News

NextGen Venture founder Jason Huang stated that Strategy (MSTR) issued new shares via ATM last week, which did not increase the per-share Bitcoin holdings but instead diluted the mNAV multiple. The amount of Bitcoin corresponding to each share is decreasing, and the official mNAV metric has dropped to 1.1 times. Jason Huang noted that once Strategy underperforms Bitcoin by 10%, each ATM issuance will further dilute the per-share Bitcoin holdings, starting a death spiral.

BlockBeats News, June 24th, Hyperliquid officially announced that the gradual delisting of USDH is imminent, advising users to immediately convert USDH to USDC. With an exchange becoming the official USDC Treasury Deployer for Hyperliquid, the platform will transition to using USDC as the primary stablecoin and collateral, and USDH will be gradually phased out. USDH is currently available for normal trading and remains fully backed. During the transition period, users can freely convert USDH to USDC or fiat through Native Markets' USDH Dashboard. The platform will also coordinate with relevant HIP Deployers to complete the migration and ensure a secure and smooth transition of user assets.

Golden Ten Data reported on June 24, citing the Financial Times, that Nissan shareholders have rejected the reappointment of senior independent director Motoo Nagai, who played a key role in pushing for a Nissan-Honda merger. Nissan stated on Tuesday that Motoo Nagai did not receive the required majority of over 50% of votes for reappointment. According to sources, Renault, which holds 15% of Nissan’s voting rights, abstained from voting on both Motoo Nagai and another candidate, Junichi Shinbo, due to their connections to Nissan’s largest creditor, Mizuho Bank. Motoo Nagai was a major supporter of the brief merger talks between Nissan and Honda at the end of 2024. The two parties originally planned to create a Japanese carmaker of a scale comparable to Toyota, aiming to better compete in the market. The deal was initially presented as an “equal merger,” but collapsed in less than three months as Honda sought greater control and aimed to make Nissan its subsidiary. Afterwards, Honda itself fell into its biggest crisis in history. Due to strategic misjudgments in electric vehicles, the company posted its first annual loss since its listing in the 1950s. Proxy advisory firms Institutional Shareholder Services and Glass Lewis had previously recommended that shareholders oppose Motoo Nagai’s reappointment, citing concerns over his independence.