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Metaplanet equity backlash, SE Asia crypto funding doubles: Asia Express
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Metaplanet equity backlash, SE Asia crypto funding doubles: Asia Express
A new controversy around Japan's Metaplanet is colliding with fresh data showing Southeast Asian crypto funding doubled in 2026. Shareholders are protesting an executive stock pool they say dilutes their holdings, while private market figures confirm Singapore's rise as Asia's leading crypto hub.
Metaplanet, a Tokyo-listed Bitcoin treasury company, designed its 10th Series executive option pool as 20% of fully diluted shares. The pool automatically expanded as the firm issued new shares to fund BTC purchases, creating 273 million additional shares. Shareholders on social media demanded cancellation and more transparency over future equity decisions.
Reactions are divided. Bitcoin Magazine CEO David Bailey defended the plan, saying 20% over five years is not crazy by tech standards. Many shareholders disagree, calling the automatic expansion unpredictable and unfair. Meanwhile, Citi plans blockchain-based cross-border payments for Japanese firms, offering near-instant transfers outside standard banking hours.
In Southeast Asia, Tracxn data shows crypto funding reached $680 million across 25 rounds in 2026, up from $319 million in 2025. But rounds fell from 46, meaning more money is going to fewer companies. Singapore hosts 2,285 of the region's 3,957 blockchain firms and has attracted 82.5% of all-time blockchain equity funding.
The concentration cuts both ways. Larger checks help mature startups scale, but early-stage founders may struggle. Singapore's regulatory clarity remains a key draw. Gemini received a Major Payment Institution license from the Monetary Authority of Singapore, completing its transition from an in-principle approval granted nearly two years ago. MPI holders can offer regulated payment services without standard volume limits. The Winklevoss brothers called Singapore a strategic hub.
Enforcement is rising too. US authorities restrained over $52 million linked to scam marketplace Xinbi Guarantee. The Justice Department's Scam Center Strike Force seized two wallets with about $12 million and sought restraints on 47 more. OFAC designated Xinbi a transnational criminal organization and sanctioned Singapore-based SafeW Technology and Cambodia-based Anwen Technology for alleged support.
Looking ahead, compliance and consolidation will shape Asia's crypto sector. Circle is reported to have agreed to buy Tazapay for $400 million, strengthening stablecoin payment infrastructure. For Metaplanet, the backlash may force clearer governance on share issuance. For Southeast Asia, the funding boom will test whether capital spreads beyond Singapore.
With regulators licensing major players while cracking down on illicit networks, the region's next phase will depend on trust, transparency, and scale. How Metaplanet balances Bitcoin accumulation with shareholder rights, and whether Southeast Asian funding broadens, will be key tests in the coming year.
