GANA Officially Launches Conflux PayFi Fiat Withdrawal Feature

May 11 — South Korea’s National Tax Service (NTS) is developing an AI system with a budget of roughly $2.2 million to monitor crypto transactions and target tax evaders. Slated for completion by late 2026, the system will combine exchange transaction records with blockchain data to flag suspicious activity (including money laundering, undeclared gifts, and offshore tax evasion) and extend monitoring to non-custodial wallets. The NTS is currently coordinating with the top five centralized crypto exchanges (CEXs) — Upbit, Bithumb, and three others — to finalize implementation details, with final tax guidelines also slated for release by late 2026. A survey from South Korea’s Financial Services Commission (FSC) found the country has over 11 million verified crypto investors, though growth has slowed: the growth rate of tradable crypto accounts fell from 25% in H1 2024 to 3% in H2 2024.

Data as of May 11 shows the S&P 500 has surged 142% from May 2024 through June 2026—but excluding artificial intelligence (AI) stocks, that gain shrinks to just 16%. AI equities now make up 45% of the S&P 500’s total market capitalization, marking an all-time high for a single thematic sector in the index. Capital Economics projects the S&P 500 will hit 7250 by year-end—but hitting that target would mean the index sees its highest-ever concentration in composition, historically speaking. Additionally, caution is warranted around $1.4 trillion in AI-related debt, which spans corporate bonds from mega-cap firms to leveraged positions in AI stocks. If credit conditions tighten going forward, or a major AI company reports disappointing revenue growth, that $1.4 trillion in AI-linked borrowing could evaporate quickly, per Cryptobriefing.

May 11 — Huobi HTX’s latest Proof of Reserves (PoR) data shows that as of May 1, 2026 (UTC+8), reserve ratios for major mainstream assets on the platform remain above 100%, with ample overall capital reserves. As one of the industry’s earliest platforms to consistently publish PoR via Merkle Tree technology, Huobi HTX has released PoR data for 43 consecutive months, offering long-term protection for user funds. In this month’s PoR update, the “USDs” aggregated asset category has been updated again. Along with existing USD-pegged stablecoins (including USDT and USDC) already aggregated, the USDS asset has been added to the “USDs” aggregation system. This update makes the platform’s overall USD asset structure more transparent, improving the user experience for viewing and verifying reserve data. The updated reserve ratios are as follows: BTC (101%), ETH (105%), TRX (108%), USDs (106%), HTX (101%), XRP (103%), DOGE (100%), SOL (101%), WLFI (103%). The amount of USDS user assets added i

On May 11, crypto analytics platform LookOnChain reported that BIT (formerly Matrixport) has just withdrawn 5,000 ETH from Binance. Notably, BIT has also been consistently offloading HYPE tokens in recent days.

On May 11, CryptoQuant analyst Darkfost noted that Bitcoin’s realized capitalization has flipped positive on a monthly basis at +0.25%—signaling capital is beginning to flow back into the Bitcoin market. Bitcoin’s realized capitalization tracks the gap between market realized profits and losses, reflecting a shift from weak hands to strong hands among investors and improved market sentiment. Still, Darkfost cautions that the sustainability of this metric will be key to the market’s future trajectory.

May 11 – Per HyperInsight monitoring (via Telegram @HyperInsight), prominent Hyperliquid trader "Loracle" opened a 10x leveraged short position on SNDK early this morning, then significantly added to the position during a short-term price spike around 8:00 am. The average entry price is $1,622, with a total position size of $8 million. Currently, the position holds an unrealized gain of $96,000 (roughly 10% ROI), making Loracle the second-largest SNDK short holder on the platform. SNDK has surged over 300% year-to-date and hit multiple all-time highs recently. Notably, Loracle’s $1,622 short entry is near the $1,625 buy target set by Mizuho Securities analyst Vijay Rakesh after his May 7 upgrade on the asset. Address: 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae