ETH falls below the $2450 mark

Nvidia CEO Huang Renxun stated that Nvidia's (NVDA. O) artificial intelligence computing power is increasing by approximately one million times every 10 years, and we are still continuing this trajectory through innovative methods, not just improving chip speed. Our collaboration with TSM. N has facilitated a new process called COOS-L, making large-scale chip manufacturing possible. At the same time, we have developed the world's fastest switch, NVLink, which currently runs at a speed of 7.2TB. The NVLink backbone network has an astonishing bandwidth of 130TB per second, connecting a total of 72 GPUs using innovative cabling and structured coaxial cables. The nine data streams transmitted per second are interconnected through a powerful framework connecting switches, highlighting the strength and design behind the NVLink architecture.

Nvidia CEO Huang Renxun stated that we have been developing a new type of computer aimed at enhancing inference speed, transforming traditional artificial intelligence into an autonomous' thinking AI 'capable of real-time thinking and inference extension. To meet the demand for greater computing power, we have launched a new system called 'Grace Blackwell', which transforms ordinary computers into powerful supercomputers. I am pleased to announce that our Grace Blackwell system has now been fully put into production after a difficult development process. The Blackwell system based on HGX motherboard has been fully put into production since last year and began delivery in February. Grace Blackwell has been adopted by multiple cloud service providers and widely recognized on platforms such as Twitter. We plan to upgrade to the Grace Blackwell GB300 version this quarter, which is equipped with an upgraded version of the Blackwell chip. Its inference performance has increased by 1.5 times, HBM memory capacity has increased by 1.5 times, network connectivity has doubled, and overall system performance has been enhanced.

According to the "2025 State of Stablecoins Report" recently released by Fireblocks, stablecoins are transitioning from experimental products to financial infrastructure. The report surveyed 295 financial institution executives, with 90% stating that they are currently using, testing, or preparing for stablecoin payment scenarios, 49% using it for payments, and 75% believing that customers have a clear demand for stablecoin products. The data shows that speed (48%) is considered the biggest advantage, and regulatory barriers are significantly reduced. The Fireblocks platform currently handles 15% of the global stablecoin trading volume, with over 35 million transactions per month.

Odaily Planet Daily News: On May 18th, the Australian Federal Police (AFP) announced the seizure of 25 bitcoins (currently worth approximately $2.62 million), a seaside mansion, and a Mercedes Benz car held by a Queensland man, with a total value of AUD 4.5 million (approximately $2.88 million). According to the investigation, these assets may be involved in the theft of 950 bitcoins from a French exchange in 2013. The suspect Shane Stephen Duffy admitted to hacking crimes in 2016, involving the sale of League of Legends player data. AFP exercises special powers under the Criminal Gains Act to obtain the aforementioned assets through a court confiscation order without criminal charges being filed. Data shows that AFP has frozen over $1.2 billion in suspected criminal assets since 2019. （Cointelegraph）

BlockBeats reported that on May 19, Haidian Court, in conjunction with the China Internet Association, recently released the White Paper on Corruption Crimes of Internet Enterprise Insiders and released typical cases. In a case, a user manager of a certain network technology company introduced a supplier to cooperate in virtual currency business, accepted bribes and embezzled virtual currency to cash out. He was ultimately convicted of bribery by the court and sentenced to nine years in prison; For the crime of embezzlement of official duties, sentenced to six years' imprisonment, and decided to execute twelve years' imprisonment. From April 2014 to January 2019, the defendant Shi worked as a user manager in the Basic Business Product Department of the Tieba Business Department at a certain network technology company, responsible for Tieba product design, exploring customer needs, and promoting solutions. During this period, the defendant Shi took advantage of his position to introduce a technology company in Beijing to cooperate with his company in virtual currency reward business, and illegally accepted 6.08 million yuan from the company. In addition, between June and December 2016, the defendant Shi took advantage of his position to illegally occupy RMB 3.66 million from the victim's company by using multiple Tieba accounts to monetize some virtual currency and transfer it to his controlled personal bank account in the virtual currency business cooperation between the victim's company and a Beijing technology company. On February 17, 2021, the defendant Shi was arrested and brought to justice by the public security organs. After trial, the court found that the defendant Shi, as a company employee, illegally accepted property from others and sought benefits for others by taking advantage of his position, with a huge amount of money, which has constituted the crime of non-state personnel bribery; The defendant Shi, as a company employee, illegally took possession of the company's property by taking advantage of his position. The amount involved was huge and constituted the crime of embezzlement. He should be punished together with the crime of accepting bribes from non-state personnel. The final court ruled in accordance with the law that the defendant Shi committed the crime of accepting bribes from non-state personnel and was sentenced to nine years in prison; For the crime of embezzlement of official duties, sentenced to six years' imprisonment, and decided to execute twelve years' imprisonment. After the verdict of the case, the defendant appealed, and the second instance court ruled to reject the appeal and uphold the original verdict. The judgment has now come into effect. The judge analyzed that the defendant's corruption behavior in this case covered the "whole process" of the development, operation and realization of the virtual currency of the Internet company, from project design to demand definition, to the introduction of suppliers and the landing of products, and finally led to accepting bribes, directly seizing the virtual currency and cashing it out. The defendant "realized" his power to the extreme. The amount of corruption was huge, and it was also the longest sentence for corruption crimes committed by internal staff of Internet enterprises in the past five years. The electronicization of business processes, digitization of management permissions, virtualization of property misappropriation, and complexity of the payment chain have made the criminal behavior itself difficult to detect in this case. It took about 6 years and 10 months from the occurrence of the behavior to the arrest of the defendant, and finally the criminal clues surfaced due to the anonymous report received by the company. This case involves the examination and application of electronic evidence, the improvement of the evidence chain of virtual transactions, and the determination of the amount of crimes involving virtual property. It has the characteristics of strong concealment of corruption crimes committed by Internet enterprise insiders, virtualization of illegal interests, and is typical. (New Beijing News)