As reported by HashNews, Japanese listed company Remixpoint has announced the cancellation of its 1.2 billion yen investment originally planned for Web3-related business. The company cited the difficulty of identifying high-growth potential and risk-balanced investment opportunities in the current environment. The funds will now be redirected to battery and energy business. Additionally, the company has already allocated 4.76 billion yen (approximately 30.74 million USD) of the total 5.976 billion yen (approximately 38.6 million USD) raised to purchase Bitcoin, which was fully invested in June. To prevent share value dilution and protect existing shareholders' interests, the company has decided to halt new equity financing aimed at purchasing crypto assets.
Japanese Company Remixpoint Cancels 1.2 Billion Yen Web3 Investment
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