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On May 26, Bank of Japan Deputy Governor Niimi Noriyuki stated that the market's view on the rise in long-term interest rates reflects global concerns about inflation. The Bank of Japan will adopt appropriate monetary policies to achieve its inflation target in a stable and sustainable manner. When reviewing the bond reduction plan, attention will be paid to the conditions of the bond market and its functionality, while also listening to the opinions of market participants.

[Bank of Japan Deputy Governor: Appropriate Monetary Policy to Achieve Inflation Target Sustainably]On May 26, Bank of Japan Deputy Governor Niimi Noriyuki stated that the market's view on the rise in long-term interest rates reflects global concerns about inflation. The Bank of Japan will adopt appropriate monetary policies to achieve its inflation target in a stable and sustainable manner. When reviewing the bond reduction plan, attention will be paid to the conditions of the bond market and its functionality, while also listening to the opinions of market participants.

Bank of Japan Deputy Governor: Appropriate Monetary Policy to Achieve Inflation Target Sustainably

On May 26, CITIC Securities published a research report stating that Huawei, guided by the principles of 'Tao Law', has fully leveraged domestic technological capabilities in areas such as 3D integration, advanced packaging, collaborative optimization of chip design and manufacturing, and optical communication. By optimizing and iterating system topologies, it compensates for the short-term gaps in process nodes, and the Chinese semiconductor industry is expected to usher in opportunities for accelerated development. 
Extending from the principles of 'Tao Law', significant changes in the semiconductor industry over the next five years may include the following aspects: 
1) Ultra-fine pitch hybrid bonding technology and TSV technology will become the underlying technological foundation for achieving 'logic folding' in the 3D direction, with a focus on semiconductor manufacturing companies related to layout; 
2) Multi-layer logic stacking will lead to a dramatic increase in wafer demand, with attention on domestic wafer fabs; 
3) Expansion of hybrid bonding and advanced packaging production lines will drive demand for bonding, plating, cleaning, CMP, etching, and thin-film deposition equipment; 
4) Near-package optical engines and 3D stacking based on micro-bump and standard pitch hybrid bonding processes, with a focus on domestic advanced packaging companies.

[CITIC Securities: Huawei Proposes 'Tao Law', Focus on New Directions in Semiconductor Process Development]On May 26, CITIC Securities published a research report stating that Huawei, guided by the principles of 'Tao Law', has fully leveraged domestic technological capabilities in areas such as 3D integration, advanced packaging, collaborative optimization of chip design and manufacturing, and optical communication. By optimizing and iterating system topologies, it compensates for the short-term gaps in process nodes, and the Chinese semiconductor industry is expected to usher in opportunities for accelerated development. 
Extending from the principles of 'Tao Law', significant changes in the semiconductor industry over the next five years may include the following aspects: 
1) Ultra-fine pitch hybrid bonding technology and TSV technology will become the underlying technological foundation for achieving 'logic folding' in the 3D direction, with a focus on semiconductor manufacturing companies related to layout; 
2) Multi-layer logic stacking will lead to a dramatic increase in wafer demand, with attention on domestic wafer fabs; 
3) Expansion of hybrid bonding and advanced packaging production lines will drive demand for bonding, plating, cleaning, CMP, etching, and thin-film deposition equipment; 
4) Near-package optical engines and 3D stacking based on micro-bump and standard pitch hybrid bonding processes, with a focus on domestic advanced packaging companies.

CITIC Securities: Huawei Proposes 'Tao Law', Focus on New Directions in Semiconductor Process Development

On May 26, the yield on the two-year Treasury note fell by 6 basis points to 4.0595%, while the yield on the ten-year Treasury note also dropped by 6 basis points to 4.5034%.

[U.S. Treasury Yields Decline Across the Board]On May 26, the yield on the two-year Treasury note fell by 6 basis points to 4.0595%, while the yield on the ten-year Treasury note also dropped by 6 basis points to 4.5034%.

U.S. Treasury Yields Decline Across the Board

On May 26, according to CCTV, both the US and Iran recently stated that negotiations have made progress, but it is uncertain whether a final agreement can be reached. Experts believe that neither side has made substantial concessions on key issues, leaving significant uncertainty regarding the outcome of the negotiations. Li Zixin, an assistant researcher at the China Institute of International Studies, noted that there has been no apparent retreat from the key positions of the US and Iran on nuclear issues. The US claims that Iran has agreed to abandon high-enriched uranium, but in reality, Iran had previously expressed willingness to accept the dilution of its high-enriched uranium within its territory. On the nuclear issue, especially concerning the later handling of nuclear materials, neither side has provided clarity on how or through what means to resolve the matter. This issue is left for future discussions, but how it will ultimately be resolved remains subject to further negotiations.

[Expert Analysis: US and Iran Make No Concessions on Key Issues, Negotiations Remain Uncertain]On May 26, according to CCTV, both the US and Iran recently stated that negotiations have made progress, but it is uncertain whether a final agreement can be reached. Experts believe that neither side has made substantial concessions on key issues, leaving significant uncertainty regarding the outcome of the negotiations. Li Zixin, an assistant researcher at the China Institute of International Studies, noted that there has been no apparent retreat from the key positions of the US and Iran on nuclear issues. The US claims that Iran has agreed to abandon high-enriched uranium, but in reality, Iran had previously expressed willingness to accept the dilution of its high-enriched uranium within its territory. On the nuclear issue, especially concerning the later handling of nuclear materials, neither side has provided clarity on how or through what means to resolve the matter. This issue is left for future discussions, but how it will ultimately be resolved remains subject to further negotiations.

Expert Analysis: US and Iran Make No Concessions on Key Issues, Negotiations Remain Uncertain

On May 26, the U.S. Central Command reported that U.S. and Israeli aircraft attacked several Iranian vessels in the Strait of Hormuz. This occurred just hours after Trump stated that negotiations with Tehran regarding a temporary agreement were making progress. The renewed fighting underscores the fragility of the ceasefire agreement between the U.S. and Iran. In early Asian trading on Tuesday, S&P 500 futures fell following the latest developments, while West Texas Intermediate crude prices saw a slight increase, and gold fluctuated after a minor decline. Trump is currently facing pressure from hardliners in the U.S., such as Republican Senator Graham, who believe that the emerging agreement concedes too much to Tehran.

[Renewed Tensions Between U.S. and Iran Highlight Fragility of Ceasefire Agreement]On May 26, the U.S. Central Command reported that U.S. and Israeli aircraft attacked several Iranian vessels in the Strait of Hormuz. This occurred just hours after Trump stated that negotiations with Tehran regarding a temporary agreement were making progress. The renewed fighting underscores the fragility of the ceasefire agreement between the U.S. and Iran. In early Asian trading on Tuesday, S&P 500 futures fell following the latest developments, while West Texas Intermediate crude prices saw a slight increase, and gold fluctuated after a minor decline. Trump is currently facing pressure from hardliners in the U.S., such as Republican Senator Graham, who believe that the emerging agreement concedes too much to Tehran.

Renewed Tensions Between U.S. and Iran Highlight Fragility of Ceasefire Agreement

On May 26, KelpDAO announced that the final batch of 20,373.72 rsETH was transferred to the rsETH OFT adapter earlier today, marking the official completion of the operational phase of the rsETH recovery plan. Over the past two weeks, Aave and Kelp have collectively added approximately 116,000 rsETH to the rsETH OFT adapter. Since the recovery operations resumed, the minting, redemption, and reward functions of rsETH have returned to normal, and rsETH has consistently maintained a fully collateralized status since the recovery began.

[KelpDAO: Operational Phase of rsETH Recovery Plan Completed with Approximately 116,000 rsETH Added to OFT Adapter]On May 26, KelpDAO announced that the final batch of 20,373.72 rsETH was transferred to the rsETH OFT adapter earlier today, marking the official completion of the operational phase of the rsETH recovery plan. Over the past two weeks, Aave and Kelp have collectively added approximately 116,000 rsETH to the rsETH OFT adapter. Since the recovery operations resumed, the minting, redemption, and reward functions of rsETH have returned to normal, and rsETH has consistently maintained a fully collateralized status since the recovery began.

KelpDAO: Operational Phase of rsETH Recovery Plan Completed with Approximately 116,000 rsETH Added to OFT Adapter

On May 26, according to HTX market data, Bitcoin fell below $77,000, with a 24-hour decline of 0.27%. Ethereum dropped below $2,100, with a 24-hour decline of 0.35%.

[Bitcoin Falls Below $77,000, Ethereum Drops Below $2,100]On May 26, according to HTX market data, Bitcoin fell below $77,000, with a 24-hour decline of 0.27%. Ethereum dropped below $2,100, with a 24-hour decline of 0.35%.

Bitcoin Falls Below $77,000, Ethereum Drops Below $2,100

On May 26, crypto analyst Axel Adler Jr. stated that although BTC recently climbed back above $77,000, net inflows to trading platforms and continued outflows from spot ETFs are still creating localized selling pressure in the market. Data shows that over the past week, net inflows to BTC trading platforms amounted to approximately 18,000 BTC, indicating that more BTC is being transferred to exchanges in preparation for sale. Meanwhile, U.S. spot Bitcoin ETFs experienced a net outflow of about 16,000 BTC during the same period. Together, these figures create a potential selling pressure of around 34,000 BTC. Glassnode data also indicates that daily trading volume for spot BTC ETFs has dropped below $20 billion, down from over $50 billion at the end of 2025, reflecting a cooling in speculative demand from traditional financial channels. However, market sentiment has recently improved due to expectations of a peace agreement between the U.S. and Iran. BTC quickly rebounded to around $77,800 after falling below $75,000. Derivatives data shows that this recent increase was primarily driven by short covering. Total open interest (OI) for BTC has slightly rebounded from about 268,000 BTC to 250,000 BTC, while funding rates have also cooled, indicating a decrease in the crowding of leveraged long positions. Analysts believe that if BTC aims to further challenge the $80,000 mark, it will still require simultaneous growth in spot demand and open interest.

[Analysis: Net Inflows to Trading Platforms and ETF Outflows Create Potential Selling Pressure of 34,000 BTC; Bitcoin Needs Spot Buying Support to Reach $80,000]On May 26, crypto analyst Axel Adler Jr. stated that although BTC recently climbed back above $77,000, net inflows to trading platforms and continued outflows from spot ETFs are still creating localized selling pressure in the market. Data shows that over the past week, net inflows to BTC trading platforms amounted to approximately 18,000 BTC, indicating that more BTC is being transferred to exchanges in preparation for sale. Meanwhile, U.S. spot Bitcoin ETFs experienced a net outflow of about 16,000 BTC during the same period. Together, these figures create a potential selling pressure of around 34,000 BTC. Glassnode data also indicates that daily trading volume for spot BTC ETFs has dropped below $20 billion, down from over $50 billion at the end of 2025, reflecting a cooling in speculative demand from traditional financial channels. However, market sentiment has recently improved due to expectations of a peace agreement between the U.S. and Iran. BTC quickly rebounded to around $77,800 after falling below $75,000. Derivatives data shows that this recent increase was primarily driven by short covering. Total open interest (OI) for BTC has slightly rebounded from about 268,000 BTC to 250,000 BTC, while funding rates have also cooled, indicating a decrease in the crowding of leveraged long positions. Analysts believe that if BTC aims to further challenge the $80,000 mark, it will still require simultaneous growth in spot demand and open interest.

Analysis: Net Inflows to Trading Platforms and ETF Outflows Create Potential Selling Pressure of 34,000 BTC; Bitcoin Needs Spot Buying Support to Reach $80,000

On May 26, KelpDAO announced that the final batch of 20,373.72 rsETH was transferred to the rsETH OFT adapter earlier today, marking the official completion of the operational phase of the rsETH recovery plan. Over the past two weeks, Aave and Kelp have collectively added approximately 116,000 rsETH to the rsETH OFT adapter. Since the recovery operations resumed, the minting, redemption, and rewards functions of rsETH have been restored to normal, and rsETH has consistently maintained a fully collateralized status since the recovery began.

[KelpDAO: Operational Phase of rsETH Recovery Plan Completed with 116,000 rsETH Added to OFT Adapter]On May 26, KelpDAO announced that the final batch of 20,373.72 rsETH was transferred to the rsETH OFT adapter earlier today, marking the official completion of the operational phase of the rsETH recovery plan. Over the past two weeks, Aave and Kelp have collectively added approximately 116,000 rsETH to the rsETH OFT adapter. Since the recovery operations resumed, the minting, redemption, and rewards functions of rsETH have been restored to normal, and rsETH has consistently maintained a fully collateralized status since the recovery began.

KelpDAO: Operational Phase of rsETH Recovery Plan Completed with 116,000 rsETH Added to OFT Adapter

According to U.Today, Ripple's general counsel Stuart Alderoty has just revealed that the U.S. Securities and Exchange Commission has finally complied with the court order to turn over the long-demanded Hinman documents. Alderoty made the revelation via Twitter, celebrating the move as a victory for Ripple as the documents strengthen the blockchain company's legal arguments. He added that the documents are internal SEC emails and drafts of the regulator's former director of corporation finance infamous 2018 speech, are still sealed from the public.

Detail

【Ripple's general counsel says they have obtained key Hinman documents in SEC-Ripple lawsuit】According to U.Today, Ripple's general counsel Stuart Alderoty has just revealed that the U.S. Securities and Exchange Commission has finally complied with the court order to turn over the long-demanded Hinman documents. Alderoty made the revelation via Twitter, celebrating the move as a victory for Ripple as the documents strengthen the blockchain company's legal arguments. He added that the documents are internal SEC emails and drafts of the regulator's former director of corporation finance infamous 2018 speech, are still sealed from the public.

Ripple's general counsel says they have obtained key Hinman documents in SEC-Ripple lawsuit

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Article

Shanghai and Shenzhen Markets Total Trading Volume Reaches 32,057.3 Billion Yuan, SMIC Leads in Trading Volume

Ripple's general counsel says they have obtained key Hinman documents in SEC-Ripple lawsuit

Disclaimer：Il contenuto di cui sopra non rappresenta le posizioni di HTX.，HTX non fornisce alcuna raccomandazione di trading.。

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