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first_img SEC updates cryptocurrency FAQ, stating that token buybacks and network upgrades do not necessarily constitute securities

The U.S. Securities and Exchange Commission's Division of Corporation Finance updated its frequently asked questions document on cryptocurrency assets on Friday, clarifying that token buybacks, network upgrades, and marketing promotions do not automatically make cryptocurrency assets securities. The division stated that announcing a buyback plan for an already functioning cryptocurrency network does not, by itself, make the associated tokens constitute an investment contract; however, for networks that are not yet operational, if the issuer promotes the buyback as a source of returns for holders, this conclusion may not necessarily apply.Regarding the ongoing development issues of cryptocurrency projects after their launch, the document pointed out that once a cryptocurrency system is operational, services used to protect, maintain, improve, or enhance that system and its functions, or to promote network effects, do not fall under the managerial efforts referred to in the Howey test. The existing uses of marketing networks generally do not create profit expectations, and statements regarding future functionalities are similarly true, provided that profit potential is not promoted. The document reiterated that specific judgments still heavily depend on the actual circumstances of each case.This document is based on the interpretive guidance issued by the SEC in March of this year regarding the application of securities laws to cryptocurrency assets, released just weeks after the Clarity Act failed to advance in the Senate, with regulators continuing to operate under existing laws. Additionally, the U.S. Commodity Futures Trading Commission updated its cryptocurrency FAQs on Thursday, stating that futures companies and clearinghouses may invest customer funds in tokenized versions of previously permitted assets, provided that investment and custody requirements are met; regulated companies may use blockchain for record-keeping but must be able to provide relevant records when the blockchain or its block explorer is not operational.

first_img Bitget updates on the security incident progress: the stolen amount is revised to 387.5 million USD, and the withdrawal recovery time will be announced before 12 PM tomorrow

Bitget TradFi Chief Growth Officer Xie Jiayin issued an update on the platform's security incident, stating that the withdrawal time will be announced before noon tomorrow. The security team has identified the hacker's attack path and methods, and has grasped the details of how the attacker bypassed security measures, coming very close to tracing the source of the attack. The incident investigation by third-party security teams Mandiant and SlowMist is still ongoing, with a detailed report pending from the security team.On-chain tracking confirms that approximately $387.5 million has been transferred to the hacker's address, previously estimated at $351.6 million. This revision includes ZEC and TRX, and no other unauthorized transfers have been found. Xie Jiayin stated that the stolen funds at the platform level will be fully covered by the Bitget User Protection Fund, ensuring that user assets are not subject to any losses.Bitget has officially launched a fund recovery bounty program, offering a 5% bounty for voluntarily freezing the attacker’s funds and a 5% bounty for voluntarily recovering funds. The bounty also applies to assistance already provided. The platform has published the attacker's address, a real-time tracking dashboard, and a submission portal, with relevant information also available for submission through Bybit's Lazarus bounty platform.

AIA Ecosystem Fund: Four updates on the AIA ecosystem, including the official launch of products, promoting the alignment of token and equity value, etc

According to official news, the AIA Ecosystem Fund announced four updates to the AIA ecosystem, including the official launch of products, alignment of token and equity value, execution of token burn and unlock as planned, and the invalidation of unallocated tokens for dismissed members.In terms of products, the AI Token Smart Router under DeAgentAI was officially launched to the public today, providing unified access to DeAgentAI's proprietary models and 38 mainstream third-party models, supporting model routing, API calls, and usage measurement. Since the internal testing, the platform has served 8 top domestic and international large model clients, processing over 54 million external model calls, with monthly revenue exceeding one million dollars.Regarding the alignment of token and equity value, the AIA Ecosystem Fund stated that all revenue generated from products and business lines under DeAgentAI, as well as related intellectual property and value, will exclusively belong to the foundation and be governed by $AIA holders, with equity investors no longer entitled to residual cash flow. Additionally, the previously disclosed buyback has been fully completed, and the repurchased tokens will be burned as planned.The AIA Ecosystem Fund also stated that the one-year lock-up period for investors, team members, and advisors has ended, entering a three-year linear release period, consistent with the arrangements disclosed at launch; community, ecosystem, and staking shares will still be executed according to the original schedule.The shares of former employees who left normally will be distributed as agreed, but some former team members previously engaged in serious illegal activities. The AIA Ecosystem Fund clearly stated a zero-tolerance policy for any actions that harm the interests of the project and community. Any team member dismissed due to misconduct or harm to project interests will have their unallocated $AIA immediately invalidated, and the company reserves the right to pursue criminal liability.

Huobi HTX updated the September Merkle Tree reserve proof, with mainstream asset reserve ratios exceeding 100%

According to the latest Merkle Tree Proof of Reserves (PoR) data from Huobi HTX, as of September 1, 2026 (UTC+8), the reserve ratios of various mainstream assets on the platform remain above 100%, continuously ensuring the safety of user assets with sufficient reserves and committing to 100% redemption, ensuring that users can trade and withdraw at any time. As one of the earlier platforms in the industry to continuously disclose Merkle Tree Proof of Reserves, Huobi HTX has publicly disclosed PoR data for 47 consecutive months, enhancing platform transparency in a long-term and verifiable manner.The specific updated reserve ratios are as follows: BTC (104%), ETH (102%), TRX (109%), USDs (102%), HTX (103%), XRP (104%), DOGE (101%), SOL (103%). Users can visit the "Assets - Proof of Reserves Report" page on the Huobi HTX official website to view.It is worth mentioning that starting from April this year, to further enhance the visual representation of US dollar asset reserve data, Huobi HTX has unified and aggregated USDT, USDC, and other US dollar stablecoins as "USDs" for display. The asset data of each currency remains independently recorded and verified to ensure that the reserve information is authentic, clear, and traceable.In the future, Huobi HTX will continue to adhere to the 1:1 reserve principle, using verifiable data, traceable on-chain assets, and a regular information disclosure mechanism to continuously enhance asset transparency, allowing users to see reserves, verify assets, and use them with greater peace of mind.
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