PTS

Bybit CEO responds to OIK dumping allegations: will not sell off activity budget for profit, accepts audits from any regulatory authority

ChainCatcher news, Bybit CEO Ben Zhou responded to the concerns regarding the Launchpool project OIK token dump: "The budget for OIK's launchpool activity was a total of 10 million tokens provided by the project party, of which 3.3 million have been distributed, with over 90,000 users participating in the activity. The launchpool is still ongoing and will conclude on March 19, with 5.7 million tokens yet to be distributed.Bybit has never sold off activity budgets for profit; such market manipulation has serious legal consequences, and the budget is all in hot wallets, which can be audited by any regulatory authority. Currently, it appears that there are indeed large holders selling OIK in the market, and the compliance department is investigating the specific details. In the future, we are considering allowing the community to have a more direct view of our budget situation by using independent wallets to receive project budgets, enabling the community to see everything transparently."It is reported that previously some community users raised concerns: "It is inferred that Bybit is using its own Launchpool as a cash machine. The TGE of SpaceNation, which has been built for a year, was a failure. However, over the past three days, the community has gone from outrage to resentment to questioning and investigation, and has collected some evidence. A community sold less than 5% of the project, yet the project party absorbed an abnormal circulation volume within 30 minutes of the opening."

Musk describes the DOGE blueprint and attempts to boost market confidence in U.S. debt

ChainCatcher news, according to Jinshi reports, Elon Musk, who leads the U.S. government's efficiency department "DOGE," recently outlined a blueprint for significant cuts to U.S. spending and regulations, including the abolition of the U.S. Agency for International Development (USAID). Musk stated in an X Spaces audio conference that a thorough cleanup of U.S. regulations is needed, revealing that his team is pushing to close this foreign aid agency established by U.S. Congress, which would be the largest reduction plan to date.Additionally, Musk announced that he will have a dialogue with JPMorgan CEO Jamie Dimon this week, attempting to persuade the bond market that his "DOGE" cost-cutting plan can enhance market confidence in U.S. debt. Any signs of significant spending cuts and improvements in the fiscal deficit are good news for investors betting on a decline in U.S. Treasury yields. This nearly hour-long audio discussion was Musk's first detailed talk about the "DOGE plan" since Trump's election victory, with participation from Republican Senators Joni Ernst, Mike Lee, and former "DOGE" co-chair Vivek Ramaswamy in this free discussion.Analysts believe that Musk's intensive actions two weeks before Trump's administration indicate that the authority of "DOGE" has far exceeded the scope of the executive order that created the department—this order only required it to "improve government efficiency and productivity by upgrading federal technology software."
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