any compatible wallet.
