The major shareholder of Walnut Capital donated 10 bitcoins and other virtual currencies to the company's subsidiary

ChainCatcher news, according to Futu, Walnut Capital (00905.HK) announced that the company's executive director and controlling shareholder, Meng Pinwen, on May 30, entered into a gift deed with the company's wholly-owned subsidiary, Kulong Holdings, to irrevocably and unconditionally transfer, assign, and convey 170 million AFG tokens, 5.8 billion FOFO tokens, and 10 bitcoins to Kulong.

Walnut Capital plans to retain this batch of virtual currencies as reserves and may cash them out at an appropriate time. It will not recognize any income from this donation in its accounts, and will hold it as capital appreciation, which will be classified as intangible assets in the company's financial statements.