The post Tether hasn’t saved this OOB stock from a 99.9% YTD loss appeared on BitcoinEthereumNews.com. If an investor were to read the SEC filings of VCI Global, they may find it difficult to understand its risky ties to Tether and Solana. Amid a sort of information vacuum and other executive disappointments in 2025, holding shares of VCI Global since their open of trading on a “100 million OOB token digital-asset-treasury transaction” announcement would have earned a 31% loss in less than four weeks. Longer term shareholders have performed even worse. Anyone’s investment since the start of the year has suffered a catastrophic, 99.9% loss. Year-to-date chart of VCI Global. Source: TradingView Oobit (OOB) is a tap-to-pay app that uses its proprietary token as well as stablecoins like Tether (USDT) for mobile device payments. VCI Global is a microcap Nasdaq stock with a market capitalization in the single-digit millions and a float of less than 24,000 shares. The company is based in Kuala Lumpur, Malaysia, and apparently has a problem with CEO impersonation fraud, according to a prominent notice on the company’s homepage. That’s just the beginning of its problems. On November 26, the company claimed to have acquired 4,174,603 additional OOB tokens “from the open market,” yet that disclosure refrained from mentioning that it acquired the vast majority of its OOB without any purchases, devoid of market forces from exchange listings of OOB. Specifically, the company already owned 250 million OOB tokens — priced before the token was trading on Kraken or other major exchanges. Its 4.1 million token purchase at $0.24 was merely an investment of $1 million. The company characterized the tiny purchase and 1.6% increase as the “initial phase of our US$50 million accumulation plan.” Focusing on what actually matters, 98.4% of the company’s OOB holdings were transferred by investors who received 50 million shares worth of VCI Global stock and pre-funded, immediately… The post Tether hasn’t saved this OOB stock from a 99.9% YTD loss appeared on BitcoinEthereumNews.com. If an investor were to read the SEC filings of VCI Global, they may find it difficult to understand its risky ties to Tether and Solana. Amid a sort of information vacuum and other executive disappointments in 2025, holding shares of VCI Global since their open of trading on a “100 million OOB token digital-asset-treasury transaction” announcement would have earned a 31% loss in less than four weeks. Longer term shareholders have performed even worse. Anyone’s investment since the start of the year has suffered a catastrophic, 99.9% loss. Year-to-date chart of VCI Global. Source: TradingView Oobit (OOB) is a tap-to-pay app that uses its proprietary token as well as stablecoins like Tether (USDT) for mobile device payments. VCI Global is a microcap Nasdaq stock with a market capitalization in the single-digit millions and a float of less than 24,000 shares. The company is based in Kuala Lumpur, Malaysia, and apparently has a problem with CEO impersonation fraud, according to a prominent notice on the company’s homepage. That’s just the beginning of its problems. On November 26, the company claimed to have acquired 4,174,603 additional OOB tokens “from the open market,” yet that disclosure refrained from mentioning that it acquired the vast majority of its OOB without any purchases, devoid of market forces from exchange listings of OOB. Specifically, the company already owned 250 million OOB tokens — priced before the token was trading on Kraken or other major exchanges. Its 4.1 million token purchase at $0.24 was merely an investment of $1 million. The company characterized the tiny purchase and 1.6% increase as the “initial phase of our US$50 million accumulation plan.” Focusing on what actually matters, 98.4% of the company’s OOB holdings were transferred by investors who received 50 million shares worth of VCI Global stock and pre-funded, immediately…

Tether hasn’t saved this OOB stock from a 99.9% YTD loss

For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com

If an investor were to read the SEC filings of VCI Global, they may find it difficult to understand its risky ties to Tether and Solana.

Amid a sort of information vacuum and other executive disappointments in 2025, holding shares of VCI Global since their open of trading on a “100 million OOB token digital-asset-treasury transaction” announcement would have earned a 31% loss in less than four weeks.

Longer term shareholders have performed even worse. Anyone’s investment since the start of the year has suffered a catastrophic, 99.9% loss.

Year-to-date chart of VCI Global. Source: TradingView

Oobit (OOB) is a tap-to-pay app that uses its proprietary token as well as stablecoins like Tether (USDT) for mobile device payments.

VCI Global is a microcap Nasdaq stock with a market capitalization in the single-digit millions and a float of less than 24,000 shares.

The company is based in Kuala Lumpur, Malaysia, and apparently has a problem with CEO impersonation fraud, according to a prominent notice on the company’s homepage.

That’s just the beginning of its problems. On November 26, the company claimed to have acquired 4,174,603 additional OOB tokens “from the open market,” yet that disclosure refrained from mentioning that it acquired the vast majority of its OOB without any purchases, devoid of market forces from exchange listings of OOB.

Specifically, the company already owned 250 million OOB tokens — priced before the token was trading on Kraken or other major exchanges. Its 4.1 million token purchase at $0.24 was merely an investment of $1 million.

The company characterized the tiny purchase and 1.6% increase as the “initial phase of our US$50 million accumulation plan.”

Focusing on what actually matters, 98.4% of the company’s OOB holdings were transferred by investors who received 50 million shares worth of VCI Global stock and pre-funded, immediately exercisable warrants.

Tether’s PIPE gets the cheap price on OOB

Those 250 million tokens were favorably priced at $0.20 — 73% lower than their $0.73 high within a 48-hour period of that headline. 

Brazenly, the company claimed that this 250 million token transfer “paid” — with no actual cash transaction nor placement agent — for VCI Global’s entire $50 million Private Investment in Public Equity (PIPE).

On the other side of that deal, Tether Investment Limited received 39.8% of the PIPE shares. 

Straddling both sides of the deal, Tether is also a top investor in OOB, leading its Series A fundraise, alongside Solana co-founder Anatoly Yakavenko.

In other words, an entity agreeing to the pricing of the OOB tokens was the same entity receiving the majority of the PIPE shares.

Read more: Tether took over the White House, now it’s tearing it down to build a ballroom

This whole thing relies on Kraken keeping OOB up for trading

According to Cory Klippsten, a Tether critic who has been involved in litigation against the stablecoin giant, “This structure lets an effective change of control happen without triggering a 13D.”

Klippsten characterized the lack of VCI Global’s SEC Form 13D plus other factors “a possible material breach of SEC Rule 12b-20.”

Protos doesn’t have a view on that allegation, and only a US securities attorney could provide advice regarding those forms.

The timing, pricing, and catering of both sides of the deal to related parties is certainly interesting. Kraken and other exchanges like KCEX activated trading pairs of the OOB token within 48 hours of the November 10 VCI Global deal.

In fact, a substantial portion of the deal explicitly relies on Kraken’s OOB trading pair staying up and operational.

If Kraken suspends or withdraws its OOB listing within six months, VCI Global “shall have the right to rescind this agreement” by returning OOB and reversing the VCI Global shares issued.

Got a tip? Send us an email securely via Protos Leaks. For more informed news, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.

Source: https://protos.com/tether-hasnt-saved-this-oob-stock-from-a-99-9-ytd-loss/

Market Opportunity
Threshold Logo
Threshold Price(T)
$0.006476
$0.006476$0.006476
-1.68%
USD
Threshold (T) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

xAI Launches Grok 4 Fast: A Leap in Cost-Efficient AI

xAI Launches Grok 4 Fast: A Leap in Cost-Efficient AI

The post xAI Launches Grok 4 Fast: A Leap in Cost-Efficient AI appeared on BitcoinEthereumNews.com. James Ding Sep 19, 2025 21:46 xAI introduces Grok 4 Fast, advancing cost-efficient reasoning models with superior token efficiency and performance, offering a unified architecture for enterprise and consumer applications. Introduction to Grok 4 Fast xAI has unveiled Grok 4 Fast, a groundbreaking advancement in cost-efficient reasoning models. Building on the successes of Grok 4, this new model offers exceptional token efficiency, making high-quality reasoning more accessible to developers and users across various domains. Grok 4 Fast integrates state-of-the-art cost-efficiency with advanced web and X search capabilities, featuring a 2M token context window and a unified architecture for both reasoning and non-reasoning modes. Performance and Efficiency According to xAI, Grok 4 Fast surpasses its predecessor, Grok 3 Mini, in reasoning benchmarks, achieving similar performance to Grok 4 while reducing token usage by 40%. This efficiency results in a 98% reduction in the cost to achieve the same performance on frontier benchmarks. The model’s enhanced intelligence density is verified by an independent review from Artificial Analysis, showcasing a superior price-to-intelligence ratio. Advanced Capabilities Grok 4 Fast is engineered with large-scale reinforcement learning, optimizing its tool-use capabilities. The model excels in deciding when to utilize tools like code execution or web browsing, boasting advanced agentic search capabilities. It can seamlessly browse the web, accessing real-time data and synthesizing information at high speeds, setting a new standard for cost-effective intelligence across general domains. Benchmark Success The model’s prowess is evident in LMArena’s Search Arena, where Grok 4 Fast, under the code name ‘menlo’, secured the top position with an Elo score of 1163, outperforming its nearest competitor by a significant margin. In the Text Arena, Grok 4 Fast ranks eighth, demonstrating its superior intelligence density compared to larger models. Unified Architecture Grok 4 Fast introduces…
Share
BitcoinEthereumNews2025/09/21 01:37
Bitcoin $123K Prediction as Poland Launches First Bitcoin ETF, Bitcoin Hyper Nears $17M, and More…

Bitcoin $123K Prediction as Poland Launches First Bitcoin ETF, Bitcoin Hyper Nears $17M, and More…

The post Bitcoin $123K Prediction as Poland Launches First Bitcoin ETF, Bitcoin Hyper Nears $17M, and More… appeared on BitcoinEthereumNews.com. Live Bitcoin Hyper Updates Today: Bitcoin $123K Prediction as Poland Launches First Bitcoin ETF, Bitcoin Hyper Nears $17M, and More… Sign Up for Our Newsletter! For updates and exclusive offers enter your email. Leah is a British journalist with a BA in Journalism, Media, and Communications and nearly a decade of content writing experience. Over the last four years, her focus has primarily been on Web3 technologies, driven by her genuine enthusiasm for decentralization and the latest technological advancements. She has contributed to leading crypto and NFT publications – Cointelegraph, Coinbound, Crypto News, NFT Plazas, Bitcolumnist, Techreport, and NFT Lately – which has elevated her to a senior role in crypto journalism. Whether crafting breaking news or in-depth reviews, she strives to engage her readers with the latest insights and information. Her articles often span the hottest cryptos, exchanges, and evolving regulations. As part of her ploy to attract crypto newbies into Web3, she explains even the most complex topics in an easily understandable and engaging way. Further underscoring her dynamic journalism background, she has written for various sectors, including software testing (TEST Magazine), travel (Travel Off Path), and music (Mixmag). When she’s not deep into a crypto rabbit hole, she’s probably island-hopping (with the Galapagos and Hainan being her go-to’s). Or perhaps sketching chalk pencil drawings while listening to the Pixies, her all-time favorite band. This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy. I Agree Source: https://bitcoinist.com/bitcoin-hyper-live-news-september-19-2025/
Share
BitcoinEthereumNews2025/09/19 21:20
WLD Price Prediction: Worldcoin Eyes $0.42 Recovery Amid Technical Consolidation

WLD Price Prediction: Worldcoin Eyes $0.42 Recovery Amid Technical Consolidation

Worldcoin (WLD) trades at $0.39 with neutral RSI at 46, targeting $0.42 resistance. Technical indicators suggest consolidation before potential breakout. (Read
Share
BlockChain News2026/03/07 20:35