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On May 26, data from Arkham revealed that 21Shares and Bitwise ETF collectively purchased $68 million worth of HYPE last week.

[21Shares and Bitwise ETF Purchased $68 Million in HYPE Last Week]On May 26, data from Arkham revealed that 21Shares and Bitwise ETF collectively purchased $68 million worth of HYPE last week.

21Shares and Bitwise ETF Purchased $68 Million in HYPE Last Week

On May 26, according to AXIOS: An assistant to Secretary of State Rubio has been promoted to a senior national security position at the White House.

[Assistant to Secretary of State Rubio Promoted to Senior National Security Position at the White House]On May 26, according to AXIOS: An assistant to Secretary of State Rubio has been promoted to a senior national security position at the White House.

Assistant to Secretary of State Rubio Promoted to Senior National Security Position at the White House

On May 26, Bitwise announced that its subsidiary Bitwise Europe GmbH has launched the Bitwise Canton ETP (BWCC), which is listed on Deutsche Börse's electronic spot trading platform, Deutsche Börse Xetra. This product allows trading through regular brokerage accounts and aims to provide exposure to the native token CC of the Canton Network.

[Bitwise Launches Canton Exchange Trading Product 'BWCC']On May 26, Bitwise announced that its subsidiary Bitwise Europe GmbH has launched the Bitwise Canton ETP (BWCC), which is listed on Deutsche Börse's electronic spot trading platform, Deutsche Börse Xetra. This product allows trading through regular brokerage accounts and aims to provide exposure to the native token CC of the Canton Network.

Bitwise Launches Canton Exchange Trading Product 'BWCC'

According to monitoring by Dongcha Beating, sources reveal that ByteDance is offering low-priced stock options linked to its Seed AI department for employees. This marks the first time ByteDance has issued equity incentives for a specific business unit. The incentive mechanism allows employees to share in the growth benefits of the Seed department without being diluted by the performance of other business lines within ByteDance. Sources indicate that ByteDance has opened the subscription rights for 'Doubao Stock' to Seed employees worldwide this month, priced at $13 per share. Since being granted at approximately $10 per share at the end of last year, the value of Doubao Stock has increased by nearly 30%.

[ByteDance Issues Equity Incentives for Specific Business Unit for the First Time]According to monitoring by Dongcha Beating, sources reveal that ByteDance is offering low-priced stock options linked to its Seed AI department for employees. This marks the first time ByteDance has issued equity incentives for a specific business unit. The incentive mechanism allows employees to share in the growth benefits of the Seed department without being diluted by the performance of other business lines within ByteDance. Sources indicate that ByteDance has opened the subscription rights for 'Doubao Stock' to Seed employees worldwide this month, priced at $13 per share. Since being granted at approximately $10 per share at the end of last year, the value of Doubao Stock has increased by nearly 30%.

ByteDance Issues Equity Incentives for Specific Business Unit for the First Time

On May 26, Strive ($SATA), a Nasdaq-listed Bitcoin treasury company, reached a 3-month high, soaring to $100.53.

[Strive Stock Price Surpasses $100, Reaches 3-Month High]On May 26, Strive ($SATA), a Nasdaq-listed Bitcoin treasury company, reached a 3-month high, soaring to $100.53.

Strive Stock Price Surpasses $100, Reaches 3-Month High

On May 26, the Islamic Republic of Iran Broadcasting reported that some foreign media claimed Iran and the United States had reached a 14-point understanding memorandum, which is "completely fabricated and baseless." The report stated that some media outlets had claimed hours earlier to have obtained the final draft of the Iran-U.S. understanding memorandum, which allegedly included issues such as opening the Strait of Hormuz, initiating nuclear negotiations, and unfreezing Iran's frozen assets. However, these claims are not true.

[Iranian State Media Denies Understanding Memorandum with the U.S.]On May 26, the Islamic Republic of Iran Broadcasting reported that some foreign media claimed Iran and the United States had reached a 14-point understanding memorandum, which is "completely fabricated and baseless." The report stated that some media outlets had claimed hours earlier to have obtained the final draft of the Iran-U.S. understanding memorandum, which allegedly included issues such as opening the Strait of Hormuz, initiating nuclear negotiations, and unfreezing Iran's frozen assets. However, these claims are not true.

Iranian State Media Denies Understanding Memorandum with the U.S.

According to Beating Monitoring, Mianbi Intelligence and Tsinghua NLP Laboratory have jointly open-sourced the world's first production-level pre-training framework, ForgeTrain, entirely written by AI, within the OpenBMB community. They also released MiniCPM5-1B, a small model trained using ForgeTrain. As the first example demonstrating a closed-loop 'AI manufacturing AI' project, ForgeTrain outperforms NVIDIA's Megatron under the same hardware conditions and achieves a 10% acceleration when pre-trained on Huawei's Ascend. Additionally, MiniCPM5-1B topped the Artificial Analysis leaderboard for open-weight small models. To enable AI to autonomously build foundational pre-training infrastructure, Mianbi Intelligence proposed the 'Forge Engineering' software programming paradigm, moving away from a universal framework compatible with all hardware and tasks, and instead leveraging AI's low-cost code generation capabilities to forge dedicated code for specific models and hardware on-site. In terms of construction mechanism, ForgeTrain employs a three-stage approach: first, it collects key data from existing pre-training frameworks to form a testing harness; next, it iteratively generates binary-consistent framework code in an automated closed loop; and finally, it lifts restrictions to surpass the reference implementation. This entire automated evolution corresponds to the L3 to L4 stages of AI manufacturing AI. As the first output model of ForgeTrain, MiniCPM5-1B features 1.08 billion parameters, with a core architecture based on the standard LlamaForCausalLM design, significantly lowering the barriers for downstream integration and inference deployment. In the Artificial Analysis evaluation, the model scored 18, surpassing the 2B scale Qwen3.5-2B (16 points), and leading over Qwen3.5-0.8B (11 points) and LFM2.5-1.2B-Thinking (8 points). The model supports deployment formats such as MLX 4-bit and GGUF Q4_K_M, with INT4 quantized weights of only 0.5GB, and natively supports long text contexts of 131,072 tokens along with mixed dual-mode inference based on enable_thinking. Leveraging extremely low hardware overhead, OpenBMB has also open-sourced a purely offline desktop companion application, MiniCPM Desk Pet, which supports real-time responses to coding activities in development tools like Cursor and LoRA character switching.

[World's First AI-Written Pre-Training Framework Open-Sourced: ForgeTrain by Tsinghua and Mianbi]According to Beating Monitoring, Mianbi Intelligence and Tsinghua NLP Laboratory have jointly open-sourced the world's first production-level pre-training framework, ForgeTrain, entirely written by AI, within the OpenBMB community. They also released MiniCPM5-1B, a small model trained using ForgeTrain. As the first example demonstrating a closed-loop 'AI manufacturing AI' project, ForgeTrain outperforms NVIDIA's Megatron under the same hardware conditions and achieves a 10% acceleration when pre-trained on Huawei's Ascend. Additionally, MiniCPM5-1B topped the Artificial Analysis leaderboard for open-weight small models. To enable AI to autonomously build foundational pre-training infrastructure, Mianbi Intelligence proposed the 'Forge Engineering' software programming paradigm, moving away from a universal framework compatible with all hardware and tasks, and instead leveraging AI's low-cost code generation capabilities to forge dedicated code for specific models and hardware on-site. In terms of construction mechanism, ForgeTrain employs a three-stage approach: first, it collects key data from existing pre-training frameworks to form a testing harness; next, it iteratively generates binary-consistent framework code in an automated closed loop; and finally, it lifts restrictions to surpass the reference implementation. This entire automated evolution corresponds to the L3 to L4 stages of AI manufacturing AI. As the first output model of ForgeTrain, MiniCPM5-1B features 1.08 billion parameters, with a core architecture based on the standard LlamaForCausalLM design, significantly lowering the barriers for downstream integration and inference deployment. In the Artificial Analysis evaluation, the model scored 18, surpassing the 2B scale Qwen3.5-2B (16 points), and leading over Qwen3.5-0.8B (11 points) and LFM2.5-1.2B-Thinking (8 points). The model supports deployment formats such as MLX 4-bit and GGUF Q4_K_M, with INT4 quantized weights of only 0.5GB, and natively supports long text contexts of 131,072 tokens along with mixed dual-mode inference based on enable_thinking. Leveraging extremely low hardware overhead, OpenBMB has also open-sourced a purely offline desktop companion application, MiniCPM Desk Pet, which supports real-time responses to coding activities in development tools like Cursor and LoRA character switching.

World's First AI-Written Pre-Training Framework Open-Sourced: ForgeTrain by Tsinghua and Mianbi

On May 26, Bitcoin's expected volatility significantly dropped to a nine-month low. The Bitcoin VIX index, which reflects the 30-day expected volatility based on options pricing, fell to 36.11, the lowest since September of last year, and is approaching the lowest point of 2023. Diminished trading activity, coupled with speculative funds shifting from Bitcoin to other assets, has led to a reduced demand for options protection. Bitcoin's price has also retreated to levels near those seen since September of last year, resulting in an overall 'breather' in the crypto market. Market sentiment remains relatively calm, and volatility is expected to stay low in the short term.

[Bitcoin Volatility Nears 2023 Low as Crypto Market Enters 'Calm Breather']On May 26, Bitcoin's expected volatility significantly dropped to a nine-month low. The Bitcoin VIX index, which reflects the 30-day expected volatility based on options pricing, fell to 36.11, the lowest since September of last year, and is approaching the lowest point of 2023. Diminished trading activity, coupled with speculative funds shifting from Bitcoin to other assets, has led to a reduced demand for options protection. Bitcoin's price has also retreated to levels near those seen since September of last year, resulting in an overall 'breather' in the crypto market. Market sentiment remains relatively calm, and volatility is expected to stay low in the short term.

Bitcoin Volatility Nears 2023 Low as Crypto Market Enters 'Calm Breather'

Glassnode tweeted that at the current price, approximately 7.75 million BTC are in a state of loss. This oversupply is a structural characteristic of a bear market and is typically resolved only when weak hands capitulate.

[Glassnode: Approximately 7.75 Million BTC Currently in Loss]Glassnode tweeted that at the current price, approximately 7.75 million BTC are in a state of loss. This oversupply is a structural characteristic of a bear market and is typically resolved only when weak hands capitulate.

Glassnode: Approximately 7.75 Million BTC Currently in Loss

FTX founder Sam Bankman-Fried apologized to his former colleagues and explained why the crypto exchange failed in a new letter. It started with the market's crash in Spring, followed by credit "drying up" and ending with customers withdrawing their funds en masse, Bankman-Fried said. Adding to those issues, FTX's poor margin management and risk controls ultimately led the company to file for bankruptcy protection, according to the letter. According to Bankman-Fried, FTX had around $60 billion in collateral and $2 billion in liabilities this spring, but a market crash meant the collateral's value was reduced to half. The drying up of credit in the industry meant FTX's collateral was worth around $25 billion, though liabilities jumped to $8 billion. Another crash in November "led to another roughly 50% reduction in the value of collateral over a very short period of time," at $17 billion at the time. Then a bank run, caused by what Bankman-Fried called "attacks" in November, reduced the collateral to $9 billion, he said. Despite the bankruptcy proceedings, Bankman-Fried still reckons there is a chance to save FTX.

Detail

【SBF: The value of collateral FTX uses for lending has fallen by $51 billion YTD】FTX founder Sam Bankman-Fried apologized to his former colleagues and explained why the crypto exchange failed in a new letter. It started with the market's crash in Spring, followed by credit "drying up" and ending with customers withdrawing their funds en masse, Bankman-Fried said. Adding to those issues, FTX's poor margin management and risk controls ultimately led the company to file for bankruptcy protection, according to the letter. According to Bankman-Fried, FTX had around $60 billion in collateral and $2 billion in liabilities this spring, but a market crash meant the collateral's value was reduced to half. The drying up of credit in the industry meant FTX's collateral was worth around $25 billion, though liabilities jumped to $8 billion. Another crash in November "led to another roughly 50% reduction in the value of collateral over a very short period of time," at $17 billion at the time. Then a bank run, caused by what Bankman-Fried called "attacks" in November, reduced the collateral to $9 billion, he said. Despite the bankruptcy proceedings, Bankman-Fried still reckons there is a chance to save FTX.

SBF: The value of collateral FTX uses for lending has fallen by $51 billion YTD

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BlackRock Analyst: Fed Likely to Support a Rate Cut Under Waller's Leadership

SBF: The value of collateral FTX uses for lending has fallen by $51 billion YTD

Clause de non-responsabilité：Le contenu ci-dessus ne représente pas les positions de HTX.，HTX ne fournit pas de recommandations de trading.。

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