Galaxy Partners with Sharplink to Launch $125.00M On-Chain DeFi Yield Fund
Galaxy, led by Novogratz, and Sharplink, an Ethereum treasury company, have announced a partnership to launch the “Galaxy Sharplink Onchain Yield Fund,” with a total size of $125 million, expected to officially commence operations within several weeks.
Of this, $100 million comes from Sharplink’s Ethereum treasury, and $25 million is contributed by Galaxy’s proprietary capital. Galaxy serves as the fund’s exclusive manager, responsible for protocol selection, position management, and risk control.
The fund will focus primarily on active DeFi strategies such as lending and liquidity provision, targeting an annualized return of over 10%.
[ChainCatcher]
Bitget U.S. Stock IPO Prime Phase II: OpenAI will open subscription on May 12
Bitget IPO Prime’s second asset launch is preOPAI, a digital token issued on the Solana chain by regulated issuer Republic, designed to mirror the economic performance of OpenAI after its IPO on a 1:1 basis. As a leading global consumer AI provider, OpenAI’s official data shows its weekly active users are approximately 900.00 million. Its latest round of financing reached $122.00 billion, with investors including Microsoft, NVIDIA, Amazon, and SoftBank.
Bitget IPO Prime adopts a subscription model, where users can obtain corresponding subscription quotas based on their account level. After the token distribution is completed, users can trade in the soon-to-be-opened spot market; alternatively, after the lock-up period of the underlying debt assets of preOPAI, the issuer can entrust Bitget to exchange the tokens for stock tokens or USDT for users, with reference to the stock market price of the target company.
IPO Prime Details:
• OpenAI Implied Valuation: $898.21 billion
• Total IPO Prime Subscription: 29,082
• Total Subscription Value: $21,084,450.00
• Subscription Price: 1 preOPAI = $725.00
• Investment Currency: USDT or USDGO
• Total Upper Limit of Investment Pool: $300,000,000.00
• Individual Investment Range: $100.00 – $600,000.00
• Investment Time: May 12, 16:00 to May 15, 16:00 (UTC+8)
• Distribution Time: May 15, 16:00 to 20:00 (UTC+8)
• Spot Trading Time: May 15, 22:00 (UTC+8)
• Distribution Arrangement: 30% released on May 15, 30% released on June 15, 40% released on July 15
[Foresight News]
S&P 500 payment company Corpay partners with BVNK to integrate stablecoin wallet and settlement services
Corpay (NYSE: CPAY), a S&P 500 constituent company specializing in payments, announced a partnership with BVNK—the stablecoin service provider previously acquired by Mastercard—to integrate stablecoin wallet and settlement capabilities into Corpay’s global payment network.
Users can store, exchange, and transfer stablecoins directly within the Corpay platform, with stablecoin balances displayed alongside fiat currency balances. Corpay will also integrate stablecoin settlement rails into its treasury operations to reduce reliance on pre-funded accounts and enable 24/7 settlement.
[Foresight News]
Q1 Core Metrics Miss Across the Board: Can Circle’s New Story Fill the Gap Left by Its Old Model?
Overall, the stablecoin market continues to expand, with crypto trading, payment settlement, and on-chain financial activity providing ongoing demand support for USDC. But the earnings data tells a story of a business in transition: the old model — built on reserve interest income — is being squeezed by falling rate expectations, rising distribution costs, and expanding operating expenses. The new model — CPN, Arc, Agent infrastructure — carries a compelling long-term narrative, but commercialization remains at an early stage and is not yet positioned to absorb near-term profit growth pressure.
QCP: Market Enters Critical Macro Window, BTC May Remain Range-Bound in the Short Term
CP Capital’s latest market report notes that the market is entering a critical week, with Trump set to meet Chinese leaders in Beijing and key U.S. data—including April CPI, PPI, and retail sales—due for release. Market participants are closely watching whether inflation will rebound.
QCP states that, for the crypto market, the central question is whether slowing inflation can drive down real interest rates and thereby continue supporting risk assets. Despite recent ETF outflows and market noise surrounding rumors of Strategy selling Bitcoin, BTC remains stably above $80,000, demonstrating overall resilience.
Additionally, the U.S. Senate Banking Committee’s review of the CLARITY Act continues to draw market attention. However, QCP believes current crypto market volatility is near its yearly low, with the VIX hovering around 18; in the near term, the market may remain range-bound, with $84,000 viewed as a key resistance level.
[Odaily]
Peter Schiff: STRC is a classic centralized Ponzi scheme operated by Strategy
Gold advocate and economist Peter Schiff tweeted that Bitcoin is a new variant of a decentralized Ponzi scheme, while STRC is different in nature and is a classic centralized Ponzi scheme operated by Strategy.
He said that Michael Saylor did not respond directly to this question, but instead shifted the topic by saying “Peter doesn’t love the space.”
[Foresight News]
Circle erased its earlier gains in pre-market trading, now trading at $112.79.
According to data from msx.com, Circle (CRCL) erased its earlier gains in pre-market trading, now trading at $112.79, possibly affected by the latest financial report.
Previous news: Circle’s first-quarter revenue reached $694.00 million, and USDC on-chain transaction volume increased by 263.00% year-on-year.
[Odaily]
The central bank stated that the artificial intelligence industry will inject more momentum into high-quality economic development.
The People’s Bank of China released the China Monetary Policy Execution Report for the first quarter of 2026, which mentioned that looking ahead, the artificial intelligence industry will inject more momentum into the high-quality development of the economy.
First, technological iteration continues to accelerate. With the continuous breakthroughs in key technologies such as multi-modality and strong logical reasoning, the performance of domestic large models is expected to be further improved.
Second, industrial integration is developing in depth. Artificial intelligence will be deeply integrated into key areas such as intelligent manufacturing, finance, healthcare, and transportation, promoting the intelligent reconstruction of the entire process of traditional industries.
Third, the international market space continues to expand. Domestic artificial intelligence companies have launched application projects in emerging markets such as Southeast Asia and the Middle East, and the pace of products and services going overseas has further accelerated, and international competitiveness has steadily improved.
[Golden Ten]
Ripple Receives $200.00 Million Asset-Backed Credit Line from Neuberger to Expand Margin Business
On May 11, according to Bloomberg, Ripple’s prime brokerage division has partnered with asset management firm Neuberger Berman to secure up to $200 million in asset-backed debt financing, aimed at expanding margin trading facilities offered to institutional investors.
Ripple may draw down this credit facility in tranches, based on institutional clients’ borrowing needs across equity, fixed-income, and crypto asset markets, to support their leveraged trading activities in both traditional and digital asset markets.
[PANews]
Trader A claims their Sigma wallet was stolen again, the second wallet emptied within half a year.
Trader A (@missoralways) posted that they had long stored a seven-figure amount of assets in Sigma, with no security issues arising in the past. However, recently both of their wallets were compromised and funds stolen—each incident occurring when the wallet balance fell below $10,000.
They also stated that another friend lost approximately $200,000 today and mentioned related issues involving Sigma. The Sigma team has now stepped in to investigate.
The trader emphasized that their post is intended solely as a security alert and clarified that they are not affiliated with or promoting any bot-related products.
[Odaily]
Circle’s first-quarter revenue reached $694.00 million, with USDC on-chain transaction volume increasing by 263.00% year-over-year.
Circle released its Q1 fiscal year 2026 financial report. The data shows that as of the end of the first quarter, the circulating supply of USDC reached $77.0 billion, a year-on-year increase of 28%; the on-chain transaction volume of USDC in the first quarter reached $21.5 trillion, a year-on-year increase of 263%.
The financial report shows that Circle’s total revenue and reserve income in the first quarter was $694.00 million, a year-on-year increase of 20%; adjusted EBITDA was $151.00 million, a year-on-year increase of 24%; net profit was $55.00 million, a year-on-year decrease of 15%.
In addition, Circle disclosed that its ARC Token pre-sale financing reached $222.00 million, with a fully diluted valuation of $3.0 billion, and participating investors include institutions such as a16z crypto, BlackRock, and ARK Invest. The company also announced the launch of the “Agent Stack” infrastructure for AI agent scenarios, including products such as Agent Wallets and Agent Marketplace, to support USDC-based AI agent payments and commercial activities.
[Odaily]
Michael Saylor: Strategy purchased 535 BTC last week
Michael Saylor posted on X, stating that Strategy purchased 535 BTC for approximately $43 million, at an average price of about $80,340; the BTC return rate since early 2026 has reached 9.4%.
As of May 10, 2026, Strategy holds 818,869 BTC, with a total acquisition cost of approximately $61.86 billion and an average purchase price of about $75,540.
[Odaily]
Circle Completes $222.00 million ARC Token Pre-Sale at $3.00 billion Valuation
According to CNBC, Circle has completed a $222 million ARC token presale, led by a16z, with other investors including BlackRock and Apollo. The fully diluted valuation for this round is approximately $3 billion.
Arc is a public blockchain designed for institutional contracts, governance, and AI agents, using USDC as its settlement currency. Circle will receive 25% of the token supply for validator rewards.
[Foresight News]
Ripple Prime Secures $200 Million Debt Financing from Neuberger Berman
Ripple’s prime brokerage business, Ripple Prime, has completed up to $200 million in asset-backed debt financing through Neuberger Berman’s dedicated financing division.
The funds will be used to expand margin offerings to institutional clients across equities, fixed income, and crypto asset markets.
[Foresight News]
Tether Launches Developer Grant Program and Opens Applications
Tether has announced the launch of a Developer Grants Program, which will provide financial support to developers building products based on its open-source technology stack. There is no overall limit to the funding amount, and payments will be made based on specific technical deliverables. The program is now open for applications, and developers can earn USDT or Bitcoin rewards by completing designated tasks. Individual grants range from approximately $1,500 to $4,000.00, covering areas such as wallet infrastructure, browser plugins, and e-commerce payment integration.
In addition, Tether will focus on improving its open-source Wallet Development Kit (WDK), allowing developers to directly embed non-custodial wallets in applications, enabling local key generation, transaction signing, and asset transfer without relying on custodial services or third-party APIs.
Tether CEO Paolo Ardoino stated that a large amount of infrastructure currently relies on centralized platforms and data-driven business models, and Tether hopes to support the entry into the market of systems that “can run locally, directly hold value, and do not rely on external service providers.”
The funding program covers four main areas, including core protocol development, technical documentation and educational resources, application development based on the Tether technology stack, and research into decentralization, edge AI, P2P networks, and cryptography.
[Odaily]
Kuaishou plans to spin off its Keling AI business, with a pre-IPO valuation potentially reaching $20 billion.
Social media giant Kuaishou is planning to spin off its AI video generation business “Kling AI” and seek independent financing before its IPO next year.
It is reported that Kuaishou has started Pre-IPO financing negotiations with potential investors, and Kling AI’s valuation may reach $20.00B. Kling AI focuses on the research and development of AI video generation models and is currently competing with similar products from companies such as ByteDance, Google, and Alibaba.
[The Information]
Today’s Market Pulse
The dominant theme is accelerating institutional adoption through traditional finance channels, with clear convergence between AI and crypto ecosystems, while stablecoin providers pivot to new revenue models as reserve yields compress.
Key Themes
Institutional Capital Flows into DeFi and Tokenized Assets
Galaxy and Sharplink‘s $125M on-chain DeFi fund represents institutional validation for active yield strategies, while Bitget‘s preOPAI tokenized OpenAI offering bridges traditional markets with crypto-native products. Ripple‘s $200M debt facility expands institutional margin capabilities across asset classes, signaling sophisticated capital seeking yield beyond traditional markets.
Stablecoin Evolution Beyond Reserve Yields
Circle‘s Q1 results reveal a business in transition, with reserve income under pressure as ARC token pre-sale and AI agent infrastructure (Agent Stack) emerge as strategic pivots. Tether‘s developer grant program and Corpay‘s S&P 500 stablecoin integration indicate a broader ecosystem shift toward utility and infrastructure over pure reserve income models.
AI-Crypto Convergence Accelerates
Bitget‘s OpenAI tokenized product, Circle‘s Agent Stack, and Kuaishou‘s $20B AI spin-off demonstrate strategic positioning at the AI-crypto intersection. Central banks are explicitly recognizing AI’s economic momentum, creating favorable conditions for blockchain infrastructure supporting AI agents and tokenized AI assets.
Market in Transition
BTC‘s resilience above $80,000 despite ETF outflows and Strategy‘s continued accumulation (535 BTC last week) suggests underlying strength, though QCP expects near-term range-bound movement. The Peter Schiff controversy highlights ongoing narrative battles that may impact short-term sentiment.
RichSilo Verdict
Smart money should monitor institutional adoption curves in DeFi and tokenized assets as key catalysts, with particular attention to how Circle‘s new business model performs and whether AI-crypto infrastructure achieves meaningful commercial traction. The critical macro window with inflation data and geopolitical developments could serve as a catalyst for directional breakouts, while security incidents in custodial solutions remain an underappreciated systemic risk that could accelerate decentralized infrastructure adoption.
