Crypto Morning Brief: DeepSeek Plans $5B Funding Round; Zcash to Launch Quantum-Resistant Wallet Within One Month
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Crypto Morning Brief: DeepSeek Plans $5B Funding Round; Zcash to Launch Quantum-Resistant Wallet Within One Month
Crypto media DL News announced it will officially shut down by the end of May 2026.
Navigating Web3 tides with focused insightsBy TechFlow
Yesterday’s Market Highlights
U.S. Nonfarm Payrolls for April 2024: +115,000 vs. expected +62,000
The U.S. Bureau of Labor Statistics reported that nonfarm payrolls increased by 115,000 in April 2024, significantly surpassing the consensus expectation of 62,000. The prior month’s figure was revised upward from +178,000 to +185,000. According to the BLS, job gains in April occurred primarily in healthcare, transportation and warehousing, and retail trade, while federal government employment continued to decline.
February’s total nonfarm payroll figure was revised downward by 23,000—from –133,000 to –156,000—while March’s figure was revised upward by 7,000—from +178,000 to +185,000. After these adjustments, the combined February–March net job change is 16,000 lower than previously reported. Thus, February’s data appears worse, while March’s shows modest improvement.
NVIDIA CEO Jensen Huang: Next-Gen AI Infrastructure Requires Massive Optical Interconnects—Copper Is No Longer Sufficient
On Wednesday (U.S. Eastern Time), NVIDIA CEO Jensen Huang praised the company’s new collaboration with Corning during an interview, calling it a pivotal opportunity for rebuilding America’s technology supply chain. Huang stated that next-generation AI infrastructure will require massive optical interconnects, as computing demand is growing so rapidly that copper-based connections can no longer keep up. “We are scaling optical technologies at a scale never seen before—and frankly, no optical company has ever operated at this magnitude,” Huang said.
Huang also emphasized that the current wave of AI investment benefits extend far beyond tech companies alone. He noted surging demand for electricians, construction workers, semiconductor manufacturing personnel, and data center infrastructure specialists—clear evidence that AI-driven construction is already permeating the broader economy.
Crypto Media Outlet DL News to Shut Down by End of May 2026
According to an official announcement on DL News’ website, the outlet will cease operations by the end of May 2026. Founded in 2022 as the news division of the on-chain data platform DefiLlama, DL News aimed to deliver independent, high-quality crypto journalism. However, internal conflicts within DefiLlama in early 2023 led to an effective separation between the two entities, depriving DL News of its parent platform’s traffic support. Subsequently, overall traffic across crypto and tech media plummeted, and the rise of AI further accelerated the collapse of search-based distribution channels.
Although its commercial research arm, DL Research, achieved 270% revenue growth in 2025—reaching over seven figures in annual sales—this was insufficient to sustain overall operations. The team officially notified employees of the shutdown on May 1.
Hong Kong SFC Adds StableStock and HabitTrade to Unlicensed Platform Warning List
The Securities and Futures Commission (SFC) of Hong Kong issued a warning listing StableStock and HabitTrade as unlicensed platforms. The SFC observed online videos promoting the StableStock platform, which claims users can subscribe to Hong Kong IPOs using cryptocurrencies and advertises a partnership with HabitTrade. The SFC clarified that neither entity holds an SFC license and therefore may not conduct any regulated activities in Hong Kong or market their services to the public.
Zcash to Launch Quantum-Resistant Wallet Within One Month; Full Post-Quantum Upgrade Expected in 12–18 Months
Josh Swihart, Founder and CEO of the Zcash Open Development Lab, announced at Consensus 2026 in Miami that Zcash plans to roll out a quantum-resistant wallet within one month and achieve full post-quantum readiness—including scalability enhancements targeting Visa- and Mastercard-level throughput—within the next 12 to 18 months. Fueled by Multicoin Capital’s disclosed large-scale investment and rising privacy-focused narratives, ZEC has surged over 110% in the past 30 days. Additionally, following integration with Near Intents, users can now cross-chain swap BTC, SOL, USDC, and other assets into shielded ZEC. Since launch, these bridges have processed approximately $600 million to $700 million in volume, with shielded ZEC currently representing about 30% of the circulating supply.
DeepSeek Reportedly Raising Up to ¥50 Billion ($7.35B) in First Funding Round; Founder Liang Wenfeng May Invest ¥20 Billion ($2.94B) Personally
According to The Information, citing two anonymous sources, DeepSeek is seeking to raise up to ¥50 billion (approximately $7.35 billion) in its inaugural funding round—the largest single-round financing ever for a Chinese AI company. Reports indicate that DeepSeek’s founder and CEO, Liang Wenfeng, intends to contribute the largest individual share in this round.
This fundraising effort is reportedly accelerating the company’s monetization roadmap and commercialization strategy. Sources say DeepSeek has recently informed select investors of its plan to speed up large-model iteration cycles to align with industry standards. One source revealed that DeepSeek intends to release V4.1—a refined version of its V4 model—in June.
Anthropic Eyes $50 Billion Fundraise, Valuation Potentially Surpassing $90 Billion
Per the Financial Times, AI firm Anthropic is considering launching a new funding round this summer, with a target raise of up to $50 billion. Its pre-money valuation is reportedly around $90 billion—potentially exceeding OpenAI’s $85.2 billion valuation (as of March) and making Anthropic the world’s most highly valued AI company. Dragoneer Investment Group, General Catalyst, and Lightspeed Venture Partners have reportedly expressed preliminary interest. Sources indicate Anthropic’s annualized revenue is nearing $4.5 billion—up roughly fivefold from $900 million at year-end 2023. This round is expected to close within two months and pave the way for an IPO later this year.
Trump Signals Possible Resumption of “Operation Prosperity”
On May 8, President Trump told reporters at the White House that the U.S. may resume “Operation Prosperity”—a naval initiative designed to secure freedom of navigation for vessels stranded in the Strait of Hormuz—and expects to receive Iran’s response to the U.S.-proposed U.S.–Iran agreement later that evening. Trump called Operation Prosperity “a good idea,” but added, “there are other ways to solve this.” He warned that if progress stalls, the U.S. could relaunch the operation—albeit in an upgraded form: “It would be ‘Operation Prosperity 2.0,’ meaning we’d add additional measures on top of the original framework.”
SEC Chair Paul Atkins Outlines Regulatory Framework for On-Chain Markets; Urges Congress to Pass CLARITY Act
According to the SEC’s official website, SEC Chair Paul S. Atkins delivered remarks on May 8 at the Special Competitive Studies Project’s AI+ Summit, outlining the agency’s regulatory stance toward AI and on-chain financial markets.
Atkins stated that the SEC will advance several regulatory initiatives targeting on-chain markets, including: establishing rules defining “exchanges” as they apply to on-chain trading systems; clarifying how definitions of “brokers” and “dealers” apply to on-chain activities; delineating the scope of the “clearing agency” definition for on-chain clearing and settlement; and issuing regulatory guidance for activities involving “crypto vaults.”
On AI regulation, Atkins emphasized the SEC will not mandate specific AI models but will uphold its core mission—to protect investors, ensure fair and efficient markets, and facilitate capital formation—requiring firms to take responsibility for outcomes generated by their deployed AI tools.
Atkins also urged Congress to swiftly send the CLARITY Act to the President for signature, to provide long-term legal certainty for digital asset markets. He warned that pushing innovation offshore risks repeating the FTX collapse—and jeopardizing U.S. investor interests.
SoftBank Downscales Financing Plan Backed by OpenAI Equity
According to Bloomberg, SoftBank Group is scaling back a financing plan backed by its OpenAI equity stake. Originally aiming to raise roughly $10 billion in margin loans, the deal may now shrink to approximately $6 billion. Some lenders reportedly raised concerns about transaction structure and the reliability of valuing OpenAI—a private company—as key obstacles to closing the deal. The loan was initially structured as a two-year facility, extendable by one year, secured against SoftBank’s OpenAI shares, intended to fund further expansion in AI investments.
Market Data
Recommended Reading
Understanding $UORE: A Uniswap V4 Hook Project That Bundles Mining, Lotteries, and NFTs Into a Single Transaction
https://www.techflowpost.com/zh-CN/article/31485
This article introduces $UORE, a new project built on Uniswap V4’s Hook mechanism, integrating on-chain mining, lottery mechanics, automated pixel-NFT generation, and deflationary burn mechanisms into a single liquidity pool.
An Eight-Year Industry Retrospective: The Crypto Revolution Has Already Happened—Just Not As We Imagined
https://www.techflowpost.com/zh-CN/article/31474
This retrospective traces the author’s eight-year journey through the crypto industry—from the 2017 ICO boom to institutional adoption in 2026—analyzing cyclical booms and busts and exploring blockchain’s evolving role in global finance. Despite repeated crises, the author argues crypto is steadily building a new internet-native financial infrastructure—one that promises more equitable and efficient financial services worldwide.
A Western Scholar’s Field Notes from China’s AI Labs: Humble, Open, and Focused Solely on Building Better Models—Not Philosophy
https://www.techflowpost.com/zh-CN/article/31467
A Western scholar documents his visits to Chinese AI labs, highlighting their humble, open research culture and singular focus on improving model performance—not philosophical or societal implications. The piece contrasts U.S. and Chinese AI ecosystems, noting China’s stronger emphasis on open-source culture, greater researcher optimism, and younger talent pipeline—and observes higher public AI adoption rates in China compared to the West.
ARK Invest’s Cathie Wood Interviews Binance’s CZ: AI, Stablecoins, Quantum Threats, Crypto, and the Future of Finance
https://www.techflowpost.com/zh-CN/article/31471
This in-depth interview covers CZ’s personal background, Binance’s rise, trends shaping the crypto industry, AI’s impact on crypto, stablecoin competition, quantum computing’s potential threat to cryptography, and the convergence of traditional and crypto finance. It also explores Bitcoin’s future trajectory and the growing influence of institutional capital on crypto markets.
Coinbase Posts Its Weakest-Ever Earnings—But the Market May Be Missing the Real Story
https://www.techflowpost.com/zh-CN/article/31464
Coinbase reported a 31% YoY revenue decline and a net loss of $394 million—its second consecutive quarterly loss. Yet buried in the report lies a critical detail: the net loss includes unrealized losses on crypto assets; should markets rebound, those losses could reverse into gains. While trading fee revenue fell sharply, Coinbase posted strong growth in derivatives, subscription services, and other diversified product lines—signaling its strategic pivot toward becoming a comprehensive financial infrastructure provider.
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