WLFI Treasury Company AI Financial: Q1 net loss reached $271.5 million, raising substantial doubt about its ability to continue as a going concern over the next year
WLFI Treasury Company AI Financial released its financial report, with a net loss of $271.500 million for the quarter ended March 28, 2026, compared to a net loss of $2.400 million in the same period last year; the company stated that its financial condition raises significant doubts about its ability to continue operating in the coming year.
During the same period, the company’s revenue was $4.700 million, all from crypto payment fintech business. AI Financial holds 7.280 billion WLFI, with a fair value of approximately $706.000 million, a significant decline from over $1.000 billion at the end of December 2025, and confirmed an unrealized loss of $348.300 million.
The company also stated that some WLFI are subject to lock-up restrictions, and its improved liquidity, revenue growth, and subsequent financing capabilities will affect its continued operation.
[Foresight News]
Bitget Wallet integrates xStocks and launches a tiered trading campaign with a total prize pool of $100,000.
Bitget Wallet has announced the completion of its RWA trading upgrade and the integration of xStocks as a new tokenized stock supply source, enabling users to trade global tokenized stocks. From May 19 to June 14 (Beijing Time), Bitget Wallet users who complete tiered trading tasks can earn up to $264 in rewards, with a total prize pool of $100,000; users holding, adding liquidity (LP) for, or participating in lending markets with any xStocks token are eligible for an exclusive 20% bonus in xPoints.
With this upgrade, users can now trade over 300 RWA tokens across Ethereum, Solana, and BNB Chain—covering U.S. equities, ETFs, oil, precious metals, and national indices—24/7, with low trading fees and zero gas costs, starting from $0 with no minimum threshold. Currently, Bitget Wallet supports a dual trading mechanism combining RFQ + AMM, enabling sub-second execution and effectively reducing slippage. It also integrates AI-powered market signals to assist trading decisions.
xStocks is jointly developed by Kraken and Backed. Its tokenized stock products feature full 1:1 underlying-asset collateralization. Since launching in June 2025, xStocks has processed over $30 billion in cumulative trading volume. This integration further advances Bitget Wallet’s “Everyday Finance, Onchain” strategy—empowering users to conduct everyday transactions of traditional financial assets directly via an onchain wallet, breaking down geographical and access barriers imposed by legacy financial infrastructure.
[Odaily]
New Jersey Police and Firemen’s Retirement System makes its first purchase of Strive shares, amounting to $220,000.
BitcoinTreasuries.NET announced on X that the New Jersey Police and Firemen’s Retirement System, which manages $33 billion in assets, has purchased 14,077 shares of Strive Bitcoin Treasury for $220,000—the first such investment by the fund.
[Odaily]
WLFI Treasury Company AI Financial Announces Q1 Financial Report: Net Loss Reaches $271.50 million, Compared to a Net Loss of $2.40 million in the Same Period Last Year
WLFI Treasury Company AI Financial released its financial report, with a net loss of $271.500 million for the quarter ended March 28, 2026, compared to a net loss of $2.400 million in the same period last year; the company stated that its financial condition raises significant doubts about its ability to continue as a going concern in the coming year. During the same period, the company’s revenue was $4.700 million, all from crypto payment fintech business.
AI Financial holds 7.280 billion WLFI with a fair value of approximately $706.000 million, a significant decrease from over $1.000 billion at the end of December 2025, and confirmed an unrealized loss of $348.300 million.
The company also stated that some WLFI are subject to lock-up restrictions, and that improved liquidity, revenue growth, and subsequent financing capabilities will affect continued operations.
[ChainCatcher]
Elon Musk Cheers NVIDIA’s Vera Launch After SpaceX Gets First Units
NVIDIA has tapped SpaceX as one of the first customers to deploy its new Vera CPU, the chipmaker’s debut processor designed specifically for agentic artificial intelligence (AI) workloads. The collaboration drew quick public backing from SpaceX chief executive Elon Musk, who reposted the announcement on X and joked that the chip lived up to its name.
NVIDIA confirmed that early Vera silicon went directly to SpaceX, OpenAI, Anthropic, and Oracle Cloud Infrastructure. The chipmaker’s hyperscale division hand-delivered the first units, framing the rollout as the start of a wider commercial deployment.
The Vera CPU houses 88 custom NVIDIA-designed Olympus cores and supports up to 1.2 TB/s of memory bandwidth using LPDDR5X memory. NVIDIA claims the chip runs agentic sandbox workloads up to 50% faster than competing rack-scale CPUs while doubling efficiency. A new 256-CPU rack configuration sustains more than 22,500 concurrent agent environments at full performance, according to NVIDIA. The system is part of the broader Rubin platform revealed at GTC in March 2026.
Musk posted his reaction shortly after NVIDIA’s official AI Infrastructure account thanked SpaceX for testing the chip. His enthusiasm follows the recent folding of xAI into SpaceX, which now operates the merged AI division under the SpaceXAI brand. The unit already runs the Colossus 1 and Colossus 2 supercomputers in Memphis.
Vera signals NVIDIA’s first serious push into CPUs aimed at AI agents rather than the GPU products that dominate its revenue. The launch coincides with rising enterprise demand for agent-based workloads that orchestrate many smaller models. NVIDIA chief executive Jensen Huang has called agent-based services the company’s next multi-trillion-dollar opportunity.
Customers lined up for deployment include Alibaba Cloud, ByteDance, Meta, CoreWeave, Lambda, and Nscale, alongside SpaceX. The breadth of early adopters suggests NVIDIA intends to extend its AI infrastructure dominance well beyond training silicon. Whether Vera meaningfully shifts CPU market share will depend on how quickly customers like SpaceX move from testing to full production. Several rivals, including AMD, are also working on competing chips aimed at the same workloads.
BlackRock deposited 5,847 Bitcoin into Coinbase, worth $449.52 million
According to Onchainlens monitoring, BlackRock deposited 5,847 Bitcoins into Coinbase, worth $449.52 million.
[Odaily Planet Daily]
Tether Applies for Company Name and Logo Trademark in South Korea
KIPRIS, a Korean patent information retrieval service, shows that Tether recently filed applications for a total of 7 trademarks in South Korea, including the “tether” logo and the gold-based stablecoin “tether gold”.
Virtual asset industry insiders speculate that this move by Tether may be a preparatory step for establishing a local branch and entering the South Korean market. The Basic Act on Virtual Assets is expected to require overseas stablecoin issuers to establish domestic branches in South Korea to conduct circulation business, and Tether’s action is seen as putting it ahead of its competitor, Circle.
Circle CEO Jeremy Allaire previously visited South Korea in April and stated that the country is one of the most dynamic virtual asset markets in the world.
[Odaily]
Iranian military spokesperson: “If attacked again, we will open a new front.”
According to Iranian sources on the 19th, an Iranian military spokesperson stated that if the enemy “makes another miscalculation” and launches another attack against Iran, Iran will respond by “opening a new front using new tools and methods.”
[Odaily]
‘Follow the gigawatts’: Bernstein sees upside in several bitcoin miners amid $90 billion in AI data center deals
Analysts at research and brokerage firm Bernstein said bitcoin (BTC) miners are positioned to benefit from rising AI infrastructure demand, assigning “Outperform” ratings to IREN (IREN), Riot Platforms (RIOT), CleanSpark (CLSK), and Core Scientific (CORZ), while maintaining MARA Holdings (MARA) at “Market Perform.”
The ratings imply varying upside from Monday closing levels. IREN closed at $50.46 versus a $100 target, implying a 98.1% upside, while Riot Platforms closed at $23.18 against a $25 target, or 7.8% upside.
CleanSpark closed at $13.44 versus a $24 target, implying 78.5% upside, and Core Scientific ended Monday at $23.57, about 1.8% below its $24 target. MARA Holdings closed at $12.18 against a $23 target, implying 88.8% upside despite its Market Perform rating.
In a note to clients on Tuesday titled “Bitcoin Miners: Google-Blackstone Neocloud news – Follow the Gigawatts,” the analysts led by Gautam Chhugani said bitcoin miners have become embedded in AI infrastructure development, citing more than $90 billion in announced AI deals covering roughly 3.7 gigawatts of capacity across hyperscalers, neoclouds, and chip providers.
Miners collectively control more than 27 gigawatts of planned power capacity, positioning them as counterparties to large-scale compute demand at a time when securing a single gigawatt of power can take close to 50 months across U.S. markets, including grid-constrained regions such as Texas.
The analysts pointed to deals across the ecosystem, including IREN’s planned 5-gigawatt AI compute buildout using Nvidia’s AI factory architecture and a $3.4 billion AI cloud deal tied to GPU deployment commitments, alongside Riot’s co-location deal with AMD covering 50 megawatts with an option to expand to 200 megawatts. The note also referenced broader partnerships involving Google, Amazon, and other miners through intermediated cloud arrangements.
Bernstein expects data centers to continue facing regulatory and permitting challenges, citing interconnection queues, zoning restrictions, environmental scrutiny, and grid capacity limitations across multiple U.S. states. Despite that backdrop, the analysts said bitcoin miners “still have an edge,” given existing access to grid-connected power and large-scale sites already in operation or under development.
Meanwhile, the analysts flagged a series of sector-wide and company-specific risks tied to power use, regulation, and execution. All miners face scrutiny from environmental groups over energy consumption tied to large-scale data center operations.
For Core Scientific, Bernstein said reallocating power from bitcoin mining into AI infrastructure could leave the company exposed to missed upside during a bitcoin bull cycle if its AI buildout slows. IREN’s AI cloud expansion is described as capital-intensive and dependent on access to flexible financing, while Riot Platforms’ concentration in Texas exposes it to potential state-level policy shifts, including taxation or operational restrictions. MARA Holdings was noted as facing production risks linked to reliance on external power partners, which could redirect capacity to other commercial uses.
Gautam Chhugani maintains long positions in various cryptocurrencies. Certain affiliates of Bernstein act as market makers or liquidity providers in the debt securities of Riot Platforms.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. © 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
[The Block]
DeepSeek: Inputting characters like these triggers the return of abnormal content, which is a model hallucination caused by special characters and does not involve security issues or privacy breaches.
PANews reported on May 19 that DeepSeek has issued a statement regarding abnormal responses from character-triggered models. Recently, it has been noted that some users have reported that after entering these special characters in conversations with DeepSeek models, the models occasionally return unexpected content, causing some users to have concerns about “dialogue leakage.”
In response to this issue, the technical team conducted a comprehensive investigation and found that the abnormal content returned by inputting characters and other characters is a model hallucination caused by special characters, and does not involve security issues or privacy breaches.
DeepSeek stated that it will subsequently enhance the model’s ability to recognize and process special characters through targeted training, fix related known issues, and optimize the model’s performance in such scenarios.
[PANews]
An address opened a long position of 5,200 SPCX tokens with 1x leverage.
According to Lookonchain, an address opened a new wallet and initiated a long position of 5,200 SPCX tokens with 1x leverage, valued at $1.05 million.
[Odaily]
U.S. stock index futures extended their decline, with Nasdaq futures falling more than 0.8%.
On May 19, according to Bybit data, U.S. stock index futures saw their losses widen.
The Nasdaq futures fell by over 0.8%, the S&P 500 index futures fell by over 0.5%, and the Dow Jones futures fell by 0.3%.
[PANews]
Institutions: AI data center demand may drive Bitcoin mining companies to be revalued, with over $900.00 billion in partnerships already announced.
Research institution Bernstein released a report stating that with the explosive demand for AI data centers, Bitcoin mining companies are becoming important participants in large-scale computing infrastructure, and they are optimistic about the future performance of mining companies such as IREN, Riot Platforms, CleanSpark, and Core Scientific.
The report pointed out that hyperscale cloud vendors, AI cloud service providers, and chip companies have announced more than $90.00B in AI infrastructure cooperation, involving approximately 3.7 GW of power capacity. Bernstein stated, “Follow the Gigawatts” is becoming the core of AI infrastructure competition, and the large-scale power resources controlled by mining companies have strategic value.
Analysts gave IREN, Riot, CleanSpark, and Core Scientific an “Outperform” rating, with a target price of $100.00 for IREN, which is about 98% upside from the current stock price; and a target price of $24.00 for CleanSpark, corresponding to about 78% upside.
The report stated that Bitcoin mining companies currently control more than 27 GW of planned power capacity in total, and in some parts of the United States, the construction of 1 GW of power access may take as long as 50 months, making existing mines an important landing point for AI data center expansion.
Bernstein also mentioned several AI cooperation cases, including IREN planning a 5 GW AI computing power park based on the NVIDIA AI Factory architecture, and Riot reaching an AI data center cooperation with AMD for up to 200 MW.
However, analysts also warned that the industry still faces challenges such as environmental review, grid capacity, and regulatory approvals. At the same time, if mining companies excessively shift their computing resources to AI, they may also miss out on future Bitcoin bull market cycle gains.
[ChainCatcher]
HTX will jointly list ZEST (Zest Protocol) today at 21:00.
According to the announcement of Huobi HTX, Huobi HTX will open the deposit service of ZEST at 18:00 (GMT+8) on May 19. ZEST/USDT spot trading and grid trading will be opened at 21:00 (GMT+8) on May 19. The withdrawal service of ZEST will be opened at 21:00 (GMT+8) on May 20.
At the same time, Huobi Leverage will add ZEST/USDT (10X) isolated margin trading at 21:00 (GMT+8) on May 19.
Zest Protocol is a Bitcoin lending protocol that enables Bitcoin liquidity providers to earn Bitcoin yields through professionally managed lending pools.
[Foresight News]
AI Financial reported a net loss of $272 million for Q1; its chairman also serves as co-founder and CEO of WLFI.
Nasdaq-listed WLFI Treasury Company AI Financial (AIFC) announced its quarterly financial report for the quarter ending March 28, 2026, with a net loss of $271.50 million for the quarter, compared to a net loss of $2.40 million in the same period last year.
The company stated that its current financial condition “raises substantial doubt about its ability to continue as a going concern for the next year.” The financial report shows that AI Financial’s revenue for the quarter was $4.70 million, all from crypto payment-related fintech businesses.
Zachary Witkoff, Chairman of AI Financial, also serves as the co-founder and CEO of World Liberty Financial.
[PANews]
Today’s Market Pulse
The crypto market exhibits diverging narratives as AI infrastructure demand creates new opportunities for Bitcoin miners while traditional crypto financials face existential threats, highlighting the sector’s bifurcation between utility and speculation.
Key Themes
AI-Crypto Convergence: NVIDIA‘s Vera CPU launch for AI workloads, with SpaceX as first customer, underscores the growing intersection of AI and crypto. Bernstein reports over $90 billion in AI infrastructure deals involving 3.7GW of capacity, positioning Bitcoin miners like IREN, Riot Platforms, CleanSpark, and Core Scientific as strategic partners due to their 27+ GW of planned power capacity. This “follow the gigawatts” paradigm suggests miners could see significant revaluation as AI demand outstrips traditional grid capacity.
Crypto Financial Stress: WLFI Treasury Company AI Financial‘s $271.5 million Q1 net loss raises substantial doubt about its viability as a going concern, with unrealized losses of $348.3 million on WLFI holdings. This financial distress contrasts sharply with institutional adoption narratives, revealing vulnerability in crypto treasury models dependent on token appreciation rather than sustainable revenue streams.
Institutional Flows and Traditional Finance Integration: BlackRock‘s $449.52 million Bitcoin deposit to Coinbase and New Jersey‘s $220,000 purchase of Strive shares demonstrate continued institutional interest. Meanwhile, Tether‘s South Korea trademark filing suggests preparation for regulatory compliance, while Bitget Wallet‘s integration of xStocks for 300+ RWA tokens bridges on-chain and traditional finance.
RichSilo Verdict
Smart money should monitor the capacity allocation decisions of Bitcoin miners between traditional mining and AI infrastructure partnerships, as this will determine their relative valuation in the coming cycle. The divergence between companies benefiting from AI tailwinds versus those facing existential distress suggests a sector-wide realignment is underway. Key catalysts include regulatory clarity for RWAs, further institutional adoption of Bitcoin as treasury assets, and execution risk for miners transitioning to AI infrastructure. The WLFI situation warrants particular attention as it may trigger broader reassessment of crypto treasury models.
