Metaplanet injects $5 billion into U.S. subsidiary to fuel global expansion
June 24th, Japanese company Metaplanet announced on Tuesday that its board of directors has approved a $5 billion capital injection into its wholly-owned US subsidiary. The company established a US branch in Miami, Florida last month for global expansion. Metaplanet stated that it has completed the initial capitalization phase and is now entering an active expansion phase.Metaplanet plans to obtain this $5 billion funding through exercising stock acquisition rights. The company began implementing a Bitcoin accumulation strategy in April 2024, believing that this will enhance shareholder value in the long term.On Monday, Metaplanet announced an addition of 1,111 bitcoins to its treasury, bringing the total holdings to 11,111 bitcoins. According to bitcointreasuries.net data, this makes Metaplanet the eighth largest corporate Bitcoin holder, with only 398 bitcoins less than Tesla.
Celestia Lianchuang responds to FUD: With over $100 million in capital reserves, it is enough to operate for more than 6 years
according to Mustafa Al-Bassam, co-founder of Celestia, despite the increasing FUD (fear, uncertainty, and doubt) targeting Celestia in the market, all founders, early employees, and core engineers are still holding their positions, maintaining the same enthusiasm for the project as when it started. Al-Bassam stated that Celestia currently has over $100 million in reserves and over 6 years of operating funds, and the team is prepared for long-term development. He also mentioned that he has been involved in the cryptocurrency field since 2010 and understands that all tokens will experience about a 95% drawdown in their lifecycle, so he is not surprised by the current market fluctuations.