Walnut Capital received a gift of bitcoin and other assets from its major shareholder.

Walnut Capital announced that the executive director and controlling shareholder Meng Pinwen and the company's direct wholly-owned subsidiary Kulang have entered into a gift agreement. According to the gift agreement, Meng Pinwen irrevocably and unconditionally transfers, trades and assigns 170 million Army of Fortune Gem tokens, 5.8 billion Frog Defense tokens, and 10 bitcoins to Kulang. The Group intends to keep the gift as reserves and may cash out at the appropriate time. The Group will not recognize any income on the donation. The gift will be held by the Group as capital appreciation, and therefore will be treated as intangible assets in the financial statements.