Crypto Morning Brief: ByteDance Plans to Increase AI Infrastructure Spending to RMB 200 Billion; This Week, AVAX, CONX, STRK, and Other Tokens Face Large Token Unlocks
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Crypto Morning Brief: ByteDance Plans to Increase AI Infrastructure Spending to RMB 200 Billion; This Week, AVAX, CONX, STRK, and Other Tokens Face Large Token Unlocks
BlackRock plans to launch two tokenized money market funds targeting stablecoin holders.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday’s Market Highlights
Iran’s Response to U.S. Proposal Focuses on “Ending the War and Ensuring Maritime Security”
According to a report by the Iranian Students’ News Agency (ISNA) on May 10, Iran’s response to the U.S. proposal aimed at ending the war centers on ending hostilities and ensuring maritime security in the Persian Gulf and the Strait of Hormuz. The Islamic Republic News Agency (IRNA) cited an informed source on May 10, reporting that Iran has formally submitted its response to Pakistan—the mediator—to the U.S.’s latest proposal for ending the war. Negotiations at this stage will focus entirely on halting hostile actions across the region. A Pakistani Foreign Ministry official confirmed on May 10 that Pakistan had forwarded Iran’s response to the U.S. immediately after receiving it.
Trump Rejects Iran’s Peace Proposal as “Completely Unacceptable”
According to JIN10 Data, U.S. President Donald Trump rejected Iran’s latest ceasefire proposal, calling it “completely unacceptable.” Iran responded by stating it would not draft proposals solely to please Trump. This development heightened market risk aversion: WTI crude oil opened 3% higher at $98.44 per barrel; the U.S. dollar strengthened; and futures for the three major U.S. stock indices fell approximately 0.3%. Meanwhile, the United Kingdom and France are spearheading discussions among over 40 countries on deploying naval escorts for vessels transiting the Strait of Hormuz following a stable ceasefire. Israeli Prime Minister Netanyahu stated that military operations against Iran have not concluded, while Iran warned that any foreign naval deployment in the Strait of Hormuz under the pretext of “protecting shipping” would be viewed as an escalation of conflict.
BlackRock Plans to Launch Two Tokenized Money Market Funds Targeting Stablecoin Holders
According to Bloomberg, BlackRock is planning to launch two money market funds tailored for investors holding cash in stablecoins. The firm has filed documentation to introduce a digital share class for its ~$6.1 billion BlackRock Select Treasury Based Liquidity Fund (BSTBL). The fund primarily invests in cash, U.S. Treasury bills, notes, and other securities with remaining maturities of no more than 93 days. The tokenized securities will be issued on the Ethereum blockchain and operate in parallel with existing traditional share classes.
Bank of America: Fed Unlikely to Cut Rates Before H2 2027
Bank of America’s latest forecast indicates the Federal Reserve will delay rate cuts until the second half of 2027, citing persistently elevated inflation and robust job growth. Previously, Bank of America Global Research anticipated two Fed rate cuts—in September and October—partly based on expectations that Trump would nominate Kevin Warsh to succeed Jerome Powell as Fed Chair, with Warsh steering policymakers toward looser monetary policy. However, shifting economic conditions have altered this view. BofA economists now state: “We no longer expect the Fed to cut rates this year.” They also note that multiple concurrent shocks—including the Iran conflict, tariffs, and the rise of AI—have made interest-rate forecasting significantly more challenging.
U.S. Judge Approves Aave’s Plan to Transfer $71M ETH Linked to North Korean Hacker Attack
According to CoinDesk, U.S. District Judge Margaret Garnett of the Southern District of New York has approved Aave’s asset recovery plan, permitting the transfer of approximately $71 million worth of ETH—previously frozen on Arbitrum and linked to a North Korea–related attack—into a wallet controlled by Aave LLC, while preserving plaintiffs’ legal recourse to those funds as terrorism victims. The ruling also amends the prior freeze notice targeting Arbitrum DAO, allowing the transfer to be executed via on-chain governance voting and exempting initiators, voters, and participants from liability under the freeze order. Final execution of the transfer remains subject to formal approval by Arbitrum’s on-chain governance.
Trust Wallet and Mesh Executives: Crypto Wallets Are Evolving Into Infrastructure for AI Agents
According to CoinDesk, executives from Trust Wallet and Mesh stated at Consensus Miami that as AI agents gain traction, crypto wallets are being reimagined as infrastructure enabling autonomous software to hold value, execute on-chain transactions, and establish on-chain identities. Trust Wallet has launched an agent kit for developers and advanced Ethereum Improvement Proposal EIP-8004 to provide on-chain identity for agents; its consumer-facing crypto app continues to require users to retain private keys and authorize every action. Mesh, meanwhile, has introduced Smart Funding—a feature that automatically routes payments across blockchains, networks, accounts, and tokens—to simplify Web3 interactions for both human and agent users.
Binance Report: Emerging-Market Users Treat Crypto Exchanges as Gateways for Savings, Payments, and Investment
According to CoinDesk, Binance’s latest research shows emerging-market users accounted for 77% of its total user base in 2026—up from 49% in 2020—and increasingly use crypto exchanges for savings, payments, and investment. The report states that 83% of users engaging with two or more platform products come from emerging markets, and their savings usage rate exceeds that of developed-market users by more than double. Additionally, roughly 36% of emerging-market users holding at least $10 in assets allocate at least half of their portfolios to stablecoins. Binance also highlights that globally, 1.3 billion adults remain unbanked, 4.7 billion lack access to credit, and 1.4 billion low-income-country depositors earn zero interest on their savings.
Digital Asset Raises $300M at $2B Valuation, Led by a16z crypto
According to Bloomberg, blockchain infrastructure firm Digital Asset is raising approximately $300 million from investors including a16z crypto at a valuation of around $2 billion. Sources familiar with the matter indicate that a16z crypto—one of the industry’s most prominent crypto-focused venture capital firms—is leading this round. The deal is expected to close within the coming weeks, though the final amount raised may still change. Digital Asset’s blockchain has already been adopted by several major banks and trading firms.
ByteDance to Increase AI Infrastructure Spending by 25% to RMB 20 Billion
Reports indicate that rising memory chip costs and ByteDance’s accelerated push into artificial intelligence (AI) have led the company to raise its AI infrastructure spending target for this year by 25% to RMB 20 billion.
Strategy CEO: Synergy Between Software Business and Bitcoin Treasury Operations; Q1 2026 Marks Strongest Software Quarter in Nearly a Decade
Phong Le, Co-CEO of Strategy, stated that the company’s software business and Bitcoin treasury operations exhibit unique synergies. In Q1 2026, its software business delivered its strongest financial quarter in nearly ten years, with revenue up 12% year-on-year—including cloud revenue growth of 59% and controllable margin expansion of 27%—and directly supported Bitcoin operational expenses. Phong Le noted that Strategy currently employs approximately 1,500 people, serves over 3,000 clients and more than 500,000 active users, and counts nearly half of the Fortune 500 among its customers. He added that the company is intensifying its AI investments and has launched Mosaic—an AI data platform integrating large language models, hyperscale cloud providers, and data warehouses.
This Week: Major Token Unlocks for AVAX, CONX, STRK, and Others Worth Over $70M
Token Unlocks data shows that AVAX, CONX, STRK, and others will undergo major token unlocks this week, totaling over $70 million in value.
- AVAX unlocks on May 12, valued at ~$17.25M, representing 0.31% of circulating supply;
- CONX unlocks on May 15, valued at ~$18.14M, representing 1.49% of circulating supply;
- STRK unlocks on May 15, valued at ~$6.73M, representing 4.05% of circulating supply;
- BASED unlocks on May 11, valued at ~$5.28M, representing 20.41% of circulating supply;
- SEI unlocks on May 15, valued at ~$4.07M, representing 0.95% of circulating supply;
- LAYER unlocks on May 11, valued at ~$3.43M, representing 7.26% of circulating supply;
- ZK unlocks on May 17, valued at ~$3.36M, representing 2.80% of circulating supply;
- CHEEL unlocks on May 13, valued at ~$2.90M, representing 0.81% of circulating supply;
- SOLV unlocks on May 17, valued at ~$2.81M, representing 17.29% of circulating supply;
- IO unlocks on May 11, valued at ~$2.13M, representing 3.95% of circulating supply;
- KAT unlocks on May 18, valued at ~$1.82M, representing 6.98% of circulating supply;
- PEAQ unlocks on May 12, valued at ~$1.52M, representing 4.04% of circulating supply;
- FUN unlocks on May 15, valued at ~$1.39M, representing 7.62% of circulating supply.
Market Data
Recommended Reading
Consensus Miami Recap: Crypto Fundamentalism Was Dismantled by Its Own Hand
https://www.techflowpost.com/zh-CN/article/31488
This article provides a detailed account of Consensus 2026, held from May 5–7, 2026, in Miami Beach. It analyzes keynote speeches by key figures in the cryptocurrency industry and their implications for the sector’s future trajectory. The piece argues that the conference marks a pivotal turning point—from crypto fundamentalism toward realism—and explores the complex interplay between crypto, U.S. politics, financial institutions, and the global economy.
Trader Taiki’s Account: Bitcoin Is Brewing a “God-Level Bullish Candle,” While Small Positions Are Taken on Zcash
https://www.techflowpost.com/zh-CN/article/31489
This article offers an in-depth analysis of Bitcoin’s (BTC) current market dynamics and future potential. It examines the fading relevance of the “four-year Bitcoin halving cycle” narrative and posits that Bitcoin may soon produce a “god-level bullish candle,” signaling the start of a new bull market. It further explores Zcash ($ZEC) as a highly reflexive asset, analyzing its investment rationale alongside broader crypto market trends and potential.
Up 100% in 30 Days, 15x YTD: Why Is English-Speaking Crypto Twitter Suddenly FOMO-ing $ZEC Again?
https://www.techflowpost.com/zh-CN/article/31493
This article details how Zcash (ZEC) has recently drawn intense market attention due to its privacy features and quantum-resistance capabilities. Its price surged over 110% in the past month and 1,500% year-to-date, pushing its market cap above $9.5 billion and elevating it to the top 20 on CoinGecko. Multicoin Capital has made a substantial investment in Zcash, viewing its privacy functions and quantum resistance as optimal tools for resisting wealth taxation and government surveillance. Several prominent crypto KOLs have also endorsed Zcash, further fueling market enthusiasm. However, Zcash’s core development team collectively resigned earlier this year, creating a gap between fundamentals and market sentiment.
“The Big Short” Protagonist Doubles Down on AI Crash Bet: Continues Shorting NVIDIA and Palantir, While Buying Software Stocks
https://www.techflowpost.com/zh-CN/article/31495
This article explores Michael Burry—the real-life inspiration for “The Big Short”—and his views on the AI bubble, along with his corresponding investment strategy. By shorting overvalued AI-related stocks (e.g., NVIDIA and Palantir) and going long on traditionally undervalued software companies caught in the AI narrative, Burry has constructed a long-short hedge portfolio designed to profit from market mispricing.
Plunges ~12%! CoreWeave—Which Was Bought by Duan Yongping—Is Becoming a Battleground for Bulls and Bears
https://www.techflowpost.com/zh-CN/article/31497
This article discusses CoreWeave—one of the most divisive AI assets in today’s U.S. equity market. Though its order backlog approaches $100 billion, concerns about widening losses and continuous insider selling have cast doubt on its financial health. Market sentiment remains sharply divided: bulls highlight its massive order book and diversified client base, while bears emphasize profitability challenges and high debt levels. The next critical catalyst is Q2 earnings—if operating margins fail to improve, the bull thesis will face rigorous stress-testing.
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