Xingye Technology said its shares have risen sharply, with the cumulative deviation in closing-price gains exceeding 20% over two consecutive trading days. According to Jin10, the company said it plans to acquire net assets related to an indium phosphide business, with the book value expected to be no more than 25 million yuan. It estimated the business would generate no more than 5 million yuan in revenue from January to May 2026, representing a very small share of the company’s 2025 revenue, and said the impact on current-period revenue and net profit was expected to be minimal. The company said the proposed acquisition still needs to be reviewed by its board of directors and remains uncertain. Xingye Technology said its main business remains the processing and sale of natural leather materials, and it has no management experience or related resources in the semiconductor new materials field. The company also warned that its share price has been highly volatile due to market sentiment and concept-driven speculation, has diverged from current performance, and faces the risk of a significant pullback.

XRP has fallen 50% over the past year even as activity on the XRP Ledger climbs toward record highs. According to BeInCrypto, Ripple’s dollar-pegged stablecoin RLUSD is pulling fresh money onto the network and deepening AMM liquidity pools without materially boosting demand for XRP. RLUSD supply on XRPL is near $785 million across about 45,500 holders after jumping nearly 30% in a month, with roughly 82% held by the top 10 wallets. BeInCrypto also cites futures positioning showing XRP open interest near $3.45 billion across 125 perpetual venues, with funding rates mostly positive as traders lean long.

The U.S. current account balance posted a deficit of $226.8 billion in the first quarter. According to Jin10, the market expectation was a deficit of $215.0 billion. The prior reading was revised to a deficit of $221.1 billion from an earlier reported deficit of $190.7 billion.

U.S. lawmakers are debating whether cryptocurrency and fintech firms should be granted limited direct access to the Federal Reserve through so-called skinny accounts. According to NS3.AI, the proposal has prompted dozens of letters, with support from the crypto industry and concerns from community banks about safety. The discussion follows an executive order issued later in May by U.S. President Donald Trump directing the Federal Reserve to evaluate access to payment rails for fintech firms, including crypto companies.

The three major U.S. stock indexes closed mixed today, with the Dow Jones Industrial Average gaining 0.36%. According to NS3.AI, the S&P 500 slipped 0.09% while the Nasdaq Composite declined 0.43%. The session ended with modest divergence among the benchmarks, as the Dow finished higher and the broader S&P 500 and tech-heavy Nasdaq closed lower.

Micron Technology CEO said it is currently not possible to predict when memory supply will catch up with demand. According to Odaily, the CEO expects the tight supply situation to continue beyond 2027.

Upheaval at the Ethereum Foundation has left some of crypto’s biggest names feeling bullish on Ethereum, according to CoinDesk, after an eventful week that began with the launch of EthLabs and included layoffs at the Ethereum Foundation. CoinDesk said the developments are being watched for what they could mean for the Ethereum network.

Strategy is the world's largest publicly traded Bitcoin holder and the creator of the once phenomenal positive spiral of Bitcoin, but now it shows signs of entering a death spiral.

Nearly 100 Catholic leaders and four US law enforcement groups have opposed a key part of the CLARITY Act, warning it could weaken efforts against human trafficking and crypto crime. The growing backlash has added pressure on the bill ahead of a Senate vote.

MoonPay has acquired AI accounting start-up Entendre to expand beyond crypto payments and automate back-office financial operations.

A New York man was jailed for 15 months after using fake Telegram accounts to steal more than $1.4 million in a crypto scam. He promised staking rewards, never invested the funds, and authorities recovered most of the money.

Scammers are using fake GTA 6 websites to trick gamers into sending cryptocurrency for non-existent early access downloads. The sites imitate official stores, charge around $250, and leave victims with no way to recover their money.

Prediction market platform Kalshi has added India to its list of restricted jurisdictions, expanding its blocked regions to a total of 55, according to an updated members’ agreement released on Wednesday.

A warning from Binance co-founder Yi He about an alleged impersonator has escalated into a broader controversy involving crypto derivatives exchange CoinUp, highlighting how quickly reputation battles can spread across the industry.

Google is supporting AI startups, including those founded by former employees, with up to $350,000 in cloud credits, technical guidance and access to its infrastructure without taking equity.

A New York attorney is pressing a state judge to force an anonymous plaintiff to reveal their identity in an extraordinary case seeking legal ownership of roughly 3.8 million Bitcoin, including coins associated with Bitcoin’s pseudonymous creator Satoshi Nakamoto.

South Korea is moving its Project Hangang digital currency from testing into real banking and payment systems, including government use. Banks support the idea but warn it will be costly and require major system upgrades.