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On May 13, Futu Holdings' wholly-owned licensed trading platform, Leopard Trading, announced the successful completion of on-chain transfer tests for the Hong Kong dollar stablecoin 'HKDAP' on the Ethereum mainnet, in collaboration with Hong Kong licensed stablecoin issuer AnchorPoint FinTech Limited. The OSL Group also participated in this collaborative test. The test covered the entire process of converting fiat Hong Kong dollars into reserve assets, minting HKDAP, and completing on-chain transfers. Standard Chartered Bank provided the infrastructure and institutional trust services to ensure that all minted and transferred HKDAP is fully backed by 100% reserve assets. After the test, all issued HKDAP tokens were fully redeemed.

[Futu's Leopard Trading Completes HKD Stablecoin HKDAP On-Chain Transfer Test with AnchorPoint FinTech]On May 13, Futu Holdings' wholly-owned licensed trading platform, Leopard Trading, announced the successful completion of on-chain transfer tests for the Hong Kong dollar stablecoin 'HKDAP' on the Ethereum mainnet, in collaboration with Hong Kong licensed stablecoin issuer AnchorPoint FinTech Limited. The OSL Group also participated in this collaborative test. The test covered the entire process of converting fiat Hong Kong dollars into reserve assets, minting HKDAP, and completing on-chain transfers. Standard Chartered Bank provided the infrastructure and institutional trust services to ensure that all minted and transferred HKDAP is fully backed by 100% reserve assets. After the test, all issued HKDAP tokens were fully redeemed.

Futu's Leopard Trading Completes HKD Stablecoin HKDAP On-Chain Transfer Test with AnchorPoint FinTech

On May 13, during the Q4 fiscal year 2026 earnings call, Alibaba stated that revenue from AI models and application services is experiencing exponential growth and is becoming a new revenue engine. Wu Yongming expects that in the June quarter, the annual recurring revenue (ARR) from AI models and application services, including the Bailian MaaS platform, will surpass 10 billion yuan, and exceed 30 billion yuan by the end of the year. "The high profit margin advantage of this revenue segment is gradually becoming apparent and will be a pillar for our future healthy and high-quality revenue growth," he said. (Jiemian News)

[Wu Yongming: Alibaba's AI Model and Application ARR to Exceed 10 Billion Yuan in June Quarter, Surpassing 30 Billion Yuan by Year-End]On May 13, during the Q4 fiscal year 2026 earnings call, Alibaba stated that revenue from AI models and application services is experiencing exponential growth and is becoming a new revenue engine. Wu Yongming expects that in the June quarter, the annual recurring revenue (ARR) from AI models and application services, including the Bailian MaaS platform, will surpass 10 billion yuan, and exceed 30 billion yuan by the end of the year. "The high profit margin advantage of this revenue segment is gradually becoming apparent and will be a pillar for our future healthy and high-quality revenue growth," he said. (Jiemian News)

Wu Yongming: Alibaba's AI Model and Application ARR to Exceed 10 Billion Yuan in June Quarter, Surpassing 30 Billion Yuan by Year-End

According to monitoring by Dongcha Beating, Zhang Yutong, president of Dark Side of the Moon, revealed several internal details about the approximately 300-person company during a dialogue at Peking University's Guanghua School of Management. In terms of organization, Dark Side of the Moon has no titles for its employees, and the organizational hierarchy is extremely flat, with at most one or two layers between any two people. Job boundaries are also intentionally blurred: those working on pre-training can switch to post-training, those in algorithms can move to data, and those in marketing can also engage in model evaluation. Zhang Yutong explained that people's underlying intelligent capabilities are interconnected and should not be defined by labels. In recruitment, Dark Side of the Moon is already using an AI interview system to screen candidates. The system does not consider educational background or major, focusing instead on two things: whether candidates can propose original good ideas and whether they are willing to iterate obsessively on an idea. The AI system records how many iterations candidates have made, what different approaches they used, and how long they continued to try, filtering for those with 'abstract thinking ability and persistence.' In terms of product strategy, Zhang Yutong clearly stated that Kimi will only focus on productivity, concentrating on long-term, complex, and high economic value tasks, and will not engage in entertainment or lifestyle products. She also mentioned that K2.6 was adapted for Huawei's Ascend chips at the time of its open-source release and believes that the demand for inference computing power is exploding. When discussing the relationship between open source and security, Zhang Yutong directly named Anthropic: 'If you think the model is risky, then having it in the hands of a few people could pose an even greater risk.' Dark Side of the Moon has chosen to pursue an open-source route, reasoning that involving more people is safer than being closed off.

[300 Employees Without Titles, Using AI for Interviews: Zhang Yutong Discusses Operations at Dark Side of the Moon]According to monitoring by Dongcha Beating, Zhang Yutong, president of Dark Side of the Moon, revealed several internal details about the approximately 300-person company during a dialogue at Peking University's Guanghua School of Management. In terms of organization, Dark Side of the Moon has no titles for its employees, and the organizational hierarchy is extremely flat, with at most one or two layers between any two people. Job boundaries are also intentionally blurred: those working on pre-training can switch to post-training, those in algorithms can move to data, and those in marketing can also engage in model evaluation. Zhang Yutong explained that people's underlying intelligent capabilities are interconnected and should not be defined by labels. In recruitment, Dark Side of the Moon is already using an AI interview system to screen candidates. The system does not consider educational background or major, focusing instead on two things: whether candidates can propose original good ideas and whether they are willing to iterate obsessively on an idea. The AI system records how many iterations candidates have made, what different approaches they used, and how long they continued to try, filtering for those with 'abstract thinking ability and persistence.' In terms of product strategy, Zhang Yutong clearly stated that Kimi will only focus on productivity, concentrating on long-term, complex, and high economic value tasks, and will not engage in entertainment or lifestyle products. She also mentioned that K2.6 was adapted for Huawei's Ascend chips at the time of its open-source release and believes that the demand for inference computing power is exploding. When discussing the relationship between open source and security, Zhang Yutong directly named Anthropic: 'If you think the model is risky, then having it in the hands of a few people could pose an even greater risk.' Dark Side of the Moon has chosen to pursue an open-source route, reasoning that involving more people is safer than being closed off.

300 Employees Without Titles, Using AI for Interviews: Zhang Yutong Discusses Operations at Dark Side of the Moon

On May 13, according to CCTV News, U.S. President Donald Trump will arrive in Beijing aboard his special plane.

[Trump Arrives in Beijing]On May 13, according to CCTV News, U.S. President Donald Trump will arrive in Beijing aboard his special plane.

Trump Arrives in Beijing

On May 13, Bloomberg Senior ETF Analyst Eric Balchunas (@EricBalchunas) posted on social media, stating that since March this year, the Bitcoin Spot ETF IBIT has significantly outperformed the Gold ETF GLD, leading by a margin of 33 percentage points. In terms of capital flows, IBIT recorded a net inflow of $4.2 billion during this period, while GLD experienced a net outflow of $9 billion, resulting in a combined capital flow gap of up to $13 billion.

[Analyst: Bitcoin Spot ETF IBIT Significantly Outperforms Gold ETF GLD]On May 13, Bloomberg Senior ETF Analyst Eric Balchunas (@EricBalchunas) posted on social media, stating that since March this year, the Bitcoin Spot ETF IBIT has significantly outperformed the Gold ETF GLD, leading by a margin of 33 percentage points. In terms of capital flows, IBIT recorded a net inflow of $4.2 billion during this period, while GLD experienced a net outflow of $9 billion, resulting in a combined capital flow gap of up to $13 billion.

Analyst: Bitcoin Spot ETF IBIT Significantly Outperforms Gold ETF GLD

On May 13, Nebius, a stock held by NVIDIA, surged over 13% in pre-market trading. The company reported first-quarter revenue of $399 million, a year-on-year increase of 684%.

[NVIDIA Portfolio Stock Nebius Rises Over 13% in Pre-Market Trading]On May 13, Nebius, a stock held by NVIDIA, surged over 13% in pre-market trading. The company reported first-quarter revenue of $399 million, a year-on-year increase of 684%.

NVIDIA Portfolio Stock Nebius Rises Over 13% in Pre-Market Trading

On May 13, Charles Hoskinson, the founder of Cardano, recently commented on the removal of Clause 604 from the CLARITY Act. Hoskinson stated that if developers create open-source software and make it available to the world, but someone uses that software without their consent, holding the developers permanently liable is akin to a "dystopian nightmare." His remarks reflect concerns among some in the cryptocurrency industry regarding the liability provisions for open-source developers in the bill.

[Cardano Founder Claims Clause 604 of CLARITY Act May Hinder Open Source Innovation]On May 13, Charles Hoskinson, the founder of Cardano, recently commented on the removal of Clause 604 from the CLARITY Act. Hoskinson stated that if developers create open-source software and make it available to the world, but someone uses that software without their consent, holding the developers permanently liable is akin to a "dystopian nightmare." His remarks reflect concerns among some in the cryptocurrency industry regarding the liability provisions for open-source developers in the bill.

Cardano Founder Claims Clause 604 of CLARITY Act May Hinder Open Source Innovation

On the evening of May 13, President Trump will arrive in Beijing aboard a special aircraft.

[President Trump to Arrive in Beijing]On the evening of May 13, President Trump will arrive in Beijing aboard a special aircraft.

President Trump to Arrive in Beijing

Nasdaq-listed company Upexi announced a net loss of $109.3 million for the quarter ending March 31, 2026, compared to a net loss of $3.8 million for the same period last year. The company stated that the net loss was primarily due to an unrealized loss of $92.3 million on digital assets. According to the latest earnings report released by the company on Tuesday, Upexi generated total revenue of $4.6 million for the quarter ending March 31, 2026, up from $3.2 million in the same period last year. Despite the revenue growth, the company reported a net loss of $109.3 million for the quarter, compared to a net loss of $3.8 million in the same quarter of 2025. The loss per share was $1.67, compared to a loss of $2.87 per share in the same period last year. As of the end of March, the Nasdaq-listed company held 2.36 million SOL tokens, with a fair value of $184.9 million. The company's staking income for the quarter totaled $3.5 million. The company also announced the completion of a $36 million private placement of convertible bonds in exchange for 265,500 locked SOL tokens.

[Upexi Reports Q1 Net Loss of $109.3 Million, Holds 2.36 Million SOL Tokens]Nasdaq-listed company Upexi announced a net loss of $109.3 million for the quarter ending March 31, 2026, compared to a net loss of $3.8 million for the same period last year. The company stated that the net loss was primarily due to an unrealized loss of $92.3 million on digital assets. According to the latest earnings report released by the company on Tuesday, Upexi generated total revenue of $4.6 million for the quarter ending March 31, 2026, up from $3.2 million in the same period last year. Despite the revenue growth, the company reported a net loss of $109.3 million for the quarter, compared to a net loss of $3.8 million in the same quarter of 2025. The loss per share was $1.67, compared to a loss of $2.87 per share in the same period last year. As of the end of March, the Nasdaq-listed company held 2.36 million SOL tokens, with a fair value of $184.9 million. The company's staking income for the quarter totaled $3.5 million. The company also announced the completion of a $36 million private placement of convertible bonds in exchange for 265,500 locked SOL tokens.

Upexi Reports Q1 Net Loss of $109.3 Million, Holds 2.36 Million SOL Tokens

According to CNBC, Singapore still wants to be a hub for digital assets, but not one for speculating on cryptocurrencies, said Ravi Menon, managing director of central bank the Monetary of Singapore.
“If a crypto hub is about experimenting with programmable money, applying digital assets for use cases or tokenizing financial assets to increase efficiency and reduce risk in financial transactions, yes, we want to be a crypto hub,” said Menon in his opening address at the Singapore Fintech Festival 2022 on Thursday.

Detail

【Singapore wants to be a hub for blockchain in finance, just not speculative crypto trading, MAS says】According to CNBC, Singapore still wants to be a hub for digital assets, but not one for speculating on cryptocurrencies, said Ravi Menon, managing director of central bank the Monetary of Singapore.
“If a crypto hub is about experimenting with programmable money, applying digital assets for use cases or tokenizing financial assets to increase efficiency and reduce risk in financial transactions, yes, we want to be a crypto hub,” said Menon in his opening address at the Singapore Fintech Festival 2022 on Thursday.

Singapore wants to be a hub for blockchain in finance, just not speculative crypto trading, MAS says

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Singapore wants to be a hub for blockchain in finance, just not speculative crypto trading, MAS says

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