1. Hot CEX Coins
Top 10 CEX Trading Volume and 24-Hour Price Changes:
- BTC: -0.89%
- ETH: +0.23%
- SOL: -4.04%
- XRP: -0.73%
- BNB: -2.01%
- DOGE: -1.61%
- LINK: -0.46%
- TRX: +0.48%
- STO: +146.53%
- ADA: +0.08%
24-Hour Price Rise List (Data Source: OKX):
- ONT: +51.47%
- XPL: +13.73%
- PHA: +13.07%
- BLUR: +8.62%
- ORBS: +8.22%
- S: +7.83%
- NMR: +7.72%
- CATI: +7.57%
- IOTA: +6.16%
- POR: +5.65%
24-Hour Coin Stock Rise List (Data Source: msx.com):
- DEFT: 21.63%
- PL: 13.45%
- VVPR: 11.23%
- WDC: 10.61%
- BKSY: 10.53%
- MU: 9.82%
- DXYZ: 9.78%
- YSS: 9.52%
- SNDK: 9.47%
- SOXL: 9.23%
2. Top 5 Onchain Memes (Data Source: GMGN):
- ARTEMISII
- MOON
- ROCKET
- GAJAE
- FML
Headlines
WTI crude oil broke through $103 per barrel, rising 4.07% intraday. Brent crude oil soared $4 during the day, currently priced at $102.86 per barrel, an increase of 4.06%. On the news front, Trump stated he would strike Iranian energy facilities if no agreement is reached.
U.S. stock index futures fell. The S&P 500 futures dipped 0.5%.
Solana Ecosystem Drift Protocol Attacked, Losses at Least $200 Million
The Solana-based derivatives trading platform Drift Protocol experienced a security incident, with on-chain data showing losses of at least about $200 million, with some estimates nearing $270 million.
The project team stated they have discovered unusual activity and are investigating, advising users not to deposit funds into the protocol for the time being, and emphasized, "This is not an April Fool's joke."
This attack involved multiple liquidity pools, including JLP Delta Neutral, SOL Super Staking, and BTC Super Staking, among others. A single transfer of approximately 41.7 million JLP tokens was valued at about $155 million; additionally, assets such as SOL, USDC, cbBTC, and wBTC were also removed.
According to statistics, this incident may become one of the largest DeFi attacks in the Solana ecosystem after the Wormhole bridge exploit.
Iran Reaffirms Blockade of Hormuz Strait as a Countermeasure
The Supreme Leader's Office of Iran on April 1 issued excerpts of the Supreme Leader's first speech, reaffirming the continuation of the blockade of the Hormuz Strait as a countermeasure. The office also stated that Iran is studying the opening of "other potential fronts," believing that its opponents have "lack of experience and obvious weaknesses" in relevant areas. If hostilities continue, after comprehensive consideration of relevant factors, "these fronts will be activated."
Industry News
South Korean Cryptocurrency Exchange Bithumb Delays IPO Until After 2028
An executive from Bithumb stated that it will "focus on preparing for an IPO before 2027." CFO Jeong Sang-gyun said at the company's annual shareholders meeting that Bithumb is "strengthening accounting policies and internal controls" after signing an IPO consulting contract with Samjong KPMG. Bithumb had previously planned to go public in 2025.
At the shareholders meeting, CEO Lee Jae-won was re-elected for another two years. During his tenure, Bithumb faced a six-month operational suspension and a $24 million fine by South Korean regulators for alleged violations of anti-money laundering regulations.
Additionally, Dunamu, the operator of another major exchange in South Korea, Upbit, is also planning an IPO after completing a share swap with Naver Financial, expected in September.
The prediction market Kalshi's main investor, Paradigm, is developing its own prediction market trading terminal, led by Paradigm partner Arjun Balaji. This plan will target professional traders and market makers, though Paradigm's official spokesperson declined to comment on the matter. Additionally, sources indicate that Paradigm is also considering whether to establish an internal market-making department in the prediction market field, in addition to developing the trading terminal. Moreover, Paradigm is collaborating with researchers to explore the feasibility of creating a prediction market index, which would package multiple prediction markets into a tradable platform, similar to how the S&P 500 index aggregates the stocks of 500 companies into one index.
Project News
Bitcoin Mining Company Riot Platforms Suspected of Selling 500 BTC About 2 Hours Ago
According to monitoring by Lookonchain, the Bitcoin mining company Riot Platforms is suspected of selling 500 BTC about 2 hours ago, valued at approximately $34.13 million.
SpaceX Expected to Go Public in June, Valuation May Exceed $1.75 Trillion
Insiders revealed that SpaceX has secretly filed for an IPO, moving one step closer to the largest IPO ever. They stated that SpaceX has filed an IPO registration draft with the U.S. Securities and Exchange Commission (SEC) and is expected to go public in June, becoming the first of three major super IPOs, ahead of OpenAI and Anthropic. Insiders also disclosed that SpaceX may seek a valuation exceeding $1.75 trillion in the IPO; the company previously acquired Musk's AI startup xAI, which brought the merged entity's valuation to $1.25 trillion. Details of the IPO, including the number of shares for sale and price range, are expected to be disclosed in subsequent filings. SpaceX could raise as much as $75 billion in this IPO, far exceeding the current record holder Saudi Aramco's $29 billion in 2019. Insiders said that banks including Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley will act as the lead underwriters for this IPO.
Investment and Financing
Kulipa Completes $6.2 Million Seed Round Financing, Flourish Ventures and 1kx Co-Lead
Stablecoin payment card infrastructure service provider Kulipa announced it has completed a $6.2 million seed round financing, co-led by Flourish Ventures and 1kx, with participation from White Star Capital and Fabric Ventures. The company helps fintech firms issue white-label stablecoin payment cards without having to manage card operations themselves. According to Kulipa's founder and CEO Axel Cateland, this round of financing was actually completed in December last year, using a Simple Agreement for Future Equity (SAFE) financing model, but he declined to disclose details regarding the timing of the financing process, financing structure, company valuation, and board seat allocation.
New York Stock Exchange listed Bitcoin mining company Cango announced it has completed two significant financing transactions, which include a $65 million strategic investment, issuing a total of 49,242,424 Class A common shares to entities wholly controlled by Chairman Xin Jin and Director Chang-Wei Chiu, with the transaction completing its settlement on March 31, with proceeds settled in USDT. Additionally, the company signed a securities purchase agreement with Hong Kong Stock Exchange listed financial services group DL Holdings Group Limited, issuing convertible notes worth $10 million and warrants for up to 370,370 shares of Class A common stock, with an exercise price of $2.70 per share.
Regulatory Trends
U.S. Treasury Releases First Implementation Rule Draft for GENIUS Act, Seeks Public Opinion
The U.S. Treasury has released the first rule-making proposal (NPRM) for the stablecoin regulation bill, the GENIUS Act, marking the entry of the bill into a concrete implementation phase.
This proposal focuses on the regulatory pathway for "small stablecoin issuers," aiming to establish criteria for assessing whether state regulatory systems are "substantially equivalent" to federal frameworks. According to the bill, institutions with issuance scales below $10 billion may choose to be subject to state regulation, provided that their regulatory systems meet federal standards.
The Treasury stated that this proposal aims to clarify the regulatory boundaries between state and federal levels and provide the stablecoin industry with a clearer compliance pathway.
The public will have 60 days to submit opinions on the rule draft. Meanwhile, other federal regulatory agencies, including FDIC and OCC, are also advancing related supporting rules, and the overall stablecoin regulatory framework is gradually taking shape.
U.S. SEC Approves NYSE American Listing for Multiple Cryptocurrency Commodity Trust Options
The U.S. Securities and Exchange Commission (SEC) has approved a rule change application for NYSE American to list options for multiple cryptocurrency commodity trusts, which previously only allowed the listing of options for single cryptocurrency commodity trusts; it has now expanded to support commodity trust options that hold multiple cryptocurrency assets. The listing prerequisites include: each cryptocurrency asset held by the trust must individually meet high liquidity standards, with an average daily market value of at least $700 million over the past 12 months, and the derivative contracts of the cryptocurrency must have comprehensive monitoring sharing agreements with trading platforms. Additionally, trust shares must comply with the initial and ongoing listing standards for ETF options set by the trading platforms and belong to NMS stocks.
The U.S. Commodity Futures Trading Commission (CFTC) enforcement director David I. Miller stated in a speech at New York University School of Law that future enforcement will focus on five major areas, including insider trading, market manipulation, market abuse, retail fraud, and anti-money laundering and KYC violations. The CFTC explicitly pointed out that prediction markets are also subject to insider trading regulation, and trading on the basis of undisclosed material information will be considered illegal and will be "actively investigated and prosecuted."
In terms of regulatory direction, the CFTC emphasized ending the model of "enforcement instead of regulation," shifting focus toward core illegal activities such as fraud and manipulation. They also plan to introduce new cooperation policies that provide leniency or even exemption paths for institutions that voluntarily self-inspect, cooperate in investigations, and complete rectifications. Furthermore, the CFTC stated it will strengthen cooperation with exchanges and judicial bodies, particularly targeting manipulation in energy markets and fraud offenses using new technologies such as AI.
Voices
Tom Lee: High Oil Prices May Not Impact U.S. Economy, “Opportunities in Crisis” Are Underestimated
Tom Lee, chairman of Ethereum treasury company Bitmine, stated on platform X that from the perspective of the primary regional economic structure in the U.S., high oil prices are not absolutely adverse to the overall economy. Texas benefits from the energy industry, New York relies on public transportation to reduce sensitivity to oil prices, and Florida sees shorter commuting distances, all of which buffer the impact of rising oil prices to some extent. Additionally, Lee emphasized that the "crisis" itself contains both "danger and opportunity," but most investors tend to focus only on risks while overlooking potential opportunities.
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