Press Release
Glory Star expected to further increase profitability
Glory Star New Media Group, a Nasdaq-listed digital media platform and content-driven e-commerce company in China, is expected to be able to further increase its profitability with its growing market share and economy of scale.
The company reported a 15.8% growth in its Non-GAAP net income to US$16.9 million for the six-months ended June 30 from US$14.6 million in the same period of last year.
During the first half of this year, the company’s total revenues grew 144.6% to US$71.9 million from US$29.4 million, thanks to the increase in advertising revenues and Cheers e-Mall marketplace service revenue, primarily attributable to the development and promotion of its mobile and online businesses.
Income from operations surged 40.9% to US$16.2 million from US$11.5 million.
During the first half year of 2021, the company successfully grew its top and bottom lines as it allocated more resources to sales and marketing to augment its brand equity and fuel its long-term growth engine.
The company’s rising economy of scale will allow it to gradually reduce operating expenses and capitalize on the rising popularity of video content and deliver lasting shareholder value.
At the end of June 30, the number of downloads of the company’s Cheers App reached 215.6 million, up from 121 million a year earlier. The increase in the number, a key indicator of the attractiveness and usability of its Cheers App and its e-Mall platform traffic, showed that it had successfully converted viewers of its content to its Cheers App.
Average daily active users (DAUs) of the app grew to 7.1 million from 4.5 million for the same period. Stock Keeping Units (SKUs) on its Cheers e-Mall platform jumped to 231,630 from 19,984.
Gross Merchandise Value (GMV) of the Cheers App reached US$181.2 million in the first six months of this year, compared with US$20 million in the same period of 2020. The increase in GMV was driven significantly by its ability to attract and retain users to its Cheers App through its professionally produced content and its ability to further enhance its product offerings.
The company has a strong commitment to its corporate mission, meticulous execution of growth strategies, methodical expansion in both overseas and domestic markets, proactive engagement of Generation Z users through innovative products, and prudent investment in sales and marketing initiatives. It plans to refine its competitive edge in content-driven e-commerce of premium lifestyle, deepen our expertise in integrating quality content with lifestyle commerce, and expand our brand influence among Generation Z consumers on a global basis.
During the first half year, the resurgence of Covid-19 and its Delta variant caused the Chinese government to impose travel restrictions within mainland China, particularly in the southern regions of the country.
The company temporarily suspended the production of its traditional “Cheers Series” TV programs, thus resulting in a decline in its cost of revenues during the first six month of 2021. Once the travel restrictions are eased, the company will resume its content production activities in the second half of this year.
As of June 30, 2021, the company had cash and cash equivalents of US$20.3 million, compared with US$17.7 million at the end of last year.
Blockchain and AI technologies
Since its establishment in 2016, Glory Star has pioneered a unique, new business model integrating e-commerce services with premium video content. With the use of blockchain and AI technologies in its systems, the company has become a leading online digital media and entertainment company in China, with a strong track record both in terms of viewership and production capabilities. The company launched its Cheers App in 2018 to integrate e-commerce services with professionally generated content (PGC).
During the first half, the company produced many more live streaming shows and started to provide title sponsor advertising services at a higher price point. It also spent substantially on the development of the Cheers Chat and Cheers Car.
The company plans to provide more user-generated content (UGC) by forming partnerships with other platforms. It will allow global users to upload their content to its video platforms in the fourth quarter of this year while users will receive advertising revenue or get rewards from viewers directly.
The company will also allow content providers to use its software-as-a-service (SaaS) supply chain system with the blockchain technology that will help them match with relevant merchandisers. Content providers will be able to share the revenue from the sales of products on their video accounts.
The company’s ability to integrate premium lifestyle content, including short videos, online variety shows, online dramas, live streaming, its Cheers lifestyle video series, e-Mall, and mobile app, along with innovative e-commerce offerings on its platform enables it to pursue its mission of enriching people’s lives.
Its large and active user base has created valuable engagement opportunities with consumers and enhanced platform stickiness with thousands of domestic and international brands.
Non-fungible token
Glory Star’s Naschain platform offers one-stop solutions, which include smart contract, multichain universe and cross-chain consensus mechanisms, to users with its blockchain technology. It can help e-shoppers trace the origins of the products, avoid buying counterfeit goods, lower their logistics costs and protect their privacy.
The company has signed an agreement with the Beijing Minsheng Art Museum to use the company’s non-fungible token (NFT) technology, which can be used in copy-rights’ registration, verification, transaction and valuation, to protect the intellectual property of the museum’s artworks. The company will be able to boost its market share by acquiring some NFT service providers.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
Giggso Introduces Raven, Andie, and AIRTaaS to Help Enterprises Bring Discipline, Reasoning, and Security to AI Adoption
TROY, Mich., May 26th, 2026, ZEX PR WIRE — Enterprises are moving faster with AI than ever before. But many are also quietly losing comprehension of the systems they are building.
Engineering teams now generate code, workflows, automations, and AI-driven decisions at unprecedented speed using tools like Claude, Codex, Cursor, and enterprise copilots. While productivity has increased, organizations are also experiencing a new operational challenge: more meetings, fragmented workflows, inconsistent outputs, security concerns, architecture drift, and growing difficulty understanding how systems actually work together.
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Giggso calls this problem “comprehension debt” — the growing gap between AI-generated velocity and organizational understanding.
Today, Giggso announced Raven, Andie, and AIRTaaS, three offerings designed to help enterprises reduce comprehension debt and bring discipline, reasoning, and continuous security testing into AI adoption at scale.
Together, the offerings form the front door into GSD (Giggso Security Domain), Giggso’s broader architecture for governing, securing, and operationalizing enterprise AI systems.
“At a small scale, AI feels magical,” said Ravi Venugopal, Founder and CEO of Giggso. “At enterprise scale, it can quickly become operational chaos. Teams move faster, but understanding drops. Meetings increase. Ownership blurs. AI starts producing more than organizations can realistically comprehend or govern. That is the problem we are solving.”
At the center of the announcement is Raven, Giggso’s discipline layer for AI-assisted software development.
Raven is designed to help organizations enforce engineering discipline inside AI-driven development workflows before problems reach production. Rather than acting as a traditional code scanner after development is complete, Raven introduces governance, architecture awareness, policy enforcement, and review controls directly into AI-assisted coding environments.
The platform helps organizations identify risks such as:
- architecture drift
- unapproved libraries
- exposed secrets
- policy violations
- insecure dependencies
- undocumented AI-generated logic
- uncontrolled AI usage patterns
The goal is not to slow development, but to preserve organizational understanding as teams move at AI speed.
“AI can now generate code faster than teams can comprehend it,” Ravi said. “Without discipline, enterprises accumulate technical debt, security exposure, and operational confusion at machine speed. Raven helps organizations preserve engineering quality and architectural understanding while still moving fast.”
Giggso also introduced Andie, a structured reasoning engine designed to help enterprises improve contextual thinking and operational decision-making across teams.
Unlike traditional chatbot-style AI interfaces that generate isolated answers, Andie is designed to help organizations reason through problems with context, constraints, and multiple perspectives in mind. The platform is intended to support operational workflows across delivery, strategy, planning, support, and execution environments.
Giggso believes one of the biggest failures in enterprise AI adoption is not a lack of intelligence, but a loss of shared understanding.
“Most organizations do not need another chatbot,” Ravi said. “They need systems that help teams think more clearly together. AI should reduce confusion, not multiply it. Andie is designed to strengthen organizational reasoning, preserve context, and reduce the fragmentation that happens when every team operates with disconnected AI outputs.”
To address the growing security risks around enterprise AI adoption, Giggso is also expanding AIRTaaS, its AI Red Teaming as a Service platform.
As enterprises deploy AI agents, copilots, retrieval systems, and autonomous workflows into production, traditional security testing approaches are increasingly insufficient. AI systems can fail through prompt injection, hallucinations, role-boundary violations, tool misuse, unsafe autonomy, data leakage, and adversarial manipulation.
AIRTaaS continuously stress-tests AI systems against these real-world failure scenarios before they become operational incidents.
The platform combines:
- AI red teaming
- observability
- governance workflows
- incident tracking
- remediation guidance
- human-led adversarial testing
To strengthen its execution capabilities, Giggso has partnered with Seiance India, a woman-owned AI security startup based in Chennai, India, whose product, Trinity, is an AI security and observability platform.
“AIRTaaS turns AI security into an operational discipline instead of a compliance checkbox,” said Abhinaya, CEO of Seiance India P Ltd.
“Enterprises need continuous stress testing because AI systems are constantly evolving. Our focus is helping organizations identify weaknesses early, validate resilience continuously, and improve trust in production AI systems.”
Giggso also announced that portions of AIRTaaS and related tooling will be free for Individual Developers, while core Enterprise developer-focused red teaming capabilities will be low-cost and easy to certify for teams.
The company said the decision reflects a growing concern about “AI washing” — where organizations overstate AI capabilities without sufficient operational rigor — and the rise of “AI slop,” low-quality AI-generated outputs that appear acceptable on the surface but fail under real operational conditions.
“We believe AI adoption needs more honesty, more discipline, and far more operational accountability,” Ravi said. “The future belongs to organizations that can scale AI without losing security, comprehension, governance, and trust in the process.”
Raven, Andie, and AIRTaaS are part of GSD (Giggso Security Domain), Giggso’s enterprise architecture for governing AI systems, coding workflows, observability, orchestration, reasoning, and AI operational security across the enterprise.
More information is available at Giggso
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
Caladan Launches API Liquidity: Institutional Access to Aggregated Digital Asset Liquidity Across 100+ Tokens
Singapore, May 26th, 2026, ZEX PR WIRE — Institutional counterparties can now access executable streaming prices and RFQ liquidity for spot and perpetuals on 100+ digital assets through the Caladan API, launched today by Caladan, the largest Asia-headquartered market maker for digital assets.
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Built on nearly a decade of active trading, Caladan continuously aggregates pricing and depth from 20+ on-chain protocols, 47+ centralised exchange integrations, and bilateral relationships. The result is a single pricing feed that delivers tighter spreads, higher fill rates, and full depth on long-tail tokens.
“Fragmentation is the defining liquidity challenge in digital assets today. A single exchange, a single counterparty, or a single OTC desk will always have an incomplete view of price and depth. We have spent nine years building the infrastructure to see the whole market simultaneously, and API Liquidity makes that infrastructure available to institutional participants through a single API connection.” – John Gu, CEO, Caladan
Why aggregation produces better pricing
Digital asset liquidity is highly fragmented across centralised exchanges, decentralised protocols, regional venues, bilateral broker-dealers, and OTC desks. Caladan’s sourcing model is the commercial differentiator. The firm facilitates over $170 billion in annual trading volume across more than 100 assets, which means its pricing engine is continuously calibrated against a wider range of market signals. The more heterogeneous the sourcing — on-chain, off-chain, bilateral, and platform-routed simultaneously — the tighter the spread and the deeper the available size at any given price point.
The broadest token coverage of any market maker
API Liquidity provides access to the top 100 tokens — the widest token coverage available from any market maker globally. Coverage spans spot and perpetuals.
For institutional participants managing diversified digital asset portfolios or building crypto-embedded products, this breadth eliminates the need to maintain multiple liquidity provider relationships to cover the full token universe.
Flexible connectivity and settlement
API Liquidity is designed for immediate integration with minimal development overhead. Counterparties can connect through the channel that fits their existing workflow:
-
Direct API: Native FIX connectivity (4.2, 4.4, 5.0) for firms that prefer a direct bilateral connection
-
Platform partners: Desks already connected to Talos, Finery Markets, or CrossX can access Caladan liquidity with no additional integration work
Settlement is handled through institutional partners, with options for fiat and stablecoins:
-
Hidden Road and BitGo Go Network for custodial settlement
-
Customers Bank CUBIX for fiat settlement in USD
-
USDT and USDC settlement available directly
Competitive credit and margin terms are available for qualifying counterparties. Fiat currency pairs including EUR and JPY are in development, with additional currencies in the pipeline.
About Caladan
Caladan is Asia’s largest digital asset market maker, headquartered in Singapore with teams across seven global offices. Since 2017, Caladan has facilitated over $170 billion in annual trading volume, operating across 65+ exchanges worldwide. The firm provides market-making, OTC trading, DeFi expertise, and investments to institutional participants globally.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
Caladan Launches API Liquidity: Institutional Access to Aggregated Digital Asset Liquidity Across 100+ Tokens
Singapore, May 26th, 2026, ZEX PR WIRE — Institutional counterparties can now access executable streaming prices and RFQ liquidity for spot and perpetuals on 100+ digital assets through the Caladan API, launched today by Caladan, the largest Asia-headquartered market maker for digital assets.
1.png)
Built on nearly a decade of active trading, Caladan continuously aggregates pricing and depth from 20+ on-chain protocols, 47+ centralised exchange integrations, and bilateral relationships. The result is a single pricing feed that delivers tighter spreads, higher fill rates, and full depth on long-tail tokens.
“Fragmentation is the defining liquidity challenge in digital assets today. A single exchange, a single counterparty, or a single OTC desk will always have an incomplete view of price and depth. We have spent nine years building the infrastructure to see the whole market simultaneously, and API Liquidity makes that infrastructure available to institutional participants through a single API connection.” – John Gu, CEO, Caladan
Why aggregation produces better pricing
Digital asset liquidity is highly fragmented across centralised exchanges, decentralised protocols, regional venues, bilateral broker-dealers, and OTC desks. Caladan’s sourcing model is the commercial differentiator. The firm facilitates over $170 billion in annual trading volume across more than 100 assets, which means its pricing engine is continuously calibrated against a wider range of market signals. The more heterogeneous the sourcing — on-chain, off-chain, bilateral, and platform-routed simultaneously — the tighter the spread and the deeper the available size at any given price point.
The broadest token coverage of any market maker
API Liquidity provides access to the top 100 tokens — the widest token coverage available from any market maker globally. Coverage spans spot and perpetuals.
For institutional participants managing diversified digital asset portfolios or building crypto-embedded products, this breadth eliminates the need to maintain multiple liquidity provider relationships to cover the full token universe.
Flexible connectivity and settlement
API Liquidity is designed for immediate integration with minimal development overhead. Counterparties can connect through the channel that fits their existing workflow:
-
Direct API: Native FIX connectivity (4.2, 4.4, 5.0) for firms that prefer a direct bilateral connection
-
Platform partners: Desks already connected to Talos, Finery Markets, or CrossX can access Caladan liquidity with no additional integration work
Settlement is handled through institutional partners, with options for fiat and stablecoins:
-
Hidden Road and BitGo Go Network for custodial settlement
-
Customers Bank CUBIX for fiat settlement in USD
-
USDT and USDC settlement available directly
Competitive credit and margin terms are available for qualifying counterparties. Fiat currency pairs including EUR and JPY are in development, with additional currencies in the pipeline.
About Caladan
Caladan is Asia’s largest digital asset market maker, headquartered in Singapore with teams across seven global offices. Since 2017, Caladan has facilitated over $170 billion in annual trading volume, operating across 65+ exchanges worldwide. The firm provides market-making, OTC trading, DeFi expertise, and investments to institutional participants globally.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
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