24H Top Coins and News | Solana ecosystem Drift Protocol under attack, losses exceeding $200 million; Trump threatens continued strikes on Iran's energy facilities (April 2)

1. Popular Coins on CEX

CEX trading volume Top 10 and 24-hour price change:

• 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 gainers 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 spot/stock gainers 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. On-chain popular Meme Top 5 (data source: GMGN):

• ARTEMISII
• MOON
• ROCKET
• GAJAE
• FML

Headline

Trump threatens to strike Iran’s energy facilities, pushing oil prices higher; U.S. stock index futures fall

WTI crude oil breaks above $103 per barrel, up 4.07% during the day. Brent crude rises $4 during the day, currently at $102.86 per barrel, up 4.06%. On the news front, Trump said that if no agreement is reached, he will strike Iran’s energy facilities.

U.S. stock index futures fall. S&P 500 index futures are down 0.5% latest.

Solana ecosystem Drift Protocol targeted, losses of at least $200 million

A security incident occurred at Drift Protocol, a Solana-based derivatives trading platform. On-chain data shows losses of at least about $200 million, and some estimates are close to $270 million.

The project team said it has identified abnormal activity and is investigating. It urges users not to deposit funds into the protocol for the time being, and emphasizes, “This is not an April Fools’ joke.”

This attack involved multiple liquidity pools, including JLP Delta Neutral, SOL Super Staking, and BTC Super Staking, among others. In a single transaction, about 41.7 million JLP tokens were transferred, worth approximately $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 In addition, assets such as SOL, USDC, cbBTC, and wBTC were also withdrawn.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, following the scale of the Wormhole bridge exploit.

Iran reiterates it will blockade the Strait of Hormuz as a countermeasure

On April 1, Iran’s Supreme Leader’s office posted on social media excerpts of the first speech by Supreme Leader Mujtaba Khamenei, reiterating that it will continue to blockade the Strait of Hormuz as a countermeasure. Iran’s Supreme Leader’s office also posted excerpts saying that Iran is studying the opening of “other potential fronts,” and believes the opponent lacks experience in those related fields and has obvious weaknesses. If hostilities continue, “those fronts will be activated” after taking relevant factors into comprehensive consideration.

Industry news

South Korean crypto exchange Bithumb delays its IPO to after 2028

A Bithumb executive said it will focus on “preparing for a listing by 2027.” CFO Jeong Sang-gyun said at the company’s annual general meeting of shareholders that after signing an IPO advisory contract with Samjong KPMG, Bithumb is “strengthening accounting policies and internal controls.” Previously, Bithumb planned to go public in 2025.

At the shareholder meeting, CEO Lee Jae-won was re-elected for another two-year term. During his tenure, Bithumb was previously penalized by Korean regulators for alleged violations of anti-money-laundering regulations, resulting in a six-month suspension of operations and a $24 million fine.

In addition, Dunamu, the operator of another major Korean exchange Upbit, also plans to conduct an IPO after completing a share-swap deal with Naver Financial, which is expected to happen in September.

Paradigm is developing a prediction market trading terminal and exploring creating prediction market indices

Paradigm, the main investor in the prediction market Kalshi, is developing its own prediction market trading terminal. The project is led by Paradigm partner Arjun Balaji, and the plan will target professional traders and market makers. Currently, an official Paradigm spokesperson declined to comment on the matter. In addition, sources say Paradigm is also considering whether—aside from developing the trading terminal—it will set up an internal market-making division in the prediction market space. Paradigm is also working with researchers to explore the feasibility of creating prediction market indices. This would package multiple prediction markets into a single tradable platform—similar to how the S&P 500 index packages a stock portfolio of 500 companies into an index.

Project news

Bitcoin miner Riot Platforms suspected of selling 500 BTC about 2 hours ago

According to Lookonchain monitoring, Bitcoin miner Riot Platforms is suspected of selling 500 BTC about two hours ago, worth approximately $34.13 million.

SpaceX expected to list in June, valuation could exceed $175 billion

Insiders say SpaceX has secretly filed for an IPO, moving one step closer to what would be the largest IPO of all time. Insiders said SpaceX has filed a draft IPO registration statement with the U.S. Securities and Exchange Commission (SEC), and is expected to go public in June, becoming the first among the “possible top three super IPOs,” ahead of OpenAI and Anthropic. Insiders said SpaceX may seek a valuation of more than $175 billion in its IPO. The company previously acquired Elon Musk’s AI startup xAI, bringing the combined entity’s valuation to $125 billion. Listing details, including the number of shares to be sold and the price range, are expected to be disclosed in subsequent filings. The amount SpaceX could raise in this listing may be as high as $75 billion, far exceeding the current record holder Saudi Aramco’s $29 billion in 2019. Insiders said banks, including Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley, will serve as the lead underwriters for the IPO.

Fundraising & investment

Kulipa completes a $6.2 million seed round; Flourish Ventures and 1kx co-lead

Kulipa, a provider of stablecoin payment card infrastructure services, announced it has completed a $6.2 million seed round. Flourish Ventures and 1kx co-led the round, with White Star Capital and Fabric Ventures also participating. The company helps fintech firms issue white-label stablecoin payment cards without having to manage card operations themselves. According to Kulipa founder and CEO Axel Cateland, the round was actually completed in December of last year, using a Simple Agreement for Future Equity (SAFE) financing model. However, he declined to disclose details such as when the fundraising process began, the tranche structure, the company valuation, and the allocation of board seats.

Cango announces a $65 million strategic investment and completes a $10 million convertible note financing

New York Stock Exchange-listed bitcoin miner Cango announced two important financing transactions, including a $65 million strategic investment. It issued a total of 49,242,424 Class A ordinary shares to two entities wholly controlled by Chairman Xin Jin and director Chang-Wei Chiu, respectively. The deal closed on March 31, with proceeds settled in USDT. In addition, the company signed a securities purchase agreement with DL Holdings Group Limited, a financial services group listed on the Hong Kong Stock Exchange, to issue to it a $10 million principal convertible note and warrants for up to 370,370 Class A ordinary shares. The exercise price is $2.70 per share.

Regulatory updates

U.S. Treasury releases the first draft of implementing rules for the GENIUS Act; seeks public comments

The U.S. Treasury has released its first rulemaking proposal (NPRM) for the stablecoin regulatory bill, the GENIUS Act, marking the legislation’s entry into a more concrete implementation phase.

The proposal focuses on the regulatory path for “smaller stablecoin issuers.” It would set up criteria to assess whether state-level regulatory frameworks are “substantially equivalent” to the federal framework. Under the bill, institutions with an issuance scale below $10 billion may choose to accept state regulation, provided their regulatory regime meets federal standards.

The Treasury said the proposal is intended to clarify the regulatory boundary between states and the federal government, and provide a clearer compliance path for the stablecoin industry.

The public will have 60 days to submit comments on the draft rule. Meanwhile, other federal regulators—including the FDIC and OCC—are also advancing related supporting rules. Overall, the stablecoin regulatory framework is gradually taking shape.

U.S. SEC approves rule changes for NYSE American to list options on multi-crypto asset commodity trusts

The U.S. Securities and Exchange Commission (SEC) approved a rule change application for NYSE American (the NYSE American board) to list options on commodity trusts backed by multiple cryptocurrencies. Previously, only options on commodity trusts backed by a single crypto asset were allowed. Now it has been expanded to support options on commodity trusts holding multiple crypto assets. Conditions for listing include: each crypto asset held by the trust must independently meet separate high-liquidity standards; the average daily market value over the past 12 months must be at least $700 million; and the derivatives contracts for that crypto asset must have comprehensive surveillance-sharing agreements with the trading platform. In addition, trust shares must meet the trading platform’s initial and continuing listing standards for ETF options, and must be NMS stocks.

CFTC clarifies 5 enforcement priorities: “crack down” on prediction market insider trading and market manipulation

David I. Miller, enforcement director at the U.S. Commodity Futures Trading Commission (CFTC), said in a speech at New York University School of Law that future enforcement will focus on five key areas, including insider trading, market manipulation, market abuse, retail fraud, and violations related to anti-money laundering and KYC. The CFTC also made clear that prediction markets are subject to insider trading regulations as well; trading using material nonpublic information will be treated as illegal and will be “actively investigated and prosecuted.”

On enforcement direction, the CFTC emphasized it will end the “enforcement instead of regulation” model and shift to focusing on core unlawful conduct such as fraud and manipulation. It also plans to introduce a new cooperation policy, providing reduced penalties or even exemption pathways for institutions that proactively self-check, cooperate with investigations, and complete remediation. The CFTC said it will strengthen cooperation with exchanges and judicial authorities, focusing on cracking down on energy market manipulation and fraud carried out using new technologies such as AI.

Voices from people

Tom Lee: High oil prices may not hit the U.S. economy; “turning crisis into opportunity” is underestimated

Tom Lee, chairman of Ethereum treasury company Bitmine, said on the X platform that based on the economic structure of key U.S. regions, high oil prices are not an absolute negative for the overall economy. Texas benefits from the energy industry; New York relies on public transportation, reducing sensitivity to oil prices; Florida has shorter commuting distances—all of which, to some extent, buffer the impact of oil price increases. In addition, Lee emphasized that “crisis” itself contains both “danger and opportunity,” but most investors tend to focus only on risks and overlook potential opportunities.