Japanese listed company Remixpoint announced the cancellation of its 1.2 billion yen investment in Web3-related businesses.

Odaily Planet Daily reports that Japanese listed company Remixpoint announced today a change in the use of funds raised through a new share issuance, halting its planned investment in Web3.0 related businesses. The company explained that under the current business environment, it is difficult to find high-quality investment projects in the short term that both meet the company's pursuit of "high growth potential" and achieve a "balance between expected returns and risks." Therefore, the 1.2 billion yen (approximately US$7.75 million) originally planned for Web3-related businesses will be redirected to "battery and energy businesses." (CoinDesk)