#Gate广场四月发帖挑战 Web3 Today’s Must-Read | April 3rd

Today’s Quick Overview
• Trump teams up with CFTC to support prediction markets.
• Coinb approved to establish a national trust institution.
• Drift robbed by North Korean hackers of $285 million.
• Circle launches cirBTC to enter wrapped Bitcoin market.
• US crypto legislation delayed due to stablecoin yield issues.
• Canada officially includes stablecoins under central bank regulation.
• Polymarket opens betting on US stocks and commodities.
• Coinb partners with Linux to promote payment standards.
• SoFi opens crypto settlement channels for institutions.
• Aave V4 launches to strengthen cross-chain lending.

Today’s Analysis
Behind this series of news today actually lies just one thing: the U.S. federal government is forcefully dismantling the last few “earthen walls” preventing cryptocurrencies from entering the mainstream financial system. The most noteworthy isn’t the passing of any particular bill, but rather the Trump administration’s direct attack on Arizona and two other states through the Department of Justice (DOJ) and CFTC. The signal behind this is that Washington can no longer wait for states to slowly develop their laws—they want a “unified national strategy” for prediction markets.
Once considered a gray-area “cyber casino,” Polymarket is now elevated to federal jurisdiction, essentially an administrative power forcibly clearing obstacles for a phenomenon-level application. This is no longer just regulatory chess; it’s a national will to unify liquidity in the crypto industry.
Interestingly, Coinb receiving conditional approval from the OCC (Office of the Comptroller of the Currency) to establish a national trust is the real headline. This means crypto-native companies finally have a “ticket” into the core of the U.S. banking system. Previously, many saw cryptocurrencies as challengers to traditional finance, but now it appears to be a deep infiltration. When Coinb becomes an institution with a national trust charter, it’s no longer just a trading platform but a clearinghouse on Wall Street within the Web3 world.
Coupled with SoFi’s launch of an institutional finance platform, it becomes clear that so-called “decentralized finance” is being wrapped in a highly compliant, highly “establishment” reinforced concrete structure. This trend of institutionalization is especially obvious in the stablecoin sector. The delay of the U.S. crypto market structure bill is surprisingly due to “stablecoin yield distribution.” This indicates that regulators and bankers are no longer debating the legality of stablecoins but are openly dividing the spoils—who gets the interest generated by hundreds of billions in reserves?
Canada has already taken the lead by integrating stablecoins into its central bank’s regulatory framework, setting an example globally: whoever controls the issuance and yield of stablecoins holds the future seigniorage of digital dollars.
Circle’s launch of cirBTC is also a strategic move to increase their stake in this game—wrapping Bitcoin, an “original asset,” through compliant channels into DeFi, essentially aiming to bring the liquidity of scattered Bitcoin holdings into this regulated system.
However, amid this parade of compliance, the $285 million theft from Drift by North Korean hackers is a loud slap in the face. It exposes the industry’s most embarrassing “two-layer skin”: the top layer busy hobnobbing with the White House and Federal Reserve, while the underlying protocols remain as leaky as a sieve. The core logic is clear: the transfer of regulatory power is accelerating, institutional liquidity migration is imminent, but the technical foundation remains fragile—an explosive mine waiting to go off.
For investors, the current market has entered a “battle of the gods” phase—reading Washington’s moves is far more important than analyzing candlestick charts.