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According to The Block, the Web3 asset management platform XEFFY announced the completion of a $20 million financing round, which includes $5 million in angel funding and $15 million in a private round supported by early strategic investors.The funds will be used to develop its Vault management platform, expand the on-chain real-world asset (RWA) infrastructure, and support early RWA projects through the XEFFY fund to expand the global ecosystem. The platform combines market-neutral Vault strategies with dedicated on-chain RWA infrastructure built for retail and institutional users.Currently, the tokenized RWA market is expected to exceed $30 billion by 2025, with institutions like BlackRock and Fidelity already deploying related products. The XEFFY platform has approximately 200,000 community members on X, Telegram, and Discord, and its Asia-Pacific ambassador program has about 200 contributors.

According to a report by South Korea's SBS News, the Financial Intelligence Unit (FIU) of South Korea has adjusted the amendment to the Enforcement Decree of the Specific Financial Information Act, removing the mandatory reporting obligation for virtual asset transfers exceeding 10 million won, and instead allowing exchanges to manage risks independently. The original proposal required domestic operators to report to the FIU when transferring more than 10 million won abroad, regardless of the level of risk. After adopting industry opinions, the FIU decided to cancel the mandatory reporting and instead require companies to establish internal risk management systems.Other adjustments include: the scope of the Travel Rule will be expanded from amounts over 1 million won to all amounts; the strengthened customer verification for high-risk suspicious transactions will change from mandatory to only being executed when the company assesses the risk to be particularly high; small businesses will be given a one-year grace period for the reporting condition of a debt ratio not exceeding 200%; the requirement for anti-money laundering computer equipment to be located domestically will allow the use of overseas cloud services. The amendment will take effect on August 20 after review by the Legal Affairs Office.

According to Jinshi, the S&P 1500 Asset Management Company Index fell by 1.8%, reaching a new low since April.

Coinbase announced an investment in ProShares' GENIUS Money Market ETF (ticker IQMM) to advance stablecoin cash management. This product is one of the first money market ETFs designed under the GENIUS Act that can be used for stablecoin reserves. IQMM primarily holds U.S. Treasury securities and cash equivalents with maturities of no more than 93 days, aiming to meet the reserve requirements of Article 4 of the GENIUS Act regarding "high-quality, high-liquidity assets backed 1:1."

Grayscale submitted its S-1 amendment for the Hyperliquid Staking ETF, proposing to set the fund management fee at 0.29%, with the code HYPG. This rate is lower than similar products already launched by Bitwise and 21Shares. Among them, Bitwise's BHYP has a first-month fee rate of 0%, followed by 0.34%; 21Shares' THYP fee is 0.3%. Bloomberg ETF analyst James Seyffart stated that Grayscale's fund is expected to launch as soon as this week. If successfully launched, HYPG will become the third Hyperliquid-related ETF.

According to hket, Hong Kong's Acting Secretary for Financial Services and the Treasury, Chen Haolian, stated that the authorities will submit legislative proposals to the Legislative Council within the year regarding the provision of virtual asset services and management, promoting the establishment of a comprehensive regulatory system covering trading, custody, advisory, and asset management, and implementing a mandatory licensing arrangement.The new framework will be advanced according to the principle of "same business, same risk, same rules," aligning with the current regulated activities under the Securities and Futures Ordinance, and will focus on strengthening private key management and client asset security requirements in virtual asset custody.The Hong Kong Securities and Futures Commission stated that the current applications for licenses related to virtual assets continue to increase, but licensing will adhere to the principle of "quality over quantity," balancing market capacity and quality.

According to CoinDesk, Michael Kramer, founder and CEO of Motte Capital Management, stated that the U.S. Treasury's related settlement operations are expected to withdraw about $150 billion in liquidity from the financial system, which may exacerbate Bitcoin's current decline.He pointed out that Bitcoin often serves as a leading indicator of liquidity and has recently fallen below the key support level of approximately $75,000, down about 11% from this month's high of $82,500. Michael Kramer expects that this round of liquidity tightening will mainly come from U.S. Treasury bonds and short-term Treasury bill settlements.

According to CoinDesk, Coinbase's Ethereum Layer 2 network Base has launched an AI integration tool called Base MCP, which allows users' Base accounts to connect to AI clients such as ChatGPT, Claude, and Cursor. Users can complete transfers, token exchanges, check balances, view transaction records, and interact with DeFi applications through natural language.

According to CoinDesk, Mark Connors, Chief Investment Officer of Risk Dimensions and former Head of Global Portfolio Management at Credit Suisse, stated that Bitcoin's previous underperformance against the S&P 500 index, which lasted for 142 days, ended in early May, marking the longest duration in history. It has now entered a new phase of outperformance.

The person in charge of the prediction market Polymarket stated that the recent security incident was caused by the leakage of a private key that had been in use for six years. This private key was used for internal recharge configuration, and some funds consequently flowed to related addresses.The team has now completed the rotation of the private key and revoked all production environment permissions. The subsequent plan is to migrate all private keys to a Key Management Service (KMS), abandoning traditional storage methods. The platform and UMA contracts were not attacked, user funds are safe, and platform operations are unaffected.

The Bitwise Hyperliquid ETF (BHYP) reached an asset management scale of $30.5 million within the first five trading days after its listing, with a net inflow of $26.9 million.

The China Securities Regulatory Commission and seven other departments jointly issued the "Implementation Plan for Comprehensive Rectification of Illegal Cross-Border Securities, Futures, and Fund Operating Activities."It is reported that the overall requirement of the "Rectification Plan" is to carry out concentrated rectification for two years, completely banning the illegal cross-border operating activities of foreign securities, futures, and fund operating institutions, and achieving the rectification goal of "resolutely banning the illegal and steadily cleaning up the existing stock."The targets of rectification include foreign institutions engaged in illegal cross-border securities, futures, and fund business, domestic related or cooperative entities assisting foreign institutions in illegal cross-border operations, illegal intermediaries soliciting domestic investors, internet platforms and online self-media that illegally publish information, and so on. Illegal cross-border operating activities of foreign institutions will be banned in accordance with the law, and behaviors of relevant entities that violate laws and regulations related to foreign exchange management, anti-money laundering, cybersecurity and information management, personal information protection, etc., will also be included in the scope of rectification.

According to official news, Circle CEO Jeremy Allaire stated in a social media post that cirBTC is about to launch. Circle Wrapped Bitcoin (abbreviated as cirBTC) is a tokenized BTC that is 1:1 backed by native Bitcoin (BTC), issued by Circle on the Ethereum mainnet and Arc network.Each cirBTC is supported by a reserve of 1:1 native BTC, which is held in custody by a regulated entity under the Circle group.

According to Business Insider, the blockchain venture capital firm BlockBooster announced the launch of its first fund, BlockBooster Digital Venture Fund I, on May 15, with a scale of $50 million. The fund focuses on four major tracks: AI infrastructure, on-chain transaction ecosystems, on-chain asset management, and tokenization of real-world assets (RWA), marking the company's formal entry into the digital economy as a comprehensive alternative asset manager.

According to official news, the on-chain vault protocol Plume has been granted a digital asset business license by the Bermuda Monetary Authority, becoming the world's first regulated on-chain vault manager.Plume will be part of the Bermuda digital asset regulatory framework alongside Circle, Coinbase, and Kraken, which are already operating under this regulatory framework.

Bitget is about to launch preOPAI flexible wealth management. During the event, users can go to the "Easy Coin Earning" section to subscribe to preOPAI, with a maximum of 5% APR. The subscription will open on May 19 at 18:00 (UTC+8). Specific parameters are subject to what is displayed on the subscription page, and more details can be found on the Bitget official platform.

Bitwise tweeted that it will use 10% of the management fees from its Hyperliquid ETF ($BHYP) to hold HYPE on the company's balance sheet, taking concrete action to support the development of the Hyperliquid ecosystem.Bitwise emphasized that Hyperliquid adopts a community-first model, with 99% of the blockchain's revenue used for the buyback and destruction of HYPE, stating, "If the protocol succeeds, the community should succeed." Bitwise's decision to hold HYPE is based on this principle.

Bitcoin mining company and AI infrastructure company IREN announced that it has acquired the creative and media agency Awaken, which focuses on content strategy and brand building for high-growth companies.According to the announcement, some core members of Awaken will join IREN, including Awaken founder and CEO Chris Parker, who will be responsible for IREN's overall branding and marketing strategy.IREN co-founder and co-CEO Daniel Roberts stated that as the company continues to expand into new markets and customer bases, the importance of brand awareness and user engagement is increasing. The Awaken team has long been a trusted partner of IREN, and internalizing these capabilities is a natural step in the company's expansion process.

According to Crowdfund Insider, digital bank Revolut announced that its trading division, Revolut Trading Ltd, has received an extension of permissions approved by the UK's Financial Conduct Authority (FCA) to launch more comprehensive investment and wealth management services in the UK market.Under the newly approved Variation of Permissions (VoP) license, Revolut can now manage investment portfolios for clients and participate in certain transactions as a principal. This means that the platform will be able to offer leveraged investment products, professionally managed portfolios, and customized wealth management services for high-net-worth users in the future, all of which will be integrated into its mobile application, alongside everyday banking and payment tools.It is reported that Revolut plans to further introduce AI-driven portfolio recommendation tools, continuing its transformation into a "one-stop financial platform." Earlier this year, Revolut officially obtained a full banking license in the UK. Analysts believe that the FCA's approval indicates an increase in its maturity as a regulated financial institution, while also reflecting that fintech companies are accelerating their competition with traditional banks and wealth management institutions.