eBay rejected GameStop’s $56 billion takeover proposal, putting Bitcoin exposure at the center of the story. The source, citing CoinDesk and Reuters, said eBay’s board turned down the offer on May 12, calling it “neither credible nor attractive,” with the financing package emerging as the main issue.
GameStop CEO Ryan Cohen structured the bid with $9.4 billion in cash and $20 billion in debt financing from TD Bank. eBay’s board viewed that funding as unreliable. At the same time, GameStop holds 4,709 BTC pledged as collateral on Coinbase Prime, which has led traders to watch whether the company could sell part of its roughly $368 million Bitcoin position to support a higher offer.
Bitcoin Stays Near $80,500 as ETF Flows Turn Positive
Bitcoin was holding around $80,500 even as macro data remained in focus. The source said April CPI came in at 3.8%. In parallel, spot Bitcoin ETFs recorded $27.2 million in inflows on May 11 after seeing $145.7 million in outflows the prior week. Exchange reserves also remained near seven-year lows, pointing to continued accumulation by corporate treasuries and ETF buyers.
That combination matters. Equities were under pressure, but crypto prices did not show the same scale of retreat, suggesting capital rotation inside the market rather than a broad exit from digital assets.
DOGE and LINK Hold Key Levels
Outside Bitcoin, Dogecoin showed relative stability. The source placed DOGE at $0.1116, up 1.17% over 24 hours, with whale accumulation at a six-month high. Support was listed at $0.105 and resistance at $0.13.
Chainlink traded at $10.29, down 7% over the same period but still above $9.30 support. According to the article, more than $3 billion in DeFi assets shifted to Chainlink’s CCIP after a rival bridge failed on May 11. It also said the Moscow Exchange plans a LINK index.
Promotional Presale Claims Need to Be Separated From Verified Market Facts
The source also spent significant space promoting the Pepeto presale, claiming it has raised $10 million at a price of $0.0000001870, while advertising cross-chain functions, AI contract scanning, and 173% APY staking.
Those sections rely heavily on project marketing language, return calculations, and statements tied to insiders or future listing expectations. The clearer, verifiable market story remains the same: after eBay rejected GameStop’s bid, traders are focused on GameStop’s Bitcoin holdings, its financing capacity, and the way major crypto assets have held up following the latest inflation print.