Cap Labs2026-08-14 14:11:26CAP tops 0.07 USDT with a 36.22% gain over the past 24 hoursMarket data on Bitget shows that CAP, the token of stablecoin protocol Cap Labs, has moved above 0.07 USDT and was last quoted at 0.07318 USDT. The token’s market capitalization was about $111 million at the time of the update. Over the past 24 hours, CAP posted a gain of 36.22%, according to the quoted market data. The report also noted that CAP is up about 85.8% from the intraday high of 0.03939 USDT recorded on Aug. 6, when it was listed on Upbit. The move places CAP well above that earlier reference level, based on the figures cited in the market update.1250
Cap Labs2026-07-14 11:45:26Cap’s cUSD sees $23 million withdrawn after stabledrop reversal as founder rejects self-dealing claimsCap Labs is facing a backlash after changing the terms of its long-promised “stabledrop” program for cUSD users. The company had set aside $12 million in February for what it described as the first stablecoin airdrop for early participants, but said on Friday that the payout would be reduced to $4.2 million and redirected toward making whole holders of Pendle yield tokens, or YTs, who had lost money. The move triggered heavy criticism, accusations of insider favoritism, and roughly $23 million in withdrawals, with funds dropping from $80 million to $57 million. Founder Benjamin Peillard responded on Monday, calling the original $12 million promise a mistake based on an unconfirmed $250 million valuation. He said the revised approach meant “nobody would take a loss, but at the same time, nobody would make a profit.” Peillard also denied self-dealing allegations tied to a wallet accused of getting preferential treatment, saying it belonged to an old colleague not affiliated with Cap, though still a close friend. Critics remain skeptical, pointing to ENS activity linked to the wallet and the timing of its YT accumulation. Meanwhile, cUSD, which topped $400 million near the end of January, now stands at about $62 million.1360
Cap Labs2026-07-11 08:04:29Cap Labs unveils revised Stabledrop plan with $4.2 million in cUSD compensation for loss-making Frontier usersCap Labs has released a new Stabledrop plan tied to its Frontier Program, setting aside $4.2 million in stablecoin compensation for eligible users. Under the updated terms, the payout will go to Frontier participants who held capped tokens and are currently at a loss, with funds sourced entirely from token sale proceeds. The compensation will be paid in cUSD and is intended to fully cover those losses. The revised Stabledrop will become redeemable on July 13, 2026, and users will have a three-month window to claim. Eligibility is limited: only Frontier participants whose losses came from buying Pendle YT can receive the compensation. Users who simply hold cUSD or provide liquidity to Pendle LP are excluded from the stablecoin distribution. The update narrows the scope of the program while clarifying both the source of funds and the redemption timeline.1260
