Metaplanet Cuts Executive Options 41%, Scraps Employee Warrant Plan

Metaplanet's retreat on equity incentives lands alongside a sharp two-session share decline, which suggests the bitcoin-holder model faces pressure when its own stock, not just its coin holdings, becomes the story. The company gave no detail on the revised terms, so the structure of the remaining options and whether the employee warrant plan returns are the open questions. For other listed bitcoin proxies, this is a reminder that shareholder dilution and token exposure are now being judged together.