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Monday, 2026-09-07

Metaplanet CEO Responds to Compensation Plan Controversy, Admits Disclosure Shortcomings and Denies Involvement in MMXX Trading Decisions

Odaily News: Metaplanet CEO Simon Gerovich stated that he is a significant but non-controlling shareholder of MMXX's parent company, has not participated in the company's trading decisions, and acknowledged that the company has not fully explained the 10th new share subscription rights incentive plan and MMXX's organizational structure. The incentive plan was established in December 2022, with a reward pool of 20% of Metaplanet's fully diluted share capital. After Metaplanet shifted to a Bitcoin treasury strategy, each additional share issuance to buy Bitcoin diluted existing shareholders while expanding the subscription rights available to Gerovich. The company fixed the reward pool at 319.464 million shares in August and set a 5-year lock-up period, but did not restore the size to the level at the time the Bitcoin strategy was implemented.

On August 28, Gerovich exercised 92,000 subscription rights and received 64 million new shares, now holding a total of 79.5875 million shares, approximately 6.2% of the company's total shares. Some shareholders still demand disclosure of MMXX's owners and the cancellation of the additional 273 million share reward quota. Metaplanet's stock fell 7% on Monday, bringing its year-to-date decline to 43%, while the Nikkei 225 index rose 31% during the same period.

Bitcoin Short-Term Holder Whales' Unrealized Profits Hit Record $9.07 Billion

Odaily News: The unrealized profits of Bitcoin short-term holder whales reached $9.07 billion on September 4, setting a new record since the metric began being tracked in 2016. The figure fell to $7.51 billion on September 5, still ranking among the top five highs in the observation period.

Unrealized profits reflect the difference between the current market value of an asset and its on-chain cost basis, and do not indicate that holders have sold or realized profits. Short-term holders typically refer to Bitcoin that has been recently transferred and held for no more than 155 days, with the metric further focusing on large holders.

On September 7, Bitcoin traded in the range of $79,300 to $79,500 at one point, reaching an intraday high of $80,537, before falling below $79,000, putting pressure on the immediate support level near $79,013. If this level is lost, the next support zone is located between $76,300 and $77,000. (Bitcoin.com News)

Metaplanet CEO responds to equity incentive doubts, shareholders say key issues remain unresolved

The CEO of Bitcoin Reserve Company Metaplanet, Simon Gerovich, posted on the X platform in response to the controversy surrounding the company's equity incentive plan and MMXX Ventures. Gerovich admitted that the company "failed to adequately explain" the incentive arrangement known as "Series 10 Stock Options" and stated that he is a "significant but non-controlling shareholder" of MMXX's parent company, not involved in its trading decisions.The controversy stems from a stock rights plan established in December 2022, with a reward pool set at 20% of Metaplanet's fully diluted equity. After shifting to a Bitcoin reserve strategy in April 2024, the company dilutes existing shareholders with each new share issuance, while Gerovich's option rights increase accordingly. On August 18, the board canceled the floating adjustment mechanism, fixing the Series 10 pool at 319 million shares and setting a five-year lock-up period, but did not restore the reward pool to the level it was at when the Bitcoin strategy was initiated. On August 28, Gerovich exercised 92,000 Series 10 options, acquiring 64 million new shares, and currently holds about 6.2% of the company; he and MMXX together hold over 27% of the fully diluted equity.Shareholders expressed dissatisfaction. A shareholder using the pseudonym The Bitcoin Pharaoh stated on X that the adjustments in August were "a step in the right direction," but demanded that Gerovich address the issues that have arisen, disclose the owners of MMXX, and restore the reward pool to the level it was at when the Bitcoin strategy was initiated.

Brazil's Crypto Market Reaches $98.7B in 2025, Banks Expand Services but Hold Zero Crypto

Odaily News: Brazil's cryptocurrency market saw trading volume of 505.5 billion reais (approximately $98.7 billion) in 2025, more than five times the 94.9 billion reais in 2020. Corporate-related transactions accounted for 497 billion reais, representing 98.3% of the total reported to Brazil's Federal Revenue Service, with individual investors accounting for the remainder.

Itaú, Brazil's largest asset manager, now offers 15 crypto assets through its investment app, including Bitcoin, Ethereum, and the dollar-pegged stablecoin USDC. Fintech Nubank lists 28 crypto assets, and Banco do Brasil has seen over 11 million reais in transactions since it began offering direct Bitcoin and Ethereum trading in January.

According to filings with the Central Bank of Brazil as of March 2026, Brazilian banks hold no proprietary virtual assets but may custody and process crypto assets on behalf of clients. Since 2025, Itaú, Bradesco, Santander, Banco do Brasil, and Nubank have all expanded their crypto asset services.

Brazil passed the Virtual Assets Legal Framework in 2022 and issued three regulatory resolutions in November 2025, requiring institutions offering crypto trading, custody, or transfer services to obtain licenses, meet minimum capital requirements, and segregate client accounts, with a compliance deadline of October 30, 2026. Banco Safra issued the dollar-pegged stablecoin Safra Dólar in September 2025, which it custodies itself. (Decrypt)

Liquid attackers returned 3,400 BTC, with approximately 600 still not returned

Self-proclaimed "white hat hackers" extracted about 4,000 BTC from Liquid Network and have returned 3,400 BTC (approximately $269.2 million) to the federal wallet of the sidechain on Monday, recovering about 85% of the funds. The incident began on Sunday when a customer sent 4,000 L-BTC to SideSwap's peg-out service. The attackers claimed to be "white hat hackers" through Bitcoin transaction messages and demanded that the vulnerability be fixed first. Blockstream then sent a signed message stating that "the bridging node has been patched and funds can be safely returned," after which the attackers transferred the funds. Nevertheless, about 598.5 BTC (approximately $47 million) remains in the related address. Ledger's Chief Technology Officer Charles Guillemet expressed skepticism about the "white hat" claim, stating that if this were a negotiated reward under on-chain crypto contracts, it looked more like extortion. Liquid has disabled the bridging nodes and requested exchanges to suspend L-BTC deposits and withdrawals, but has not yet announced a plan for handling the remaining funds or when normal operations will resume.

The cryptocurrency trading volume in the Middle East and North Africa reached 350 billion USD, doubling compared to 2022

The latest report from the Bitcoin Policy Institute shows that due to the Iran conflict, the annual blockchain transaction volume in the Middle East and North Africa is expected to reach $350 billion in 2025-2026, more than three times the approximately $100 billion in 2022. The report points out that regional conflicts typically accelerate capital outflows, but the Iran conflict presents a different dynamic: an increasing amount of capital is shifting towards digital assets, highlighting the growing role of cryptocurrencies (especially Bitcoin) as a hedge against economic and geopolitical uncertainty.The report states that after the outbreak of the conflict, Bitcoin initially fell in sync with other risk assets, but then investors shifted from higher-risk cryptocurrencies to Bitcoin, raising its market capitalization share to a one-month high of 64.8%. In countries like Egypt, Turkey, Lebanon, and Iran, due to currency devaluation, more people are increasingly using Bitcoin and dollar-pegged stablecoins to preserve value. Meanwhile, Gulf countries like the UAE and Bahrain are attracting crypto firms and institutional investors by establishing regulatory frameworks.Chainalysis data also shows that after the US-Israel airstrikes from February 28 to March 2, approximately $10.3 million left Iranian crypto exchanges. The report believes that in countries suffering from sanctions, conflict, or currency instability, cryptocurrencies have become tools for preserving and transferring value outside the traditional financial system, while regulated Gulf markets continue to attract institutional capital.

Kalshi's Bitcoin perpetual contract receives support, the U.S. CFTC says CME's lawsuit is "making a fuss over nothing."

According to Bitcoin News, the U.S. Commodity Futures Trading Commission (CFTC) has requested a Washington D.C. court to dismiss the lawsuit filed by the Chicago Mercantile Exchange (CME) against Kalshi regarding Bitcoin perpetual futures contracts.Kalshi's cash-settled BTCPERP contract was approved on May 29, which has no expiration date, employs a funding rate mechanism, and tracks the spot price of Bitcoin. CME argues that contracts without a delivery date that continuously generate funding payments should be classified as swaps, not futures. In response, the CFTC stated that CME's lawsuit is "making a fuss over nothing" and pointed out that CME could also list similar products. Furthermore, the CFTC noted that CME's Bitcoin futures trading volume in June and August was higher than in May, indicating that related business has not been significantly affected. CME must submit a response by October 2.

CFTC Asks Court to Dismiss CME Lawsuit Against Kalshi Bitcoin Perpetual Futures

Odaily News: Bitcoin News posted on X that the CFTC has asked a Washington, D.C. court to dismiss CME's lawsuit against Kalshi's Bitcoin perpetual futures. Kalshi's cash-settled BTCPERP was approved on May 29, has no expiration date, uses a funding rate, and tracks the spot price. CME argues that contracts without a delivery date and with continuous payments are swaps, not futures; the CFTC calls this "much ado about nothing" and notes that CME could also list similar products, and that CME's Bitcoin futures trading volumes in June and August were both higher than in May. CME must file a response by October 2.

About 3,400 BTC Returned to Liquid Federation, ~600 Still Missing

Odaily News: According to Bitcoin News monitoring, Liquid Federation has recovered about 3,400 of the approximately 4,000 BTC exploited, with about 600 still unrecovered. The return occurred after an on-chain exchange, and the suspected white hat hacker had stated that the bitcoins would be returned after Blockstream fixes the vulnerability. The incident is still developing.

Arkham marked Wintermute holding a $2.4 million PONS position

The on-chain data analysis platform Arkham has attributed a holding of 3.43 million PONS (approximately 2.4 million USD) to the market maker Wintermute, making it a significant new holder of PONS. Arkham indicates that Wintermute appears to be gradually buying PONS through a time-weighted strategy and speculates that it may be preparing to market make for the token on-chain.PONS is the native token of Pons, a meme coin launch platform on the Robinhood Chain, which is responsible for routing the completed fundraising tokens to the Uniswap pool. Arkham's data shows that this holding accounts for approximately 0.48% of the circulating supply of PONS (712.1 million tokens) and 0.34% of the total supply (1 billion tokens). Additionally, the Uniswap V3 pool and the Uniswap PoolManager contract hold 6.46 million and 5.58 million PONS, respectively.Previously, Uniswap Labs had also purchased PONS tokens, with the Pons project team stating that this move aims to achieve "long-term alignment."

Biden's son Meme coin has "sucked" the market before its launch, popular Meme coins in the Robinhood ecosystem are experiencing a widespread decline

Due to the upcoming launch of the meme coin $LAPTOP named after Hunter Biden, the son of former U.S. President Joe Biden, the popular meme coins in the Robinhood ecosystem have experienced a decline.Among them, PONS dropped nearly 9% after the announcement of the spontaneous coin, with a market capitalization falling to $726 million; CASHCAT dropped nearly 10% after the announcement of the spontaneous coin, with a market capitalization falling to $190 million; AI dropped over 10% after the announcement of the spontaneous coin, with a market capitalization currently reported at $179 million; MEME dropped over 20% after the announcement of the spontaneous coin, with a market capitalization falling to $91 million; microduck dropped over 25% after the announcement of the spontaneous coin, with a market capitalization falling to $17 million. Price calculations are based on the announcement of the coin at 22:50 Beijing time.

Robinhood Ecosystem Meme Coins Fall Broadly, MEME Drops Over 20% in an Hour

Odaily News: Possibly affected by Biden's son issuing a coin, mainstream Meme coins in the Robinhood ecosystem have fallen broadly:

MEME's market cap is temporarily reported at $86.1 million, down 21.72% in one hour;

PONS's market cap is temporarily reported at $510 million, down 4.8% in one hour;

AI's market cap is temporarily reported at $188 million, down 5.9% in one hour;

CASHCAT's market cap is temporarily reported at $206 million, down 1.87% in one hour;

microduck's market cap is temporarily reported at $17.46 million, down 8.62% in one hour.

Hunter Biden, Son of Former US President, Plans to Launch Meme Coin LAPTOP

Odaily News: Hunter Biden, son of former US President Joe Biden, plans to launch a Meme coin called LAPTOP. Currently, details regarding the token's launch date, issuance size, and specific mechanisms have not been announced. It is reported that the token is themed around the controversial "Hunter Biden laptop," which sparked widespread online discussions due to US political controversies. The token launch is also described as a political statement against Trump and his family. (WSJ)

Yunfeng Financial, Indirectly Held by Jack Ma, Included in Shanghai-Shenzhen-Hong Kong Stock Connect; Previously Disclosed Purchase of 10,000 ETH

Odaily News: Yunfeng Financial, indirectly held by Jack Ma, announced its inclusion in the list of eligible securities under the Stock Connect schemes (Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect), effective from September 7, 2026. Following the inclusion, eligible mainland Chinese investors can trade the Group's shares listed on the Hong Kong Stock Exchange through domestic securities companies via the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, providing a more convenient channel for mainland investors to invest in the Group's shares.

Yunfeng Financial previously disclosed that it had purchased a total of 10,000 ETH in the open market, with a total investment cost (including fees and expenses) of $44 million. The purchase funds came from the Group's internal cash reserves, and the purchased ETH is classified as investment assets in the Group's financial statements. In addition, Yunfeng Financial also stated that, apart from Ethereum, it plans to explore incorporating diversified mainstream digital assets, including Bitcoin (BTC) and Solana (SOL), into the company's strategic reserve assets.

Insider Whale's Proxy Sells 114,000 HYPE for $1.57M Profit

Odaily News: According to on-chain analyst Ember's monitoring, Garrett Jin, the proxy for the "1011 insider whale," sold 114,000 HYPE tokens, purchased in June at an average price of $72.5, at a price of $86.3, making a profit of $1.57 million.