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On May 28, 10x Research stated that as demand for AI infrastructure rapidly grows, Bitcoin mining companies are accelerating their transformation into AI infrastructure firms. Their cryptocurrency stock basket index has risen by 56% this year, while BTC has decreased by 17% during the same period. This week, BTC faced pressure due to soaring U.S. Treasury yields and increasing market expectations of a hawkish Federal Reserve, leading to continued withdrawals of institutional funds from non-yielding assets, with noticeable outflows from BlackRock's Bitcoin ETF. Meanwhile, mining companies and AI infrastructure-related stocks saw significant gains. KEEL surged by 30% this week, CIFR and IREN both rose by 29%, WULF increased by 24%, and HUT climbed by 22%. 10x Research pointed out that several key events this week indicate an accelerating shift of mining companies towards AI, including IREN's procurement of $1.6 billion worth of Dell Blackwell systems; TeraWulf's acquisition of a 1GW Kentucky facility; and Hut 8's signing of a $9.8 billion leasing agreement in Texas. On the macro front, as market expectations for a ceasefire in Iran heat up, demand for gold as a safe haven has cooled, and the yield on the U.S. 10-year Treasury bond has retreated to the 4.47%-4.50% range, with the market awaiting PCE data and the first FOMC meeting of newly appointed Federal Reserve Chair Waller.

[10x Research: Bitcoin Miners Accelerate Shift to AI Infrastructure, Related Stocks Outperform BTC This Year]On May 28, 10x Research stated that as demand for AI infrastructure rapidly grows, Bitcoin mining companies are accelerating their transformation into AI infrastructure firms. Their cryptocurrency stock basket index has risen by 56% this year, while BTC has decreased by 17% during the same period. This week, BTC faced pressure due to soaring U.S. Treasury yields and increasing market expectations of a hawkish Federal Reserve, leading to continued withdrawals of institutional funds from non-yielding assets, with noticeable outflows from BlackRock's Bitcoin ETF. Meanwhile, mining companies and AI infrastructure-related stocks saw significant gains. KEEL surged by 30% this week, CIFR and IREN both rose by 29%, WULF increased by 24%, and HUT climbed by 22%. 10x Research pointed out that several key events this week indicate an accelerating shift of mining companies towards AI, including IREN's procurement of $1.6 billion worth of Dell Blackwell systems; TeraWulf's acquisition of a 1GW Kentucky facility; and Hut 8's signing of a $9.8 billion leasing agreement in Texas. On the macro front, as market expectations for a ceasefire in Iran heat up, demand for gold as a safe haven has cooled, and the yield on the U.S. 10-year Treasury bond has retreated to the 4.47%-4.50% range, with the market awaiting PCE data and the first FOMC meeting of newly appointed Federal Reserve Chair Waller.

10x Research: Bitcoin Miners Accelerate Shift to AI Infrastructure, Related Stocks Outperform BTC This Year

On May 28, Futu Holdings reported that its Q1 revenue for 2026 was HKD 5.856 billion, an increase of 24.7% year-on-year; gross profit was HKD 5.106 billion, up 29.4% year-on-year; net profit was HKD 831 million, a decrease of 61.2% year-on-year; and NON-GAAP adjusted net profit fell 58.5% year-on-year to HKD 919.5 million. Futu Holdings stated that it anticipates regulatory fines totaling approximately HKD 1.85 billion, which have already been accounted for in the Q1 financial report.

[Futu Holdings: Q1 Revenue Up 24.7% Year-on-Year, Adjusted Net Profit Down 58.5%]On May 28, Futu Holdings reported that its Q1 revenue for 2026 was HKD 5.856 billion, an increase of 24.7% year-on-year; gross profit was HKD 5.106 billion, up 29.4% year-on-year; net profit was HKD 831 million, a decrease of 61.2% year-on-year; and NON-GAAP adjusted net profit fell 58.5% year-on-year to HKD 919.5 million. Futu Holdings stated that it anticipates regulatory fines totaling approximately HKD 1.85 billion, which have already been accounted for in the Q1 financial report.

Futu Holdings: Q1 Revenue Up 24.7% Year-on-Year, Adjusted Net Profit Down 58.5%

On May 28, Polymarket announced that its market integrity infrastructure has once again identified a trader suspected of insider trading, who was arrested this morning in New York. Polymarket stated that the two insider trading cases leading to arrests in the industry originated from criminal leads submitted to law enforcement agencies by the platform. It stated, "Blockchain transactions are transparent and traceable; wrongdoers always leave a trace."

[Polymarket: Two Insider Trading Cases Reported by Platform, Criminal Leads Submitted]On May 28, Polymarket announced that its market integrity infrastructure has once again identified a trader suspected of insider trading, who was arrested this morning in New York. Polymarket stated that the two insider trading cases leading to arrests in the industry originated from criminal leads submitted to law enforcement agencies by the platform. It stated, "Blockchain transactions are transparent and traceable; wrongdoers always leave a trace."

Polymarket: Two Insider Trading Cases Reported by Platform, Criminal Leads Submitted

On May 28, Polymarket announced that its market integrity infrastructure has once again identified a trader suspected of insider trading, who was arrested this morning in New York. Polymarket stated that the two insider trading cases currently in the industry, which have resulted in arrests, both originated from criminal leads submitted to law enforcement agencies by the platform. It emphasized that blockchain transactions are transparent and traceable, and violators will always leave a trace.

[Polymarket: Two Insider Trading Cases Reported by Platform, Criminal Leads Submitted]On May 28, Polymarket announced that its market integrity infrastructure has once again identified a trader suspected of insider trading, who was arrested this morning in New York. Polymarket stated that the two insider trading cases currently in the industry, which have resulted in arrests, both originated from criminal leads submitted to law enforcement agencies by the platform. It emphasized that blockchain transactions are transparent and traceable, and violators will always leave a trace.

On May 28, according to financial website Investinglive, gold prices fell to a two-month low this week due to a lack of substantial progress between the U.S. and Iran, coupled with hawkish risks from the Federal Reserve. Despite market expectations for an imminent agreement and the reopening of the Strait of Hormuz, no definitive news has been released by officials. Currently, there is only a lot of noise and rumors. Additionally, in recent days, both the U.S. and Iran have engaged in limited military strikes against each other, but the U.S. continues to assert that the ceasefire agreement remains in effect. On the Federal Reserve front, an increasing number of policymakers are now advocating for the abandonment of accommodative policies, so we can expect this situation to unfold at the June FOMC meeting. Furthermore, if there are no changes in the U.S.-Iran situation before then, with inflation remaining high and U.S. data showing resilience, the market may face a hawkish surprise. In the short term, if the situation is resolved and the Strait reopens, falling oil prices and rising expectations for interest rate cuts could support gold prices. However, if the Strait remains closed for an extended period and oil prices stay elevated, the risk of the Federal Reserve being forced to raise interest rates will increase. (Jin Shi)

[Gold Prices Drop to Two-Month Low Amid U.S.-Iran Stalemate and Fed Hawkish Risks]On May 28, according to financial website Investinglive, gold prices fell to a two-month low this week due to a lack of substantial progress between the U.S. and Iran, coupled with hawkish risks from the Federal Reserve. Despite market expectations for an imminent agreement and the reopening of the Strait of Hormuz, no definitive news has been released by officials. Currently, there is only a lot of noise and rumors. Additionally, in recent days, both the U.S. and Iran have engaged in limited military strikes against each other, but the U.S. continues to assert that the ceasefire agreement remains in effect. On the Federal Reserve front, an increasing number of policymakers are now advocating for the abandonment of accommodative policies, so we can expect this situation to unfold at the June FOMC meeting. Furthermore, if there are no changes in the U.S.-Iran situation before then, with inflation remaining high and U.S. data showing resilience, the market may face a hawkish surprise. In the short term, if the situation is resolved and the Strait reopens, falling oil prices and rising expectations for interest rate cuts could support gold prices. However, if the Strait remains closed for an extended period and oil prices stay elevated, the risk of the Federal Reserve being forced to raise interest rates will increase. (Jin Shi)

Gold Prices Drop to Two-Month Low Amid U.S.-Iran Stalemate and Fed Hawkish Risks

According to monitoring by Beating, Elon Musk revealed that SpaceX's internal team is nearing the completion of the V1.0 version of its self-developed large-scale AI training framework in C language. The new training stack can accurately adapt to a massive computing cluster composed of 220,000 NVIDIA GB300 accelerator cards and 800G network cards, focusing on hardware mapping and parallel mechanisms. To maximize underlying computing power, the framework is designed to be extremely close to bare metal and extensively employs pipeline parallelism technology. Musk disclosed that when handling large-scale training tasks, the purely C language-based underlying architecture could potentially achieve over an order of magnitude increase in running speed (i.e., more than 10 times) compared to Google's mainstream high-level AI framework JAX. The new self-developed training stack will run on SpaceX's Colossus supercomputing cluster, directly serving the full training and iteration of the next-generation large model Grok v5.

[SpaceX's Self-Developed C Language AI Training Framework Nears Completion for Grok v5 Training]According to monitoring by Beating, Elon Musk revealed that SpaceX's internal team is nearing the completion of the V1.0 version of its self-developed large-scale AI training framework in C language. The new training stack can accurately adapt to a massive computing cluster composed of 220,000 NVIDIA GB300 accelerator cards and 800G network cards, focusing on hardware mapping and parallel mechanisms. To maximize underlying computing power, the framework is designed to be extremely close to bare metal and extensively employs pipeline parallelism technology. Musk disclosed that when handling large-scale training tasks, the purely C language-based underlying architecture could potentially achieve over an order of magnitude increase in running speed (i.e., more than 10 times) compared to Google's mainstream high-level AI framework JAX. The new self-developed training stack will run on SpaceX's Colossus supercomputing cluster, directly serving the full training and iteration of the next-generation large model Grok v5.

SpaceX's Self-Developed C Language AI Training Framework Nears Completion for Grok v5 Training

On May 28, ETH fell below $2000 for the first time since March this year. Over the past week, ETH has dropped nearly 8%, with more than a 5% decline in the last 24 hours. Meanwhile, the open interest (OI) in ETH futures has risen for the third consecutive day, reaching a historic high of 16.39 million ETH, with a nominal value of approximately $32.5 billion. Analysts suggest that the continuous rise in OI amidst falling spot prices indicates a more aggressive leveraged shorting behavior in the market. Markus Thielen, founder of 10x Research, stated that more investors are beginning to abandon ETH, noting that 'ETH does not generate cash flow, and in the context of rising U.S. Treasury yields, the attractiveness of staking yields is declining.' Additionally, U.S. spot ETH ETFs have seen a cumulative net outflow of $401 million this month, completely reversing the $354 million net inflow in April. Market sentiment has also worsened due to the departure of key members from the Ethereum Foundation. David Hoffman, co-founder of Bankless, previously stated that he has sold his ETH holdings, believing that the narrative of 'ETH as money' has been fully priced in. The Web3 research institution House of Chimera noted that the market is questioning Ethereum's advantages in the DeFi, RWA, and tokenization sectors, and whether these can truly translate into value for the ETH token itself.

[Ethereum Falls Below $2000 as Futures Positions Reach All-Time High, Indicating Rising Bearish Sentiment]On May 28, ETH fell below $2000 for the first time since March this year. Over the past week, ETH has dropped nearly 8%, with more than a 5% decline in the last 24 hours. Meanwhile, the open interest (OI) in ETH futures has risen for the third consecutive day, reaching a historic high of 16.39 million ETH, with a nominal value of approximately $32.5 billion. Analysts suggest that the continuous rise in OI amidst falling spot prices indicates a more aggressive leveraged shorting behavior in the market. Markus Thielen, founder of 10x Research, stated that more investors are beginning to abandon ETH, noting that 'ETH does not generate cash flow, and in the context of rising U.S. Treasury yields, the attractiveness of staking yields is declining.' Additionally, U.S. spot ETH ETFs have seen a cumulative net outflow of $401 million this month, completely reversing the $354 million net inflow in April. Market sentiment has also worsened due to the departure of key members from the Ethereum Foundation. David Hoffman, co-founder of Bankless, previously stated that he has sold his ETH holdings, believing that the narrative of 'ETH as money' has been fully priced in. The Web3 research institution House of Chimera noted that the market is questioning Ethereum's advantages in the DeFi, RWA, and tokenization sectors, and whether these can truly translate into value for the ETH token itself.

Ethereum Falls Below $2000 as Futures Positions Reach All-Time High, Indicating Rising Bearish Sentiment

bill Surges 10.22% in 24H, Currently at 0.087593 USDT

【bill currently trades at 0.087593 USDT, up 10.22% in 24h, according to HTX market data.】bill Surges 10.22% in 24H, Currently at 0.087593 USDT

bill currently trades at 0.087593 USDT, up 10.22% in 24h, according to HTX market data.

On May 28, the cryptocurrency market continues to face pressure. According to market statistics, the U.S. spot Bitcoin ETF has seen a cumulative net outflow of over $2.2 billion in the past two weeks, with significant redemption pressure from BlackRock's IBIT. BiyaPay market data shows that BTC is currently priced at $73,235, a notable decline from the highs earlier in the month. The market believes that rising U.S. Treasury yields and a cooling of interest rate cut expectations are prompting institutions to reduce their allocation to risk assets, leading to capital flowing out of zero-yield assets like Bitcoin. The $73,000 to $74,000 range is currently viewed as a critical support zone; if it effectively breaks down, it may further test the $70,000 level. BiyaPay analysts suggest that in the context of ongoing ETF fund outflows, Bitcoin remains weak in the short term, and investors should exercise caution. They recommend diversifying allocations to reduce volatility risk and utilizing the BiyaPay platform to conveniently invest in multiple markets, including U.S. stocks, Hong Kong stocks, and futures, to enhance risk control efficiency.

[BiyaPay Analyst: Bitcoin ETF Sees Over $2.2 Billion Outflow in Two Weeks, BTC Tests $73,000 Level]On May 28, the cryptocurrency market continues to face pressure. According to market statistics, the U.S. spot Bitcoin ETF has seen a cumulative net outflow of over $2.2 billion in the past two weeks, with significant redemption pressure from BlackRock's IBIT. BiyaPay market data shows that BTC is currently priced at $73,235, a notable decline from the highs earlier in the month. The market believes that rising U.S. Treasury yields and a cooling of interest rate cut expectations are prompting institutions to reduce their allocation to risk assets, leading to capital flowing out of zero-yield assets like Bitcoin. The $73,000 to $74,000 range is currently viewed as a critical support zone; if it effectively breaks down, it may further test the $70,000 level. BiyaPay analysts suggest that in the context of ongoing ETF fund outflows, Bitcoin remains weak in the short term, and investors should exercise caution. They recommend diversifying allocations to reduce volatility risk and utilizing the BiyaPay platform to conveniently invest in multiple markets, including U.S. stocks, Hong Kong stocks, and futures, to enhance risk control efficiency.

BiyaPay Analyst: Bitcoin ETF Sees Over $2.2 Billion Outflow in Two Weeks, BTC Tests $73,000 Level

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