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Monad Co-founders: If a rate limit is set on collateral supply, today's rsETH event could prevent a loss of about 200 million dollars

Keone Hon from Monad Lianchuang stated: "I feel that the lending protocol for the liquidity pool should set rate limits on the supply of assets deposited as collateral. For example, if the current supply is 100 million and the supply cap is 300 million, then in the next 10 minutes, the maximum allowed increase should be to 110 million, rather than allowing a one-time deposit of the full 200 million. In reality, no one needs to complete such a large deposit all at once.This is important because when certain exotic assets are attacked, the impact depends on the scale of the exit channels for that asset. Especially in many cases where attacks belong to infinite issuance vulnerabilities, the scale of the exit that can be made essentially determines the upper limit of the attack losses. Lending protocols are often the largest exit channels. If a smart cap is introduced, where the initial cap is slightly above the current supply and is gradually adjusted to the real cap over several hours, it would have a huge effect. With such a mechanism, rsETH depositors could have avoided about 200 million dollars in losses.This also raises a point: the asset issuers themselves should support such mechanisms. If you are issuing redeemable tokens with redemption delays, you are not worried about hackers redeeming directly from you, but you need to compress the scale of external exit paths as much as possible without affecting normal users. Therefore, a high supply cap should be seen as a risk rather than a symbol of strength. For example, the Hyperbridge DOT attack did not result in a 100 million dollar loss because there were very few exit paths; the Resolv attack loss was 24 million dollars instead of 200 million dollars because the scale of the exit path limited the loss cap. This is an obvious principle, but there are still immediately actionable measures: audit the supply caps of all assets and lower the caps when unnecessary."

Gongye Feng, founder of Monera Digital: AI should serve as a "trust accelerator" for private banking, rather than replacing traders

At the "Crypto 2026: From Cryptocurrency to Smart Economy" forum held in Hong Kong, Gongye Feng, co-founder and CEO of Monera Digital, delivered a keynote speech titled "AI Empowered Private Banking for the Smart Economy."Feng pointed out that what disappeared after 2022 was not the demand for digital assets, but the market's confidence in the ways capital could enter. Monera Digital positions itself as an AI private bank for the smart economy, where the core is not using AI as traders, but as an accelerator that compresses the research, testing, and iteration cycles from months to days.He emphasized that risk control must be institutionalized rather than personalized. Monera has built four lines of defense: constraints on exposure and collateral at the source, automated clearing and margin management, complete isolation of client assets, and eliminating maturity mismatches while maintaining liquidity buffers. In addition, AI plays the role of a 24/7 digital CRO, achieving a leap from passive monitoring to proactive warning.In terms of service model, Monera does not operate as a pure technology platform, but insists on "anti-AI illusion," where AI is responsible for optimization and efficiency, while trust, responsibility, and continuity of relationships are still borne by humans. Feng believes that the prerequisite for crypto assets to truly become configurable assets is to translate complexity into clear, continuous, and trustworthy private banking services.

Next week's macro outlook: Focus on US-Iran negotiations and changes in the Federal Reserve personnel, with the Middle East situation repeatedly disturbing the market

According to Jinshi reports, global markets significantly rebounded over the past week driven by expectations of easing tensions in the Middle East, but core uncertainties remain unresolved. Iran once announced the opening of the Strait of Hormuz, leading to a rapid decline in oil prices, a broad strengthening of risk assets, U.S. stocks reaching new highs, a weakening dollar, and gold approaching the $4900 mark. However, Iran subsequently signaled that it "is still under military control," combined with the U.S. maintaining sanctions against Iran, which has heightened market concerns about the volatility of the situation.On the macro level, the biggest variable next week will still be the progress of U.S.-Iran negotiations. U.S. President Trump stated that negotiations may advance over the weekend and warned that if an agreement is not reached by next Wednesday, the ceasefire could end, and there is a risk of renewed conflict; meanwhile, Iran's attitude towards negotiations remains cautious, especially with significant differences on key issues such as uranium enrichment. The market has currently shifted from "pricing in conflict escalation" to "pricing in a path to easing," but any sudden changes could still trigger sharp asset fluctuations.In terms of interest rate expectations, the decline in energy prices has alleviated inflationary pressures, and the market's expectations for a rate cut by the Federal Reserve this year have risen to about 60%. At the same time, Federal Reserve Chair nominee Kevin Warsh will attend a Senate hearing next week, and his policy stance (especially whether it leans dovish) will become an important variable affecting gold and risk assets.On Tuesday at 20:30, U.S. March retail sales month-on-month;On Thursday at 20:30, U.S. initial jobless claims for the week ending April 18;On Thursday at 21:45, U.S. April S&P Global Manufacturing/Services PMI preliminary;On Friday at 22:00, U.S. April University of Michigan Consumer Sentiment Index final value, one-year inflation expectations final value;In the short term, the market's main focus will revolve around three major variables: progress in U.S.-Iran negotiations, oil price trends, and signals from the Federal Reserve.

Payward plans to acquire Bitnomial for $550 million, accelerating its layout in the U.S. compliant derivatives market

Cryptocurrency exchange Kraken's parent company Payward announced that it will acquire 100% of the digital asset derivatives platform Bitnomial for up to $550 million (cash + stock). The transaction is expected to be completed in the first half of 2026, pending regulatory approval.Bitnomial is the first crypto-native platform to obtain all three U.S. derivatives licenses (designated contract market, derivatives clearing organization, and futures commission merchant). This acquisition will help Payward quickly gain a complete compliant derivatives infrastructure, significantly accelerating its expansion in the U.S. market. After the transaction is completed, Bitnomial's clearing and trading capabilities will be integrated with platforms such as Kraken and NinjaTrader, offering products like spot margin, perpetual contracts, and options to U.S. customers, and will be regulated by the CFTC.This acquisition will also expand Payward Services, allowing banks, fintech companies, and brokerages to access the U.S. compliant derivatives market through a single API. Industry insiders believe that with the market warming up and valuations recovering, merger and acquisition activities in the crypto industry are on the rise, as leading institutions are accelerating their transformation into comprehensive trading platforms for institutional clients by acquiring key capabilities such as compliance, custody, and derivatives.

Hong Kong, China: Betting on sports events in "prediction markets" is considered illegal gambling and should cease the promotion of new gambling projects

According to Hong Kong Radio, the Hong Kong government has decided to stop promoting basketball gambling projects. The Secretary for Home Affairs and Youth Affairs, Mak Mei-juan, stated in an interview with this station that the information collected by the authorities shows that the "prediction market" has developed rapidly in recent years, with monthly trading volume increasing from less than $100 million two years ago to over $13 billion last year, of which nearly 40% of the transactions are related to sports. The authorities are concerned that if new gambling projects are promoted at this time, it will lead to greater public concern and even participation in illegal gambling in the "prediction market." Therefore, it is believed that research should be conducted first before deciding on the next steps, and the promotion of new gambling projects should be halted for now.Mak Mei-juan stated that the existing regulated gambling projects have established a more mature monitoring and management system, which can help control risks. However, due to the uncertainty of the "prediction market," as a responsible government, there is a need to conduct research to understand the impact of the "prediction market" and its prevalence in Hong Kong. She also mentioned that the government has always maintained close contact with the Hong Kong Jockey Club, as the club has a rigorous monitoring system to oversee illegal gambling situations, and there are experts specifically targeting the fight against illegal gambling. The government will cooperate with the Jockey Club to obtain professional advice, allowing the authorities to implement measures specifically aimed at illegal gambling.Mak Mei-juan reiterated that the government's consistent policy is not to encourage gambling, and betting on sports projects in the "prediction market" is considered illegal gambling. The authorities will strengthen public education to help citizens understand the harms of gambling and refrain from participating in illegal gambling.
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