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On May 14, stablecoin-driven digital bank Fasset announced the completion of $51 million in Series B financing, with investors including Japan's SBI Group, Investcorp, and Turkish asset management company Arz Portföy. The valuation for this round has not been disclosed. Fasset utilizes stablecoin technology to cover over 50 payment channels across Asia, Africa, and the Middle East, serving more than 1,000 SMEs in 125 countries, with an annual transaction volume exceeding $32 billion. The company plans to use the funds from this round to expand into new markets, develop loan and trade financing products, and enhance its proprietary stablecoin payment and custody infrastructure, 'Own Network.' Additionally, Fasset has recently partnered with Tether, the issuer of USDT, to launch a gold-backed digital debit card.

[Fasset Completes $51 Million Series B Financing]On May 14, stablecoin-driven digital bank Fasset announced the completion of $51 million in Series B financing, with investors including Japan's SBI Group, Investcorp, and Turkish asset management company Arz Portföy. The valuation for this round has not been disclosed. Fasset utilizes stablecoin technology to cover over 50 payment channels across Asia, Africa, and the Middle East, serving more than 1,000 SMEs in 125 countries, with an annual transaction volume exceeding $32 billion. The company plans to use the funds from this round to expand into new markets, develop loan and trade financing products, and enhance its proprietary stablecoin payment and custody infrastructure, 'Own Network.' Additionally, Fasset has recently partnered with Tether, the issuer of USDT, to launch a gold-backed digital debit card.

Fasset Completes $51 Million Series B Financing

On May 14, Turnkey, a company specializing in cryptocurrency wallet and key management infrastructure, announced the completion of a $12.5 million strategic financing round. Investors include Circle Ventures, Sequoia Capital, Archetype, as well as existing investors Bain Capital Crypto, Galaxy Ventures, Lightspeed Faction, and Variant.

[Turnkey Completes $12.5 Million Strategic Financing]On May 14, Turnkey, a company specializing in cryptocurrency wallet and key management infrastructure, announced the completion of a $12.5 million strategic financing round. Investors include Circle Ventures, Sequoia Capital, Archetype, as well as existing investors Bain Capital Crypto, Galaxy Ventures, Lightspeed Faction, and Variant.

Turnkey Completes $12.5 Million Strategic Financing

On May 14, 20 FTX victims from five countries or regions filed a lawsuit against Silicon Valley law firm Fenwick & West LLP in the U.S. District Court for the District of Columbia, seeking over $525 million in damages. They accuse the firm of assisting in covering up FTX's fraudulent activities and helping the exchange maintain a 'legitimate appearance.' The lawsuit claims that Fenwick not only provided legal services but also assisted in designing corporate structures and operational arrangements that allowed client funds to be misappropriated while reducing the risk of external regulation and scrutiny. The plaintiffs have raised seven charges, including legal malpractice, fraud, and gross negligence, and are seeking compensation for their losses, as well as the return of all legal fees received by Fenwick from FTX, along with punitive damages against the relevant partners.

[FTX Victims Sue Silicon Valley Law Firm Fenwick & West for $525 Million]On May 14, 20 FTX victims from five countries or regions filed a lawsuit against Silicon Valley law firm Fenwick & West LLP in the U.S. District Court for the District of Columbia, seeking over $525 million in damages. They accuse the firm of assisting in covering up FTX's fraudulent activities and helping the exchange maintain a 'legitimate appearance.' The lawsuit claims that Fenwick not only provided legal services but also assisted in designing corporate structures and operational arrangements that allowed client funds to be misappropriated while reducing the risk of external regulation and scrutiny. The plaintiffs have raised seven charges, including legal malpractice, fraud, and gross negligence, and are seeking compensation for their losses, as well as the return of all legal fees received by Fenwick from FTX, along with punitive damages against the relevant partners.

FTX Victims Sue Silicon Valley Law Firm Fenwick & West for $525 Million

On May 14, Michael Saylor stated that STRC's volatility is 1.8%, the Sharpe ratio is 4.35, and the return is 11.5%. Tomorrow is the share registration day. Today is the additional issuance day.

[Michael Saylor: Today is STRC's Additional Issuance Day, Tomorrow is the Share Registration Day]On May 14, Michael Saylor stated that STRC's volatility is 1.8%, the Sharpe ratio is 4.35, and the return is 11.5%. Tomorrow is the share registration day. Today is the additional issuance day.

Michael Saylor: Today is STRC's Additional Issuance Day, Tomorrow is the Share Registration Day

On May 14, T3 Financial Crime Unit (T3 FCU), jointly established by Tether, TRON DAO, and TRM Labs, announced that it has frozen over $450 million in involved cryptocurrency assets globally as of May 2026. The announcement indicated that the scale of illegal funds intercepted by T3 FCU in 2025 increased by 43.9% year-on-year, with cases including controlled substance trafficking, exchange hacks, North Korea-related activities, terrorist financing, and kidnapping extortion. The organization is currently collaborating with regulatory and law enforcement agencies in 23 jurisdictions, including the United States, Spain, Germany, Brazil, and the United Kingdom. T3 FCU stated that it assisted in freezing over 3 billion Brazilian reais in cryptocurrency assets during the 'Operation Lusocoin' in Brazil, which included 4.3 million USDT.

[T3, Supported by Tron, Tether, and TRM Labs, Freezes Over $450 Million in Assets]On May 14, T3 Financial Crime Unit (T3 FCU), jointly established by Tether, TRON DAO, and TRM Labs, announced that it has frozen over $450 million in involved cryptocurrency assets globally as of May 2026. The announcement indicated that the scale of illegal funds intercepted by T3 FCU in 2025 increased by 43.9% year-on-year, with cases including controlled substance trafficking, exchange hacks, North Korea-related activities, terrorist financing, and kidnapping extortion. The organization is currently collaborating with regulatory and law enforcement agencies in 23 jurisdictions, including the United States, Spain, Germany, Brazil, and the United Kingdom. T3 FCU stated that it assisted in freezing over 3 billion Brazilian reais in cryptocurrency assets during the 'Operation Lusocoin' in Brazil, which included 4.3 million USDT.

T3, Supported by Tron, Tether, and TRM Labs, Freezes Over $450 Million in Assets

On May 14, U.S. retail sales for April rose by 0.5%, matching expectations of 0.5% and down from a previous value of 1.70%. This marks the lowest level since January and aligns with market forecasts. (Jin Shi)

[U.S. Retail Sales in April Increase by 0.5%, as Expected]On May 14, U.S. retail sales for April rose by 0.5%, matching expectations of 0.5% and down from a previous value of 1.70%. This marks the lowest level since January and aligns with market forecasts. (Jin Shi)

U.S. Retail Sales in April Increase by 0.5%, as Expected

On May 14, on-chain detective ZachXBT published a lengthy article exposing the LAB project and its founder (@vsadkovv). The LAB token surged to a $6 billion fully diluted valuation (FDV), but the situation behind it is highly opaque. The team was founded by Vova Sadkov and Mark, who previously left many investors dissatisfied with their Eesee project. Currently, the circulation data for LAB is chaotic, with the official team failing to provide clear token distribution details. The investors and trading platforms are highly overlapping, and most critically, insiders are likely controlling over 95% of the tokens, leaving retail investors completely unaware of the true circulation situation. Additionally, the LAB team unilaterally extended the public sale lock-up period from 3 months to 9 months while also defaulting on marketing fees, providing special treatment to KOLs and whales and requiring them to promote the project. The founder has mixed project funds with personal accounts, with large amounts of money directly entering trading platform deposit addresses. Insiders can sell off tokens without retail investors being aware. On-chain data shows that insiders recently withdrew over 100 million LAB tokens from trading platforms, valued at hundreds of millions of dollars, employing tactics similar to those used in previously manipulated projects.

[ZachXBT Accuses LAB Project of Market Manipulation Harming Retail Investors, Over 95% of Tokens Controlled]On May 14, on-chain detective ZachXBT published a lengthy article exposing the LAB project and its founder (@vsadkovv). The LAB token surged to a $6 billion fully diluted valuation (FDV), but the situation behind it is highly opaque. The team was founded by Vova Sadkov and Mark, who previously left many investors dissatisfied with their Eesee project. Currently, the circulation data for LAB is chaotic, with the official team failing to provide clear token distribution details. The investors and trading platforms are highly overlapping, and most critically, insiders are likely controlling over 95% of the tokens, leaving retail investors completely unaware of the true circulation situation. Additionally, the LAB team unilaterally extended the public sale lock-up period from 3 months to 9 months while also defaulting on marketing fees, providing special treatment to KOLs and whales and requiring them to promote the project. The founder has mixed project funds with personal accounts, with large amounts of money directly entering trading platform deposit addresses. Insiders can sell off tokens without retail investors being aware. On-chain data shows that insiders recently withdrew over 100 million LAB tokens from trading platforms, valued at hundreds of millions of dollars, employing tactics similar to those used in previously manipulated projects.

ZachXBT Accuses LAB Project of Market Manipulation Harming Retail Investors, Over 95% of Tokens Controlled

On May 14, it was reported that for the week ending May 9, the number of initial jobless claims in the United States reached 211,000, marking the highest level since the week of April 18, and exceeding market expectations of 205,000.

[U.S. Initial Jobless Claims Exceed Expectations]On May 14, it was reported that for the week ending May 9, the number of initial jobless claims in the United States reached 211,000, marking the highest level since the week of April 18, and exceeding market expectations of 205,000.

U.S. Initial Jobless Claims Exceed Expectations

According to Beating Monitoring, Adaption has launched AutoScientist, a fully automated model training and alignment system. This system can autonomously run through a complete model research cycle, simultaneously optimizing data and training recipes, allowing non-technical personnel to independently fine-tune custom models. Test data shows that AutoScientist averages a 35% performance improvement over the manual configurations of Adaption's internal researchers in fine-tuning performance. In benchmark tests across eight verticals using the Together AI architecture with datasets ranging from 5,000 to 100,000 entries, the system increased the fine-tuning success rate from 48% with manual configurations to 64%. Most fine-tuning based on private data often fails due to catastrophic forgetting and overfitting, but this system provides predictable performance gains. Officials state that this not only lowers the barrier to building proprietary AI but also frees machine learning engineers from the tedious process of manually monitoring parameter searches. The system is currently available for a 30-day free trial, and the team claims that they will also introduce real-time adaptation technology that requires no training in the future.

[Adaption Launches Fully Automated Fine-Tuning System AutoScientist, Outperforming Human Experts by 35%]According to Beating Monitoring, Adaption has launched AutoScientist, a fully automated model training and alignment system. This system can autonomously run through a complete model research cycle, simultaneously optimizing data and training recipes, allowing non-technical personnel to independently fine-tune custom models. Test data shows that AutoScientist averages a 35% performance improvement over the manual configurations of Adaption's internal researchers in fine-tuning performance. In benchmark tests across eight verticals using the Together AI architecture with datasets ranging from 5,000 to 100,000 entries, the system increased the fine-tuning success rate from 48% with manual configurations to 64%. Most fine-tuning based on private data often fails due to catastrophic forgetting and overfitting, but this system provides predictable performance gains. Officials state that this not only lowers the barrier to building proprietary AI but also frees machine learning engineers from the tedious process of manually monitoring parameter searches. The system is currently available for a 30-day free trial, and the team claims that they will also introduce real-time adaptation technology that requires no training in the future.

Adaption Launches Fully Automated Fine-Tuning System AutoScientist, Outperforming Human Experts by 35%

Blockchain venture firm CoinFund has launched a new investment fund devoted to Web3 and other crypto-focused startups, opening the door to fresh funding opportunities for entrepreneurs during the bear market. 
The newly launched CoinFund Ventures I will invest $300 million into early-stage companies at the intersection of Web3, cryptocurrency and other blockchain sub-sectors, the company announced Wednesday. The new fund was financed by a combination of institutional investors, family offices and cryptocurrency entrepreneurs.

Detail

【CoinFund launches $300M early-stage Web3 venture fund】Blockchain venture firm CoinFund has launched a new investment fund devoted to Web3 and other crypto-focused startups, opening the door to fresh funding opportunities for entrepreneurs during the bear market. 
The newly launched CoinFund Ventures I will invest $300 million into early-stage companies at the intersection of Web3, cryptocurrency and other blockchain sub-sectors, the company announced Wednesday. The new fund was financed by a combination of institutional investors, family offices and cryptocurrency entrepreneurs.

CoinFund launches $300M early-stage Web3 venture fund

Article

BTC falls below 79000 USDT

Arm and SoftBank Proposed Acquisition of Cerebras Before IPO but Were Rejected

TRX breaks through 0.35 USDT

FIO's 24-hour volatility exceeds 50%!

OSMO fluctuated over 50% in 24 hours!

OpenAI Offers Two Months of Free Codex to Companies Switching from Claude

CoinFund launches $300M early-stage Web3 venture fund

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

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