Project Progress

Balancer Labs, the parent company of decentralized exchange Balancer, has announced its closure due to substantial losses from a hacker attack last year. Nevertheless, the Balancer protocol will continue to be operated by Balancer DAO and the foundation, generating revenue. The core team will be integrated into a new entity, BAL token issuance will cease, and all fees will be used to repurchase existing tokens, providing investors with a fair exit opportunity. The DeFi sector is currently undergoing restructuring, and the next 12 months will be a critical test for industry recovery.

Hyperliquid Strategies Inc has launched options trading for PURR on Nasdaq to enhance liquidity and price discovery. CEO David Schamis highlights improved risk management for investors. The company reported significant growth, but incurred a net loss due to HYPE price volatility.

BlockBeats News: On March 25, Japanese Bitcoin crypto treasury (DAT) company Metaplanet announced the launch of a shareholder-exclusive credit card "Metaplanet Card," which will begin service this summer. Cardholding shareholders will automatically receive 1.6% of their daily spending amount as equivalent Bitcoin cashback, converting every card payment directly into Bitcoin investment.

_Hyperliquid burns $1B in tokens and integrates Ripple Prime, while reporting $1.4M daily fees and expanding trading markets._ Hyperliquid has announced a major supply reduction alongside a new institutional access route. The network confirmed a governance-approved burn of about $1 billion in

Tether announces an agreement with the Big Four accounting firms to conduct a comprehensive audit of its USDT reserves, marking the largest-scale inaugural audit in financial market history and signifying significant progress in reserve transparency. This initiative will boost market confidence and promote stablecoin compliance and mainstream adoption.

Fluid officially announced that the debt repayment work for the Resolv hacker incident is still ongoing, with approximately 70 million USD in debt already repaid, and the remaining portion expected to be settled in the near term. Simultaneously, a governance proposal has been issued to transfer the remaining debt to the team's multisig address for liquidation, a compensation plan will be announced soon, platform operations are normal, and user funds are secure.

Bittensor subnet ecosystem is expanding rapidly, with TAO token staking growing from $74,400 to $620 million, an increase of 833,000%. The number of subnets has grown from 80 to 120, with a market cap exceeding $1.5 billion, with some subnets performing exceptionally. It is expected that after market cap breaks through $1 billion, more staking will flow into subnets. TAO has recently experienced continuous price increases, reaching new highs, outperforming most cryptocurrencies.

Fluid has officially updated the progress of the Resolv security incident: $70 million USD of USR debt has been repaid, with the remaining balance to be settled within a few days. Additionally, a governance proposal has been released, planning to transfer the remaining debt to a multi-signature address for further liquidation. The compensation plan will be announced as soon as possible, and the platform is operating normally.

Gate News report: On March 25, Elon Musk posted that the next version of xAI's image generation tool Grok Imagine "will be epic, we're doubling down on it." The official Grok account subsequently replied confirming the new version is called Grok Imagine.

The Ethereum Foundation released a quantum-safe roadmap, planning to introduce quantum-resistant mechanisms through a hard fork before 2029 to address the threat quantum computing poses to blockchain encryption. This upgrade includes optimizing public key support and enhancing layer 2 network security to ensure long-term security. The risk of quantum computing breaking existing encryption algorithms has already drawn attention from the Bitcoin ecosystem and institutions.

Ripple is testing its RLUSD stablecoin in Singapore's regulatory sandbox to automate trade finance payments, enhancing efficiency by triggering instant payments upon shipment verification, and supporting its institutional strategy for stablecoin use.

Agent economic infrastructure TermiX launched and open-sourced the Agent Autonomous Commercial Protocol (AACP) on March 25, addressing core issues in task posting, bidding, and execution for commercial tasks. It defines four industry standards aimed at enhancing security and dispute resolution capabilities, while providing intelligent trading services for Crypto users.

Safeheron launched its AML/KYT product on March 25, integrating Chainalysis, Elliptic, and MistTrack with a multi-dimensional hybrid screening mechanism to achieve precise risk identification. The product supports customizable risk control strategies and visual reports to help institutions make rapid decisions while maintaining continuous compliance with SOC 2 Level security standards.

Backpack founder Armani recently stated that the witch hunt investigation team is reassessing complex cases and has opened an appeals channel. Eligible users can have 50% or more of their tokens returned through manual verification. Meanwhile, the team will launch a token buyback plan to compensate users.

Cursor released the Composer 2 technical report on March 25, revealing the training scheme of the Kimi K2.5 model, which adopts a MoE architecture with parameters reaching 10.4 billion. Training is divided into two stages, using real-world scenario simulation for reinforcement learning. The model ultimately achieved 61.3 points on the CursorBench benchmark, a 70% improvement, with inference costs lower than other large language model APIs.

Ripple's CTO David Schwartz criticizes the idea of artificially subsidizing XRP use to drive adoption, likening it to unsustainable tactics used by startups like Uber. He emphasizes focusing on removing barriers to adoption rather than offering financial incentives.

As Iran tensions escalate, Wintermute launches WTI crude oil CFD over-the-counter trading services to meet around-the-clock trading demands. CFDs allow traders to participate without holding physical crude oil while meeting institutional hedging needs. Wintermute is expanding its business into commodities, driving convergence between the crypto market and traditional finance.