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We are excited to announce four updates regarding the Ethena ecosystem, further details on each point are provided in the blog linked below: 1. Buyout of early investors: The Ethena Foundation executed a buyout of all locked tokens from certain major seed investors that sold any ENA within the last 9 months. 2. Alignment of Token & Equity: The Ethena Foundation and Ethena Labs have reached agreement on a Master Framework Agreement, whereby IP and ownership of value accrued by the protocol is assigned to the Foundation exclusively and governed by token holders with no residual cash flow due to equity investors in the Labs entity. 3. Revenue Buybacks: Governance proposal now live for the implementation of the fee switch whereby net revenue accrued across all business lines under the Ethena brand will be used to programmatically buy back the ENA token. The vote for revenue buyback fee switch implementation is now here, and has already been approved by the Risk Committee: 4. Removal of monthly VC unlocks: The Ethena Foundation and lead investors have agreed to eliminate future overhang associated with monthly VC investor unlocks by releasing unvested tokens. All team tokens remain locked per the original vesting schedules. Further details and documentation is provided in the blog linked below:

BREAKING: SpaceX officially completes its $60 billion acquisition of Cursor. The merger became effective on August 14, 2026. SpaceX subsidiary X67 Inc. merged into Anysphere, with Cursor surviving as a wholly owned SpaceX subsidiary. • Cursor’s common and preferred shares were converted into the right to receive 389,289,254 SpaceX Class A shares. • Vested Cursor RSUs were converted into the right to receive 1,752,426 SpaceX Class A shares before applicable tax withholding. • Cash will be provided in place of fractional shares. • Unvested Cursor RSUs were assumed and converted into approximately 29,128,326 SpaceX RSUs. • Cursor stock options were assumed and converted into approximately 44,365,047 options to purchase SpaceX Class A shares. • The share conversion was based on Cursor’s $60 billion implied equity value and SpaceX’s volume-weighted average closing price over the seven trading days immediately before closing. • The shares were issued under the Section 4(a)(2) registration exemption as a transaction that did not involve a public offering.

Circle's President has sold $31 MILLION worth of company stock. Is he no longer bullish on $USDC ...? According to data shared by @MSBIntel, @Circle President, Heath Tarbert, has sold $30.8M worth of $CRCL stock since the company's 2025 IPO. With that said, he still owns some 502,558 shares (vested and unvested).

Up to 30,000 workers were laid off by Oracle in the last month as the company pivots toward AI. Former employees have been sharing stories in private message threads and on social media; many say they were told to train AI systems that would replace them, laid off by a single email after decades of service, left facing deportation without after losing work-dependent visas, and stripped of thousands of dollars in unvested stock bonuses. TIME reporter Andrew Chow speaks with some of the people laid off from Oracle for this episode of AI, Explained by Humans. Read more:

$IREN The board’s case for the $694M founder grant is that Dan & Will have a “proven ability” to secure power, build data centers, and monetize them. In reality ~100% of operating, revenue-generating capacity sits on bitcoin-era land they bought before power was scarce. The proof comes from a market that no longer exists. Credit where due, they’ve out-originated peers post-bottleneck with ~2.9GW added in H1 2026 alone. But securing land is the easy half now, and they’ve monetized $0 of those new assets. Oklahoma doesn’t even energize until 2028. Yes the Microsoft and NVIDIA deals are real, but both sit entirely on the 2022 legacy footprint. Meanwhile TeraWulf bought a brownfield site in Feb 2026 and signed a $19B, 20-year Anthropic lease on it by July. Actual competitive-era monetization of a new asset, no $694M retention grant required. So the claim that “the market for people like Dan and Will has never been more aggressive” falls flat. Aggressive relative to what? Peers are running the identical pivot playbook, some faster and at lower capex. And a softer hypothesis the board should sit with: their own letter admits the old performance hurdles failed to vest during macro headwinds. Arguably that’s when the incentive structure was working. Hungry founders with unvested equity made the early, aggressive pivot to AI. Now they hold a fixed grant that vests on employment alone. If macro turns against the AI buildout, what incentive do they have to fight through it? There are no hurdles to miss. Just show up, and at worst walk away with nine figures each for tenure. The board is paying $694M for a skill whose proof came from a market that no longer exists, through a structure that pays out even if the skill was never there.