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Today β€” 22 July 2026Main stream

Satsuma Shareholders Approve Bitcoin Liquidation, London Delisting

22 July 2026 at 08:40

Bitcoin Magazine

Satsuma Shareholders Approve Bitcoin Liquidation, London Delisting

Satsuma shareholders have voted to unwind the company’s bitcoin treasury and pull its shares off the London Stock Exchange.

At a general meeting on July 20, holders passed two special resolutions: one to return substantially all of Satsuma’s capital to shareholders, the other to cancel the company’s listing on the FCA’s Official List.Β 

The capital return resolution carried 90.63% support, with 7,869,182,042 votes in favor against 813,703,719 opposed. The delisting resolution passed with near-identical margins, 90.59% in favor.

The board will now close out Satsuma’s trading operations and sell the company’s remaining bitcoin, roughly 668 BTC.Β 

The stock had traded as Satsuma Technology PLC (LSE: SATS), one of the UK’s bitcoin treasury vehicles, second in size only to The Smarter Web Company.

A timetable set out in the June 24 shareholder circular governs the wind-down. The record time for entitlement to B Shares falls at 6 p.m. on August 3, the deadline for warrant holders to exercise their warrants if they want the resulting ordinary shares included in the capital return.Β 

Once the total number of qualifying shares is fixed, Satsuma will petition the UK High Court to confirm the return of capital. A directions hearing is set for August 13, with a confirmation hearing to follow on September 8.Β 

Under that schedule, the listing cancellation lands on September 14, and payments and CREST transfers go out by September 28.

Satsuma’s bitcoin struggles

The vote caps a run of trouble for a company that built its identity around holding bitcoin on a public balance sheet. Satsuma bought most of its coins at an average price above $113,000.Β 

With bitcoin trading below $68,000 in July, the treasury sat on steep unrealized losses, and Satsuma’s shares fell more than 99% from their June 2025 peak near Β£14 to around 21 pence, a valuation below the worth of its own bitcoin holdings.

The company had already begun trimming its position under liquidity pressure. In December 2025, the company sold 579 of its 1,199 bitcoin for roughly Β£40 million, proceeds it used to retire Β£78 million in convertible loan notes that matured on December 31. That sale left the company with 620 BTC and about Β£90 million in cash.Β 

By April, Pantera Capital, which held a 6% to 7% stake, was publicly pushing Satsuma’s board to sell its remaining bitcoin and hand the cash back to shareholders rather than persist as a listed treasury company.Β 

That pressure, combined with a shareholder requisition from holders representing more than 20% of Satsuma’s issued capital, forced Wednesday’s vote.

The board itself split on the outcome. Four of six directors recommended shareholders reject the wind-down, arguing it would dismantle a listed bitcoin vehicle and close off the company’s existing strategy. Two directors backed the proposal, citing shareholder demand and the execution risk of continuing as a going concern.

Satsuma’s exit adds to a wave of distress among smaller bitcoin treasury companies as coin prices sit well below the levels at which many of them accumulated their holdings, leaving boards to choose between raising fresh capital or returning what remains to shareholders.

This post Satsuma Shareholders Approve Bitcoin Liquidation, London Delisting first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Before yesterdayMain stream

Metaplanet’s Bitcoin Japan Announces Plan to Scoop Up Coins Despite Market DownturnΒ 

20 July 2026 at 16:05

Bitcoin Magazine

Metaplanet’s Bitcoin Japan Announces Plan to Scoop Up Coins Despite Market DownturnΒ 

Bitcoin Japan, a subsidiary of Asia’s answer to Strategy, Metaplanet, has announced it entered into a financing agreement to start buying the leading cryptocurrency for its treasury.Β 

The Tokyo-based, publicly-listed company said Thursday that it had approved a convertible bond deal with EVO Fund to raise 9.66 billion yen ($59.5 million). The deal will see the company spend over 662 million yen β€” or over $4 million β€” on its first Bitcoin transaction.Β 

Bitcoin Japan works on Bitcoin-related media, data platforms and events to promote the understanding of the leading cryptocurrency in Japan and β€œcontribute to the development of its ecosystem globally,” according to its website.Β 

Its parent company, Metaplanet, is a publicly-traded company following in the footsteps of Nasdaq-listed Strategy β€” formerly MicroStrategy β€” by buying and holding Bitcoin on its balance sheet. It first started buying the asset in 2024.Β 

Metaplanet is one of the biggest Bitcoin treasuries in the world, with 43,000 digital coins worth over $2.8 billion in its coffers. Its stock is currently down over 50% year-to-date.Β 

JUST IN: πŸ‡―πŸ‡΅ Japan Public company Bitcoin Japan Corporation has raised $60 million through convertible bonds, allocating $4.08 million to make its first buy for their BTC treasury πŸ‘€

BULLISH πŸš€ pic.twitter.com/gn7hihxJ68

β€” Bitcoin Magazine (@BitcoinMagazine) July 17, 2026

Treasury woesΒ 

Bitcoin Japan’s announcement comes as treasury companies see their stock slide. Last year, the business model of buying and holding Bitcoin and other digital assets with spare cash suffered with a plunge in crypto prices.Β 

Strategy, the biggest and oldest Bitcoin treasury, has seen its Nasdaq-listed stock nosedive by nearly 80% over the past year.Β 

Little known publicly traded companies in 2025 rushed to announce they were buying digital assets in a hope to boost their stock prices. The strategy worked but since the market downturn, a number of firms in the space have had to sell a portion of their holdings as the price of Bitcoin has slumped.Β 

But companies are still accumulating during the downturn β€” and firms like Bitcoin Japan are seeing the current market price of the leading asset as an opportunity to start a crypto treasury.Β 

Regulatory pushΒ 

While Japan has long been a hub for crypto enthusiasts β€” former major Bitcoin exchange Mt. Gox was based in Tokyo before a 2014 hack and its subsequent closure β€” lawmakers are now working on regulating the asset class.Β 

Japan’s parliament last week passed a law ​amendment to designate β€Œcryptocurrency assets as β€œfinancial assets,” making the assets subject to ​stricter regulations, eventually paving the way for products like Bitcoin exchange-traded funds to debut in the Asian nation.Β 

The regulation is likely to come into effect within a year, Reuters reported, citing NHK news.Β 

This post Metaplanet’s Bitcoin Japan Announces Plan to Scoop Up Coins Despite Market DownturnΒ  first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Residential Proxy Risks: Understanding Google’s Latest Action Against 2 Million Strong NetNut

3 July 2026 at 08:00

Google announced that it helped take down NetNut, a 2 million strong malicious residential proxy network. The incident highlights the growing risks posed by residential proxy networks that quietly conscript consumer devices into services used by cybercriminals and nation-state actors alike.

The post Residential Proxy Risks: Understanding Google’s Latest Action Against 2 Million Strong NetNut appeared first on The Security Ledger with Paul F. Roberts.

DoD issues guidance as ban on Chinese companies takes effect

β€œPeople need to get ahead of it. If you start to ask for a waiver starting in 2027, it's going to be a painful process for everyone,” Michael Cadenazzi said.

Β© Getty Images/Westy72

River entrance of the Department of Defense building.
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