DV8 Appoints Jason Fang as CEO, Strengthens Bitcoin Treasury in Thailand

• DV8 adopts Bitcoin treasury-centric strategy
• Jason Fang takes over as the company's new CEO
• Shareholders exercise 99,9% of available warrants

DV8 announced Jason Fang, founding partner of Sora Ventures, as its new chief executive officer, marking a shift toward a corporate strategy based on Bitcoin and digital asset treasuries. The appointment follows months of balance sheet restructuring and shareholder changes that repositioned the Thai-listed company.

Excited to announce that I will be running as CEO for @DV8Thailand , working with Chatchaval Jiaravanon, owner of Fortune Magazine and affiliate of CP Group, one of the largest conglomerates in Southeast Asia, joining as Chairman of DV8. This partnership includes other leadership… pic.twitter.com/OJ90r6NK7Y

— Jason Fang (@JasonSoraVC) September 1, 2025

In July, an international consortium comprised of Sora Ventures, UTXO Management, Kliff Capital, AsiaStrategy, Moon Inc., and Mythos Group initiated the acquisition of DV8 through a voluntary public offering. The move positions the company to execute a "Bitcoin-first" model targeting corporations in Southeast Asia.

Shortly after the transaction, DV8 appointed Chatchaval Jiaravanon as chairman and expanded its board with local executives and cryptocurrency experts. It also completed a warrant program, in which 99,9% of the DV8-W2 bonds were exercised at 0,80 baht, raising 241 million baht (approximately US$7,4 million). This cash boost, equivalent to a 38% increase, provides immediate capital to implement the treasury and digital infrastructure strategy.

Fang arrives with solid industry experience. In 2024, Sora Ventures launched a $150 million fund to help listed companies adopt Bitcoin on their balance sheets, aligning with local regulations. In early 2025, he introduced the "MicroStrategy 2.0" framework in Hong Kong, which combines direct BTC holdings with structured yield products, reducing investors' exposure to custody risks.

Fang's track record also includes migrating the Sora network to public markets through AsiaStrategy's Nasdaq listing and coordinating convertible note offerings, such as the $10 million offering in August, backed by WiseLink.

Thailand's regulatory environment has proven favorable. The government approved a five-year tax exemption on cryptocurrency gains for individual investors and authorized the use of stablecoins such as USDT and USDC in digital asset transactions. Furthermore, the country recently approved the first spot Bitcoin ETF, expanding regulated access to cryptocurrency.

With Fang at the helm, DV8 will structure treasury governance, define the Bitcoin purchase cadence, and explore cross-listings that connect Asian and US markets, aligning with the Sora-inspired corporate finance model.