Headline
Circle Q1 achieved $42 million in non-interest income, a record high and fifth consecutive month of growth.
Circle's Q1 financial report showed non-reserve interest income reaching $42 million, a record high and continuing a multi-quarter growth trend, indicating that Circle's revenue diversification is progressing well and its reliance on interest rates is steadily declining, with platform services, API tools, and Agent Stack generating meaningful commercial returns.
Circle's gain expands to 18%, breaking through $134
Circle (CRCL) shares surged more than 18% intraday, breaking above $134 and currently trading at $134.36, with a market capitalization of $33.06 billion.
U.S. President Trump will pay a state visit to China.
The spokesperson for the Ministry of Foreign Affairs announced that, at the invitation of President Xi Jinping, U.S. President Trump will pay a state visit to China from May 13 to 15. (CCTV)
Polymarket's IPO date appears to have been disclosed, possibly December 31 of this year.
The TradingView page appears to show Polymarket's IPO date as December 31 of this year, but Kalshi displays the same date on the same page, raising questions about the accuracy of this information.
Industry News
Musk may join Trump’s China trip as a member of the U.S. delegation.
According to market reports, Musk will join the U.S. delegation for Trump’s visit to China, prompting Tesla’s stock to surge over 1%. Previously, sources indicated that NVIDIA CEO Jensen Huang was not invited and will not accompany the delegation to Beijing.
FTX/Alameda has unstaked 200,000 SOL, worth $19.4 million.
According to Onchain Lens, FTX/Alameda has unstaked 199,263 SOL, valued at approximately $19.4 million.
Project Highlights
The Ethereum Foundation announces progress on the Glamsterdam upgrade: development network is live, and the Hegotá scaling roadmap is advancing in parallel.
The Ethereum Foundation has disclosed the latest progress on the next-stage upgrade, "Glamsterdam": ePBS is now stably running on multi-client testnets, EIP-8037's repricing mechanism has been finalized, and the Hegotá FOCIL prototype for scaling has reached a runnable implementation. Additionally, the Protocol Cluster has completed a leadership restructuring, with former leads Tim Beiko and Barnabé Monnot gradually stepping down from management roles.
Frax Finance: Tangent will open pre-deposits in one week, with frxUSD becoming one of the default stablecoins.
The DeFi project Tangent will open pre-deposits in one week, with frxUSD and USDC serving as the protocol’s default stablecoins to support initial liquidity deployment, built on the frxUSD PegKeeper pool on Curve Finance.
Tether launches developer grant program and opens applications
Tether has announced a developer grant program with no overall funding cap, paying based on technical deliverables, with individual grants ranging from approximately $1,500 to $4,000. The program covers areas such as wallet infrastructure, browser extensions, and e-commerce payment integrations, and will enhance the open-source wallet development kit (WDK).
Crypto.com has obtained a Stored Value Facility license from the UAE, enabling the use of crypto assets to pay for government services.
Crypto.com has become the first virtual asset service provider in the UAE to receive a Stored Value Facility (SVF) license from the central bank, and will collaborate with the Dubai Department of Finance to enable UAE residents to pay for government services using crypto assets, with future plans to integrate crypto payments with Emirates Airlines and Dubai Duty Free.
St. Jude Children's Research Hospital sold its donated ASTEROID holdings, cashing out approximately $676,000 in ETH.
St. Jude Children's Research Hospital received a donation of 0.5% of the total ASTEROID token supply approximately two years ago. As the market value rose from around $20,000 to over $150 million, the hospital sold the tokens in 12 installments, ultimately receiving more than 290 ETH (approximately $676,000), which will be used for pediatric disease treatment and research.
Investment and financing
AI startup Ciridae has completed a $20 million seed round led by Accel.
AI startup Ciridae has raised $20 million in seed funding, led by Accel, with participation from a16z and General Catalyst. Founded by a former a16z partner and the former head of machine learning at Apple, the company focuses on AI-driven digital transformation for mid-sized enterprises in sectors such as home services, construction, and industrial distribution. (Fortune)
Voice of the person
Trump: The war with Iran will end soon.
Trump said the war with Iran will end soon and will meet with a group of generals to discuss Iran issues. (Jinshi)
JPMorgan: Expects average oil price of $96 per barrel in 2026
JPMorgan expects the average oil price for the full year of 2026 to be $96 per barrel, with Q2, Q3, and Q4 at $103, $104, and $98 per barrel, respectively. (GoldTen)