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On May 14, Fidelity International launched its first tokenized fund, the Fidelity USD Digital Liquidity Fund (FILQ), which has received the highest AAA-mf rating from Moody's for money market funds. FILQ is an on-chain version of its existing institutional-grade dollar liquidity fund, referencing Fidelity's nearly $7 billion low-volatility net asset value fund strategy, aimed at serving the 24/7 digital asset market. The fund's tokenization infrastructure is provided by Sygnum and integrates Chainlink oracles, with daily official net asset value data supplied by JPMorgan being recorded on-chain. Investors can subscribe and redeem at any time using stablecoins.

[Fidelity International's First Tokenized Fund Receives Moody's Highest AAA-mf Rating]On May 14, Fidelity International launched its first tokenized fund, the Fidelity USD Digital Liquidity Fund (FILQ), which has received the highest AAA-mf rating from Moody's for money market funds. FILQ is an on-chain version of its existing institutional-grade dollar liquidity fund, referencing Fidelity's nearly $7 billion low-volatility net asset value fund strategy, aimed at serving the 24/7 digital asset market. The fund's tokenization infrastructure is provided by Sygnum and integrates Chainlink oracles, with daily official net asset value data supplied by JPMorgan being recorded on-chain. Investors can subscribe and redeem at any time using stablecoins.

Fidelity International's First Tokenized Fund Receives Moody's Highest AAA-mf Rating

On May 14, the chairman of the National Security and Foreign Policy Committee of the Iranian Parliament, Aziz, stated on the 13th local time that Iran aims to leverage its geographical advantage of the Hormuz Strait through 'intelligent management' to enhance national strength. He revealed that the management plan for the Hormuz Strait has reached a final conclusion within the committee and has been submitted to the Iranian Parliament for review, awaiting final approval. (CCTV News)

[Iranian Official: Hormuz Strait Management Plan Submitted to Parliament for Review]On May 14, the chairman of the National Security and Foreign Policy Committee of the Iranian Parliament, Aziz, stated on the 13th local time that Iran aims to leverage its geographical advantage of the Hormuz Strait through 'intelligent management' to enhance national strength. He revealed that the management plan for the Hormuz Strait has reached a final conclusion within the committee and has been submitted to the Iranian Parliament for review, awaiting final approval. (CCTV News)

Iranian Official: Hormuz Strait Management Plan Submitted to Parliament for Review

On May 14, the UAE Foreign Ministry stated in a statement early on May 14 local time that the UAE denies reports regarding Israeli Prime Minister Netanyahu's visit to the UAE or the UAE hosting an Israeli military delegation. The statement emphasized that the UAE reaffirms that its relationship with Israel is open and transparent, conducted within the framework of the well-known and formally announced Abraham Accords, and not based on any opaque or unofficial arrangements. Therefore, any claims about undisclosed visits or undisclosed arrangements are baseless unless officially announced by the relevant UAE authorities.

[UAE Foreign Ministry Denies Reports of Netanyahu's Visit]On May 14, the UAE Foreign Ministry stated in a statement early on May 14 local time that the UAE denies reports regarding Israeli Prime Minister Netanyahu's visit to the UAE or the UAE hosting an Israeli military delegation. The statement emphasized that the UAE reaffirms that its relationship with Israel is open and transparent, conducted within the framework of the well-known and formally announced Abraham Accords, and not based on any opaque or unofficial arrangements. Therefore, any claims about undisclosed visits or undisclosed arrangements are baseless unless officially announced by the relevant UAE authorities.

UAE Foreign Ministry Denies Reports of Netanyahu's Visit

On May 14, Susan Collins, President of the Federal Reserve Bank of Boston, stated that the Federal Reserve may need to raise interest rates if inflationary pressures do not subside. "While this is not the most likely scenario in my predictions, I can envision a situation where certain policy tightening may be necessary to ensure that inflation returns to the 2% level in a timely and sustained manner." The outlook for FOMC monetary policy largely depends on the duration of the conflict in the Middle East, noting that the longer the conflict lasts, the greater the risks, particularly regarding inflation.

[Fed's Collins: Rate Hikes May Be Needed to Curb Inflation]On May 14, Susan Collins, President of the Federal Reserve Bank of Boston, stated that the Federal Reserve may need to raise interest rates if inflationary pressures do not subside. "While this is not the most likely scenario in my predictions, I can envision a situation where certain policy tightening may be necessary to ensure that inflation returns to the 2% level in a timely and sustained manner." The outlook for FOMC monetary policy largely depends on the duration of the conflict in the Middle East, noting that the longer the conflict lasts, the greater the risks, particularly regarding inflation.

Fed's Collins: Rate Hikes May Be Needed to Curb Inflation

On May 14, it was reported that Consensys has postponed its potential IPO plans to the fall.

[Consensys Has Postponed Its Potential IPO Plans to Fall]On May 14, it was reported that Consensys has postponed its potential IPO plans to the fall.

Consensys Has Postponed Its Potential IPO Plans to Fall

On May 14, Musk's xAI is intensifying efforts to promote the use of the Grok chatbot among Wall Street companies. Apollo and Morgan Stanley have begun using Grok internally, alongside software from other AI model manufacturers.

[Musk's xAI Accelerates Adoption of Grok Chatbot by Wall Street Firms]On May 14, Musk's xAI is intensifying efforts to promote the use of the Grok chatbot among Wall Street companies. Apollo and Morgan Stanley have begun using Grok internally, alongside software from other AI model manufacturers.

Musk's xAI Accelerates Adoption of Grok Chatbot by Wall Street Firms

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

According to Coindesk, crypto-friendly BankProv has stopped offering loans collateralized with crypto mining machines and said its portfolio of digital-asset loans fell 50% in the fourth quarter as some impaired loans were sold on and a line of credit was repaid. The Massachusetts-based bank held $41.2 million in digital asset-related loans at the end of December. Of that, $26.7 million is collateralized with crypto mining machines, and the amount "will continue to decline as the Bank is no longer originating this type of loan," holding company Provident Bank (PVBC) said in a Tuesday filing with the U.S. Securities and Exchange Commission. BankProv had $1.42 billion of net loans in total at the end of December.

Detail

【BankProv stops offering loans collateralized with crypto mining machines】According to Coindesk, crypto-friendly BankProv has stopped offering loans collateralized with crypto mining machines and said its portfolio of digital-asset loans fell 50% in the fourth quarter as some impaired loans were sold on and a line of credit was repaid. The Massachusetts-based bank held $41.2 million in digital asset-related loans at the end of December. Of that, $26.7 million is collateralized with crypto mining machines, and the amount "will continue to decline as the Bank is no longer originating this type of loan," holding company Provident Bank (PVBC) said in a Tuesday filing with the U.S. Securities and Exchange Commission. BankProv had $1.42 billion of net loans in total at the end of December.

BankProv stops offering loans collateralized with crypto mining machines

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