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On May 11, Ronin, the blockchain behind Axie Infinity, will migrate from an independent sidechain to an Ethereum Layer 2 network via a hard fork on May 12. This transition is expected to result in approximately 10 hours of network downtime, during which all transfers, swaps, contract interactions, and on-chain gaming activities will be paused. The upgrade will introduce the OP Stack architecture and a 'Proof of Distribution' allocation model, rewarding builders based on their actual contributions to the network. Additionally, the inflation rate of RON will be significantly reduced from over 20% to less than 1%, and 90 million RON originally allocated for staking rewards will be moved to the treasury fund. Market transaction fees will increase from 0.5% to 1.25% to enhance security, scalability, and reshape the token economy.

[Ronin to Migrate to Ethereum Layer 2 Network on May 12 with 10-Hour Downtime]On May 11, Ronin, the blockchain behind Axie Infinity, will migrate from an independent sidechain to an Ethereum Layer 2 network via a hard fork on May 12. This transition is expected to result in approximately 10 hours of network downtime, during which all transfers, swaps, contract interactions, and on-chain gaming activities will be paused. The upgrade will introduce the OP Stack architecture and a 'Proof of Distribution' allocation model, rewarding builders based on their actual contributions to the network. Additionally, the inflation rate of RON will be significantly reduced from over 20% to less than 1%, and 90 million RON originally allocated for staking rewards will be moved to the treasury fund. Market transaction fees will increase from 0.5% to 1.25% to enhance security, scalability, and reshape the token economy.

Ronin to Migrate to Ethereum Layer 2 Network on May 12 with 10-Hour Downtime

On May 10, Strategy Executive Chairman Michael Saylor addressed the "selling coins controversy" during his appearance on The Wolf Of All Streets podcast. He acknowledged that the company might indeed sell a portion of its Bitcoin when necessary, but emphasized that this does not equate to reducing its holdings; rather, it is a crucial part of the overall capital strategy. Saylor provided three core reasons: First, if the market and credit rating agencies determine that Strategy will never sell its coins, then the $65 billion in Bitcoin will not be viewed as a true asset, thereby weakening 98% of the company's business foundation. Second, Strategy has billions of dollars in tax credits, and selling Bitcoin with a high cost basis can realize these tax benefits to finance preferred stock dividends. Third, in conjunction with the issuance of preferred stock tools like STRC, for every Bitcoin sold, Strategy can buy back 10, thereby not only maintaining its net position but actually increasing its holdings.

[Michael Saylor Explains Why Selling Bitcoin May Be Necessary]On May 10, Strategy Executive Chairman Michael Saylor addressed the "selling coins controversy" during his appearance on The Wolf Of All Streets podcast. He acknowledged that the company might indeed sell a portion of its Bitcoin when necessary, but emphasized that this does not equate to reducing its holdings; rather, it is a crucial part of the overall capital strategy. Saylor provided three core reasons: First, if the market and credit rating agencies determine that Strategy will never sell its coins, then the $65 billion in Bitcoin will not be viewed as a true asset, thereby weakening 98% of the company's business foundation. Second, Strategy has billions of dollars in tax credits, and selling Bitcoin with a high cost basis can realize these tax benefits to finance preferred stock dividends. Third, in conjunction with the issuance of preferred stock tools like STRC, for every Bitcoin sold, Strategy can buy back 10, thereby not only maintaining its net position but actually increasing its holdings.

Michael Saylor Explains Why Selling Bitcoin May Be Necessary

On May 11, Michael Saylor announced that Strategy purchased an additional 535 bitcoins on May 10, with a total value of approximately $43 million and an average purchase price of about $80,340. Saylor noted that Strategy's BTC yield has reached 9.4% year-to-date in 2026. As of May 10, 2026, Strategy holds a total of 818,869 BTC, with a total acquisition cost of approximately $61.86 billion and an average holding cost of about $75,540.

[Strategy Increases Bitcoin Holdings by 535, Total Holdings Reach 818,869]On May 11, Michael Saylor announced that Strategy purchased an additional 535 bitcoins on May 10, with a total value of approximately $43 million and an average purchase price of about $80,340. Saylor noted that Strategy's BTC yield has reached 9.4% year-to-date in 2026. As of May 10, 2026, Strategy holds a total of 818,869 BTC, with a total acquisition cost of approximately $61.86 billion and an average holding cost of about $75,540.

Strategy Increases Bitcoin Holdings by 535, Total Holdings Reach 818,869

On May 11, Tether launched a developer grant program that will reward developers with USDT or Bitcoin for building localized AI and payment infrastructure. The program has no overall funding cap and rewards are distributed based on technical tasks and deliverables, with current individual bonuses ranging from approximately $1,500 to $4,000. The funding focuses on Tether's open-source technology stack, including wallet infrastructure, browser extensions, and e-commerce integrations, with particular support for its local AI platform QVAC. Tether stated that QVAC can run AI inference directly on devices without relying on cloud servers, thereby reducing latency, costs, and data exposure risks. Additionally, Tether will promote the development of its Wallet Development Kit (WDK) ecosystem. This tool allows developers to directly embed self-custody wallets within applications, enabling local key generation, transaction signing, and asset transfers without relying on custodial services or third-party APIs. Tether CEO Paolo Ardoino noted that much of the current infrastructure still forces developers to depend on centralized platforms and data business models, and Tether aims to fund systems that can 'run locally, hold value directly, and operate without external dependencies' to enter the market.

[Tether Launches Developer Grant Program to Support Local AI and Self-Custody Payment Infrastructure]On May 11, Tether launched a developer grant program that will reward developers with USDT or Bitcoin for building localized AI and payment infrastructure. The program has no overall funding cap and rewards are distributed based on technical tasks and deliverables, with current individual bonuses ranging from approximately $1,500 to $4,000. The funding focuses on Tether's open-source technology stack, including wallet infrastructure, browser extensions, and e-commerce integrations, with particular support for its local AI platform QVAC. Tether stated that QVAC can run AI inference directly on devices without relying on cloud servers, thereby reducing latency, costs, and data exposure risks. Additionally, Tether will promote the development of its Wallet Development Kit (WDK) ecosystem. This tool allows developers to directly embed self-custody wallets within applications, enabling local key generation, transaction signing, and asset transfers without relying on custodial services or third-party APIs. Tether CEO Paolo Ardoino noted that much of the current infrastructure still forces developers to depend on centralized platforms and data business models, and Tether aims to fund systems that can 'run locally, hold value directly, and operate without external dependencies' to enter the market.

Tether Launches Developer Grant Program to Support Local AI and Self-Custody Payment Infrastructure

According to Dongcha Beating monitoring, Colossus magazine published a three-hour interview with Scott Wu, the founder of Cognition. In the interview, Scott Wu discussed a rarely considered question: What do humans excel at compared to AI? His answer is not reasoning—AI has already won in pure logical reasoning. What humans truly excel at is retrieval, that sudden ability to 'remember.' He used the example of a mobile phone verification code. A two-step verification code is six digits long; if it were ten digits, most people probably wouldn't be able to remember it. The 'context window' of the human brain is that short. However, the human brain can do something that AI cannot: when you open a code file, suddenly you recall a bug you fixed four months ago, along with what happened, how you fixed it, and why you made that change—all of it floods back. Wu refers to this as 'soft context'; it's not verbatim memory, but rather the accumulated experience from years of work, precisely triggered by a clue. He mentioned that in his daily decision-making at Cognition, he relies not on deriving a logic problem from scratch, but on automatically recalling 'why we designed it this way' or 'after that new technology came out, we decided to migrate to another framework'—these long-accumulated implicit judgments. AI's context window is much larger than that of humans, but it still falls short in this cross-temporal and cross-scenario associative retrieval. AI is catching up through two paths. One is vector retrieval (embedding search), which extracts relevant fragments from vast historical data, serving as a direct imitation of human associative memory. The other, more radical approach is continual learning, allowing AI to update its weights while working, similar to the neuroscience concept that 'neurons that fire together wire together.' Wu believes that the second path is closer to the true operation of the human brain, but it is still in its early stages. Near the end of the interview, he stated: 'To develop AI to its fullest extent is essentially to solve cognition itself. Humans have been accelerating various tasks for thousands of years, but one thing has remained unchanged: there has to be a person to think and invent. Now even that premise might be altered.'

[Cognition Founder: AI Has Surpassed Humans in Pure Reasoning, Our Last Advantage is Memory Retrieval]According to Dongcha Beating monitoring, Colossus magazine published a three-hour interview with Scott Wu, the founder of Cognition. In the interview, Scott Wu discussed a rarely considered question: What do humans excel at compared to AI? His answer is not reasoning—AI has already won in pure logical reasoning. What humans truly excel at is retrieval, that sudden ability to 'remember.' He used the example of a mobile phone verification code. A two-step verification code is six digits long; if it were ten digits, most people probably wouldn't be able to remember it. The 'context window' of the human brain is that short. However, the human brain can do something that AI cannot: when you open a code file, suddenly you recall a bug you fixed four months ago, along with what happened, how you fixed it, and why you made that change—all of it floods back. Wu refers to this as 'soft context'; it's not verbatim memory, but rather the accumulated experience from years of work, precisely triggered by a clue. He mentioned that in his daily decision-making at Cognition, he relies not on deriving a logic problem from scratch, but on automatically recalling 'why we designed it this way' or 'after that new technology came out, we decided to migrate to another framework'—these long-accumulated implicit judgments. AI's context window is much larger than that of humans, but it still falls short in this cross-temporal and cross-scenario associative retrieval. AI is catching up through two paths. One is vector retrieval (embedding search), which extracts relevant fragments from vast historical data, serving as a direct imitation of human associative memory. The other, more radical approach is continual learning, allowing AI to update its weights while working, similar to the neuroscience concept that 'neurons that fire together wire together.' Wu believes that the second path is closer to the true operation of the human brain, but it is still in its early stages. Near the end of the interview, he stated: 'To develop AI to its fullest extent is essentially to solve cognition itself. Humans have been accelerating various tasks for thousands of years, but one thing has remained unchanged: there has to be a person to think and invent. Now even that premise might be altered.'

Cognition Founder: AI Has Surpassed Humans in Pure Reasoning, Our Last Advantage is Memory Retrieval

According to Forbes, cryptocurrency financial company Galaxy has announced a partnership with Ethereum treasury firm SharpLink to launch a $125 million DeFi fund called the 'Galaxy SharpLink Onchain Yield Fund,' focusing on high-yield strategies such as on-chain lending and liquidity provision. The fund is expected to go live in the coming weeks, with SharpLink contributing $100 million from its ETH reserves and Galaxy contributing $25 million. Galaxy will serve as the exclusive fund manager, responsible for protocol selection, position allocation, and risk management.

[Galaxy and SharpLink Launch $125 Million DeFi Fund]According to Forbes, cryptocurrency financial company Galaxy has announced a partnership with Ethereum treasury firm SharpLink to launch a $125 million DeFi fund called the 'Galaxy SharpLink Onchain Yield Fund,' focusing on high-yield strategies such as on-chain lending and liquidity provision. The fund is expected to go live in the coming weeks, with SharpLink contributing $100 million from its ETH reserves and Galaxy contributing $25 million. Galaxy will serve as the exclusive fund manager, responsible for protocol selection, position allocation, and risk management.

Galaxy and SharpLink Launch $125 Million DeFi Fund

On May 11, Strategy purchased 535 Bitcoins last week at a price of approximately $80,340 each, totaling about $43 million, achieving a Bitcoin yield of 9.4% from 2026 to date. As of May 10, 2026, Strategy holds 818,869 Bitcoins, with a total value of approximately $61.86 billion and an average price of about $75,540 per Bitcoin.

[Strategy Acquires 535 Bitcoins for Approximately $43 Million]On May 11, Strategy purchased 535 Bitcoins last week at a price of approximately $80,340 each, totaling about $43 million, achieving a Bitcoin yield of 9.4% from 2026 to date. As of May 10, 2026, Strategy holds 818,869 Bitcoins, with a total value of approximately $61.86 billion and an average price of about $75,540 per Bitcoin.

Strategy Acquires 535 Bitcoins for Approximately $43 Million

Tether has announced the launch of its Developer Grants Program, which will provide financial support to developers building products based on its open-source technology stack. There is no overall funding cap, and payments will be made based on specific technical deliverables. The program is now open for applications, allowing developers to earn USDT or Bitcoin rewards by completing designated tasks, with individual grant amounts ranging from approximately $1,500 to $4,000, covering areas such as wallet infrastructure, browser plugins, and e-commerce payment integration.

[Tether Launches Developer Grants Program Open for Applications, Supporting Localized AI and Decentralized Payment Infrastructure]Tether has announced the launch of its Developer Grants Program, which will provide financial support to developers building products based on its open-source technology stack. There is no overall funding cap, and payments will be made based on specific technical deliverables. The program is now open for applications, allowing developers to earn USDT or Bitcoin rewards by completing designated tasks, with individual grant amounts ranging from approximately $1,500 to $4,000, covering areas such as wallet infrastructure, browser plugins, and e-commerce payment integration.

Tether Launches Developer Grants Program Open for Applications, Supporting Localized AI and Decentralized Payment Infrastructure

According to monitoring by Dongcha Beating, Colossus magazine published a three-hour interview with Cognition founder Scott Wu. During the interview, the reporter asked Scott Wu an interesting question: Why are almost all the leading figures in the AI industry from the competitive programming circle? The reporter compared this to the 'Martians of Budapest' in the early 20th century: Hungarian Jewish geniuses like von Neumann, Szilard, and Teller, who were born around the same time, attended similar schools, participated in similar math competitions, and ultimately came together in Los Alamos to create the atomic bomb. This analogy is not exaggerated when applied to today's AI circle. Among Wu's IOI teammates, Alexandr Wang founded Scale AI, Johnny Ho co-founded Perplexity, Jesse Zhang founded Decagon, and Jeffrey Yan founded Hyperliquid. Looking further afield: OpenAI co-founder Greg Brockman was in the top 24 of national math competitions and won a silver medal in the chemistry Olympiad; OpenAI research lead Mark Chen led the US IOI national team with Wu; OpenAI chief scientist Jakub Pachocki has faced Wu many times in international competitions; and Anthropic founder Dario Amodei was part of the US physics competition national team. Wu's explanation is simple: competitions filter for two things, intelligence and resilience. He used the word 'salty,' saying he has always wanted to win against everyone, regardless of their age. Those who are smart enough and resilient enough will eventually catch up in product sense, leadership skills, and business judgment after spending a few years in the field. As for why everyone seems to be starting their ventures at the same time, Wu credited Alexandr Wang as the biggest contributor. The two became best friends on Google Hangouts during high school and even wrote a startup idea document together. Wang was the first to truly venture into entrepreneurship, prompting others to follow suit. Wu stated, 'Many people didn't even know entrepreneurship was an option. We were lucky to experience this together and watch each other grow.' He also likened entrepreneurship to poker: early poker masters relied on intuition and street experience, but now the table is filled with math geniuses. AI entrepreneurship has reached this point, where founders with a strong technical foundation are more successful than those who are merely good at storytelling, as the core challenges revolve around hard technical problems.

[Cognition Founder: Top AI Entrepreneurs Mostly from Competitive Programming Backgrounds, Entrepreneurship Becoming Like 'Mathematical Poker']According to monitoring by Dongcha Beating, Colossus magazine published a three-hour interview with Cognition founder Scott Wu. During the interview, the reporter asked Scott Wu an interesting question: Why are almost all the leading figures in the AI industry from the competitive programming circle? The reporter compared this to the 'Martians of Budapest' in the early 20th century: Hungarian Jewish geniuses like von Neumann, Szilard, and Teller, who were born around the same time, attended similar schools, participated in similar math competitions, and ultimately came together in Los Alamos to create the atomic bomb. This analogy is not exaggerated when applied to today's AI circle. Among Wu's IOI teammates, Alexandr Wang founded Scale AI, Johnny Ho co-founded Perplexity, Jesse Zhang founded Decagon, and Jeffrey Yan founded Hyperliquid. Looking further afield: OpenAI co-founder Greg Brockman was in the top 24 of national math competitions and won a silver medal in the chemistry Olympiad; OpenAI research lead Mark Chen led the US IOI national team with Wu; OpenAI chief scientist Jakub Pachocki has faced Wu many times in international competitions; and Anthropic founder Dario Amodei was part of the US physics competition national team. Wu's explanation is simple: competitions filter for two things, intelligence and resilience. He used the word 'salty,' saying he has always wanted to win against everyone, regardless of their age. Those who are smart enough and resilient enough will eventually catch up in product sense, leadership skills, and business judgment after spending a few years in the field. As for why everyone seems to be starting their ventures at the same time, Wu credited Alexandr Wang as the biggest contributor. The two became best friends on Google Hangouts during high school and even wrote a startup idea document together. Wang was the first to truly venture into entrepreneurship, prompting others to follow suit. Wu stated, 'Many people didn't even know entrepreneurship was an option. We were lucky to experience this together and watch each other grow.' He also likened entrepreneurship to poker: early poker masters relied on intuition and street experience, but now the table is filled with math geniuses. AI entrepreneurship has reached this point, where founders with a strong technical foundation are more successful than those who are merely good at storytelling, as the core challenges revolve around hard technical problems.

Cognition Founder: Top AI Entrepreneurs Mostly from Competitive Programming Backgrounds, Entrepreneurship Becoming Like 'Mathematical Poker'

New York-based asset manager WisdomTree's (WETF) average crypto asset holdings fell 36% year-over-year to $178 million in the third quarter of the year, according to Friday's earnings report, CoinDesk reported. At the end of the third quarter last year, WisdomTree reported its crypto asset holdings at $265 million, and the continued correction in the crypto market over the three months of the third quarter resulted in $87 million in depreciation on WisdomTree's assets. This represents a 33% YoY decline from the $265 million at the end of the second quarter of this year.

Detail

【Asset manager WisdomTree's crypto asset value under management falls 36% year-over-year to $178 million in Q3】New York-based asset manager WisdomTree's (WETF) average crypto asset holdings fell 36% year-over-year to $178 million in the third quarter of the year, according to Friday's earnings report, CoinDesk reported. At the end of the third quarter last year, WisdomTree reported its crypto asset holdings at $265 million, and the continued correction in the crypto market over the three months of the third quarter resulted in $87 million in depreciation on WisdomTree's assets. This represents a 33% YoY decline from the $265 million at the end of the second quarter of this year.

Asset manager WisdomTree's crypto asset value under management falls 36% year-over-year to $178 million in Q3

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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.

Asset manager WisdomTree's crypto asset value under management falls 36% year-over-year to $178 million in Q3

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

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