Metaplanet Equity Criticized Over Dilutive Share Option Pool

Metaplanet Equity Faces Criticism Over Share Option Pool

The Japanese Bitcoin treasury company Metaplanet is facing renewed shareholder criticism over its executive share option pool. The pool, which automatically grows as new shares are issued to fund the company's Bitcoin accumulation strategy, has raised concerns among investors about dilution.

Shareholders are urging the company to rescind the additional 273 million shares created under the plan, citing a lack of transparency and predictability in the share mechanics. David Bailey, CEO of Bitcoin Magazine, defended the approach, saying that allocating 20% of the cap table over a five-year period is not 'crazy.'

Meanwhile, Southeast Asia's crypto sector has seen a mix of regulatory movement, enforcement actions, and corporate dealmaking. Singapore has granted Gemini a payment license, removing the earlier 'in-principle' approval step.