Daily Report | Binance will launch KernelDAO (KERNEL) Megadrop on April 9; U.S. SEC announces agenda for cryptocurrency roundtable on April 11
April 8 News OverviewOrganizer: Jerry, ChainCatcher
Important News:
- US SEC Announces Agenda for April 11 Crypto Trading Roundtable
- WLFI New Proposal Plans to Test Airdrop Feature, Aiming to Distribute Small Amounts of USD1 to All Holders
- Nigerian Court Postpones Binance Tax Evasion Case Hearing to April 30
- Vitalik Outlines Ethereum's Long-Term Goals: Achieving L1-L2 Native Communication within 12 Seconds, Advancing Unified System Architecture
- Binance to Launch KernelDAO (KERNEL) Megadrop on April 9
- Zhao Changpeng Calls Pakistan an "Active Crypto Market," Giggle Academy Project Benefits Education Popularization
- Binance to Delist First Batch of 14 Tokens Decided by Vote on April 16
- Sun Yuchen Releases FDT's "Seven Deadly Sins," Including Breach of Fiduciary Duty, Misuse of Customer Funds, etc.
"What Important Events Happened in the Last 24 Hours"
US SEC Announces Agenda for April 11 Crypto Trading Roundtable
According to the SEC's official website, the U.S. Securities and Exchange Commission (SEC) Crypto Special Working Group will hold a public roundtable titled "Between Blocks and Dilemmas: Tailored Regulation for Crypto Trading" on April 11 from 1:00 PM to 5:00 PM EDT (April 12, 1:00 AM to 5:00 AM Beijing Time) at its headquarters in Washington, D.C., with an online live broadcast. The meeting will be hosted by Goodwin Procter partner Nicholas Losurdo, with executives and experts from institutions such as Uniswap Labs, Coinbase, and NYSE participating. SEC Commissioner Hester Peirce stated that this series of meetings aims to promote clarity in crypto regulation.
The Trump family's crypto project World Liberty Financial has released a governance proposal to airdrop a small amount of stablecoin USD1 to all $WLFI holders through an on-chain system, to test its airdrop functionality and thank early supporters.
The airdrop will take place on the Ethereum mainnet, with the specific distribution amount to be determined based on the number of eligible wallets and budget. The company reserves the right to adjust or terminate the airdrop at any time.
Nigerian Court Postpones Binance Tax Evasion Case Hearing to April 30
A Nigerian court has postponed the hearing of the tax evasion case against Binance to April 30, to allow tax authorities to respond to Binance's legal motions. The Nigerian Federal Inland Revenue Service accuses Binance of failing to pay corporate income tax and penalties for 2022 and 2023, totaling over $79 billion. Binance questions the legality of the court's delivery of legal documents via email, claiming its headquarters is in the Cayman Islands and has no physical presence in Nigeria.
Ethereum co-founder Vitalik Buterin stated at the "Web3 Scholars Summit 2025" in Hong Kong that Ethereum's long-term goal is to achieve 12-second-level native asynchronous communication between L1 and L2, reducing bridging delays and costs.
To this end, he proposed a "four-step" plan: including a "ZK+TEE+OP two out of three" design, asynchronously reading L1 through L1SLOAD, a unified proof integration mechanism, and deploying low-latency validators. He emphasized that in the future, users can still use intent models for faster or better cost experiences, but the underlying communication system will trend towards low-cost and high-coupling.
Binance to Launch KernelDAO (KERNEL) Megadrop on April 9
Binance is launching the fourth phase of the Megadrop project KernelDAO (KERNEL), a re-staking protocol supporting products like Kernel, Kelp, and Gain. Users can participate in the KERNEL Megadrop starting from April 9, 2025, at 08:00:00 (UTC+8). The KernelDAO (KERNEL) Megadrop App page is expected to go live approximately twelve hours after this announcement.
Binance will list KernelDAO (KERNEL) on April 14, 2025, at 20:00 (UTC+8), and open trading markets for KERNEL/USDT, KERNEL/BNB, KERNEL/USDC, KERNEL/FDUSD, and KERNEL/TRY, subject to seed tag trading rules.
Former Binance CEO Zhao Changpeng stated that Pakistan is the fifth most populous country in the world, with an average age of 24 and 100% internet coverage, making it an active crypto market.
He pointed out that about 20 million children in the country are out of school and stated that the Giggle Academy project could help them gain education and employment opportunities.
Binance to Delist First Batch of 14 Tokens Decided by Vote on April 16
According to Binance's announcement, the platform will delist 14 tokens including BADGER, BAL, BETA, CREAM, CTXC, ELF, FIRO, HARD, NULS, PROS, SNT, TROY, UFT, and VIDT on April 16, 2025.
This delisting is based on the results of the "voting delisting" and evaluations of project team activity, liquidity, transparency, and other criteria. Binance reminds that other tokens not selected in the first batch may still be removed in the future for not meeting standards.
Sun Yuchen posted on social media the "Seven Deadly Sins" of First Digital Trust (FDT), including: breach of fiduciary duty, misuse of customer funds, unlicensed investment activities, fraud or theft, false reporting or information concealment, violation of anti-money laundering (AML) regulations, and violation of Hong Kong's POBO regulations. The specific content is as follows:
Sin 1: Breach of Trust Duty
According to Hong Kong's Trust Ordinance (Chapter 29), trustees must act with care, diligence, and loyalty. Misappropriating customer funds violates Section 4 (reasonable care obligation) and trust principles. Clearly, FDT will bear liability for compensation and damages in civil litigation.
Sin 2: Misuse of Customer Funds
The Securities and Futures (Client Money) Rules (Chapter 571) stipulate that custodial funds must not be used for the custodian's own purposes. Customer assets must be held in segregated accounts, and unauthorized withdrawals are strictly prohibited. By transferring TUSD funds to ARIA DMCC without proper authorization, FDT faces enforcement actions, including fines, license revocation, or criminal prosecution.
Sin 3: Unlicensed Investment Activities
Although FDT is registered as a Trust or Company Service Provider (TCSP), it has no SFC license to conduct regulated activities on behalf of clients. Its so-called investment activities involving TUSD assets in ARIA directly violate the provisions of the Securities and Futures Ordinance, which prohibits engaging in regulated activities without a license.
Sin 4: Fraud or Theft
Misappropriating funds with the intent to deceive clients constitutes fraud or theft. FDT colluded with accomplices (such as Aria CFF, Truecoin (Alex De Lorraine), Crossbridge/Finaport (Yai Sukonthabhund)) to cover up misappropriation through forged records and falsely claimed to have made investments.
Sin 5: False Reporting or Information Concealment
To cover up misappropriation or unauthorized transactions, FDT provided false statements and fraudulent documents, claiming that TUSD funds were intact and invested as instructed. This violates Section 300 of the Securities and Futures Ordinance (using fraudulent or deceptive means in securities transactions).
Sin 6: Violation of Anti-Money Laundering (AML) Regulations
By transferring misappropriated funds through complex transactions or offshore accounts to conceal their source, FDT facilitated and/or constituted a violation of anti-money laundering regulations.
Sin 7: Prevention of Bribery Ordinance (POBO)
The Prevention of Bribery Ordinance is the main regulation governing secret commissions in Hong Kong. It criminalizes corrupt transactions, including agents receiving undisclosed benefits or commissions without the principal's consent. FDT/Legacy, under the direction of Vincent Chok, received secret kickbacks from DMCC in exchange for the illegal transfer of TUSD custodial funds.
"What Interesting Articles Are Worth Reading in the Last 24 Hours"
In-Depth Profile of Paradigm Co-Founder Matt Huang: What Should a Great Founder Be Like?
Legendary investor Michael Moritz described Matt Huang's departure as "the only regrettable loss in Sequoia's history."
We are witnessing the collapse of a typical major monetary, political, and geopolitical order.
Reviewing the History of Crypto Market Crashes: Every Panic Claims It's the Last One
A comprehensive comparison of historical crashes.
Crypto Billionaires Toast Together, Resolving $1 Billion Grievances with Crypto Circle Rules
A photo circulated at the conference shows Sun Yuchen and Li Lin embracing and drinking "cross-cup wine."
Meme Popularity Ranking
According to the meme token tracking and analysis platform GMGN, as of April 8, 19:50:
The top five popular Ethereum tokens in the past 24 hours are: REMUS, ROMULUS, Woody, PANICAN, ROMULUS
The top five popular Solana tokens in the past 24 hours are: IVABKA, PIPE, REVS, REMUS, BOOBCOIN
The top five popular Base tokens in the past 24 hours are: TOSHINME, DRB, SKITTEN, VIRTUAL, EURC
