News linked to both this project and an event.
Odaily News Wall Street investment bank Jefferies' analysis indicates that the approximately $293 million attack on Kelp DAO on April 18 exposed critical infrastructure risks, which may prompt traditional financial institutions to reassess the pace of blockchain and tokenization advancement.Jefferies believes the attacker triggered market sell-offs and liquidity stress by minting unbacked tokens and borrowing across platforms. The incident is suspected to be potentially linked to the Lazarus Group and also highlights the single point of failure in the validation mechanisms of cross-chain bridges. As institutions accelerate the tokenization of assets (such as funds, bonds, and deposits), related risks may cause some banks and asset management firms to temporarily pause deployments, prioritizing a review of system security. Especially in scenarios reliant on cross-chain infrastructure, security vulnerabilities could lead to market fragmentation, undermining the practical utility of tokenized assets.Despite short-term confidence being shaken, Jefferies still emphasizes that the long-term trend remains unchanged. Against the backdrop of regulatory progress and continuous infrastructure improvement, use cases like stablecoins still hold growth potential. However, the industry as a whole is still in its early development stage and requires time to enhance system robustness. (CoinDesk)
According to CoinDesk, U.S. Representatives have introduced the “PACE Act,” aimed at modernizing the U.S. payment system. The bill would allow qualified companies direct access to the Federal Reserve’s payment rails to reduce payment delays, lower transaction fees, and accelerate fund transfers for consumers and businesses. The report notes that the proposal has garnered support from fintech and cryptocurrency groups, with the goal of making the payment system faster, lower-cost, and more competitive.
According to CoinDesk, custody provider Fireblocks will handle the issuance and distribution of the Qivalis consortium’s euro-pegged stablecoin. The project is expected to launch in the second half of 2026, under supervision by the Dutch Central Bank and in compliance with the EU’s Markets in Crypto-Assets Regulation (MiCA). Qivalis members include 12 European banks, such as BBVA, BNP Paribas, ING, and UniCredit. The report notes that the current stablecoin market size stands at approximately $30.5 billion, of which about 99% consists of U.S. dollar–pegged stablecoins, while euro-pegged stablecoins account for roughly $650 million. Qivalis aims to boost institutional adoption of euro stablecoins through a compliant product.
Odaily News Grayscale has updated its ETF application document linked to Hyperliquid, changing the custodian to Anchorage Digital Bank, replacing Coinbase which previously served as the prime broker and custodian.This adjustment has garnered significant attention, as Coinbase has long dominated the crypto ETF custody space. Currently, almost all U.S. spot Bitcoin ETFs (except Fidelity's) rely on its custody services.The filing shows that The Bank of New York Mellon will continue to serve as the transfer agent for this ETF (proposed ticker GHYP). The fund's staking functionality still requires regulatory approval and will utilize CoinDesk's Hyperliquid benchmark pricing data.Furthermore, Anchorage Digital Bank, as the first federally chartered crypto bank in the U.S., has been continuously expanding its institutional service capabilities in recent years, including areas such as stablecoins, wealth management, and token lifecycle management. (The Block)
According to CoinDesk, Coinbase is exploring collaboration with Bybit on tokenization, custody, and global distribution of assets such as U.S.-listed equities and pre-IPO shares. Sources familiar with the matter said negotiations are ongoing and do not involve equity acquisition or similar transactions by Bybit aimed at entering the U.S. market. Separately, reports indicate that Bybit’s plan to enter the U.S. market will be advanced through a new entity led by former Co-CEO Helen Liu, which will bring in an undisclosed local partner to provide licensing and compliance support, while Bybit will supply technology, products, and liquidity.
According to CoinDesk, Liz Truss—former UK Prime Minister and the shortest-serving in British history—said in an interview that the UK economy is on a “very negative trajectory,” with high taxation, excessive regulation, and energy costs making entrepreneurship “a risk rarely worth the reward.” She attributed inflation and wealth inequality to “currency devaluation” and noted that discussions about monetary policy within government have become “taboo”—a phenomenon she described as “quite alarming.” Truss said she is “very interested” in Bitcoin, viewing it as a vital tool for countering currency devaluation and resisting centralized financial control. She revealed she first encountered Bitcoin during her tenure as Chief Secretary to the Treasury. She is now actively building CPAC UK and plans to host a three-day conference bringing together entrepreneurs and activists to advance a movement for “sovereignty and freedom,” declaring outright: “There are only two options—either sink or radically transform.”
According to CoinDesk, French Finance Minister Roland Lescure publicly stated on April 17 that Europe needs more euro-denominated stablecoins and strongly encouraged EU banks to explore launching tokenized deposits. Lescure explicitly backed the Qivalis consortium—a group of 12 European banks including BBVA, ING, UniCredit, and BNP Paribas—that plans to launch a euro-pegged stablecoin in the second half of 2026, aiming to counter U.S. dominance in digital payments. He also noted that the current scale of euro-pegged stablecoins remains far smaller than that of dollar-pegged stablecoins—a situation he described as “unsatisfactory.” This statement marks a clear departure from France’s previous hardline regulatory stance: former Finance Minister Le Maire had declared that private stablecoins “have no place in Europe,” while Bank of France Governor Villeroy de Galhau has repeatedly warned that stablecoins pose risks of monetary privatization.
According to CoinDesk, Drift Protocol—the largest decentralized perpetual futures exchange on Solana—announced it has secured up to $147.5 million in funding from Tether and its partners (including $127.5 million from Tether and $20 million from other partners) following a hack that stole over $270 million. The funds will be used to restore user assets and relaunch the protocol. The attack was carried out on April 1 by a North Korea–linked group that had posed as a quantitative trading firm and infiltrated the protocol for approximately six months, causing the DRIFT token’s value to plummet roughly 70%. The funding structure combines revenue-linked credit, ecosystem subsidies, and market-maker loans, aiming to cover approximately $295 million in user losses. Upon relaunch, the protocol will replace USDC with USDT as its core settlement layer; Tether will simultaneously provide fee waivers, user incentives, and liquidity support.
According to CoinDesk, JPMorgan Chase released a research report stating that legislative negotiations for the U.S. CLARITY Act are nearing completion, with contentious issues reduced from over a dozen to just “two or three remaining items.” Discussions regarding stablecoin rewards have also entered a constructive phase. The bill aims to clarify the regulatory framework for digital assets, delineate responsibilities between the SEC and the CFTC, and establish compliance pathways for stablecoins and DeFi platforms. The latest proposal is expected to garner support from both the crypto industry and traditional financial institutions. However, the official text of the bill has not yet been published, nor has a vote been scheduled. Moreover, if Democrats regain control of the House of Representatives in the 2026 midterm elections, the priority for crypto-related legislation may decline, introducing uncertainty into the bill’s progress.
According to CoinDesk, Adam Back, CEO of Blockstream, stated at Paris Blockchain Week that Bitcoin developers should move forward early with optional post-quantum upgrades—even though practical quantum computers remain far from realization. He noted that Taproot’s flexible design supports integrating new post-quantum signature schemes without affecting existing users. Previously, Jameson Lopp and others proposed BIP-361, aiming to phase out quantum-vulnerable addresses over five years and freeze bitcoins in addresses that fail to complete the migration. Adam Back believes the Bitcoin community can rapidly coordinate a response in an emergency—without needing to predefine freezing arrangements.
Odaily News Ripple announced a partnership with South Korea's major insurance institution, Kyobo Life Insurance, to explore government bond tokenization settlement based on the Ripple Custody platform. The goal is to compress the T+2 settlement cycle for South Korean government bonds to near real-time execution. Both parties stated that they will focus on evaluating the technical and regulatory feasibility of tokenized government bond settlement. Specific transaction scale, launch timeline, and bond types involved have not been disclosed yet, and the overall initiative is still in the pilot exploration phase. Additionally, Kyobo Life will also explore stablecoin-based payment solutions, but specific currencies and implementation timelines have not been clarified. (CoinDesk)
According to CoinDesk, UK-based asset manager Legal & General Asset Management has tokenized over £50 billion in liquid funds via Calastone’s tokenized distribution network. The firm now offers money market funds on this network in the form of tokenized shares, supporting USD, EUR, and GBP, with capabilities spanning issuance, trading, and same-day settlement. Investors can purchase, hold, and transfer these tokenized shares within a permissioned, regulated network. The relevant funds will be deployed on Ethereum and compatible blockchains, with plans to expand to additional networks in the future.
Odaily News TeraWulf announced the issuance of 47.4 million shares at $19 per share, raising approximately $9 billion to fund the construction of a large-scale data center campus in Hawesville, Kentucky, repay bridge financing, and support future expansion. Affected by the equity dilution from the financing, the company's stock price fell by about 5.8% during the trading session. The company also disclosed preliminary performance for the first quarter of 2026, expecting revenue to be between $30 million and $35 million, with approximately $3.1 billion in cash on hand and total debt of about $5.8 billion.TeraWulf's management pointed out that high-performance computing (HPC) hosting revenue now accounts for over half of its income, surpassing Bitcoin mining revenue for the first time, driving a shift in its revenue structure towards more stable, long-term cash flows. Analysts believe that while this financing round brings equity dilution, it helps support the expansion of AI infrastructure and enhances visibility for future growth. Overall, this move reflects the industry trend of mining companies accelerating their shift towards AI and high-performance computing to reduce reliance on Bitcoin price volatility and improve profitability stability. (CoinDesk)
According to CoinDesk, Wall Street brokerage Bernstein released a research report stating that prediction market trading volume is expected to grow from $5.1 billion in 2025 to approximately $100 billion in 2030, representing a compound annual growth rate (CAGR) of roughly 80%. Trading volume is projected to reach $24 billion in 2026, while Polymarket and Kalshi combined have already generated $60 billion in trading volume year-to-date. The report identifies three core drivers of this growth: increasing regulatory clarity at the federal level, blockchain infrastructure enabling global liquidity, and integration with mainstream trading platforms. Industry revenue is expected to rise from approximately $400 million in 2025 to about $10.8 billion in 2030. Distribution capability is viewed as a key competitive barrier. Robinhood has achieved an annualized revenue run-rate of $350 million from prediction markets and is advancing its exchange infrastructure development; Coinbase, meanwhile, offers nationwide access to over 1,000 contracts via the Kalshi platform. Bernstein maintains an “Outperform” rating on both companies.
Odaily News Bitcoin contributor Jameson Loop and other cryptographers have proposed an initiative that could force Bitcoin holders to migrate their tokens to new quantum-resistant addresses, otherwise their tokens would be permanently frozen by the network itself. In this scenario, holders would technically still "own" the coins but would lose the ability to transfer them. This is known as Bitcoin Improvement Proposal BIP-361, which was updated in Bitcoin's official proposal repository on Tuesday under the title "Post-Quantum Migration and Legacy Signature Deprecation".BIP-361 builds upon the BIP-360 proposal introduced in February. BIP-360 introduced a soft fork (a network upgrade) designed to enable a new transaction type called "Pay-to-Merkle-Root" (P2MR). This method draws from Bitcoin's Taproot (P2TR) framework but removes the key-based spending path, thereby eliminating an element widely considered to be at risk in the quantum era.The BIP-361 proposal divides the migration into three phases. Phase A begins three years after activation, prohibiting anyone from sending new Bitcoin to legacy, quantum-vulnerable addresses. You can still spend from these addresses but cannot receive any coins.Phase B begins five years after activation, rendering legacy signatures (ECDSA and Schnorr) completely invalid. The network will reject any attempts to spend coins from quantum-vulnerable wallets. Essentially, your coins will be frozen.Finally, there is Phase C, a still-under-research rescue plan: holders of frozen wallets may be able to prove ownership via zero-knowledge proofs (a method of proving knowledge of a secret without revealing the secret itself). If successful, coins frozen in Phase B could be recovered. (CoinDesk)
Odaily News: Digital asset trading platform Gate has released its March 2026 Transparency Report. Centered around its Intelligent Web3 strategy, the platform is accelerating the construction of an AI product matrix with Gate for AI, GateClaw, GateAI, and GateRouter at its core, and is driving the deep integration of AI technology into its trading ecosystem. Gate AI already covers over 80 application scenarios, including market analysis, strategy assistance, and investment research support, and is gradually penetrating into high-frequency trading and investment research processes, becoming a key driver for the platform's capability upgrades.In terms of business data, Gate's TradFi segment achieved a single-day trading peak exceeding $20 billion, with asset coverage surpassing 350 types, and 174 new listings added in the month, making it a core engine for growth. According to CoinDesk data, the platform's user base has exceeded 51 million, with its derivatives market share rising to 12.2%, setting a new historical high. Its spot trading volume remains firmly in second place globally, with liquidity consistently ranking in the top three, and both trading depth and activity levels have improved simultaneously. Gate's institutional business has also performed exceptionally well, being rated as the "Best Institutional Trading Platform" in the BeInCrypto rankings. Leveraging approximately 2-millisecond low-latency matching, deep liquidity, a multi-asset system, and combined with its SuperLink cross-market accounts and third-party custody partnerships, the platform has further enhanced capital efficiency and security. Through the synergistic upgrade of its AI product matrix and multi-asset trading capabilities, Gate continues to strengthen its leading position in the global trading and institutional services arena.
According to CoinDesk, Jeremy Barnum, Chief Financial Officer of JPMorgan Chase, stated during the company’s first-quarter earnings call that stablecoins—offering bank-like products without being subject to regulatory and consumer protection standards equivalent to those applied to bank deposits—could evolve into tools for “regulatory arbitrage.” He emphasized that if stablecoin issuers allow users to earn interest on reserve assets, this would create a business model similar to banking but lacking capital, liquidity, and safeguarding requirements, resulting in unfair competition. Barnum noted that JPMorgan supports the establishment of a clearer U.S. regulatory framework for digital assets and related yield-bearing products, though he stressed that consistency is more important than speed. Currently, JPMorgan is modernizing its payments business through its blockchain division, Kinexys, which has launched JPM Coin and tokenized deposits. Data shows JPMorgan’s net income for the first quarter rose 13% year-on-year to $16.49 billion.
According to CoinDesk, researchers from the University of California, Santa Barbara; the University of California, San Diego; blockchain security firm Fuzzland; and World Liberty Financial jointly published a paper warning that “LLM routers”—intermediary services positioned between users and AI models—have become a major threat to cryptocurrency asset security. The researchers discovered that 26 LLM routers are secretly injecting malicious tool calls and stealing user credentials, with one incident resulting in the complete draining of a customer’s cryptocurrency wallet worth $500,000. Additionally, by “poisoning” the router ecosystem, the researchers were able to gain control of approximately 400 downstream hosts within hours. Since sensitive data—including private keys and API credentials—is frequently transmitted in plaintext through these routers, users unknowingly expose their assets to risk. The researchers note that as McKinsey forecasts AI agents will mediate $3–5 trillion in global consumer commerce by 2030—and Binance founder Changpeng Zhao predicts AI agents’ payment volume will be one million times greater than that of humans—the current infrastructure’s security lags far behind the pace of industry development. The “weakest link” risk could thus trigger systemic, cascading crises.
According to CoinDesk, as North Korea’s infiltration methods targeting the cryptocurrency industry grow increasingly sophisticated, security experts point out that North Korea’s cryptocurrency theft activities differ fundamentally from those of other state-sponsored hacking groups—both in motive and methodology—making it one of the most dangerous threats facing the cryptocurrency ecosystem.
According to CoinDesk, amid the Iran conflict, Binance has offered its approximately 1,000 employees in the UAE the option of temporary relocation to Hong Kong, Tokyo, Kuala Lumpur, or Bangkok. Binance stated that its UAE operations continue normally, with some employees choosing to remain locally, and global user services remain unaffected. This measure follows regional unrest that has disrupted major cryptocurrency, business, and sports events in the UAE—including the postponement of TOKEN2049 Dubai to 2027 and the cancellation of TON Gateway due to security and travel concerns. The UAE government reported having intercepted hundreds of missiles and drones since late February. Binance is deepening its collaboration with local authorities through Abu Dhabi’s global regulatory framework, and its global operations are backed by Abu Dhabi.