DV8 today appointed Jason Fang, founding partner of Sora Ventures, as chief executive officer, outlining a shift to a corporate Bitcoin treasury and broader digital asset strategy, the company said.

The move follows a months-long reshaping of DV8’s ownership and balance sheet.

A cross-border group that includes Sora Ventures, UTXO Management, Kliff Capital, AsiaStrategy, Moon Inc., and Mythos Group initiated an acquisition of the Thai-listed firm through a voluntary tender offer in July, positioning DV8 to execute a Bitcoin-centric playbook for public companies in Southeast Asia.

Days later, DV8 named Thai investor Chatchaval Jiaravanon as chairman and expanded its board with a mix of local executives and crypto operators.

DV8 also raised fresh capital through a warrant program completed in mid-July. According to company filings, shareholders exercised 99.9% of available DV8-W2 warrants at 0.80 baht, adding about THB 241 million, roughly 7.4 million dollars, and lifting cash by 38%. The capital raise gives the company room to begin treasury activity and related infrastructure work under the new mandate.

Fang arrives with a record of structuring listed-company Bitcoin programs around Asia. In December 2024 Sora Ventures announced a $150 million fund aimed at helping public companies implement balance-sheet Bitcoin strategies tailored to local market rules.

In February, Fang detailed a “MicroStrategy 2.0” framework in Hong Kong that pairs direct holdings with yield-oriented structured products while removing private key management from end investors.

The Sora ecosystem has since moved onto public markets through Top Win International’s merger and rebrand path to AsiaStrategy on Nasdaq, including a ticker change to SORA and a subsequent push into strategic investments related to corporate Bitcoin adoption.

In August, AsiaStrategy disclosed a $10 million convertible note led by WiseLink and began accepting Bitcoin for luxury watch sales, adding an operational settlement layer that complements the treasury thesis.

Thailand’s policy backdrop has improved for corporates exploring digital assets. The government approved a five-year personal income tax exemption on crypto gains for investors, a move that reduces friction for capital formation and potential secondary-market participation around Bitcoin-treasury equities.

The securities regulator has also authorized the use of USDT and USDC in digital asset transactions, allowing stablecoin pairs on local venues and widening the toolkit for market liquidity. Separate coverage this cycle has pointed to a first local spot Bitcoin ETF approval, indicating a gradual expansion of regulated Bitcoin exposure within the jurisdiction.

For DV8, the immediate roadmap centers on treasury governance, disclosure cadence, and the sequencing of any initial Bitcoin purchases, while the board transition and new cash provide the operating basis.

Prior actions around Sora’s network, including structured yield overlays and cross-listings that connect Hong Kong and U.S. markets, offer a template for how treasury accumulation can interact with corporate finance tools and product initiatives.

DV8’s tender, board changes, and warrant funding provide the backdrop for Fang’s appointment, which now concentrates decision-making for a Thai issuer pursuing a Bitcoin-first model linked to a wider regional network of public companies and investors.

Disclosure: Sora Ventures is an investor in CryptoSlate.

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Japanese investment firm Metaplanet today announced plans to raise another 130 billion yen ($880 million) through an international share sale. Of that amount, the firm intends to allocate roughly $835 million toward purchasing additional Bitcoin (BTC).

Metaplanet Eyes More Bitcoin Purchases

According to a regulatory filing, Tokyo-based Metaplanet has approved a plan to raise as much as $880 million, with nearly $837 million set aside for fresh BTC acquisitions.

To generate the funds, the company will issue 555 million new shares. This issuance could increase the number of Metaplanet’s outstanding shares from 722 million to approximately 1.27 billion.

Often referred to as “Japan’s MicroStrategy,” Metaplanet has emerged as one of Asia’s most prominent corporate Bitcoin holders. Data from CoinGecko shows the firm currently ranks as the world’s 8th largest public company by BTC reserves, holding 18,991 BTC on its balance sheet.

The firm noted that proceeds from the offering will be used between September and October 2025 to accumulate Bitcoin. In addition, around $43.9 million will be reserved for other Bitcoin-related financial operations.

It is important to highlight that the share sale will take place exclusively on international markets. In the US, sales will be restricted to qualified institutional buyers under Rule 144A of the US Securities Act.

Metaplanet’s latest BTC purchase came earlier this week when the firm announced it had bought 103 BTC worth more than $11 million. At present, Metaplanet’s total BTC holdings are valued around $2 billion. The firm plans to hold 210,000 BTC by the end of 2027.

The firm’s strategy reflects a broader trend of corporations integrating Bitcoin into their treasuries. Healthcare company KindlyMD, recently announced a $5 billion stock sale to expand its BTC reserves.

Commenting on the development, David Bailey, CEO, KindlyMD, said that the move to raise $5 billion is a natural next step following the firm’s initial purchase of 5,744 BTC earlier this month. On the CoinGecko list, KindlyMD currently ranks 16th in terms of total BTC held.

Is BTC On The Verge Of Supply Crunch?

BTC’s fixed supply of 21 million coins remains one of its most defining features. However, a significant portion of these coins has been lost in unrecoverable wallets, further reducing the effective circulating supply.

As a result, a quiet race has begun among corporations, institutional investors, and even nation-states to accumulate as much Bitcoin as possible before prices climb further. Recently, a congressman in the Philippines introduced a bill proposing the creation of a strategic Bitcoin reserve for the nation.

Meanwhile, Dutch crypto services company Amdax announced plans last week to launch a public Bitcoin treasury firm, while Nasdaq-listed Top Win International disclosed a $10 million raise for BTC purchases.

In similar news, Turkish mobility app Marti Technologies stated last month that it will hold 20% of its cash reserves in Bitcoin. At press time, BTC trades at $112,013, up 1.9% in the past 24 hours.

Featured image from Unsplash.com, chart from and TradingView.com

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