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Vy Capital disclosed that it holds $40 billion in SpaceX shares, becoming the fifth largest shareholder

According to the Financial Times, the low-profile venture capital firm Vy Capital currently holds approximately $40 billion worth of SpaceX shares, with a stake of about 3.4%. According to Bloomberg data, the firm has become the fifth-largest shareholder of SpaceX, disclosing a holding size larger than that of Silicon Valley venture capital firms such as Sequoia Capital and Andreessen Horowitz. Vy Capital first invested in SpaceX in 2016 when the company's valuation was around $15 billion; after SpaceX went public this year with a valuation of about $1.75 trillion, the value of its holdings has significantly increased.Vy Capital is also the largest external investor in Elon Musk's tunnel company The Boring Company and brain-computer interface company Neuralink, and had committed $700 million for Musk's acquisition of Twitter in 2022. The firm's head, John Hering, has a close relationship with Musk, having invested over $100 million in SpaceX shortly after the Falcon 9 rocket launch failure in 2016; since 2019, he has also been involved in the early business development of Starlink, including hiring personnel and building financial models, and has held a SpaceX employee badge. Currently, Hering serves as a director of The Boring Company, and Vy Capital also participated in the company's recent $3 billion financing round.Vy Capital's assets under management have increased from $27 billion at the end of last year to $50 billion in June of this year. In a letter to investors, the firm stated that since its establishment in 2014, it has achieved a total internal rate of return of 41% and has distributed $4.6 billion to investors. Vy Capital expects that if investment judgments materialize, SpaceX's valuation will exceed $10 trillion in the next 5 to 7 years. The firm currently has only a few dozen employees, with a core investment team of four, and has stopped accepting external investors since last year.

first_img Samsung Electronics is developing AI glasses with a display, expected to be released in the second half of 2027 at the earliest

According to the Science and Technology Innovation Board Daily, Samsung Electronics has begun developing its first AI glasses equipped with a display. This product not only provides audio functionality but also displays colorful visual information on the lenses, similar to the Meta Ray-Ban Display smart glasses.Industry insiders revealed that Samsung Electronics is considering developing an ultra-small screen with a size of only 0.2 inches or smaller for the AI glasses, and last month assigned this R&D task to Samsung Display, outlining requirements regarding product dimensions, information display area, color, and price. Samsung Electronics is currently evaluating candidate panel solutions such as OLEDoS or LEDoS, and the industry expects this product to be released in the second half of 2027 or the first half of 2028.Currently, the specific details of the glasses have not been finalized. In terms of color display, Samsung Electronics is expected to use a limited grayscale with 4-bit color instead of a high-definition screen, and it has not yet decided whether to adopt a binocular or monocular design. Industry insiders indicate that RGB OLEDoS faces challenges in terms of price and yield, and it is likely that a white OLEDoS panel will be launched. Samsung previously released AI glasses without a display, co-developed by Samsung Electronics, Google, Gentle Monster, and Warby Parker.

Coinbase accelerates the promotion of Bitcoin anti-quantum measures: multiple parties discuss future asset migration plans

Coinbase announced that it has collaborated with Stanford University cryptography professor Dan Boneh and Localhost Research to hold a closed-door "Post-Quantum Bitcoin Workshop" at Stanford University, gathering Bitcoin developers, cryptography experts, researchers, institutional custodians, and hardware wallet specialists to discuss the technologies and migration plans for Bitcoin to address future quantum computing threats.The workshop focused on assessing the progress of quantum computing, post-quantum cryptography, and various post-quantum signature schemes applicable to Bitcoin, as well as discussing Ethereum's anti-quantum planning, the practical requirements faced by institutional custody businesses, and how to introduce post-quantum security mechanisms for Bitcoin through new output types. Participants believed that rather than predicting when quantum computing will pose a real threat to existing cryptographic systems, it is more important to establish well-tested response plans in advance.Quantum computing does not currently pose an urgent crisis, but the earlier research and coordination begin, the better we can avoid hasty network upgrades and asset migrations under pressure in the future. However, there is currently no consensus on a single post-quantum solution. Different solutions involve trade-offs in terms of security, transaction data size, hardware performance, key management, and the difficulty of user migration. Participants felt that Bitcoin's anti-quantum measures cannot rely solely on protocol layer upgrades, but must also consider how individual users, institutional custodians, wallets, and hardware devices generate, store, back up, and migrate keys and assets.

first_img Metaplanet's options pool has caused shareholder dissatisfaction, CEO responds to the concerns

The tenth round of executive option pool at Japan's Bitcoin treasury company Metaplanet continues to spark shareholder dissatisfaction. This option pool was originally designed to be 20% of the fully diluted equity and automatically expands as the company issues new shares to increase its Bitcoin holdings. Some shareholders are calling for the cancellation of the newly added 273 million shares and for greater transparency in future decision-making. On August 18, Metaplanet froze the option pool at 319.5 million shares, but critics argue that this actually amplifies the dilution for existing shareholders, as the option pool increased from 46 million shares to 319.5 million shares.Metaplanet CEO Simon Gerovich has committed to re-evaluating the company's governance and compensation policies and clarifying its relationship with shareholder MMXX Ventures, stating that it is merely a non-controlling significant shareholder of MMXX's parent company and does not hold an executive position. On August 31, Metaplanet disclosed that Gerovich had exercised 92,000 shares from the option pool. Matthew Sigel, head of digital asset research at VanEck, suggested freezing further exercise rights of the tenth round option pool, allowing holders to voluntarily waive excess rights, and replacing the tenth round option pool with a five-year incentive plan primarily linked to each share's fully diluted Bitcoin holdings, approved by shareholders.In its announcement on August 18, Metaplanet acknowledged that the decision to expand the option pool "amplified the dilution borne by existing shareholders." As of Wednesday's close in Tokyo, Metaplanet's stock price rose, narrowing the five-day decline to about 16.3%.
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