Japanese investment firm Metaplanet expects to achieve its first consolidated operating profit since 2017. The Tokyo-based firm projects ¥890 million ($5.8 million) in revenue for the fiscal year ending December 31, 2024. This marks a 240% increase from the ¥261 million reported last year. Operating profit is anticipated to reach
Tokyo-listed Metaplanet Inc., often referred to as Japan’s MicroStrategy, has announced the issuance of its fourth series of ordinary bonds worth 4.5 billion yen (approximately $30 million). The proceeds from the bonds will be directed toward purchasing Bitcoin (BTC), continuing the company’s strategic reserve asset expansion. The bonds carry a
BIT Mining Ltd., formerly known as 500.com, has agreed to pay a $10 million penalty to resolve allegations of violating the Foreign Corrupt Practices Act (FCPA). The charges stem from a bribery scheme aimed at influencing Japanese government officials to secure a casino license between 2017 and 2019. Former CEO
Japan’s regulatory stance on crypto exchange-traded funds (ETFs) remains cautious, even as the U.S. and Hong Kong make strides in launching spot crypto ETFs. Despite the increasing demand for these financial products globally, Japan’s Financial Services Agency (FSA) continues to play it safe. The country’s crypto investors face tax hits
Japanese investment firm Metaplanet has increased its Bitcoin put options, adjusting the strike price to $66K from $62K. The maturity date is set for December 27, 2024. Simon Gerovich, CEO of Metaplanet, announced that this move is expected to boost Metaplanet’s option sale yield and generate an additional premium income
Shares in Japanese investment firm Metaplanet soared 15.7% on October 15, following the company’s announcement of its latest Bitcoin purchase. The firm confirmed it had acquired nearly 107 Bitcoin in a strategic move to diversify its investment portfolio, marking its continued interest in the digital asset space. Metaplanet’s decision to
In the last 24 hours, amid several news reports, the cryptocurrency sector witnessed the release of governmental institutions’ Bitcoin holdings data. The governmental reserves alone account for 2% of Bitcoin’s total supply. This indicates a widespread adoption of cryptocurrency in the global economy. Moreover, several banks have begun listing digital
Japan’s Tokyo Electric Power Company (TEPCO) is exploring green energy management through its subsidiary, Agile Energy X. By utilizing surplus renewable energy for Bitcoin mining, the company aims to tackle energy waste and generate significant revenue. According to a report by local media Asahi Shimbun, Agile Energy X revealed that
Japan’s Financial Services Agency (FSA) has unveiled plans to amend the nation’s tax laws to lower the tax burden on crypto assets by 2025. This aligns with the broader tax code reform to bring cryptocurrencies with traditional financial assets. The proposed reforms, detailed in an August 30 request, are part
Bank of Japan (BoJ) Governor Kazuo Ueda has hinted at the possibility of further rate hikes. This comes as the BoJ continues to assess economic conditions and inflation trends. Ueda’s remarks signal a potential shift in the bank’s monetary policy, aiming to address ongoing inflationary pressures. According to recent reports,
