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On May 12, Gelephu Mindfulness City in Bhutan launched an expedited licensing pathway for globally regulated cryptocurrency companies, providing eligible firms with comprehensive regulatory and banking services, 0% corporate income tax, and zero capital gains tax.

[Gelephu Mindfulness City in Bhutan Offers Tax Exemptions for Eligible Cryptocurrency Companies]On May 12, Gelephu Mindfulness City in Bhutan launched an expedited licensing pathway for globally regulated cryptocurrency companies, providing eligible firms with comprehensive regulatory and banking services, 0% corporate income tax, and zero capital gains tax.

Gelephu Mindfulness City in Bhutan Offers Tax Exemptions for Eligible Cryptocurrency Companies

According to monitoring by Dongcha Beating, Codex's /goal mode allows the Agent to loop continuously until the task is completed, but this amplifies the flaws in vague human prompts. OpenAI engineer Chris Hayduk pointed out from internal practical experience that vague instructions like 'optimize code' can cause the model to give up too early due to not knowing what the endpoint is, or to fall into a blind modification loop. To ensure the Agent can work steadily for days or even longer, he summarized three disciplines: - Eliminate qualitative terms and replace them with checklists: The model cannot assess what is 'better,' but it can understand 'reduce time by 20% without failing tests.' When faced with qualitative tasks like formatting papers, he even directly provided Codex with a Markdown checklist containing 200 formatting requirements, brutally transforming abstract tasks into quantitative ones—'completing all checkboxes means completion.' - Reduce validation time to minutes: The Agent needs to validate actions through testing. Do not let it run for hours in a large production environment; instead, provide it with a sample dataset and lightweight framework to make the feedback loop as short as possible. - Create three files as an 'external brain': Even with a large context window, it will lose memory after running for a few days. He recommends directly creating three Markdown files locally: PLAN.md (macro plan), EXPERIMENTS.md (record of experiments and outcomes), and EXPERIMENT_NOTES.md (real-time thinking drafts), forcing the model to write the trial-and-error process to the hard drive.

[Why Does Your Agent Stop Working After a Few Minutes? OpenAI Engineer: It Needs a Scoreboard and External Memory]According to monitoring by Dongcha Beating, Codex's /goal mode allows the Agent to loop continuously until the task is completed, but this amplifies the flaws in vague human prompts. OpenAI engineer Chris Hayduk pointed out from internal practical experience that vague instructions like 'optimize code' can cause the model to give up too early due to not knowing what the endpoint is, or to fall into a blind modification loop. To ensure the Agent can work steadily for days or even longer, he summarized three disciplines: - Eliminate qualitative terms and replace them with checklists: The model cannot assess what is 'better,' but it can understand 'reduce time by 20% without failing tests.' When faced with qualitative tasks like formatting papers, he even directly provided Codex with a Markdown checklist containing 200 formatting requirements, brutally transforming abstract tasks into quantitative ones—'completing all checkboxes means completion.' - Reduce validation time to minutes: The Agent needs to validate actions through testing. Do not let it run for hours in a large production environment; instead, provide it with a sample dataset and lightweight framework to make the feedback loop as short as possible. - Create three files as an 'external brain': Even with a large context window, it will lose memory after running for a few days. He recommends directly creating three Markdown files locally: PLAN.md (macro plan), EXPERIMENTS.md (record of experiments and outcomes), and EXPERIMENT_NOTES.md (real-time thinking drafts), forcing the model to write the trial-and-error process to the hard drive.

Why Does Your Agent Stop Working After a Few Minutes? OpenAI Engineer: It Needs a Scoreboard and External Memory

Alex Thorn, Director of Galaxy Research, posted on the X platform stating that the U.S. Senate Banking Committee has released the complete draft of the updated CLARITY Act, which includes significant adjustments in several key chapters, including: 1. A major rewrite of Chapter 1 regarding definitions and the authority of the Securities and Exchange Commission (SEC); 2. The addition of insider trading provisions in Section 109; 3. Updating 'common control' to 'coordinated control' in Chapter 2; 4. A rewrite of Section 301 to further clarify the regulatory boundaries between DeFi and CeFi; 5. Updating Section 404 to incorporate the compromise proposals from Tillis and Alsobrooks; 6. Adjusting Section 505 to narrow the scope of SEC's authority limitations in the tokenization space; 7. Restructuring the bankruptcy and insolvency framework in Sections 701 and 702; 8. The addition of Section 904, titled 'Build Now Act'; 9. The protective provisions for developers in the Blockchain Regulatory Certainty Act in Section 604 remain largely intact, with only minor modifications that do not weaken its core protections.

[Galaxy Research Director: Revised CLARITY Act Draft Adds Insider Trading Provisions and Multiple Adjustments]Alex Thorn, Director of Galaxy Research, posted on the X platform stating that the U.S. Senate Banking Committee has released the complete draft of the updated CLARITY Act, which includes significant adjustments in several key chapters, including: 1. A major rewrite of Chapter 1 regarding definitions and the authority of the Securities and Exchange Commission (SEC); 2. The addition of insider trading provisions in Section 109; 3. Updating 'common control' to 'coordinated control' in Chapter 2; 4. A rewrite of Section 301 to further clarify the regulatory boundaries between DeFi and CeFi; 5. Updating Section 404 to incorporate the compromise proposals from Tillis and Alsobrooks; 6. Adjusting Section 505 to narrow the scope of SEC's authority limitations in the tokenization space; 7. Restructuring the bankruptcy and insolvency framework in Sections 701 and 702; 8. The addition of Section 904, titled 'Build Now Act'; 9. The protective provisions for developers in the Blockchain Regulatory Certainty Act in Section 604 remain largely intact, with only minor modifications that do not weaken its core protections.

Galaxy Research Director: Revised CLARITY Act Draft Adds Insider Trading Provisions and Multiple Adjustments

According to monitoring by Dongcha Beating, Doubao Input Method, a product under ByteDance, has officially released its macOS version. Previously, this product only supported iOS and Android platforms, and the official page indicates that the Windows version is still under development. This version integrates the same voice model as Doubao, supporting accurate dialect recognition, light tone input, and Chinese-English mixed transcription, automatically filtering redundant words in spoken language during transcription. In terms of regular keyboard input, the product features long text error correction capabilities and can provide intelligent suggestions based on the context of previous text.

[Doubao Input Method Officially Launches Mac Version: Features Doubao Voice and Chinese-English Mixed Input]According to monitoring by Dongcha Beating, Doubao Input Method, a product under ByteDance, has officially released its macOS version. Previously, this product only supported iOS and Android platforms, and the official page indicates that the Windows version is still under development. This version integrates the same voice model as Doubao, supporting accurate dialect recognition, light tone input, and Chinese-English mixed transcription, automatically filtering redundant words in spoken language during transcription. In terms of regular keyboard input, the product features long text error correction capabilities and can provide intelligent suggestions based on the context of previous text.

Doubao Input Method Officially Launches Mac Version: Features Doubao Voice and Chinese-English Mixed Input

On May 12, TheBlock reported that the non-custodial crypto wallet Exodus (NYSE: EXOD) announced its Q1 2026 performance, with revenue of $22.7 million, a 37% year-over-year decline, primarily due to a 40.8% drop in exchange aggregation revenue. The net loss for the quarter widened to $32.1 million, compared to $12.9 million in the same period last year. The transaction volume was $1.18 billion, a 26% decrease quarter-over-quarter. Additionally, Exodus completed its acquisitions of Monavate and Baanx on May 1. In after-hours trading on Monday, Exodus's stock fell by 4.9%. The stock has risen 20.5% over the past month but is still down 47.9% year-to-date.

[Exodus Q1 Revenue Falls 37%, Net Loss Expands to $32.1 Million]On May 12, TheBlock reported that the non-custodial crypto wallet Exodus (NYSE: EXOD) announced its Q1 2026 performance, with revenue of $22.7 million, a 37% year-over-year decline, primarily due to a 40.8% drop in exchange aggregation revenue. The net loss for the quarter widened to $32.1 million, compared to $12.9 million in the same period last year. The transaction volume was $1.18 billion, a 26% decrease quarter-over-quarter. Additionally, Exodus completed its acquisitions of Monavate and Baanx on May 1. In after-hours trading on Monday, Exodus's stock fell by 4.9%. The stock has risen 20.5% over the past month but is still down 47.9% year-to-date.

Exodus Q1 Revenue Falls 37%, Net Loss Expands to $32.1 Million

On May 12, Wintermute released its weekly market summary, stating that the U.S. stock market continued its strong performance, recording a sixth consecutive week of gains, with the Nasdaq index rising by 4.5% and the S&P 500 index increasing by 2.3%, both reaching historic highs, as small-cap stocks and tech giants strengthened simultaneously. Non-farm payroll data exceeded expectations, with the unemployment rate stable at 4.3%, indicating a resilient labor market. Despite the turbulent situation in the Strait of Hormuz, the market viewed it as noise, with the war premium significantly retreating. Negotiations between Iran and the U.S. have returned to square one, as Iran's demands for sovereignty, compensation, and sanctions relief were outright rejected by Trump. This week's CPI data will test the transmission of energy prices to inflation, with Powell's term ending and Waller taking over, making the Fed's June FOMC dot plot a focal point. In the crypto asset space, Bitcoin broke through the $80,000 mark, reaching a high of around $83,000, and for the first time surpassed the 200-day moving average (the first time in seven months). However, this surge was clearly driven by leverage: open interest surged by $10 billion in a month, while spot trading volume hit a two-year low, indicating a typical short squeeze rather than a healthy breakout. Institutional funding remains supportive, with ETF net inflows of $623 million and trading platform reserves hitting a seven-year low, but short-term risks are elevated—RSI has entered the overbought zone, and if the squeeze ends without spot trading picking up, Bitcoin's price may quickly retreat. Altcoins are shifting towards personalized narratives, with tokenization and AI computing sectors performing notably. Overall, the crypto market's current rebound needs to be quickly validated as a true bull market starting point: it is primarily driven by resonance with the stock market and leverage, and if CPI rises or the Fed's leadership change brings uncertainty, Bitcoin's ability to maintain above $80,000 will become a critical confirmation signal.

[Wintermute: Recent Surge Driven by Leverage, Open Interest Soars Amid Declining Spot Volume]On May 12, Wintermute released its weekly market summary, stating that the U.S. stock market continued its strong performance, recording a sixth consecutive week of gains, with the Nasdaq index rising by 4.5% and the S&P 500 index increasing by 2.3%, both reaching historic highs, as small-cap stocks and tech giants strengthened simultaneously. Non-farm payroll data exceeded expectations, with the unemployment rate stable at 4.3%, indicating a resilient labor market. Despite the turbulent situation in the Strait of Hormuz, the market viewed it as noise, with the war premium significantly retreating. Negotiations between Iran and the U.S. have returned to square one, as Iran's demands for sovereignty, compensation, and sanctions relief were outright rejected by Trump. This week's CPI data will test the transmission of energy prices to inflation, with Powell's term ending and Waller taking over, making the Fed's June FOMC dot plot a focal point. In the crypto asset space, Bitcoin broke through the $80,000 mark, reaching a high of around $83,000, and for the first time surpassed the 200-day moving average (the first time in seven months). However, this surge was clearly driven by leverage: open interest surged by $10 billion in a month, while spot trading volume hit a two-year low, indicating a typical short squeeze rather than a healthy breakout. Institutional funding remains supportive, with ETF net inflows of $623 million and trading platform reserves hitting a seven-year low, but short-term risks are elevated—RSI has entered the overbought zone, and if the squeeze ends without spot trading picking up, Bitcoin's price may quickly retreat. Altcoins are shifting towards personalized narratives, with tokenization and AI computing sectors performing notably. Overall, the crypto market's current rebound needs to be quickly validated as a true bull market starting point: it is primarily driven by resonance with the stock market and leverage, and if CPI rises or the Fed's leadership change brings uncertainty, Bitcoin's ability to maintain above $80,000 will become a critical confirmation signal.

Wintermute: Recent Surge Driven by Leverage, Open Interest Soars Amid Declining Spot Volume

On May 12, Deutsche Bank announced that it has raised the target price for Intel (INTC.O) from $63 to $100. (Jin Shi)

[Deutsche Bank Raises Intel Target Price from $63 to $100]On May 12, Deutsche Bank announced that it has raised the target price for Intel (INTC.O) from $63 to $100. (Jin Shi)

Deutsche Bank Raises Intel Target Price from $63 to $100

On May 12, Wells Fargo's latest 13F filing revealed that it increased its holdings in several Ethereum ETFs in the first quarter of 2026, including BlackRock's ETHA and Bitwise's ETHW. Specifically, the holdings of ETHA rose from approximately 672,600 shares in Q4 2025 to about 1.1 million shares, an increase of about 63.5%; ETHW holdings grew from around 186,800 shares to approximately 257,000 shares, a rise of about 37%. As of the end of Q1, the total value of Wells Fargo's ETH ETF holdings was approximately $21.5 million. In contrast, its Bitcoin ETF holdings showed divergence: IBIT saw a slight decrease, while BITB and Grayscale Bitcoin Mini Trust ETF holdings increased by approximately 24% and 41%, respectively. Currently, IBIT remains its largest crypto ETF holding, valued at about $250 million. Additionally, Wells Fargo made significant adjustments to its crypto-related stock positions, reducing its holdings in Galaxy Digital by about 97%, while increasing its Strategy holdings from approximately 322,700 shares to 726,000 shares, an increase of about 125%.

[Wells Fargo Increases ETH ETF Holdings in Q1 and Significantly Boosts Strategy Stocks]On May 12, Wells Fargo's latest 13F filing revealed that it increased its holdings in several Ethereum ETFs in the first quarter of 2026, including BlackRock's ETHA and Bitwise's ETHW. Specifically, the holdings of ETHA rose from approximately 672,600 shares in Q4 2025 to about 1.1 million shares, an increase of about 63.5%; ETHW holdings grew from around 186,800 shares to approximately 257,000 shares, a rise of about 37%. As of the end of Q1, the total value of Wells Fargo's ETH ETF holdings was approximately $21.5 million. In contrast, its Bitcoin ETF holdings showed divergence: IBIT saw a slight decrease, while BITB and Grayscale Bitcoin Mini Trust ETF holdings increased by approximately 24% and 41%, respectively. Currently, IBIT remains its largest crypto ETF holding, valued at about $250 million. Additionally, Wells Fargo made significant adjustments to its crypto-related stock positions, reducing its holdings in Galaxy Digital by about 97%, while increasing its Strategy holdings from approximately 322,700 shares to 726,000 shares, an increase of about 125%.

Wells Fargo Increases ETH ETF Holdings in Q1 and Significantly Boosts Strategy Stocks

According to The Block, the European Parliament voted to terminate crypto-friendly vice-president Eva Kaili's term of office by a double majority. 625 votes favored Kaili's termination, while only one voted against and two abstained. Kaili's termination results from ongoing investigations involving some European Parliament members and staff. Kaili was leading a report on NFTs that was slated to come out in the weeks ahea

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【European Parliament terminates crypto-friendly Eva Kaili's term of office】According to The Block, the European Parliament voted to terminate crypto-friendly vice-president Eva Kaili's term of office by a double majority. 625 votes favored Kaili's termination, while only one voted against and two abstained. Kaili's termination results from ongoing investigations involving some European Parliament members and staff. Kaili was leading a report on NFTs that was slated to come out in the weeks ahea

European Parliament terminates crypto-friendly Eva Kaili's term of office

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European Parliament terminates crypto-friendly Eva Kaili's term of office

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