Japanese listed company Remix Point announced the cancellation of its planned investment in Web 3.0 related businesses of 1.20 billion yen, and changed the use of funds to battery business and energy business investment.
The company previously planned to enter the validator business by partnering with blockchain validator operator Omakase, focusing on networks employing proof-of-stake (PoS) consensus algorithms. The company said that in the current business environment, it is difficult to ensure high-quality investment cases that meet the criteria of "high growth potential" and "expected return and risk" in the short term.
Notably, the company underwent a management shake-up at the end of September, when Takahashi Tashiro, the CEO who drove the Web3 business, resigned after just three months in the job, and Yuhiko Takahashi returned as CEO. In addition, the company has completed plans to buy Bitcoin for 4.70 billion yen, and in October decided to stop issuing new shares for the purpose of purchasing cryptoassets. (CoinDesk Japan)
Japan-listed company Remix Point cancels 1.20 billion yen Web3 investment plan
2025-12-01 13:35:24
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