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first_img Former Hack VC partner Hsin-Ju accused the company of pressuring and retaliating, leading to a suicide attempt

Former Hack VC partner and platform head [Hsin-Ju](https://www.rootdata.com/zh/member/Hsin-Ju C.?k=MTUzMjc=) stated that he decided to refuse a settlement agreement that required him to remain silent, preferring to accept a $0 compensation, and has fired his lawyer. He plans to publicly disclose all evidence from his time at Hack VC on August 26 (Wednesday). Hsin-Ju mentioned that he has worked in the crypto industry for 9 years, having been employed at Stellar, Solana, and Fhenix, and that last year during his time at Hack VC, he repeatedly requested to leave due to severe medical emergencies (including Graves' disease, hyperthyroidism, and severe insomnia). However, he was threatened by partners that if he left before completing relevant meetings, he would be blacklisted in the industry, forcing him to work continuously under extreme pressure, which ultimately led to a suicide attempt.Hsin-Ju stated that after the suicide attempt, he expressed in writing that he had no intention to sue and only wished to leave without retaliation. However, Hack VC subsequently had issues with his COBRA health insurance for nearly 4 months, which were only resolved after a lawyer intervened. During the legal process, they continued to attempt to harm his interests through lawyers and employees. Currently, both parties' lawyers are prepared for private mediation and settlement, but he is unwilling to exchange silence for money and chooses to speak out. Hsin-Ju emphasized that he performed well during his employment, having received raises and bonuses, and that the lawsuit is not about money, fully aware that he may face adverse consequences when confronting an institution of $600-700 million scale.Hack VC responded that they are aware of the former employee's statement and express deep concern for his health, but there are significant differences in understanding of the events, and they are currently unwilling to publicly discuss details to respect his privacy.

first_img The price of semiconductor silicon wafers has increased by about 10% for the first time in over three years, benefiting companies like GlobalWafers and other Taiwanese manufacturers

According to the Economic Daily, semiconductor silicon wafers have seen a significant price increase for the first time since the COVID-19 pandemic, covering the full range of specifications including 6-inch, 8-inch, and 12-inch, with an increase starting at 10%. Industry insiders believe this is the first price adjustment in over three years, and major Taiwanese silicon wafer suppliers such as GlobalWafers, TSMC, and Hejian are expected to see improvements in revenue and profitability.GlobalWafers stated that recent demand in some end markets has gradually improved, inventory adjustments in the supply chain are healthier than in the past, and market signals are more positive than last year, but prices still depend on the product, specifications, and customer situations. TSMC mentioned that under cost pressures and demand support, they have begun communicating price adjustments with customers, and operations in the second half of the year are expected to outperform the first half. Hejian indicated that they are actively negotiating price adjustments with customers and continuing to promote advanced packaging and related products.Industry analysis suggests that this round of price increases mainly reflects the rebound in chip demand driven by AI, with increased usage in advanced and mature processes, allowing the upstream silicon wafer industry to gradually feel the recovery. Currently, the negotiation progress varies among factories and customers, with some 12-inch polished wafers already subject to new quotes with double-digit percentage increases, and discussions for 8-inch and 6-inch products are also moving in a similar upward direction.

Analysis: The U.S. Treasury's expansion of long-term Treasury bond repurchases triggers a Bitcoin short squeeze, with over $4 billion in short positions being liquidated

According to Fortune, Bitcoin surged significantly this week, breaking through the previous range of $62,000 to $67,000 that lasted for several weeks, and rising above $77,000 on Friday. The important turning point in the market occurred after the U.S. Treasury announced an expansion of its long-term Treasury bond repurchase program, leading to a decline in long-term U.S. Treasury yields and the dollar, while alternative assets like Bitcoin and gold strengthened simultaneously.The U.S. Treasury stated that it would at least double the scale of long-term Treasury bond repurchases to alleviate the ongoing selling pressure in the bond market. Meanwhile, the total amount of U.S. Treasury debt surpassed $40 trillion, combined with inflation and energy price pressures, raising concerns in the market about the purchasing power of the dollar and long-term fiscal conditions. Funds began to flow into the so-called "debasement trade," with Bitcoin accumulating a rise of over 20% this week.Previously, many traders bet that BTC would continue to be constrained around $67,000, but after the Treasury's actions pushed yields and the dollar down, Bitcoin broke through that price level, forcing short sellers to cover. Since covering positions requires buying BTC, this further drove up the price and triggered more liquidations. According to CoinGlass data, over $4 billion in cryptocurrency short positions have been liquidated during this rally as of Friday.Additionally, Trump urged Congress to advance the CLARITY Act at a cryptocurrency conference held at the White House this week. CFTC Chairman Mike Selig subsequently stated that he would use existing authority to promote the government's cryptocurrency policy agenda, which also provided a policy-level catalyst for this market rally.

first_img Analysis: This round of BTC increase is accompanied by a decrease in OI, and spot demand has emerged for the first time

On-chain data analyst Murphy stated that this round of BTC price increase is "a bit different": the scale of futures liquidations has reached a record, but the open interest (OI) has simultaneously decreased. The price increase is mainly driven by short liquidations or buy-ins to cover positions, which belongs to the clearing of existing positions rather than new leveraged net exposure. If driven solely by liquidations, prices often show a spike followed by a drop; this time, after the surge, the price has stabilized, indicating that there are other spot funds taking over.Murphy pointed out that if the contracts are dominated by long positions, OI usually rises and rates increase, but this round saw OI decrease almost throughout, with no large-scale new leverage entering the market. The exchange's spot relative trading volume (SRV) reached 2.94 from August 19 to 20, about three times the average of the past 30 days. Similar volume increases in the past two years have mostly occurred during panic sell-offs or bull market phases, which is different from the scenarios in January when it rebounded to about $96,000 and in May when it rebounded to about $82,000, where leverage was dominant.He emphasized that the demand for spot is only a potential sign that has appeared for the first time since entering a bear market, combined with the price challenging the short-term holder cost line (STH-RP) and the seller exhaustion index entering extreme zones, it is still insufficient to conclude a trend reversal.
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