Crypto
Metaplanet's Coinbase Conundrum: A Double-Edged Acquisition
Metaplanet's acquisition of US-listed Super League Enterprise has sparked tension among investors, as the company moves large chunks of its digital vault to Coinbase Prime.
The transfer of 2,100 BTC and $2.5 million in cash for a roughly 95.7 percent stake in Super League Enterprise is valued at around $134.6 million.
However, Metaplanet's move to Coinbase Prime twice within days has triggered whispers of an impending sell-off, despite CEO Simon Gerovich's denial that no Bitcoin had been sold and the company's total holdings remain unchanged at 43,000 coins.