BitGo Secures BaFin Approval to Launch Regulated Crypto Trading in Europe

Metaplanet, the Japanese hospitality and real estate group turned Bitcoin treasury company, is ramping up its crypto strategy with the launch of two new subsidiaries, one in the US and one in Japan.

In a Wednesday post on X, the Tokyo-based firm announced the establishment of Metaplanet Income Corp., a wholly owned US subsidiary based in Miami with an initial capital of $15 million, according to its disclosure.

The unit will focus on Bitcoin (BTC) income generation and derivatives trading, creating a structural separation between Metaplanet’s core BTC holdings and revenue-generating operations.

The subsidiary will be managed in part by Metaplanet CEO Simon Gerovich, alongside Dylan LeClair and Darren Winia. The company also said that the move is expected to have minimal impact on its consolidated financial results for the fiscal year ending Dec. 31.

The United Kingdom’s top financial regulator has outlined new proposals for how existing financial rules should apply to cryptocurrency firms, marking the next step in creating a regulatory framework for the sector.

The Financial Conduct Authority (FCA) published a consultation paper Wednesday setting out minimum standards that crypto firms will need to meet once the industry is formally brought under its remit. The regulator said the rules are designed to balance innovation and competitiveness with protections for consumers and market integrity.

“We want to develop a sustainable and competitive crypto sector – balancing innovation, market integrity and trust,” said David Geale, executive director of payments and digital finance. 

Geale said that while the proposals will not remove crypto investing risks, they will help firms meet common standards so consumers have a better understanding of what to expect. 

FCA seeks consultation to deliver tailored crypto rules

The FCA said that many of the requirements are similar to obligations that apply to traditional financial institutions. This includes rules on operational resilience and controls against financial crime. However, the regulator also opened discussions on issues unique to crypto markets. 

The FCA is seeking comments on whether the UK’s Consumer Duty, which mandates financial firms to deliver good outcomes for consumers, should also apply to crypto companies and crypto asset activities. 

The regulator also seeks views on how crypto-related complaints should be managed, including whether consumers should be able to refer them to the Financial Ombudsman Service, the UK’s official body for settling disputes between financial firms and consumers. 

The proposals come after His Majesty’s Treasury — the UK’s finance and economic ministry — published its draft legislation in April. 

The draft rules for crypto outlined plans to bring exchanges, dealers and agents in line with existing regulations.

The government said the plan signals the UK is “open for business” but closed to fraud and abuse.

UK to strengthen ties with US on crypto matters

The consultation follows moves from the UK and the United States, preparing to deepen cooperation on digital assets. 

On Wednesday, the Financial Times reported that the UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent discussed how the two nations could strengthen coordination on crypto. 

Citing anonymous sources, the outlet reported that the discussion involved companies like Coinbase, Circle and Ripple, with executives from traditional financial firms like Bank of America, Barclays and Citi. 

Cointelegraph reached out to the FCA for more information, but did not receive a response by publication. 

TL;DR

Large Holders Reduce Positions

In the last four days, wallets holding between 100 million and 1 billion Dogecoin have sold a combined 680 million DOGE. This shift was shared by analyst Ali Martinez, using Santiment data that tracked the movement of large holders. Wallets in this category saw their total balance fall from around 27.4 billion to 26.65 billion DOGE during this period.

Whales sold 680 million Dogecoin $DOGE in the past 96 hours! pic.twitter.com/G0XnjO675k

— Ali (@ali_charts) September 16, 2025

Notably, this drop in holdings happened while DOGE’s price peaked around $0.3, followed by apullbackto $0.27. The timing points to large holders possibly locking in profits. While the exact motive remains unknown, large transactions like these often draw attention due to their size and potential to affect price direction.Current Price Levels and RSI Position

As of press time, Dogecoin was trading close to $0.27. The 24-hour volume sits just above $3.84 billion. The token has seen a minor decline in the past day but is still up by over 10% across the past week.

Technical analyst Trader Tardigrade noted that DOGE’s RSI is now sitting at a key support level, similar to a zone that held in early September. At that time, the token began moving upward shortly after testing this area.

“If RSI support holds, downside momentum could be easing,” he said.

Another chart from CryptooELITES compares today’s market structure with earlier cycles in Dogecoin’s price. It shows two earlier setups where DOGE formed a rounded base before makingstrong upwardmoves. The current structure looks similar and sits at the same stage as those past rallies began. The chart includes a projected path toward $5.Institutional Accumulation and Sentiment

MarketProphit data shows that both retail and internal sentiment metrics for Dogecoin are now reading bullish. This is happening alongside new buying activity from CleanCore Solutions, which added another 100 million DOGE to its reserves.

Meanwhile, the firm now holds over 600 million DOGE and is aiming for 1 billion in the short term. It has stated plans to reach a larger target of 5% of the token’s total supply. This level of accumulation by a single treasury has become a key point of interest among market watchers.

Metaplanet is taking bold steps to expand globally. 

It announced new initiatives in the U.S. and Japan to strengthen its position in the Bitcoin market. The company is focused on growing its business, building new platforms, and engaging with a broader network of investors and stakeholders to support long-term growth.

Expansion Plans in the U.S.

Metaplanet announced its board has approved the creation of a new U.S. subsidiary, Metaplanet Income Corp., to expand its Bitcoin Income Generation operations.

The company noted that this business line has been steadily expanding since late 2024, producing consistent revenue and net income. With a separate U.S. entity, Metaplanet now plans to accelerate that growth.

Simon Gerovich took to X to share the news, saying

“Metaplanet has established Metaplanet Income Corp. in the U.S. to further expand our Bitcoin Income Generation Business. This business has become our engine of growth, generating consistent revenue and net income. We are cash flow positive, producing significant internal cash flow to support future initiatives.”

The new subsidiary will serve as a dedicated platform to manage and expand income-generating activities, including derivatives operations. The structure also separates these activities from the company’s core Treasury Operations, enhancing governance, transparency, and risk management. 

Building a Stronger Presence in Japan

Metaplanet is also expanding its Bitcoin footprint in Japan. The company has set up a new subsidiary, Bitcoin Japan Inc, which will oversee media, events, and services related to Bitcoin.

As part of this push, it has acquired the premium domain ‘Bitcoin.jp’, giving it a strong online hub for its Japanese activities.

Through Bitcoin.jp, Metaplanet plans to:

• Run Bitcoin Magazine Japan
• Host the Bitcoin Japan Conference in 2027
• Launch new Bitcoin products and services
• Develop advertising, affiliate programs, and other commercial ventures

This platform is aimed at boosting brand recognition and creating a clear gateway for investors, shareholders, and the public to access Japan’s Bitcoin ecosystem.

Public Offering Success, Stock Dips

Simon Gerovich also shared that Metaplanet successfully closed its public offering, attracting a world-class global investor base including major mutual funds, sovereign wealth funds, and hedge funds.

It also released a set of frequently asked questions (FAQs) covering its overseas public offering and its 20th to 22nd Stock Acquisition Rights.

However, despite these achievements, Metaplanet’s stock is down more than 1% today and has fallen over 30% in the past month. The firm currently holds over 20,136 BTC worth around $2.25 billion. It is the sixth-largest publicly traded corporate Bitcoin holder globally.

These moves put Metaplanet in a strong position to grow globally and make an even bigger impact. 

By Callum Keown

Bitcoin jumped but other cryptocurrencies were under pressure Wednesday as investors awaited the Federal Reserve's latest interest-rate decision.

The price of Bitcoin was trading at $116,747 early in the day, up 1.1% over the past 24 hours, according to CoinDesk data. The world's largest cryptocurrency has risen 7.5% in September, edging closer toward the record high above $124,000 that it hit in the middle of August.

Bitcoin's latest jump comes as "cryptocurrencies attempt to break free from the deep corrective phase that has dominated recent weeks," XS.com analyst Samer Hasn said Wednesday. "The move comes with improved flows into crypto-related products and no major long liquidation events, which leaves room for further upside in the near term." He noted that Wednesday's Fed decision was the main driver of risk appetite.

The market is confident that a quarter-point cut is coming — giving it a 96% probability, according to CME's FedWatch tool. Traders see a 71% chance of a total of three 25 basis-point cuts by the end of the year.

Any indication that Fed officials share that view, or even project more cuts, could give cryptocurrencies further support. Lower interest rates tend to support cryptos, as lower borrowing costs make risky assets more attractive relative to lower-yielding investments, such as bonds.

Other digital assets were more mixed. Ethereum, the second-biggest crypto, was down 0.2% at $4,504, though it has jumped 78% since the beginning of July. Popular altcoin XRP fell 0.4% to $3.02.

Write to Callum Keown at callum.keown@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

Google searches for “help with mortgage” have now surged past the peak of the 2008 Global Financial Crisis, signaling mounting stress in the US housing market.

Analysts warn that affordability pressures are deepening, with late rent payments climbing and mortgage costs rising at a pace far outstripping income growth.

Mortgage Rates Signal Shifting Economic Pressures for Crypto Markets

According to housing analyst Nick Gerli, incomes have grown just 21.9% since 2019. Meanwhile, mortgage costs have risen 91.9% in the same period.

Other commentators, including Darth Powell and Neil, pointed to skyrocketing late rental payments. There is also a growing struggle for homeowners to keep pace with monthly bills.

Meanwhile, Polymarket and Barchart data show that searches for mortgage help have surpassed 2008 levels. This reflects how financial stress is spreading beyond renters to homeowners.

With affordability collapsing, home-buying activity remains muted even as credit conditions tighten.

FHFA’s Crypto Experiment Pushes Adoption, But With Strings Attached

Against this backdrop, the Federal Housing Finance Agency (FHFA) attempted to ease access to credit in June by allowing Bitcoin and certain cryptocurrencies to count as assets for mortgage eligibility.

The move applies to applicants through Fannie Mae and Freddie Mac. It marked the first time the federal mortgage system formally recognized crypto in asset assessments.

However, the program had limitations. Only crypto held on US-regulated custodial exchanges qualifies, while Bitcoin in cold storage, multisig setups, or self-custody wallets does not.

Applicants can also not pledge these assets as collateral, as crypto holdings count toward net worth in the assessment process.

Critics argue that the approach undermines Bitcoin’s core principle of self-sovereignty.

Bitcoin financial services firm Swan echoed the concern. While Swan acknowledged the move as a win, it recognized the limitations.

Bitcoin does not exist in the eyes of mortgage underwriters unless it is visible on state-regulated custodial platforms.

For Swan, this reflects a larger pattern: first ignoring crypto, then adopting it, but only on terms designed for control.

Notwithstanding, supporters hold that the FHFA’s recognition still marks a breakthrough. By including crypto assets without requiring conversion to US dollars, the agency gave digital assets a foothold in one of America’s most systemically important markets.

For crypto holders, especially those who may be cash-poor but asset-rich, this could open a path to qualifying for mortgages that would otherwise be out of reach.

Still, the housing crisis highlights the limits of crypto’s role. The recognition came just as housing stress surged to levels unseen since 2008, and the narrow scope of eligibility means Bitcoin is unlikely to provide widespread relief.

Instead, crypto’s integration into mortgage credit may remain a niche tool.

On the one hand, it is symbolic of broader financial convergence. On the other hand, it remains far from a solution to the affordability crisis gripping American households.