Fidelity’s MetaPlanet Stake, Chang’s Legal Victory, and More | APAC Morning Brief

Welcome to the Asia Pacific Morning Brief—your essential digest of overnight crypto developments shaping regional markets and global sentiment.

Grab a green tea and watch this space. Institutional crypto adoption accelerates as Fidelity backs MetaPlanet’s Bitcoin strategy, Henry Chang wins WEMIX legal vindication, and SharpLink amasses the world’s largest corporate Ethereum treasury position.

National Financial Services, Fidelity Investments’ wholly-owned subsidiary, has emerged as MetaPlanet Corporation’s largest shareholder with a 12.9% stake worth ¥130 billion as of June 30th. This strategic positioning by Fidelity’s securities division signals expanding institutional appetite for Bitcoin-adjacent equity exposure.

Known as “Asia’s MicroStrategy,” MetaPlanet has raised over ¥150 billion this year to expand Bitcoin holdings, recently adding 797 BTC to reach 16,352 total bitcoins. The company now ranks fifth globally among publicly-traded Bitcoin holders, with acquisitions totaling ¥239.6 billion generating approximately ¥47 billion in unrealized gains at current ¥291.2 billion valuations.

This institutional backing reflects evolving digital asset perception among traditional financial giants.

Former Wemade CEO Henry Chang Acquitted in WEMIX Case

Seoul Southern District Court delivered a not-guilty verdict for Henry Chang, former Wemade CEO and current Nexus head, regarding capital market law violations related to WEMIX token liquidation statements. The court ruled that insufficient evidence linked WEMIX price movements to Wemade stock performance.

Judge Kim Sang-yeon emphasized that “WEMIX pricing and Wemade stock don’t necessarily move together,” rejecting prosecution claims that Chang’s public statements about halting WEMIX liquidation while continuing indirect operations constituted market manipulation.

The ruling highlighted fundamental differences between WEMIX tokens and Wemade shares, noting distinct legal frameworks, issuance entities, and trading mechanisms. External factors like global gaming performance and liquidity expansion better explained Wemade’s stock appreciation.

WEMIX trades around 7% higher at press time on global exchanges including Bybit, Bitget, MEXC, and Gate.io, despite Korean platform exclusion. This first-instance verdict awaits potential prosecution appeal following judgment analysis.

SharpLink Gaming Becomes World’s Largest ETH Corporate Holder

Nasdaq-listed SharpLink Gaming (SBET) has emerged as the world’s largest corporate Ethereum holder, surpassing the Ethereum Foundation with 280,706 ETH as of July 13th. The company acquired 74,656 ETH at a weighted average price of $2,852 during July 7-13, funded through $413 million in equity raises.

SharpLink has strategically allocated 99.7% of its holdings to staking protocols, generating 415 ETH in rewards since implementing its treasury strategy in June. Additional unreported purchases through Coinbase Prime expanded holdings to approximately 294,000 ETH, with an average acquisition cost of $2,695.

The aggressive accumulation strategy has generated approximately $92 million in unrealized gains at current market prices, while $257 million in uninvested capital positions the company for continued expansion. SharpLink’s stock surged 116% over the past month, gaining an additional 21.31% on Tuesday.

Shigeki Mori and Paul Kim contributed.