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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%.

The Sandbox: Officially opens the compensation claim for the vulnerability incident, which will last until midnight on the 23rd

According to official news, The Sandbox announced the official opening of SAND compensation claims. Users affected by the cross-chain contract vulnerability incident involving Base and BNB Smart Chain (BSC) networks on August 22, who held bridged SAND on the affected networks before the incident, can receive full compensation in SAND on the Ethereum network at a 1:1 ratio. Eligibility for compensation is based on the on-chain balance snapshot before the incident and is unrelated to any transactions, transfers, or holdings by users after the incident.The Sandbox stated that eligibility for compensation is determined based on the on-chain balance recorded before the contract was compromised. The snapshot for the Base network corresponds to block 50283188 at 23:42:03 UTC on August 21, 2026, and the BSC snapshot corresponds to block 117322025 at 11:42:44 UTC on August 21, 2026.Users holding Base or BSC network SAND through centralized exchanges do not need to take any action, as The Sandbox is coordinating with the relevant exchanges to handle compensation; however, users holding SAND in personal wallets will need to claim it themselves. The claim period is from September 8 to September 22, 24:00 (UTC+8). Claims only require a transaction initiated from the original wallet that held SAND at the time of the snapshot, without the need for token authorization, signing off-chain messages, or transferring to any address.

HyENA announces the cessation of operations, and all markets will be gradually removed from August 31 to September 2

HyENA announced that it will cease operations and close all markets, with user funds unaffected. The official statement indicated that HyENA was built on the Hyperliquid HIP-3 standard and Ethena's USDe, allowing traders to earn profits while using USDe as margin for trading perpetual contracts, processing a cumulative trading volume of over $4 billion, serving more than 12,000 traders, and distributing nearly 2.5 million USDe rewards to margin users.The official statement noted that with the further alignment of Hyperliquid and USDC, the development space for USDe margin on the platform has changed, leading to the decision to terminate HyENA. Markets will be delisted in the order of one market per hour from August 31 to September 2, with positions automatically settled at the final marked price, and margins returned to the spot balance. HLPe deposits can be claimed at a 1:1 ratio along with accumulated rewards and withdrawn via Upshift, with the final reward distribution date set for August 27 and the final affiliate commission payment date on September 9.Additionally, the Ethena exchange reward program ended in June 2026, and HyENA points will remain in their final state, with no snapshots, conversions, or distributions taking place, and they hold no monetary value. The official emphasized that HyENA has no tokens and no issuance plans.

The Sandbox: Compensation will be carried out based on the on-chain snapshot before the attack, and the compensation application process is expected to open within two weeks

The Sandbox released an update on the security vulnerability attack incident involving the SAND cross-chain bridge, stating that the attacker modified the verification mechanism to forge cross-chain deposit messages and mint unbacked SAND. This incident resulted in approximately 14.7423 million SAND being withdrawn, valued at about $697,000. Additionally, some uncollateralized SAND was profited through market trading, leading to an overall economic impact of approximately $1.497 million, of which the attacker actually obtained about $987,000.The Sandbox stated that the attack did not affect the supply of SAND on Ethereum and Polygon, with the total amount of SAND on Ethereum remaining unchanged at 3 billion. There were also no super administrator privileges stolen, and the attack stemmed from a vulnerability caused by the combination of the general call function in the token contract and the design of bridge permissions. Currently, the related addresses have been marked, and collaboration has begun with exchanges, security agencies, and the LayerZero team.For affected users, The Sandbox promises to compensate wallets holding legitimate bridged SAND with a 1:1 ratio of SAND on the Ethereum chain based on an on-chain snapshot taken before the attack. The compensation application process is expected to open within two weeks and will last for two weeks.

hot_img U.S. Senator demands that Waller disclose his conversations with Trump, questioning the transparency of the Federal Reserve

Nick Timiraos, the chief economic reporter for The Wall Street Journal and known as the "mouthpiece of the Federal Reserve," recently wrote that Federal Reserve Chairman Kevin Warsh is facing intense scrutiny from Congress. On Wednesday local time, four members of the Senate Banking Committee, led by Senator Chris Van Hollen, jointly sent a letter to Warsh, demanding that he publicly disclose all communication details with President Donald Trump.Earlier reports indicated that Warsh had maintained frequent phone contact with Trump since taking office, but the publicly available schedule from the Federal Reserve does not record any related calls during Warsh's early days in office. Lawmakers believe that this "selective transparency" could raise concerns about government interference in monetary policy.Kevin Hassett, the director of the White House Council of Economic Advisers, previously stated that Warsh has long engaged in economic discussions with Trump but claimed that Trump would not pressure the Federal Reserve. Trump later denied the related reports, stating that he had only had a brief conversation with Warsh a few days prior.Currently, the Federal Reserve has stated that it will continue to delay the disclosure of the chairman's schedule according to established rules. The market is watching to see if Warsh will provide additional information and whether this matter will affect public confidence in the independence of the Federal Reserve.

hot_img Xiaohongshu has created an "AI Shopping Guide" feature that directly pushes product cards and order links in conversation scenarios

According to an exclusive report from "Du Jia," Xiaohongshu is developing a brand new "AI Shopping Guide" feature, which relies on a conversational interaction model to directly push product cards and attach order jump links in Q&A scenarios. This project is led by Daoxuan (Pan Boyuan). As of the time of publication, Xiaohongshu has not responded.Previously, Xiaohongshu launched an AI summary feature in store reputation, and this AI shopping guide is a further extension of its intelligent transaction chain. According to public data, Xiaohongshu has approximately 400 million global MAU, with 39 million users engaging in explicit purchasing behavior daily, resulting in 140 million active purchase requests, over 47 million users entering merchant live streams, and more than 170,000 merchant group chats remaining active. During the 618 period, the GMV of store broadcasts increased by 265% year-on-year, and note content drove transaction growth of over 210%.Xiaohongshu currently adopts a dual transaction model of "internal marketplace closed loop plus external traffic diversion," and there is still room for improvement in the direct order conversion rate within the platform. The launch of the AI shopping guide feature is expected to further enhance its internal e-commerce GMV and revenue.
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