© Reuters

GameStop (NYSE:) has fired its CEO Matt Furlong, the executive responsible for launching the company’s push into nonfungible tokens (NFTs).

According to a June 7 statement, Furlong was terminated, while Ryan Cohen — a billionaire investor held in high esteem by memestock traders following the notorious GameStop short squeeze in 2021 — was promoted to the role of executive chairman. Minutes after the company announced Furlong’s termination, Cohen tweeted a cryptic message stating, “Not for long.“