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The Shanghai Stock Exchange officially released the "Guidelines for the Application of the Shanghai Stock Exchange Issuance and Listing Review Rules No. 10 - Applicable to AI Large Model Enterprises under the Fifth Set of Listing Standards for the Sci-Tech Innovation Board," aimed at leveraging the role of the capital market to support the development of AI large model enterprises in China that are in a critical period of large-scale commercialization.The "Guidelines" combine the actual situation of technological innovation in the field of AI large models and clarify the specific requirements for applying the Fifth Set of Listing Standards for the Sci-Tech Innovation Board:Definition of Main Business: The issuer's main business must be clearly defined as "independent research and development of AI large models, model services, or model applications," while simultaneously supporting both general large models and industry-specific models.Requirements for Stage Achievements: When applying, enterprises must meet the condition of "at least one large model product has been launched and achieved large-scale application" as a standard to verify the feasibility of their product business model and commercialization capability.The Shanghai Stock Exchange stated that the next step will be to actively and steadily promote the issuance and listing of AI large model enterprises that meet this standard on the Sci-Tech Innovation Board under the guidance of the China Securities Regulatory Commission, to provide greater support for the development of technology-based enterprises that break through key core technologies.

According to the disclosure on the website of the China Securities Regulatory Commission, the IPO counseling status of Beijing Zhipu Huazhang Technology Co., Ltd. on the Sci-Tech Innovation Board has changed to "Counseling Acceptance," with the counseling brokerage being Guotai Junan Securities.

Binance founder CZ commented on Hyperliquid in the Galaxy Brains podcast, saying, "I think Hyperliquid's innovation is actually awesome." CZ stated that Hyperliquid occupies a niche market that Binance finds difficult to compete in, as it does not require KYC and claims to be a decentralized platform. However, CZ also mentioned that based on his past experiences, he would not adopt Hyperliquid's current operational model, stating, "I guess they have a good legal team."

ArcNova recently officially launched the "Global Youth Creator AI Film Festival," calling for submissions of AI films, AI short dramas, AI animations, AI music videos, and AI new media narrative works from around the world. According to official information, this year's total prize pool reaches 120,000 USDT, with co-organizers covering universities and youth creative forces in North America, Japan, Hong Kong, and other Asia-Pacific regions.As a platform focused on AI film creation and digital storytelling, ArcNova is establishing a complete link around creation, display, dissemination, motivation, and subsequent collaboration. This film festival is not only a global solicitation event but is also seen as an important move for the platform to attract global creators, accumulate quality content assets, and strengthen global recognition.The market believes that, in the context of the continued rise of AI content creation and the accelerated upgrade of platform competition, ArcNova is expected to further strengthen its platform ecosystem, creator supply, and the growth expectations of subsequent diversified service scenarios by leveraging the competition and its network of university co-organizers to penetrate the global youth creator market. Notably, as the platform's subsequent service capabilities continue to improve, ArcNova's expansion space in creation incentives, user participation, content consumption, and richer digital usage scenarios keeps the external world focused on its amplification potential in the global emerging user market.From a longer-term perspective, projects that simultaneously connect creator networks, content production, platform services, and cross-market user growth are becoming one of the more imaginative directions in the AI content track. ArcNova's approach with the Global Youth Creator AI Film Festival further signals the deepening of its global platform narrative.

According to official news, Michael S. Selig, Chairman of the Commodity Futures Trading Commission (CFTC), announced two senior personnel appointments: Donald Battle as Chief Data Innovation Officer, serving in the data department and joining the innovation working group; J Matthew Haws as Senior Advisor to the Chairman's Office and Head of the Chicago Region.Among them, Battle previously served in the cryptocurrency working group and the data science group of the enforcement division at the Securities and Exchange Commission (SEC), possessing experience in blockchain forensics, data science, and anti-money laundering; Haws has over 13 years of legal and compliance experience in the derivatives market.

Marc Andreessen, co-founder of the venture capital firm a16z, published an article outlining his stance on AI regulation by the U.S. government. He stated that if so-called regulation means creating complex rules by people who do not understand the technology, suppressing innovation through layers of approval and compliance requirements, and ultimately becoming a tool for large enterprises to consolidate market positions and hinder newcomers, then he will firmly oppose such regulation.In his view, excessive regulation often leads to startups being crushed by cumbersome procedures and high compliance costs, causing innovative talent to flow to more open markets, while regulatory agencies themselves continue to expand, ultimately deviating from their original goals.Andreessen specifically criticized the regulatory mindset centered on the "precautionary principle," arguing that if this concept is amplified indefinitely, it could lead society to reject new technologies out of fear of potential risks. Many regulatory measures often arrive late, after fundamental changes in technology and industry have already occurred, making it difficult to address real issues and potentially becoming obstacles to innovative development. He also attributed the relatively lagging state of technological innovation in Europe in recent years to a culture of excessive regulation, believing that regulation should not become a moat to protect vested interests and raise market entry barriers.However, Andreessen emphasized that he does not oppose all forms of regulation. On the contrary, he supports rules that can build market trust, ensure public safety, and maintain fair competition. For example, preventing AI from faking voices to commit financial fraud, preventing deepfake content from interfering with elections, preventing technology from being used to harm vulnerable groups, and ensuring that consumers and businesses can safely use new technologies.In his view, reasonable regulation is like guardrails on a highway and a braking system in a car; it does not hinder technological progress but rather allows innovation to develop in a faster and more sustainable manner. Andreessen stated that what is truly worth pursuing is not "zero regulation" or "heavy regulation," but finding a balance between innovative vitality and social trust, which is also his unwavering stance.Previously, the U.S. government forcibly "recalled" commercial models due to jailbreak risks, leading Anthropic to take Fable 5 offline overnight and publicly protest.

According to Bits.media, the reward pool of the NovaBox platform was hacked on June 9 on Ethereum, resulting in a loss of approximately 56.73 ETH, affecting over 130 deposit users. The attacker drained the pool's funds from 65.11 ETH to 0.09 ETH in a single transaction, accounting for about 99.86%.Security company F12 stated that the incident was not due to a smart contract vulnerability, but rather a flaw in the reward distribution mechanism. The attacker borrowed 427.5 WETH through an Aave V3 flash loan, exploiting a loophole in NovaBox's mechanism of distributing dividends before updating balances when users deposit or withdraw. The hacker first deposited a small amount of NOVA tokens to trigger the dividend calculation, then deposited a large amount of ETH, significantly increasing the actual share. However, since the system did not update the balance in time, dividends were still calculated based on the previous small share, while payments were made based on the new large share, resulting in approximately 145.82 ETH of "phantom dividends," which drained the reward pool.

The multi-chain trading protocol Novaswap developer Mynth tweeted that it will cease operations of Novaswap on June 30. The official statement indicated that although its protocol performed well in terms of security and functionality, the actual market demand for a fast and secure cross-chain experience could not support continued expansion.The team explored various possible paths but ultimately decided to shut down. All user funds are in a non-custodial state, remaining secure without any action required. The exchange function will still be available for normal use until June 30, and Discord support will continue until the end of July.

On-chain capital and prediction market infrastructure project Nova Markets announced the completion of a new round of financing, with participation from Wintermute Ventures, Robot Ventures, Big Brain VC, Cumberland, GSR, Greenfield Capital, Hash3, Bodhi Ventures, and Kairos Research.This round of financing will be used to migrate more perpetual contracts and prediction markets on-chain.Nova stated that the actual number of existing on-chain capital markets is far below the expected level, and the financing will be used to migrate more perpetual contracts and prediction markets on-chain, reshaping the generation and trading structure of related markets.

The Shanghai Stock Exchange Listing Review Committee held its 31st listing review meeting of 2026. The review results indicate that Yushu Technology Co., Ltd.'s initial public offering meets the issuance conditions, listing conditions, and information disclosure requirements.

According to a notice from MiniMax Group Inc., the board of directors has resolved to explore a preliminary proposal for the issuance of RMB shares, which may involve entering into agreements with professional advisors and consulting with relevant securities or other regulatory agencies.The company has engaged professional advisors to provide consulting on compliance with the listing requirements on the Sci-Tech Innovation Board and has signed a mentoring agreement. The issuance of RMB shares will depend on market conditions and necessary regulatory approvals.

According to The Block, the self-trading platform Hypernova built on Hyperliquid has completed a $3 million pre-seed funding round, led by Lemniscap, with participation from Very Early Ventures, CMS Holdings, and Pivot Global. Several angel investors from the Hyperliquid ecosystem also participated in this funding round.The platform automates trader payments using smart contracts, aiming to address issues such as the lack of transparency in payment processes and profitable traders becoming liabilities for traditional proprietary trading firms. Hypernova can dynamically decide whether to push positions to the market based on the quality of traders. The platform is currently in a closed alpha phase and plans to publicly launch within the next two months.

According to the announcement from the Shanghai Stock Exchange, Changxin Technology's IPO on the Sci-Tech Innovation Board has been approved by the listing committee meeting. It is reported that Changxin Technology is a leading DRAM memory chip company in China.

According to Jinshi reports, the Shanghai Stock Exchange Listing Review Committee is scheduled to hold the 31st listing review committee meeting of 2026 on June 1, 2026, to review the initial public offering of Yushu Technology Co., Ltd.

According to Catcher Predict monitoring, in the Polymarket event "Knicks vs. Cavaliers," the "Yes" option for the sub-market "Donovan Mitchell: Assists O/U 3.5" experienced a dramatic fluctuation in winning probability, plummeting from 61.5% an hour ago to the current 35% (a fluctuation of 26.5%). Please note the impact of relevant breaking news.

According to official news, the online presentation "Build the Next Era: How HTX Genesis Empowers Web3 and AI Innovators," hosted by HTX DAO and B.AI, and co-hosted by TinTinLand and OpenCity, will be held on May 21 at 20:00 UTC+8.At that time, HTX DAO ambassador Molly, HTX DAO Core Builder Helium, independent developer Fengda, 0G Asia-Pacific head JT, TinTinLand co-founder Zhiyuan, HTX DAO governance committee member DaDa, and HTX Ventures senior investment analyst Jenny will be invited to attend, focusing on the integration trends of Web3 and AI, and discussing how to utilize ecological resources, financial support, and more to build a growth bridge for the new generation of Web3 and AI builders, seizing innovative opportunities in the new cycle.

Lighter may benefit from the recent "fireside chat" between founder Vlad Novakovski and Vitalik discussing high-performance applications on Ethereum and the ZK Rollup scaling roadmap, as well as smart money seeking undervalued targets in the same sector amid multiple favorable conditions. Its platform token Lit has strengthened against the overall weakness in the crypto market. According to HTX data, it is currently priced at $1.771, with a 24-hour increase of 21.87%. The current market focus is on Lighter's high-performance application scenarios in the Ethereum ecosystem, its scalability roadmap, and the future development direction of decentralized finance (DeFi).In addition, according to DefiLlama data, Lighter's 24-hour trading volume reached $1.289 billion, with a holding volume exceeding $760 million.

According to BBX data, yesterday the global digital asset compliance process welcomed a historic policy dividend, as the U.S. federal government and the top securities regulatory agency are jointly breaking down the payment and securities boundaries between the crypto ecosystem and traditional finance. The core dynamics are as follows:Trump signs digital asset executive order: U.S. President Trump officially signed an executive order on Tuesday local time, requiring U.S. financial regulatory agencies to review existing rules within the next three months, identify and dismantle regulations that hinder fintech companies from collaborating with federally regulated financial institutions. The order specifically requires the Federal Reserve to take measures to encourage innovation within six months, reassess the eligibility of non-bank financial companies to access Federal Reserve payment accounts and services, and appoint 12 regional Federal Reserve banks to study the feasibility of independent open payment accounts.SEC poised to release "innovation exemption" framework: According to Bloomberg Law, the "Project Crypto" plan led by SEC Chairman Paul Atkins is expected to officially launch the tokenized stock "innovation exemption" framework as early as this week. This framework will allow crypto-native platforms to provide trading and clearing services for tokenized U.S. stocks to the market during the experimental period without undergoing full broker registration.Traditional exchange giants race to tokenize: Regulatory easing has already sparked competition for existing market share on Wall Street. Nasdaq, Inc. (NASDAQ: $NDAQ) has officially received SEC approval to launch trading of DTC-compliant security token versions by March 2026; meanwhile, the NYSE parent company Intercontinental Exchange, Inc. (NYSE: $ICE) has also submitted its independently developed 24/7 tokenized securities platform for final approval, which is currently pending.

According to Bloomberg, informed sources revealed that the U.S. Securities and Exchange Commission (SEC) may issue "innovation exemption" rules for tokenized stocks as early as this week, establishing a new framework for trading crypto versions of publicly listed company stocks. The SEC is inclined to allow trading of third-party tokens that are not endorsed or approved by the listed companies, which can be traded on decentralized crypto platforms but may not necessarily have rights such as voting or dividends.This exemption covers tokens traded on DeFi platforms and will test whether stock trading can migrate to crypto infrastructure in the absence of traditional equity market protections. SEC Commissioner Hester Peirce is the main proponent of this exemption, but some SEC officials do not support the decision. Institutions such as Citadel Securities and SIFMA have expressed opposition, warning that this move could undermine investor protection measures like KYC and anti-money laundering. Peirce stated that the exemption is an important step, but it will not change the entire financial system overnight.

According to CoinDesk, Cardano founder Charles Hoskinson stated that the removal of Section 604 of the CLARITY Act could lead to open-source developers facing long-term legal liability for others' use of their code.He pointed out that after developers release open-source software, even if someone later abuses the code without consent, the developers could still be permanently held accountable, and he claimed this would pose a serious threat to the open-source innovation environment.