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Bitcoin mining and AI computing infrastructure company IREN Limited announced plans to privately issue convertible senior notes due in 2033 under Rule 144A to qualified institutional investors, raising $2 billion, with the possibility of an additional $300 million issuance. According to the terms, IREN can redeem the notes early after June 20230, provided certain stock price conditions are met; in the event of a 'significant change event,' investors can request the company to repurchase the bonds at principal plus accrued interest.

[Bitcoin Mining Company IREN to Issue Convertible Notes to Raise $2 Billion]Bitcoin mining and AI computing infrastructure company IREN Limited announced plans to privately issue convertible senior notes due in 2033 under Rule 144A to qualified institutional investors, raising $2 billion, with the possibility of an additional $300 million issuance. According to the terms, IREN can redeem the notes early after June 20230, provided certain stock price conditions are met; in the event of a 'significant change event,' investors can request the company to repurchase the bonds at principal plus accrued interest.

Bitcoin Mining Company IREN to Issue Convertible Notes to Raise $2 Billion

On the eve of a crucial vote by the Senate Banking Committee on comprehensive cryptocurrency legislation, American Bankers Association (ABA) CEO Rob Nichols issued an urgent letter to bank executives, calling for immediate outreach to senators to pressure for revisions to stablecoin-related provisions. The current draft fails to effectively prevent crypto firms from attracting stablecoin deposits through 'interest-like rewards,' which could lead to a massive shift of bank deposits to stablecoins, threatening economic growth and financial stability. He stated in the letter that this is 'an urgent advocacy battle that requires immediate action.' The Senate Banking Committee is expected to review and vote on the bill this Thursday, with the regulatory boundaries surrounding stablecoin yield mechanisms remaining one of the biggest points of contention.

[ABA Urges Congress to Tighten Stablecoin Yield Restrictions]On the eve of a crucial vote by the Senate Banking Committee on comprehensive cryptocurrency legislation, American Bankers Association (ABA) CEO Rob Nichols issued an urgent letter to bank executives, calling for immediate outreach to senators to pressure for revisions to stablecoin-related provisions. The current draft fails to effectively prevent crypto firms from attracting stablecoin deposits through 'interest-like rewards,' which could lead to a massive shift of bank deposits to stablecoins, threatening economic growth and financial stability. He stated in the letter that this is 'an urgent advocacy battle that requires immediate action.' The Senate Banking Committee is expected to review and vote on the bill this Thursday, with the regulatory boundaries surrounding stablecoin yield mechanisms remaining one of the biggest points of contention.

ABA Urges Congress to Tighten Stablecoin Yield Restrictions

On May 11, CNN reported that Iranian state media stated that Iran is demanding sovereignty over the Strait of Hormuz in response to the United States' proposal to end the war. According to the United Nations Convention on the Law of the Sea, a country has 'sovereign rights' to explore, develop, protect, and manage marine resources within its exclusive economic zone. However, 'all ships of all nations, whether coastal or landlocked, enjoy the right of innocent passage through the territorial sea.' The convention indicates that coastal states should not 'hamper the normal passage of foreign vessels in their territorial sea,' but this is limited to specific and defined circumstances. Coastal states may take necessary measures within their territorial sea to prevent unlawful passage.

[Iran Demands Sovereignty Over Strait of Hormuz, CNN Reports]On May 11, CNN reported that Iranian state media stated that Iran is demanding sovereignty over the Strait of Hormuz in response to the United States' proposal to end the war. According to the United Nations Convention on the Law of the Sea, a country has 'sovereign rights' to explore, develop, protect, and manage marine resources within its exclusive economic zone. However, 'all ships of all nations, whether coastal or landlocked, enjoy the right of innocent passage through the territorial sea.' The convention indicates that coastal states should not 'hamper the normal passage of foreign vessels in their territorial sea,' but this is limited to specific and defined circumstances. Coastal states may take necessary measures within their territorial sea to prevent unlawful passage.

Iran Demands Sovereignty Over Strait of Hormuz, CNN Reports

On May 11, LatePost cited foreign media reports stating that Kuaishou plans to spin off its video generation large model business, Keling AI, and raise $2 billion at an estimated valuation of approximately $20 billion, with Tencent and other institutions participating in the negotiations. The deal has not yet been finalized. According to exclusive reports from LatePost, Keling's current annual recurring revenue (ARR) has reached $500 million, doubling since before the Spring Festival and significantly exceeding Kuaishou's previous expectations. In early 2025, Kuaishou had set an annual revenue target of $60 million for Keling, but the final revenue reached $150 million. Kuaishou has established an independent incentive mechanism and a special option pool for Keling to cope with fierce competition from giants like ByteDance and Alibaba in the video generation sector. Currently, Keling's core team has also become a key target for talent acquisition in the AI video generation field. Keling is now ranked first in iOS drawing and design charts in nearly 40 countries and regions, including Brazil, Russia, and Singapore, and has become one of the highest-grossing graphic design applications in South Korea and Russia.

[Kuaishou Plans to Spin Off Keling AI with $20 Billion Valuation to Raise $2 Billion, Tencent Involved in Negotiations]On May 11, LatePost cited foreign media reports stating that Kuaishou plans to spin off its video generation large model business, Keling AI, and raise $2 billion at an estimated valuation of approximately $20 billion, with Tencent and other institutions participating in the negotiations. The deal has not yet been finalized. According to exclusive reports from LatePost, Keling's current annual recurring revenue (ARR) has reached $500 million, doubling since before the Spring Festival and significantly exceeding Kuaishou's previous expectations. In early 2025, Kuaishou had set an annual revenue target of $60 million for Keling, but the final revenue reached $150 million. Kuaishou has established an independent incentive mechanism and a special option pool for Keling to cope with fierce competition from giants like ByteDance and Alibaba in the video generation sector. Currently, Keling's core team has also become a key target for talent acquisition in the AI video generation field. Keling is now ranked first in iOS drawing and design charts in nearly 40 countries and regions, including Brazil, Russia, and Singapore, and has become one of the highest-grossing graphic design applications in South Korea and Russia.

Kuaishou Plans to Spin Off Keling AI with $20 Billion Valuation to Raise $2 Billion, Tencent Involved in Negotiations

According to CNN, Iran hopes to have sovereignty over the Strait of Hormuz. Oman also has rights to this waterway.

[CNN: Iran Seeks Sovereignty Over the Strait of Hormuz]According to CNN, Iran hopes to have sovereignty over the Strait of Hormuz. Oman also has rights to this waterway.

CNN: Iran Seeks Sovereignty Over the Strait of Hormuz

On May 11, Monday, the US stock market lacked clear direction overall, but strong corporate earnings reports led Wall Street strategists to continue raising their S&P 500 targets, while the market was still assessing the uncertainty regarding the duration of the Iran conflict. The S&P 500 index opened nearly flat. Strong performance from chip stocks continued to boost the benchmark index, with companies like Intel and Micron Technology standing out. The tech-heavy Nasdaq 100 index rose slightly by 0.2%, while the Dow Jones Industrial Average fell by 0.1%. "The market still believes a ceasefire agreement will be reached," said Tom Essaye, founder of Sevens Report, noting that this was the reason for the lack of a larger sell-off in the stock market after Trump called Iran's response to his proposal to end the war "completely unacceptable."

[Trump Criticizes Iran's Response to Peace Plan as 'Unacceptable'; US Stock Market Stalls]On May 11, Monday, the US stock market lacked clear direction overall, but strong corporate earnings reports led Wall Street strategists to continue raising their S&P 500 targets, while the market was still assessing the uncertainty regarding the duration of the Iran conflict. The S&P 500 index opened nearly flat. Strong performance from chip stocks continued to boost the benchmark index, with companies like Intel and Micron Technology standing out. The tech-heavy Nasdaq 100 index rose slightly by 0.2%, while the Dow Jones Industrial Average fell by 0.1%. "The market still believes a ceasefire agreement will be reached," said Tom Essaye, founder of Sevens Report, noting that this was the reason for the lack of a larger sell-off in the stock market after Trump called Iran's response to his proposal to end the war "completely unacceptable."

Trump Criticizes Iran's Response to Peace Plan as 'Unacceptable'; US Stock Market Stalls

On May 11, Andreessen Horowitz (a16z) announced a $75 million investment in ARC tokens for Circle Internet Group's new blockchain project, Arc. a16z stated that stablecoins are gradually becoming a vital infrastructure of the global financial system, with an annual transaction volume of $9 trillion by 2025, placing them on par with Visa and PayPal. Currently, the supply of USD stablecoins has exceeded $270 billion. a16z noted that Arc is designed as a 'new economic operating system' for institutions, supporting sub-second settlements, configurable privacy, institutional-grade validation nodes, and USDC-based cross-chain settlements. Arc will natively integrate Circle's CCTP and plans to collaborate with over 200 partners, including Goldman Sachs, Visa, and Mastercard, to build its ecosystem. a16z believes that as the global financial system gradually moves on-chain, a few blockchain networks will emerge as the foundational infrastructure of the new financial system, with Arc expected to be one of them.

[a16z Invests $75 Million in ARC Tokens, Stablecoins on Par with Visa and PayPal]On May 11, Andreessen Horowitz (a16z) announced a $75 million investment in ARC tokens for Circle Internet Group's new blockchain project, Arc. a16z stated that stablecoins are gradually becoming a vital infrastructure of the global financial system, with an annual transaction volume of $9 trillion by 2025, placing them on par with Visa and PayPal. Currently, the supply of USD stablecoins has exceeded $270 billion. a16z noted that Arc is designed as a 'new economic operating system' for institutions, supporting sub-second settlements, configurable privacy, institutional-grade validation nodes, and USDC-based cross-chain settlements. Arc will natively integrate Circle's CCTP and plans to collaborate with over 200 partners, including Goldman Sachs, Visa, and Mastercard, to build its ecosystem. a16z believes that as the global financial system gradually moves on-chain, a few blockchain networks will emerge as the foundational infrastructure of the new financial system, with Arc expected to be one of them.

a16z Invests $75 Million in ARC Tokens, Stablecoins on Par with Visa and PayPal

On May 11, Nvidia's stock price increased by 2%, reaching $219.49 per share, setting a new record high, with a total market capitalization of $5.33 trillion.

[Nvidia's Stock Price Rises 2%, Reaches Record High]On May 11, Nvidia's stock price increased by 2%, reaching $219.49 per share, setting a new record high, with a total market capitalization of $5.33 trillion.

Nvidia's Stock Price Rises 2%, Reaches Record High

On May 11, Micron Technology (MU.O) rose over 7%, setting a new historical high with a total market capitalization exceeding $900 billion. Qualcomm (QCOM.O) also reached a new historical high, currently up 12.6%.

[Micron Technology and Qualcomm Stocks Reach New Historical Highs]On May 11, Micron Technology (MU.O) rose over 7%, setting a new historical high with a total market capitalization exceeding $900 billion. Qualcomm (QCOM.O) also reached a new historical high, currently up 12.6%.

Micron Technology and Qualcomm Stocks Reach New Historical Highs

On May 11, Hong Kong's Financial Secretary Chan Mo-po released a blog post highlighting that the Greater Bay Area possesses three key capabilities: cutting-edge artificial intelligence research and development, a complete high-end manufacturing chain, and an international financial hub. Chan stated that this 'AI + manufacturing + finance' triple advantage allows Hong Kong to play two major roles during the 14th Five-Year Plan period: industrial collaboration and regulatory alignment, serving as an 'international interface' for emerging industries to land in the Bay Area, as well as a 'communication and conversion platform' for mutual reference between national and international standards.

[Chan Mo-po: The Greater Bay Area Combines Three Advantages of 'AI + Manufacturing + Finance']On May 11, Hong Kong's Financial Secretary Chan Mo-po released a blog post highlighting that the Greater Bay Area possesses three key capabilities: cutting-edge artificial intelligence research and development, a complete high-end manufacturing chain, and an international financial hub. Chan stated that this 'AI + manufacturing + finance' triple advantage allows Hong Kong to play two major roles during the 14th Five-Year Plan period: industrial collaboration and regulatory alignment, serving as an 'international interface' for emerging industries to land in the Bay Area, as well as a 'communication and conversion platform' for mutual reference between national and international standards.

Chan Mo-po: The Greater Bay Area Combines Three Advantages of 'AI + Manufacturing + Finance'

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bill soared to 0.152352 USDT, a new high with a 24-hour increase of 15.38%. It currently trades at 0.124168 USDT on HTX.

Chan Mo-po: The Greater Bay Area Combines Three Advantages of 'AI + Manufacturing + Finance'

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