Drift Protocol遭攻击 SpaceX秘密提交IPO申请

Headlines

▌Solana Ecosystem Drift Protocol Hit by Attack, Losses at Least $200 Million

On April 2, a security incident occurred on Drift Protocol, a Solana-based derivatives trading platform. On-chain data shows losses of at least about $200 million, and some estimates approach $270 million. The project team said it has identified anomalous activity and is investigating, urging users not to deposit funds into the protocol and emphasizing, “This isn’t an April Fools’ prank.” The attack involved multiple liquidity pools, including JLP Delta Neutral, SOL Super Staking, and BTC Super Staking, among others. A single transfer of about 41.7 million JLP tokens is valued at roughly $155 million; in addition, assets such as SOL, USDC, cbBTC, and wBTC were also withdrawn. According to statistics, the incident may become one of the largest DeFi attacks in the Solana ecosystem since the Wormhole bridge exploit.

▌SpaceX, Musk’s Company, Secretly Filed for an IPO

On April 1, reports said billionaire Elon Musk’s aerospace company, SpaceX, has secretly filed for an initial public offering (IPO). The filing could put it on track to list in June, which would make SpaceX the first company among the potential “Big Three” super-IPOs—ahead of OpenAI and Anthropic PBC. According to people familiar with the matter, the valuation SpaceX is seeking in the IPO could exceed $1.75 trillion. A representative for SpaceX has not yet responded to the matter. According to a report on March 25, advisers involved in the preparations expected that SpaceX could raise more than $75 billion in the IPO, higher than the previously reported $50 billion estimate.

Market

As of the time of publication, according to CoinGecko data:

BTC is $68,140.08, down 0.2% over the past 24 hours;

ETH is $2,142.51, up 1.9% over the past 24 hours;

BNB is $610.65, down 1.0% over the past 24 hours;

SOL is $81.30, down 2.1% over the past 24 hours;

DOGE is $0.09248, up 0.4% over the past 24 hours;

XRP is $1.35, up 0.7% over the past 24 hours;

TRX is $0.3157, up 0.8% over the past 24 hours;

WLFI is $0.09964, up 0.9% over the past 24 hours;

HYPE is $35.98, down 1.5% over the past 24 hours.

Policy

▌U.S. Department of the Treasury Releases Draft Implementation Rules for Its First GENIUS Act, Seeking State-Level Regulatory Input from Small Stablecoin Issuers

On April 2, the U.S. Department of the Treasury released the first proposed rulemaking notification (NPRM) for the “Guidance and Establishment of a Stablecoin National Innovation Act in the United States” (GENIUS Act), seeking public comments on the criteria for applying a state-level regulatory framework to small stablecoin issuers. The proposal is designed to clarify that when a state regulatory system is “substantially similar” to the federal framework, stablecoin issuers with an issuance size below $10 billion can choose to accept state regulation instead of full federal regulation. The public will have a 60-day comment period after the rule is published in the Federal Register. The Treasury said the rule will establish general principles for determining whether state-level regulation meets federal standards. At present, major U.S. banking regulators—including the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC)—are also rolling out related draft rules to advance the implementation of the stablecoin regulatory framework. Meanwhile, the GENIUS Act still does not include rules related to interest-bearing stablecoins, and this issue has become a major obstacle to Congress advancing broader crypto market-structure legislation.

▌Arizona Crypto-Related Bills Have Passed the House Rules Committee and Are Set for a Full House Vote

On April 1, according to Cointelegraph, Arizona’s crypto-related bills passed the House Rules Committee and are expected to move quickly into the House’s full voting process. Senate Bill 1042 (SB1042) would allow the state’s treasury funds to allocate up to 10% to investments in crypto assets; Senate Bill 1649 (SB1649) plans to establish an official digital asset reserve fund.

▌U.S. CFTC Enforcement Head Issues Warning to Insider Traders in Prediction Markets

On April 1, U.S. Commodity Futures Trading Commission (CFTC) enforcement head David Miller issued a warning to insider traders in prediction markets on Tuesday, saying that violators will face enforcement action. Miller said at a panel discussion at New York University: “We have noticed the speculation about insider trading, and we are closely watching.” He added: “There’s a misunderstanding in mainstream media and on social media that the insider trading rules do not apply to prediction markets… That’s wrong.” Miller took office on March 2, after previously serving as a federal prosecutor. He said the commission will exercise prosecutorial discretion and will not use resources on “trivial” cases. As reported by Bloomberg, he added: “We will only prosecute people who trade using or spreading improperly obtained information.” In recent times, insider trading issues in prediction markets have become a focus for U.S. lawmakers, threatening the industry’s credibility. According to TRMLabs data, the industry’s monthly trading volume has already exceeded $20 billion.

▌Australia Passes Its First Crypto Regulatory Bill; Exchanges Must Obtain Financial Services Licenses

According to Golden Finance, on April 1, Australia formally passed the “2025 Corporations Amendment (Digital Asset Framework) Bill,” becoming the country’s first comprehensive digital-asset regulatory legislation. The bill requires crypto exchanges and custody platforms to apply to the Australian Securities and Investments Commission (ASIC) for a financial services license and to complete compliance within six months. The new law creates two categories of regulated entities: “digital asset platforms” and “tokenized custody platforms.” It applies core rules similar to those for brokers and fund managers—such as customer asset protection, information disclosure, and dispute resolution—aimed at preventing risks like mixing and misappropriating customer assets. Research institutions estimate that Australia could earn up to 24 billion Australian dollars per year from the tokenized market, payments, and the digital-asset sector, about 1% of GDP. Without a regulatory framework, that figure would be only about 1 billion Australian dollars by 2030.

▌Trump: I’m Strongly Considering Having the U.S. Leave NATO

On April 1, according to The Daily Telegraph: U.S. President Trump said he is strongly considering having the U.S. leave NATO because NATO failed to join his war against Iran.

▌Iran Foreign Minister Araghchi: We Do Not Accept a Ceasefire

On April 1, Iran Foreign Minister Araghchi: We do not accept a ceasefire; what we are seeking is an end to the war, and assurances that similar aggression will not be repeated.

▌Trump: The President of Iran’s New Regime Just Asked the U.S. for a Ceasefire

On April 1: U.S. President Trump: The president of Iran’s new regime, compared with his predecessors, is less aggressive, more intelligent—he has just asked the United States for a ceasefire! We will consider this request when the Strait of Hormuz is reopened to be open, free, and clear. Until then, we will bomb Iran into an endless abyss—or, as they say, send them back to the Stone Age!!

Blockchain Applications

▌Paradigm Is Developing a Prediction Market Trading Terminal

Kalshi, the main investor in prediction markets, and its major backer Paradigm, is developing its own prediction market trading terminal. Paradigm partner Arjun Balaji is leading the project. The effort will be aimed at professional traders and market makers; currently, a Paradigm official spokesperson has declined to comment on the matter.

▌JPMorgan Chase CEO: Considering Offering Prediction Market Services to Clients

On April 1, according to CBS News, JPMorgan Chase CEO Jamie Dimon said he is considering offering prediction market services to clients, but explicitly stated it would not involve areas such as sports and politics. Former CFTC Commissioner Brian Quintenz responded on X, saying he believes JPMorgan will not face “absurd” risks due to specific election outcomes. He noted that with efficient and regulated products already available, shareholders may in the future demand hedging strategies tailored to risks such as elections, and he likened it to interest-rate risk management.

Crypto

▌U.S. SEC Approves Options for NYSE American-Listed Multi-Crypto Asset Commodity Trusts

On April 2, the U.S. Securities and Exchange Commission (SEC) announced approval of a rule change application for options on NYSE American (New York Stock Exchange American board)-listed multi-crypto asset commodity trust products. Previously, options were only allowed for commodity trusts holding a single crypto asset; now they are expanded to support options on commodity trusts holding multiple crypto assets. The listing prerequisite is that each crypto asset held by the trust must independently meet high-liquidity standards—average daily market value of at least $700 million over the past 12 months—and that the derivatives contract for that crypto asset must have a comprehensive surveillance-sharing agreement with the trading platform. Trust shares must meet the exchange’s initial and continued listing standards for ETF options and must be NMS stocks. After review, the SEC concluded that the rule change would give investors greater exposure to crypto assets and hedging tools, without needing to apply for SEC approval each time, thereby improving market efficiency.

▌CoinShares to List on Nasdaq via SPAC Merger

On April 1, European crypto asset management firm CoinShares completed its merger with SPAC company VineHillCapital and will trade on Nasdaq under the ticker CSHR. The deal values the company at about $1.2 billion and includes a $50 million investment from institutional investors.

▌Bitcoin Drops 23.8% in 2026 Q1, Posting the Worst Start Since 2018

On April 1, according to Yahoo Finance data, Bitcoin closed Tuesday at $66,619, while the opening price on January 1, 2026 was $87,508. The quarterly drop is the largest since Q1 2018, when Bitcoin fell from $14,112 to $6,973, a decline of 50%. Bitcoin’s 24% drop this quarter also follows the significant downturn in Q4 2025, when its price slipped 23% from $114,057 to $87,508. This means that over the past six months, the world’s largest cryptocurrency has wiped out about 41.6% of its market value. Against the backdrop of escalating geopolitical tensions in the Middle East, the entire crypto market has continued to retreat from its October 2025 historical peak, weighing on investor sentiment toward both crypto and traditional stock markets. In addition to macroeconomic uncertainty, analysts also pointed to the negative impact on Bitcoin prices from a reversal in flows into U.S. Bitcoin exchange-traded funds (ETFs). According to SoSoValue data, Q1 spot Bitcoin ETFs recorded net outflows of $496.5 million, with outflows of $1.8 billion in the first two months and inflows of $132 million in March, partially offsetting earlier outflows.

▌Fidelity: In This Cycle, Bitcoin Pullbacks Have “Clearly Narrowed”

On April 1, Fidelity Digital Assets said that in this market cycle, Bitcoin’s decline of about 50% is far smaller than in past cycles, and that this trend may persist long term. Fidelity Digital Assets research analyst Zack Wainwright said Tuesday that historically, the magnitude of Bitcoin’s pullbacks after setting new all-time highs has tended to be sharp, generally reaching 80% to 90%, while the pullback in this cycle has been only about 50%. He said that from the price performance after each historical peak, it’s clearly possible to observe a pattern of diminishing returns for Bitcoin across cycles. “The upside thrust of each bull market has been weaker than the previous one, and the downside risk in the current 2026 cycle has also been significantly reduced.” According to TradingView data, on February 6 Bitcoin touched the low of this cycle slightly above $60,000, which implies a 52% retracement from the historical peak of about $126,000 on October 6. The current price is down 46% from the six-month peak. The prior cycle’s decline was even more extreme: Bitcoin fell from the historical peak of $69,000 in June 2021 all the way down below the bear-market low of $16,000 in November 2022, for a cumulative drawdown of as much as 77%.

▌Bitmine Buys 45,000 ETH Through BitGo

On April 1, according to Onchain Lens monitoring, Bitmine bought 45,000 ETH via BitGo, worth about $95.3 million.

▌Franklin to Acquire CoinFund Spin-Off 250 Digital

On April 1, according to The Wall Street Journal, asset management giant Franklin Templeton said it will acquire the spin-off company 250 Digital from venture capital firm CoinFund to expand its crypto investment products. 250 Digital spun out from CoinFund earlier this year in January.

▌Coinbase to Add Support for Mezo (MEZO)

On April 1, Coinbase announced it will add support for Mezo (MEZO).

Major Economic Developments

▌U.S. March ADP Employment Increased by 62,000, Above Forecast

On April 1, U.S. March ADP employment increased by 62,000, compared with an estimated increase of 40,000 and a prior value of 63,000.

▌Islamic Revolutionary Guard: The Strait of Hormuz Will Not Open Because of Trump’s “Absurd Performance”

On April 1, according to Al Jazeera, Iran’s Islamic Revolutionary Guard said the situation in the Strait of Hormuz is “firmly in its hands,” and that it “will not open this country’s adversaries because of a U.S. president’s absurd performance.” Not long before, Trump claimed that the Iranian president had submitted a request for a ceasefire and added that he would consider this request when the “Strait of Hormuz is reopened—free and accessible.”

▌Iran Reiterates It Will Block the Strait of Hormuz as a Countermeasure

On April 1, Iran’s Office of the Supreme Leader posted on social media a clip from the Supreme Leader Mujtaba Khamenei’s first address on April 1, reiterating that it will continue to block the Strait of Hormuz as a countermeasure. The Office of the Supreme Leader also posted that Iran is studying the opening of “other potential fronts,” and believes the adversary is “inexperienced and has clear weaknesses” in the relevant areas. If the fighting continues, after taking relevant factors into comprehensive consideration, “these fronts will be activated.” (Xinhua News Agency)

▌Sources Say Iran Requires Ceasefire Talks to Be Premised on a Permanent End to the War

On April 2, sources from the Iranian side said that for ceasefire talks between Iran and the United States, Iran requires that they be premised on ensuring the war ends permanently. The sources also said that the mediator made contact with the Iranian side on March 31 to exchange views on further advancing diplomatic dialogue. As of now, however, the United States and Iran have not yet formally launched ceasefire talks through the mediator. (CCTV News)

▌U.S. Intelligence Agencies: Iran Currently Has No Intention of Joining Substantive Talks

On April 2, U.S. officials said that several U.S. intelligence agencies recently assessed that the Iranian government currently has no intention of engaging in substantive talks aimed at ending the U.S.-Iran war. These officials said the assessment reports indicate that the Iranian government believes it is in a favorable position in the war, and therefore does not need to accept diplomatic demands put forward by the United States. The officials also said that although Iran is willing to keep communication channels open, it does not trust the United States and does not believe U.S. President Trump is serious about the negotiation issue. Over the past year, Trump twice ordered attacks on Iran while the two sides were negotiating over Iran’s nuclear program. The above assessment aligns with statements recently made by Iranian officials, who rejected Trump’s claim that discussions with the help of third-party mediation were making progress. (CCTV News)

▌Probability the Federal Reserve Will Keep Rates Unchanged in April: 97.4%

On April 2, according to CME “FedWatch”: the probability of a 25-basis-point rate hike by the Federal Reserve in April is 2.6%, and the probability of keeping rates unchanged is 97.4%. The probability of a cumulative 25-basis-point rate cut by June is 6.6%, with a 91.0% probability of keeping rates unchanged, and a 2.4% probability of a cumulative 25-basis-point rate hike.

Golden Knowledge Base

▌Under a Geopolitical Crisis, Can Bitcoin Still Be Called “Digital Gold”?

Every time a geopolitical crisis hits, gold prices rise while Bitcoin prices plunge. After six tests, the claim that “digital gold” has never been confirmed by data. Countries stockpile gold, yet exclude Bitcoin from reserves. For investors, Bitcoin has asymmetry: it falls when stocks fall, but it does not rise when stocks rise. Three structural asymmetry factors prevent Bitcoin from gaining a safe-haven position: an oversupply of derivatives (market structure), dominance by leveraged traders (composition of participants), and the lack of repeated behavioral records (accumulated behavior).

Bitcoin is not a safe-haven asset, but it is indeed a “useful asset during crises.” In scenarios like borders closing and banks failing, it can play a role. If these three asymmetries shrink, Bitcoin may no longer be a replica of gold, but instead become a brand-new “next-generation gold.” Generational transition and the widespread adoption of algorithms are key factors that could accelerate this process.