News linked to both this project and an event.
US stock futures fell across the board on Friday, with the tech sector leading the decline, as market concerns over rising AI infrastructure costs and a slowdown in fundraising pace intensified. Nasdaq 100 futures fell 1.2%, S&P 500 futures dropped 0.5%, and Dow Jones futures lost 67 points (-0.1%). Chip stocks broadly weakened following reports that OpenAI is considering postponing its IPO until next year, citing increased volatility in AI-related stocks, unstable market sentiment, and even the impact of SpaceX’s weak post-IPO performance.JPMorgan's trading desk noted that this news has reinforced market concerns about the sustainability of AI infrastructure investments and could affect the pace of future capital market fundraising. Vital Knowledge analyst Adam Crisafulli also stated that the IPO delay could slow down the overall expansion rate of AI infrastructure spending.In the chip sector, Philadelphia Semiconductor-related stocks came under pressure, with ON Semiconductor falling over 13% after acquiring Synaptics. Micron Technology and SanDisk both declined by more than 5%. The XLK ETF tracking the tech sector fell 1.6%, extending the previous session's losses. (CNBC)
Lido has released an update regarding the Kelp security incident, stating that its Earn-series vaults are working with the management team to address the issue, focusing on two key risk areas: rsETH exposure and tightening liquidity in lending markets. Lido emphasizes that its core staking protocol remains unaffected, and both stETH and wstETH remain secure and stable. Currently, only the EarnETH vault holds approximately 9% of its TVL in rsETH exposure; related deposits and withdrawals have been suspended by the management team pending resolution. Of the ~$70 million in ETH stolen in the earlier attack, roughly $70 million has already been recovered; asset recovery and loss allocation efforts are ongoing. To mitigate liquidity pressure, the management team has reduced leverage and optimized position structures, significantly decreasing wETH debt exposure. Should losses ultimately materialize, EarnETH will activate its $3 million “first-loss protection mechanism,” funded by the DAO. Other vaults remain unaffected: DVV and EarnUSD are operating normally. The GGV sub-vault is currently experiencing negative yields due to a combination of recursive staking strategies and rising borrowing rates, but active adjustments are underway. Users’ previously submitted withdrawal requests will be processed at pre-incident valuations.