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On May 11, Alibaba Cloud launched the Team Version of Token Plan, which includes over ten multimodal models such as Qwen3.6, Kimi-K2.6, GLM-5.1, and Wan2.7. It supports multi-seat allocation and management, offering three tiers: Standard, Advanced, and Premium, allowing users to choose flexibly based on their needs. Currently, Alibaba Cloud's Token Plan is compatible with mainstream agent tools like Qoder, JVSCrew, QwenCode, OpenClaw, HermesAgent, ClaudeCode, and Cursor, enabling users to invoke these tools with a single click within the agent.

[Alibaba Cloud Launches Team Version of Token Plan]On May 11, Alibaba Cloud launched the Team Version of Token Plan, which includes over ten multimodal models such as Qwen3.6, Kimi-K2.6, GLM-5.1, and Wan2.7. It supports multi-seat allocation and management, offering three tiers: Standard, Advanced, and Premium, allowing users to choose flexibly based on their needs. Currently, Alibaba Cloud's Token Plan is compatible with mainstream agent tools like Qoder, JVSCrew, QwenCode, OpenClaw, HermesAgent, ClaudeCode, and Cursor, enabling users to invoke these tools with a single click within the agent.

Alibaba Cloud Launches Team Version of Token Plan

On May 11, Ripple's main brokerage division has secured a maximum asset-backed debt financing line of $200 million from Neuberger Berman, aimed at expanding its margin financing services for institutional investors. Reports indicate that this financing is provided by Neuberger Berman's specialized finance division, allowing Ripple to draw up to $200 million in phases based on the borrowing needs of institutional clients in the equity, fixed income, and cryptocurrency markets.

[Ripple Secures $200 Million Financing Line from Neuberger Berman]On May 11, Ripple's main brokerage division has secured a maximum asset-backed debt financing line of $200 million from Neuberger Berman, aimed at expanding its margin financing services for institutional investors. Reports indicate that this financing is provided by Neuberger Berman's specialized finance division, allowing Ripple to draw up to $200 million in phases based on the borrowing needs of institutional clients in the equity, fixed income, and cryptocurrency markets.

Ripple Secures $200 Million Financing Line from Neuberger Berman

On May 11, Circle officially released the ARC white paper, outlining ARC as the design framework for the native coordinating asset of the Arc blockchain network. Arc is a public Layer 1 blockchain positioned as the 'Economic Operating System of the Internet,' providing shared and composable infrastructure to support economic contracts, stablecoins, tokenized assets, and global market operations. ARC is the utility-native asset of the Arc network, aligning participants with the long-term success of the network through staking, governance, fee capture, and platform-level utility functions. ARC does not represent any equity, debt, revenue rights, or asset claims of Circle; its economic value derives entirely from participants' interactions with the Arc network. ARC fulfills five structural functions: economic alignment (staking and security), platform utility functions (discounts and priority access), fee capture and distribution, governance, and expanding utility functions as the platform grows. Supply and Inflation: The initial supply of ARC is 10 billion tokens. An early adopter declining inflation model is anticipated (initially around 2-3% annually) to reward validators and stakers. The long-term goal is to achieve 'inflation neutrality' by completely offsetting new issuance through the destruction of tokens from network activity. Fee Conversion: Regardless of the asset (such as USDC) used by users to pay protocol fees, it will be programmatically converted to ARC at the protocol level, then split into two parts: one part allocated to validators and stakers as compensation, and the other part permanently destroyed to offset inflation. Allocation Plan: 60% allocated to the ecosystem (token sales, developer funding, network growth); 25% allocated to Circle (protocol development, staking, and governance); 15% allocated to long-term reserves (strategic flexibility and economic stability). In terms of governance, after Arc upgrades to a PoS mechanism, economic parameters (fee rates, inflation, destruction logic) will be determined by ARC stakers through governance voting. Initially, Circle will be responsible for protocol upgrades, security incident responses, and validator member management, gradually transitioning governance to token holders as the network matures. The Arc public testnet is set to launch in October 2025, having processed 244.1 million transactions as of May 5, 2026. The mainnet is expected to launch in the summer of 2026.

[Circle Releases ARC White Paper: Initial Supply of 10 Billion, 60% Allocated to Ecosystem, Mainnet Expected This Summer]On May 11, Circle officially released the ARC white paper, outlining ARC as the design framework for the native coordinating asset of the Arc blockchain network. Arc is a public Layer 1 blockchain positioned as the 'Economic Operating System of the Internet,' providing shared and composable infrastructure to support economic contracts, stablecoins, tokenized assets, and global market operations. ARC is the utility-native asset of the Arc network, aligning participants with the long-term success of the network through staking, governance, fee capture, and platform-level utility functions. ARC does not represent any equity, debt, revenue rights, or asset claims of Circle; its economic value derives entirely from participants' interactions with the Arc network. ARC fulfills five structural functions: economic alignment (staking and security), platform utility functions (discounts and priority access), fee capture and distribution, governance, and expanding utility functions as the platform grows. Supply and Inflation: The initial supply of ARC is 10 billion tokens. An early adopter declining inflation model is anticipated (initially around 2-3% annually) to reward validators and stakers. The long-term goal is to achieve 'inflation neutrality' by completely offsetting new issuance through the destruction of tokens from network activity. Fee Conversion: Regardless of the asset (such as USDC) used by users to pay protocol fees, it will be programmatically converted to ARC at the protocol level, then split into two parts: one part allocated to validators and stakers as compensation, and the other part permanently destroyed to offset inflation. Allocation Plan: 60% allocated to the ecosystem (token sales, developer funding, network growth); 25% allocated to Circle (protocol development, staking, and governance); 15% allocated to long-term reserves (strategic flexibility and economic stability). In terms of governance, after Arc upgrades to a PoS mechanism, economic parameters (fee rates, inflation, destruction logic) will be determined by ARC stakers through governance voting. Initially, Circle will be responsible for protocol upgrades, security incident responses, and validator member management, gradually transitioning governance to token holders as the network matures. The Arc public testnet is set to launch in October 2025, having processed 244.1 million transactions as of May 5, 2026. The mainnet is expected to launch in the summer of 2026.

Circle Releases ARC White Paper: Initial Supply of 10 Billion, 60% Allocated to Ecosystem, Mainnet Expected This Summer

On May 11, Circle released its financial report for the first quarter of fiscal year 2026, showing that its USDC circulation reached $77 billion, with revenue increasing by 20% year-on-year (previous market expectation was $721 million); net profit from continuing operations was $55 million, a decrease of 15% year-on-year. Highlights from the financial report include: · As of the end of the quarter, USDC circulation was $77 billion, a year-on-year increase of 28%; the on-chain transaction volume of USDC in Q1 2026 was $21.5 trillion, a year-on-year increase of 263%. · Reserve income was $653 million, a year-on-year increase of 17%, mainly due to a 39% increase in average USDC circulation, although partially offset by a 66 basis point decline in reserve return rates. · Other income was $42 million, a year-on-year increase of $21 million, primarily due to strong growth in subscription and service revenue as well as trading income. · Total distribution, trading, and other costs amounted to $407 million, a year-on-year increase of 17%, mainly due to increased distribution expenses. · Operating expenses were $242 million, a year-on-year increase of 76%, primarily due to increased labor costs from post-IPO equity incentive compensation and related payroll taxes. · Adjusted operating expenses were $136 million, a year-on-year increase of 32%, driven by the company's increased investments in products, distribution, and operational infrastructure. · Net profit was $55 million, a year-on-year decrease of 15%, as the growth in revenue minus distribution costs was offset by increased equity incentive compensation and ongoing investments in products, distribution, and operational infrastructure. · Adjusted EBITDA was $151 million, a year-on-year increase of 24%, reflecting revenue growth driven by increased USDC circulation.

[Circle Q1 Revenue and Reserve Income Reach $694 Million Below Market Expectations, USDC Circulation Up 28% Year-on-Year]On May 11, Circle released its financial report for the first quarter of fiscal year 2026, showing that its USDC circulation reached $77 billion, with revenue increasing by 20% year-on-year (previous market expectation was $721 million); net profit from continuing operations was $55 million, a decrease of 15% year-on-year. Highlights from the financial report include: · As of the end of the quarter, USDC circulation was $77 billion, a year-on-year increase of 28%; the on-chain transaction volume of USDC in Q1 2026 was $21.5 trillion, a year-on-year increase of 263%. · Reserve income was $653 million, a year-on-year increase of 17%, mainly due to a 39% increase in average USDC circulation, although partially offset by a 66 basis point decline in reserve return rates. · Other income was $42 million, a year-on-year increase of $21 million, primarily due to strong growth in subscription and service revenue as well as trading income. · Total distribution, trading, and other costs amounted to $407 million, a year-on-year increase of 17%, mainly due to increased distribution expenses. · Operating expenses were $242 million, a year-on-year increase of 76%, primarily due to increased labor costs from post-IPO equity incentive compensation and related payroll taxes. · Adjusted operating expenses were $136 million, a year-on-year increase of 32%, driven by the company's increased investments in products, distribution, and operational infrastructure. · Net profit was $55 million, a year-on-year decrease of 15%, as the growth in revenue minus distribution costs was offset by increased equity incentive compensation and ongoing investments in products, distribution, and operational infrastructure. · Adjusted EBITDA was $151 million, a year-on-year increase of 24%, reflecting revenue growth driven by increased USDC circulation.

Circle Q1 Revenue and Reserve Income Reach $694 Million Below Market Expectations, USDC Circulation Up 28% Year-on-Year

Market data shows that BTC has surpassed $81,000, currently priced at $81,012.81, with a 24-hour increase of 0.07%. The market is experiencing significant volatility, so please ensure proper risk management.

[BTC Surpasses $81,000]Market data shows that BTC has surpassed $81,000, currently priced at $81,012.81, with a 24-hour increase of 0.07%. The market is experiencing significant volatility, so please ensure proper risk management.

BTC Surpasses $81,000

On May 11, Circle announced its financial report for the first quarter of fiscal year 2026. The data shows that by the end of the first quarter, the circulation of USDC reached $77 billion, a year-on-year increase of 28%; the on-chain transaction volume of USDC for the first quarter reached $21.5 trillion, a year-on-year increase of 263%. The financial report indicates that Circle's total revenue and reserve income for the first quarter was $694 million, a year-on-year increase of 20%; adjusted EBITDA was $151 million, a year-on-year increase of 24%; net profit was $55 million, a year-on-year decrease of 15%. Additionally, Circle disclosed that its ARC Token presale financing reached $222 million, with a fully diluted valuation of $3 billion, and investors include institutions such as a16z crypto, BlackRock, and ARK Invest. The company also announced the launch of the 'Agent Stack' infrastructure aimed at AI agent scenarios, including products like Agent Wallets and Agent Marketplace, to support USDC-based AI agent payments and business activities.

[Circle Q1 Revenue Reaches $694 Million, Net Profit at $55 Million]On May 11, Circle announced its financial report for the first quarter of fiscal year 2026. The data shows that by the end of the first quarter, the circulation of USDC reached $77 billion, a year-on-year increase of 28%; the on-chain transaction volume of USDC for the first quarter reached $21.5 trillion, a year-on-year increase of 263%. The financial report indicates that Circle's total revenue and reserve income for the first quarter was $694 million, a year-on-year increase of 20%; adjusted EBITDA was $151 million, a year-on-year increase of 24%; net profit was $55 million, a year-on-year decrease of 15%. Additionally, Circle disclosed that its ARC Token presale financing reached $222 million, with a fully diluted valuation of $3 billion, and investors include institutions such as a16z crypto, BlackRock, and ARK Invest. The company also announced the launch of the 'Agent Stack' infrastructure aimed at AI agent scenarios, including products like Agent Wallets and Agent Marketplace, to support USDC-based AI agent payments and business activities.

Circle Q1 Revenue Reaches $694 Million, Net Profit at $55 Million

On May 11, a spokesperson for the European Commission stated that the European Commission is in contact with OpenAI regarding the latest ChatGPT model.

[European Commission in Contact with OpenAI Regarding Latest ChatGPT Model]On May 11, a spokesperson for the European Commission stated that the European Commission is in contact with OpenAI regarding the latest ChatGPT model.

European Commission in Contact with OpenAI Regarding Latest ChatGPT Model

On May 11, CNBC reported that Circle raised $222 million in the ARC token pre-sale from BlackRock, Apollo, and other investors, achieving a valuation of $3 billion.

[Circle's ARC Pre-sale Raises $222 Million at $3 Billion Valuation with Participation from BlackRock]On May 11, CNBC reported that Circle raised $222 million in the ARC token pre-sale from BlackRock, Apollo, and other investors, achieving a valuation of $3 billion.

Circle's ARC Pre-sale Raises $222 Million at $3 Billion Valuation with Participation from BlackRock

On May 11, QCP stated that the US will release key inflation data (CPI, PPI, and retail sales) this week, with the market focused on whether inflation is stabilizing rather than accelerating again. If the data shows that inflation is stabilizing, it may support expectations for looser financial conditions and drive real yields lower, which historically has supported the crypto market. Conversely, if inflation continues to rise, it will strengthen expectations for ongoing policy tightening, putting pressure on risk assets. Despite outflows from spot ETFs last Thursday and Friday, as well as market concerns over Saylor's comments about 'selling Bitcoin,' Bitcoin has remained firmly above $80,000, which is viewed as a constructive price performance. Additionally, the US Senate Banking Committee plans to review the CLARITY Act this week. Although this remains a procedural step rather than a final vote, it is still an important signal of legislative progress. Any developments will affect the market's expectations for regulatory clarity, which in turn will influence ETF and broader institutional capital flows. Currently, crypto volatility continues to decline, remaining close to year-to-date lows, and the VIX index is hovering around 18, indicating relatively limited overall market pressure. In the short term, cryptocurrencies may maintain a range-bound fluctuation, with $84,000 being a key resistance level. The market is awaiting further clarity on inflation trends and macro factors such as the US-Iran situation.

[QCP: Bitcoin Holds Steady Above $80,000 as US CPI Data and CLARITY Act Review Approach]On May 11, QCP stated that the US will release key inflation data (CPI, PPI, and retail sales) this week, with the market focused on whether inflation is stabilizing rather than accelerating again. If the data shows that inflation is stabilizing, it may support expectations for looser financial conditions and drive real yields lower, which historically has supported the crypto market. Conversely, if inflation continues to rise, it will strengthen expectations for ongoing policy tightening, putting pressure on risk assets. Despite outflows from spot ETFs last Thursday and Friday, as well as market concerns over Saylor's comments about 'selling Bitcoin,' Bitcoin has remained firmly above $80,000, which is viewed as a constructive price performance. Additionally, the US Senate Banking Committee plans to review the CLARITY Act this week. Although this remains a procedural step rather than a final vote, it is still an important signal of legislative progress. Any developments will affect the market's expectations for regulatory clarity, which in turn will influence ETF and broader institutional capital flows. Currently, crypto volatility continues to decline, remaining close to year-to-date lows, and the VIX index is hovering around 18, indicating relatively limited overall market pressure. In the short term, cryptocurrencies may maintain a range-bound fluctuation, with $84,000 being a key resistance level. The market is awaiting further clarity on inflation trends and macro factors such as the US-Iran situation.

QCP: Bitcoin Holds Steady Above $80,000 as US CPI Data and CLARITY Act Review Approach

Vitalik: Centralized USDC could decide the future of contentious ETH hard forksEthereum co-founder Vitalik Buterin says that centralized stablecoins such as Tether (USDT) and Circle USD (USDC) could become “a significant decider in future contentious hard forks.”

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【Vitalik: Centralized USDC could decide the future of contentious ETH hard forks】Vitalik: Centralized USDC could decide the future of contentious ETH hard forksEthereum co-founder Vitalik Buterin says that centralized stablecoins such as Tether (USDT) and Circle USD (USDC) could become “a significant decider in future contentious hard forks.”

Vitalik: Centralized USDC could decide the future of contentious ETH hard forks

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bill soared to 0.152352 USDT, a new high with a 24-hour increase of 15.38%. It currently trades at 0.124168 USDT on HTX.

Vitalik: Centralized USDC could decide the future of contentious ETH hard forks

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

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