eBay Rejects GameStop $56B Bid, Bitcoin Dips 1.2% to $80.6K on Exposure Fears

eBay's board rejected GameStop’s $56 billion half-cash, half-stock takeover offer, deeming it neither credible nor attractive due to financing doubts. Markets responded skeptically: eBay shares traded around $107—well below the $125 offer—while GameStop fell 4% and bitcoin dropped 1–1.2% to $80.6k. The decision refocuses attention on GameStop’s $368 million bitcoin exposure from ~4,709 BTC via covered calls now at Coinbase Prime, potentially monetizable for a higher bid but challenged by Moody’s credit warnings and contingent $20 billion TD financing.