News

Chainlink (LINK) network activity has surged to levels not seen in eight months, driven by the migration of decentralized finance (DeFi) protocols from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol (CCIP), according to BeInCrypto. On-chain analytics firm Santiment reported 282,170 active addresses on May 9, followed by 264,090 the next day, marking the strongest sustained activity since September 2025. This increase follows a $292 million exploit on April 18, 2026, involving Kelp DAO's LayerZero-powered bridge, prompting a shift to Chainlink CCIP. Additionally, Solv Protocol plans to migrate over $700 million in tokenized Bitcoin to CCIP, further boosting network activity. The surge is attributed to genuine protocol usage rather than speculative trading, with significant whale accumulation and reduced sell-side pressure noted.

Circle's first-quarter financial report revealed that its revenue did not meet expectations. According to PANews, the ARC ecosystem has introduced new variables, with the ARC Token presale reaching $222 million. Despite the revenue shortfall, the stablecoin USDC continues to show strong growth.

Microsoft set a target to achieve a $92 billion return from its early significant investment in OpenAI, according to Bloomberg. This information was revealed during a court hearing on May 11 in Oakland, California, involving a lawsuit filed by Elon Musk against OpenAI and Microsoft. Microsoft CEO Satya Nadella stated in court that the investment was successful because the company took on the associated risks.

Marathon Digital Holdings (MARA) has announced its financial results for the first quarter, revealing a revenue of $174.6 million, which marks an 18% decrease compared to the same period last year. According to NS3.AI, the company emphasized that bitcoin mining continues to be its core operational focus. The net loss for the quarter expanded to $1.3 billion, largely attributed to unrealized losses on the 38,689 BTC held on its balance sheet. In an effort to manage debt and improve financial flexibility, MARA sold approximately $1.1 billion worth of bitcoin towards the end of the quarter.

Lawmakers have publicly released the text of the crypto market structure bill ahead of their vote, according to CoinDesk. The bill, which had been circulating within the industry behind closed doors, aims to address regulatory frameworks for the cryptocurrency sector. This move is seen as a significant step towards formalizing the legal landscape for digital assets, potentially impacting market participants and regulatory compliance.

OpenAI has announced plans to acquire the consulting firm TOMORO to establish a private equity joint venture. According to Jin10, this strategic move aims to expand OpenAI's influence in the financial sector by leveraging TOMORO's expertise. The acquisition is expected to enhance OpenAI's capabilities in providing AI-driven solutions to private equity firms, marking a significant step in its business diversification efforts.

Bitcoin Ordinals browser Ord.io announced on the X platform that it will cease operations on June 1. According to PANews, the platform, launched three years ago, has served over one million users. The team plans to upload the complete history of likes, replies, and public address data to GitHub, allowing future developers to build related Ordinals browsing tools based on this data.

MARA Holdings (MARA) and CleanSpark, Inc. (CLSK) shares fell in after-hours trading following the release of their latest quarterly results, according to BeInCrypto. Both Bitcoin miners reported declines in revenue and wider net losses, largely due to the depreciation of their Bitcoin holdings. MARA posted a net loss of $1.3 billion, impacted by a $1 billion loss from changes in the fair value of its digital assets, while revenue fell 18% to $174.6 million. CleanSpark recorded a net loss of $378.3 million, with $224.1 million attributed to Bitcoin valuation declines, as revenue dropped 24.9% to $136.4 million.

According to the announcement from Binance, starting on 2026-05-12 at 12:00 (UTC), the platform will temporarily suspend deposits and withdrawals of tokens on the Moonriver (MOVR) network. This suspension is to facilitate a network upgrade aimed at enhancing user experience. The upgrade is scheduled to occur at block height 16,249,119, which is expected to be reached around 2026-05-12 at 13:00 (UTC).

The trading of tokens on the Moonriver network will remain unaffected during this period. Binance has assured users that it will manage all technical requirements related to the upgrade. Once the network is deemed stable post-upgrade, deposits and withdrawals will be resumed without any further announcements. Users are advised to stay informed through the project team's communications for additional details.

Grok's downloads have decreased significantly, dropping to approximately 8.3 million in April this year from over 20 million in January. According to NS3.AI, this decline is attributed to Grok's AI model lagging behind faster-growing competitors. Recon Analytics reported that Grok's paid-user share in the second quarter of 2026 was 0.174%, showing minimal change from 0.173% a year earlier. Additionally, a computing lease between SpaceX and Anthropic has raised further concerns about Grok's ability to keep pace with its rivals.

Stream Finance announced on Platform X that it is seeking ways to maximize the value of assets for customers and creditors. According to Odaily, the goal is to integrate, liquidate, and distribute assets prudently and swiftly. The team is considering several strategic alternatives that require the involvement of customers and creditors, with more details expected in the coming weeks. Inquiries can be directed to Jeremiah Ledgwidge at Cooley LLP.

In November last year, Stream Finance reported a loss of $93 million in assets and subsequently suspended withdrawals, leading to a significant de-pegging of XUSD.

According to the announcement from Binance, the platform is introducing a new promotion for eligible Futures users, offering a chance to share a total prize pool of $30,000 in XAUT (Gold) and an additional $10,000 in XAUT rewards. This promotion is available to returning, new, and active users who complete specific Futures tasks. The activity period is set from 2026-05-11 to 2026-06-11.

Eligible participants can engage in Futures tasks to earn attempts at winning rewards. The tasks vary based on user status, such as new users or those without prior Futures trade records. For instance, new users can earn attempts by trading a minimum cumulative amount of $150 or $5,000 equivalent on eligible TradFi Contracts. Similarly, users with no prior Futures trades can participate by trading $200 or $8,000 equivalent. All eligible users can also participate by trading $15,000 or $35,000 equivalent on TradFi Contracts. TradFi Perpetual Contracts include various equity, ETF, and commodity contracts.

Rewards from each activity attempt range from 0.001464 XAUT to 0.209118 XAUT. Additionally, participants have a chance to win extra bonuses, including a MacBook Air, iPhone 17, or AirPods, with rewards distributed as their USDC equivalent value. All rewards, except for the XAUT token pool, will be distributed within 72 hours of completing an attempt, while the XAUT token pool rewards will be distributed within 14 business days after the activity ends.

The promotion is available for users in the CIS region, including Ukraine, and is subject to daily distribution limits. Binance reserves the right to modify or withdraw the promotion at its discretion. Participants must ensure their account verification and registration to qualify for rewards. All terms and conditions apply as per Binance's guidelines.

Japan's Liberal Democratic Party (LDP) Digital Headquarters recently deliberated on a proposal for next-generation finance, emphasizing stablecoins, tokenized deposits, and the tokenization of real-world assets. According to NS3.AI, Takuya Hirai highlighted the role of AI and blockchain in creating an automated financial system. He cautioned that the increasing use of dollar stablecoins is heightening competition for leadership in financial infrastructure. Hirai expressed concerns that Japan might encounter risks to its economic security and monetary sovereignty if it lags behind. The group is planning collaborative efforts between the public and private sectors to accelerate the development of on-chain infrastructure.

On May 12, a significant transfer of ONDO tokens was observed. According to BlockBeats On-chain Detection, the Ondo project's multi-signature address transferred 150 million ONDO tokens seven hours ago. Subsequently, 21.338 million ONDO tokens were moved to centralized exchanges (CEX) one hour ago.

OpenAI is reportedly preparing for an initial public offering (IPO), according to the Wall Street Journal. As the company moves forward with its plans, OpenAI CEO Sam Altman's personal investments are facing increasing scrutiny from Republican lawmakers. This development comes amid heightened attention on the financial activities of key figures in the AI industry.

Elon Musk's artificial intelligence model, Grok, is reportedly lagging behind its rapidly growing competitors. According to Odaily, a significant computing power leasing agreement between its parent company, SpaceX, and Anthropic has raised questions about Grok's ability to catch up with industry leaders.

Since its launch two years ago, Grok has attracted millions of users through its integration with Musk's social platform X and features like the controversial 'AI Companion.' However, recent data indicates that its growth momentum has stalled. Analysis from AppMagic reveals that Grok's downloads dropped to approximately 8.3 million in April this year, down from over 20 million in January.

A survey conducted by research firm Recon Analytics, involving over 260,000 U.S. AI users and professionals, shows that the percentage of respondents willing to pay for Grok remained nearly unchanged at 0.174% in the second quarter of 2026, compared to 0.173% a year earlier. In contrast, more than 6% of respondents reported having paid for ChatGPT.

Grayscale has filed an application to convert its existing Zcash Trust into a spot ETF, marking the first attempt to list a privacy coin ETF in the United States. According to ChainCatcher, this move comes as Multicoin Capital reveals its ongoing accumulation of ZEC since February. Co-founder Tushar Jain links the investment strategy to proposed U.S. wealth tax legislation, suggesting that increased government scrutiny of private financial holdings will drive demand for assets that offer regulatory shielding at a mathematical level.

The application, however, raises institutional custody challenges. Approximately 30% of Zcash's supply is held in shielded address pools, a historical high, while ETF custody typically requires the use of transparent address pools to meet audit and proof-of-balance requirements. Previously, the SEC concluded a long-term review of Zcash in January 2026 without enforcement action, significantly reducing regulatory uncertainty.

According to the announcement from Binance, the platform will implement updates to the collateral ratio and Tiered Collateral Ratio for PM Pro under Portfolio Margin, effective from 2026-05-15 06:00 (UTC). The update is expected to be completed within approximately 30 minutes. The assets affected include UNI, ENA, RAY, APE, and ZEC, with collateral ratios being adjusted. For instance, UNI and ENA will see their collateral ratios decrease from 60% to 50%, while ZEC's collateral ratio will increase from 30% to 50%.

In addition to these changes, Binance Futures will update the leverage and margin tiers for several USD-M Perpetual Contracts. This update is scheduled to be completed within approximately one hour. The changes will affect existing positions opened before the update, and users are advised to adjust accordingly to avoid potential issues. The leverage and margin tiers for contracts such as NAORISUSDT, ARCUSDT, MUSDT, and others will be revised. For example, the NAORISUSDT contract will see changes in leverage and maintenance margin rates across various position sizes, with leverage adjustments ranging from 1x to 20x depending on the notional value in USDT.

Binance emphasizes that users should closely monitor the Unified Maintenance Margin Ratio (uniMMR) to prevent potential liquidation or losses due to the changes in collateral ratios. The platform advises users to stay informed about the updates to ensure smooth trading operations. These updates reflect Binance's ongoing efforts to optimize its trading environment and risk management protocols. Users are encouraged to review the updated trading rules and leverage guidelines to align their strategies with the new parameters.

Aptos has announced plans to become the first Layer 1 blockchain to offer a native encrypted mempool, pending governance approval. According to ChainCatcher, this feature aims to ensure complete confidentiality of transaction intents without compromising transaction speed. The trust assumptions remain consistent with the network itself, providing protocol-level protection for users against frontrunning.

Fluid announced on Platform X that damage to Resolv infrastructure has resulted in approximately $21 million in bad debt. According to Odaily, a solution has been devised to address the remaining $19.3 million in debt: Resolv will cover about $9.7 million, Fluid's governance treasury will handle $8.2 million, and the Fluid team will take on $1.5 million. Fluid has destroyed all remaining USR tokens within the protocol at the contract level, allowing users to exchange them directly through Resolv.

To ensure long-term sustainability, Fluid will pause token buybacks, significantly reduce or eliminate FLUID token incentives, and the foundation will halt its monthly $250,000 grant from March to June. Additionally, its Solana DEX is expected to launch within six weeks.

OpenAI and Microsoft have reportedly agreed to set a cap of $38 billion on their total revenue sharing, according to a report by The Information on May 12. This development follows a renegotiation of their contract last month, allowing OpenAI to explore new partnerships with companies like Amazon and Google. According to Jin10, the arrangement may help OpenAI present a more attractive long-term growth outlook to investors. The company is currently moving towards an initial public offering (IPO), with some executives indicating that OpenAI could initiate the process as early as the end of this year.

Google's Threat Analysis Group has confirmed that cybercriminals have used artificial intelligence models to discover and exploit a zero-day vulnerability in a popular open-source web management tool, according to ChainCatcher. This vulnerability allowed attackers to bypass two-factor authentication. Google stated that this marks the first time the company has identified AI-assisted zero-day vulnerability development in a real-world scenario. Before attackers could exploit the vulnerability on a large scale, Google collaborated with the affected vendors to patch the issue. The vulnerability was identified as a logic error, where the software trusted a condition that could bypass two-factor authentication. Unlike traditional scanners that search for crashes or erroneous code, AI analyzed the software's expected functionality and detected logical inconsistencies, enabling attackers to bypass security checks without compromising encryption.

Kim Sang-hoon announced plans to advance discussions on a fundamental digital asset act centered around stablecoins following the forthcoming local elections. According to NS3.AI, the bill was initially set for debate in a National Assembly subcommittee today but was subsequently taken off the agenda.

On May 12, Ethereum's meme coin Sato experienced a significant market surge, with its value increasing by 70% within an hour, reaching a peak of $38.3 million. According to BlockBeats On-chain Detection, the current value stands at $37.8 million, with a 24-hour trading volume of $4.5 million.

During the surge, multiple platforms reported a 'spike' phenomenon, where the price briefly dropped to $23 million after reaching a new high, before quickly recovering.

In contrast, another token under the Uniswap v4 hook concept, Sat1, has been struggling recently. Its current market value is only $440,000, with a 24-hour decline of 23%.

BlockBeats notes that meme coin trading is highly volatile, often driven by market sentiment and speculative concepts, lacking intrinsic value or practical use cases. Investors are advised to be cautious of the risks involved.

Telegram founder Pavel Durov announced on the X platform that the development efficiency of TON has increased tenfold. According to Odaily, the new toolchain, acton, simplifies the creation, testing, and deployment of smart contracts and is fully AI-ready. This toolchain replaces TON's previous fragmented tool stack, creating a unified development process.

Silver prices have seen a significant rise, reaching a high of $87, according to BlockBeats On-chain Detection. Hyperliquid reports the SILVER contract at $85.8, marking a 7% increase over 24 hours, the highest in nearly two months.

Among the large-scale investors who have recently entered the market, only one bearish investor remains, holding a position worth $1.72 million with a liquidation price of $88.26, just 2.5% above the current price. If silver continues to rise above $88, this investor could be the first to face liquidation in this upward trend.

The most profitable address in this surge, 0x9e8, leveraged a 20x long position during the main upward wave last night, with a scale of $5.17 million at an average price of $81.2. This position has already yielded an unrealized profit of approximately $270,000, more than doubling the initial investment.

U.S. President Donald Trump and Chinese President Xi Jinping are set to meet in Beijing on Thursday and Friday to address significant disagreements over trade and the ongoing US-Israeli conflict with Iran. Bloomberg posted on X, highlighting the importance of these discussions amid escalating tensions. The talks aim to find common ground on trade issues that have strained relations between the two nations. Additionally, the leaders are expected to discuss the implications of the US-Israeli conflict with Iran, seeking ways to manage the situation diplomatically. The outcome of these meetings could have far-reaching impacts on global economic and geopolitical stability.

According to the announcement from Binance, the exchange has revised its rebate structure for Binance Link clients, introducing tier adjustments based on trading volume and user activity. To qualify for rebates of up to 50%, clients must meet specific thresholds for average monthly trading volume and the average number of active trading users over a quarterly period. The tier system includes Bronze, Silver, and Gold levels, each with distinct requirements and benefits.

The Bronze tier requires a spot volume of at least 40,000 USDT or futures volume of 80,000 USDT, with a minimum of 10 spot users or 5 futures users. Silver tier clients must achieve a spot volume of 40,000,000 USDT or futures volume of 200,000,000 USDT, alongside 40 spot users or 20 futures users. The Gold tier demands a spot volume of 200,000,000 USDT or futures volume of 1,000,000,000 USDT, with 200 spot users or 100 futures users. Rebates for the Spot OMS Toolkit range from 40% to 50%, while Futures OMS Toolkit rebates remain at 30% across all tiers.

Binance Link clients will receive updates on tier adjustments at the beginning of each quarter. Newly onboarded clients will have a fixed rebate period of three months without participating in tier reviews. Rebates are applicable only to trades completed by regular and VIP 1-2 users, and clients are prohibited from distributing these rebates to their users. Binance reserves the right to amend rewards or disqualify clients if fraudulent activity is detected. For inquiries, users can contact link@binance.com. The announcement emphasizes that discrepancies may exist between the original English content and translated versions.

HSBC Global Research has increased the target price for SK Hynix from 1.8 million KRW to 2.9 million KRW. According to Odaily, this adjustment reflects the latest evaluation by the research team.

JPMorgan released a report on May 12, reaffirming its target price of HKD 35 and a 'neutral' rating for Xiaomi Group (01810.HK). According to Jin10, the bank noted that despite a significant year-on-year decline in revenue growth in the smartphone and electric vehicle sectors for the first quarter of 2026, Xiaomi's overall adjusted net profit might exceed expectations due to improved gross margins in smartphones and IoT. Memory cost pressures are expected to persist into the second quarter, with DRAM and NAND prices potentially rising by 40-60% quarter-on-quarter. However, Xiaomi may defend its gross margin, which is around 8%, by increasing prices and exiting certain market segments. The bank forecasts a 27% year-on-year decrease in earnings per share for the 2026 fiscal year, which is still 12% below market consensus. A new concern has emerged regarding Xiaomi's electric vehicle shipments, which totaled only 110,000 units from the beginning of the year to April. There is uncertainty about whether Xiaomi can achieve its target of over 550,000 electric vehicle shipments. The bank believes that if electric vehicle shipments do not increase in the second quarter, Xiaomi is likely to lower its guidance for the 2026 fiscal year. Given these factors, the bank slightly adjusted its earnings per share forecast for the company while maintaining its target price and 'neutral' rating.

The updated legislative text includes a resolution to ongoing discussions about stablecoin rewards and language aimed at protecting software developers, according to The Block. This development is part of broader efforts to refine regulatory frameworks surrounding digital assets, ensuring both innovation and security in the rapidly evolving crypto landscape. The changes reflect a growing recognition of the need to balance technological advancement with regulatory oversight.

Kazakhstan's Ministry of Economy reported that the country's GDP grew by 3.6% from January to April. According to Jin10, industrial output during the same period increased by 2.1%.

Japan's March leading indicator preliminary value was reported at 114.5, aligning with expectations, according to Jin10. The previous value was recorded at 113.3.

On May 12, Titan Company Limited, India's largest jewelry retailer, stated that any government measures to limit gold purchases could lead to a temporary slowdown in demand. According to Jin10, Titan's Chief Financial Officer, Ashok Santha, assured that the company's gold supply should remain stable over the next three to four months. He emphasized that local demand is expected to remain resilient in the long term.

The Shenzhen Component Index saw a decline of over 1% in the afternoon, according to ChainCatcher. Additionally, the Shanghai Composite Index fell by 0.4%, while the ChiNext Index decreased by 0.5%.

Malaysia will move forward with its fuel subsidy reform, even as the possibility of a general election looms this year, according to Deputy Finance Minister Liew Chin Tong. Bloomberg posted on X that the government remains committed to its reform agenda, aiming to ensure economic stability and sustainability. The decision to continue with the subsidy reform reflects Malaysia's focus on long-term fiscal health, despite potential political challenges. The reform is part of broader efforts to address fiscal deficits and optimize resource allocation. The government has not provided specific details on the timeline or the nature of the reforms, but it emphasizes the importance of maintaining economic resilience in the face of global uncertainties.

Consensys has submitted a comment letter to the U.S. Securities and Exchange Commission (SEC) regarding the latest interpretive framework for crypto assets. According to ChainCatcher, Consensys expressed concerns that the framework might create regulatory gaps, leading to compliance uncertainties for self-custody wallet providers like MetaMask.

The company has requested that the SEC consider a targeted safe harbor or other exemptions to clarify that self-custody, user-driven interfaces supporting transactions of non-security crypto assets, which may involve investment contracts, do not need to register as broker-dealers.

Consensys emphasized that this move is intended to ensure that U.S. users can continue to access open and neutral peer-to-peer blockchain tools.

HSBC Research released a report on May 12, indicating that the S&P 500 index has returned to its historical high as technology stocks recover. According to Jin10, the robust first-quarter earnings season has also provided support. The bank has raised its 2026 earnings per share forecast for the index by 8%, incorporating the latest quarterly results. HSBC now expects a 20% growth in earnings per share in 2026, reaching $325, with technology stocks and the 'Magnificent Seven' of U.S. equities being the main drivers. Based on higher earnings expectations, the bank has increased its year-end target for the S&P 500 index from the previous 7,500 points to 7,650 points.

OpenAI is projected to save $97 billion by 2030 as part of its latest agreement with Microsoft, according to The Information. This significant cost-saving measure is expected to enhance OpenAI's financial efficiency over the coming years.

CleanSpark has released its financial results for the first quarter of fiscal year 2026. According to ChainCatcher, the company reported a revenue of $136.4 million, marking a 24.9% decrease compared to the same period last year. The net loss for the quarter was $378.3 million, up from a net loss of $138.8 million in the previous year. The adjusted EBITDA stood at negative $241.2 million.

The company also highlighted a doubling of its contracted power capacity year-over-year, including 585 MW approved by ERCOT. Additionally, CleanSpark's Bitcoin holdings increased by 14% year-over-year, with average monthly hash rate growing by 18%.

As of March 31, 2026, CleanSpark held $260.3 million in cash, Bitcoin assets valued at $925.2 million, and total assets amounting to $2.9 billion.