Lido cuts 15% of staff due to cost pressures
Vasiliy Shapovalov, co-founder of Lido, announced that, due to cost considerations, Lido Labs, Lido Ecosystem, and Lido Alliance have made the difficult decision to cut about 15% of their staff. This adjustment is not due to performance issues, and those affected are important members who have been deeply involved in protocol and community development. Shapovalov stated that, although the market is currently in an upward phase, this decision reflects a commitment to long-term resilience and sustainable growth, aiming to focus on operational priorities, optimize resource allocation, and align with the interests of LDO token holders.
Trump Media Reports $20 Million Net Loss in Q2, Plans to Launch Utility Tokens and Digital Asset ETFs
Trump Media, the parent company of Truth Social, had a net loss of $20 million in Q2, with a 3.8% drop in stock price. Of this, about $15 million was related to SPAC merger legal expenses. In July, the company purchased $2 billion worth of Bitcoin, currently the fifth largest publicly traded Bitcoin holder in the world, and plans to launch a utility token tied to Truth Social and Truth+. In addition, its digital asset ETF plan has been submitted to the SEC, with the review postponed until September 18.