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mission

Bittensor co-founder responds to Covenant AI's accusations: no authority to suspend subnet emissions, and the amount sold is less than 1% of the investment

Bittensor co-founder Const (@const_reborn) responded on Twitter to recent allegations regarding Covenant AI. Const stated that he has no authority to pause emissions, and that the previous sale of a portion of alpha positions in three subnetworks was because these subnetworks were not operational and were in a high ratio of code destruction state. The impact of this transaction on emissions is consistent with the buying and selling behavior of ordinary TAO holders, and he does not enjoy any special privileges.Regarding management authority, Const clarified that it was Samuel himself who abandoned his Discord channel, and he did not remove his administrator role; he only temporarily restricted his ability to delete posts that honestly criticize and then restored it. Additionally, he emphasized that the scale of the token sell-off was less than 1% of his total investment in the team, and stated that exercising the rights to buy and sell tokens under the dTao system is fundamental to supporting the operation of the system.According to previous reports from ChainCatcher, the main subnetwork developer on Bittensor, Covenant AI, announced its withdrawal from Bittensor. Covenant AI founder Sam Dare stated that the reason Bittensor attracts builders, miners, validators, and investors into this ecosystem is because of its promise not to be controlled by any single entity. But this promise is a lie.

Hong Kong Securities and Futures Commission: The total market value of 11 virtual asset ETFs has exceeded HKD 5.4 billion, and the scale of recognized tokenized funds has reached HKD 8.66 billion

The Hong Kong Securities and Futures Commission released the Q4 2025 report, which pointed out that the Hong Kong Securities and Futures Commission has officially become a member of the Hong Kong Police Force's Virtual Assets Intelligence Working Group, with strategic innovation promoting the continuous growth of Hong Kong's listed and digital asset markets.In terms of digital assets, the Hong Kong Securities and Futures Commission recognized that the asset management scale of tokenized retail money funds has grown to HKD 8.66 billion (USD 1.11 billion) since its launch in 2025, with a quarterly increase of 14% as of last December; additionally, since the launch of Asian virtual asset spot exchange-traded funds in the market in 2024, a total of 11 such ETFs have been listed in Hong Kong, with a total market value increasing by 142% to over HKD 5.4 billion (USD 702 million) since their listing. As of last December, the total market value of ETFs and leveraged and inverse products recognized by the Hong Kong Securities and Futures Commission surged by 33.7% year-on-year to HKD 618.7 billion.Furthermore, the net inflow of funds for funds registered in Hong Kong surged by 118.5% year-on-year to HKD 356.7 billion in 2025. As of last December, the assets under management of these funds grew by 38.3% year-on-year to HKD 22.8 trillion, while the total number of funds increased by 9.1% year-on-year to 1,041.

US SEC Commissioner suggests cautiously advancing the innovation exemption for tokenized securities and raises key issues such as information disclosure systems

Hester M. Peirce, a commissioner of the U.S. Securities and Exchange Commission, stated that a research initiative for a "regulatory exemption" for tokenized securities has been launched, allowing limited trading and technical experimentation for certain tokenized securities. This exemption plan will be more cautious than the "comprehensive exemption" proposed by the industry.She believes it is worth exploring whether different types of tokenization models for securities can be tested under the innovation exemption framework and whether issuer consent is needed for third parties to issue tokenized versions of their stocks, in order to promote technological innovation while avoiding regulatory arbitrage and maintaining core investor protection mechanisms.Hester M. Peirce also emphasized that regulators should not overly interfere with private capital allocation. The SEC is currently assessing several key issues, including: whether the existing information disclosure system is sufficient to cover the ownership structure of tokenized securities, the disclosure obligations of brokers and clearing agencies in the issuance of tokenized securities, the compatibility of atomic settlement with the current T+1 settlement rules, and the applicability of regulatory authority in the absence of intermediaries or under new intermediary structures.

Vitalik interprets the Ethereum Foundation's new mission statement: to double down on Ethereum and promote it as a "technological safe haven."

Vitalik Buterin posted on the X platform to interpret the Ethereum Foundation's new mission statement, "EF Mandate." He expressed that he will double down on Ethereum and is full of expectations for its future development.Vitalik Buterin pointed out that Ethereum has a unique role in the global digital ecosystem, with its mission being to become a "sanctuary technology" to maintain technological self-sovereignty and promote collaboration in a non-coercive, non-dominant environment. The core goal of Ethereum is to ensure that no individual, organization, or ideology can achieve absolute control in cyberspace and to provide users with an "exit mechanism." The Ethereum Foundation, as the "guardian" of the network, will continue to focus on advancing the CROPS principles, which include censorship resistance and anti-capture, open source, privacy, and security. It will prioritize decentralization, verifiability, network activity, and security at the protocol level while promoting capability upgrades such as account abstraction to reduce reliance on intermediaries.At the application layer, the Ethereum Foundation will strive to create a "zero option" user experience that balances security, privacy, and user autonomy, complementing broader ecosystem projects to jointly promote the development of the Ethereum ecosystem.
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