EDGEX Short-term Surge Exceeds 6%, Market Cap Surpasses $500 Million
On May 7, cryptocurrency exchange Bithumb announced it would list EDGEX on its Korean won (KRW) market. Following the listing announcement, EDGEX’s price surged more than 6% in a short window, pushing its market capitalization above $500 million.
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a16z Steps Up Its AI and Crypto Game: Launches $2.2 Billion Crypto Fund, Continues to Back AI Startups
**May 7th**
Andreessen Horowitz (a16z) has doubled down on AI and crypto with a flurry of recent moves: it launched a $2.2 billion Crypto Fund 5 and is ramping up bets on AI agents, enterprise automation, and AI content creation.
On May 5, a16z announced its fifth crypto fund—$2.2 billion Crypto Fund 5—to invest in blockchain startups across all stages over the next decade. The firm noted that while some VCs are shifting focus to AI, the crypto industry is at a “historical high,” with priorities on stablecoins, payments, DeFi, prediction markets, and real-world assets (RWA).
Simultaneously, a16z is accelerating AI application-layer investments:
- **Enterprise AI**: Led Series A funding for Tessera Labs, an AI system integration firm that uses a multi-agent system to replace traditional SAP consulting teams. The company claims its 6-person AI team can complete the work of roughly 60 consultants in two years.
- **AI Talent Platform**: Led a $22.75 million Series A round for L
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a16z Invests in AI Content Creation Platform Glif, Positioned as a "Super Agent" in the Creative Field
**a16z Leads Seed Round in Glif, AI’s "Creative Super Agent" Platform**
In an official April 23 announcement (made public May 7), venture firm a16z revealed it led the seed investment in Glif—an AI creation platform positioned as a "super AI agent for the creative field."
Glif aims to unify generative AI tools (images, video, audio, music composition, voiceovers) into one interface, letting users complete end-to-end creative workflows via natural language.
The team notes today’s AI creation ecosystem is overly fragmented, forcing users to switch between multiple products. Glif wants to unify disparate models into a single agent—drawing a parallel to "Claude Code for creative work." Its core feature: "Skills," standardized workflows built from millions of AI creation experiences. These support popular use cases (short videos, AI avatars, infographics, music videos) and let users train personalized styles and processes.
**Founder Backgrounds:**
- Fabian Stelzer: Founded AI
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South Korea Surpasses Canada to Become World's Seventh-Largest Stock Market
May 7 – Surging demand for AI chips has pushed South Korea’s stock market past Canada to become the world’s seventh-largest.
YTD data shows South Korea’s listed firms’ market cap has surged 71% to $4.59 trillion, while Canada’s is up ~7% to $4.5 trillion.
Recently, Samsung Electronics and SK Hynix—both now valued over $1 trillion—have seen their stocks more than double this year. Their leading positions in AI chips have made their products and shares highly sought-after.
South Korea’s KOSPI index is up over 70% YTD, whereas Canada’s benchmark S&P/TSX Composite Index (heavy on resources and financials) has risen just 7%.
“Buoyed by the AI-driven memory chip cycle, South Korea’s stock market cap is likely to keep expanding,” said Ha SeokKeun, CIO at Eugene Asset Management. (Golden Finance)
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France Sends Aircraft Carrier 'Charles de Gaulle' to Red Sea, Plans to Participate in the Strait of Hormuz Escort Operation
**France Deploys Carrier Strike Group to Southern Red Sea for Hormuz Escort Prep**
France announced Wednesday local time it has deployed its **Charles de Gaulle aircraft carrier strike group** to the southern Red Sea, preparing for a potential future mission escorting vessels through the Strait of Hormuz. The task force includes an Italian warship and a Dutch frigate.
The country noted the ongoing Hormuz blockade continues to harm the global economy, calling the risk of escalation "unacceptable." It is pushing a **European-led neutral escort plan** and urging the U.S. and Iran to accept a mediation proposal.
Under France’s proposal:
- Iranian vessels would remain allowed to transit the strait.
- Iran would commit to U.S. talks on nuclear issues, missiles, and regional matters.
- The U.S. would lift the blockade.
- France plans to coordinate a multinational force for safe ship escorts.
The French military said the deployment aims to:
- Assess the regional operation
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Fosun FinTech's subsidiary, "Fosun AlphaFish," has launched a physical gold token product, with underlying support from AlphaToken
On May 7, Yunfeng Financial (00376.HK) subsidiary Yunfeng Yoyow officially launched its "Physical Gold Token" product, available exclusively to accredited professional investors.
Backed by AlphaToken’s blockchain and real-world asset (RWA) tokenization infrastructure, the offering aims to deliver compliant gold digital asset allocation services for professional investors.
Each token is fully collateralized by 1 gram of LBMA-certified gold with 99.99% purity. The underlying gold is stored in an internationally accredited vault, with transparency and security ensured via independent audits and a full-reserve custody framework.
AlphaToken noted its AlphaChain network and RWA tokenization system—built on proprietary infrastructure—integrate KYC, AML, asset issuance, auditing, and risk control processes. This enables licensed financial institutions to issue and manage assets on-chain.
Yunfeng Financial described the launch as a key milestone in its RWA initiatives. The firm plan
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