Bitcoin
Metaplanet Fails All 4 VanEck Tests on Its 43,000 Bitcoin (BTC) Treasury Pay Practices
COINOTAG·September 19, 2026·1 min read
VanEck graded Metaplanet 'Bad' on executive compensation, making it the only top-10 digital asset treasury to fail all four tests. The firm holds 43,000 Bitcoin and has a 14.7% option pool, which contributed to the poor grade. This marks a rare negative assessment for a major Bitcoin treasury holder.
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