Industry News

Tracks company news, strategic changes, funding activities, and personnel adjustments across the blockchain and crypto industries, delivering a full-spectrum industry overview for our users.

DeepSeek Funding: Liang Wenfeng's 'Realist' Pivot

DeepSeek, a leading Chinese AI company, has initiated its first external funding round, aiming to raise at least $300 million at a valuation of no less than $10 billion. This move marks a significant shift from its founder Liang Wenfeng’s previous idealistic stance of rejecting external capital to maintain independence. Despite strong financial backing from its parent company, quantitative trading firm幻方量化 (Huanfang Quant), which provided an estimated $700 million in revenue in 2025 alone, DeepSeek faces mounting challenges. Key issues include a 15-month gap in major model updates, delays in its flagship V4 release, and the loss of several core researchers to competitors offering significantly higher compensation. The company is also undergoing a strategic pivot by migrating its infrastructure from NVIDIA’s CUDA to Huawei’s Ascend platform, a move aligned with China’s push for technological self-reliance amid U.S. export controls. However, DeepSeek lags behind rivals like智谱AI and MiniMax—both now publicly listed—in areas such as product ecosystem, multimodal capabilities, and commercialization. The funding round, though relatively small in scale, is seen as a way to establish a market-validated valuation anchor, making employee stock options more competitive and facilitating talent retention. It also signals DeepSeek’s transition from a pure research-oriented organization to a commercially-driven player in the global AI ecosystem.

marsbit35m ago

DeepSeek Funding: Liang Wenfeng's 'Realist' Pivot

marsbit35m ago

6,000 CEOs Admit AI 'Did Nothing', Yet It Was Used to Lay Off 40,000 People in Q1 This Year

A study by the National Bureau of Economic Research (NBER) surveying 6000 executives across four countries reveals that nearly 90% of businesses report AI has had "no measurable impact" on employment or productivity over the past three years. Despite global AI investments exceeding $250 billion in 2024, only 12% of CEOs reported both cost reductions and revenue growth from AI. Contrastingly, in Q1 2026, the industry saw 78,557 tech job cuts, with 47.9% attributed to AI and automation. Critics label this contradiction an "AI version of the Solow Paradox," referencing the visible lack of AI's effect in productivity data amid widespread adoption. While some leaders, like Anthropic’s CEO, predict AI will eliminate half of entry-level white-collar jobs, others accuse firms of "AI washing"—using AI as a pretext for layoffs originally planned due to over-hiring or weak demand. However, companies like IBM and Cognizant are bucking the trend by increasing entry-level hiring and retraining staff to work alongside AI. Economists suggest a "J-curve" effect may be underway, where initial productivity stagnation is followed by significant gains, as was seen with IT in the 1990s. The transition remains challenging, with true productivity improvements expected within 6–12 months.

marsbit49m ago

6,000 CEOs Admit AI 'Did Nothing', Yet It Was Used to Lay Off 40,000 People in Q1 This Year

marsbit49m ago

When Top Crypto VCs Are Shrinking Across the Board, Why Has This Firm Grown by 150%?

In a declining crypto market where top venture capital firms like Paradigm, Pantera, a16z crypto, and Multicoin saw significant reductions in assets under management (AUM), Haun Ventures stood out with a 150% growth, increasing its AUM from $1 billion to $2.5 billion by 2025. Founded by Katie Haun, a former federal prosecutor and a16z crypto veteran, the firm combines regulatory insight with investment discipline. Initially investing heavily in NFTs during the 2022 hype, Haun Ventures quickly pivoted as the bubble burst, adopting a cautious approach with only six investments over the following 18 months. The firm balanced its portfolio between digital tokens and traditional equity, allocating about 30% to liquid tokens like Bitcoin and Ethereum, which contributed significantly to returns as Bitcoin’s price surged. By 2024, Haun Ventures shifted focus to B2B solutions in payments and developer infrastructure, leading over 56% of its investment rounds—the highest rate among top VCs. This strategy paid off with several high-multiple exits via acquisitions, such as Bridge (acquired at $1.1 billion from a $200 million valuation) and BVNK (acquired at $1.8 billion from a $750 million valuation). The firm’s success is attributed to its regulatory foresight, adaptive strategy, high-conviction lead investments, and emphasis on real-world utility and exit efficiency—making it a standout performer during the crypto downturn.

marsbit1h ago

When Top Crypto VCs Are Shrinking Across the Board, Why Has This Firm Grown by 150%?

marsbit1h ago

Ant Digital Tech Proposes New Architecture for Agent Economy, Covering Four Layers: Identity, Payment, Risk Control, and Compliance

Ant Digital Technologies (Ant Digital) has introduced a new architectural framework for the agentic economy, named the "4R Full-Stack Architecture," at the Hong Kong Web3 Festival. The framework is designed to address four core challenges in AI agent operations: identity, payment, risk control, and compliance. The four layers include: - **Agentic Runtime**, featuring DTClaw with the CARLI security model to enforce behavioral constraints and ensure controllability and auditability; - **Payment Rails**, which provide on-chain payment channels supporting smart decision-making, verifiable credentials, instant settlement, and cross-chain asset transfers; - **Agent Registry**, leveraging DIDs and the ERC-8004 standard to assign verifiable on-chain identities to agents; - **Root Infrastructure**, built on Jovay Layer2 and ZKVM technology to enable high-speed micro-payments and trusted off-chain computation with on-chain verification. According to CTO Yan Ying, the architecture aims to resolve fundamental gaps in the current agent economy—such as execution vulnerabilities, identity issues, payment barriers, and trust deficits—by redesigning underlying infrastructure rather than applying superficial fixes. The initiative builds on Ant Digital’s extensive experience in financial-grade security, privacy computing, and blockchain.

marsbit2h ago

Ant Digital Tech Proposes New Architecture for Agent Economy, Covering Four Layers: Identity, Payment, Risk Control, and Compliance

marsbit2h ago

The $290 Million Deficit: A Three-Way Game Between Aave, L0, and Kelp—Who Should Foot the Bill?

An incident involving the theft of 116,500 rsETH (worth approximately $290 million) from Kelp DAO’s cross-chain bridge contract has triggered a complex dispute over responsibility and compensation among Kelp DAO, LayerZero, and Aave. The attack occurred due to a compromised RPC provider used by LayerZero’s Decentralized Verifier Network (DVN). Since Kelp DAO’s bridge used a 1/1 DVN configuration—a single point of failure—the attacker successfully forged a cross-chain message, leading to the unauthorized release of rsETH tokens from the mainnet. These genuine tokens were then deposited into Aave and other lending platforms to borrow WETH, enabling the attacker to exit with the funds. Responsibility is attributed primarily to Kelp DAO for its risky 1/1 DVN setup. LayerZero bears secondary responsibility for permitting such a vulnerable configuration in its protocol layer. Aave also shares indirect blame for over-collateralizing rsETH and other Liquid Restaking Token (LRT) assets without adequate ongoing risk oversight. Kelp DAO lacks sufficient funds to cover the loss, shifting focus to the deeper-pocketed players: LayerZero, whose cross-chain ecosystem and reputation are at risk, and Aave, which faces massive bad loans and declining Total Value Locked (TVL). Aave has asserted that mainnet rsETH remains fully backed, implying it expects Kelp DAO to allow redemption of underlying ETH. This approach would preserve Aave’s mainnet positions but invalidate Layer2 rsETH, damaging LayerZero’s cross-chain credibility. Potential solutions include: - A universal 18.5% haircut on all rsETH holders, causing significant Aave bad debt. - Writing off Layer2 rsETH entirely, protecting Aave mainnet but harming LayerZero and Kelp DAO. - Negotiating a bounty with the hacker for partial fund return. - A joint bailout, possibly led by LayerZero’s ecosystem fund, given its long-term stake in the cross-chain ecosystem. The situation remains unresolved as the parties negotiate, but prolonged delay risks broader DeFi instability, including potential liquidity crises and loss of confidence in LRT and cross-chain infrastructures.

Odaily星球日报3h ago

The $290 Million Deficit: A Three-Way Game Between Aave, L0, and Kelp—Who Should Foot the Bill?

Odaily星球日报3h ago

On the Same Day Aave Introduced rsETH, Why Did Spark Choose to Exit?

On April 18, Kelp DAO's cross-chain bridge was exploited, resulting in the malicious minting of 116,500 unbacked rsETH. The attacker deposited these into Aave and borrowed WETH, creating a potential bad debt of approximately $195 million. Aave’s Guardian quickly froze the market, but the protocol’s insurance could only cover about 25% of the loss. In contrast, SparkLend, a lending protocol in the MakerDAO ecosystem, suffered no direct losses. This was not due to superior foresight but rather a preemptive governance decision. On January 29, Spark executed a governance action to discontinue new rsETH supply, citing low usage and high concentration from a single wallet. The same day, Aave expanded its rsETH market by enabling E-Mode with a 93% LTV to attract more deposits. Spark’s risk management framework is designed to remove assets with low usage or poor risk-adjusted returns, regardless of external security concerns. Aave’s decision was growth-oriented, aiming to boost WETH utilization and attract capital. Spark also employs additional safeguards: rate-limited supply and borrow caps that would have limited the scale of such an attack, and a robust oracle system using the median of three price feeds. These mechanisms systemically contain the maximum exposure to any single risk event, demonstrating a fundamentally different approach to risk than Aave’s growth-first model.

marsbit3h ago

On the Same Day Aave Introduced rsETH, Why Did Spark Choose to Exit?

marsbit3h ago

Crypto Prices Drop On The Weekend As Iran Shuts Strait Of Hormuz Again

Cryptocurrency prices declined over the weekend following Iran's decision to reclose the Strait of Hormuz, reversing the positive market reaction to its brief reopening. Bitcoin fell below $76,000 after reaching a 10-week high of $77,500, while Ethereum dropped to around $2,350. The global crypto market cap decreased by more than 2%, with major altcoins like XRP and Solana also experiencing losses. The renewed geopolitical tension has reintroduced volatility and uncertainty, casting doubt on earlier optimism about a market recovery. Further price fluctuations are expected if diplomatic tensions between the U.S. and Iran continue.

bitcoinist4h ago

Crypto Prices Drop On The Weekend As Iran Shuts Strait Of Hormuz Again

bitcoinist4h ago

Anthropic's One Trillion vs. DeepSeek's 10 Billion

In April 2026, Anthropic's implied valuation briefly surpassed $1 trillion in secondary markets, despite its last official valuation being $380 billion. Its annualized revenue surged to $30 billion, largely driven by enterprise adoption of Claude Code. However, OpenAI accused Anthropic of inflating revenue by $80 billion through gross accounting. Anthropic is not expected to be profitable until 2027. Meanwhile, DeepSeek, after three years of rejecting external funding, announced its first fundraising round targeting a valuation over $10 billion. Founder Liang Wenfeng had prioritized independence and research over capital, citing chip shortages as a bigger constraint than funding. The move aims to address talent retention challenges and potential shifts toward commercialization. Both companies represent different AI philosophies: Anthropic’s closed-source, enterprise-focused model contrasts with DeepSeek’s open-source, research-driven approach. Each faces core challenges—Anthropic must justify its valuation with eventual profits, while DeepSeek must balance growth with its founding vision amid new investors.

marsbit6h ago

Anthropic's One Trillion vs. DeepSeek's 10 Billion

marsbit6h ago

An Open-Source AI Tool That No One Saw Predicted Kelp DAO's $292 Million Vulnerability 12 Days Ago

An open-source AI security tool flagged critical risks in Kelp DAO’s cross-chain architecture 12 days before a $292 million exploit on April 18, 2026—the largest DeFi incident of the year. The vulnerability was not in the smart contracts but in the configuration of LayerZero’s cross-chain bridge: a 1-of-1 Decentralized Verifier Network (DVN) setup allowed an attacker to forge cross-chain messages with a single compromised node. The tool, which performs AI-assisted architectural risk assessments using public data, identified several unremediated risks, including opaque DVN configuration, single-point-of-failure across 16 chains, unverified cross-chain governance controls, and similarities to historical bridge attacks like Ronin and Harmony. It also noted the absence of an insurance pool, which amplified losses as Aave and other protocols absorbed nearly $300M in bad debt. The attack unfolded over 46 minutes: the attacker minted 116,500 rsETH on Ethereum via a fraudulent message, used it as collateral to borrow WETH on lending platforms, and laundered funds through Tornado Cash. While an emergency pause prevented two subsequent attacks worth ~$200M, the damage was severe. The tool’s report, committed to GitHub on April 6, scored Kelp DAO a medium-risk 72/100—later acknowledged as too lenient. It failed to query on-chain DVN configurations or initiate private disclosure, highlighting gaps in current DeFi security approaches that focus on code audits but miss config-level and governance risks. The incident underscores the need for independent, AI-powered risk assessment tools that evaluate protocol architecture, not just code.

marsbit8h ago

An Open-Source AI Tool That No One Saw Predicted Kelp DAO's $292 Million Vulnerability 12 Days Ago

marsbit8h ago

Figma's Stock Drops Over 7%, Is Claude Design the One to End It All?

Figma's stock fell over 7% following Anthropic's announcement of Claude Design, an experimental AI-powered design tool. Driven by the Opus 4.7 model, Claude Design generates prototypes, slides, and visual content, directly challenging Figma and Canva. A key feature is its seamless handoff capability to Claude Code, enabling a closed loop from design to development. The tool automatically reads existing code and design files to create tailored design systems, though early users report high token usage and bugs. The release follows a series of strategic moves by Anthropic, including limited releases of advanced models and high-level regulatory meetings. With a rumored $800 billion valuation and potential IPO by October, Anthropic is shifting from selling AI models to building end-user products, positioning itself as a competitor rather than just a partner to its API users. While Claude Design is not yet a full replacement for professional tools, it threatens to redefine Figma’s user base by enabling rapid prototyping for non-designers and small teams.

marsbit8h ago

Figma's Stock Drops Over 7%, Is Claude Design the One to End It All?

marsbit8h ago