Major Shareholder of Walnut Capital Donates 10 Bitcoins and Other Cryptocurrencies to Company Subsidiary
According to Futu reports, Walnut Capital (00905.HK) announced that the company's executive director and controlling shareholder, Meng Pinwen, signed a deed of gift with the company's wholly-owned subsidiary, Kulong Holdings, on May 30. He will irrevocably and unconditionally transfer, convey, and assign 170 million AFG tokens, 5.8 billion FOFO tokens, and 10 bitcoins to Kulong.
Walnut Capital plans to retain this batch of virtual currencies as reserve funds and may cash them out at an appropriate time. The donation will not be recognized as income in the accounts and will be held for capital appreciation, being regarded as intangible assets in the company's financial statements.
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EIA expects Brent crude spot prices to remain at $100 per barrel for the rest of the year and raises the average price forecasts for this year and next.
The U.S. Energy Information Administration (EIA) has raised its forecast for average Brent crude oil prices in 2026 and 2027 to $97 and $86, respectively, reflecting pressures from global inventory declines, Middle East supply disruptions, and rising transportation costs. As oil production in the Middle East gradually recovers and global inventories rebound from low levels, the EIA expects the average spot price of Brent crude to fall to $87 per barrel in the second quarter of 2027, and further decline to $77 per barrel by the fourth quarter.
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