equity

The founder of Binance, CZ, stated in an interview with the All-In podcast, "I first met SBF at the Singapore conference in 2019. FTX had proposed forming a joint venture (JV), which was initially rejected. A subsequent proposal led to Binance investing in a 20% stake in FTX. During this process, some issues arose, including malicious defamation and poaching of employees, leading to our exit from the investment in July 2021, and we were not deeply involved as investors. There are still ongoing lawsuits, and the bankruptcy proceedings and compensation situation for FTX remain unclear."Additionally, CZ revealed that applying for a pardon requires a petition written by a lawyer, stating reasons such as whether there is excessive prosecution and whether the parties have good character, etc. The final decision rests entirely with the President of the United States, and there is no fixed or standardized procedure. Historically, most U.S. presidents typically issue pardons on their last day in office, but Biden has also granted "early pardons." CZ believes that obtaining a pardon is crucial for Binance to enter the U.S. market smoothly and compliantly, and he also thinks that the legal issues faced by Trump may, to some extent, aid in the success of the pardon application.

Jump Trading has reached agreements with Kalshi and Polymarket to provide liquidity on the aforementioned prediction market platforms in exchange for a small equity stake. The agreement between Jump Trading and Kalshi involves a fixed amount of equity, while its stake in Polymarket will grow with the trading capacity it provides in its U.S. operations.Currently, Polymarket is valued at $9 billion, and Kalshi is valued at $11 billion. Jump Trading currently has over 20 employees engaged in prediction market trading, aiming to acquire equity in the two leading prediction markets by providing trading resources.

Tether Investments announced today a $100 million investment in the digital asset platform Anchorage Digital. Anchorage Digital Bank N.A. is the first federally regulated digital asset bank in the United States, providing staking, custody, governance, settlement, and stablecoin issuance services for global institutions and innovators.

According to Accessnewswire, Bitcoin treasury company Matador Technologies has announced that it has signed an equity distribution agreement with ATB Cormark Capital Markets, planning to raise $30 million through the issuance of common stock, aimed at supporting its strategic Bitcoin accumulation, with a goal of holding 1,000 Bitcoins by the end of 2026.It is reported that the related common stock will be sold to the public from time to time by the company through agents, at the company's discretion, and sold at the market price at the time of sale, with all transactions adhering to the terms and conditions of the equity distribution agreement.

According to Cointelegraph, Nasdaq-listed insurance brokerage Tianruixiang has announced that it has reached a strategic agreement with an unnamed investor who will invest 15,000 bitcoins in exchange for equity in the company, currently valued at approximately $1.1 billion.Tianruixiang also stated that the agreement includes a strategic collaboration focused on artificial intelligence and the cryptocurrency sector, planning to jointly establish an innovation lab to develop AI-driven trading and risk management tools, blockchain infrastructure, decentralized applications, and related products covering Layer 2 networks, DeFi, and non-fungible tokens (NFTs).According to Bitget data, Tianruixiang (TIRX) closed at $0.15, with an increase of 98.41%. The market capitalization is approximately $7.479 million, significantly lower than the implied value of the proposed bitcoin transaction. If the deal is completed, Tianruixiang will acquire 15,000 bitcoins, making it the eighth largest publicly listed bitcoin treasury company in the world.

Recently exposed Epstein documents show that Epstein had obtained an investment allocation in Coinbase. Epstein provided $3 million to Brock Pierce to invest in Coinbase, but it is unclear whether the transaction was completed.In a subsequent reply to Epstein's email, Brock Pierce mentioned that he wired $15 million for the investment in Coinbase, which would yield $15 million in equity and a $5 million cash return (if the transaction is ultimately completed).

According to data disclosed by BitcoinTreasuries on the X platform, the European fund service platform Universal Investment has increased its holdings in the Bitcoin treasury company Strategy, currently holding 34,967 shares, valued at approximately 21.2 million USD.

The Financial Services Commission (FSC) of South Korea has proposed to limit the shareholding ratio of individuals or companies in cryptocurrency exchanges to 15-20% to avoid conflicts of interest. The FSC chairman stated that exchanges have become part of the financial system and should establish corresponding governance structures. The proposal views exchanges as public infrastructure but has faced opposition from the ruling Democratic Party and the industry.Currently, major exchanges in South Korea are controlled by single founders or companies: Upbit operator Dunamu's founder holds 26%, Nexon owns over 60% of Korbit, Binance controls over 67% of GOPAX, and Coinone's founder holds 53%. Analysts point out that while the regulatory stance is firm, friction with the government and industry will continue, creating a potential deadlock. If the new regulations are implemented, all major exchanges will need to adjust their equity structures.

According to the official blog, the productivity application Notion announced that it has recently completed a private equity buyout offer totaling approximately $270 million, with a valuation of $11 billion. The new investor, Singapore's sovereign wealth fund GIC, participated in this transaction alongside existing investors Sequoia Capital and Index Ventures, acquiring shares directly from current and former employees of the company.The company stated that this acquisition aims to provide financial liquidity to employees to support their long-term development and life planning. To this end, the company has specifically waived the one-year vesting waiting period for employee options, allowing almost all employees to participate. Notion is expected to accelerate growth in 2025 due to the adoption of AI features, with over 50% of its annual recurring revenue coming from AI customers by the end of the year, a figure that has doubled in the past year. The company recently opened an office in Singapore to support its rapid growth in the Asia-Pacific region.

The Nasdaq-listed company RWA, Streamex, announced that it has completed a total fundraising of $35 million by issuing 11,666,667 shares of common stock at a price of $3.00 per share. The company plans to use the net proceeds from this issuance to repay prior debts (to align with its financing strategy) and as working capital to meet general corporate purposes.In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 1,750,000 shares of common stock at the public offering price.

South Korea's third-largest cryptocurrency exchange, Coinone, firmly denied reports of negotiations with Coinbase for a stake sale, calling them "baseless." Previously, the Seoul Economic Daily reported that Coinone's chairman, Cha Myung-hoon, was exploring a partial stake sale, with Coinbase listed as a potential buyer. Despite the denial, Coinone's second-largest shareholder, Com2uS Holdings, saw its stock price soar 17% on Monday, reflecting the market's sensitivity to mergers and acquisitions.The Financial Services Commission of South Korea has suggested setting a cap on major shareholders' stakes at 15-20%. Cha Myung-hoon currently holds a 53.44% stake, and if the regulation takes effect, he will be forced to reduce his holdings.

According to Bloomberg, blockchain lending company Figure Technology Solutions has launched a new on-chain stock and lending platform aimed at reducing intermediaries in traditional stock lending. The platform is called the On-Chain Public Equity Network (OPEN), which supports the issuance of stocks on the blockchain and allows for direct stock lending without the involvement of traditional intermediaries, enabling companies to issue equity on Figure's Provenance blockchain.Unlike many tokenization efforts, OPEN's blockchain stocks are not synthetic versions of publicly traded stocks, but rather represent actual equity ownership, allowing shareholders to lend or pledge these equities.

According to local media reports, the South Korean Financial Services Commission (FSC) has finalized guidelines allowing listed companies and professional investors to trade cryptocurrencies, ending a nine-year ban on corporate crypto investments.Eligible companies can invest up to 5% of their equity each year in the top 20 cryptocurrencies by market capitalization on Korea's five major exchanges. Approximately 3,500 entities (including listed companies and registered professional investment institutions) will gain market access, potentially releasing hundreds of trillions of won in funds.While the policy shift is welcomed, the industry criticizes the 5% cap as overly conservative. The United States, Japan, Hong Kong, and the European Union do not impose such restrictions on corporate crypto holdings. Critics warn that this may hinder South Korea from developing a digital asset treasury company similar to Japan's Metaplanet.The FSC plans to release the final guidelines in January or February, with corporate trading expected to begin by the end of the year.

According to KBS, the Financial Services Commission of South Korea proposed in the "Basic Digital Asset Act" submitted to the National Assembly to limit the shareholding ratio of major shareholders in the country's four largest virtual asset exchanges, suggesting it be set between 15% and 20%, aimed at preventing a few founders and shareholders from controlling the operation of the exchanges.If this proposal is implemented, Dunamu Chairman Song Ji-heung may be required to forcibly sell about 10% of his shares. Platforms such as Bithumb and Coinone will also face significant changes in governance structure, raising concerns in the industry about excessive government regulation.

The Chief Legal Officer of the cryptocurrency venture capital firm Variant Fund, Jake Chervinsky, stated on social media, "The debate about tokens versus equity is just beginning. Many crypto projects were born during the era of former SEC Chairman Gary Gensler, when strong regulatory pressure forced development companies to direct almost all value towards equity rather than tokens. Now, the policy environment is changing, and new opportunities are emerging. It will take a lot of time and experimentation to figure out how (or if) tokens and equity can work well together. This experimental phase is starting right now.I don't have a specific stance on Aave's situation, but I want to emphasize one point: clarity is always the most important. Token holders must clearly understand what they actually own, what they can control, and what they cannot control. The design space for value capture in tokens is extremely broad, far exceeding that of traditional equity.I believe that for a considerable time, it will be unlikely to form a standardized token model like stocks. We believe that tokens should carry on-chain value, while equity should carry off-chain value. The core innovation unlocked by tokens is self-sovereign ownership of digital property. Tokens allow holders to directly own and control on-chain infrastructure without relying on off-chain intermediaries.Off-chain value, however, is different. Token holders cannot directly own or control off-chain income or assets, so in most cases, this value should belong to equity rather than tokens. Of course, other models may also work. Some projects may choose a single asset model with no equity at all; others may decide to treat their tokens as tokenized securities and apply the new rules that the SEC will establish for this market in the future."

The open-source AI trading system NoFx developer Tinkle issued a statement yesterday regarding the community controversy sparked by early project participant Zack. It stated that Zack joined the project on October 29, 2025, after it was open-sourced, participated for about 14 days, and contributed a small amount of code. He then demanded 50% equity in exchange for introducing Amber for commercialization. After being rejected, he withheld the project's Twitter account and demanded 500,000 USDT through a lawyer's letter, while also spreading false information through multiple channels. Tinkle stated that relevant records are verifiable and that the team will no longer respond to personal disputes, focusing instead on product development.In response, Zack issued a statement refuting the claims, stating that the allegations are seriously false and damage his personal reputation. The lawyer's letter was sent by a law firm, evidence has been preserved by the lawyer, and the claims are legal and compliant. If the dispute cannot be resolved through legal channels, he will publicly disclose complete video, audio, chat records, and timelines as evidence.The official NoFx X account subsequently published an open letter stating that recent discussions regarding community members, code usage boundaries, and intellectual property have been handed over to a professional legal team for unified handling. It denied rumors involving financing and利益输送, emphasizing that NoFx is a community-driven open-source project rather than a commercial company. The team also reiterated that the project is licensed under AGPL-3.0 and will legally uphold open-source standards and contributor rights, focusing on building an AI Trading OS that supports self-hosting and multi-platform trading access.Additionally, the ecosystem accelerator amber.ac under Amber Group also issued a statement, clearly stating that there is currently no formal incubation, investment, or commercial cooperation relationship with the NoFx project. The two parties have only engaged in open industry exchanges and called on all parties to return to technical and rational communication to promote healthy ecological development.