The stock price of the US-listed gaming company AGAE rose by 105% after establishing a digital asset treasury

ChainCatcher news, Nasdaq-listed gaming company Allied Gaming & Entertainment (stock code AGAE) saw its stock price rise over 100% on Friday after the company announced its first investment in Bitcoin and Ethereum as part of its corporate treasury management strategy.

The company stated that this move is the first step in incorporating cryptocurrency into its balance sheet, laying the groundwork for "broader blockchain and real-world asset (RWA) tokenization initiatives." During trading, the stock price peaked at $2.18, and at the time of writing, it was trading at approximately $1.73, an increase of 89%, with a market capitalization of about $73 million.