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MEXC Tells Trader To Meet In Malaysia To Do KYC, Recover $3.1 Million
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MEXC Tells Trader To Meet In Malaysia To Do KYC, Recover $3.1 Million

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A crypto whale who has $3.1 million in funds frozen on crypto exchange MEXC claims he was told to fly to Malaysia to prove his identity in person to have his funds released quickly.

According to screenshots shared by the pseudonymous crypto trader “White Whale,” MEXC’s global head of customer service offered him an “exclusive invitation” to Malaysia to have an “in-depth communication with the leadership team” about the frozen assets. 

Source: The White Whale

The reported move would be outside the norm for crypto exchanges. Know Your Customer solutions typically involve proof of address, verification of source of funds, identification, and other documents that can be sent online.

Screenshots of emails and Telegram chats shared by the trader also suggest that MEXC tried to lure them with a potential partnership and “trading perks,” but the crypto trader rejected the offer, criticizing MEXC for using coercive tactics while flagging safety concerns about flying to a foreign country under the circumstances. 

“Crypto kidnappings are on the rise – why would someone with over $100M on-chain ever agree to fly to another country and enter the lion’s den of an organization he’s publicly protesting against?”

MEXC says it doesn’t freeze assets without reason 

A MEXC spokesperson told Cointelegraph that it “strictly adheres to risk management policies and does not freeze assets without valid reasons.”

MEXC said it may take measures in response to price manipulation, wash trading, self-trading, front-running, fraudulent trading and false quoting. 

The spokesperson did not address the trader’s claims of being offered to fly to Malaysia to resolve the situation.

Crypto trader has been pressuring MEXC to release funds

The crypto whale added he has completed all other KYC checks, including face verification, phone number, and home address, and noted that MEXC’s Terms of Service makes no mention of in-person KYC.

Earlier on Monday, White Whale launched a $2 million social media pressure campaign against MEXC in an attempt to make them hand over the funds.

The campaign involves crypto traders minting a free non-fungible token (NFT) on the Base network and tagging MEXC or its chief operating officer’s X account with the “#FreeTheWhiteWhale” tag. 

For completing the tasks, a $1 million USDC (USDC) bounty will be split equally between the first 20,000 NFT holders, provided that MEXC releases the frozen funds.

White Whale isn’t the first MEXC user to complain

MEXC’s comments to Cointelegraph were similar to the company’s statement in March, in response to a series of “ungrounded allegations” regarding the freezing of customer assets.

Related: Coinbase data scandal sparks calls to scrap KYC

Another MEXC user, Pablo Ruiz, said over $2 million worth of the Tether (USDT) stablecoin was frozen in April due to a “risk control” protocol without prior notice, explanation, or an opportunity to cooperate.

Ruiz said he was met with automated-looking copy-paste responses, with one line stating: “Due to risk control activation, your account review will take 365 days. Contact us again on 04/17/2026.”

Magazine: Solana Seeker review: Is the $500 crypto phone worth it?



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French Chipmaker Sequans Plans $200 Million Share Sale to Build Bitcoin Treasury

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In brief

  • The Paris-based chipmaker aims to raise up to $200 million through ADS issuance.
  • Funds will be directed toward expanding Bitcoin holdings under long-term plan.
  • The company already holds more than 3,000 BTC, with a 100,000 target by 2030.

Sequans Communications (NYSE: SQNS), a Paris-based semiconductor firm listed on the New York Stock Exchange, has filed to raise up to $200 million through an at-the-market equity program, with proceeds directed primarily toward Bitcoin purchases under its long-term treasury strategy.

The new program supports the first phase of Sequan’s efforts at establishing its treasury foundation. Sequans intends “to use it judiciously to optimize treasury,” CEO Dr. Georges Karam said in a statement on Tuesday.

Its latest SEC filing enables the company to issue American Depositary Shares at its discretion. ADSs are certificates that allow U.S. investors to trade shares of foreign companies on American exchanges.



In July, Sequans also raised $189 million through secured convertible debentures and warrants, bringing total recent financing to roughly $376 million.

So far, Sequans already holds more than 3,000 Bitcoin, worth about $331 million at current prices, making it one of the largest corporate holders of Bitcoin in Europe, behind only Germany’s Bitcoin Group SE. It has also set an ambitious target of 100,000 by 2030.

‘Scalable if tailored’

Raising equity to buy Bitcoin “certainly dilutes existing shareholders, and it ties the company’s valuation more directly to Bitcoin’s volatility,” Dan Dadybayo, research and strategy lead at Unstoppable Wallet, told Decrypt.

But these prospects largely depend on execution, he argues.

“Equity-funded BTC purchases act less like speculative punts and more like leveraged exposure: shareholders accept dilution in exchange for long-term alignment with Bitcoin’s growth,” he said.

Still, “smaller firms can innovate using structured financing, options strategies, or BTC-backed deals to accumulate effectively. The model is not copy-paste, but scalable if tailored,” Dadybayo said.

Dadybayo adds the risk isn’t with short-term price swings, but on “whether the company can maintain operational discipline and avoid overextension during downturns.”

While Sequans can “accumulate BTC at scale relative to its size,” he notes that it lacks “the financial cushion to absorb prolonged drawdowns without shareholder pain.”

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Sequans Launches $200 Million Equity Program To Buy Bitcoin
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Sequans Launches $200 Million Equity Program to Buy Bitcoin

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French semiconductor maker Sequans Communications is doubling down on Bitcoin (BTC) with a fresh $200 million at-the-market equity offering, aiming to expand its crypto treasury and eventually reach 100,000 BTC by 2030.

The 4G and 5G chipmaker said in its SEC filing that it will issue American Depositary Shares (ADS) at its discretion, depending on market conditions. CEO Georges Karam said the move is designed to “optimize our treasury, increase Bitcoin per share, and deliver long-term value to shareholders.”

Sequans’ Current Bitcoin Holdings

According to BitBo data, Sequans currently holds 3,171 BTC worth around $349 million, making it Europe’s second-largest corporate Bitcoin holder, behind Germany’s Bitcoin Group SE Bitcoin Holdings, which owns 12,387 BTC. With proceeds from the new equity program, Sequans could buy another 1,814 BTC, bringing its total stash close to 5,000 BTC, on par with Semler Scientific.

The equity plan comes during a market dip, with Bitcoin trading at $109,862, down 13.3% from its $124,517 all-time high earlier this month. Other treasury giants are also buying the dip. Strategy added 3,081 BTC on Monday, while Japan’s Metaplanet picked up 103 BTC.

Meanwhile, Ethereum (ETH) treasury companies are gaining attention. BitMine Immersion Technologies now holds $7.5 billion in ETH, while SharpLink and The Ether Machine round out the top three. ETH adoption has fueled a 198% rally since April 9, narrowing the gap with Bitcoin this cycle.

Sequans closed Monday at $0.96, down 6.8% but was slightly recovering in after-hours trading.

Also Read: Philippines Proposes 10,000 Bitcoin Strategic Reserve



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Bitcoin, Ethereum and Dogecoin Slide as Crypto Liquidations Top $900 Million

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Major cryptocurrencies like Bitcoin, Ethereum, XRP, and Dogecoin continued to fall Monday, triggering a wave of liquidations that topped $900 million over the past 24 hours.

Bitcoin dropped below $110,000 for the first time since early July, spearheading a market-wide swoon after a whale unloaded 24,000 BTC worth $2.7 billion on Sunday. The continued dive also comes amid fresh doubts about the prospects of an interest rate cut and other macroeconomic uncertainties.

The largest cryptocurrency by market value was recently trading at $110,441, down 2.2% over the past 24 hours. BTC is down more than 5% over the past week.

“The weekend whale sale may have sparked the initial downdraft, but the broader picture is one of thinning liquidity and skittishness around macro,” Joe DiPasquale, CEO of crypto fund manager BitBull Capital, wrote to Decrypt.

“With rate-cut hopes being pushed further out and equities wobbling, crypto was vulnerable to a sharper move lower once heavy supply hit the market,” he added. “What we’re seeing is less about one seller and more about a market that remains highly sensitive to outsized flows against a backdrop of macro uncertainty.”

Ethereum, the second largest digital asset, plunged 8% to trade at $4,375, just a day after reaching its latest record high. ETH topped $4,900 for the first time in its history on Sunday, two days after breaking its long-standing price record from 2021.

Crypto prices are in the red up and down the charts, with Dogecoin diving by more than 10% to $0.208, Solana falling 8.5% to $186 after reaching a six-month high on Sunday, and XRP dropping nearly 6% to $2.85.

More than $900 million worth of futures positions have been liquidated across the crypto market over the last day, per data from CoinGlass, led by Ethereum at $320 million and Bitcoin at about $210 million. Long positions, or bets that an asset’s price will increase, dominate the carnage at about $817 million out of the $903 million in total liquidations.

So far on Monday, there has been about $895 million worth of crypto liquidations. Myriad users don’t believe that there will be a single day with $1 billion worth of liquidations by the end of the month, giving it a roughly 36% chance as of this writing—but that mark has grown over the course of the day as prices have dropped.



(Disclaimer: Myriad Markets is a product of Decrypt’s parent company, DASTAN.)

The declines come as markets fretfully await the latest U.S. economic data reports and other measures that may influence the Federal Reserve’s next rate decision. On Friday, Fed Chair Jerome Powell buoyed crypto and other risk-on assets when he hinted at a cut, which would be the first since last December. A decline in interest rates typically helps markets by freeing capital for investment.

On Friday, the U.S. Bureau of Economic Analysis releases the July Personal Consumption Expenditures report, the Fed’s favored price gauge. Analysts expect the PCE to rise to 2.9% annually, ticking up slightly from June. On Tuesday, The Conference Board’s monthly index is expected to show a decline in consumer confidence.

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AI Titans Back $100 Million Super PAC to Boost Industry’s Status in Washington

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In brief

  • Top AI firms and tech leaders, including Andreessen Horowitz and OpenAI’s Greg Brockman, unveiled a $100 million fund to back pro-AI candidates.
  • The fund, which mirrors crypto PAC Fairshake, will target races in California, New York, Illinois, and Ohio this year before moving to federal contests and the 2026 midterms.
  • Supporters say the effort is needed to secure U.S. leadership in AI and to push back against policies that could slow innovation.

A handful of America’s most powerful AI companies, investors and tech entrepreneurs announced Monday the creation of a $100 million political spending fund aimed to support candidates “aligned with the pro-AI agenda” in state and federal races over the next two years. 

Leading the Future shares much DNA with similar political spending operations used by the crypto industry. The AI fund is backed by Andreessen Horowitz, one of the core contributors to Fairshake—-the $300 million pro-crypto PAC that successfully upended the 2024 election. Both Leading the Future and Fairshake are also helmed by the same political strategist, Josh Vlasto. 

Other backers of Leading the Future include OpenAI co-founder Greg Brockman, Silicon Valley venture capitalist Ron Conway, Palantir co-founder Joe Lonsdale, and Perplexity.



Leading the Future plans to get involved in primary and general elections at both the state and federal level, and will oppose candidates who do not support a “pro-innovation” agenda ensuring the United States’ global dominance in AI, the group said. 

The organization intends to, through a network of super PACs and nonprofits, begin spending this year on state races in California, New York, Illinois, and Ohio—hotbeds of AI development in the United States. It will then expand to federal races ahead of the 2026 midterm elections. 

A source familiar with the fund’s operations told Decrypt that the success of pro-crypto political spending groups like Fairshake offered a blueprint for AI leaders to now follow.

AI and crypto, though, while both emergent tech industries with deep pockets, are two different beasts in the policy arena. Going into 2024, crypto was struggling, with a slew of scandals plummeting the industry to an all-time low level in political salience. A historic political spending spree reversed those fortunes entirely, partly by directing ire squarely at easily identifiable enemies like then-SEC chair Gary Gensler and Sen. Elizabeth Warren (D-MA).

AI, on the other hand, does not currently have its own version of a Gensler or Warren to target. The industry is a firmly ascendant cause in the second Trump administration, and no contingent of the Democratic Party has staked out positions in opposition, as once occurred with crypto. 

But crypto’s remarkable political spending success story didn’t just influence election outcomes. It also appears to have put substantial pressure on lawmakers to quickly pass legislation favorable to the industry. Amid hyper-partisan tensions in Washington, Congress passed a major crypto bill at breakneck speed, with crucial support from Fairshake-backed candidates.

When asked whether any lawmakers currently in office should be considered “anti-AI”—or if not, what the purpose of Leading the Future then is, a spokesperson for Andreessen Horowitz referred Decrypt to an X post made this morning by Collin McCune, the venture firm’s head of government affairs. 

“Policymakers in Washington and our state capitals are weighing thousands of proposals right now that could make it impossible to build,” McCune said. “The only way to counter entrenched interests and outdated thinking is to make sure builders have a voice at the table.”

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Ethereum Treasury ETHZilla Reveals $250 Million Buyback After Stock Craters

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In brief

  • Ethereum treasury company ETHZilla has announced a $250 million stock buyback program.
  • The firm’s stock is down by more than 50% over the last week, evaporating most of its recent gains.
  • Ethereum recently hit a new all-time high price, breaking a record that stood since 2021.

ETHZilla Corporation—a publicly traded Ethereum treasury firm formerly known as 180 Life Sciences—announced Monday that its board has authorized a stock repurchase program of up to $250 million of the company’s outstanding shares, effective immediately.

The move comes following a substantial dive for the firm’s stock price last week. ETHZilla, which trades on the Nasdaq under ETHZ, is down more than 53% on the week to a current price of $3.18, with the drop coming after a surge that tripled the stock’s value after billionaire VC Peter Thiel bought a stake in the company.

Last week’s price decline came as the company filed with the SEC on Friday to offer 74.8 million convertible shares, as part of an agreement reached on August 8. The filing fueled dilution concerns, as the total amount of outstanding shares is set to grow from 164.4 million to over 239.2 million.



ETHZ stock is down nearly 3.8% on the day following the stock buyback announcement. ETHZilla has given up most of its recent gains following last week’s price plunge, with the stock showing a less than 5% rise over the last month.

The Palm Beach, Florida-based company also disclosed it now holds 102,237 ETH at an average acquisition price of $3,948.72, valued at approximately $474 million as of this writing. The firm also has about $215 million in cash equivalents. The Ethereum tally includes 7,600 ETH acquired over the last week.

“At ETHZilla, we continue to deploy capital to accelerate our Ethereum treasury strategy with discipline and record speed,” said ETHZilla Executive Chairman McAndrew Rudisill, in a release. “As we continue to scale our ETH reserves and pursue differentiated yield opportunities, we believe an aggressive stock repurchase program at the current stock price underscores our commitment to maximizing value for shareholders.”

ETHZilla plans to stake its most recently purchased Ethereum tokens to Electric Capital’s proprietary Electric Asset Protocol to generate yield, the company said.

The stock repurchase program is scheduled to expire by June 30, 2026, or when $250 million in shares has been repurchased. The program will be funded through working capital and potential future fundraising efforts.

The price of Ethereum hit an all-time high Friday for the first time in nearly four years, and continued to rise higher on Sunday, peaking at a new record of $4,946 according to data from CoinGecko. It’s down more than 4% over the last 24 hours, however, falling to a current price of $4,604 as the broader crypto market sags.

Despite the dip, Myriad users believe that ETH will continue to rise to new peaks and cross the $5,000 milestone by the end of 2025, with 86% of users predicting such a move. (Disclaimer: Myriad Markets is a product of Decrypt’s parent company, DASTAN.)

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Sunswap Drives TRON DeFi Expansion With 16 Million Transactions
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Sunswap Drives TRON DeFi Expansion With 16 Million Transactions

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Tron (TRX) has been gaining significant attention recently, both for its strong fundamentals and its steady price action within a clearly defined uptrend. Despite market volatility across the crypto sector, Tron has consistently demonstrated resilience, supported by its growing ecosystem and dominance in the stablecoin market.

One of the key drivers of this momentum is Sunswap, the leading decentralized exchange (DeX) on the Tron network. According to CryptoQuant data, Sunswap continues its rapid ascent, crossing major milestones in transaction activity and user adoption. The platform is now natively integrated into several widely used wallets, including BitgetWallet, TrustWallet, and TronLink, making it easier for millions of users to access Tron’s DeFi ecosystem seamlessly.

In addition to DeFi growth, Tron has established itself as the primary hub for USDT supply, with over $80 billion of Tether circulating on the blockchain. This leadership in stablecoin adoption underscores Tron’s role as a backbone of liquidity in crypto markets, facilitating fast and cost-efficient transactions.

Sunswap Transactions Point To Growing Strength In Tron

According to top analyst Darkfost, Sunswap has now surpassed a major milestone with over 16 million transactions since its launch, cementing its role as Tron’s leading decentralized exchange. Despite a volatile market in 2025, Sunswap’s weekly transaction count has remained remarkably steady, showcasing resilience and consistent user activity. This strength is further reflected in Tron’s active addresses, which have now exceeded 2.5 million, a figure that continues to trend upward in a stable manner.

Sunswap Weekly Active Addresses | Source: Darkfost

Sunswap’s growth is not only about volume but also about diversification. The platform has been expanding its offering by listing more tokens, including TRUMP, the token tied to US President Donald Trump, which has gained attention among traders. This diversification reflects Sunswap’s adaptability and ability to capture interest across different market narratives.

Looking back at 2024, transactions involving the top 20 tokens exceeded 12 million, with WTRX and USDT dominating activity. However, other tokens like SUNDOG and JST also had a noticeable presence, while the share of smaller tokens labeled as “OTHERS” grew.

In 2025, with more than 6 million transactions already recorded, the trend is shifting. The dominance of WTRX appears to be decreasing, while newer entrants such as LMTV, SUNDOG, and JST are gaining traction. This transition highlights Sunswap’s evolving ecosystem, where trading activity is becoming more evenly distributed across a broader set of assets, signaling a healthier and more sustainable DeFi environment on Tron.

TRX Price Analysis: Testing Support

The 4-hour chart of Tron (TRX) shows the asset consolidating after an extended uptrend, with price currently trading near $0.3518. The short-term structure remains bullish, but momentum is slowing as TRX tests its 50-period moving average around $0.3550. This zone is acting as immediate resistance, while the 100-period SMA at $0.3520 is serving as dynamic support.

Tron fails to set a higher high | Source: TRXUSDT chart on TradingView

Over the past month, TRX has consistently made higher highs and higher lows, confirming a bullish market structure. However, the recent sharp rejection from the $0.37 level highlights increasing selling pressure near local highs. A failure to defend the 100-SMA could expose the 200-SMA around $0.3390, which aligns with a stronger support area.

If bulls manage to hold above $0.3520 and reclaim the 50-SMA, a retest of $0.365–$0.370 is likely, potentially opening the door for a breakout toward new highs. Conversely, a breakdown below $0.3390 would suggest deeper consolidation, potentially dragging TRX toward the $0.32 region.

The trend remains intact, but momentum indicators suggest caution as the market consolidates after its strong rally. The coming sessions will be crucial in determining whether TRX resumes its uptrend or enters a corrective phase.

Featured image from Dall-E, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Strategy Adds $357 Million in Bitcoin After Resuming Common Stock Offerings to Fund BTC Buys

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In brief

  • Strategy purchased roughly 3,000 Bitcoin worth $357 million.
  • The company issued common stock to fund the purchase.
  • The move conflicted with a newly adopted equity issuance policy.

Strategy, formerly MicroStrategy, purchased $357 million in Bitcoin last week, selling common stock to fund acquisitions for the first time in nearly a month, the company said in a press release.

The Tysons Corner, Virginia-based firm issued $310 million worth of Strategy shares to fund its latest purchase. The move represented a return to normal after the Bitcoin-buying firm made a series of adjustments to its corporate playbook.

Strategy signaled a week ago that it was modifying a newly adopted equity issuance policy, which restricted its ability to issue common shares when its stock traded at a certain valuation. Although the framework was intended to show “discipline,” Strategy gave itself some wiggle room by saying the framework would be set aside “when otherwise deemed advantageous.”

The company said it would no longer issue common stock when Strategy’s so-called mNAV was below 2.5x, or its shares traded at less than a 2.5x premium to its Bitcoin holdings. Analysts lauded the shift when it was announced less than a month ago alongside Strategy’s second-quarter earnings performance, marked by $10 billion in profit.



Strategy shares fell nearly 2.7% to $348 on Monday, according to Yahoo Finance. The stock has cooled significantly from a high of $457 last month, but shares are still up 20% year-to-date. The price of Bitcoin, meanwhile, fell to $112,580, down 1.6% over the past 24 hours, although BTC is up 20% year-to-date, according to crypto data provider CoinGecko.

When Strategy’s shares trade at a premium to its Bitcoin holdings, the company is able to grow the amount of Bitcoin it owns per share issuing common stock. This year, Strategy has introduced several types of preferred shares as a new source of funding.

Strategy’s most recent Bitcoin purchase, for example, was partly funded by its SRTK, STRF, and STRD offerings. Strategy most recently raised around $47 million by selling the preferred stocks, which carry various obligations and dividend payments.

Damped Spring Advisors CEO and CIO Andy Constan is among those that have compared Strategy to a Ponzi Scheme, arguing the firm will have to issue common stock to fund dividends that it’s obligated to routinely pay its preferred shareholders.

Decrypt reached out to Strategy for comment.

Under an at-the-money (ATM) offering program established in May, Strategy can issue another $16.7 billion in common stock to pad its stockpile. As of Monday, the Bitcoin-buying firm held roughly 632,500 Bitcoin worth $70.5 billion, according to Bitcoin Treasuries.

In some ways, Strategy’s about-face on equity issuance is advantageous, according to Steven Lubka, VP of investor relations at Bitcoin treasury firm Nakamoto. It makes the company’s next funding move all that much harder to see coming, he told Decrypt.

“It makes him harder to predict,” Lubka said, referring to Strategy co-founder and Executive Chairman Michael Saylor. “The end state of this is that now you really don’t know if he’s going to hit the ATM every week.”

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Cristiano Ronaldo Meme Coin Rumors Fuel $143 Million CR7 ‘Rug Pull’

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In brief

  • Rumors circulated the internet over the weekend that Cristiano Ronaldo was set to release an official meme coin.
  • As a result, several fake tokens were launched with one touching a $143 million market cap before crashing down 98% all within 15 minutes.
  • On-chain analysis firm Bubblemaps told Decrypt it was likely an organized effort from a group of crypto influencers.

A spree of fake tokens inspired by soccer icon Cristiano Ronaldo cropped up over the weekend, thanks to rumors he was about to release a meme coin. But they don’t appear to be more than rumors as Decrypt could not find any credible sources on the matter. 

One of the tokens reached a $143 million market cap before crashing 98%—all in just 15 minutes.

The CR7 token, based on the athlete’s nickname, appears to have been promoted by several influencers. But most of them have already deleted their posts. On-chain analyst firm Bubblemaps believes the fake meme coin was likely an organized group effort.

“It is likely that after Kanye West launched YZY, some influencers jumped onto the wave and claimed Cristiano Ronaldo would launch a token too, using their accounts,” pseudonymous Bubblemaps sleuth 0xToolman told Decrypt. “Then they launched an unendorsed token and posted the contract address, luring investors in, only to rug pull shortly after.”

Many of the rumors cling to Ronaldo’s partnership with Binance, which started in 2022 and has seen the release of four NFT collections. However, most fake tokens that launched were found on Solana, with at least five other seemingly fake CR7 meme coins launching on the network—all of which failed to break past a $1 million market capitalization.

It was only the influencer-pushed token that made any waves, soaring to a $143.18 million market cap in just six minutes. But the buzz was fleeting. The token crashed 98% over the next nine minutes, according to DEX Screener. The price drop came as a result of a series of quick sales by several addresses, Bubblemaps told Decrypt.

There have been no social media posts from Ronaldo regarding any plans for an official token, outside of the released Binance NFTs.

The launch follows Ye, formerly Kanye West, launching his own official token after half a year of speculation. YZY hit a $411.23 million market cap an hour after it was announced, per DEX Screener, before plummeting 74% to $105 million over the next 24 hours.

src=”https://linea.myriadprotocol.com/embed/market/will-the-los-angeles-dodgers-win-the-2025-mlb-world-series-bde77ba1-e9fa-4ec2-a2f6-609a789e7eea”
width=”100%”
height=”415px”
style=”border: 0;”

Since then, the YZY Money X account has started to claim that the project will be releasing a crypto payments processor as well as a debit card. The project’s account also teased that YZY and USDC payments would be accepted in the Yeezy digital clothing store. Despite this, the token has continued to sag to a $75 million market cap.

Ye had been flirting with the possibility of releasing a token for half a year, which spawned two meme coin communities that were adamant he would soon endorse their project. On YZY’s launch, the communities had to come to terms with the likelihood that their dream wouldn’t come to fruition.

“Yo WTF is going on? Are we still alive?” one user wrote in the token’s Telegram group. “They emotionally harvested us for six months. Bye,” responded.

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Metaplanet Goes Big On Bitcoin Amid Fresh $11.6 Million Buy

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Japan-based Metaplanet has added more Bitcoin to its reserves this week, spending over $11 million to acquire 103 BTC. The company confirmed the move in a recent disclosure, stating the purchase was executed at an average price of $113,491 per coin.

Total Holdings Near 19,000 BTC

With this addition, Metaplanet’s Bitcoin stash now stands at 18,991 BTC, valued at nearly $2 billion based on current prices.

The company’s average acquisition cost across all holdings is about $102,712 per coin. According to Bitcoin Treasuries data, this makes Metaplanet the seventh-largest publicly listed BTC  holder, sitting just behind Riot Platforms Inc. and Bullish, the crypto firm backed by Peter Thiel.

The company’s timing has often aligned with key price swings. Reports show that during the first quarter of 2025, Metaplanet recorded a over 95% return on its Bitcoin strategy.

The second quarter proved even stronger at 129%, while July through late August delivered a 29% gain. Overall, the investment has grown by close to 480%, far outpacing most traditional equity plays.

Institutional Buys Keep Rolling

Metaplanet’s move comes as Michael Saylor hinted at another purchase for his firm Strategy. Saylor posted on X that “Bitcoin is on Sale,” fueling speculation of more buying activity.

That message followed Strategy’s recent acquisitions—430 BTC worth $51 million last week and 775 BTC just days earlier. The firm now controls 629,376 BTC, accounting for nearly 3% of BTC’s circulating supply.

Such large-scale buying underscores how corporations are doubling down on Bitcoin, even at prices above $110,000. For Metaplanet, the decision also serves as a hedge.

Japan’s weakening yen has raised concerns among investors, and crypto appears to offer a measure of protection against currency risk.

BTCUSD trading at $111,579 on the 24-hour chart: TradingView

Bitcoin Holds Steady

Bitcoin remained mostly flat, trading around $112,000 after briefly dipping to $110,000 over the weekend.

Analysts point out that this muted price response is common, as large purchases often occur over-the-counter, reducing short-term market impact.

ERIC TRUMP: BITCOIN TO SURPASS $175K IN 2025

At Jackson Hole, Eric Trump predicted BTC will cross $175,000 this year, declaring himself a “Bitcoin Maxi.”

— First Squawk (@FirstSquawk) August 24, 2025

In the meantime, sentiment in the wider crypto market remains bullish. US President Donald Trump’s son, Eric Trump, recently called himself a “Bitcoin Maxi” and forecasted that the asset could reach $175,000 within 2025.

Along with ongoing institutional buying, these types of predictions drive anticipation of higher prices in the coming months.

There have also been indications that Metaplanet could be on a weekly build-up approach, considering its latest buying activity. If the pattern continues, further crypto purchases could be in the offing.

Featured image from eGamers.io, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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