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According to GlobeNewswire, IREN announced plans to issue $2 billion of convertible senior notes due in 2033, and grant initial purchasers an additional option to purchase up to $300 million. The notes are unsecured senior debt, expected to mature in December 2033, with proceeds partially used for capped call hedging transactions and the remainder for general corporate purposes and working capital.At the same time, IREN also plans to simultaneously unwind part of the capped call hedging positions related to the convertible bonds maturing in 2029 and 2030. The company stated that hedging institutions may engage in derivative and spot trading around IREN stock, which could affect the stock price and the initial conversion price of the new notes.Previously, IREN has become one of the most aggressive companies in the U.S. stock market in expanding AI data center and Bitcoin mining infrastructure, and this large-scale financing may further enhance its capital expenditure and expansion capabilities.

According to The Block, Rob Nichols, the CEO of the American Bankers Association (ABA), sent a letter to bank executives on Sunday evening urging them to contact senators to further tighten the provisions related to stablecoin rewards before the Senate Banking Committee's markup vote on Thursday.Nichols warned that the current draft fails to effectively prevent crypto companies from offering "interest-like rewards" to users, which could lead to significant outflows of bank deposits, threatening economic growth and financial stability.The current draft, negotiated by Senators Angela Alsobrooks and Thom Tillis, prohibits paying interest or returns to users holding stablecoins but allows rewards linked to real activities or transactions, a provision that has received support from Coinbase. The banking industry groups believe that the related exceptions contain loopholes that could be exploited and jointly sent a letter on May 8 to Committee Chairman Tim Scott and Democrat Elizabeth Warren, requesting technical revisions to the wording of the provisions.

According to Gate market data, at the opening of the US stock market, the Dow Jones Industrial Average fell by 0.12%, the S&P 500 index fell by 0.16%, and the Nasdaq Composite Index fell by 0.44%. AI chip stocks showed mixed trends, with Qualcomm rising nearly 6%, Intel rising nearly 5%, and Nvidia falling by 0.3%.

Binance released its latest security report, addressing the current industry situation of rapidly spreading AI scams. The platform has deployed over 24 AI security programs and equipped more than 100 AI models to build an intelligent defense system against various types of cryptocurrency fraud.Statistics show that from early 2025 to the first quarter of 2026, Binance has protected over 5.4 million users and intercepted potential fund losses of $10.53 billion. In Q1 2026, the platform successfully intercepted 22.9 million scam and phishing attacks, protecting user funds amounting to $1.98 billion, with an average of over 9,600 real-time risk alerts pushed daily, and a total of 36,000 malicious on-chain addresses blacklisted.The report pointed out that deepfakes, voice cloning, and phishing bots have become mainstream scam tactics, with the overall scale of cryptocurrency fraud reaching $17 billion in 2025, a year-on-year increase of 30%. In terms of risk control, Binance's AI system handles 57% of fraud detection work, reducing the credit card fraud rate to 60%-70% of the industry average; it has upgraded AI anti-counterfeiting KYC reviews, with review efficiency improved by up to 100 times.The AI trading tool Binance Ai Pro uses an isolated account structure, only allowing trading permissions and prohibiting withdrawals, with the platform intercepting 12% of high-risk third-party AI plugins. Additionally, in 2025, Binance assisted in recovering $12.8 million in scammed funds, handled 48,000 cases, and collaborated with law enforcement to freeze $131 million in illegal assets.

According to Coinglass data, the current holdings of whales on the Hyperliquid platform amount to $4.282 billion, with long positions at $2.087 billion, accounting for 48.75% of the holdings, and short positions at $2.195 billion, accounting for 51.25%. The profit and loss for long positions is $42.3485 million, while for short positions it is -$78.44 million.Among them, the whale address 0xa5b0..41 has taken a 15x leveraged long position on ETH at a price of $2265.48, currently showing an unrealized profit and loss of $2.5684 million.

According to CoinDesk, the game public chain behind Axie Infinity, Ronin, will migrate from an independent sidechain to an Ethereum Layer 2 network through a hard fork on May 12, which is expected to result in approximately 10 hours of network downtime, during which all transfers, swaps, contract interactions, and on-chain gaming activities will be paused.This upgrade will introduce the OP Stack architecture and the "Proof of Distribution" allocation model, rewarding builders based on their actual contributions to the network, while significantly reducing the RON inflation rate from over 20% to less than 1%. Additionally, 90 million RON originally allocated for staking rewards will be moved to the treasury fund, and the market transaction fee will be increased from 0.5% to 1.25% to enhance security, scalability, and reshape the token economy.

According to CoinDesk, CoinShares data shows that last week, cryptocurrency funds saw a net inflow of $858 million, marking the fifth consecutive week of inflows and the largest single-week inflow since the end of April. Among them, Bitcoin funds attracted over $700 million in a single week, with a total inflow of $4.9 billion this year, indicating that institutional investors' demand for the cryptocurrency market continues to rise. Market analysts believe that expectations related to the Clarity Act have improved institutional sentiment.Currently, the BTC price remains above $80,000, and the market is focused on whether it can effectively break through the 200-day moving average located around $82,000. Marex analysts pointed out that if Bitcoin closes above $82,000 on a daily basis, accompanied by stable spot buying, it may initiate a new round of upward momentum.In terms of altcoins, SUI rose 12% in 24 hours to $1.26. Adeniyi Abiodun, co-founder of Mysten Labs, revealed that Sui plans to launch a confidential transaction feature this year to support fee-free privacy payments.In addition, Nasdaq-listed Sui Group Holdings (SUIG) previously announced that it has staked most of its SUI reserves, equivalent to a reduction of about 2.7% of the market circulation supply.

According to the official announcement, the asset for the second phase of Bitget IPO Prime is preOPAI, a digital token issued on the Solana chain by the regulated issuer Republic, aimed at mirroring the economic performance of OpenAI post-IPO on a 1:1 basis. As a leading consumer-level AI provider globally, OpenAI's official data shows that it has approximately 900 million weekly active users. Its most recent financing round reached $122 billion, with investors including Microsoft, NVIDIA, Amazon, and SoftBank.Bitget IPO Prime adopts a subscription model, allowing users to obtain corresponding subscription quotas based on their account levels. After the token distribution is completed, users can trade in the upcoming spot market; they can also exchange for stock tokens or USDT based on the market price of the underlying company's stock, as entrusted by the issuer to Bitget, after the lock-up period of the preOPAI underlying debt asset ends.IPO Prime Details:• Implied valuation of OpenAI: $898.21 billion• Total subscription amount for IPO Prime: 29,082• Total subscription value: $21,084,450• Subscription price: 1 preOPAI = $725• Investment currencies: USDT or USDGO• Total upper limit of investment pool: $300,000,000• Individual investment range: $100 - $600,000• Investment period: 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 schedule: 30% released on May 15, 30% released on June 15, 40% released on July 15

According to the official announcement, Gate Live has officially launched the "Private Mode Live Room" feature, providing a higher level of access control and content security for live streaming scenarios. This feature is now available on the web and is also supported in App version v8.18.0, currently open to all streamers. Streamers can flexibly set keys according to their needs, ensuring that only specific user groups (such as core fans, VIP users, or paying users) can watch live broadcasts, previews, and replay content after entering the key.This feature also brings more flexible marketing scenarios, allowing streamers to conduct various operational attempts such as lotteries, internal sharing sessions, or exclusive events through targeted key distribution, achieving more precise reach and higher conversion efficiency. For users, entering the live room with a key allows them to access higher quality and more targeted content.The Private Mode Live Room not only effectively prevents content from being accessed by non-target users but also makes live interaction more focused, helping to improve overall communication quality and participation experience. This mode can also enhance fans' sense of identity and participation, contributing to increased loyalty and stickiness. The launch of the Private Mode Live Room is an important step for Gate in continuously optimizing the content ecosystem and user experience. In the future, Gate will continue to expand more functional capabilities around live streaming scenarios, helping creators and users establish higher quality and more valuable connections.

The BSC ecosystem's Fortune Protocol has announced the completion of its Seed round financing. This round of financing was participated in by TBV, Cogitent Ventures, X21 Digital, CGV FoF, K24 Ventures, LandScape Capital, and others.Fortune is a new generation Web3 financial protocol focused on building and innovating liquidity infrastructure for prediction markets. The funds raised in this round will be used to accelerate the development of Fortune's AI prediction tools and large-scale prediction models, promoting further development of the protocol in terms of technology, products, and ecosystem.

According to Gate market data, the three major U.S. stock indices fluctuated slightly before the market opened, with the Nasdaq up 0.03%, the Dow down 0.07%, and the S&P 500 flat.Most of the seven major tech stocks were down before the market opened, with Apple (AAPL) up 0.05%, Microsoft (MSFT) down 0.42%, Alphabet (GOOGL) down 0.58%, Amazon (AMZN) down 0.5%, Nvidia (NVDA) down 0.75%, Tesla (TSLA) down 0.98%, and Meta (META) down 0.25%.

Bedrock (BR) is now live on Binance Alpha. Users holding at least 241 Binance Alpha points can claim an airdrop of 225 BR tokens on a first-come, first-served basis.If the reward pool is not fully distributed, the points threshold will automatically decrease by 5 points every 5 minutes. It is important to note that claiming the airdrop will consume 15 Binance Alpha points, and users must confirm the claim on the Alpha event page within 24 hours, otherwise it will be considered a forfeiture of the airdrop.

According to official news, Gate Alpha officially launched the 37th Hot Coin Trading Competition on May 11 at 16:00 (UTC+8). Users can participate by trading designated hot coins to share a total airdrop reward valued at $110,000.This event features a dual reward mechanism with a 100% winning rate. Users who did not register with an invitation code will receive 1 ordinary blind box lottery chance for every 200 USDT traded, with a total prize pool of approximately $40,000, including iPhone 17 and GT tokens; users who registered with an invitation code will receive 1 premium blind box lottery chance for every 500 USDT traded, with a total prize pool of approximately $70,000, with prizes including iPhone 17 Pro Max and high-value GT tokens. All rewards are distributed in real-time and are available until exhausted.Gate Alpha now supports popular public chains such as SOL, ETH, Gate Layer, BNB Chain, Base, SUI, ARB, World Chain, AVAX, Polygon, LINEA, ZK, OP, and Berachain, and enables seamless trading of all-chain tokens through the contract address search function, facilitating cross-chain trading and allowing users to access all on-chain tokens with one click.

According to Coinglass data, the current 8-hour average funding rate for ETH across the network is 0.0047%. Among the current mainstream exchanges, the funding rate on Binance is 0.0019%, OKX is 0.01%, Bybit is 0.0067%, and Gate is 0.0036%.

According to Coinglass data, the current 8-hour average funding rate for BTC across the network is 0.0022%. Among the current mainstream exchanges, the rate on Binance is 0.0026%, OKX is 0.01%, Bybit is 0.005%, and Gate is 0.0072%.

CryptoQuant analyst Oro Crypto (@oro_crypto) stated that the adjusted spent output profit ratio (aSOPR) of Bitcoin has returned to a structurally key area. This indicator has remained above 1 for 9 consecutive trading days since May 1, indicating that the market is continuously realizing profit sales.aSOPR is used to measure whether the Bitcoin being spent on-chain is in a profit or loss state. A value greater than 1 indicates that, on average, the spent BTC is being sold at a profit, while a value less than 1 indicates that it is being handled at a loss. The significance of this signal lies in its persistence; the consecutive 9-day sequence reduces noise interference and shows that a substantial change in market structure has occurred. The last similar consecutive profit sequence appeared from October 19 to November 4, 2025, during which BTC also experienced several consecutive days of on-chain profit spending.From a market structure perspective, this indicates that Bitcoin is absorbing profit-taking selling pressure, and the price structure has not immediately deteriorated, showing that the market currently exhibits sufficient absorption capacity. This reading does not necessarily mean entering a euphoric phase, but rather indicates that the market has shifted from a loss realization environment to a phase where participants are continuously realizing profits. As long as aSOPR remains above 1, the market structure remains constructive: participants are cashing in profits while the market maintains its absorption capacity. The key failure level is clear: if the indicator continues to fall below the 1 threshold, it means the market will start handling tokens at a loss again, which would weaken the current constructive signal.Bitcoin is not only being sold again at a profit, but this process is also persistent. This persistence transforms aSOPR into a constructive signal reflecting internal market improvement, marking the most significant positive sequence since October to November 2025.

According to the official announcement from OneBullEx, the platform's May Member Day event has officially started. This time, it continues to offer a 1:1 exchange of OBE points for USDT, with a prize pool reaching 300,000 USDT. The event will take place on May 11 from 11:00 to 20:00 (GMT+4), divided into 10 exchange sessions, with approximately 1,500 exchange slots available for each session, on a first-come, first-served basis, until all slots are filled.It is introduced that users need to consume 20 points for each exchange participation. After completing the exchange, the corresponding USDT rewards will be directly credited to their accounts. Users participating in this event must have at least 500 points in their accounts, and the specific amount credited and participation rules are subject to what is displayed on the event page.It is reported that OneBullEx has designated the 11th of each month as a fixed Member Day, continuously strengthening user participation and platform activity through mechanisms such as point exchanges, task incentives, and community interactions. As the May Member Day continues, the 1:1 exchange of OBE points for USDT is further entering a periodic operation, and Member Day is gradually becoming an important benefit scenario within the OneBullEx points system.

According to Coinglass data, the current holdings of whales on the Hyperliquid platform amount to $4.309 billion, with long positions of $2.104 billion, accounting for 48.84% of the total holdings, and short positions of $2.204 billion, accounting for 51.16%. The profit and loss for long positions is $43.8603 million, while for short positions it is -$80.8449 million.Among them, the whale address 0xa5b0..41 has taken a 15x leveraged long position on ETH at a price of $2265.48, currently showing an unrealized profit and loss of $2.5844 million.

According to The Block, Strategy's Executive Chairman Michael Saylor stated in an interview that even if the company occasionally sells a small amount of Bitcoin, it will quickly replenish it at a ratio of buying back 10 to 20 coins for every 1 sold, emphasizing that it should become a net accumulator of Bitcoin, holding more Bitcoin at the end of each year than at the beginning.Last week, Strategy mentioned in its earnings call that it would consider using its Bitcoin holdings to fund dividends for the STRC perpetual preferred stock plan, no longer viewing it as completely untouchable reserves.

Crypto.com announced that its UAE entity Foris DAX Middle East FZE has obtained a Stored Value Facility (SVF) license issued by the Central Bank of the UAE, becoming the first virtual asset service provider (VASP) in the region to receive this license. With the acquisition of this license, Crypto.com will officially launch its collaboration with the Dubai Ministry of Finance, allowing UAE residents to use crypto assets to pay for government service fees.Related fund settlements will be conducted in UAE Dirhams or in Dirham stablecoins approved by the Central Bank of the UAE. Additionally, after obtaining regulatory approval, Crypto.com also plans to advance the integration of crypto payments with Emirates Airlines and Dubai Duty Free based on this license.