U.S. stock index futures have risen sharply in the short term, with S&P 500 futures up 0.4%.

On May 22, according to OnchainLens monitoring, BlackRock transferred 1,587 BTC, valued at approximately $122.55 million, and 17,815 ETH, valued at approximately $37.79 million, to Coinbase.

On May 22, two insiders revealed that CATL intends to participate in the financing activities of the domestic artificial intelligence company DeepSeek. As this investment materializes, CATL is actively expanding its business by selling power supply equipment to artificial intelligence data centers. The insiders indicated that DeepSeek's first round of financing aims to raise approximately 50 billion yuan (equivalent to 7.35 billion USD), with the fundraising expected to be completed as early as next month. Previous reports suggested that after this round of funding, DeepSeek's valuation could exceed 350 billion yuan (equivalent to 51.4 billion USD). Relevant parties stated that JD.com and NetEase are also in talks regarding equity participation, although the investment details have not yet been finalized. Discussions among all parties are ongoing, and details such as the investment amount and final investors may still change. (Sina Finance)

On May 22, according to Futu's Q4 2025 financial report, as of December 31, 2025, the total customer assets on the Futu platform reached HKD 1.23 trillion (approximately USD 158.4 billion). Additionally, a report on Futu released by China Merchants International on March 16 of this year indicated that analysts from the bank stated that over 80% of the customer assets on the Futu platform are from the Greater China region. If the user funds on the Futu platform remain unchanged (showing little variation from Q3 to Q4 last year), then in the ongoing serious crackdown by the China Securities Regulatory Commission on illegal cross-border operations, the user funds affected and potentially withdrawn from Futu alone would amount to at least approximately USD 126.7 billion (with a two-year rectification period for cleaning up existing businesses). If calculated at the same level, the affected user funds at Tiger Brokers (with an AUM of USD 60.8 billion in the Q4 2025 report) could be approximately USD 48.6 billion. Thus, the total affected user funds at both Futu and Tiger Brokers in this incident could reach approximately USD 175 billion.

On May 22, it was reported that the Ministry of Finance and the People's Bank of China held the fourth leadership meeting of their joint working group. The meeting fully acknowledged the achievements made this year through the collaboration between the Ministry of Finance and the People's Bank of China. In-depth discussions were held on topics such as supporting the stable operation of financial markets, improving the coordination between fiscal and financial policies, and promoting the development of the offshore RMB bond market. Moving forward, the joint working group mechanism will continue to play a role in communication and coordination, jointly implementing a more proactive fiscal policy and a moderately loose monetary policy. (Ministry of Finance)

On May 22, ahead of the US stock market opening, both Futu and Tiger experienced a decline of over 40%. The news comes after the China Securities Regulatory Commission announced that the illegal cross-border operations of Tiger, Futu, and Changqiao violated China's securities, fund, and futures laws and regulations, disrupting market order and must be firmly dealt with. According to relevant regulations, the CSRC plans to confiscate all illegal gains of Tiger, Futu, and Changqiao's domestic and foreign related entities and impose severe penalties according to the law.

On May 22, ahead of the U.S. stock market opening, Futu plunged over 12% and Tiger Brokers dropped over 16%. In the news, the China Securities Regulatory Commission announced that the illegal cross-border business activities of Tiger, Futu, and Changqiao violated China's securities, fund, and futures laws and regulations, disrupting market order and must be firmly cracked down upon. According to relevant regulations, the CSRC plans to confiscate all illegal gains of Tiger, Futu, and Changqiao's domestic and foreign entities, and impose severe penalties according to the law.

On May 22, the China Securities Regulatory Commission announced that the illegal cross-border business activities of Tiger Brokers (NZ) Limited, Futu Securities International (Hong Kong) Limited, and Changqiao Securities (Hong Kong) Limited violated China's securities, fund, and futures laws and regulations, disrupting market order and must be firmly dealt with. In accordance with relevant regulations, the CSRC plans to confiscate all illegal gains of Tiger, Futu, and Changqiao's domestic and foreign entities and impose severe penalties according to the law. (Xinhua News Agency)

On May 22, sources revealed that DeepSeek's senior management informed potential investors during its ongoing $10 billion funding round that the startup will prioritize groundbreaking AI research over short-term commercialization. Additionally, it has been reported that founder Liang Wenfeng pledged in at least one investor meeting that the company will continue to develop open-source artificial intelligence models, working towards the long-term goal of achieving general artificial intelligence. The company's core mission is to push the boundaries of technology, with profitability not being the primary objective.