CoinDesk Podcast Network eBay Rejects GameStop's $56B Bid | CoinDesk Daily
May 12, 2026
A boardroom standoff as eBay says no to a $56 billion takeover offer. Discussion of whether a bitcoin stake could be used to bolster bids. A crypto miner pivots from big ASIC buys toward AI capacity. Quick recap of hotter-than-expected April inflation numbers.
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eBay Rejects GameStop Bid Over Financing And Rating Risks
- eBay's board called GameStop's $56 billion takeover bid neither credible nor attractive, citing financing and rating concerns.
- The offer required $20 billion in TD Bank financing that depended on an investment-grade credit rating Moody's said was unlikely.
Deal Hinged On Financing Contingent On Investment Grade Rating
- The proposed deal hinged on $20 billion of TD Bank financing that required an investment-grade credit rating.
- Moody's warned the takeover would be credit negative for eBay, making that financing condition nearly impossible to meet.
Mara Cuts Bitcoin Holdings And Pauses Mining Expansion
- Mara Holdings sold $1.5 billion of Bitcoin last quarter, dropping to the fourth-largest public Bitcoin holder.
- The company also signaled it won't pursue large-scale ASIC purchases and is deprioritizing mining expansion.