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According to CoinDesk, Drift Protocol has announced a user recovery plan for the approximately $295 million security breach on April 1, attributed to a North Korean-backed hacker group.The core of the recovery plan is to issue receipt tokens representing verified user losses, with each token representing $1 of verified loss, which holders can redeem based on the value of the recovery pool accumulated over time. The initial funding for the recovery pool is approximately $3.8 million, and it is expected to grow through exchange revenue of up to $127.5 million, Tether support, and up to $20 million from partners, until it covers the total loss of approximately $295.4 million.Drift has frozen about $3.36 million USDC and launched a public bounty to recover 10% of the assets. Drift plans to relaunch on a "security-first" exchange in the second quarter. Legal recovery efforts are still ongoing.

According to CoinDesk, Angus Fletcher, head of digital assets at State Street Bank, stated at the Consensus Miami conference that in light of the recent surge in DeFi attack incidents, institutional investors are looking for improvements in blockchain security. He pointed out that the young crypto industry needs to find solutions now before trillions of dollars in real-world assets are put on-chain.Fletcher believes that the interoperability between blockchains needs to be clearly defined and understood, and institutional clients need to understand the legal ownership and rights of cross-chain tokens. Dennis Bree, head of Morpho, stated that April could be the month with the most hacker attacks in DeFi history, and regulators are conducting more due diligence on the security of collateralized assets.

According to The Block, Michael Selig, chairman of the Commodity Futures Trading Commission (CFTC), stated that the CFTC is considering establishing rules to solidify its protective stance towards non-custodial software developers. In March of this year, the CFTC issued a no-action letter regarding the cryptocurrency wallet Phantom, indicating that it would not take enforcement action for not being registered as a broker and clarified that eligible self-custody wallet software developers do not need to register as brokers. Selig mentioned that the CFTC is seeking to formally incorporate this stance into rulemaking.Additionally, Selig reiterated that prediction markets fall under the exclusive jurisdiction of the CFTC and that it will continue to sue states that violate federal jurisdiction. The CFTC has previously sued Wisconsin, Illinois, Arizona, Connecticut, and New York.

According to Coinglass data, the current 8-hour average funding rate for BTC across the network is -0.0075%. Among the current mainstream exchanges, the rate on Binance is -0.0092%, OKX is 0.0001%, Bybit is -0.0091%, and Gate is -0.0089%.

According to Coinglass data, the current 8-hour average funding rate for ETH across the network is -0.0032%. Among the current mainstream exchanges, the rate on Binance is -0.0065%, OKX is 0.0009%, Bybit is 0.0009%, and Gate is -0.0077%.

According to Coinglass data, the current 8-hour average funding rate for BTC across the network is -0.0073%. Among the current mainstream exchanges, the rate on Binance is -0.0083%, OKX is -0.0025%, Bybit is -0.0028%, and Gate is -0.0141%.

According to The Block, Bitcoin mining company IREN Limited has agreed to acquire cloud infrastructure software company Mirantis for approximately $625 million in an all-stock transaction to enhance its AI cloud business layout.This acquisition will bring critical software and "orchestration" capabilities to IREN, helping it better monetize its expanding GPU and data center resources. Mirantis focuses on Kubernetes-based cloud infrastructure tools that enable automated deployment, scaling, and management of containerized applications.Analysts point out that the transaction values Mirantis at about 4 to 5 times its revenue, aimed at helping IREN catch up with AI cloud competitors like CoreWeave and build a complete "full-stack new cloud" capability.This merger is also an important step for IREN in its transformation from a Bitcoin mining company to an AI infrastructure platform. Previously, the company had raised approximately $3.6 billion through equity and convertible bond financing to expand its GPU and data center capacity, with total construction investments expected to exceed $9 billion. After the transaction is completed, Mirantis is expected to operate as an independent subsidiary.

After WLFI filed a lawsuit against Sun Yuchen yesterday, Vincent Chok, the founder of FDT (First Digital Trust), spoke out today, stating that WLFI is not the first target publicly attacked by Sun Yuchen, as FDT has been entangled in litigation with him for over a year.Vincent Chok stated that in the past 12 months, Sun Yuchen has made public accusations against FDT, but has yet to provide any substantial evidence. During this time, Sun Yuchen has publicly offered rewards for so-called "internal evidence" twice, with the amount increasing from $50 million to $100 million, and as of now, no one has claimed the reward.

Digital payment company PayPal (PYPL) announced its Q1 2026 financial report, with net revenue of $8.35 billion, exceeding market expectations of $8.05 billion; adjusted earnings per share were $1.34, higher than the estimated $1.27.However, the company provided cautious guidance for Q2, expecting adjusted earnings per share to decline by about 9% quarter-over-quarter, with guidance set at $1.34. It also provided full-year guidance for fiscal year 2026, with adjusted earnings per share of $5.32 and revenue of $34.06 billion.Affected by the Q2 guidance falling short of expectations, PayPal's stock price briefly dropped over 10% during trading, but the decline has since narrowed to about 8%.

According to The Block, Coinbase announced a seven-figure strategic investment in Centrifuge and selected it as the main asset tokenization collaboration platform for its public chain Base.Under the partnership, Centrifuge will become the core infrastructure for issuing tokenized assets on Base, supporting the on-chain and trading of real-world assets (RWA) including ETFs, credit funds, and structured products. The two parties already have a foundation for collaboration, including the launch of the first compliant on-chain S&P 500 index fund on Base.Coinbase stated that the choice of Centrifuge is based on its advantages in institutional-grade infrastructure, compliance capabilities, and scalability. The platform provides a complete solution from asset structure design, tokenization tools to yield interfaces and compliance support. This collaboration is seen as an important step for Coinbase to strengthen its asset tokenization strategy, with potential future expansion to more high-liquidity traditional financial assets.

According to official news, Circle announced that it has submitted a comment letter to the Office of the Comptroller of the Currency (OCC) regarding the implementation rules of the GENIUS Act, outlining 6 core points:The U.S. standard should become the global benchmark: Strengthen international trust and institutional export capability of the U.S. dollar stablecoin;Stablecoins should serve as a unified payment tool: Avoid market fragmentation that affects liquidity and settlement efficiency;Consumer protection is paramount: Ensure that holders can redeem assets at face value at any time;Fair competition regulatory framework: Banks and non-bank issuers should be under the same regulatory boundary;Strengthen systemic risk management: Cover liquidity, credit, operational, and compliance risks;Distinguish between stablecoins and tokenized deposits: The functions of the two are different and should be regulated separately.

According to SolanaFloor, the on-chain reinsurance company OnRe Finance has completed a $5 million financing round, led by Forward and Rockaway. The funds will be used to accelerate the development of on-chain reinsurance business on the Solana network.Forward plans to deploy up to $25 million in OnRe's ONyc token to gain exposure to tokenized reinsurance returns.

According to Coinglass data, the current whale holdings on the Hyperliquid platform amount to $4.337 billion, with long positions at $2.186 billion, accounting for 50.42% of the holdings, and short positions at $2.15 billion, accounting for 49.58%. The profit and loss for long positions is $73.8136 million, while for short positions it is -$10.3 million.Among them, the whale address 0xa5b0..41 has a 15x leveraged long position on ETH at a price of $2265.48, currently showing an unrealized profit and loss of $4.9045 million.

According to Decrypt, as the price of Bitcoin rises to around $81,000, its perpetual contract 30-day average funding rate has been negative for 66 consecutive days, setting a record for the longest duration this decade. Data shows that in a negative funding rate environment, shorts need to pay fees to longs, with the current annualized cost around 12%. Nevertheless, Bitcoin's price increased by about 12% in April, while open interest (OI) grew by about 12%, indicating that the market has not experienced typical panic short-selling.Analysts point out that this phenomenon mainly stems from institutional hedging behavior rather than pure bearish sentiment, including hedge funds shorting futures during redemption cycles, basis trading strategies (going long on related stocks while shorting Bitcoin), and mining companies hedging their Bitcoin assets as they shift to AI computing business.Historical data indicates that buying Bitcoin during similar negative funding rate phases has a probability of achieving positive returns within a 90-day period ranging from 83% to 96%. The market generally believes that if the price effectively breaks through the key resistance level of around $82,000, it may trigger a short covering rally, pushing the price further up; conversely, it may retreat to oscillate in the range of $70,000 to $75,000.

According to Fortune, the AI agent platform Nova Intelligence announced the completion of a $31.5 million Series A funding round, led by Chemistry, with participation from Accel, Conviction, and SAP's venture capital arm SAP.io.The AI platform built by Nova is used to analyze, modernize, and generate custom code that operates the payroll, supply chain, and financial functions of Fortune 500 companies.

According to The Block, CoinShares released a report showing that last week, global crypto asset ETPs recorded a net inflow of $117.8 million, achieving a fifth consecutive week of net inflows, with a cumulative inflow of over $4 billion in five weeks and a total management scale of approximately $155 billion. However, the funding structure has shown significant differentiation.The report pointed out that from Monday to Thursday, there was a total net outflow of $619 million, but on Friday, a large inflow of $737 million was recorded in a single day, reversing the week to a net inflow, reflecting a significant rebound in market risk appetite before the weekend. From a regional perspective, net inflows in the U.S. market dropped to $47.5 million, a significant slowdown compared to the previous week's $1.1 billion; Germany and Canada recorded inflows of $43.8 million and $16 million, respectively, with European funds performing relatively steadily.In terms of assets, Bitcoin-related products led the way with a weekly inflow of $192.1 million, of which the U.S. spot ETF contributed approximately $162.8 million; Ethereum products, on the other hand, saw a net outflow of $81.6 million. Analysts believe that the number of participating assets has decreased from 9 to 4, indicating that market sentiment weakened significantly in the middle of the week before showing signs of recovery.

According to an official announcement from Animoca Brands, the company announced that it will invest up to $10 million in teams building projects using its AI agent platform, Minds.Minds is a continuously running AI agent platform that allows users to deploy and manage "sovereign" AI agents without the need to operate local servers or manage hardware and software.

According to The Block, venture capital firm Andreessen Horowitz's crypto branch a16z crypto has completed fundraising for its fifth fund, totaling $2.2 billion. This fund is smaller than the record $4.5 billion raised for the fourth fund in 2022.a16z crypto communications partner Paul Cafiero stated that the company intends to return to a smaller fund size because "a shorter fundraising cycle allows us to keep up with the rapidly changing crypto trends." The previous fund sizes for a16z crypto were $2.2 billion for the third fund in 2021, $515 million for the second fund in 2020, and $350 million for the first fund in 2018.a16z crypto also announced the promotion of CTO Eddy Lazzarin to general partner (GP), making him the fourth general partner alongside Chris Dixon, Ali Yahya, and Guy Wuollet.a16z crypto noted that while the market is in a relatively calm phase, adoption signals are improving, pointing out that the use of stablecoins continues to grow, and the application of blockchain in capital markets is becoming increasingly widespread, including perpetual contracts for price discovery, prediction markets for information aggregation, and on-chain lending for stablecoin credit markets. The company also cited the GENIUS Act as an example of a clearer regulatory framework, maintaining a "hopeful and optimistic" attitude towards the Clarity Act passed this year. The fund will focus 100% on investments in the crypto space and will not expand into adjacent areas such as AI or robotics.a16z crypto has previously invested in projects such as Coinbase, Uniswap, Solana, Kalshi, Anchorage Digital, and Phantom. Other crypto venture capital firms have also been active recently, with Haun Ventures completing fundraising for its second fund of $1 billion earlier this week, Dragonfly recently completing its fourth fund of $650 million, and Paradigm reportedly seeking up to $1.5 billion for a broader fund, while Blockchain Capital is also raising approximately $700 million.

According to Forbes, SBF's early investment portfolio is being re-evaluated by the market, with some opinions suggesting that if he had not been imprisoned due to the FTX collapse, his venture capital layout could theoretically yield a wealth increase of up to about $100 billion.Before the FTX collapse, SBF had established an investment landscape covering several star companies, including Anthropic, SpaceX, Robinhood, and the AI programming tool Cursor, which was considered to have significant foresight.Industry insiders pointed out that he had bet on key tracks ahead of the AI wave, among which: Cursor recently reached a partnership with SpaceX, with a valuation potentially reaching $60 billion, and Anthropic's valuation is nearing $90 billion. Rory O'Driscoll, a partner at Scale Venture Partners, stated that SBF had laid out investments in several core AI companies before ChatGPT, "demonstrating a rare investment sensitivity." However, this "investment talent narrative" was ultimately completely altered by the FTX collapse.SBF is currently serving a 25-year sentence for misappropriating over $8 billion in customer funds. At his peak, his personal wealth reached about $24 billion, and he made it onto the Forbes 400 list. Today, his venture capital capabilities are intertwined with his history of financial crime, making him one of the most controversial cases in cryptocurrency history.

According to Cointelegraph, Coinbase CEO Brian Armstrong stated that due to market conditions and the company's transition to an AI-native architecture, Coinbase is laying off about 14%.