- Mega Matrix Inc. (MPU) announced a strategic update to its Digital Asset Treasury (DAT) strategy, transitioning from a single-asset approach focused on Ethena’s governance token (ENA) to a **diversified basket of leading stablecoins and their governance tokens**.  **[1953021_0001213900-25-094378_ea025940101ex99-2_megamatrix.htm:0]** 
- The enhanced DAT framework is designed around a **"dual-engine" model**, comprising "Stable Yield" from deploying stablecoins in low-risk decentralized finance (DeFi) strategies to generate recurring income, and "Growth Potential" from allocating to governance tokens of leading stablecoin protocols.  **[1953021_0001213900-25-094378_ea025940101ex99-2_megamatrix.htm:0]** **[1953021_0001213900-25-094378_ea0259401-6k_megamatrix.htm:1]** 
- This strategic evolution aims to position MPU as one of the first U.S.-listed firms to anchor its treasury on a diversified stablecoin ecosystem, combining yield stability with long-term growth participation.  **[1953021_0001213900-25-094378_ea025940101ex99-2_megamatrix.htm:0]**

Mega Matrix Inc. Diversifies Digital Asset Treasury Strategy

- Mega Matrix Inc. (MPU) is **diversifying its Digital Asset Treasury (DAT) strategy** from a single-asset focus on Ethena's governance token (ENA) to a basket of leading stablecoins and their governance tokens.  **[1953021_20251001CN85493:0]** 
- The new DAT framework employs a **"dual-engine" model** for **Stable Yield** (from low-risk decentralized finance strategies with stablecoins) and **Growth Potential** (from governance tokens of stablecoin protocols).  **[1953021_20251001CN85493:0]** 
- This strategic shift aims to capture both **stable yield and governance upside** across multiple ecosystems, including USDe/USDtb: ENA, USDS/DAI: SKY, USDH: HYPE, USDF: Aster, and USST: STBL.  **[1953021_20251001CN85493:0]**

Mega Matrix announces diversification of Digital Asset Treasury strategy

- Mega Matrix Inc. reported a **net loss of $1.5 million** for the three months ended June 30, 2025, an improvement from a **$3.6 million net loss** in the same period of 2024.  **[1953021_0001213900-25-093050_ea025839001ex99-1_mega.htm:1]** **[1953021_0001213900-25-093050_ea025839001ex99-2_mega.htm:8]**  Revenues for Q2 2025 were **$7.1 million**, an increase of **$0.2 million** compared to Q2 2024.  **[1953021_0001213900-25-093050_ea025839001ex99-2_mega.htm:7]** 
- As of June 30, 2025, the company's **total assets decreased to $16.6 million** from **$19.5 million** at December 31, 2024, and **cash and cash equivalents were $4.0 million**.  **[1953021_0001213900-25-093050_ea025839001ex99-1_mega.htm:0]**  The company had an **accumulated deficit of $30.3 million** but management assesses current **working capital of $6.4 million** is sufficient for the next 12 months.  **[1953021_0001213900-25-093050_ea025839001ex99-1_mega.htm:0]** **[1953021_0001213900-25-093050_ea025839001ex99-1_mega.htm:11]** 
- On July 24, 2025, the company closed a private placement, selling **16,000,000 Class A ordinary shares** for **$16,000,000** to fund its strategic expansion into the stablecoin sector.  **[1953021_0001213900-25-093050_ea025839001ex99-2_mega.htm:3]** **[1953021_0001213900-25-093050_ea025839001ex99-1_mega.htm:21]** 
- The company updated its digital asset treasury strategy in July and August 2025, restarting Ethereum staking and focusing on stablecoin governance tokens as its primary treasury asset.  **[1953021_0001213900-25-093050_ea025839001ex99-1_mega.htm:5]**  Shareholders also approved an increase in share capital on August 15, 2025, including **900,000,000 additional Class A ordinary shares**.  **[1953021_0001213900-25-093050_ea025839001ex99-2_mega.htm:3]** **[1953021_0001213900-25-093050_ea025839001ex99-1_mega.htm:21]**

Mega Matrix Inc. Reports Q2 2025 Financial Results and Strategic Updates

- Mega Matrix Inc. (MPU) announced the **accumulated strategic acquisition** of approximately **$6 million** worth of ENA tokens.  **[1953021_20250919CN77624:0]** 
- This includes a recent **$3 million purchase** executed over the past week.  **[1953021_20250919CN77624:0]** 
- MPU acquired **8.46 million ENA tokens** at an average cost of **$0.7165 per token**, inclusive of all fees and transaction costs.  **[1953021_20250919CN77624:0]** 
- These purchases reinforce MPU's growing position in its stablecoin governance tokens DAT strategy, with plans for continued weekly accumulations.  **[1953021_20250919CN77624:0]**

Mega Matrix Inc. Announces $6 Million ENA Token Purchase

- Mega Matrix (NYSE: MPU) has filed a **$2 billion** universal shelf registration to advance its Digital Asset Treasury (DAT) strategy, becoming the **first U.S.-listed company** to anchor its corporate treasury on **ENA**, the governance token of the **USDe** stablecoin.  **[1953021_20250912CN72132:0]** 
- This move marks a strategic pivot for Mega Matrix, previously a diversified holding company, to focus on blockchain innovation, stablecoins, and decentralized finance.  **[1953021_20250912CN72132:1]** 
- MPU's strategy aims for "double leverage" from ENA, providing exposure to yield as USDe expands and potential appreciation in ENA's token price.  **[1953021_20250912CN72132:0]**  As of **September 2025**, USDe is the **world's third-largest stablecoin** and the largest fully on-chain stablecoin.  **[1953021_20250912CN72132:0]** 
- USDe has demonstrated rapid growth, with its market cap climbing **over 200%** since **August 2024**, and achieving **$100 million in revenue** within **250 days** and **$10 billion in circulation** in **500 days**.  **[1953021_20250912CN72132:0]**  MPU's internal analysis suggests the stablecoin market could ultimately approach **$10 trillion**.  **[1953021_20250912CN72132:0]**

Mega Matrix Files $2 Billion Shelf Registration for ENA-Anchored Digital Asset Treasury

- Mega Matrix Inc. (MPU) announced its **first strategic acquisition** of approximately **$3 million** worth of ENA tokens.  **[1953021_20250912CN70261:0]** 
- The company purchased **3.86 million ENA tokens** at an average cost of **$0.7117 per token** (inclusive of fees and transaction costs) over the past two weeks.  **[1953021_20250912CN70261:0]** 
- This transaction represents the initial implementation of MPU's **stablecoin governance token DAT strategy**.  **[1953021_20250912CN70261:0]** 
- MPU plans to systematically accumulate $ENA on a weekly basis going forward, based on market conditions.  **[1953021_20250912CN70261:0]**

Mega Matrix Inc. Announces First ENA Token Purchase

- Mega Matrix Inc. updated its digital asset treasury strategy on **August 21, 2025**, to focus on stablecoin governance token as its primary treasury asset, building on earlier plans to hold Bitcoin and Ethereum and restart Ethereum staking.  **[1953021_0001213900-25-081183_ea0254741-6k_mega.htm:1]** 
- The company's operating results will be significantly impacted by the **volatile prices of Digital Assets**, including ENA, BTC, and ETH, which are subject to substantial uncertainty and can lead to significant volatility in reported earnings due to fair value measurement under **ASU 2023-08**.  **[1953021_0001213900-25-081183_ea0254741-6k_mega.htm:4]** **[1953021_0001213900-25-081183_ea0254741-6k_mega.htm:7]** 
- Implementing this new digital asset treasury strategy presents **organizational and infrastructure challenges** and exposes the company to various **risks**, including regulatory uncertainty (e.g., digital assets being classified as securities), high price volatility, and counterparty non-performance, particularly with custodians.  **[1953021_0001213900-25-081183_ea0254741-6k_mega.htm:1]** **[1953021_0001213900-25-081183_ea0254741-6k_mega.htm:2]** **[1953021_0001213900-25-081183_ea0254741-6k_mega.htm:5]** **[1953021_0001213900-25-081183_ea0254741-6k_mega.htm:9]** **[1953021_0001213900-25-081183_ea0254741-6k_mega.htm:12]** **[1953021_0001213900-25-081183_ea0254741-6k_mega.htm:18]** **[1953021_0001213900-25-081183_ea0254741-6k_mega.htm:19]** 
- The concentration of planned **ENA holdings** further enhances the inherent risks due to a lack of diversification.  **[1953021_0001213900-25-081183_ea0254741-6k_mega.htm:12]**

Mega Matrix (MPU)