# Equity Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Equity", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

FTX schedules another $900M creditor payout, taking announced distributions past $9.7B

FTX will distribute about $900 million to eligible creditors on July 31, marking its fifth payout under its Chapter 11 plan. This brings total announced distributions across the second through fifth rounds to at least $9.7 billion, excluding an initial payment to Convenience Class creditors in February 2025. Following this distribution, cumulative payouts for Dotcom and U.S. Customer Entitlement Claims will reach 105%, General Unsecured and Digital Asset Loan Claims will hit 103%, and Convenience Claims will stand at 120%. The same day, $18 million will be paid to eligible preferred shareholders, bringing total distributions from that fund to $95 million. Creditors had to complete required steps by the June 16 record date to qualify.

ambcrypto3h ago

FTX schedules another $900M creditor payout, taking announced distributions past $9.7B

ambcrypto3h ago

1inch Co-founder Anton Bukov Leaves, Launches New Project Second Tier

Anton Bukov, co-founder of the decentralized exchange aggregator protocol 1inch, has announced his departure from the company's daily operations. Bukov, who was instrumental in designing core 1inch architectures like the Router, Fusion, and cross-chain Swap, ceased involvement in November 2025 due to strategic and leadership disagreements, though he retains his co-founder title and 50% equity stake. Concurrently, Bukov unveiled his new venture, Second Tier (tier.xyz), describing it as infrastructure to "shorten the distance between economic intent and on-chain execution." He explicitly stated it is not a DEX or aggregator. The project's public-facing material is currently a manifesto criticizing systemic financial friction and advocating for building new architectural categories rather than competing within existing ones. No product details, team, or funding have been disclosed. The split highlights a strategic divergence within 1inch. While CEO Sergej Kunz has steered the company toward traditional finance integration—evidenced by a 2025 brand refresh and a major Coinbase partnership—Bukov emphasized a commitment to decentralized, permissionless DeFi principles. Bukov's exit coincides with a challenging period for 1inch. Q1 2026 data shows a 60.3% quarterly drop in its daily average trading volume to $97.1 million, underperforming the broader DEX aggregator market decline. Its market share fell from 25.2% to 17.0%, dropping it to fourth place among competitors. Key questions remain regarding Bukov's future role as a major 1inch shareholder, the timeline for Second Tier's product development, and whether 1inch's institutional-focused strategy can reverse its declining trading metrics.

Foresight News19h ago

1inch Co-founder Anton Bukov Leaves, Launches New Project Second Tier

Foresight News19h ago

Buyback and Burn: Just Empty Promises? The Unbridgeable Rights Gap Between Tokens and Equity

"Token Repurchase and Burn: An Empty Promise? The Unbridgeable Rights Gap Between Tokens and Equity" Holding company stock grants shareholders residual claim rights - a legally enforceable entitlement to remaining assets after all other obligations are paid. This comes with rights like voting, dividends, and a share in sale proceeds. Crypto protocols have long promised token holders similar benefits: governance participation and a share of future growth. However, this narrative is fundamentally flawed and built on voluntary promises, not enforceable legal rights. The core difference is that token holders lack any legally enforceable claim to a protocol's underlying value or revenues. Common mechanisms like using protocol revenue to buy back and burn tokens are purely discretionary; the team can alter or stop the policy at any time. Token holders have no legal recourse. This rights gap becomes critically apparent when protocols introduce traditional equity alongside tokens, as seen with Venice AI's $65M funding round. Equity investors hold legal contracts with rights to company assets and profits, while token holders' benefits depend entirely on the continued goodwill of the protocol's management. The acquisition of Houdini Swap, where equity holders were paid while token holders received nothing, starkly illustrates this disparity. Upcoming legislation like the CLARITY Act threatens to eliminate the regulatory gray area that has allowed this ambiguous "pseudo-equity" narrative. The Act would classify tokens as either digital commodities (regulated by CFTC) or investment contract assets/securities (regulated by SEC). Protocols aiming for the "digital commodity" classification would be explicitly prohibited from granting token holders any legal claim to corporate revenue, profits, or assets. Promising that tokens will appreciate from protocol profits would likely classify them as securities. Projects like Aave are attempting technical solutions, such as its automated, on-chain "Aavenomics 3.0" buyback mechanism. However, this remains code that the governance body could still vote to change, not an immutable legal contract. The industry faces a clear fork: either acknowledge tokens as digital commodities and stop promising economic rights tied to corporate profits, or formally register tokens as securities and bear the associated compliance burden. The decade-long narrative equating tokens with ownership is built on unenforceable promises. The entry of traditional equity investors with real legal rights exposes this foundational weakness, which may unravel with the next major funding deal.

Foresight News07/14 11:03

Buyback and Burn: Just Empty Promises? The Unbridgeable Rights Gap Between Tokens and Equity

Foresight News07/14 11:03

Strategy raises $467M through MSTR share sales as cash reserve climbs to $3B

Strategy (through its ATM equity program) raised approximately $466.7 million by selling nearly 4.82 million MSTR shares, increasing its U.S. dollar cash reserve to $3.0 billion. Notably, the company made no Bitcoin purchases or sales during the period, leaving its holdings unchanged at 843,775 BTC. This equity-based fundraising, disclosed in a Form 8-K filing, sparked debate among investors and critics like Peter Schiff. They questioned why the company issued new shares—potentially diluting shareholders—instead of selling more Bitcoin, especially after recent BTC sales to fund dividends. The filing did not explain the rationale, but the move aligns with Strategy's long-standing approach of treating Bitcoin as a long-term treasury asset while using capital markets to meet financial obligations.

ambcrypto07/13 14:57

Strategy raises $467M through MSTR share sales as cash reserve climbs to $3B

ambcrypto07/13 14:57

Tokenized Equity Is Unbundling Venture Capital's One-Stop-Shop Financing Business

Tokenized Equity Splits VC's One-Stop Financing Business The article explores how tokenizing company shares on the blockchain fundamentally reshapes the venture capital model. Traditionally, a VC's term sheet is a bundled service providing capital, valuation, curation/signaling, network access, governance, and implied follow-on funding. Tokenized equity, where shares are natively issued and registered on-chain, enables the unbundling of these services. Securitize exemplified this by listing on the NYSE while simultaneously issuing its native stock tokens on Solana and Avalanche. This creates continuous liquidity and price discovery, allowing startups to source services separately. Market-based platforms can handle funding and valuation; specialized service providers manage cap tables, token vesting, and programmable governance; and key individuals or smaller funds can offer brand credibility and network access. While this unbundling commoditizes transactional and administrative functions, core VC value persists in areas resistant to digitization: deep value judgment, strategic guidance, and using personal reputation to attract talent, customers, and future investors. Just as record labels survived by focusing on A&R (artist discovery) after music distribution was digitized, VCs will evolve to specialize in the nuanced, human-centric aspects of startup building. Founders gain the freedom to choose which services to source from the market versus which to obtain from trusted partners, fundamentally changing early-stage decision-making.

Foresight News07/13 07:17

Tokenized Equity Is Unbundling Venture Capital's One-Stop-Shop Financing Business

Foresight News07/13 07:17

When the Largest BTC Buyer Becomes a Seller, Who's Buying After MicroStrategy Sells 3,588 Bitcoin?

MicroStrategy, once the largest corporate buyer of Bitcoin, sold 3,588 BTC for approximately $216 million to fund its preferred stock dividends, marking a significant shift from buyer to seller. This move occurred after its market-to-NAV premium vanished, breaking its "print stock to buy Bitcoin" financial model. A roundtable discussion featuring Austin Campbell, Ram Ahluwalia, and Chris Perkins analyzed the implications. They noted that MicroStrategy's dominance has become a narrative bottleneck for the broader crypto market, with some speculating that Bitcoin's price might only surge significantly after the company's influence wanes. The conversation expanded to examine the capital structure conflict between traditional equity and crypto tokens, arguing that most current tokens will fail as they don't fit neatly into existing debt/equity frameworks. A "stablecoin war" was identified as a major trend, with entities like Tether, Robinhood, and the OUSD alliance competing. Tether's decision to abandon the European MiCA market highlights strategic divergences. The panelists argued that bank-issued stablecoins could revolutionize global finance by allowing US banks to capture net interest margins from international transactions, potentially making JPMorgan the first trillion-dollar bank. They concluded that while capital is currently being siphoned by AI/semiconductors, markets will eventually refocus on fundamentals and cash flow, which could benefit cryptocurrencies with real utility.

marsbit07/08 06:02

When the Largest BTC Buyer Becomes a Seller, Who's Buying After MicroStrategy Sells 3,588 Bitcoin?

marsbit07/08 06:02

OpenAI Proposes Transferring 5% Equity to the U.S. Government

OpenAI has reportedly proposed to sell 5% of its equity to the U.S. government, a stake valued at over $40 billion based on its $852 billion valuation. According to the Financial Times, CEO Sam Altman has engaged in preliminary discussions with senior officials, including the Commerce and Treasury Secretaries, framing public ownership as a way for Americans to share in AI's economic benefits. The proposal includes a broader vision where other major U.S. AI companies like Anthropic, Google, and Meta would contribute a similar percentage of their equity to a public investment vehicle, modeled on the Alaska Permanent Fund, to distribute dividends to citizens. However, there is no indication of interest from these rivals. This move is seen as an attempt to navigate increasing regulatory pressure and scrutiny over AI safety and societal impact. It contrasts with more radical proposals, such as one from Senator Bernie Sanders advocating for up to 50% public ownership. While the discussions are conceptual and would likely require congressional action, they signify a strategic shift: OpenAI is offering a financial stake to align government interests and potentially secure a more stable regulatory relationship ahead of a possible future IPO. The outcome could reshape how AGI development is governed and who benefits from its profits.

marsbit07/06 01:05

OpenAI Proposes Transferring 5% Equity to the U.S. Government

marsbit07/06 01:05

Manus Buyback Plan Emerges: Chinese Investors Plan to Repurchase Equity with $2 Billion, Path to Hong Kong IPO Becomes Clearer

According to a report by The Information, early Chinese investors of Manus, including Tencent, Sequoia Capital China, and ZhenFund, are planning to repurchase the company from Meta for $2 billion—the same price Meta paid in its acquisition last December. This move is a direct response to the Chinese government's prohibition of the foreign acquisition in April. As part of the repurchase plan, Manus is considering establishing a Sino-foreign joint venture within China. This structure is seen as a way to ensure regulatory compliance for its Chinese investors and to pave the way for a future IPO in Hong Kong. Notably, U.S. investor Benchmark will not participate in the buyback, which will concentrate ownership even more among Chinese capital. Since its acquisition by Meta, Manus's business has grown rapidly, with its annualized revenue run rate reportedly increasing four-to-fivefold to $400-$500 million in roughly six months. This strong growth underpins the investors' willingness to repurchase at the original price. Financially, the forced unwinding of the deal may benefit the early investors, allowing them to regain equity at a cost far below the company's current implied valuation, with the added prospect of an independent future listing. However, specific terms of the repurchase, including funding proportions and the joint venture's equity structure, are still under negotiation. This "repurchase-joint venture-Hong Kong IPO" approach could serve as a reference model for other Chinese AI startups navigating cross-border M&A regulations.

marsbit06/19 10:28

Manus Buyback Plan Emerges: Chinese Investors Plan to Repurchase Equity with $2 Billion, Path to Hong Kong IPO Becomes Clearer

marsbit06/19 10:28

Backpack Surges Over 150% in Half a Month

BP, the token of the Backpack exchange, has surged over 150% since early June, driven by the platform's expansion into regulated US stock brokerage and asset tokenization services. On June 2nd, Backpack announced Backpack Securities, offering traditional stock trading and tokenization, causing BP's price to jump over 80%. Momentum continued on June 12th with the launch of SPCX, a tokenized product for SpaceX stock on Solana, facilitating seamless conversion between traditional securities and on-chain assets. This aligns with the RWA (Real World Assets) narrative, creating a bridge between traditional finance and Solana DeFi. The token's unique economics also support its growth. All 2.5 billion initially circulating tokens were airdropped to the community, with zero allocation to the team or investors at launch. A key feature allows users who stake BP for at least one year to gain the right to convert tokens into company equity upon an IPO or acquisition. Despite some initial community controversy over airdrop distribution, focus is shifting to BP's long-term utility and value alignment as real products launch.

marsbit06/15 12:10

Backpack Surges Over 150% in Half a Month

marsbit06/15 12:10

BP Price Soars 300% in 2 Weeks: What Is Backpack Betting On?

"BP, the native token of the Backpack exchange, surged over 300% in two weeks to $0.475, driven by the launch of its new regulated stock brokerage and asset tokenization arm, Backpack Securities. The platform enables users to trade U.S. stocks and tokenize them on Solana, with the SpaceX tokenized stock (SPCX) generating significant on-chain volume. This expansion into bridging traditional finance with DeFi aligns with the RWA narrative. BP's unique tokenomics, where 25% was airdropped at TGE with zero allocation to the team, and a staking mechanism allowing conversion to equity upon a company IPO, underpins its value proposition. Over 66% of the circulating supply is currently staked."

Foresight News06/15 08:00

BP Price Soars 300% in 2 Weeks: What Is Backpack Betting On?