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President Xi’s reply letter is here ✨ “On May 23, President Xi Jinping replied to students from China and the U.S. who participated in the ‘Sailing for the Blue: China-U.S. Youth Friendship Journey’ program.” High-energy follow-up from the event I filmed last month 🥰 @MFA_China @maoning @ShanghaiEye @oceanx

Say it in one line: why do you love #Binance#? One reason. Could be anything. 30 best selected answers win from a 3,000 USDC prize pool. To enter: 👉 Follow @Binance + RT this 👉 Reply or Quote Tweet with a one-liner 👉 Complete the survey: The best Binance love letters are one line long. 🫡 Contest ends: Jun 2, 23:59 UTC

Chris Hohn did a 90-minute sit-down with Nicolai Tangen and then dropped an investor letter the FT got hold of last week. You’d think the guy who printed a record $18.9B last year would be doing victory laps. Instead he’s quietly rewiring his whole portfolio. My favorite takes from both: 1.The most important thing in investing isn’t growth. It’s barriers to entry. Growth without a moat is the airline industry: 5% volume growth for 100 years and basically zero cumulative profit. 2.There are only about 200 companies on earth he considers high-quality and investable. His fund holds 15. 3.Average holding period: 8 years. Some positions 13. “You have to hold the company forever, because the stock market may be at very bad prices when you want to sell.” 4.His real test for a moat: can the company price above inflation? A 20% margin business that prices 1% above inflation grows profits 5% faster than revenue. Forever. Almost no companies can do this. 5. Industries he won’t touch: banks, autos, retail, insurance, tobacco, asset managers, fossil fuel utilities, airlines, wireless telecom, media, advertising. On banks: “sooner or later someone without a lot of intelligence comes to run them, and then it can be toxic.” 6.On AI generally: call centers go bankrupt. Indian outsourcing coders are next. But for everyone else, AI lowers costs and raises productivity. Companies with real moats become MORE valuable. 7. Here’s the punchline. The FT got hold of his investor letter. He cut his Microsoft stake from 10% of the fund to 1%. Roughly $8B sold. He’d held it since 2017 through a 400% rally. His reason: AI could disrupt Office and Azure faster than the market thinks. 8.He moved that capital into Alphabet. Doubled it from 3% to 5%. Now his largest tech position. The world’s best quality investor sold Microsoft and bought Google because he thinks Google’s moat is more durable in an AI world. Not the consensus trade. 9.The underlying thesis: “AI eats software.” If AI agents do the work humans used to pay per-seat SaaS licenses for, the whole SaaS model gets re-rated. Oracle, Adobe, Salesforce all ~40% off highs. Microsoft 25% off. Market is starting to agree. 10.When to sell? Not when something gets expensive. When conviction drops. Valuation is one variable, conviction is the other. What kills you isn’t being wrong, it’s permanent loss of capital. 11.He admits hardcore activism doesn’t work anymore. Too much of the shareholder base is passive index funds. And even when activism wins, you usually win in a bad business. “The business always wins.” 12.Counterintuitive take: there are more good companies in public markets than in private equity. The best businesses are too big for PE to buy. And when public companies sell something to PE, they’re selling the assets they want to get rid of. 13.On intuition: “thinking without thinking.” Pattern recognition from 20 years of reps. It’s how he sniffed out Wirecard while the German establishment was defending it. “Most investors trust authority too much.” 14.He basically stopped shorting. “You’re going to be eventually right but not be able to fund the losses.” The first guy to short Wirecard had to cover 19 years before it hit zero. Buffett told him he and Charlie studied shorting and concluded it was too hard. 15.He gives almost everything away. ~$500M a year. $10 prevents an unwanted pregnancy in Africa. $40 saves a child from severe malnutrition. $50 prevents permanent blindness. 16.Tangen asks: advice to young people? Hohn, who runs the world’s most profitable hedge fund: “Go on a spiritual path.” The guy who made $18.9B last year ends the interview saying only purpose and meaning matter. The headline: the world’s best quality investor just sold his biggest tech compounder because he thinks AI is breaking the moat. Quietly, with conviction, on an 8-year horizon, while everyone else is still buying the AI winners of 2023.

SOLD Maestro​.trade for $19,988 USD Congrats to the buyer! .TRADE is a top-level domain that surged in popularity in 2025. Now, in 2026, it is a well-established TLD that has expanded into the prediction markets industry – where it feels like a perfect fit and a much stronger branding choice than .MARKETS. .TRADE domains are now being used worldwide across categories such as crypto and DeFi, the aforementioned prediction markets, physical trade, logistics and commodities, brokerages, CFDs and TradFi trading, B2B wholesale and marketplaces, trade finance and compliance, gaming marketplaces, analytics and intelligence, and local and consumer businesses. Here are several companies and projects building their brands on .TRADE: Crypto & DeFi ● Liquid​.trade: Multi-market trading platform for finding opportunities, sizing positions, and executing leveraged trades across web and mobile. ● Drift​.trade: Decentralized on-chain trading platform on Solana for perpetual futures, spot trading, prediction markets, and yield products. ● Axiom​.trade: DeFi trading platform for on-chain crypto markets, offering tools to trade memecoins, perpetuals, and yield products. ● RollX​.trade: Base-native decentralized exchange for spot and perpetual crypto trading, combining self-custody with CEX-like execution and leveraged markets. ● Fly​.trade: Cross-chain DeFi liquidity aggregation protocol that lets users swap crypto assets across multiple blockchains without manually using bridges or DEXs. ● Legend​.trade: Social crypto trading platform where users discover top traders, track live positions, and copytrade directly through the Legend app. ● Catapult​.trade: Crypto token launch and synthetic trading platform where users launch high-volatility tokens, trade provably fair charts, and earn from market volume. ● Phoenix​.trade: Solana-based perpetuals trading platform offering leveraged crypto markets through a decentralized on-chain exchange interface. ● Gains​.trade: Decentralized perpetuals exchange where users trade crypto, forex, stocks, indices, and commodities from their wallet with leveraged on-chain positions. ● Bulk​.trade: High-performance decentralized exchange combining self-custody with CEX-like speed for fast, fair on-chain trading across many markets. ● Vend​.trade: Self-custodial crypto trading platform for buying and selling tokens with simple onboarding, low minimums, and no trading fees. ● Click​.trade: Upcoming crypto trading platform offering Chrome, Telegram, and terminal interfaces for spot and futures trading across web3 markets. ● Paragon​.trade: Crypto trading platform with structured DeFi products and automated strategies for earning yield across on-chain markets. ● Margin​.trade: Upcoming cross-margin trading platform for 24/7 leveraged markets across crypto, commodities, and stocks. ● Private​.trade: Upcoming decentralized trading project positioning itself around privacy-focused market infrastructure. ● Decibel​.trade: Aptos-based decentralized exchange for on-chain perpetuals, bringing fast self-custodial trading and market settlement to DeFi users. ● Ethereal​.trade: Decentralized exchange for spot and perpetuals trading, powered by USDe and built around high-performance on-chain markets. ● Gradient​.trade: Off-market DeFi trading protocol using coordinated order routing and market-maker liquidity to enable price-impact-free token swaps. ● Peanut​.trade: Crypto market-making and TGE services company offering DEX liquidity management, MEV protection, and algorithmic trading strategies. ● Hotstuff​.trade: DeFi Layer 1 for confidential on-chain trading, with perps, spot, and options on one margin account. ● Oku​.trade: DeFi trading platform for swaps, bridges, limit orders, and Uniswap v3 liquidity management across multiple chains. ● Hyena​.trade: USDe-margined perpetuals exchange for trading on-chain markets with capital-efficient collateral, native rewards, and Hyperliquid-powered execution. ● Cro​.trade: Trading app on Cronos offering real-time token swaps, trending token discovery, and portfolio tracking for on-chain users. ● Power​.trade: Crypto options and perpetuals trading platform offering altcoin derivatives markets with mobile and web trading access. ● Fullstack​.trade: Upcoming crypto trading platform positioning itself as an all-in-one front end for on-chain trading. ● Livo​.trade: Ethereum token-launch platform for deploying ERC-20 tokens with bonding-curve pricing, fair launches, instant liquidity, and automatic Uniswap graduation. ● Figment​.trade: AI-powered perpetuals trading platform where users create autonomous trading agents, run strategies, and compete in on-chain trading arenas. Prediction Markets & Event Trading ● Opinion​.trade: Decentralized prediction market platform for creating, trading, and resolving real-world event markets using on-chain infrastructure and AI-assisted oracles. ● Stand​.trade: Prediction market trading platform for discovering strategies, tracking wallets, copy trading, alerts, and automated execution across markets like Polymarket and Kalshi. ● Alphawhale​.trade: Prediction market platform for following top Polymarket traders, tracking whale activity, managing positions, and automating trading strategies. ● Kairos​.trade: Upcoming prediction market platform for trading event-based markets, tracking opportunities, and positioning around future outcomes. ● VDEX​.trade: Zero-knowledge trading platform for crypto, stocks, commodities, FX, and prediction market perps with self-custody and zero gas fees. ● Omen​.trade: Prediction market platform offering funded accounts, market tracking, and trading access across prediction markets, perps, crypto, and equities. ● Alpha​.trade: Upcoming prediction market platform for trading across Kalshi, Polymarket, Manifold, and other markets with AI-powered news and real-time insights. Physical Trade, Logistics & Commodities ● OzaGlobal​.trade: Alaska-based international trade company connecting businesses with Latin American suppliers through sourcing, logistics, customs compliance, and quality control. ● Azurite​.trade: International logistics company transporting metals, raw materials, and oversized cargo through rail, road, ocean, and project freight services. ● Akhdar​.trade: Agribusiness trading company sourcing and supplying grains, oils, and oilmeals across international commodity markets. ● Publiko​.trade: International trade consultancy helping companies with market entry, logistics, incentives, regulatory compliance, and cross-border business development. ● EngineParts​.trade: Slovakia-based exporter of genuine, aftermarket, new, used, and remanufactured engine parts for trucks, buses, agricultural, and earthmoving equipment. Brokerages, CFDs & Traditional Trading ● Upscale​.trade: Web3 prop-trading platform where users complete trading challenges to access simulated funded accounts and keep a share of profits. ● Composer​.trade: Automated trading platform where users build, backtest, and execute algorithmic investment strategies without needing to code. ● Bolt​.trade: Upcoming F&O strategy platform helping traders discover backtested setups with defined entry, target, and stop-loss levels. ● CFI​.trade: Global online broker offering forex, stocks, indices, commodities, ETFs, and CFD trading through multi-asset platforms. ● Hello​.trade: Upcoming trading platform for global access to stocks, commodities, ETFs, crypto, and leveraged perpetuals. ● Versus​.trade: Online CFD broker offering multi-asset trading through MetaTrader 5, including its proprietary Versus Pairs product. ● VaultMarkets​.trade: South African forex broker offering multi-asset trading, account types, education, and MT4/MT5 access for retail traders. ● Arrow​.trade: India-focused ultra-low-latency trading and brokerage platform by iRage Capital for stocks, options, and futures trading. Trade Finance, Capital Markets & Compliance ● Mesh​.trade: Digital capital markets platform for issuing, tokenising, trading, settling, and managing financial assets through blockchain-based market infrastructure. ● Trustnet​.trade: Cargodian compliance platform helping businesses screen partners for KYB, sanctions, UBO, PEP, and supply-chain due-diligence risks. ● 360tf​.trade: Trade finance platform helping businesses and banks manage letters of credit, document checks, working capital, and transaction workflows. Marketplaces, Distribution & Commerce ● Nostra​.trade: European FMCG supplier importing and distributing global-brand coffee, sweets, and beverages through B2B wholesale and export channels. ● Energynat​.trade: European importer and distributor of photovoltaic systems, supplying solar modules, inverters, mounting systems, carports, and related PV equipment. ● Wego​.trade: B2B food and beverage marketplace connecting suppliers, distributors, retailers, and restaurants through online ordering, promotions, and ERP integrations. ● Vilde​.trade: European home and garden brand supplying kitchen, bathroom, storage, decoration, garden, and seasonal products through B2B wholesale channels. ● B2B​.trade: Wholesale marketplace connecting manufacturers, suppliers, distributors, and business buyers across FMCG, apparel, electronics, auto goods, and other categories. ● Oland​.trade: Poland-based distributor of household appliances and consumer electronics, supplying B2B partners with branded products and logistics support. ● Maishima​.trade: Osaka outdoor marché complex near Maishima sports and leisure facilities, featuring food, retail, events, and bike rentals. ● Kitayama​.trade: Japanese importer specializing in premium Argentinian wines, offering direct imports, wholesale partnerships, tastings, and online sales. Gaming, NFTs & Digital Asset Marketplaces ● Tensor​.trade: Solana NFT marketplace and trading platform for buying, selling, bidding on, and managing digital collectibles with pro trader tools. ● ArcRaiders​.trade: Community marketplace for ARC Raiders players to list, discover, and safely trade in-game items, blueprints, and offers. ● Bloxy​.trade: Roblox item marketplace for buying and selling in-game items with automated bots, instant delivery, and secure trading workflows. Data, Intelligence & Trade Analytics ● Cloudcraft​.trade: Crypto trading platform offering whale tracking, liquidity maps, AI analysis, and proprietary indicators for active traders. ● Glint​.trade: Prediction market intelligence platform mapping news, social signals, and OSINT data to Polymarket and Kalshi markets in real time. ● Tina​.trade: UN ESCAP trade intelligence platform helping policymakers analyze tariffs, trade agreements, NTMs, and bilateral flows for trade negotiations. That level of popularity allowed us to aim higher with our .TRADE domains and land sales such as Maestro. .TRADE's strong, descriptive appearance, single-syllable pronunciation, and growing collectible appeal make it a solid choice for trading-related brands. Given the strength and staying power of categories such as crypto, prediction markets, and trading in general, we feel confident that .TRADE domains will continue gaining ground. In our estimation, our top .TRADE domains, such as Zero​.trade, Space​.trade, and Neural​.trade, are already worth six figures. Once again, congrats to the buyer on acquiring Maestro.

On May 21, the 22nd China (Shenzhen) International Cultural Industries Fair (ICIF) kicked off in Shenzhen. The leading roles of the current blockbuster Dear You, Li Sitong, who plays Xie Nanzhi, and Wang Yantong, who plays Zheng Musheng, appeared at a special exhibition zone. The surprise-hit Chinese drama became a massive box office success in China, exploring cross-border family ties, migration, and the historical qiaopi tradition—the practice of sending letters and remittances from overseas Chinese back to their families. #shenzhen# #guangdong# #culture# #fair# #blockbuster# #drama# #letter# #film# #chinese#

40 years ago today Cher made her first appearance on ‘Late Night with David Letterman’. Cher told David she declined to go on the show multiple times, because she thought he was an asshole.

Most people think Burning Man is just about EDM, naked people, and giant art cars. But the thing that really shocked me was the Temple that gets burned on the final night. The Temple isn’t built by the organizers. Hundreds of strangers spend months — sometimes half a year — in warehouses cutting wood, designing structures, fundraising, transporting materials, and then surviving brutal heat and dust storms in the desert, working 10 to 16 hours a day to build it together. And in the end, they burn the whole thing down. What’s even crazier is that many people have been doing this for 10 or 20 years. That’s when I realized: Temple Crew isn’t really a volunteer group. It’s more like a civilization experiment. Because in modern society, almost everything revolves around: money, efficiency, valuation, growth, traffic. But the Temple is the complete opposite: * massive effort * low efficiency * no commercial return * and total destruction at the end And somehow, that’s exactly why it becomes the most meaningful part of Burning Man. People leave behind: photos of loved ones, letters to ex-partners, stories of failed startups, farewell notes, even ashes of family members. Then on Temple Burn night, something strange happens. Tens of thousands of people suddenly become silent. No screaming. No partying. No music. And a lot of people cry. Because what’s really burning isn’t the wood. It’s grief. Regret. Pressure. Old versions of themselves. That’s also why I think the most respected burners are not the people with the biggest RVs or the most money. It’s the people who, at 3AM when something goes wrong, everyone instinctively trusts to help. Now I finally understand why so many people from Silicon Valley, AI, and crypto keep returning to Burning Man every year. Because the desert offers something that modern society is quietly losing: real community, real trust, and large-scale human collaboration that isn’t driven by money.

Dr. Umar Johnson goes off on Shane Gillis, Tony Hinchcliffe, Kevin Hart, and Netflix over jokes they made about Black people on The Roast of Kevin Hart. “You’re gonna make fun about the enslavement of my ancestors, and you’re gonna pass it off as comedy? This was not comedy. This was a public ex-cution of the honor, self-respect, and integrity of Black America and we not going for it.” “This was a get back for Druski portraying as Erika Kirk… If Netflix ever disrespects Black people like this again, you will pay with your pocketbook. I need the Black pastors to send Netflix a letter, I need the Congressional Black Caucus to send Netflix a letter, I need the Divine Nine Black Fraternities and Sororities to send Netflix a letter, I need the Urban League, The NAACP, and every grassroots Black organization, The Black Masons included, send Netflix a letter and tell them, If this ever happens again, Netflix will be cancelled by the Black African race.”

🐸 To @OpenAI's and @AnthropicAI's leadership teams, boards included, I say this personally and with deep gratitude: your remarkable lack of philosophical seriousness has led OpenAI to stand up a $4 BILLION "deployment company" and Anthropic helped stand up a $1.5 BILLION enterprise services venture for poorly documented synthetic systems you continue to market as so-called "AI". But your strategies now show: @ChatGPTapp and @claudeai are not "AI". You've made a market category error. You're now marketing so-called “AI” while building $5.5B in deployment layers around the HUMAN expertise required to make your "AI" accountable to reality. What is synthetic "intelligence" without accountability? 🤔 These ventures validate the HUMAN as necessary for synthetic output to become accountable system-level action. Thus, your new ventures do not compete with advisory firms but with the "AI" sales pitch itself. 🤡 The market can now see orgs should expect to pay intelligent HUMANS to make synthetic outputs accountable. Though that was already true. To meet you in the middle: most "consultants" are economically unjustifiable LARPers. Most "consultancies" are behind the times in ways which will look absurd in retrospect. Hard agree. But the so-called "AI" thing is getting very silly now, isn't it? I'll rephrase: you're telling the public your products are "intelligent" while setting the practical standard that enterprise customers should still pay HUMANS to implement and operate YOUR MACHINES. I appreciate the indirect shoutout, but...that's just a machine. Not "AI". And this is just a first-order inference, on yours truly—pro bono. History has caught up with you, it seems. Listen: in mature industries, labeling actually matters. Intended use actually matters. Post-market stewardship actually matters. Claims about what a product does actually matter. And in MedTech, we figure out pretty quick who are the leaders and who just has an expired badge. The leaders I choose to serve in regulated industries don't get to hand-wave their burdens away with two letters. They have skin in the game. They have GxP regs to follow, and labeling and filing ecosystems to manage. Their products must succeed on technical and ethical merit. And yet, I see them demonstrate, weekly, good faith accountability. As for OpenAI's and Anthropic's leadership, you are not operating at the standard my clients already meet. So, because your customers deserve better, and because serious investors and consultants—myself among them—will earn serious money to close the accountability gap your strategies just made visible, I had to write this down. But I am not the only serious person who will make this inference. I am just the first to confess it. OpenAI receipt: $4B deployment company Anthropic receipt: $1.5B services venture This is only the beginning. It is not "AI." 🐸