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august

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Article
Flash

BitMart employees publicly speak out: demand disclosure of platform asset status and repayment plan before August 19

Regarding the issues of BitMart users' asset withdrawal restrictions and employees' unpaid salaries and compensations, employees of the platform publicly called on BitMart's management and relevant responsible parties to respond publicly by August 19 regarding the whereabouts of user assets, the platform's reserve situation, the reasons for withdrawal restrictions, and employee salary compensations. The open letter pointed out that a large number of users are still unable to withdraw their assets normally, and some employees have not received their last month's salary and due compensation; against this backdrop, if the platform only responds with announcements such as "ceasing operations," it cannot resolve the actual problems faced by users and employees. Relevant individuals requested that BitMart publicly disclose wallet, asset, liability, and available reserve information that can be verified by third parties, and explain when the platform became aware of the funding and withdrawal issues, who made the relevant decisions, and whether it continued to encourage users to redeem or trade despite being aware of the risks.The open letter also called for an investigation into related accounts, affiliated companies, trusts, and other funding arrangements associated with BitMart user assets, and specifically requested that the founder's partner provide explanations regarding their related accounts and funding situation. The open letter stated that there is currently information pending further verification indicating that BitMart accounts related to the founder's partner may have held assets worth tens of millions of dollars and have records of batch withdrawals; relevant individuals emphasized that no criminal characterization will be made against any individual until evidence is fully verified, but they demanded public clarification on whether the aforementioned accounts exist, asset ownership, sources of funds, transfer directions, and whether there is any connection with BitMart user assets, and called for an independent investigation into the relevant fund flows. At the same time, the open letter requested that BitMart promptly settle the salaries and compensations owed to employees, asserting that ordinary employees should not bear the consequences of management's operational decisions.In addition, the open letter requested that BitMart publish a user repayment plan with a clear execution timeline by August 19, including the scale of remaining assets, total liabilities, expected recovery ratio for users, repayment order, start and completion times, and supervision mechanisms, and explicitly stated acceptance of third-party independent audits. The open letter indicated that if a complete, transparent, and verifiable asset explanation and repayment plan are not obtained by then, they will consider submitting existing materials, funding clues, and relevant evidence to law enforcement agencies, regulatory authorities, lawyers, and the media in various locations to promote further investigation.

The Hyperliquid USDC reserve income sharing mechanism will launch on August 26, with an expected annual contribution of $200 million to buy back HYPE

The AQAv2 stablecoin model protocol of Hyperliquid has previously received support from 19 out of 26 validators, and the relevant mechanism is expected to officially start accruing yields on August 26. Meanwhile, Circle has transferred approximately $4.4 billion USDC to Coinbase via the AQAv2 mechanism on HyperEVM, setting a record for the largest single USDC transfer on HyperEVM.If everything proceeds as planned, the yields generated by AQAv2 will begin accruing on August 26, with the first payment expected to enter the Assistance Fund on October 3. AQAv2 (Aligned Quote Asset v2) is a stablecoin mechanism announced by Hyperliquid in May this year, allowing stablecoins, including USDC, which are not exclusively issued by Hyperliquid, to qualify as "Aligned." According to public information, most of the stablecoin yields from AQAv2 will be returned to the Hyperliquid ecosystem, with 90% of the yields allocated to the relevant mechanism, and subsequently, 100% used for the buyback and destruction of HYPE tokens.Coinbase has been designated as the fund deployment party, while Circle is responsible for technical deployment, and both parties will also stake HYPE to participate in the mechanism. The mechanism previously required stablecoins to be exclusive assets of Hyperliquid, but AQAv2 has removed this restriction and will focus on the HIP-4 standardized market and the perpetual contract market operated by validators. According to relevant public disclosures, AQAv2 is expected to generate up to approximately $200 million in revenue and further enhance token value capture through the HYPE buyback and destruction mechanism.

BNB Chain will launch the Pasteur hard fork on August 25

BNB Smart Chain (BSC) announced that the Pasteur hard fork will officially launch on the mainnet at 10:30 AM Beijing time on August 25 (02:30 UTC on August 25). Node operators need to upgrade to client version v1.7.7 in advance. This upgrade includes three improvements: BEP-682, BEP-695, and BEP-675, focusing on enhancing cross-chain security, validator governance mechanisms, and network throughput capacity.Among them, BEP-682 will strengthen the cross-chain bridge validation mechanism of the BNB Chain, preventing the risk of permission bypass caused by duplicate calculations of validator signatures, thus improving the security of cross-chain asset transfers. BEP-695 optimizes the validator key rotation mechanism, ensuring that old keys no longer retain management permissions after exiting, while also fixing potential vulnerabilities related to penalties and governance voting. In terms of performance, BEP-675 reduces the time consumption caused by validators repeatedly executing transactions by optimizing the block construction process.In the internal QANet testing environment of the BNB Chain, this solution increased throughput from 1237 TPS to 2324 TPS, while maintaining a block time of 450 milliseconds and a block limit of 100 million Gas, with the average Gas usage per block rising from 46.35 million to 84.15 million.BNB Chain stated that this upgrade is primarily aimed at validators and block builders, intending to provide greater capacity during network peak periods and to promote the throughput expansion goals outlined in the BNB Chain roadmap for the second half of 2026.
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