Here’s what happened in crypto today

Today in crypto, Bitget announced plans to acquire a Thai crypto exchange, analysts said a Bitcoin rally could revive corporate treasury buying and shareholders of Super League approved a deal giving Metaplanet control of the Nasdaq-listed company.

Bitget plans Thai crypto exchange acquisition weeks after $388M hack

Crypto exchange Bitget has announced plans to acquire Thailand’s GMO-Z.com Cryptonomics, seeking to expand its Southeast Asia footprint weeks after a major hack impacting its hot and warm wallets. 

The proposed transaction involves BTGT Management (Thailand), a company in which Bitget says it holds an interest, according to an announcement shared with Cointelegraph.  The acquisition will allow Bitget to introduce its trading platform to Thai users.

“Thailand is an important part of Southeast Asia’s digital asset landscape, and this acquisition gives us a great opportunity to establish local operations in a thriving country,” said Bitget CEO Gracy Chen.

GMO Internet disclosed the proposed sale to BTGT Management in a Sept. 24 filing, targeting completion for Oct. 31. Bitget’s announcement identifies its involvement in the transaction.

The company declined to comment on how much interest in BTGT Management the company holds and the financial and ownership terms of the proposed acquisition.

Bitcoin rally could revive treasury buying, but easy-money days over

Corporate Bitcoin purchases could accelerate toward the end of 2026 and into 2027 if the cryptocurrency rallies, but investors are likely to be more selective about which treasury companies they finance, according to analysts. 

Speaking to Cointelegraph, Bitwise head of research Ryan Rasmussen said there was a broad slowdown in Bitcoin treasury buying in Q3. Strategy’s Bitcoin holdings increased by a net 1,666 BTC in Q3, down from 83,901 BTC in Q2, according to company filings. Other public companies added a net 5,617 BTC, compared with 45,725 BTC in the previous quarter, according to figures supplied by Rasmussen. 

Rasmussen said he expects a re-acceleration of corporate Bitcoin purchases to begin as early as this year. Bitfinex head of derivatives Jag Kooner said renewed buying could follow if treasury companies regain premiums to the value of their Bitcoin holdings, but cautioned investors have become more selective since the 2025 boom.

“Shareholders have seen premiums collapse and some companies sell into weakness. Investors are now pricing these businesses on funding costs, balance-sheet discipline and bitcoin per share,” said Kooner. 

“A rally could therefore restart buying, particularly among companies with credible financing structures but a return to last year’s indiscriminate capital raising looks unlikely.”

Metaplanet gains shareholder approval for US Bitcoin treasury expansion

Shareholders of Nasdaq-listed Super League have approved a transaction that would give Japanese Bitcoin treasury company Metaplanet a 93.7% ownership stake in exchange for 2,100 BTC and $2.5 million in cash.

Under the agreement, Metaplanet will receive nearly 45 million common shares, preferred stock carrying governance rights and warrants to purchase additional shares. The deal would give Metaplanet control of Super League’s board and major corporate decisions.

Super League plans to rebrand as Superplanet and trade under the ticker SUPA, shifting its business toward accumulating Bitcoin. The company intends to fund future purchases primarily through preferred stock offerings rather than conventional debt.

The transaction would also give Metaplanet access to US dollar-denominated capital markets, supplementing its existing fundraising activities in Japan. Metaplanet could invest an additional $210 million through junior preferred shares.

Metaplanet currently holds 44,000 BTC, making it the second-largest publicly traded corporate Bitcoin holder behind Strategy. The company has also proposed allocating up to 15% of its assets to strategic investments aimed at supporting Bitcoin purchases and dividend payments.