Fintech Firms Rush to Raise Equity in Hong Kong to Tap Crypto Frenzy
At least ten Hong Kong-listed fintech companies raised over $1.5 billion in July via share placements to fund expansions in stablecoins, digital assets and blockchain payments. The surge in equity offerings coincides with the stablecoin issuer licensing regime taking effect on August 1, and regulators warning against market frothiness amid hype.
Metaplanet adds 780 BTC, corporate stash grows to 17,132 coins
Tokyo-listed Metaplanet revealed it bought 780 bitcoin at an average ¥17.5 million per coin, lifting the firm’s holdings to 17,132 BTC worth about $2 billion. The company’s shares gained 5 % after the disclosure as investors welcomed the expansion of its Bitcoin-treasury strategy.
SharpLink purchases 77,210 ETH for $295 million, boosting treasury to 438,000 ETH
Sports-tech firm SharpLink Gaming bought 77,210 ETH for about $295 million—more than the network’s net issuance over the past month—lifting its corporate ether stash above 438,000 ETH and $1.6 billion in value while it pursues a $6 billion stock-sale plan to fund further accumulation.