每周編輯精選 Weekly Editor's Picks（0523-0529）

郝方舟

Odaily资深作者

@OdailyChina

2026-05-30 03:53

本文約3228字，閱讀全文需要約5分鐘

優質深度分析文章及一週熱點補強。

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核心觀點：本週精選文章聚焦加密貨幣與金融市場的多維度動態：監管收緊終結港美股「灰色開戶時代」，SpaceX世紀IPO為散戶提供Pre-IPO新渠道，傳統機構與鏈上平台在資產代幣化上博弈加劇，同時以太坊隱私功能升級與預言機閃崩事件凸顯技術與安全挑戰。
關鍵要素：
1. 港美股監管：中國內地與香港於5月22日同步發布新規，富途、老虎等四家券商全面停止接受內地新客戶，預計2026年後合規通道將大幅收窄。
2. SpaceX IPO：SPCX股票預計6月12日納斯達克上市，募資高達800億美元，估值達2兆美元，已成歷史最大IPO，多家平台提供散戶Pre-IPO通道。
3. 「幣股」監管拉鋸：SEC推遲代幣化股票豁免，Citadel及SIFMA等傳統勢力反對，憂心流動性碎片化及合規風險，但資產代幣化趨勢已不可逆。
4. Circle戰略轉型：Circle從穩定幣發行商轉型為數位資產基礎設施商，計劃最大化USDC利潤率、推出自有L1網絡「Arc」及搶佔AI支付入口。
5. Hyperliquid閃崩：SpaceX永續合約因預言機錯誤數據閃崩45%，觸發強制平倉，團隊已修復並承諾對受影響用戶賠償。
6. 以太坊隱私需求：ETH行情低迷，隱私幣逆勢走強；開發者加速落地原生隱私功能，否則可能失去作為結算層的競爭力。

The information flow is too fast, making it easy for in-depth analysis articles to be drowned out by hot topics. The "Weekly Editor's Picks" column sifts these valuable insights from the sea of information, helping you filter out the noise, capture the key takeaways, and gain inspiration.

Investment and Entrepreneurship

The "Gray Account Era" for Hong Kong and US Stocks Ends, Where Can Your Money Go?

On May 22, simultaneous regulatory crackdowns in Mainland China and Hong Kong directly ended the "gray channel" for investing in Hong Kong and US stocks, affecting millions of Mainland Chinese investors who use Hong Kong brokers to invest in overseas markets.

Most brokerages have swiftly implemented the new regulations, tightening account openings. Brokers that have completely stopped accepting new Mainland Chinese clients include: Futu Securities, Tiger Brokers, Longbridge Securities, and华盛证券 (Huasheng Securities). All four have closed channels for new account openings. Some existing accounts can still trade normally for now, but are restricted to only selling, awaiting full closure after the 2-year transition period ends.

Hong Kong-licensed brokers that still maintain limited access for Mainland residents include: Yingli Securities (Yingli Securities), Fosun Wealth, and Chefu Securities (Chefu Securities).

Overall, after May 2026, the compliant channels for ordinary Mainland Chinese investors to trade Hong Kong and US stocks will significantly narrow, but not be completely shut down. Based on the current situation, several paths remain viable.

**Safest path:** Compliant identity, compliant capital sources, and a Hong Kong bank account.
**Policy-compliant channels:** Stock Connect (Shanghai/Shenzhen-Hong Kong), QDII, Cross-boundary Wealth Management Connect.
**On-chain path:** Platforms like Hyperliquid and xStocks offer technical alternatives.

SpaceX's Century-Defining IPO Countdown: Which Platforms Allow Retail Investors to "Buy In Pre-IPO"?

On June 12, SpaceX will ring the bell for its IPO on the Nasdaq, under the ticker symbol SPCX. SpaceX is expected to raise between $75 billion and $80 billion, with a target valuation of approximately $1.75 trillion to $2 trillion, making it the largest IPO in human history.

Thanks to the rise of the Pre-IPO market, ordinary people finally have the chance to get in on SPCX early. Odaily examines and compares 7 Pre-IPO platforms currently offering pre-IPO access to SPCX.

After Dell's Surge, Who's Next in the AI Infrastructure Rally?

The AI boom is extending from models and chips to servers, memory, storage, and data center equipment. As tech giants like Alphabet and Amazon continue to increase their AI infrastructure spending, hardware manufacturers like Dell, with strong supply chains, customer relationships, and delivery capabilities, are becoming direct beneficiaries of this new AI capital expenditure cycle.

For investors, Dell's rise signifies that the AI trade is moving further downstream and into more tangible assets: whoever can turn chips into deliverable data center infrastructure may be the next to undergo a valuation revaluation.

Anthropic Aims for $1 Trillion: Beyond Pre-IPO, What Are the Hidden "Claude Concept Stocks"?

Prediction Markets

Raking in 2.4 Million, These 9 Insider Addresses Know the Iran-US War Best

Policy and Stablecoins

SEC Postpones Innovation Exemption for "Tokenized Stocks", Who Is Vehemently Opposing?

The innovation exemption was slammed on the brakes just before the final step. The main opposition comes from Wall Street, specifically traditional powers like Citadel Securities and the Securities Industry and Financial Markets Association (SIFMA).

The core arguments from Wall Street primarily focus on concerns about potential market liquidity fragmentation, fears that tokenized US stocks could threaten traditional compliance defenses, and remaining technological and legal gaps. There are also cautious reservations within the SEC itself.

Essentially, this exemption delay is a fierce clash between the innovative attempts of new forces and the defense mechanisms of the established powers.

The dream of fully liberalizing "tokenized stock" trading might still be a long regulatory tug-of-war away, but the door to asset tokenization has been forced open and is destined never to close again.

Tiger Research: Deep Dive into Circle's Financials, Where is the Next Phase of Crypto Heading?

Marking its Q1 2026 performance as a turning point, Circle is accelerating its paradigm shift – from a pure stablecoin issuer to a comprehensive infrastructure operator in the digital asset industry.

Its forward-looking business strategy revolves around three core pillars: maximizing USDC profit margins and circulation; launching its own L1 network "Arc" to diversify gas and fee income; and seizing the AI payment gateway through its Agent Stack.

Airdrop Opportunities and Interaction Guides

TermMax and Renaiss Gain Traction, How to Participate in These Two YZi Labs-Incubated Projects?

Meme

Behind Binance's "Event Rush" is 42.space, Turning News, Sports, and Prices into Memes

Binance Wallet officially launched a new feature called Event Rush. Users can trade outcome tokens for real-world events like sports matches, cryptocurrency price targets, or news headlines. This feature is powered by the 42.space protocol on BNB Chain. Users can buy event tokens using USDT on BSC and sell them anytime before the event ends or hold until settlement.

42.space and predict.fun are not competing horses but represent two different paths for Binance to bet on prediction markets.

Ethereum and Scaling

Native Privacy Features: Ethereum's Lifeline?

With ETH's price lagging and privacy coins strengthening against the trend, Ethereum developers are rushing to implement native privacy features.

The completely public nature of asset balances and transaction records on the Ethereum chain not only deters institutional investors but also weakens its core competitiveness as the industry's default settlement layer.

Industry insiders say that Ethereum privacy features must be implemented within 12 months; otherwise, it will stagnate at the theoretical research level, allowing competitors to continuously capture traffic and attention.

Security

Flash Crash of 45% in 30 Minutes: SpaceX Investors Get Punched Before the IPO

On the evening of May 28, the SPACEX-USDH perpetual contract on Hyperliquid experienced a severe flash crash. The price dropped from $2,277 to as low as $1,254 in 30 minutes, a decline of nearly 45%, before rebounding to around $2,169.

The incident was caused by erroneous data returned by one of the off-chain data providers serving as an oracle price component, leading to significant volatility in the oracle price and mark price for that market, which triggered liquidations for some users' positions.

The team has since taken measures to prevent similar occurrences. They are also assessing the impact on affected users to formulate an appropriate compensation plan. Affected users will receive compensation within the next 48 hours.

Weekly Hot Topics Catch-Up

Policy and Macro Market

SEC postpones opening up tokenized stock trading;

Hong Kong Monetary Authority (HKMA) requires banks to complete a review of accounts opened with false documents dating back to January 2023 within 3 months;

Iran and the US have reached an agreement on the full reopening of the Strait of Hormuz;

OpenAI and SpaceX line up for IPOs: Wall Street starts "making room" early;

Opinions and Voices

Trump: I saved the US cryptocurrency industry and will build a "future-proof" crypto market structure framework;

The US CLARITY Act could spawn a "Yield-as-a-Service" track, promoting the development of AI-powered compliant yield infrastructure;

Grayscale Vice President: The so-called "10 o'clock sell-off" is not a conspiracy, but the new normal for ETFs;

VanEck CEO: Memory chip stocks are a supply-demand mismatch bubble; most crypto projects will die out in five years;

CryptoQuant Analyst: Bitcoin has entered a risk-aversion phase, ETF demand momentum far below last year's peak;

Bloomberg Analyst: Bitcoin's volatility structure is gradually converging with gold, its asset attributes may change;

Researcher Defends Ethereum Foundation: Its mission is not to "pump ETH," but to make itself gradually irrelevant;

Vitalik publishes article outlining his expectations for Ethereum's future development, revealing that nearly 90% of his personal net worth is in ETH;

Bankless Co-Founder Confession on Dumping ETH: Ethereum did the rightest things, but "ETH is Money" has no future;

Standard Chartered maintains its long-term bullish view on ETH: expects it to reach $4,000 by end of 2026 and rise to $40,000 by 2030;

Polymarket Team angrily calls Kalshi executives "idiots" for criticizing Polymarket's lack of KYC and calling for its shutdown;

Polymarket clarifies that the existing platform will not introduce mandatory KYC;