Mega Matrix Stock Falls Amid Stablecoin Strategy

Dow Jones

Aug 15

By Kelly Cloonan

Shares of Mega Matrix declined after the company said it completed a $16 million private placement to expand into the stablecoin industry.

The stock slid 31% to $2.39 on Thursday. Shares are up 70% this year.

The holding company, which operates streaming platform FlexTV, said Thursday it intends to use the proceeds from the private placement to build a stablecoin asset allocation system and on-chain yield mechanisms.

Mega Matrix plans to focus on developing corporate treasury strategies using stablecoins and governance tokens. The company is in active discussions with stablecoin issuers, it said.

"Stablecoins are emerging as the foundational anchor of the digital financial system," Chief Strategy Officer Songtao Jia said. "We anticipate that the next wave of growth in digital assets will be driven by treasury strategies centered on stablecoins."

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

August 14, 2025 13:09 ET (17:09 GMT)

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Shares are up 70% this year. \n\n\n  The holding company, which operates streaming platform FlexTV, said Thursday it intends to use the proceeds from the private placement to build a stablecoin asset allocation system and on-chain yield mechanisms. \n\n\n  Mega Matrix plans to focus on developing corporate treasury strategies using stablecoins and governance tokens. 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