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Hassan Shittu

Journalist

Hassan Shittu

About Author

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in…

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Last updated: 

September 5, 2025

Sora Ventures has announced the launch of its dedicated Bitcoin treasury fund, unveiled Friday at Taipei Blockchain Week.

The venture capital firm said the fund is backed by an initial $200 million commitment from partners and investors across the region, with a target of acquiring $1 billion worth of Bitcoin within the next six months.

Asia’s $1B Bitcoin Treasury Fund Aims to Rival U.S. Corporate Adoption

According to the announcement, the fund is designed as a centralized pool of institutional capital, marking a shift from Asia’s earlier Bitcoin treasury efforts, where individual companies accumulated Bitcoin directly on their balance sheets.

Firms such as Japan’s Metaplanet, Hong Kong’s Moon Inc., Thailand’s DV8, and South Korea’s BitPlanet have already taken that route.

Sora’s initiative seeks to support these pioneers while creating synergies between regional and global treasuries, strengthening Bitcoin’s role as a reserve asset.

Luke Liu, a partner at Sora Ventures, described the launch as a milestone. “This is the first time that Asia has seen a commitment of this magnitude toward building a network of Bitcoin treasury firms, with capital commitment towards Asia’s first $1 billion treasury fund,” he said.

Historically, large-scale Bitcoin treasuries have been concentrated in the United States, where corporate adoption was led by firms such as Strategy.

The new fund signals Asia’s bid to position itself as a serious contender in institutional Bitcoin investment. Jason Fang, founder and managing partner of Sora Ventures, said the initiative addresses what he sees as fragmented efforts across the region.

“This is the first time in history that institutional money has come together, from local to regional, and now to a global stage,” Fang said during a panel titled Introducing BTC Strategy into Major Asia Equity Markets.

Sora Ventures has been steadily building its Bitcoin-focused strategy over recent years. In 2024, it invested in Metaplanet, supporting Japan’s first listed Bitcoin treasury with a ¥1 billion ($6.56 million) allocation.

The following year, it acquired Moon Inc. in Hong Kong and DV8 in Thailand and partnered in the acquisition of BitPlanet in South Korea. Each move was intended to replicate and expand Bitcoin-first treasury models across Asia.

The $1 billion fund now formalizes these efforts, offering a framework to attract additional institutional partners and coordinate treasury strategies across markets.

According to Sora, the fund will not only accelerate corporate Bitcoin adoption in Asia but also provide a model that could be extended internationally.

Asian Family Offices and Japanese Firms Ramp Up Crypto Exposure

Wealthy Asian families and their investment vehicles are stepping up crypto allocations, with both private funds and public companies deepening exposure despite recent market volatility.

Singapore’s NextGen Digital Venture recently raised over $100 million for its Next Generation Fund II, a crypto equity vehicle. Founder Jason Huang said family offices and fintech entrepreneurs increasingly see digital assets as a necessary part of diversified portfolios.

Banks are tracking the trend. UBS reported that some Chinese family offices intend to allocate up to 5% of their holdings to crypto, while younger generations are increasingly driving adoption.

Japan is emerging as a corporate hotspot. In August, Tokyo-listed Lib Work unveiled a $3.3 million Bitcoin treasury strategy, citing inflation hedging and overseas growth plans.

Around the same time, Bakkt Holdings acquired 30% of textile maker MarushoHotta for $115 million, moving to rebrand it as “Bitcoin.jp” and shift the 120-year-old firm toward crypto treasury management.

Metaplanet Inc. leads Japan’s corporate push. The company disclosed a new purchase of 1,009 BTC this week, lifting its total to 20,000 BTC worth over $2.1 billion.

Shareholders also approved an overseas share sale of up to $884 million, with most proceeds earmarked for further Bitcoin buys. Metaplanet, once a struggling hotel operator, is now among the top global corporate holders of the cryptocurrency.

Other Tokyo-listed firms joined in August. Remixpoint added 41.5 BTC, bringing reserves to 1,273 BTC. Fashion retailer ANAP acquired 11.68 BTC through its investment arm, while Agile Media Network continued incremental purchases. Def Consulting also announced plans for a treasury program.

At the Bitcoin Asia 2025 conference, Eric Trump added fuel to bullish sentiment, where Eric Trump predicted the cryptocurrency could reach $1 million per coin and described China as “a hell of a power” in the digital asset economy.

Data from BitcoinTreasuries shows Asia’s biggest corporate holders now include Cango Inc. and Bitfufu, holding more than $570 million and $200 million in Bitcoin, respectively.

Bitcoin analyst and investor Mark Moss argues that Bitcoin treasury companies are positioning themselves for history’s biggest wealth transfer, following a sophisticated playbook for capturing value and managing volatility. In other words: “using gas pipes to fund your electric future.”

Bitcoin treasury companies: history’s most obvious abritrage

He compares Bitcoin treasury companies (firms holding large bitcoin balances and building financial products around them) to smart factory owners of the 1910s, who installed electric wires despite having working gas pipes.

While most people thought they were wasting money and called their approach foolish, these owners were able to leverage existing infrastructure to pay for future needs.

When old technology and new technology exist simultaneously over a 10-20 year window, Moss argues that those running both systems, like Bitcoin treasury companies, emerge victorious:

“These factories didn’t wait for gas to disappear. They used profits from gas-powered production to install electric infrastructure. They looked inefficient. Redundant. Stupid. They were actually positioning for the most obvious transition in history.”

That’s exactly what corporations like Strategy are doing: extracting value from the existing system of debt and equity and transferring it into the new system: Bitcoin.

“Bitcoin treasury companies are doing the EXACT same thing… running history’s most obvious arbitrage.”

Moss highlights the strategic flexibility of Bitcoin treasury companies to issue equity, raise capital, and leverage structural advantages unique to this asset class, positioning them for gains far beyond traditional tech or financial stocks.

He points out that savvy operators in this sector blend balance sheet strength with deep risk management, making them well-equipped to weather volatility and even exploit it for outsized performance.

Market sentiment remains cautious

Despite Moss’s bullish stance, market sentiment remains wary. Bitcoin treasury companies like Strategy are trading at just a 1.6x multiple on their Bitcoin holdings, a stark contrast to the S&P 500’s average price-to-earnings ratio, which sits at 30x. The gap is so pronounced that it defies conventional logic, as The Bitcoin Therapist pointed out:

“Not a f**king chance. Market is wrong.”

Recent price action only exacerbates these tensions. As of August 2025, Bitcoin hit a record high above $124,000, yet many Bitcoin treasury stocks failed to keep pace, with some trading flat or down amid $1 billion in leveraged liquidations and more than $290 million in ETF outflows.

The market’s apparent mispricing, punishing innovation with discount multiples, stands in sharp contradiction with the risk appetite normally seen for tech and growth stocks. Is the spread temporary, or is the market missing the forest for the trees? Relying on gas pipes to fuel an electric future?

Crypto Journalist

Amin Ayan

Crypto Journalist

Amin Ayan

About Author

Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has…

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Last updated: 

August 2, 2025

The DeFi Education Fund (DEF), a policy advocacy group backed by an early Uniswap grant, has called on the US Senate Banking Committee to take a more measured approach to DeFi regulation.

In a formal response to the draft Responsible Financial Innovation Act of 2025 (RFIA), DEF and a coalition of top crypto firms outlined a framework they believe can safeguard innovation without undermining national security or consumer protections.

The response was co-signed by a16z Crypto, Jito Labs, Jump Crypto, Paradigm, Multicoin Capital, Solana Policy Institute, Uniswap Foundation, Uniswap Labs, and Variant Fund.

DEF Calls for Clear DeFi Rules, Developer Protections in Senate Response

The DEF’s response pushes for four key pillars, including distinguishing between DeFi developers and intermediaries, defining which entities are required to register with federal authorities, setting decentralization criteria, and ensuring technology-neutral rulemaking.

These suggestions come amid the Senate’s call for public feedback on the RFIA, which builds on the earlier CLARITY Act.

Lawmakers say they aim to strike a balance between market growth and financial oversight, but DEF argues that a nuanced understanding of decentralized systems is essential.

One of the more urgent issues raised in the letter involves the ongoing federal case against Tornado Cash developer Roman Storm.

DEF criticizes current FinCEN guidance used in the prosecution, warning that treating non-custodial software code as a financial service sets a dangerous precedent.

“Software that does not take custody or control should not be regulated as an intermediary,” DEF states, urging legislative clarification.

The coalition also emphasized the need for federal preemption to override conflicting state laws.

According to DEF, without preemption, well-funded traditional financial players could exploit state-level loopholes to target DeFi developers and suppress emerging competition.

Andreessen Horowitz Flags Gaps in Draft Crypto Bill

On Thursday, Andreessen Horowitz (a16z) also urged US lawmakers to revisit and revise the draft crypto regulation bill, warning that the current proposal could open legal loopholes and weaken investor protections.

While the draft seeks to clarify the regulatory landscape for digital assets, a16z argues that the framework as written poses legal and structural risks, especially around the treatment of “ancillary assets.”

Ancillary assets refer to digital tokens sold alongside investment contracts, typically without providing buyers with equity, dividends, or governance rights.

a16z said using this category as the foundation for new legislation “without significant modifications” is problematic.

The firm believes this structure contradicts the Howey test, which is the longstanding legal standard for determining whether an asset qualifies as a security under U.S. law.

“Rewriting Howey,” the letter stated, “would depart from settled law and endanger investor protections.”

Instead, a16z supports the CLARITY Act’s narrower definition of “digital commodities” and recommends codifying a control-based decentralization model.

This would assess whether any party retains unilateral control, operational, financial, or governance, over a blockchain system.

According to the firm, decentralization should mark the point at which an asset transitions from a security to a commodity.

Several hedge funds are profiting big after their bet that gas giant Chevron would successfully acquire competitor Hess Corporation in a $53 billion deal.

Firms that specialize in merger arbitrage are looking at billions of dollars in windfall after a 20-month court arbitration finally concluded on Friday, Bloomberg reports.

Merger arbitrage is a trading strategy that involves betting on the outcome of a merger or acquisition, typically by taking long and/or short positions in the stocks of the companies involved.

According to a Morgan Stanley calculation, shares of Hess were the most widely held position for merger arbitrages in the US, collectively amounting to $10 billion worth of positions.

Notably among those betting on the acquisition were Ken Griffin’s Citadel Advisors, Adage Capital and HBK Investments.

Roy Behren, co-chief investment officer at Westchester Capital, says the firm held roughly $350 million in Hess shares in anticipation of the acquisition

“I’ve been waiting forever for this to happen. It took a year and a half, but I think the right outcome was achieved… The Hess stake was the largest position we have had in the past 15 years. The arbitration panel ruled the way our consultants and analysts expected.”

Citadel and HBK each had the equivalent of $1 billion in shares, according to the firms’ latest filings, says Bloomberg.

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