Asia Express

Japan’s Metaplanet set to become third largest corporate holder of Bitcoin, as new Korean exchange accounts surge 450%. Asia Express

Metaplanet, a publicly traded Japanese firm often called “Asias MicroStrategy,” is raising more than 116 billion yen ($745 million) to expand its Bitcoin holdings.

On Jan. 28, the company announced it had issued 21 million shares through moving strike warrants, which grant investors stock acquisition rights with adjustable exercise prices. While such warrants are typically issued at a discount, Metaplanet’s offering does not as it sets the share price at the full closing value on the pricing date.

The company claims this is the largest capital raise in Asian equity markets dedicated to Bitcoin purchases.

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China banker says Trump’s Bitcoin plan contradicts his US dollar dreams as Hong Kong busts deepfake AI pig butcher scammers. Asia Express.

Wang Yongli, former vice president of the Bank of China, has criticized US President-elect Donald Trumps Bitcoin reserve proposal, arguing it conflicts with Trumps goal of maintaining the dollars global dominance.

Bitcoins decentralized nature offers no advantage to bolstering the dollars global status. On the contrary, excessive deregulation and hindering the development of a digital dollar could harm the dollar’s international position, Wang wrote in an opinion piece for Chinas state-backed financial magazine.

The former banker questioned the feasibility of establishing a national Bitcoin strategic reserve, warning that both a government or central bank Bitcoin reserve would pose significant risks and uncertainties.

He highlighted the limitations of the US Treasury Departments Foreign Exchange Stability Fund, valued at $206 billion as of the end of November, noting it would be insufficient to establish a meaningful reserve without incurring additional debt. He also said that seized Bitcoin Trump’s original proposal was to turn Bitcoin seized from Silk Road and other criminal enterprises into a stockpile should be returned to their rightful owners.

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Will the real “MicroStrategy of Asia” please step forward? Almost half of top 20 countries for crypto adoption are in Asia: Asia Express 2024

With the end of the year in sight, Asia Express looks back at some of the most significant developments for Bitcoin and cryptocurrency in the region in 2024.

MicroStrategy has become the poster child for Bitcoin, snapping up 439,000 BTC, according to BitcoinTreasuries.NET around 2% of the entire supply.

Across Asia, Saylors Bitcoin blueprint has inspired several firms to bet their future on Bitcoin, with more expected to follow suit.

As Asia Express reported last week, Chinese selfie app developer Meitu invested in 31,000 ETH and 940 BTC in the spring of 2021 and sold it all from November on, earning it a tidy profit.

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Indian public firm and MicroStrategy’s Bitcoin blueprint, Japanese exchange’s SPAC merger for Nasdaq listing: Asia Express

Jetking Infotrain unveiled that it has become the first publicly listed Indian firm to adopt Bitcoin as a reserve asset. 

Talking to Bitcoin proponent Max Keiser in a Dec. 9 X post, the companys chairman Avinash Barwani said his firm now holds 12 BTC.

The whole idea is to get Bitcoin on the balance sheet for enterprises and make sure that we have equity and Bitcoin in place so that over a period of time, the value of the company increases and the shareholders get their value, Barwani said.

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Asia’s MicroStrategy Meitu has sold all of its 940 Bitcoin and 31K ETH while Sth. Korea looks to legalize corporate crypto buys. Asia Express

Chinese selfie app developer Meitu has cashed out all of its cryptocurrency holdings, earning roughly an 80% profit. The company began selling its crypto assets in November. 

In a Dec. 4 statement, Meitu confirmed that it no longer holds any cryptocurrencies.

Meitu invested in 31,000 Ether and 940 Bitcoin in the spring of 2021, earning the nickname Asias MicroStrategy.

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Dragon Ball and One Piece producer’s new blockchain game, Justin Sun is the largest investor in Donald Trump’s WLFI: Asia Express

Japanese anime production giant Toei Animation, known for generational series like Dragon Ball, One Piece, and Sailor Moon, has partnered with South Korean blockchain firm Wemade to develop a blockchain game with the working title DenDenGarden.

The game is based on Toeis DenDekaDen intellectual property, launched in partnership with Japanese Web3 company Strata in 2022.

DenDekaDen tells the story of seven Kyoto spirits striving to ascend to godhood.

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Bitcoin’s surge attracts tax vultures, BTC ruled a commodity in China but legal risks abound, Vitalik Buterin meets Moo Deng: Asia Express.

Cryptocurrencies are considered commodities in China and are not explicitly prohibited by law, according to commercial judge Sun Jie at Songjiang District Peoples Court in Shanghai.

However, crypto activities like trading, issuance, or payments are considered illegal financial activities.

Suns statement posted on Songjiang Courts official WeChat channel provides legal guidance on cryptocurrencies during a booming market cycle, which she calls the new gold rush.

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Chinese public servant jailed for for selling state secrets for crypto, and Korean YouTuber accused of fleecing $230M from 15,304 followers.

A former Chinese government employee, identified as Wang Moumou (a placeholder name that translates to “so-and-so” used in China to anonymize individuals) has been sentenced to life imprisonment for selling state secrets to foreign intelligence agencies in exchange for 1 million yuan (about $138,000) in cryptocurrency payments.

Chinas Ministry of State Security said in a WeChat post that Wang racked up big losses and debts from his crypto trading.

Desperate for additional income, he sought part-time work on an online forum, revealing he was a government employment in the process. This post attracted the attention of a foreign intelligence agent, who offered crypto payments for classified information.

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Asian investors trade overnight to catch the Trump-fueled Bitcoin surge, China accelerates digital yuan push: Asia Express

The cryptocurrency industry celebrated Donald Trump’s victory in the 2024 United States presidential election, as Bitcoin surged to new all-time highs. Asian markets joined in the rally, local sources tell Magazine.

A lot of Asian traders were working overnight to catch this surge and are taking profit in a buy the rumor sell the news dynamic, especially with the Polymarket bets that were settled already, Hong Kong-based market analyst Justin dAnethan tells Magazine.

Trump’s victory sparked optimism in Singapore’s crypto sector as well, a city-state in the race with Hong Kong to attract digital asset firms.

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