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On May 14, 20 FTX victims from five countries or regions filed a lawsuit against Silicon Valley law firm Fenwick & West LLP in the U.S. District Court for the District of Columbia, seeking over $525 million in damages. They accuse the firm of assisting in covering up FTX's fraudulent activities and helping the exchange maintain a 'legitimate appearance.' The lawsuit claims that Fenwick not only provided legal services but also assisted in designing corporate structures and operational arrangements that allowed client funds to be misappropriated while reducing the risk of external regulation and scrutiny. The plaintiffs have raised seven charges, including legal malpractice, fraud, and gross negligence, and are seeking compensation for their losses, as well as the return of all legal fees received by Fenwick from FTX, along with punitive damages against the relevant partners.

[FTX Victims Sue Silicon Valley Law Firm Fenwick & West for $525 Million]On May 14, 20 FTX victims from five countries or regions filed a lawsuit against Silicon Valley law firm Fenwick & West LLP in the U.S. District Court for the District of Columbia, seeking over $525 million in damages. They accuse the firm of assisting in covering up FTX's fraudulent activities and helping the exchange maintain a 'legitimate appearance.' The lawsuit claims that Fenwick not only provided legal services but also assisted in designing corporate structures and operational arrangements that allowed client funds to be misappropriated while reducing the risk of external regulation and scrutiny. The plaintiffs have raised seven charges, including legal malpractice, fraud, and gross negligence, and are seeking compensation for their losses, as well as the return of all legal fees received by Fenwick from FTX, along with punitive damages against the relevant partners.

FTX Victims Sue Silicon Valley Law Firm Fenwick & West for $525 Million

On May 14, Michael Saylor stated that STRC's volatility is 1.8%, the Sharpe ratio is 4.35, and the return is 11.5%. Tomorrow is the share registration day. Today is the additional issuance day.

[Michael Saylor: Today is STRC's Additional Issuance Day, Tomorrow is the Share Registration Day]On May 14, Michael Saylor stated that STRC's volatility is 1.8%, the Sharpe ratio is 4.35, and the return is 11.5%. Tomorrow is the share registration day. Today is the additional issuance day.

Michael Saylor: Today is STRC's Additional Issuance Day, Tomorrow is the Share Registration Day

On May 14, T3 Financial Crime Unit (T3 FCU), jointly established by Tether, TRON DAO, and TRM Labs, announced that it has frozen over $450 million in involved cryptocurrency assets globally as of May 2026. The announcement indicated that the scale of illegal funds intercepted by T3 FCU in 2025 increased by 43.9% year-on-year, with cases including controlled substance trafficking, exchange hacks, North Korea-related activities, terrorist financing, and kidnapping extortion. The organization is currently collaborating with regulatory and law enforcement agencies in 23 jurisdictions, including the United States, Spain, Germany, Brazil, and the United Kingdom. T3 FCU stated that it assisted in freezing over 3 billion Brazilian reais in cryptocurrency assets during the 'Operation Lusocoin' in Brazil, which included 4.3 million USDT.

[T3, Supported by Tron, Tether, and TRM Labs, Freezes Over $450 Million in Assets]On May 14, T3 Financial Crime Unit (T3 FCU), jointly established by Tether, TRON DAO, and TRM Labs, announced that it has frozen over $450 million in involved cryptocurrency assets globally as of May 2026. The announcement indicated that the scale of illegal funds intercepted by T3 FCU in 2025 increased by 43.9% year-on-year, with cases including controlled substance trafficking, exchange hacks, North Korea-related activities, terrorist financing, and kidnapping extortion. The organization is currently collaborating with regulatory and law enforcement agencies in 23 jurisdictions, including the United States, Spain, Germany, Brazil, and the United Kingdom. T3 FCU stated that it assisted in freezing over 3 billion Brazilian reais in cryptocurrency assets during the 'Operation Lusocoin' in Brazil, which included 4.3 million USDT.

T3, Supported by Tron, Tether, and TRM Labs, Freezes Over $450 Million in Assets

On May 14, U.S. retail sales for April rose by 0.5%, matching expectations of 0.5% and down from a previous value of 1.70%. This marks the lowest level since January and aligns with market forecasts. (Jin Shi)

[U.S. Retail Sales in April Increase by 0.5%, as Expected]On May 14, U.S. retail sales for April rose by 0.5%, matching expectations of 0.5% and down from a previous value of 1.70%. This marks the lowest level since January and aligns with market forecasts. (Jin Shi)

U.S. Retail Sales in April Increase by 0.5%, as Expected

On May 14, on-chain detective ZachXBT published a lengthy article exposing the LAB project and its founder (@vsadkovv). The LAB token surged to a $6 billion fully diluted valuation (FDV), but the situation behind it is highly opaque. The team was founded by Vova Sadkov and Mark, who previously left many investors dissatisfied with their Eesee project. Currently, the circulation data for LAB is chaotic, with the official team failing to provide clear token distribution details. The investors and trading platforms are highly overlapping, and most critically, insiders are likely controlling over 95% of the tokens, leaving retail investors completely unaware of the true circulation situation. Additionally, the LAB team unilaterally extended the public sale lock-up period from 3 months to 9 months while also defaulting on marketing fees, providing special treatment to KOLs and whales and requiring them to promote the project. The founder has mixed project funds with personal accounts, with large amounts of money directly entering trading platform deposit addresses. Insiders can sell off tokens without retail investors being aware. On-chain data shows that insiders recently withdrew over 100 million LAB tokens from trading platforms, valued at hundreds of millions of dollars, employing tactics similar to those used in previously manipulated projects.

[ZachXBT Accuses LAB Project of Market Manipulation Harming Retail Investors, Over 95% of Tokens Controlled]On May 14, on-chain detective ZachXBT published a lengthy article exposing the LAB project and its founder (@vsadkovv). The LAB token surged to a $6 billion fully diluted valuation (FDV), but the situation behind it is highly opaque. The team was founded by Vova Sadkov and Mark, who previously left many investors dissatisfied with their Eesee project. Currently, the circulation data for LAB is chaotic, with the official team failing to provide clear token distribution details. The investors and trading platforms are highly overlapping, and most critically, insiders are likely controlling over 95% of the tokens, leaving retail investors completely unaware of the true circulation situation. Additionally, the LAB team unilaterally extended the public sale lock-up period from 3 months to 9 months while also defaulting on marketing fees, providing special treatment to KOLs and whales and requiring them to promote the project. The founder has mixed project funds with personal accounts, with large amounts of money directly entering trading platform deposit addresses. Insiders can sell off tokens without retail investors being aware. On-chain data shows that insiders recently withdrew over 100 million LAB tokens from trading platforms, valued at hundreds of millions of dollars, employing tactics similar to those used in previously manipulated projects.

ZachXBT Accuses LAB Project of Market Manipulation Harming Retail Investors, Over 95% of Tokens Controlled

On May 14, it was reported that for the week ending May 9, the number of initial jobless claims in the United States reached 211,000, marking the highest level since the week of April 18, and exceeding market expectations of 205,000.

[U.S. Initial Jobless Claims Exceed Expectations]On May 14, it was reported that for the week ending May 9, the number of initial jobless claims in the United States reached 211,000, marking the highest level since the week of April 18, and exceeding market expectations of 205,000.

U.S. Initial Jobless Claims Exceed Expectations

According to Beating Monitoring, Adaption has launched AutoScientist, a fully automated model training and alignment system. This system can autonomously run through a complete model research cycle, simultaneously optimizing data and training recipes, allowing non-technical personnel to independently fine-tune custom models. Test data shows that AutoScientist averages a 35% performance improvement over the manual configurations of Adaption's internal researchers in fine-tuning performance. In benchmark tests across eight verticals using the Together AI architecture with datasets ranging from 5,000 to 100,000 entries, the system increased the fine-tuning success rate from 48% with manual configurations to 64%. Most fine-tuning based on private data often fails due to catastrophic forgetting and overfitting, but this system provides predictable performance gains. Officials state that this not only lowers the barrier to building proprietary AI but also frees machine learning engineers from the tedious process of manually monitoring parameter searches. The system is currently available for a 30-day free trial, and the team claims that they will also introduce real-time adaptation technology that requires no training in the future.

[Adaption Launches Fully Automated Fine-Tuning System AutoScientist, Outperforming Human Experts by 35%]According to Beating Monitoring, Adaption has launched AutoScientist, a fully automated model training and alignment system. This system can autonomously run through a complete model research cycle, simultaneously optimizing data and training recipes, allowing non-technical personnel to independently fine-tune custom models. Test data shows that AutoScientist averages a 35% performance improvement over the manual configurations of Adaption's internal researchers in fine-tuning performance. In benchmark tests across eight verticals using the Together AI architecture with datasets ranging from 5,000 to 100,000 entries, the system increased the fine-tuning success rate from 48% with manual configurations to 64%. Most fine-tuning based on private data often fails due to catastrophic forgetting and overfitting, but this system provides predictable performance gains. Officials state that this not only lowers the barrier to building proprietary AI but also frees machine learning engineers from the tedious process of manually monitoring parameter searches. The system is currently available for a 30-day free trial, and the team claims that they will also introduce real-time adaptation technology that requires no training in the future.

Adaption Launches Fully Automated Fine-Tuning System AutoScientist, Outperforming Human Experts by 35%

On May 14, Strive, a Nasdaq-listed Bitcoin treasury company, announced that its perpetual preferred stock SATA Stock will begin distributing cash dividends on a 'daily dividend' basis starting June 16, 2026, maintaining an annual dividend yield of 13.00%. SATA will become the first publicly traded security in the U.S. capital markets to pay dividends daily on business days. Strive also released its Q1 financial report, revealing that it accumulated a total of 6,001 BTC in the first quarter, of which 5,048 BTC were acquired through the acquisition of Semler Scientific, and 953 BTC were purchased from the open market. Additionally, from April 1 to May 12, the company increased its holdings by another 1,381 BTC, bringing its total Bitcoin reserves to 15,009 BTC.

[Strive Announces Daily Dividend Mechanism for SATA Starting June 16 and Releases Q1 Financial Report]On May 14, Strive, a Nasdaq-listed Bitcoin treasury company, announced that its perpetual preferred stock SATA Stock will begin distributing cash dividends on a 'daily dividend' basis starting June 16, 2026, maintaining an annual dividend yield of 13.00%. SATA will become the first publicly traded security in the U.S. capital markets to pay dividends daily on business days. Strive also released its Q1 financial report, revealing that it accumulated a total of 6,001 BTC in the first quarter, of which 5,048 BTC were acquired through the acquisition of Semler Scientific, and 953 BTC were purchased from the open market. Additionally, from April 1 to May 12, the company increased its holdings by another 1,381 BTC, bringing its total Bitcoin reserves to 15,009 BTC.

Strive Announces Daily Dividend Mechanism for SATA Starting June 16 and Releases Q1 Financial Report

On May 14, AI chip manufacturer Cerebras, known as the 'Nvidia Challenger', will go public on the US stock market under the ticker symbol CBRS. The IPO is priced at $185 per share, with a total of 30 million shares sold, raising approximately $5.55 billion, making it one of the largest IPOs in the AI infrastructure sector this year. In January, OpenAI signed a collaboration agreement with Cerebras worth over $10 billion, with OpenAI holding warrants to purchase over 33 million shares. Currently, on the Hyperliquid chain's Perp DEX Trade.xyz, Cerebras' Pre-IPO price is reported at $288 per share, having once surpassed $320, representing a premium of over 70% compared to the IPO price. The 24-hour trading volume is nearly $20 million, with the open interest value skyrocketing to $28.3 million. Notably, the funding rate for Cerebras' on-chain Pre-IPO contracts has shifted from negative to positive, indicating that investors are increasing their long positions in anticipation of a strong opening tonight. Additionally, Cerebras' chips feature a design that occupies the entire surface of a silicon wafer, whereas traditional processes typically etch dozens of chips on the same wafer. Cerebras' single wafer-level design integrates 40 trillion transistors and approximately 900,000 AI-optimized cores, with on-chip memory reaching up to 44 GB and memory bandwidth of 21 PB/s, far exceeding GPUs by thousands of times, effectively eliminating communication bottlenecks between traditional chips, making it particularly suitable for large-scale AI training and inference, capable of efficiently processing trillion-parameter models.

[Cerebras, Nvidia Challenger, Set for High Opening on US IPO Tonight Amidst 70% Premium]On May 14, AI chip manufacturer Cerebras, known as the 'Nvidia Challenger', will go public on the US stock market under the ticker symbol CBRS. The IPO is priced at $185 per share, with a total of 30 million shares sold, raising approximately $5.55 billion, making it one of the largest IPOs in the AI infrastructure sector this year. In January, OpenAI signed a collaboration agreement with Cerebras worth over $10 billion, with OpenAI holding warrants to purchase over 33 million shares. Currently, on the Hyperliquid chain's Perp DEX Trade.xyz, Cerebras' Pre-IPO price is reported at $288 per share, having once surpassed $320, representing a premium of over 70% compared to the IPO price. The 24-hour trading volume is nearly $20 million, with the open interest value skyrocketing to $28.3 million. Notably, the funding rate for Cerebras' on-chain Pre-IPO contracts has shifted from negative to positive, indicating that investors are increasing their long positions in anticipation of a strong opening tonight. Additionally, Cerebras' chips feature a design that occupies the entire surface of a silicon wafer, whereas traditional processes typically etch dozens of chips on the same wafer. Cerebras' single wafer-level design integrates 40 trillion transistors and approximately 900,000 AI-optimized cores, with on-chip memory reaching up to 44 GB and memory bandwidth of 21 PB/s, far exceeding GPUs by thousands of times, effectively eliminating communication bottlenecks between traditional chips, making it particularly suitable for large-scale AI training and inference, capable of efficiently processing trillion-parameter models.

Cerebras, Nvidia Challenger, Set for High Opening on US IPO Tonight Amidst 70% Premium

1. SEC may let crypto firms report assets managed for clients;
2. CleanSpark inks deal to expand Texas mining capacity by up to 500 megawatts;
3. BNY Mellon to custody assets backing Circle's USDC stablecoin;
4. Japan cryptocurrency business association revises NFT business guidelines to strengthen user protection;
5. Cardano added over $230 million in DeFi inflows in March;
6. EU Parliament passes privacy-busting crypto rules despite industry criticism;
7.  'No plan to issue CBDC' — Bank of Japan governor.

Detail

【Huobi Breaking News】1. SEC may let crypto firms report assets managed for clients;
2. CleanSpark inks deal to expand Texas mining capacity by up to 500 megawatts;
3. BNY Mellon to custody assets backing Circle's USDC stablecoin;
4. Japan cryptocurrency business association revises NFT business guidelines to strengthen user protection;
5. Cardano added over $230 million in DeFi inflows in March;
6. EU Parliament passes privacy-busting crypto rules despite industry criticism;
7.  'No plan to issue CBDC' — Bank of Japan governor.

Huobi Breaking News

Article

BTC falls below 79000 USDT

Arm and SoftBank Proposed Acquisition of Cerebras Before IPO but Were Rejected

TRX breaks through 0.35 USDT

FIO's 24-hour volatility exceeds 50%!

OSMO fluctuated over 50% in 24 hours!

OpenAI Offers Two Months of Free Codex to Companies Switching from Claude

Huobi Breaking News

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

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