VanEck Flags Metaplanet Executive Dilution Despite 41% Share Pool Cut

VanEck's critique shifts the debate from Metaplanet's Bitcoin accumulation to governance and shareholder alignment, a distinction that matters for a sector where equity holders ultimately absorb dilution. The comparison to digital asset treasury peers frames executive compensation as a structural risk rather than a one-off, and the absence of a company response leaves the question open. Whether other asset managers echo the concern — or Metaplanet adjusts its equity plans — is the next signal to watch.