Golden Web3.0 Daily | Huawei Announces the Semiconductor Tautology

DeFi Data

1. Total Market Cap of DeFi Tokens: $61.69B

DeFi total market cap Data source: CoinGecko

2. Trading volume on decentralized exchanges in the past 24 hours: $8B

Trading volume on decentralized exchanges in the past 24 hours Data source: CoinGecko

3. Assets Locked in DeFi: $8B

Top ten DeFi projects by locked assets and locking amounts Data source: DefiLlama

NFT Data

1. Total Market Cap of NFTs: $8B

NFT total market cap and top ten projects by market cap Data source: CoinMarketCap

2. 24-hour NFT trading volume: $8B

NFT total market cap and top ten projects by market cap Data source: CoinMarketCap

Headlines

Huawei Announces the Tao (τ) Law of Semiconductors

On May 25, according to People’s Daily, the 2026 International Circuit and System Seminar was held in Shanghai. Huawei’s Board Director and President of Semiconductor Business, He Tingbo, delivered a keynote titled “Exploration and Practice of New Paths in Semiconductors,” where he officially announced the “Tao (τ) Law.” This is the first time China has proposed a new guiding principle for industry development in the global semiconductor field. Based on this law, Huawei has successfully designed and mass-produced 381 chips over the past six years. This fall, Huawei will release a new Kirin mobile chip, fully adopting logic folding technology to significantly enhance performance.
“The Tao Law” proposes replacing “geometric scaling” with “time micro-optimization,” aiming to systematically reduce the time constant (τ) through innovations like logic folding, continuously compressing signal propagation delays, increasing transistor density, and driving the ongoing evolution of semiconductors and electronic systems. The law establishes a multi-level collaborative optimization system spanning devices, circuits, chips, and systems. By 2031, high-end chips based on this law are expected to reach transistor densities comparable to 1.4nm process technology.

AI Hot Topics

1. Yushu Technology’s Sci-Tech Board IPO to be reviewed on June 1

On May 25, the Shanghai Stock Exchange’s Listing Review Committee will hold its 31st review meeting in 2026 to consider the initial public offering of Yushu Technology Co., Ltd.

2. Anthropic Co-founder: AI achievements may be monopolized by developed countries for the long term

On May 25, Anthropic co-founder Olah stated that AI achievements could be monopolized by developed countries for a long time, and the lack of a sharing mechanism for global poor countries is an “unsolved problem.”

3. Bitwise Advisor: The crypto industry is in a “narrow window” similar to AI in 2015

On May 25, Bitwise advisor Jeff Park published an article explaining his bullish view on the crypto industry. He compares the current situation to the AI field around 2015. At that time, Jensen Huang had been betting on GPU parallel computing and CUDA for years, Elon Musk had also recognized AI’s potential, but it was still a decade away from mass adoption.
Jeff Park cited Musk’s statement at GTC 2015 about autonomous driving: solving for 0-10 mph and above 50 mph is relatively easy, but the hardest part is the “middle zone” of 10-50 mph. He believes the crypto industry is currently in this stage: the fundamental value of permissionless currencies is understood (0-10 mph), the ultimate state of on-chain capital markets is clear (50 mph+), but the biggest hurdle now is that institutional infrastructure remains stuck in the pre-internet era, with AML/KYC compliance, offshore capital channels, bank risk models, and lagging reporting mechanisms forming the “middle zone” resistance.
He also distinguished the essential difference between Bitcoin and other cryptocurrencies: Bitcoin is a currency experiment driven by technological evolution, while most other crypto projects are technological experiments driven by currency evolution. In his view, the ultimate ideology that will win in the crypto space is not decentralization itself, but “technological financialization”—focusing on hyper-financialization, exporting sovereign finance, intelligent infrastructure, and self-sovereignty as public goods.

4. OpenAI IPO expectations push SoftBank’s stock to new highs

On May 25, SoftBank’s stock price hit a record high, with the market betting that if its holdings in OpenAI and SB Energy go public, it could bring huge returns. Since May 20, SoftBank’s stock has risen by 40%, with a market cap surpassing 40 trillion yen ($252 billion). The recent two-day surge was driven by reports that OpenAI is preparing to file for an IPO in the coming days. SB Energy, an electric power infrastructure company, also plans to secretly file for an IPO in the U.S. As OpenAI appears to be approaching IPO, concerns about competitors like Anthropic, Google, and xAI threatening OpenAI’s position have eased. Takashi Nakagawa, senior analyst at Tokai Tokyo Intelligence Laboratory, said the market is “very excited that the long-awaited OpenAI IPO may finally become a reality.” He believes this will improve transparency in the currently opaque valuation of AI companies. SoftBank’s portfolio includes many non-listed startups driven by AI.

5. MoonPay launches exclusive app for ChatGPT, allowing users to buy crypto within conversations

On May 25, according to Decrypt, MoonPay launched an exclusive app within ChatGPT, enabling users to directly purchase cryptocurrencies like Bitcoin, XRP, Solana, and USDC inside the OpenAI chatbot. Users can ask ChatGPT for crypto information, then request a specific amount to buy, and ChatGPT will generate a MoonPay checkout link. Users need to complete standard KYC and connect their wallets.
MoonPay blockchain engineer said ChatGPT is becoming an entry point for financial research, and the crypto purchase feature has been missing until now. This app is part of MoonPay’s expansion into AI-driven crypto tools; earlier this month, MoonPay acquired AI trading startup Dawn Labs and launched the trading assistant Dawn CLI.
Arifin noted that chatbots like ChatGPT are becoming new gateways to the internet.

DeFi Hot Topics

1. Ethereum spot ETFs saw a net outflow of $216 million last week, with BlackRock’s ETHA experiencing the largest outflow of $189 million

On May 25, according to SoSoValue data, last week’s trading days (May 18-22, Eastern Time) saw a net outflow of $216 million from Ethereum spot ETFs.
The ETF with the largest net outflow was BlackRock’s ETHA, with a weekly net outflow of $189 million. Its total net inflow since inception is $11.62 billion. The second largest was Fidelity’s FETH, with a weekly net outflow of $21.1 million, and a total net inflow of $2.18 billion.
The ETF with the largest weekly net inflow was BlackRock’s ETHB, with $5.52 million, and a total net inflow of $518 million.
As of press time, the total net asset value of Ethereum spot ETFs is $11.84 billion, with an ETF net asset ratio (market cap relative to Ethereum’s total market cap) of 4.73%. The total net inflow since inception has reached $11.62 billion.

2. Analysis: Ethereum’s market cap share declines, signaling a structural shift in the market

On May 25, according to BIT analysis, during the 2020-2021 bull market, smart contract platforms were widely expected to reshape parts of traditional financial infrastructure and processes. However, high expectations did not materialize, and Ethereum’s market cap share in the digital asset ecosystem has continued to decline. Currently, ETH’s market cap share has fallen below 10%, more than halving compared to two years ago. This indicates ETH’s relative position in the crypto market is weakening. For investors heavily holding ETH, this trend warrants caution. The continuous decline in ETH’s market share suggests funds are flowing into other narratives or ecosystems. If this trend persists, ETH may continue to face pressure and remain relatively weak.

3. Vitalik: The Ethereum Foundation is not the central manager of the ETH ecosystem, future development will shift toward “small and long-term”

On May 25, Ethereum founder Vitalik posted on X (Twitter) sharing his views on the future direction of the Ethereum Foundation.
First, he emphasized that this is just his personal opinion. The board is not only him, and he does not have more special power than other directors. Aya Miyaguchi is leading most of the transformation efforts, and his own involvement is more focused on technical issues. The board is also expanding, and his influence within the organization will continue to decline—which he actually welcomes.
Vitalik stated that the Ethereum Foundation should not be “the center of Ethereum,” but rather “a node with clear responsibilities, existing alongside other nodes.” They have always said this, but many in the ecosystem, even some within the Foundation, want the Foundation to be the true center. Now, they are taking concrete steps to ensure it becomes the latter.
This is especially important because the Foundation is inherently resource-limited and organizationally limited. It currently holds only about 0.16% of all ETH, even less than many large ETH holders; many other blockchain projects’ “central foundations” control 10-50% of tokens.
The current decision is for the Foundation to use its remaining resources to pursue “long-term sustainability,” rather than continuous expansion.
The Foundation will focus on tasks critical to making Ethereum a: censorship-resistant, control-resistant, open, private, and secure system—tasks that no one else will do if not them. This requires tough choices. Some projects and respected individuals they highly value may no longer belong to the Foundation’s sphere in the future.
In fact, if they want important tasks to attract external capital, it’s necessary to leave some talented people, influential public figures, and mission-aligned CROPS advocates outside the Foundation.
Finally, Vitalik said that from a financial perspective, the most valuable “product” of the Ethereum blockchain is actually ETH itself. Currently, Ethereum protects about $250 billion worth of ETH, and those features are very important for ETH’s value.
He revealed that about 90% of his net worth is in ETH, with most of the rest in about $40 million of on-chain fiat funds, all allocated to open-source biotech, software, or hardware projects.
However, he also emphasized that some work necessary to support ETH’s value goes beyond the Foundation’s responsibilities. They need other “heroes” in the ecosystem to step up, some of whom even hold more ETH than the Foundation.
He said the Foundation has been thinking about how to collaborate with these organizations and provide initial support.
In conclusion, he stated that the future Foundation will be smaller but more principled; in some aspects, its stance may even be hard to understand. But it will be more long-term oriented, better suited to ensuring ETH ultimately brings meaningful value to the world.

4. Polkadot OpenGov proposes requiring validators to stake at least 10k DOT

On May 25, Polkadot announced on X that OpenGov is voting on a major change to the network staking architecture. Proposal 1890 suggests that validators on Polkadot must lock at least 10k DOT as self-stake. This reform is a mandatory prerequisite for the next phase of staking upgrades, including nominator immunity from slashing and rapid unbonding (about 24-48 hours instead of 28 days). The logic is to allow validators to directly absorb slashing risks through significant self-stake exposure, while nominators can continue earning staking rewards without risking their principal. If approved, this will eliminate two major barriers to participation, reducing nominator risk and shortening exit times.

5. Squid clarifies security incident: vulnerability stemmed from third-party Safe module, core protocol unaffected

Cross-chain liquidity protocol Squid issued a statement regarding today’s security incident involving approximately $3.2 million. The attack was unrelated to Squid’s core protocol and contracts; all users and integrations remain unaffected, and no action is required.
Squid explained that the exploit involved a third-party Gnosis Safe module deployed on Base and Ethereum networks, verified on Basescan as “SquidRouterModule.”
However, this contract was not developed, deployed, or operated by Squid, nor is it the official Squid Router contract. It is a third-party smart wallet product integrating protocols like Squid. The attack originated from a serious validation flaw: the contract uses a fixed string provided by the caller as a “security message,” which can be directly obtained from verified contract code, allowing attackers to execute arbitrary calldata and steal funds.

Disclaimer: As a blockchain news platform, GoldFinance’s articles are for informational purposes only and do not constitute investment advice. Please establish correct investment concepts and be aware of risks.