$1.1 billion debt buyback and 4,709 BTC hedging strategy: Global listed companies initiate "balance sheet overhaul"

According to BBX data, yesterday global listed companies showed a transition from "one-sided accumulation" to "asset securitization and liability structure optimization" in their operations with crypto treasuries. The core data is as follows:

• $1.1 billion debt buyback: MARA Holdings (NASDAQ: $MARA) confirmed yesterday the completion of cashing out 15,133 BTC, raising approximately $1.1 billion to repurchase discounted convertible senior notes. This move successfully reduced the company's debt by about 30% and captured a book premium of $88 million through "debt repayment in cryptocurrency."

• 4,709 BTC covered calls: GameStop (NYSE: $GME) announced yesterday that it has reached an agreement with Coinbase to pledge 4,709 BTC in its treasury as collateral, executing a covered call strategy. This marks the beginning of "retail concept stocks" utilizing their holdings to generate passive income.

• $5 million increased allocation guideline: Genius Group (NYSE: $GNS) announced yesterday that it has purchased an additional $5 million worth of Bitcoin. The company has established a "Bitcoin first" guideline, planning to continuously convert over 90% of its cash reserves into BTC.

• Spot ETF listed on the NYSE: Morgan Stanley (NYSE: $MS) officially announced yesterday that its spot Bitcoin ETF has been approved for listing on the NYSE. As a Wall Street giant, this move signifies that top investment banks have completed the transition from "channel merchants" to "asset managers."

• Volatility cooling report: Charles Schwab (NYSE: $SCHW) released the "2026 Bitcoin Maturity" report yesterday, indicating that BTC volatility has fallen to historical lows, gradually meeting the "compliance threshold" for traditional pension funds to enter treasury allocations.