Japanese retailer Mac House plans $12M crypto investment

Japanese apparel retailer Mac House announced on June 19 that it has completed a capital raise through a third-party allotment of stock options and plans to use up to 1.715 billion yen ($12 million) of the funds to invest in cryptocurrencies, including Bitcoin, according to CoinDesk Japan. To support the move, the company also announced an organizational reorganization, planning to create a new “Digital Asset Management Group” within its corporate division. The group will be tasked with overseeing investments in digital assets and equities, as well as managing associated risks.