Alibaba's Qwen 3.7 Max-Preview debuted on Arena AI on May 14 and ranked No. 13 globally in text. Alibaba said the Plus variant will be open source, while the Max flagship will remain proprietary, with a full release expected after the Cloud Summit on May 20.
SEC Commissioner Hester Peirce will step down in November after accepting an associate professor role at Regent University School of Law. Peirce joined the SEC in January 2018 and became known as "Crypto Mom" for supporting the crypto industry.
U.S. President Donald Trump said the United States is in the process of liberating Cuba and must help the Cuban people. Trump also said the situation in Cuba will not escalate.
U.S. Nimitz Strike Group Arrives in Caribbean as Cuba Tensions Rise
The U.S. Nimitz carrier strike group has arrived in the Caribbean Sea amid rising tensions with Cuba. On the same day, the Trump administration said it would indict former Cuban leader Raul Castro, and Cuban authorities had previously warned that such an indictment could be used as a pretext for military intervention.
FOMC Minutes Show Longer Path to 2% Inflation, Leave Door Open to Further Tightening
FOMC minutes from the April meeting showed most officials see a longer path back to 2% inflation and said further tightening could be needed if inflation stays persistently above target. Officials cited higher energy prices, the Middle East conflict, tariffs, and AI-related investment costs as upside inflation risks. Officials also said rate cuts could become appropriate if inflation eases further or labor market conditions weaken materially.
Hester Peirce will join Regent University School of Law as an associate professor in November 2026, marking the planned end of her SEC tenure. Peirce has served in holdover capacity since her second five-year term expired in June 2025.
Hunter Biden added Bitcoin as a payment option for artwork on his official website, where the footer now states "BITCOIN ACCEPTED." The site also links to Verisart Authentication, which provides blockchain-based certificates of authenticity for artworks.
OpenAI Prepares September IPO Filing After Musk Lawsuit Dismissal
OpenAI is reportedly preparing for a September IPO at a private valuation above $900 billion. Goldman Sachs and Morgan Stanley are reportedly preparing confidential paperwork that could be filed within days or weeks, after Elon Musk's lawsuit challenging OpenAI's structure was dismissed on Monday.
Iran said it received a new US proposal in response to its 14-point plan and is reviewing it. Pakistani mediators are trying to narrow differences, but no final agreement has been reached.
Iranian President Meets Pakistani Interior Minister on Iran-US Indirect Talks
Iranian President Masoud Pezeshkian met Pakistani Interior Minister Mohsin Naqvi to discuss regional conditions, bilateral ties, and Iran-US indirect talks. The talks focused on the latest developments in the diplomatic process, and the Pakistani side emphasized continued dialogue and mutual understanding.
Fed Minutes Show Officials Shift From Rate Cut Debate to Possible Hikes
Fed minutes showed officials had largely stopped debating rate cuts and more seriously considered whether rate hikes may be needed if inflation stays above 2%. The April policy meeting minutes said many participants saw further tightening as appropriate under persistent inflation. The minutes also highlighted that the Middle East conflict reshaped the committee's outlook.
Securitize Posts Record $19.5M Q1 Revenue, Targets Nasdaq SPAC Listing
Securitize posted record revenue of $19.5 million in the first quarter of this year and said it plans a Nasdaq listing in the second half of this year. The planned listing would use the ticker SECZ through a SPAC merger with Cantor Equity Partners II. Securitize linked the quarter to institutional work that included NYSE digital platform eligibility for ETF blockchain securities and BlackRock's BUIDL integration with UniswapX.
Hyperliquid Tops $50 as Open Interest Hits $1.92B During Rally
Hyperliquid rose to $51.55, up 7.17% from yesterday, after moving above $50. Santiment said negative funding rates on May 18 and 19 showed a build-up of large short positions before the move. Santiment linked the rally to institutional inflows after an ETF launch and said open interest reached $1.92 billion.
CME plans to launch Bitcoin volatility futures on June 1, with each contract valued at the BVXS index level times $500. The BVI contract has received CFTC certification and will let investors trade or hedge Bitcoin implied volatility rather than BTC price direction.
Securitize reports record $19.5M quarter as SPAC merger advances listing plan
Securitize reported record first-quarter revenue of $19.5 million, up 39% year over year. Net loss widened to $7.9 million as the tokenization platform increased spending on expansion and public-company preparation. Securitize said its proposed merger with Cantor Equity Partners II remains its route toward a public listing.
Steakhouse Fi widened its lead over the second-largest Morpho vault curator to about $1 billion, based on Token Terminal data. The gap was virtually nonexistent a year ago, highlighting rapid growth and concentration in Morpho's curator market.
VerifiedX launched vBTC.b on Base with Fireblocks support, describing it as a non-synthetic Bitcoin asset with native Bitcoin redemption. The foundation said the Base launch opens access for DeFi users, while the Fireblocks listing targets institutional self-custody demand.
OpenAI is preparing to file for an IPO in the coming days or weeks after reaching an $852 billion valuation in a recent funding round. The company could launch the IPO as soon as this Friday and aims to be ready to go public as early as September, although the plans remain fluid and could still change.
Securitize Posts Record Q1 Revenue as Tokenized AUM Hits $3.4 Billion
Securitize posted record Q1 revenue of $19.5 million as tokenized assets under management reached $3.4 billion as of March 31. Q1 transaction volume reached $1.9 billion. The quarter also included a New York Stock Exchange collaboration for tokenized ETF securities and a new Uniswap Labs integration for BlackRock's BUIDL fund.
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