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On May 14, Wednesday (May 13), at the New York close (04:59 Beijing time on Thursday), the offshore renminbi (CNH) was quoted at 6.7874 against the US dollar, an increase of 34 points from Tuesday's New York close, with overall trading during the day ranging between 6.7930 and 6.7860.

[Offshore Renminbi Rises 34 Points Against the US Dollar Compared to Tuesday's New York Close]On May 14, Wednesday (May 13), at the New York close (04:59 Beijing time on Thursday), the offshore renminbi (CNH) was quoted at 6.7874 against the US dollar, an increase of 34 points from Tuesday's New York close, with overall trading during the day ranging between 6.7930 and 6.7860.

Offshore Renminbi Rises 34 Points Against the US Dollar Compared to Tuesday's New York Close

On May 14, Federal Reserve's Kashkari stated that current inflation is too high and that the inflation rate needs to be restored to 2%, emphasizing that the target should not be changed. The duration of the closure of the Strait of Hormuz remains a significant question mark, which will have a major impact on inflation. Even if the Strait of Hormuz reopens, it will take several months for the supply chain to return to normal.

[Fed's Kashkari: Current Inflation is Too High, Needs to Return to 2%]On May 14, Federal Reserve's Kashkari stated that current inflation is too high and that the inflation rate needs to be restored to 2%, emphasizing that the target should not be changed. The duration of the closure of the Strait of Hormuz remains a significant question mark, which will have a major impact on inflation. Even if the Strait of Hormuz reopens, it will take several months for the supply chain to return to normal.

Fed's Kashkari: Current Inflation is Too High, Needs to Return to 2%

On May 14, the Israeli Prime Minister's Office issued a statement on the evening of May 13, local time, stating that during this year's war with Iran, Israeli Prime Minister Netanyahu made a secret visit to the UAE and met with UAE President Mohammed. The statement noted, 'This visit facilitated a historic breakthrough in relations between Israel and the UAE.' (CCTV International News)

[Israeli Prime Minister's Secret Visit to UAE During War with Iran]On May 14, the Israeli Prime Minister's Office issued a statement on the evening of May 13, local time, stating that during this year's war with Iran, Israeli Prime Minister Netanyahu made a secret visit to the UAE and met with UAE President Mohammed. The statement noted, 'This visit facilitated a historic breakthrough in relations between Israel and the UAE.' (CCTV International News)

Israeli Prime Minister's Secret Visit to UAE During War with Iran

LVVA fluctuated by 72.4% within 24 hours, current price $0.0007909

【LVVA fluctuated over 50% in 24 hours!】LVVA fluctuated by 72.4% within 24 hours, current price $0.0007909

LVVA fluctuated over 50% in 24 hours!

On May 14, according to foreign media reports, sources revealed that Microsoft (MSFT.O) is seeking to acquire an artificial intelligence startup in preparation to reduce its reliance on its once-critical partner, OpenAI. The potential acquisition would help Microsoft build up its AI talent and advance its previously stated goal of developing an advanced AI model by next year. Sources indicated that earlier this spring, Microsoft considered acquiring the code generation startup Cursor, but ultimately abandoned the plan due to internal assessments suggesting that the deal would face regulatory scrutiny because of Microsoft's ownership of GitHub Copilot. Microsoft is currently in negotiations with Inception, a small startup founded by a team from Stanford University, which focuses on developing large language models using a technology called 'diffusion.' Microsoft's venture capital fund M12 participated in Inception's $50 million seed round financing at the end of 2025. Microsoft also faces strong competition from other tech giants in the bidding, particularly SpaceX, which is owned by Elon Musk. Sources noted that SpaceX has also approached Inception.

[Microsoft Seeks to Acquire AI Company to Reduce Dependence on OpenAI]On May 14, according to foreign media reports, sources revealed that Microsoft (MSFT.O) is seeking to acquire an artificial intelligence startup in preparation to reduce its reliance on its once-critical partner, OpenAI. The potential acquisition would help Microsoft build up its AI talent and advance its previously stated goal of developing an advanced AI model by next year. Sources indicated that earlier this spring, Microsoft considered acquiring the code generation startup Cursor, but ultimately abandoned the plan due to internal assessments suggesting that the deal would face regulatory scrutiny because of Microsoft's ownership of GitHub Copilot. Microsoft is currently in negotiations with Inception, a small startup founded by a team from Stanford University, which focuses on developing large language models using a technology called 'diffusion.' Microsoft's venture capital fund M12 participated in Inception's $50 million seed round financing at the end of 2025. Microsoft also faces strong competition from other tech giants in the bidding, particularly SpaceX, which is owned by Elon Musk. Sources noted that SpaceX has also approached Inception.

Microsoft Seeks to Acquire AI Company to Reduce Dependence on OpenAI

On May 14, the three major U.S. stock indices closed mixed, with the Nasdaq rising 1.2%, the S&P 500 up 0.58%, and the Dow Jones down 0.14%. Both the Nasdaq and S&P 500 set new record highs. Most large tech stocks saw gains, with Google up nearly 4%, Meta, Tesla, and Nvidia rising over 2%, and Apple and Amazon increasing by more than 1%. Microsoft and Netflix experienced slight declines. Notably, the top three publicly traded companies by market value—Nvidia, Google, and Apple—all reached historic highs. Ford's stock price closed up 13%, marking its largest increase since 2020.

[U.S. Stock Market Close: Nasdaq and S&P 500 Reach New Highs; Nvidia, Google, and Apple Hit Record Market Values]On May 14, the three major U.S. stock indices closed mixed, with the Nasdaq rising 1.2%, the S&P 500 up 0.58%, and the Dow Jones down 0.14%. Both the Nasdaq and S&P 500 set new record highs. Most large tech stocks saw gains, with Google up nearly 4%, Meta, Tesla, and Nvidia rising over 2%, and Apple and Amazon increasing by more than 1%. Microsoft and Netflix experienced slight declines. Notably, the top three publicly traded companies by market value—Nvidia, Google, and Apple—all reached historic highs. Ford's stock price closed up 13%, marking its largest increase since 2020.

U.S. Stock Market Close: Nasdaq and S&P 500 Reach New Highs; Nvidia, Google, and Apple Hit Record Market Values

SNS fluctuated by 53.73% within 24 hours, current price $0.0001301

【SNS fluctuated over 50% in 24 hours!】SNS fluctuated by 53.73% within 24 hours, current price $0.0001301

SNS fluctuated over 50% in 24 hours!

On May 14, the U.S. Senate confirmed Walsh as the Chair of the Federal Reserve with a vote of 54 to 45. The Senate had previously approved Walsh as a Federal Reserve Governor for a 14-year term on the 12th. Following the approval of his chairmanship on the 13th, Walsh will officially assume office after completing the necessary signing procedures at the White House, succeeding the current Chair Powell, whose term ends this Friday (May 15). However, Powell is expected to remain on as a Federal Reserve Governor. This vote marks one of the most significant partisan divides in history: only one Democrat—Senator John Fetterman of Pennsylvania—voted in favor alongside the Republican majority.

[U.S. Senate Confirms Kevin Walsh as Federal Reserve Chair]On May 14, the U.S. Senate confirmed Walsh as the Chair of the Federal Reserve with a vote of 54 to 45. The Senate had previously approved Walsh as a Federal Reserve Governor for a 14-year term on the 12th. Following the approval of his chairmanship on the 13th, Walsh will officially assume office after completing the necessary signing procedures at the White House, succeeding the current Chair Powell, whose term ends this Friday (May 15). However, Powell is expected to remain on as a Federal Reserve Governor. This vote marks one of the most significant partisan divides in history: only one Democrat—Senator John Fetterman of Pennsylvania—voted in favor alongside the Republican majority.

U.S. Senate Confirms Kevin Walsh as Federal Reserve Chair

On May 14, American financial services giant Charles Schwab began a phased rollout of its 'Schwab Crypto' service to eligible U.S. retail clients, allowing users to trade Bitcoin and Ethereum directly. According to official information, users can view and manage their crypto assets directly through their existing Schwab accounts, with custody provided by Charles Schwab Premier Bank and underlying custody and trade execution services offered by Paxos. The platform charges a trading fee of 0.75% of the transaction amount, and currently does not support external wallet deposits and withdrawals. Additionally, this service is not yet available to residents of New York and Louisiana. Charles Schwab currently manages approximately $12 trillion in client assets, with its clients holding about 20% of the assets in U.S. spot crypto ETFs.

[Charles Schwab Launches Spot Crypto Trading Service for U.S. Retail Clients]On May 14, American financial services giant Charles Schwab began a phased rollout of its 'Schwab Crypto' service to eligible U.S. retail clients, allowing users to trade Bitcoin and Ethereum directly. According to official information, users can view and manage their crypto assets directly through their existing Schwab accounts, with custody provided by Charles Schwab Premier Bank and underlying custody and trade execution services offered by Paxos. The platform charges a trading fee of 0.75% of the transaction amount, and currently does not support external wallet deposits and withdrawals. Additionally, this service is not yet available to residents of New York and Louisiana. Charles Schwab currently manages approximately $12 trillion in client assets, with its clients holding about 20% of the assets in U.S. spot crypto ETFs.

Charles Schwab Launches Spot Crypto Trading Service for U.S. Retail Clients

According to Coindesk, messaging platform Telegram could soon offer a marketplace to auction addresses, founder Pavel Durov said Monday in a message in the app. Durov referenced an earlier auction of wallet domain names on The Open Network, the protocol he developed alongside Telegram. Having left the project behind due to regulatory concerns from the U.S. Securities and Exchange Commission, he proposed that the messaging app could have success in re-introducing elements of Web3 by auctioning off “@ usernames, group and channel links.” "This would create a new platform where username holders could transfer them to interested parties in protected deals - with ownership secured on the blockchain via NFT-like smart-contracts," Durov said on Telegram.

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【Telegram founder says Telegram could soon offer a marketplace to auction addresses】According to Coindesk, messaging platform Telegram could soon offer a marketplace to auction addresses, founder Pavel Durov said Monday in a message in the app. Durov referenced an earlier auction of wallet domain names on The Open Network, the protocol he developed alongside Telegram. Having left the project behind due to regulatory concerns from the U.S. Securities and Exchange Commission, he proposed that the messaging app could have success in re-introducing elements of Web3 by auctioning off “@ usernames, group and channel links.” "This would create a new platform where username holders could transfer them to interested parties in protected deals - with ownership secured on the blockchain via NFT-like smart-contracts," Durov said on Telegram.

Telegram founder says Telegram could soon offer a marketplace to auction addresses

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Telegram founder says Telegram could soon offer a marketplace to auction addresses

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