A Japanese listed company suddenly halted its 1.2 billion yen Web3 plan, and the CEO has changed multiple times.

[Coin World] Japanese listed company Remix Point recently made a big turn - the plan to invest 1.2 billion yen in a Web3 project was suddenly called off, and the money was redirected to battery and energy business.

Speaking of which, their previous plans were quite clear: to collaborate with the blockchain node operator Omakase, specifically to engage in the PoS consensus mechanism validation node business. However, the company's current stance is that the market environment is too complex, and they cannot find a reliable project in the short term that has both high growth potential and balanced risk and return.

Interestingly, there have been personnel changes. At the end of September, the newly appointed CEO, Tada Taku, was expected to drive the Web3 transformation, but after three months, he left, and the former CEO, Takahashi Yoshihiko, returned to take over. This lightning-fast leadership change somewhat reflects the internal divisions within the company regarding the direction of Web3.

However, speaking of which, they have been quite quick in their actions regarding Bitcoin - the plan to buy coins worth 4.7 billion yen has already been executed. But by October, the company decided not to continue accumulating crypto assets through the issuance of new shares.

From actively laying out Web3 to suddenly shifting to traditional energy business, Remix Point's move is somewhat hard to understand. Perhaps they found that making promises is not as stable as real industry?