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Metaplanet Makes Largest BTC Purchase to Date Despite Bitcoin Price Correction

After a 9.8% drop in Bitcoin’s value over the past week, investors are showing signs of caution, worried about the potential for further declines. Despite this, Japan-based Metaplanet has reaffirmed its confidence by buying nearly 620 BTC. Interestingly, the latest acquisition marks its largest Bitcoin purchase to date. Metaplanet’s Largest Single BTC Acquisition According to the company’s official press release , the acquisition, executed as part of its Bitcoin Treasury Operations, involved the purchase of 619.7 BTC, worth around $60.6 million. This latest transaction brings Metaplanet’s total Bitcoin holdings to 1,761.98 BTC, which is valued at almost $168 million. Over the past six months, Metaplanet has leveraged multiple capital market activities, including stock rights issuances and zero-coupon bonds, to fund its Bitcoin purchases. Most recently, the company raised ¥5 billion, valued at $31.9 million, through its 5th Series of Ordinary Bonds on December 20, 2024. Prior to that, the Tokyo-based investment firm also announced a separate ¥4.5 billion, valued at $28.7 million, bond issuance that is set to mature on June 16, 2025. The firm reported a staggering BTC Yield increase of nearly 310% between October 1 and December 23, 2024, demonstrating the significant growth in Bitcoin holdings relative to its fully diluted shares outstanding. Metaplanet appears to have firmly positioned itself as a key player in a corporate Bitcoin investment even as the broader market sentiment remains bearish. Boost From Bitcoin Metaplanet, often referred to as “Asia’s MicroStrategy,” began accumulating BTC in May, mirroring the strategy of the US-based Bitcoin-focused firm. The company recently revealed that it expects its first operating profit in seven years, thanks to its decision in April to use Bitcoin as a treasury asset. For fiscal year 2024, it forecasts a revenue increase to ¥890 million, worth around $5.8 million, from ¥261 million, and predicts an operating profit of ¥270 million. This marked a significant turnaround after years of losses. A key driver has been its innovative use of Bitcoin put options, which brought in ¥520 million. The firm also benefited from a strong performance at its Royal Oak Hotel in Tokyo. The post Metaplanet Makes Largest BTC Purchase to Date Despite Bitcoin Price Correction appeared first on CryptoPotato . Bitcoin.com

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Bank Executive Allegedly Drains $4,277,227 From Customers’ Accounts in 11-Year Scheme: Report

Federal prosecutors say an employee at Oklahoma-based BOK Financial Securities drained millions of dollars directly from customers’ accounts. William Shane Garrow – who was senior vice president and a private banker at BOK until being fired early this year – is accused of embezzling $4,277,227 from at least 16 customer accounts and funneling the funds to himself, FOX23 reports . Garrow, who was hired in 2007, allegedly began committing the crimes on September 9, 2012, and continued all the way to April 10, 2024. He’s accused of draining cash from customer accounts without them knowing and transferring the funds to accounts that he controlled at other financial institutions. He’s also alleged to have written false cashier checks from client accounts and made them payable to himself. If a client noticed discrepancies, Garrow simply told them there was some sort of error, and that BOK would correct it. Says an affidavit seen by FOX23, “[Garrow] knowingly executed, and attempted to execute, a scheme…to defraud a financial institution, and to obtain any of the moneys, funds, credits, assets, and other property owned by…a financial institution.” Garrow is facing one count of bank fraud along with a separate count of willfully making and subscribing a false federal income tax return. In a statement to the media, BOK said it is cooperating with law enforcement. “Shane Garrow’s employment was terminated earlier this year upon the discovery that he had breached company policy. We have conducted a thorough internal investigation and worked with law enforcement on their investigation. Client impact was isolated and remediated upon discovery.” Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Bank Executive Allegedly Drains $4,277,227 From Customers’ Accounts in 11-Year Scheme: Report appeared first on The Daily Hodl . Bitcoin.com