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According to Beating Monitoring, Mianbi Intelligence and Tsinghua NLP Laboratory have jointly open-sourced the world's first production-level pre-training framework, ForgeTrain, entirely written by AI, within the OpenBMB community. They also released MiniCPM5-1B, a small model trained using ForgeTrain. As the first example demonstrating a closed-loop 'AI manufacturing AI' project, ForgeTrain outperforms NVIDIA's Megatron under the same hardware conditions and achieves a 10% acceleration when pre-trained on Huawei's Ascend. Additionally, MiniCPM5-1B topped the Artificial Analysis leaderboard for open-weight small models. To enable AI to autonomously build foundational pre-training infrastructure, Mianbi Intelligence proposed the 'Forge Engineering' software programming paradigm, moving away from a universal framework compatible with all hardware and tasks, and instead leveraging AI's low-cost code generation capabilities to forge dedicated code for specific models and hardware on-site. In terms of construction mechanism, ForgeTrain employs a three-stage approach: first, it collects key data from existing pre-training frameworks to form a testing harness; next, it iteratively generates binary-consistent framework code in an automated closed loop; and finally, it lifts restrictions to surpass the reference implementation. This entire automated evolution corresponds to the L3 to L4 stages of AI manufacturing AI. As the first output model of ForgeTrain, MiniCPM5-1B features 1.08 billion parameters, with a core architecture based on the standard LlamaForCausalLM design, significantly lowering the barriers for downstream integration and inference deployment. In the Artificial Analysis evaluation, the model scored 18, surpassing the 2B scale Qwen3.5-2B (16 points), and leading over Qwen3.5-0.8B (11 points) and LFM2.5-1.2B-Thinking (8 points). The model supports deployment formats such as MLX 4-bit and GGUF Q4_K_M, with INT4 quantized weights of only 0.5GB, and natively supports long text contexts of 131,072 tokens along with mixed dual-mode inference based on enable_thinking. Leveraging extremely low hardware overhead, OpenBMB has also open-sourced a purely offline desktop companion application, MiniCPM Desk Pet, which supports real-time responses to coding activities in development tools like Cursor and LoRA character switching.

[World's First AI-Written Pre-Training Framework Open-Sourced: ForgeTrain by Tsinghua and Mianbi]According to Beating Monitoring, Mianbi Intelligence and Tsinghua NLP Laboratory have jointly open-sourced the world's first production-level pre-training framework, ForgeTrain, entirely written by AI, within the OpenBMB community. They also released MiniCPM5-1B, a small model trained using ForgeTrain. As the first example demonstrating a closed-loop 'AI manufacturing AI' project, ForgeTrain outperforms NVIDIA's Megatron under the same hardware conditions and achieves a 10% acceleration when pre-trained on Huawei's Ascend. Additionally, MiniCPM5-1B topped the Artificial Analysis leaderboard for open-weight small models. To enable AI to autonomously build foundational pre-training infrastructure, Mianbi Intelligence proposed the 'Forge Engineering' software programming paradigm, moving away from a universal framework compatible with all hardware and tasks, and instead leveraging AI's low-cost code generation capabilities to forge dedicated code for specific models and hardware on-site. In terms of construction mechanism, ForgeTrain employs a three-stage approach: first, it collects key data from existing pre-training frameworks to form a testing harness; next, it iteratively generates binary-consistent framework code in an automated closed loop; and finally, it lifts restrictions to surpass the reference implementation. This entire automated evolution corresponds to the L3 to L4 stages of AI manufacturing AI. As the first output model of ForgeTrain, MiniCPM5-1B features 1.08 billion parameters, with a core architecture based on the standard LlamaForCausalLM design, significantly lowering the barriers for downstream integration and inference deployment. In the Artificial Analysis evaluation, the model scored 18, surpassing the 2B scale Qwen3.5-2B (16 points), and leading over Qwen3.5-0.8B (11 points) and LFM2.5-1.2B-Thinking (8 points). The model supports deployment formats such as MLX 4-bit and GGUF Q4_K_M, with INT4 quantized weights of only 0.5GB, and natively supports long text contexts of 131,072 tokens along with mixed dual-mode inference based on enable_thinking. Leveraging extremely low hardware overhead, OpenBMB has also open-sourced a purely offline desktop companion application, MiniCPM Desk Pet, which supports real-time responses to coding activities in development tools like Cursor and LoRA character switching.

World's First AI-Written Pre-Training Framework Open-Sourced: ForgeTrain by Tsinghua and Mianbi

On May 26, Bitcoin's expected volatility significantly dropped to a nine-month low. The Bitcoin VIX index, which reflects the 30-day expected volatility based on options pricing, fell to 36.11, the lowest since September of last year, and is approaching the lowest point of 2023. Diminished trading activity, coupled with speculative funds shifting from Bitcoin to other assets, has led to a reduced demand for options protection. Bitcoin's price has also retreated to levels near those seen since September of last year, resulting in an overall 'breather' in the crypto market. Market sentiment remains relatively calm, and volatility is expected to stay low in the short term.

[Bitcoin Volatility Nears 2023 Low as Crypto Market Enters 'Calm Breather']On May 26, Bitcoin's expected volatility significantly dropped to a nine-month low. The Bitcoin VIX index, which reflects the 30-day expected volatility based on options pricing, fell to 36.11, the lowest since September of last year, and is approaching the lowest point of 2023. Diminished trading activity, coupled with speculative funds shifting from Bitcoin to other assets, has led to a reduced demand for options protection. Bitcoin's price has also retreated to levels near those seen since September of last year, resulting in an overall 'breather' in the crypto market. Market sentiment remains relatively calm, and volatility is expected to stay low in the short term.

Bitcoin Volatility Nears 2023 Low as Crypto Market Enters 'Calm Breather'

Glassnode tweeted that at the current price, approximately 7.75 million BTC are in a state of loss. This oversupply is a structural characteristic of a bear market and is typically resolved only when weak hands capitulate.

[Glassnode: Approximately 7.75 Million BTC Currently in Loss]Glassnode tweeted that at the current price, approximately 7.75 million BTC are in a state of loss. This oversupply is a structural characteristic of a bear market and is typically resolved only when weak hands capitulate.

Glassnode: Approximately 7.75 Million BTC Currently in Loss

On May 26, CoinShares released its latest weekly report, indicating that digital asset investment products experienced a net outflow of $1.47 billion last week, marking the second consecutive week of negative growth and the third-largest weekly outflow in 2026. The total outflow over the past two weeks has reached $2.54 billion. By asset type, Bitcoin saw an outflow of $1.315 billion, the largest weekly outflow in 2026, reducing its year-to-date inflow from $3.9 billion to $2.6 billion. Ethereum recorded an outflow of $223 million, remaining roughly stable compared to the previous week. Some altcoins still saw slight inflows, with XRP gaining $31.8 million, Near $9 million, and Solana $7.7 million. By region, the United States dominated the outflow pattern with a weekly outflow of $1.425 billion, while Switzerland, Canada, and Hong Kong saw outflows of $16.2 million, $12.5 million, and $12.2 million, respectively. Risk aversion sentiment has spread from localized areas to most regions globally. CoinShares noted that the outflows are closely related to rising geopolitical risks associated with Iran. Despite the ongoing legislative progress of the CLARITY Act, market risk aversion continues to deepen.

[Digital Asset Investment Products See $1.47 Billion Net Outflow Last Week, Bitcoin Records Largest Weekly Outflow of $1.315 Billion in 2026]On May 26, CoinShares released its latest weekly report, indicating that digital asset investment products experienced a net outflow of $1.47 billion last week, marking the second consecutive week of negative growth and the third-largest weekly outflow in 2026. The total outflow over the past two weeks has reached $2.54 billion. By asset type, Bitcoin saw an outflow of $1.315 billion, the largest weekly outflow in 2026, reducing its year-to-date inflow from $3.9 billion to $2.6 billion. Ethereum recorded an outflow of $223 million, remaining roughly stable compared to the previous week. Some altcoins still saw slight inflows, with XRP gaining $31.8 million, Near $9 million, and Solana $7.7 million. By region, the United States dominated the outflow pattern with a weekly outflow of $1.425 billion, while Switzerland, Canada, and Hong Kong saw outflows of $16.2 million, $12.5 million, and $12.2 million, respectively. Risk aversion sentiment has spread from localized areas to most regions globally. CoinShares noted that the outflows are closely related to rising geopolitical risks associated with Iran. Despite the ongoing legislative progress of the CLARITY Act, market risk aversion continues to deepen.

Digital Asset Investment Products See $1.47 Billion Net Outflow Last Week, Bitcoin Records Largest Weekly Outflow of $1.315 Billion in 2026

On May 26, Reuters reported that Isabel Schnabel, a member of the European Central Bank's governing council and a potential candidate for ECB president, stated that even if the U.S. and Iran achieve results in peace negotiations, the ECB should still initiate a rate hike in June. She believes that the current energy shock is lasting much longer than expected, and damage to energy infrastructure along with supply chain disruptions have pushed high energy prices into broader economic sectors. Schnabel pointed out that inflation in the Eurozone has risen to 3%, with further upward risks still present. There are concerns within the ECB that high energy costs are driving up prices for goods and services through 'second-round effects,' creating more persistent inflationary pressures. She emphasized that the ECB's previous baseline forecast included two rate hikes, and a single action may not be sufficient to achieve the inflation control target.

[ECB Governing Council Member: Rate Hike Still Needed in June Even if Iran Reaches Peace Agreement]On May 26, Reuters reported that Isabel Schnabel, a member of the European Central Bank's governing council and a potential candidate for ECB president, stated that even if the U.S. and Iran achieve results in peace negotiations, the ECB should still initiate a rate hike in June. She believes that the current energy shock is lasting much longer than expected, and damage to energy infrastructure along with supply chain disruptions have pushed high energy prices into broader economic sectors. Schnabel pointed out that inflation in the Eurozone has risen to 3%, with further upward risks still present. There are concerns within the ECB that high energy costs are driving up prices for goods and services through 'second-round effects,' creating more persistent inflationary pressures. She emphasized that the ECB's previous baseline forecast included two rate hikes, and a single action may not be sufficient to achieve the inflation control target.

ECB Governing Council Member: Rate Hike Still Needed in June Even if Iran Reaches Peace Agreement

According to monitoring by Dongcha Beating, Alipay has announced the launch of the world's first Token Pay service and AI wallet product. Today, the company's full-stack AI payment product matrix has been unveiled, marking the establishment of the world's first large-scale commercial AI-native payment infrastructure. Among these, the Alipay AI wallet is the world's first AI wallet aimed at individuals, supporting full visualization management of Agent tasks. Token Pay is the only comprehensive Token payment solution in the market, providing one-stop services to meet global market demands. AI Revenue offers global AI payment services for the AI industry, enabling 'pay-as-you-call' functionality, which includes features such as 'Payment MCP Server', 'AI Tipping' services, and 'Payment Integration Skills', providing multi-scenario capabilities that comprehensively cover leading development platforms and OpenClaw-like Agents. Alipay also stated that its 'AI Payment' has facilitated 300 million AI intelligent entity payments in the AI industry and supports 95% of general intelligent entities.

[Alipay Launches World's First Token Pay Service and AI Wallet Product, Showcasing Full-Stack AI Payment Solutions]According to monitoring by Dongcha Beating, Alipay has announced the launch of the world's first Token Pay service and AI wallet product. Today, the company's full-stack AI payment product matrix has been unveiled, marking the establishment of the world's first large-scale commercial AI-native payment infrastructure. Among these, the Alipay AI wallet is the world's first AI wallet aimed at individuals, supporting full visualization management of Agent tasks. Token Pay is the only comprehensive Token payment solution in the market, providing one-stop services to meet global market demands. AI Revenue offers global AI payment services for the AI industry, enabling 'pay-as-you-call' functionality, which includes features such as 'Payment MCP Server', 'AI Tipping' services, and 'Payment Integration Skills', providing multi-scenario capabilities that comprehensively cover leading development platforms and OpenClaw-like Agents. Alipay also stated that its 'AI Payment' has facilitated 300 million AI intelligent entity payments in the AI industry and supports 95% of general intelligent entities.

Alipay Launches World's First Token Pay Service and AI Wallet Product, Showcasing Full-Stack AI Payment Solutions

zest Surges 10.15% in 24H, Currently at 0.178793 USDT

【zest currently trades at 0.178793 USDT, up 10.15% in 24h, according to HTX market data.】zest Surges 10.15% in 24H, Currently at 0.178793 USDT

zest currently trades at 0.178793 USDT, up 10.15% in 24h, according to HTX market data.

On May 26, CoinShares released its latest weekly report indicating that digital asset investment products experienced an outflow of $1.47 billion last week, marking the second consecutive week of negative growth. This represents the third-largest single-week outflow since 2026, following two weeks in late January that saw $1.7 billion in outflows. Bitcoin alone saw an outflow of $1.315 billion, setting a record for the largest single-week outflow since 2026, surpassing the peak at the end of January. Year-to-date, Bitcoin outflows have decreased from $3.9 billion the previous week to $2.6 billion, highlighting the potential for a rapid reduction in cumulative holdings in 2026 during periods of heightened risk aversion. Ethereum experienced an outflow of $222.8 million, remaining roughly stable compared to the previous week. Other cryptocurrencies continued to attract some inflows, albeit at a smaller scale than the previous week: XRP saw an inflow of $31.8 million, Near attracted $9 million (notably with an asset management scale of $74 million), Solana received $7.7 million, Sui brought in $2.9 million, and Multi-asset inflows totaled $4.7 million.

[CoinShares: $1.47 Billion Outflow from Digital Asset Investment Products Last Week]On May 26, CoinShares released its latest weekly report indicating that digital asset investment products experienced an outflow of $1.47 billion last week, marking the second consecutive week of negative growth. This represents the third-largest single-week outflow since 2026, following two weeks in late January that saw $1.7 billion in outflows. Bitcoin alone saw an outflow of $1.315 billion, setting a record for the largest single-week outflow since 2026, surpassing the peak at the end of January. Year-to-date, Bitcoin outflows have decreased from $3.9 billion the previous week to $2.6 billion, highlighting the potential for a rapid reduction in cumulative holdings in 2026 during periods of heightened risk aversion. Ethereum experienced an outflow of $222.8 million, remaining roughly stable compared to the previous week. Other cryptocurrencies continued to attract some inflows, albeit at a smaller scale than the previous week: XRP saw an inflow of $31.8 million, Near attracted $9 million (notably with an asset management scale of $74 million), Solana received $7.7 million, Sui brought in $2.9 million, and Multi-asset inflows totaled $4.7 million.

CoinShares: $1.47 Billion Outflow from Digital Asset Investment Products Last Week

On May 26, major U.S. tech stocks rose in pre-market trading, with Google A up 0.8%, Amazon and Nvidia up 0.7%, Tesla and Apple up 0.5%, and Meta and Microsoft up 0.2%.

[Major U.S. Tech Stocks Rise Pre-Market, Google A Up 0.8%]On May 26, major U.S. tech stocks rose in pre-market trading, with Google A up 0.8%, Amazon and Nvidia up 0.7%, Tesla and Apple up 0.5%, and Meta and Microsoft up 0.2%.

Major U.S. Tech Stocks Rise Pre-Market, Google A Up 0.8%

BTC is currently trading at 30311.49 USDT on Huobi Global, with a 24h increase of -3.04%.
1. The total value of the global digital currency market is about $1298.33 B (-1.11 %), and the 24h trading volume is $88.33 B (-5.98 %).
2. The prices of the major Altcoins are as follows: 
ETH 1800.24 USDT (-0.43%), HT 7.1556 USDT (-2.48%), XRP 0.40235 USDT (-1.07%), LTC 62.03 USDT (-2.36%), DOT 9.0519 USDT (-1.81%). 
3. In 24h,the top 3 gainers are:
BWO（+46.78 %）、CTX（+38.98 %）、PLU（+23.08 %）; 
the top 3 losers are:
VISION（-27.91 %）、LUNA（-27.16 %）、UNFI（-22.37 %）. 
(Note: All rises and falls are calculated in 24h time format)
Go to Huobi Global and click 'Markets' to learn more about market information.

[Huobi Global Markets]BTC is currently trading at 30311.49 USDT on Huobi Global, with a 24h increase of -3.04%.
1. The total value of the global digital currency market is about $1298.33 B (-1.11 %), and the 24h trading volume is $88.33 B (-5.98 %).
2. The prices of the major Altcoins are as follows: 
ETH 1800.24 USDT (-0.43%), HT 7.1556 USDT (-2.48%), XRP 0.40235 USDT (-1.07%), LTC 62.03 USDT (-2.36%), DOT 9.0519 USDT (-1.81%). 
3. In 24h,the top 3 gainers are:
BWO（+46.78 %）、CTX（+38.98 %）、PLU（+23.08 %）; 
the top 3 losers are:
VISION（-27.91 %）、LUNA（-27.16 %）、UNFI（-22.37 %）. 
(Note: All rises and falls are calculated in 24h time format)
Go to Huobi Global and click 'Markets' to learn more about market information.

Huobi Global Markets

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Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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