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

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)
$0,006926
$0,006926$0,006926
-1,49%
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 service@support.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

Born Again’ Season 3 Way Before Season 2

Born Again’ Season 3 Way Before Season 2

The post Born Again’ Season 3 Way Before Season 2 appeared on BitcoinEthereumNews.com. Daredevil Born Again Marvel MCU fans were thrilled that Charlie Cox’s Daredevil was being brought back to life after his unceremonious execution after his show’s Netflix run, where everything was transitioning to Disney Plus. Born Again felt like a moment that would never come, and when it did, it mostly satisfied fans, with few exceptions. Now, according to a new IGN interview with head of TV Brad Winderbaum, Marvel has greenlit Daredevil: Born Again for season 3, well before season 2 airs in March 2026. Originally, the plan was an 18-episode run across two seasons, but Marvel seems to have much larger plans for Matt Murdoch and his series. This is a combination of two things. First, the positive fan reception to season 1. While there were some hiccups here, where the middle of the season had parts of the previously canned version of the show they had to work around, the first and last few episodes were incredible, and that’s the team making all of season 2 and presumably season 3 going forward. So, that’s great news. Second, this is a move by Marvel to reduce the cost of its endless supply of Disney Plus shows by focusing on more “street level” content. MCU series have been all over the place in terms of their focus and their budgets, culminating in the ridiculous $212 million budget for six episodes of the VFX-heavy Secret Invasion, one of the worst things Marvel has ever produced. Now? The name of the game is lower costs. Agatha All Along was a prime example of this, one of the MCU’s cheapest projects ever but one of its best shows. Disney is investing deeper into the “Daredevil-verse” here, as season 2 of Born Again features Jessica Jones, who might be destined to return for her…
Share
BitcoinEthereumNews2025/09/19 02:29
Fed forecasts only one rate cut in 2026, a more conservative outlook than expected

Fed forecasts only one rate cut in 2026, a more conservative outlook than expected

The post Fed forecasts only one rate cut in 2026, a more conservative outlook than expected appeared on BitcoinEthereumNews.com. Federal Reserve Chairman Jerome Powell talks to reporters following the regular Federal Open Market Committee meetings at the Fed on July 30, 2025 in Washington, DC. Chip Somodevilla | Getty Images The Federal Reserve is projecting only one rate cut in 2026, fewer than expected, according to its median projection. The central bank’s so-called dot plot, which shows 19 individual members’ expectations anonymously, indicated a median estimate of 3.4% for the federal funds rate at the end of 2026. That compares to a median estimate of 3.6% for the end of this year following two expected cuts on top of Wednesday’s reduction. A single quarter-point reduction next year is significantly more conservative than current market pricing. Traders are currently pricing in at two to three more rate cuts next year, according to the CME Group’s FedWatch tool, updated shortly after the decision. The gauge uses prices on 30-day fed funds futures contracts to determine market-implied odds for rate moves. Here are the Fed’s latest targets from 19 FOMC members, both voters and nonvoters: Zoom In IconArrows pointing outwards The forecasts, however, showed a large difference of opinion with two voting members seeing as many as four cuts. Three officials penciled in three rate reductions next year. “Next year’s dot plot is a mosaic of different perspectives and is an accurate reflection of a confusing economic outlook, muddied by labor supply shifts, data measurement concerns, and government policy upheaval and uncertainty,” said Seema Shah, chief global strategist at Principal Asset Management. The central bank has two policy meetings left for the year, one in October and one in December. Economic projections from the Fed saw slightly faster economic growth in 2026 than was projected in June, while the outlook for inflation was updated modestly higher for next year. There’s a lot of uncertainty…
Share
BitcoinEthereumNews2025/09/18 02:59
Rap Star Drake Uses Stake to Wager $1M in Bitcoin on Patriots Despite Super Bowl LX Odds

Rap Star Drake Uses Stake to Wager $1M in Bitcoin on Patriots Despite Super Bowl LX Odds

Drake has never been shy about betting big, but on the eve of Super Bowl LX, the global music star took it up another notch by placing a $1 million wager on the
Share
Coinstats2026/02/09 04:00