Headlines

Circle Reports $42 Million in Non-Interest Revenue for Q1, Record High and Fifth Consecutive Month of Growth

Circle’s Q1 financial results show non-reserve interest revenue (Other Revenue) reached $42 million, a record high, demonstrating sustained multi-quarter growth. This indicates successful diversification of Circle’s revenue streams and decreasing reliance on interest rates, as platform services, API tools, and the Agent Stack have generated tangible commercial returns.

Circle Shares Surge 18%, Breaking Through $134

Circle (CRCL) shares rose by 18% during trading, surpassing $134, currently trading at $134.36 with a market cap of $33.06 billion.

President Trump to Conduct State Visit to China

The Foreign Ministry spokesperson announced that, at the invitation of President Xi Jinping, U.S. President Trump will conduct a state visit to China from May 13 to 15. (CCTV)

Polymarket IPO Date Possibly Leaked, Potentially December 31 This Year

A TradingView page allegedly revealed Polymarket’s IPO date as December 31 this year, but Kalshi also shows the same date on the same page, raising doubts about the accuracy of the information.

Industry News

Musk May Join Trump’s China Delegation

Market sources indicate that Musk will join the U.S. delegation on Trump’s visit to China; Tesla shares surged over 1% immediately afterward. Previously, sources claimed NVIDIA CEO Jensen Huang was not invited and will not accompany the trip to Beijing.

FTX/Alameda Unstaked 200,000 SOL Worth $19.4 Million

According to Onchain Lens monitoring, FTX/Alameda has unstaked 199,263 SOL, valued at approximately $19.4 million.

Project Updates

Ethereum Foundation Updates on Glamsterdam Upgrade: Devnet Live, Hegotá Expansion Roadmap Advancing

The Ethereum Foundation disclosed the latest progress on the upcoming “Glamsterdam” upgrade: ePBS is now stable across multiple client devnets, EIP-8037 re-pricing mechanism has been finalized, and the FOCIL prototype for the Hegotá expansion direction is now runnable. Additionally, the Protocol Cluster completed leadership restructuring, with former leads Tim Beiko and Barnabé Monnot gradually stepping down from management roles.

Frax Finance: Tangent to Open Pre-Deposit in One Week, frxUSD to Become Default Stablecoin

DeFi project Tangent will open pre-deposit in one week, with frxUSD joining USDC as a default stablecoin for initial liquidity deployment. The project will be built on Curve Finance’s frxUSD PegKeeper pool.

Tether Launches Developer Grant Program with Open Applications

Tether announced the launch of a developer grant program with no overall funding cap, disbursed based on technical deliverables. Individual grants range from approximately $1,500 to $4,000, covering areas such as wallet infrastructure, browser extensions, and e-commerce payment integrations, while also enhancing the open-source wallet development kit (WDK).

Crypto.com Receives UAE Stored Value Facility License, Enabling Crypto Payments for Government Services

Crypto.com became the first virtual asset service provider in the UAE to receive a Stored Value Facility (SVF) license issued by the central bank. It will partner with Dubai’s Ministry of Finance, enabling UAE residents to pay government service fees using cryptocurrency. Subsequent plans include integrating crypto payments with Emirates Airlines and Dubai Duty Free.

St. Jude Children’s Research Hospital Sells Donated ASTEROID Holdings, Realizing ~$676K in ETH Proceeds

Approximately two years ago, St. Jude Children’s Research Hospital received a 0.5% donation of ASTEROID’s total supply. As its market value grew from around $20,000 to over $150 million, the hospital sold the holdings in 12 batches, ultimately receiving over 290 ETH (~$676,000), proceeds to be used for pediatric disease treatment and research.

Funding & Investment

AI Startup Ciridae Raises $20M Seed Round Led by Accel

AI startup Ciridae has raised a $20 million seed round led by Accel, with participation from a16z and General Catalyst. Founded by a former a16z partner and a former Apple machine learning lead, the company focuses on AI-driven digital transformation for mid-sized enterprises in home services, construction, and industrial distribution sectors. (Fortune)

Voices

Trump: Iran War Will End Soon

Trump stated that the war with Iran will end soon, adding he will meet with a group of generals to discuss Iran-related issues. (Golden 10)

JPMorgan: Forecasts Average Oil Price of $96/BBL in 2026

JPMorgan forecasts an average oil price of $96 per barrel for all of 2026, with Q2, Q3, and Q4 expected at $103, $104, and $98 per barrel respectively. (Golden 10)