St. Jude Children’s Research Hospital sold its donated ASTEROID holdings, generating approximately $676,000 in ETH.
Marc, the head of crypto donations at St. Jude Children’s Research Hospital, stated that the hospital received a donation of 0.5% of the total ASTEROID token supply approximately two years ago. However, due to the lack of compliant exchange channels at the time, the related assets remained in an on-chain wallet.
He noted that as ASTEROID’s market cap surged from roughly $20,000 to over $150 million, the hospital’s holdings were briefly valued between $500,000 and $1,000,000. To avoid disrupting community liquidity, the hospital ultimately sold its holdings in 12 batches over two days, continuously monitoring liquidity throughout the process.
Marc said the hospital ultimately exchanged its holdings for more than 290 ETH—worth approximately $676,000—and the proceeds will support St. Jude Children’s Research Hospital’s work in treating and researching childhood diseases.
[Odaily]
U.S. Senator Bernie Moreno slams traditional banking for obstructing the Clarity Act crypto bill
May 11th news, U.S. Senator Bernie Moreno said, “The banking cartel is in a full-blown panic over the crypto Clarity Act.”
Moreno criticized traditional banks for a long time using depositors’ funds to lend at extremely low interest rates and obtain high profits and executive bonuses. Now, stablecoins may break their monopoly and give users more financial freedom. Therefore, the banking industry is once again putting pressure on Congress and opposing related crypto legislation on the grounds that “economic growth and financial stability are threatened.”
[PANews]
Trump Calls Iran’s Response to US Proposal Stupid
U.S. President Trump told the media at the White House that Iran’s response to the U.S. proposal was “stupid” and that the “ceasefire agreement is now on shaky ground.” #Trump Says U.S.-Iran Ceasefire Is on Shaky Ground#
According to Iranian media reports on May 10, Iran has formally submitted its response to the United States’ latest proposal aimed at ending the war to Pakistan, the mediating party. Later that day, Trump posted on social media expressing that he felt “dissatisfied” and deemed Iran’s response “completely unacceptable.”
[CCTV International News]
Trump: The Iran War Will End Quickly
U.S. President Trump stated that the Iran war will end soon and that he will meet with a large group of generals to discuss the Iran issue.
Additionally, Trump praised the founder of Dell (DELL.N) for supporting the funds in Trump’s account.
[Jin10]
Huma Finance: The legacy v1 contract was attacked, resulting in a loss of approximately $101,400 USDC; the v2 system remains unaffected.
Huma Finance posted on the X platform that its old v1 contract deployed on Polygon was attacked by a vulnerability today, and approximately 101,400.00 USDC was transferred out. This incident did not affect the safety of user funds, and the related PST system was not affected either.
Currently, only the v1 old pool, which has been gradually abandoned, is affected. The Huma v2 system is a completely rewritten version and is deployed on Solana, so it is not affected by this vulnerability.
The gradual retirement of the v1 liquidity pool was already underway. After this incident, the operation of the v1 contract has been completely suspended, and the migration and closing work has been accelerated.
[Odaily]
Circle CEO mentions potential ARC airdrop: 60% of the “ecosystem” allocation is designated for airdrops.
Circle co-founder and CEO Jeremy Allaire responded to analysts’ questions during tonight’s earnings call.
When asked, “Will the ARC token have a broader distribution in the future?”, Jeremy Allaire stated: “We’ve completed the ARC token presale for this $222 million financing round at a $3.0 billion FDV, and we are obligated to ultimately distribute tokens to these presale participants. Our current core focus is driving the launch of the Arc mainnet (imminent) and fueling network utility and growth. Ultimately, as the network scales, the ARC token will play a critical role in utility, governance, staking, and security. As outlined in the ARC token whitepaper, 60% of the tokens are specifically allocated for ecosystem funding, airdrops, and other incentive programs—exactly what Circle and the broader community hope to see over time. Clearly, there will be further opportunities ahead regarding the deployment of the ARC token—particularly for this 60% allocation.”
Earlier reports indicated that the ARC token whitepaper specifies the following allocation: 60% to the ecosystem (token sales, developer grants, network growth); 25% to Circle (protocol development, staking, and governance); and 15% to long-term reserves (strategic flexibility and economic stability).
[Odaily]
Circle surged 11.52%, with its stock price breaking above $125.
msx data shows that Circle rose sharply by 11.52%, with its stock price breaking through $125.00, now trading at $125.91, with a market cap of $29.22B.
[Odaily]
Kuaishou plans to spin off Keling AI and raise $2.00B at a valuation of $20.00B, with Tencent participating in the negotiations.
Kuaishou plans to spin off its video generation large model business, Kling AI, to raise $2.00B at a valuation of $20.00B. It is currently in talks with investors such as Tencent, but the deal has not yet been completed.
Kling’s current annualized revenue has reached $500.00M, doubling since before the Spring Festival. If the transaction is completed, Kling will become the world’s most valuable independent video generation large model product, with similar product Runway valued at approximately $5.30B.
Kuaishou has also set up a new incentive mechanism for Kling. If the future IPO valuation reaches $40.00B, the team incentives will increase significantly.
[Foresight News]
Corpay Partners with BVNK to Introduce Stablecoin Wallets for Cross-Border Corporate Payments
PANews, May 11: Payment company Corpay has partnered with BVNK to introduce stablecoin wallet and settlement capabilities for its global enterprise clients, enabling them to view both stablecoin and fiat balances within the platform and perform operations including sending, receiving, storing, and exchanging.
Corpay will also utilize stablecoin payment rails in its own financial operations to reduce reliance on pre-funded accounts, improve capital efficiency, and accelerate global fund transfers.
Additionally, Corpay has integrated JPMorgan’s private blockchain Kinexys with BVNK’s stablecoin infrastructure to route select cross-border payments through blockchain-based settlement channels—operating in parallel with SWIFT, its proprietary iACH network, and local real-time payment systems. BVNK previously partnered with Visa and was acquired by Mastercard for up to $1.8 billion.
[CoinDesk]
Circle CEO Confirms ARC Airdrop Plan, 60% of Ecosystem Tokens Will Be Partially Used for Airdrops and Other Network Growth Programs
During today’s Circle Q1 2026 earnings call, CEO Jeremy Allaire officially confirmed the ARC token airdrop program for the first time. Allaire stated that 60% of the ARC token’s initial supply will be allocated to the ecosystem, specifically including token sales, developer incentives, airdrops, and other network growth initiatives.
Both Circle and the broader community will ultimately participate in this effort, and this portion of tokens is expected to have multiple deployment options in the future. CFO Jeremy Fox-Geen further added that Circle typically attaches performance conditions to its ecosystem incentive disbursements; upon disbursement, the token value will be recognized as revenue in the company’s financial statements, while a corresponding amount will be recorded on the cost side.
[Foresight News]
Sky: Solana bridge resumes operation, USDS cross-chain function restarts after rsETH vulnerability review is completed.
Sky (formerly MakerDAO) announced on X that the USDS OFT cross-chain bridge on the Solana network—previously suspended due to a security review triggered by the rsETH-related vulnerability incident—has resumed operations.
Sky emphasized that its USDS-related smart contracts and protocols themselves were unaffected during the review period; USDS has consistently remained fully overcollateralized as designed, and this status is verifiable in real time on-chain. The suspension was a precautionary security measure.
The bridge functionality on Solana is now reopened, while the Avalanche-related bridge will resume operations after completing further review.
[Odaily]
Circle’s stock price rose by more than 12% and is now trading at approximately $127.00.
On May 11, according to Bybit data, Circle’s stock price rose by over 12%, currently trading at approximately $127.
[PANews]
Today’s Market Pulse
Circle’s stock surge and confirmed ARC token airdrop plans highlight accelerating institutional adoption of stablecoin infrastructure, even as traditional finance mounts resistance and security incidents remind the market of persistent risks.
Key Themes
Stablecoin Infrastructure Expansion
Circle continues its impressive rally with stock prices breaking $125 (+11.52%) and now trading near $127. CEO Jeremy Allaire confirmed that 60% of ARC tokens will fund ecosystem growth, including airdrops, while Corpay partners with BVNK to introduce stablecoin wallets for corporate cross-border payments. These developments signal mainstream financial institutions increasingly embracing blockchain-based settlement systems, potentially reducing reliance on traditional banking networks.
Traditional Finance Pushback
U.S. Senator Bernie Moreno criticized the “banking cartel” for opposing the Clarity Act crypto bill, highlighting how stablecoins threaten traditional banking’s monopoly on financial services. This tension between crypto innovation and established financial interests represents a key political risk factor for market participants to monitor, particularly as election-year rhetoric intensifies.
Security Incidents and Protocol Resilience
Huma Finance suffered an attack on its legacy v1 contract resulting in a $101,400 USDC loss, while Sky (formerly MakerDAO) resumed operations on Solana after a security review. These incidents demonstrate the ongoing security challenges in crypto but also show how well-designed protocols can isolate vulnerabilities and maintain user funds safety through careful contract architecture and migration paths.
RichSilo Verdict
Smart money should closely monitor Circle’s momentum as a leading indicator of institutional crypto adoption, with the ARC token airdrop representing potential distribution opportunities. Key catalysts include further stablecoin integration in enterprise payments and progress on the Clarity Act, while risks involve geopolitical tensions, traditional finance regulatory pushback, and potential security incidents across DeFi protocols. The convergence of blockchain infrastructure with traditional finance appears accelerating, but execution risks remain elevated.
