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On May 9, Andre Cronje shared that the annualized yield of USDC on the Sonic network has reached 5.11%, while the yield for USDT and ftUSD on Ethereum has reached 5.27%. Andre Cronje emphasized that these yields do not rely on token incentives, subsidies, or points systems, nor do they require circular leverage, staking lock-up periods, or exit queues, while also supporting instant redemption and liquidity. He stated that DeFi is still far from its peak, and there remains a vast amount of space to explore and build in the on-chain world.

[AC: USDC Yield on Sonic Reaches 5.11%, DeFi Far from Its Peak]On May 9, Andre Cronje shared that the annualized yield of USDC on the Sonic network has reached 5.11%, while the yield for USDT and ftUSD on Ethereum has reached 5.27%. Andre Cronje emphasized that these yields do not rely on token incentives, subsidies, or points systems, nor do they require circular leverage, staking lock-up periods, or exit queues, while also supporting instant redemption and liquidity. He stated that DeFi is still far from its peak, and there remains a vast amount of space to explore and build in the on-chain world.

AC: USDC Yield on Sonic Reaches 5.11%, DeFi Far from Its Peak

On May 9, ECB Governing Council Member and Governor of the Bank of Spain, Escrivá, stated: "The latest developments in artificial intelligence are forcing us to reassess the resilience of financial infrastructure and cybersecurity. We are experiencing an unprecedented wave of technological transformation that is not only reshaping the fundamental structure of our economy but also bringing new risks."

[ECB Governing Council Member: Latest Developments in AI Force Reevaluation of Financial Infrastructure and Cybersecurity Resilience]On May 9, ECB Governing Council Member and Governor of the Bank of Spain, Escrivá, stated: "The latest developments in artificial intelligence are forcing us to reassess the resilience of financial infrastructure and cybersecurity. We are experiencing an unprecedented wave of technological transformation that is not only reshaping the fundamental structure of our economy but also bringing new risks."

ECB Governing Council Member: Latest Developments in AI Force Reevaluation of Financial Infrastructure and Cybersecurity Resilience

On May 9, following the Kelp security incident, Tether's asset interoperability protocol USDT0 announced details of its security architecture. The protocol stated that the current system employs a proprietary Decentralized Verification Network (DVN) and has message veto power, requiring three independent validators to reach a 3/3 consensus based on different codebases before cross-chain messages can be settled. The current validating nodes include USDT0's proprietary DVN, LayerZero, and Canary, with plans to expand to 4/4 and 5/5 verification mechanisms in the future. USDT0 also stated that all multi-signature transactions must undergo multiple reviews by internal teams, external security teams, and auditing agencies before submission for signing. Relevant contracts have been audited by organizations such as Guardian and OpenZeppelin, and a $6 million bug bounty program has been launched on Immunefi.

[USDT0 Reveals Security Architecture Details: Implements 3/3 Verification Mechanism and Launches $6 Million Bug Bounty Program]On May 9, following the Kelp security incident, Tether's asset interoperability protocol USDT0 announced details of its security architecture. The protocol stated that the current system employs a proprietary Decentralized Verification Network (DVN) and has message veto power, requiring three independent validators to reach a 3/3 consensus based on different codebases before cross-chain messages can be settled. The current validating nodes include USDT0's proprietary DVN, LayerZero, and Canary, with plans to expand to 4/4 and 5/5 verification mechanisms in the future. USDT0 also stated that all multi-signature transactions must undergo multiple reviews by internal teams, external security teams, and auditing agencies before submission for signing. Relevant contracts have been audited by organizations such as Guardian and OpenZeppelin, and a $6 million bug bounty program has been launched on Immunefi.

USDT0 Reveals Security Architecture Details: Implements 3/3 Verification Mechanism and Launches $6 Million Bug Bounty Program

On May 9, trader Eugene Ng Ah Sio posted on his personal channel, stating, "Multiple charts appear to be nearing a bottom, while Bitcoin is still hovering around $80,000—I believe that in about a week, the market will start to see a significant trend (hopefully upward). Many altcoins are also expected to break out of their current consolidation range. From the overall trading volume and open interest (OI) levels, most cryptocurrencies now require relatively less marginal buying pressure to push prices higher, so I generally believe that market allocation for most assets remains low. What the market needs now is for Bitcoin to decisively break through the $80,000 mark, followed by key altcoins (such as ETH, SOL, HYPE) taking the lead to initiate a new clear upward trend. I hope we don't get pushed back here."

[Eugene: Multiple Charts Approaching Bottom, Bitcoin Nearing Key Breakthrough, Altcoins May Experience New Uptrend]On May 9, trader Eugene Ng Ah Sio posted on his personal channel, stating, "Multiple charts appear to be nearing a bottom, while Bitcoin is still hovering around $80,000—I believe that in about a week, the market will start to see a significant trend (hopefully upward). Many altcoins are also expected to break out of their current consolidation range. From the overall trading volume and open interest (OI) levels, most cryptocurrencies now require relatively less marginal buying pressure to push prices higher, so I generally believe that market allocation for most assets remains low. What the market needs now is for Bitcoin to decisively break through the $80,000 mark, followed by key altcoins (such as ETH, SOL, HYPE) taking the lead to initiate a new clear upward trend. I hope we don't get pushed back here."

Eugene: Multiple Charts Approaching Bottom, Bitcoin Nearing Key Breakthrough, Altcoins May Experience New Uptrend

On May 9, Bitcoin Treasuries.NET posted on platform X that according to its latest monthly report, Strategy MSTR purchased 56,000 BTC in April, which is 28 times the total amount purchased by all other public companies during the same period.

[Strategy MSTR's Bitcoin Purchases in April Exceed Total of Other Public Companies by 28 Times]On May 9, Bitcoin Treasuries.NET posted on platform X that according to its latest monthly report, Strategy MSTR purchased 56,000 BTC in April, which is 28 times the total amount purchased by all other public companies during the same period.

Strategy MSTR's Bitcoin Purchases in April Exceed Total of Other Public Companies by 28 Times

On May 9, BlackRock, the world's largest asset management firm, is planning to launch two tokenized money market funds aimed at stablecoin holders, indicating its further bet on the long-term growth trend of the 'digital dollar economy.' According to the latest filing, BlackRock intends to introduce an on-chain digital share class for its approximately $6.1 billion BlackRock Select Treasury Based Liquidity Fund (BSTBL). The fund primarily invests in cash, U.S. Treasury bills, and short-term securities with maturities not exceeding 93 days. The newly issued tokenized fund shares will be deployed on the Ethereum blockchain and will operate in parallel with existing traditional fund shares. The market views this move as a sign that traditional asset management giants are continuing to push traditional financial assets like U.S. Treasuries and money market funds onto the blockchain, further connecting stablecoins with real-world asset (RWA) ecosystems.

[BlackRock Plans to Launch Two Tokenized Money Market Funds Targeting Stablecoin Asset Management Needs]On May 9, BlackRock, the world's largest asset management firm, is planning to launch two tokenized money market funds aimed at stablecoin holders, indicating its further bet on the long-term growth trend of the 'digital dollar economy.' According to the latest filing, BlackRock intends to introduce an on-chain digital share class for its approximately $6.1 billion BlackRock Select Treasury Based Liquidity Fund (BSTBL). The fund primarily invests in cash, U.S. Treasury bills, and short-term securities with maturities not exceeding 93 days. The newly issued tokenized fund shares will be deployed on the Ethereum blockchain and will operate in parallel with existing traditional fund shares. The market views this move as a sign that traditional asset management giants are continuing to push traditional financial assets like U.S. Treasuries and money market funds onto the blockchain, further connecting stablecoins with real-world asset (RWA) ecosystems.

BlackRock Plans to Launch Two Tokenized Money Market Funds Targeting Stablecoin Asset Management Needs

On May 9, at the Consensus 2026 conference, Trust Wallet CEO Felix Fan and Mesh CTO Arjun Mukherjee stated that AI Agents are driving the reconstruction of crypto wallet architecture, enabling AI to hold assets, conduct on-chain transactions, and establish on-chain identities. Trust Wallet has launched the Agent Kit, allowing AI Agents to autonomously execute transactions, transfers, and other on-chain operations, and is advancing Ethereum proposal EIP-8004 to provide on-chain identity and credit scoring systems for AI Agents. Felix Fan mentioned that the consumer side still adheres to the 'user holds the keys, gradually authorizing' model, with AI acting more as an assistant for on-chain operations; whereas on the developer side, Agents are allowed to execute operations more autonomously. Mesh has introduced Smart Funding technology, which can automatically route funds between different chains, accounts, and tokens to reduce the complexity of using Web3. The CTO of Mesh noted that one of the core issues faced by AI Agents is 'cold start'—without wallets and funds, Agents cannot truly act, and crypto wallets serve as the foundational financial layer for AI. Both executives believe that major AI platforms in the future may launch their own wallets. Felix Fan mentioned that X has publicly advanced X Money, and Grok is likely to also have a built-in wallet, stating, 'AI like Claude may also run directly on-chain in the future.'

[Perspective: Crypto Wallets are Reconstructing for AI Agents, Future AI May Have Independent On-Chain Wallets]On May 9, at the Consensus 2026 conference, Trust Wallet CEO Felix Fan and Mesh CTO Arjun Mukherjee stated that AI Agents are driving the reconstruction of crypto wallet architecture, enabling AI to hold assets, conduct on-chain transactions, and establish on-chain identities. Trust Wallet has launched the Agent Kit, allowing AI Agents to autonomously execute transactions, transfers, and other on-chain operations, and is advancing Ethereum proposal EIP-8004 to provide on-chain identity and credit scoring systems for AI Agents. Felix Fan mentioned that the consumer side still adheres to the 'user holds the keys, gradually authorizing' model, with AI acting more as an assistant for on-chain operations; whereas on the developer side, Agents are allowed to execute operations more autonomously. Mesh has introduced Smart Funding technology, which can automatically route funds between different chains, accounts, and tokens to reduce the complexity of using Web3. The CTO of Mesh noted that one of the core issues faced by AI Agents is 'cold start'—without wallets and funds, Agents cannot truly act, and crypto wallets serve as the foundational financial layer for AI. Both executives believe that major AI platforms in the future may launch their own wallets. Felix Fan mentioned that X has publicly advanced X Money, and Grok is likely to also have a built-in wallet, stating, 'AI like Claude may also run directly on-chain in the future.'

Perspective: Crypto Wallets are Reconstructing for AI Agents, Future AI May Have Independent On-Chain Wallets

On May 9, it was reported that the Iran war is disrupting oil transportation in the Persian Gulf, leading to a record-speed depletion of global oil inventories, which are meant to cushion against supply shocks. The rapid shrinkage of these stocks indicates that the risk of extreme price spikes and supply shortages is increasing. With the Strait of Hormuz nearing closure for two months, governments and industries have fewer options to cope with the impact of over 1 billion barrels of supply loss. The sharp depletion of inventories also means that even after the conflict ends, the market will remain vulnerable to future supply disruptions for a longer period. Morgan Stanley estimates that from March 1 to April 25, global oil inventories decreased by an average of about 4.8 million barrels per day, far exceeding the previous peak of quarterly inventory reductions compiled by the International Energy Agency. Nearly 60% of the decrease was in crude oil, with the remainder in refined products. The key point is that the oil system also needs to establish a minimum inventory level. Natasha Kaneva, head of global commodities research at JPMorgan, stated that this means that before inventories truly hit rock bottom, the portion of safety stock that cannot be moved has already been reached.

[Institution: Iran War Draining Global Oil Buffer Stocks at Unprecedented Rate]On May 9, it was reported that the Iran war is disrupting oil transportation in the Persian Gulf, leading to a record-speed depletion of global oil inventories, which are meant to cushion against supply shocks. The rapid shrinkage of these stocks indicates that the risk of extreme price spikes and supply shortages is increasing. With the Strait of Hormuz nearing closure for two months, governments and industries have fewer options to cope with the impact of over 1 billion barrels of supply loss. The sharp depletion of inventories also means that even after the conflict ends, the market will remain vulnerable to future supply disruptions for a longer period. Morgan Stanley estimates that from March 1 to April 25, global oil inventories decreased by an average of about 4.8 million barrels per day, far exceeding the previous peak of quarterly inventory reductions compiled by the International Energy Agency. Nearly 60% of the decrease was in crude oil, with the remainder in refined products. The key point is that the oil system also needs to establish a minimum inventory level. Natasha Kaneva, head of global commodities research at JPMorgan, stated that this means that before inventories truly hit rock bottom, the portion of safety stock that cannot be moved has already been reached.

Institution: Iran War Draining Global Oil Buffer Stocks at Unprecedented Rate

On May 9, the re-staking protocol Kelp DAO released an update regarding the rsETH attack incident, stating that within the next 24 hours, the Kelp team will collaborate with Aave to execute a series of contract operations as part of the next phase of the rsETH underlying asset support process. Kelp indicated that users do not need to take any action during this period, and the reopening time window and next steps will be announced through official channels.

[Kelp to Execute rsETH Support Process Contracts with Aave in the Next 24 Hours]On May 9, the re-staking protocol Kelp DAO released an update regarding the rsETH attack incident, stating that within the next 24 hours, the Kelp team will collaborate with Aave to execute a series of contract operations as part of the next phase of the rsETH underlying asset support process. Kelp indicated that users do not need to take any action during this period, and the reopening time window and next steps will be announced through official channels.

Kelp to Execute rsETH Support Process Contracts with Aave in the Next 24 Hours

According to DefiLlama data, ETH has an on-chain lending liquidation line of approximately $49.25 million near $1286.

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【Data: ETH has an on-chain lending liquidation line of approximately $49.25 million near $1286】According to DefiLlama data, ETH has an on-chain lending liquidation line of approximately $49.25 million near $1286.

Data: ETH has an on-chain lending liquidation line of approximately $49.25 million near $1286

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This Week In Bitcoin: Top Developments That Could Signal A New Era

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Data: ETH has an on-chain lending liquidation line of approximately $49.25 million near $1286

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

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