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BlockBeats news, on May 13, Wednesday, data was released showing that the U.S. April PPI skyrocketed by 1.4% month-over-month, with the March numbers also revised up to a growth of 0.7%. This increase is the largest since March 2022, with both goods and services prices rising, while the market was only expecting 0.5%, the same as the initially reported figure for March.

Since the beginning of this year, producer prices have been on the rise, partly due to increased energy costs, and the Middle East conflict disrupting transportation through the Strait of Hormuz, which has impacted global supply chains and led to shortages of fertilizers, aluminum, and various consumer goods. The PPI increased by 6.0% year-over-year, marking the largest rise since December 2022, significantly higher than March's 4.0%. This is partly due to the lower base effect from last year gradually exiting the statistical range, pushing up the current year-over-year reading. The spread of inflation is intensifying, posing a greater challenge for the Fed. (Jin Shi)

Original Author: Andrew Ng, Co-founder of Coursera
Original Translation: Deep Tide TechFlow

Editor’s Note: Andrew Ng is firing back at the narrative that 'AI will cause mass unemployment' in his latest piece. His main argument is that software engineering is the sector most affected by AI, but hiring demand remains strong; the unemployment rate in the U.S. holds steady at a healthy 4.3%. AI labs, SaaS companies, and businesses laying off employees all have their reasons to exaggerate AI's replacement capabilities. The value of this article lies in its source—someone who not only propels AI development but also focuses on making AI education accessible.

(Note: Andrew Ng is a globally renowned AI scientist, educator, and entrepreneur, affiliated with Stanford University as an adjunct professor. He co-founded the Google Brain team and served as Baidu's Chief Scientist, playing a pivotal role in the widespread application of deep learning. He also co-founded Coursera and DeepLearning.AI, making outstanding contributions to global AI talent development.) Here’s the original content:

BlockBeats news, on May 13, Delphi Digital stated that Strategy has been raising funds over the years by issuing stock at a premium and cheap convertible bonds. Now, this window has essentially closed.

Common stock issuance is constrained by the adjusted market net asset value (mNAV), the issuance of new convertible debt has been paused, and STRC has become the primary funding channel. A yield of 11.5% reflects the cost at a lower tier of the capital structure. The repayment order of STRC is behind convertible bonds and preferred stock, so holders are compensated for taking on the impairment risk avoided by the debt layer.

Crypto trader Jez today announced his new protocol PaperTrade developed on HyperEVM, sparking lively discussions in the English crypto community.

Jez is a long-time evangelist for perpetual contracts, having heavily invested in Hyperliquid early on, with his account address ranking high on the airdrop leaderboards for Lighter and Variational. This time he's going all in, launching a Perp DEX with no fees, no slippage, and no funding rates.

Old-school casino on the blockchain

The mechanism of PaperTrade has a disreputable predecessor in financial history. In the early 1900s, bucket shops in small-town America displayed signs of brokerage firms, with real-time NYSE quotes chalked up behind the counter, but customers’ orders never left the owner's drawer. It was essentially a gamble between the customer and the owner. This business was banned by New York state legislation in 1909 and largely disappeared by the 1920s.

BlockBeats news, on May 13, the U.S. Senate Banking Committee will hold a committee review of the (Cryptocurrency Market Structure Bill), known as the CLARITY Act, on May 14 (Thursday) at 10:30 AM ET. This is a crucial step in the legislative process, and if passed, the CLARITY Act will move on to a full Senate vote.

Aave founder Stani Kulechov posted that the latest revision of the (CLARITY Act) is vital for DeFi, as it will provide clearer legal protections and developer safeguards for DeFi builders in the U.S. If the U.S. wants to stay ahead in the DeFi space, the regulatory framework must allow developers to build and maintain decentralized protocols rather than imposing unenforceable obligations suited for centralized models on DeFi developers. He believes that if the U.S. successfully establishes this framework, other regions around the globe might follow suit. He also noted that, compared to yield issues, the more significant impact of the (CLARITY Act) might be to bring new tailwinds to DeFi, similar to how the (GENIUS Act) pushed stablecoin development.

BlockBeats reports that on May 13, Bitwise's Chief Investment Officer, Matt Hougan, stated that recently, Circle's Arc, Canton Network, and Stripe-backed Tempo have collectively raised over 1 billion USD in funding aimed at stablecoins and asset tokenization blockchains, highlighting three structural shifts in the crypto space. Hougan pointed out that, firstly, there is a growing institutional demand for on-chain privacy. Arc, Canton, and Tempo all emphasize native transaction privacy, unlike Ethereum and Solana, which are inherently public and transparent. He believes that fully public on-chain data could become a burden in scenarios like corporate cash flow and payroll, which is why institutions are pushing for more privacy-oriented blockchain infrastructure suitable for financial operations.