Huang Renxun has left Beijing, and NVIDIA has not disclosed whether Huang Renxun met with the DeepSeek founder.

**Flash News: May 22** China’s Securities Regulatory Commission (CSRC) announced on May 22 that it has launched investigations into the onshore and offshore entities of three securities firms—Tiger Brokers (NZ) Limited, Futu Securities International (Hong Kong) Limited, and Changqiao Securities (Hong Kong) Limited—for alleged illegal securities operations in China, alongside issuing a preliminary administrative penalty notice. In response, Tiger Brokers issued a statement: “We have noted the relevant regulatory notice and will fully cooperate with authorities. All our business operations remain normal at this time. We have always prioritized compliance while maintaining close communication with regulators.”

On May 22, Al Jazeera cited Pakistani sources saying that rising demands from the U.S. and Iran over uranium and the Strait of Hormuz have pushed negotiations into a deadlock. Still, those same sources in Islamabad expressed optimism that Washington and Tehran could reach a partial understanding.

May 22: Next-generation decentralized perpetual exchange (Perp DEX) PopDEX announced the close of a $30 million funding round, led by Foresight Ventures. PopDEX is a trader-centric decentralized perpetual contract trading platform focused on three core priorities: capital efficiency, trading experience, and fair value distribution. Its mission is to build an on-chain derivatives trading platform driven entirely by real trading contributions from its user base. The project’s team stated the new capital will be allocated to key use cases: securing initial project liquidity, enhancing trading depth and capital efficiency, accelerating product development, expanding the team, and scaling marketing efforts. Currently, PopDEX has begun inviting a select group of outstanding traders to join its internal testing phase. The team will continuously optimize the product based on feedback from early testers. The internal test cycle will focus on refining the trading workflow, capital efficiency,

On May 22, the China Securities Regulatory Commission (CSRC) and eight other Chinese government agencies jointly issued the *Implementation Plan for Comprehensive Rectification of Illegal Cross-Border Securities and Futures Fund Management Activities*. The plan outlines a two-year concentrated rectification campaign, with core objectives: completely banning illegal cross-border operations by overseas securities, futures and fund management institutions, and achieving the rectification goals of "resolutely cracking down on illegal activities and prudently cleaning up existing related businesses". Rectification targets cover multiple parties and activities: 1. Overseas institutions conducting illegal cross-border securities, futures and fund operations; 2. Domestic entities or partners assisting overseas institutions in such illegal cross-border activities; 3. Illegal intermediaries soliciting domestic investors; 4. Internet platforms and online self-media channels illegally distributi

On May 22, Tiger Brokers (TIGR)’ pre-market drop widened to 40%, while Futu Holdings (FUTU)’s pre-market decline extended to 31.78% following an announcement from China’s Securities Regulatory Commission (CSRC) imposing severe penalties on relevant platforms.

On May 22, on-chain sleuth ZachXBT posted in his personal channel that Polymarket’s UMA CTF Adapter contract was reportedly exploited on the Polygon network, with losses exceeding $520,000 as of press time.