investment

Yili Hua posted on platform X, acknowledging that he is very ordinary yet important. Whether in the classical industry or entering the cryptocurrency space, we have always focused on primary investment Liquid Capital & investment bank Liquid Digital and secondary trading Trend Research (crypto) & Trend Investment (classical). Although operating projects and exchanges are very profitable, our energy and capabilities are indeed limited, leaving us only to envy and be jealous.In 2018, we incubated a market maker, but because the team kept the profits for themselves and left the losses to us, we were left battered and bruised. After exiting in 2019, we have not deeply participated in market making again; at most, we have seen some good trading teams and made some investments. Conspiracy theories are always the most popular, but I am not a hexagonal warrior; where would I have the ability and energy to manage projects? The exchanges are very clear about this.

NVIDIA CEO Jensen Huang recently stated on the Dwarkesh podcast that the company chooses to invest broadly in a large number of tech companies rather than picking a few winners for two reasons: first, picking winners is not NVIDIA's responsibility; second, the company's own history serves as a lesson.Jensen Huang pointed out that when NVIDIA was founded, there were 60 3D graphics companies in the industry, and if one were to predict who would succeed at that time, NVIDIA would likely have been at the top of the least favored list. Currently, NVIDIA, as the world's most valuable company, has made extensive investments in AI ecosystems, biotechnology, robotics, and autonomous driving, holding shares in publicly traded companies such as CoreWeave, Intel, Synopsys, and Nokia.In the field of large language models, NVIDIA committed to investing up to $10 billion in Anthropic last November and announced a $30 billion investment in OpenAI this February. Jensen Huang stated at a March meeting that since both companies are about to go public, these might be NVIDIA's last rounds of investment in them.

eToro CEO Yoni Assia stated at @parisblockweek that eToro bought BTC at around $5 from 2011 to 2012, accumulating a total of 4,000 BTC, and then sold the position when the investment value reached $50 million.

According to the official announcement, the Binance Flash Exchange Regular Investment Rebate Program will terminate on May 1, 2026, at 7:59. At that time, flash exchange regular investment transactions will no longer receive rebate rewards from this program.The qualified rebates accumulated by users in April 2026 will be fully distributed before the end of May 2026. The existing regular investment program will continue to operate, but the rebate incentives will cease.

Kraken's co-CEO Arjun Sethi confirmed that the company has secretly submitted an initial public offering (IPO) application to the U.S. Securities and Exchange Commission. This IPO application has been formally advanced after plans for the initial disclosure last year.Data shows that Kraken's latest valuation is approximately $13.3 billion, a significant decrease from $20 billion in 2025. Previously, Kraken had paused its IPO plans due to a downturn in the cryptocurrency market. Deutsche Börse Group has committed to investing $200 million in exchange for a 1.5% fully diluted ownership stake in Kraken.

Anthropic recently received investment intentions from multiple venture capital firms, with some offers corresponding to a company valuation as high as $800 billion, significantly above its current valuation level.Previously, Anthropic completed a round of financing in February this year, with a valuation of approximately $380 billion; while the secondary market Caplight shows that its valuation has risen to about $688 billion. Data indicates that the company's annualized revenue has grown to approximately $30 billion, a substantial increase compared to the end of last year.Market participants indicate that with the rapid development of AI models and related products, investor interest in Anthropic continues to rise, and the company is also seen as a potential IPO candidate.

According to Bloomberg, Carlyle Group raised $1.5 billion in the first round of fundraising for its newly established asset-backed investment fund, as the private equity giant continues to expand its credit business.Pension funds, sovereign wealth funds, and other institutional investors participated in the fund—Carlyle Asset-Backed Income Fund. Unlike most fixed-term credit funds, this fund will adopt a "perpetual" structure with no set expiration date. The individual requested anonymity due to the sensitive nature of the information.

Crypto journalist Eleanor Terrett reported that the financial disclosures of Federal Reserve Chair nominee Waller show that he holds early-stage investments through employment-related investment vehicles, covering a wide range of areas, including some crypto infrastructure projects. The projects involved include: Compound (decentralized lending protocol), Optimism and Blast (Ethereum Layer 2 network), as well as Solana, in addition to trading infrastructure, crypto investment firms, and platforms in various fields such as artificial intelligence and biotechnology. These holdings appear to be relatively small, with poor liquidity, and have not generated reportable income, indicating a preference for indirect venture capital-style exposure rather than direct, tradable liquid assets.

According to Gate market data, U.S. stocks opened with the Dow Jones Industrial Average up 0.07%, the S&P 500 index up 0.31%, and the Nasdaq Composite up 0.73%. Lucid Group opened up 8% due to receiving an additional investment of $750 million from Uber and PIF; JPMorgan opened down 1.2%, while Citibank rose 1.4%.

Liquid Capital (formerly LD Capital) founder Yi Lihua tweeted that there is no 100% correct investment and trading; otherwise, one would quickly become the richest person in the world. Over the past year, starting from calling the bottom of ETH at $1450, holding on through the black swan to over $2000, then escaping the top at $4500 before 1011, failing to buy the bottom at $3000, and now insisting on buying the bottom below $2000, even if one is right 4 times, being wrong once can lead to problems. The core of trading is not about being right every time, but rather being prepared for risk control and having strategies to respond to various possible situations.

According to market news, Deutsche Börse invested $200 million in the cryptocurrency trading platform Kraken.

Y Combinator has completed its first investment entirely in stablecoins, paying $500,000 USDC to the prediction market startup Totalis, completed through three transactions on the Solana blockchain: a $1 test payment, $124,999, and $375,000. The funds are held by the financial operations platform Ramp.Y Combinator President Garry Tan stated on X that YC will offer stablecoin payment options for any startup it invests in, not limited to crypto-related companies, and noted that the new track of financial revolution will not be built on ACH or wire transfers. YC crypto sector access partner Nemil Dalal had previously stated that stablecoin transfer costs are typically less than 1 cent, settling in less than 1 second, far superior to traditional cross-border wire transfers.

According to the "News" report, the Federal Security Service of the Russian Federation (FSB) recently arrested three Telegram investment channel owners, accusing them of manipulating stock prices through a "Pump&Dump" strategy, involving over 55,000 illegal transactions related to 19 large companies on the Moscow Exchange.Research from Moscow State University shows that 11% of Telegram investment signals can have a substantial impact on stock returns, with over 60% of private investors relying on such signals to make decisions. The Central Bank of Russia stated that it will continue to monitor abnormal trading and warned that "punishment is inevitable" for illegal bloggers. Experts remind that manipulative signals are often presented in emotional language, promise quick profits, and do not disclose risks; investors should prioritize consulting licensed advisors.

According to the CoinShares research report (Issue 281), last week, digital asset investment products recorded a net inflow of $1.1 billion, the highest weekly level this year. The main reasons were that the U.S. CPI data was lower than expected and signs of a ceasefire in the situation in Iran, leading to a significant rebound in market risk appetite.In terms of asset distribution, Bitcoin led with a weekly inflow of $871 million, accumulating nearly $2 billion year-to-date; Ethereum saw a significant improvement in sentiment with an inflow of $196.5 million, but it still maintained a net outflow year-to-date; XRP had an inflow of $19.3 million; Solana experienced a slight outflow of $2.5 million. Notably, short Bitcoin products had an inflow of $20.2 million during the same period, marking the largest weekly inflow since November 2024, indicating that hedging demand still exists.On a regional level, the U.S. dominated this round of inflows, accounting for 95% of the total at $1.06 billion; Germany, Canada, and Switzerland recorded inflows of $34.6 million, $7.8 million, and $6.9 million, respectively. Trading volume increased by 13% week-on-week, but the weekly trading volume of $2.1 billion remains below the year-to-date average of $3.1 billion, and total assets under management have rebounded to early February levels.

Varys Capital's head of venture capital, Tom Dunleavy, posted on X that the financing environment in the cryptocurrency market has changed dramatically over the past six months. Previously, VCs had to constantly network, write content, appear on podcasts, participate in Spaces, promote their investment logic, and make countless calls every week to invest in good projects... But now, as long as there is money to spend, that's enough. Current projects are being "pushed in front of VCs," without VCs having to actively dig for them; as long as others know you have funds, projects will come knocking.Most VC firms are now in one of the following three states: they are out of money, they are shifting to later stages (Series A and beyond), or they are fundraising (but not smoothly). Fundraising that used to take 2-3 weeks now often drags on for 2-3 months. Projects with questionable business models or those that simply replicate the latest hot narratives can no longer secure new funding or follow-on investments (which is a good thing).Currently, there may be fewer than 20 firms that are still making pre-seed/seed investments. VCs can basically choose the projects they want to invest in at their leisure and have more time to conduct due diligence. The investment cycle in 2025 and 2026 is likely to become a historically significant "golden opportunity," but the premise is that VCs can hold on.

According to market news, Hyperliquid founder Jeffrey Yan received an investment intention based on a valuation of about $1 billion and a scale of about $100 million less than a year after the project went live. However, after careful consideration, he ultimately chose to reject the investment terms.Reports indicate that before and after the financing proposal was made, the team had been continuously using personal funds to maintain operations, consuming the founder's personal finances each month to cover project costs. During the investor's engagement, Jeff communicated with several entrepreneurs and VCs about the nature and significance of financing, but he was never convinced that external capital could enhance its intrinsic value. Ultimately, he clearly informed the team on Monday that he would reject the financing proposal.Relevant insiders described that the team members managing funds were shocked by this decision, as several preparations had already been made around the financing. Jeff's core reason was that Hyperliquid is not a traditional company but an on-chain protocol that needs to maintain neutrality. He believed that once external equity capital was introduced, it could undermine the protocol's permissionless and neutral positioning, conflicting with its long-term design goals.He had previously stated that if Bitcoin had accepted VC financing in its early days, its neutrality narrative might have been weakened. Following the same logic, he chose to continue maintaining Hyperliquid's investor-free structure and to support part of the operating expenses with personal funds in the long term. On January 28, 2024, he summarized the project's principles on social media: · No investors · No paid market makers · No fees charged to the development team (or the development team does not take fees) · No insiders (or internal privileged participants). This statement is also seen as a core footnote to Hyperliquid's extreme decentralization/decapitalization approach.

According to Asda Finance, the Financial Secretary of Hong Kong, Paul Chan, stated that the authorities' licensing strategy is "small steps, quick progress," and will initially issue a small number of licenses. There needs to be practical application scenarios, and only after summarizing experiences post-launch will a second batch be issued.Stablecoins and digital assets are financial innovations that require encouragement for breakthroughs, but at the same time, safety must be ensured, and mechanisms must be in place to prevent money laundering, thus appropriate regulations are necessary. The benefits of stablecoins include decentralization and high efficiency, but they are merely a payment tool, not an investment tool.

Bittensor co-founder Const (@const_reborn) responded on Twitter to recent allegations regarding Covenant AI. Const stated that he has no authority to pause emissions, and that the previous sale of a portion of alpha positions in three subnetworks was because these subnetworks were not operational and were in a high ratio of code destruction state. The impact of this transaction on emissions is consistent with the buying and selling behavior of ordinary TAO holders, and he does not enjoy any special privileges.Regarding management authority, Const clarified that it was Samuel himself who abandoned his Discord channel, and he did not remove his administrator role; he only temporarily restricted his ability to delete posts that honestly criticize and then restored it. Additionally, he emphasized that the scale of the token sell-off was less than 1% of his total investment in the team, and stated that exercising the rights to buy and sell tokens under the dTao system is fundamental to supporting the operation of the system.According to previous reports from ChainCatcher, the main subnetwork developer on Bittensor, Covenant AI, announced its withdrawal from Bittensor. Covenant AI founder Sam Dare stated that the reason Bittensor attracts builders, miners, validators, and investors into this ecosystem is because of its promise not to be controlled by any single entity. But this promise is a lie.