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first_img The nonprofit organization claims that Trump's cryptocurrency project caused investors a loss of $4.7 billion

Consumer rights organization Public Citizen released a report stating that U.S. President Trump and his family's cryptocurrency projects have resulted in investor losses of at least $4.7 billion since 2022. Most of the losses stem from the TRUMP meme coin issued by Trump, with investors losing about $3.2 billion, while buyers of World Liberty Financial's USD1 stablecoin "have not suffered significant losses."The report noted that Trump profited $7.2 million from NFT royalties, over $600 million from the sale of World Liberty tokens and equity, $635 million from meme coin royalties, and $197 million in revenue from investing in World Liberty. These figures do not include the company and project shares he continues to hold, and some data is included in the President's 2025 disclosure documents, showing his cryptocurrency-related income reached $1.4 billion.Public Citizen once again called for the inclusion of ethical provisions in the Digital Asset Market Clarification Act (CLARITY Act), requiring the U.S. President and his family to divest from industry-related projects. The bill is scheduled for a final vote on September 15 and requires support from at least 60 senators to advance. White House spokesperson Anna Kelly previously responded that Trump's cryptocurrency investments "do not present a conflict of interest."

first_img Li Auto Q2 revenue is 25.7 billion yuan, with a net loss of 1.7 billion yuan

Li Auto announced its unaudited financial performance for the second quarter of 2026. During the quarter, a total of 98,330 vehicles were delivered, a year-on-year decrease of 11.5%; vehicle sales amounted to 24.1 billion RMB, a year-on-year decrease of 16.7%, but a quarter-on-quarter increase of 11.8%; total revenue was 25.7 billion RMB, a year-on-year decrease of 15.1%, with a quarter-on-quarter increase of 11.7%. The vehicle gross margin was 9.4%, with a total gross profit of 2.8 billion RMB and a gross margin of 11.0%. The operating loss was 2.3 billion RMB, the net loss was 1.7 billion RMB, and the non-GAAP net loss was 1.5 billion RMB.As of June 30, 2026, Li Auto had 495 retail stores in China, covering 160 cities, as well as 536 service centers and authorized stores, covering 220 cities, with 4,097 supercharging stations and 22,593 charging piles. In the second quarter, the company repurchased approximately 41.23 million Class A shares and 9.49 million ADSs. CEO Li Xiang stated that in the first half of the year, Li Auto remained the leading domestic brand in the market for new energy vehicles priced above 200,000 RMB in China, having completed the L series upgrade and advanced the renewal of its pure electric product line. CFO Li Tie mentioned that the gross margin improved quarter-on-quarter and is expected to further expand in the second half of the year with product mix optimization and efficiency improvements.In recent developments, Li Auto launched the delivery of the new Li Auto L8 in June 2026 and started the delivery of the new Li Auto L6 in July, with 30,468 vehicles delivered in July alone. The company emphasized that it will continue to focus on user-oriented products, self-developed technology, and global expansion, while balancing growth and profitability.

first_img Term Finance permanently closes Meta Vaults after governance attack, resulting in a loss of approximately 8.5 million USD

The development team of Term Finance, Term Labs, announced that after the governance attack incident, all Term Meta Vaults have been permanently closed, DAO governance rights have been revoked, but the withdrawal channel remains open. In an update on August 23, Term stated that this closure is irreversible and permanently prevents subsequent deposits, but did not disclose the scale of the remaining assets in the vault, only indicating that it will "explore pathways" to address any gaps, and the amount that depositors can recover remains undecided.Blockchain security company PeckShield estimates that the attacker stole approximately 2,843 ETH (worth about $6.87 million at the time) and 1.68 million USDC (which was later exchanged for about 1.68 million DAI), with total losses estimated at around $8.5 million. On-chain records confirm the related transfers: one transaction transferred 2,841.74 WETH to an address labeled "Term Finance Exploiter 1" by Etherscan, while another transaction transferred 1.68 million USDC to an address labeled "Term Finance Exploiter 2".Yearn stated that Term's vault contract uses its V3 architecture, but the attack occurred on Term's custom governance wrapper, which is not applicable to standard Yearn vaults. Term indicated that, according to the current investigation, its underlying protocol and direct lending market were not affected and is working with external security teams for remediation and recovery, but did not provide any compensation commitments or timelines.
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