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doubt

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Flash

first_img 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.

Tether CEO responds to doubts after KPMG's first complete audit, we have proven ourselves multiple times

Tether CEO Paolo Ardoino, in an interview with The Block, responded to ongoing criticisms raised after KPMG U.S. completed its first full financial audit. He stated that some critics are unable to admit that their past judgments about Tether were wrong, and said, "Honestly, I don't care." Ardoino mentioned that Tether has repeatedly proven its resilience.He noted that in 2022, Tether processed $7 billion in redemptions within 48 hours, which was about 10% of its reserves at the time, and there was no pause in redemptions during that period. He believes that many traditional financial institutions would struggle to handle withdrawals of a similar scale in such a short time. He also stated that criticism itself is not a bad thing, as it makes Tether better and stronger. Even if some critics view it as a "villain," as long as Tether can continue to serve its claimed 650 million users who rely on USDT, especially in emerging markets, he does not mind.According to informed sources, Tether, as a private company, will not publicly share audited financial statements. The company plans to conduct a full audit once a year in the future while continuing to release quarterly attestation reports. Overall, the KPMG audit is an important step for Tether to enhance transparency, but controversies surrounding its reserves, disclosure levels, and systemic impact have not completely dissipated.

Aster CEO responds to market doubts and announces development roadmap

Aster CEO Leonard has officially responded to the recent ongoing FUD (Fear, Uncertainty, and Doubt) surrounding the project. He stated that the accusations currently circulating are "completely false on a factual level" and represent "maliciously intended opinion manipulation without evidence." In response to questions regarding "sell-off accusations, CZ's involvement, and whether the project is 'exiting liquidity'," Leonard clarified: CZ is merely an advisor to the project, and the investment from Yzi Labs is in a long-term lock-up; Aster operates as an independent project, not controlled or directly operated by CZ or Binance entities. The related accusations are "baseless."He also emphasized that the token release and buyback follow a publicly available token economic model, aimed at incentivizing ecosystem participants rather than facilitating sell-offs. The project has recently upgraded its buyback mechanism, executing daily automatic buybacks on-chain (funded by protocol revenue) to enhance transparency and predictability. Leonard provided the following on-chain verifiable data: a total buyback of 254 million tokens; 78 million tokens have been burned, and an equivalent amount of tokens has been re-locked into the airdrop pool; plans to burn all remaining repurchased tokens in the future.The next development focus for the project includes: expanding asset liquidity and accelerating new listings; a privacy-first Layer 1 network expected to launch in March, achieving both verifiable transactions and privacy protection; subsequently introducing staking features for token holders; optimizing trading experience and interface design. The optimization direction for the token economic model includes: S6 being the last phase of trading airdrops, with future circulation growth expected to slow down; pausing the monthly 1% unlock until staking is live; and continuing to execute automatic buybacks (with up to 80% of fees used for buybacks during S6).
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