kithe

Here it is, Drift has announced the recovery plan after being hacked on April 1st.

Total loss is $295.7 million, Tether has proposed to contribute up to $127.5 million (in the form of credit linked to $100 million in revenue), and other partners will contribute an additional $20 million.

Users will receive a separate recovery token, distinct from the DRIFT governance token, which can be used to claim from the recovery pool, and the token is transferable. 🤔

I noticed another detail: after the restart, the settlement layer will switch from USDC to USDT, and Tether will also engage market makers.

In simple terms, Tether is deeply involved, repaying gradually with revenue, rather than a one-time compensation.

Whether the money can actually be repaid will depend on whether the trading volume can hold up after the restart.
$DRIFT

CoinGecko's first quarter report is out, and the data doesn't look good.

The total cryptocurrency market cap fell by 20.4% to 2.4 trillion, down 45% from the peak in October last year.

BTC fell 22% this quarter, underperforming the US stock market, and CEX spot trading volume was directly cut by 39.1%.

Stablecoins are a bit interesting; USDT shrank by 1.6% for the first time since Q2 2022, while USDC actually increased by 2.4%, which says a lot about the situation 🤔

Additionally, the perpetual contracts on Hype are pretty strong,

the daily trading volume for 24/7 oil contracts once exceeded the platform's BTC,

this sector seems to really be taking off!!!
$HYPE

New birth $BLESS

In the past 9 hours, the project party transferred 300 million BLESS from two project party addresses on the Sol chain, worth 3.83 million dollars.

200 million directly went to Bg, and another 50 million was cross-chain sold on BSC, with 10 million already exchanged for 125,000 USDT.

The coin price has been directly halved and discounted, dropping by 55%😅

The project party is no longer hiding anything; they are openly selling in another place!

Teachers, please pay attention⚠️

Source of information: Teacher Yu Jin

Ridiculous, $SIREN this stock is really not pretending.

At the beginning of the month, it dropped from $2 to $0.13, a decrease of 94%,

then starting from 4/5, a batch of addresses crazily withdrew coins from Binance Alpha wallet,

up to now, 30.07 million coins have been withdrawn (worth 25.09 million dollars),

and the coin price has also rebounded from $0.13 to $0.83.

I checked that someone had previously calculated that the market maker controlled 88.5%,

now with this batch of withdrawal addresses, it is very likely the same group of people,

the actual control is up to 93% or higher, and considering CEX, it will only be higher 😅
$SIREN
Information source: Teacher Yu Jin's sharing

Awesome, the whales associated with Matrixport have closed all long positions in four wallets over the past two days.

1500 BTC plus 120,000 ETH,

the total position is almost 400 million dollars, netting a profit of 59 million.

I checked the addresses and they are indeed from the same batch of old active users, with a very unified operation rhythm, basically executing the same decision.

The profit from BTC is not that much, the major profit was made on this rebound in ETH 🐋 I have to say,

being decisive and clearing everything at this position is better than most people.

As for whether this is a clear top signal or just taking profits, let's see if there will be a re-entry. 🤔
$ETH $BTC

Wow, Jameson Lopp and his five colleagues have proposed BIP-361,

which aims to freeze addresses on the Bitcoin network that are vulnerable to quantum computing attacks, including Satoshi Nakamoto's batch of approximately $74 billion worth of coins.

The logic is as follows: after three years, transferring to old addresses will be prohibited, and after five years, old signatures will become invalid, locking up any coins that haven't migrated.

The third phase does leave a zero-knowledge proof relief channel, so those with mnemonic phrases can still recover their funds.

This is actually the second step of their three-phase plan; the first step, BIP-360, was proposed in February, introducing a new P2MR output type.

The community is quite vocal about this, with opponents claiming this is just a disguised confiscation🤷

To be honest, the rationale is understandable, but messing with Satoshi's coins,

voting on this is inherently a political issue🤔
$BTC
#量子威胁

$RAVE so ruthless ah 1u saw it until now

1u opened a long position, took a bit, and ran away, too enchanting

Could it be the next $RIVER

XRP has directly integrated into the Rakuten ecosystem in Japan.

Rakuten Wallet has listed XRP as an asset and payment target,

users can exchange points for XRP and can also use it for consumption. Looking at the scale, Rakuten has 44 million users, 3 trillion points (approximately 23 billion USD), and over 5 million merchants, basically covering daily consumption in Japan 🇯🇵.

This means that XRP no longer needs to talk about cross-border narratives; it directly falls into the grocery shopping scenario.

Japan has always been relatively conservative about crypto payments, but players of Rakuten's size are willing to participate, which is more valuable than the data itself.

Whether it can achieve significant volume is another story, but at least it's not just a pipe dream!
#xrp
$XRP

The CoinGecko report on spot CEX for 2026 is quite interesting.

USDT and USDC account for 66.6% of the top 12 trading pairs,

essentially it's a stablecoin world.

Only about 32% of new coins listed have positive returns on the first day,

with an increase of 67% being the highest, Binance and OK both at 50%.

However, after 12 months, most are below 10% above the issue price 😮.

Looking at the reserve side,

the underlying assets of the top 12 exchanges increased from 152.1 billion to 225.4 billion,

Binance directly doubled to 93.4 billion, Cb holds 800,000 coins $BTC as ballast.

Retailers have a noticeably higher turnover rate,

MC, HTX, and KuCoin are stuck between 1.44 and 2.04, while institutional exchanges are stable.

New coins are like this, a short-term lottery and a long-term zero, still the old rule. 😂

So impressive, Hyperliquid that——11 people generated a net profit of 900 million USD, averaging over 80 million each

Founder Jeffrey Yan, who came from MIT, the team basically didn't raise much funding to reach this scale

Mechanism is an on-chain perpetual contract exchange,

All fee income flows back to $HYPE holders and the HLP treasury, not relying on token unlocks to profit from people

The profit figures are derived from on-chain data calculations, not from financial reports

Just this, 11 people.......

Big brother is here to restock again

Saved 2.4 million dollars and directly went all in on 54,157 pieces at the position of 44.3

Checked the records and lost money running away from the hype bought two months ago

He's back again 😂

Teachers, do you have a regular investment for $HYPE ?

Sure enough, giving fewer chips is good for pulling the market

I looked at the accounts created in January, a single account wore down 10u and was given 481 pieces

At the current price, fully unlocking a single account is 200u+,

Haha, unfortunately, there’s only 30%, just need 10u wear to get 144 pieces

Anyway, that's about it, let’s see how it goes

So, does this mean that the fun has come back? 🤡

$GENIUS

Strategy has bought again

The 8-K document shows that from April 6 to April 12, approximately $1 billion was spent to purchase 13,927 BTC at an average price of $71,902.

Looking at the current holdings: a total of 780,897 coins, with a total cost of about $59 billion, and an average cost of $75,577.

The current BTC price is below the average price line (purchased at $71,902 but average $75,577), resulting in a paper loss 📉

Year-to-date return of 5.6% on $BTC , still buying, the rhythm hasn’t changed.

Almost 800,000 coins now 🐮

Recently, I've seen a lot about black Circle,

asking why Drift didn't freeze the hacker immediately after being stolen, but instead played dead.

ZachXBT questioned Circle about why they didn't freeze it.

CEO Allaire responded in South Korea: Without law enforcement or court orders, Circle won't take action to freeze addresses, saying this is a "significant moral dilemma".

Looking at the logic, what he means is that intervening privately poses a greater risk than not intervening—who defines whom to freeze?

Of course, there are reasons for Drift being stolen,

you can't just blame others for not safeguarding your money because of your own mistakes, right? 🤣

At the same time, they are promoting the Clarity Act, aiming to add a safety harbor clause for preventive freezing in extreme situations for stablecoin issuers 📋 This means that while there isn't one now, they are seeking legal tools.

They also signed a partnership with Upbit's parent company Dunamu and Bithumb, promoting the compliant landing of USDC in the South Korean market.
$DRIFT $CRCL

The DeAgentAI completed the first round of repurchase today

A total of 500w, of course not all at once today 😂

Divided into three rounds to be completed within 90 days, and all repurchased tokens will be directly destroyed, permanently removed from circulation, without any lock-up or redistribution arrangements

I took a look, and this repurchase money comes from the project's protocol income and trading income generated based on its own AI model.
$AIA

I just saw that today's alpha is $GENIUS this birth

Fortunately, I only traded about 10,000 at that time and stopped

It's also a scam project riding on the investment of yzilabs!

What's funny is that you can claim your airdrop rewards,

but sorry, you can only claim 30% of the tokens, and 70% will be burned

Don't worry, there might be a reversal, or!

Locked for a year 🤣

This birth now added a refund option, do you really think it's that good? Wrong

Only the net Genius fees will be refunded, not the absolute fees.

What it means is: you made a transaction, total fees = 20 basis points (0.20%).

Among them:
- 15 basis points are PancakeSwap fees (or other DEX),

- 5 basis points are Genius fees.

Here, you will only get refunded “5 basis points are Genius fees” 🤣

Summary...

Pure bad guys

Looking at it this way, the airdrop amount is relatively small, although the project side is an sb, I estimate the chips are all in hand, don't get carried away and short, or you'll be re-educated by the project side teachers!
#ALPHA

Reviewing

Hackers forged a message to directly change the contract admin

$237K, just like that it’s gone

They minted 1 billion tokens out of thin air and ran away

Hyperbridge's cross-chain gateway was used as an ATM
"forged message"—even the signature verification passed, is this security audit just for show? 🫠

Admin rights of the cross-chain protocol can be replaced with a fake message

$DOT holders, are you all okay?

$DOT was hacked, issued 1 billion!

The chain has already gone to zero

Is the exchange still at 1?

Hua Ge's speech this time has a lot of information.

The peace talks are about to succeed, saying that the bullish trend is coming?

Buffett is hoarding cash, major countries are hoarding gold, and whether BTC is a safe haven or a burial this time will truly be revealed.

However, the most ruthless part is the latter half— a few people can handle global companies, AI has directly saved the financing and management processes.

Old entrepreneurs really can't sit still this time, understanding direction and demand, not getting involved with AI is just wasting experience points.

So is it time to bottom-fish $BTC or go all in on AI projects?

Brother Loracle added a short position of $CL directly to $19.76 million, with 7x leverage

At the same time, also increasing a long position of over 5x on TON

Shorting and going long at the same time, the directions are different, but the positions are substantial
On the long side, BTC, $TAO, ENA, and a bunch more, totaling over $47.17 million+

Feeling that CL being heavily shorted is somewhat of a signal

$TON was chosen to increase the long position, not just a random bet

Just completed the Catchain 2.0 upgrade these days, block generation speed increased 6 times

Of course, this is just the first step of Pavel Durov's Make TON Great Again initiative

Will it feel familiar in 2024?