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Cloud computing company Megaspeed responds to the Jensen Huang incident, hiring a U.S. law firm to review GPUs

In the Huang Renxun incident, the involved company Megaspeed International officially announced that it attaches great importance to complying with U.S. export control laws, stating that compliance is the company's top priority, and it is committed to constructive and transparent cooperation with the U.S. government.Megaspeed has cooperated with the U.S. Department of Commerce's Bureau of Industry and Security (BIS) inspections and is ready to fully cooperate with other relevant U.S. government agencies at any time. To further strengthen its compliance commitment, Megaspeed has hired a well-known U.S. law firm to lead a comprehensive inventory of the company's graphics processing units (GPUs) and independently verify the company's export control compliance practices. Megaspeed stated that it welcomes appropriate government oversight and will demonstrate through concrete actions that the company operates in a responsible and transparent manner while complying with applicable U.S. laws.Megaspeed is a cloud computing and data center company registered in Singapore and is an important customer of NVIDIA. The New York Times previously cited trade data reporting that from June 2024 to February 2026, Megaspeed's affiliated company in Malaysia procured advanced AI servers and other equipment, including NVIDIA chips and related products. Huang Le previously served as the CEO and chairman of the board of Megaspeed and is one of the main controllers; she has appeared alongside Huang Renxun multiple times at public business events.

first_img Gemini's revenue in the third quarter fell to 40.9 million USD, with trading volume decreasing by 73% year-on-year

Cryptocurrency exchange Gemini announced its third-quarter financial report, with total revenue for the quarter at $40.9 million, a year-over-year decrease of 19% and a quarter-over-quarter decrease of 10%, compared to $50.6 million in the same period last year. The net loss narrowed to $58.6 million, down from nearly $160 million in the same period last year and $107.7 million in the second quarter. After the financial report was released, Gemini Space Station Inc. (GEMI) saw its stock price rise 6.5% in after-hours trading to $2.79, but the cumulative decline for the year remains around 75%.The trading business is under significant pressure. Affected by the drop in trading volume from $16.4 billion in the same period last year to $4.5 billion, exchange business revenue fell 47% to $13.4 million, although trading volume increased by 18% quarter-over-quarter. Revenue from credit card operations decreased by 4% quarter-over-quarter to $15.5 million, while platform assets grew from $8.4 billion in the second quarter to $13.4 billion. Operating expenses decreased by 30% year-over-year to approximately $120 million. CEO Tyler Winklevoss stated that operating expenses have decreased for the third consecutive quarter, maintaining spending discipline while investing in growth.Forecasting market operations became a highlight, contributing $800,000 in revenue for the quarter, a quarter-over-quarter increase of 52%. The company is pushing to open its exchange and clearinghouse to brokers wishing to offer event contracts and signed a letter of intent with Apex Fintech Solutions in August to provide cryptocurrency event contracts, although this deal has not yet been finalized. President Cameron Winklevoss stated that Gemini 2 bets on platforms that can sustain themselves long-term will control the underlying regulated infrastructure.

Tether Gold completed an audit by the Big Four accounting firms, with reserve gold valued at 2.246 billion USD

Tether announced that KPMG U.S. has completed an independent audit of the financial statements of TG Commodities, the issuer of Tether Gold (XAU₮), as of December 31, 2025, and issued an unqualified opinion. The audit shows that XAU₮ is fully backed by physical gold. This is the second stablecoin under Tether to complete an audit by one of the Big Four accounting firms, following Tether International, the issuer of USDT, in August of this year.During the audit, KPMG conducted a physical count and verification of each gold bar backing XAU₮, rather than relying solely on confirmations from custodians. As of December 31, 2025, TG Commodities holds 520,089.350 ounces of pure gold, valued at $2.246 billion, corresponding to the issued 520,089.300 XAU₮.The gold is stored in Swiss vaults and meets the London Good Delivery standards, with ownership belonging to the token holders, where each token corresponds to an indivisible ownership of specific gold bars. The company also hires an independent third party to conduct quarterly sampling tests of the gold bars.CEO Paolo Ardoino stated that XAU₮ is expected to become the first true competitor in the gold ETF market, as gold can be settled instantly, with lower custody costs and higher transparency. CFO Simon McWilliams mentioned that auditing the largest and most complex USDT and XAU₮ is paving the way for a comprehensive audit of the entire company.
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