Metaplanet will acquire Siiibo Securities and rename it Metaplanet Securities as it builds out Project Nova, its Bitcoin-centric finance strategy in Japan. Metaplanet announced on Friday that it has agreed to acquire Siiibo Securities in a 2.1 billion yen ($13.1 million) deal to form a securities arm. The Tokyo-listed Bitcoin (BTC) treasury company said it entered into a share transfer agreement to acquire 100% of the Japanese securities company, a licensed financial instruments business operator. After closing, expected in July, Siiibo Securities will become a wholly owned subsidiary and be renamed Metaplanet Securities. Metaplanet CEO Simon Gerovich said the acquisition is the first step in Project Nova, the company's strategy to build a Bitcoin-centric financial ecosystem in Japan. Read more
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Crypto markets are becoming a new venue for pre-IPO price discovery ahead of SpaceX's highly anticipated debut today. Binance's SpaceX tokenized IPO campaign attracted over $557 million in USDC deposits from about 27,689 wallet addresses ahead of the company's highly anticipated public listing. Wallets contributing up to $20,000 accounted for more than 81% of participating addresses but only 18.39% of total funds, while 114 addresses contributed over $500,000 each, representing about 10.2% of the funds, according to Dune data. The deposits point to strong demand for crypto-based pre-IPO exposure ahead of SpaceX's Nasdaq debut on Friday, with the company seeking to raise $75 billion at $135 a share and an around $1.8 trillion valuation. Read more