The post Tether hasn’t saved this OOB stock from a 99.9% YTD loss appeared on BitcoinEthereumNews.com. If an investor were to read the SEC filings of VCI Global, they may find it difficult to understand its risky ties to Tether and Solana. Amid a sort of information vacuum and other executive disappointments in 2025, holding shares of VCI Global since their open of trading on a “100 million OOB token digital-asset-treasury transaction” announcement would have earned a 31% loss in less than four weeks. Longer term shareholders have performed even worse. Anyone’s investment since the start of the year has suffered a catastrophic, 99.9% loss. Year-to-date chart of VCI Global. Source: TradingView Oobit (OOB) is a tap-to-pay app that uses its proprietary token as well as stablecoins like Tether (USDT) for mobile device payments. VCI Global is a microcap Nasdaq stock with a market capitalization in the single-digit millions and a float of less than 24,000 shares. The company is based in Kuala Lumpur, Malaysia, and apparently has a problem with CEO impersonation fraud, according to a prominent notice on the company’s homepage. That’s just the beginning of its problems. On November 26, the company claimed to have acquired 4,174,603 additional OOB tokens “from the open market,” yet that disclosure refrained from mentioning that it acquired the vast majority of its OOB without any purchases, devoid of market forces from exchange listings of OOB. Specifically, the company already owned 250 million OOB tokens — priced before the token was trading on Kraken or other major exchanges. Its 4.1 million token purchase at $0.24 was merely an investment of $1 million. The company characterized the tiny purchase and 1.6% increase as the “initial phase of our US$50 million accumulation plan.” Focusing on what actually matters, 98.4% of the company’s OOB holdings were transferred by investors who received 50 million shares worth of VCI Global stock and pre-funded, immediately… The post Tether hasn’t saved this OOB stock from a 99.9% YTD loss appeared on BitcoinEthereumNews.com. If an investor were to read the SEC filings of VCI Global, they may find it difficult to understand its risky ties to Tether and Solana. Amid a sort of information vacuum and other executive disappointments in 2025, holding shares of VCI Global since their open of trading on a “100 million OOB token digital-asset-treasury transaction” announcement would have earned a 31% loss in less than four weeks. Longer term shareholders have performed even worse. Anyone’s investment since the start of the year has suffered a catastrophic, 99.9% loss. Year-to-date chart of VCI Global. Source: TradingView Oobit (OOB) is a tap-to-pay app that uses its proprietary token as well as stablecoins like Tether (USDT) for mobile device payments. VCI Global is a microcap Nasdaq stock with a market capitalization in the single-digit millions and a float of less than 24,000 shares. The company is based in Kuala Lumpur, Malaysia, and apparently has a problem with CEO impersonation fraud, according to a prominent notice on the company’s homepage. That’s just the beginning of its problems. On November 26, the company claimed to have acquired 4,174,603 additional OOB tokens “from the open market,” yet that disclosure refrained from mentioning that it acquired the vast majority of its OOB without any purchases, devoid of market forces from exchange listings of OOB. Specifically, the company already owned 250 million OOB tokens — priced before the token was trading on Kraken or other major exchanges. Its 4.1 million token purchase at $0.24 was merely an investment of $1 million. The company characterized the tiny purchase and 1.6% increase as the “initial phase of our US$50 million accumulation plan.” Focusing on what actually matters, 98.4% of the company’s OOB holdings were transferred by investors who received 50 million shares worth of VCI Global stock and pre-funded, immediately…

Tether hasn’t saved this OOB stock from a 99.9% YTD loss

2025/12/05 04:17

If an investor were to read the SEC filings of VCI Global, they may find it difficult to understand its risky ties to Tether and Solana.

Amid a sort of information vacuum and other executive disappointments in 2025, holding shares of VCI Global since their open of trading on a “100 million OOB token digital-asset-treasury transaction” announcement would have earned a 31% loss in less than four weeks.

Longer term shareholders have performed even worse. Anyone’s investment since the start of the year has suffered a catastrophic, 99.9% loss.

Year-to-date chart of VCI Global. Source: TradingView

Oobit (OOB) is a tap-to-pay app that uses its proprietary token as well as stablecoins like Tether (USDT) for mobile device payments.

VCI Global is a microcap Nasdaq stock with a market capitalization in the single-digit millions and a float of less than 24,000 shares.

The company is based in Kuala Lumpur, Malaysia, and apparently has a problem with CEO impersonation fraud, according to a prominent notice on the company’s homepage.

That’s just the beginning of its problems. On November 26, the company claimed to have acquired 4,174,603 additional OOB tokens “from the open market,” yet that disclosure refrained from mentioning that it acquired the vast majority of its OOB without any purchases, devoid of market forces from exchange listings of OOB.

Specifically, the company already owned 250 million OOB tokens — priced before the token was trading on Kraken or other major exchanges. Its 4.1 million token purchase at $0.24 was merely an investment of $1 million.

The company characterized the tiny purchase and 1.6% increase as the “initial phase of our US$50 million accumulation plan.”

Focusing on what actually matters, 98.4% of the company’s OOB holdings were transferred by investors who received 50 million shares worth of VCI Global stock and pre-funded, immediately exercisable warrants.

Tether’s PIPE gets the cheap price on OOB

Those 250 million tokens were favorably priced at $0.20 — 73% lower than their $0.73 high within a 48-hour period of that headline. 

Brazenly, the company claimed that this 250 million token transfer “paid” — with no actual cash transaction nor placement agent — for VCI Global’s entire $50 million Private Investment in Public Equity (PIPE).

On the other side of that deal, Tether Investment Limited received 39.8% of the PIPE shares. 

Straddling both sides of the deal, Tether is also a top investor in OOB, leading its Series A fundraise, alongside Solana co-founder Anatoly Yakavenko.

In other words, an entity agreeing to the pricing of the OOB tokens was the same entity receiving the majority of the PIPE shares.

Read more: Tether took over the White House, now it’s tearing it down to build a ballroom

This whole thing relies on Kraken keeping OOB up for trading

According to Cory Klippsten, a Tether critic who has been involved in litigation against the stablecoin giant, “This structure lets an effective change of control happen without triggering a 13D.”

Klippsten characterized the lack of VCI Global’s SEC Form 13D plus other factors “a possible material breach of SEC Rule 12b-20.”

Protos doesn’t have a view on that allegation, and only a US securities attorney could provide advice regarding those forms.

The timing, pricing, and catering of both sides of the deal to related parties is certainly interesting. Kraken and other exchanges like KCEX activated trading pairs of the OOB token within 48 hours of the November 10 VCI Global deal.

In fact, a substantial portion of the deal explicitly relies on Kraken’s OOB trading pair staying up and operational.

If Kraken suspends or withdraws its OOB listing within six months, VCI Global “shall have the right to rescind this agreement” by returning OOB and reversing the VCI Global shares issued.

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Source: https://protos.com/tether-hasnt-saved-this-oob-stock-from-a-99-9-ytd-loss/

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Akash Network’s Strategic Move: A Crucial Burn for AKT’s Future

Akash Network’s Strategic Move: A Crucial Burn for AKT’s Future

BitcoinWorld Akash Network’s Strategic Move: A Crucial Burn for AKT’s Future In the dynamic world of decentralized computing, exciting developments are constantly shaping the future. Today, all eyes are on Akash Network, the innovative supercloud project, as it proposes a significant change to its tokenomics. This move aims to strengthen the value of its native token, AKT, and further solidify its position in the competitive blockchain space. The community is buzzing about a newly submitted governance proposal that could introduce a game-changing Burn Mint Equilibrium (BME) model. What is the Burn Mint Equilibrium (BME) for Akash Network? The core of this proposal revolves around a concept called Burn Mint Equilibrium, or BME. Essentially, this model is designed to create a balance in the token’s circulating supply by systematically removing a portion of tokens from existence. For Akash Network, this means burning an amount of AKT that is equivalent to the U.S. dollar value of fees paid by network users. Fee Conversion: When users pay for cloud services on the Akash Network, these fees are typically collected in various cryptocurrencies or stablecoins. AKT Equivalence: The proposal suggests converting the U.S. dollar value of these collected fees into an equivalent amount of AKT. Token Burn: This calculated amount of AKT would then be permanently removed from circulation, or ‘burned’. This mechanism creates a direct link between network utility and token supply reduction. As more users utilize the decentralized supercloud, more AKT will be burned, potentially impacting the token’s scarcity and value. Why is This Proposal Crucial for AKT Holders? For anyone holding AKT, or considering investing in the Akash Network ecosystem, this proposal carries significant weight. Token burning mechanisms are often viewed as a positive development because they can lead to increased scarcity. When supply decreases while demand remains constant or grows, the price per unit tends to increase. Here are some key benefits: Increased Scarcity: Burning tokens reduces the total circulating supply of AKT. This makes each remaining token potentially more valuable over time. Demand-Supply Dynamics: The BME model directly ties the burning of AKT to network usage. Higher adoption of the Akash Network supercloud translates into more fees, and thus more AKT burned. Long-Term Value Proposition: By creating a deflationary pressure, the proposal aims to enhance AKT’s long-term value, making it a more attractive asset for investors and long-term holders. This strategic move demonstrates a commitment from the Akash Network community to optimize its tokenomics for sustainable growth and value appreciation. How Does BME Impact the Decentralized Supercloud Mission? Beyond token value, the BME proposal aligns perfectly with the broader mission of the Akash Network. As a decentralized supercloud, Akash provides a marketplace for cloud computing resources, allowing users to deploy applications faster, more efficiently, and at a lower cost than traditional providers. The BME model reinforces this utility. Consider these impacts: Network Health: A stronger AKT token can incentivize more validators and providers to secure and contribute resources to the network, improving its overall health and resilience. Ecosystem Growth: Enhanced token value can attract more developers and projects to build on the Akash Network, fostering a vibrant and diverse ecosystem. User Incentive: While users pay fees, the potential appreciation of AKT could indirectly benefit those who hold the token, creating a circular economy within the supercloud. This proposal is not just about burning tokens; it’s about building a more robust, self-sustaining, and economically sound decentralized cloud infrastructure for the future. What Are the Next Steps for the Akash Network Community? As a governance proposal, the BME model will now undergo a period of community discussion and voting. This is a crucial phase where AKT holders and network participants can voice their opinions, debate the merits, and ultimately decide on the future direction of the project. Transparency and community engagement are hallmarks of decentralized projects like Akash Network. Challenges and Considerations: Implementation Complexity: Ensuring the burning mechanism is technically sound and transparent will be vital. Community Consensus: Achieving broad agreement within the diverse Akash Network community is key for successful adoption. The outcome of this vote will significantly shape the tokenomics and economic model of the Akash Network, influencing its trajectory in the rapidly evolving decentralized cloud landscape. The proposal to introduce a Burn Mint Equilibrium model represents a bold and strategic step for Akash Network. By directly linking network usage to token scarcity, the project aims to create a more resilient and valuable AKT token, ultimately strengthening its position as a leading decentralized supercloud provider. This move underscores the project’s commitment to innovative tokenomics and sustainable growth, promising an exciting future for both users and investors in the Akash Network ecosystem. It’s a clear signal that Akash is actively working to enhance its value proposition and maintain its competitive edge in the decentralized future. Frequently Asked Questions (FAQs) 1. What is the main goal of the Burn Mint Equilibrium (BME) proposal for Akash Network? The primary goal is to adjust the circulating supply of AKT tokens by burning a portion of network fees, thereby creating deflationary pressure and potentially enhancing the token’s long-term value and scarcity. 2. How will the amount of AKT to be burned be determined? The proposal suggests burning an amount of AKT equivalent to the U.S. dollar value of fees paid by users on the Akash Network for cloud services. 3. What are the potential benefits for AKT token holders? Token holders could benefit from increased scarcity of AKT, which may lead to higher demand and appreciation in value over time, especially as network usage grows. 4. How does this proposal relate to the overall mission of Akash Network? The BME model reinforces the Akash Network‘s mission by creating a stronger, more economically robust ecosystem. A healthier token incentivizes network participants, fostering growth and stability for the decentralized supercloud. 5. What is the next step for this governance proposal? The proposal will undergo a period of community discussion and voting by AKT token holders. The community’s decision will determine if the BME model is implemented on the Akash Network. If you found this article insightful, consider sharing it with your network! Your support helps us bring more valuable insights into the world of decentralized technology. Stay informed and help spread the word about the exciting developments happening within Akash Network. To learn more about the latest crypto market trends, explore our article on key developments shaping decentralized cloud solutions price action. This post Akash Network’s Strategic Move: A Crucial Burn for AKT’s Future first appeared on BitcoinWorld.
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