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According to on-chain analyst Yu Jin (@EmberCN), after the SIREN market maker sold off dispersed chips at the beginning of the month, they have re-acquired the chips and increased their token control ratio to over 93%. There has been a resurgence of intense market operations, with SIREN recently rising by 185%, with the price rebounding from a previous low of $0.13 to $2.18.

The U.S. Court of Appeals for the Ninth Circuit heard oral arguments from lawyers representing the prediction market platform Kalshi and Nevada authorities regarding Nevada's ban on the platform's event contracts. This appeal stems from a lower court ruling that prohibited Kalshi from offering certain event-based contracts in Nevada based on the claim that Kalshi requires a license.The appellate court judges responsible for Thursday's oral arguments and Kalshi's lawyers acknowledged that there have been several state-level enforcement actions against Kalshi and other prediction market platforms, including criminal charges filed in Arizona. However, a federal court last week blocked Arizona authorities from enforcing the state's gambling laws against Kalshi's event contracts."I believe existing case law does indicate that what we want to avoid here is state courts and federal courts simultaneously considering the exact same issue and potentially reaching different conclusions," said Colleen Sinzdak, representing Kalshi.The core argument of Kalshi's debate is that the platform's event contracts fall under "swap" transactions and should be regulated by the Commodity Futures Trading Commission, rather than state gambling regulators. CFTC Chairman Michael Selig supported this position in the case involving Crypto.com's prediction market and Nevada authorities.Coinbase Chief Legal Officer Paul Grewal predicted that this case may be appealed to the U.S. Supreme Court. "The questions in the oral arguments are not a reliable signal of the court's leanings; nonetheless, I stand by my long-standing prediction that the Supreme Court will rule on whether sports contracts on designated contract markets fall under the exclusive jurisdiction of the CFTC as swap transactions."

The UK's Financial Conduct Authority (FCA) has released the final draft of the crypto asset framework. This new regulation is set to bring most crypto activities under the regulation of the Financial Services and Markets Act by October 25, 2027.According to the proposal, any institution that holds customer crypto assets for more than 24 hours or has the ability to revoke customer permissions will be considered a regulated custodian and must hold a full safeguarding license. Validators and node operators that provide value-added features such as yield or reward reinvestment will lose their technical exemptions. In addition, stablecoin issuers within the UK must control the entire lifecycle from issuance to redemption. Relevant institutions must submit authorization applications between September 30, 2026, and February 28, 2027.

Yili Hua posted on platform X, acknowledging that he is very ordinary yet important. Whether in the classical industry or entering the cryptocurrency space, we have always focused on primary investment Liquid Capital & investment bank Liquid Digital and secondary trading Trend Research (crypto) & Trend Investment (classical). Although operating projects and exchanges are very profitable, our energy and capabilities are indeed limited, leaving us only to envy and be jealous.In 2018, we incubated a market maker, but because the team kept the profits for themselves and left the losses to us, we were left battered and bruised. After exiting in 2019, we have not deeply participated in market making again; at most, we have seen some good trading teams and made some investments. Conspiracy theories are always the most popular, but I am not a hexagonal warrior; where would I have the ability and energy to manage projects? The exchanges are very clear about this.

According to Tech in Asia, South Korean internet giant Naver plans to promote the IPO of its fintech subsidiary Naver Financial within five years after completing a share swap with Dunamu, the operator of the cryptocurrency exchange Upbit in which it holds shares. The transaction has been delayed due to an extended antitrust review period, and the specific timetable and structure will depend on market conditions and the regulatory environment. The proposed "Digital Asset Basic Law" in South Korea may change the transaction structure or timetable.On the same day the share swap contract was signed, both parties entered into a shareholder agreement, requiring the establishment of an IPO committee for Naver Financial within one year after the share swap is completed. If the IPO is not achieved within five years, the timeframe can be extended by another two years. Regulators are also discussing a proposal to limit the shareholding ratio of the major shareholders of the exchange to within 20%, which may lead to adjustments in the transaction terms.

According to Jin Shi reports, U.S. President Trump stated that if Federal Reserve Chairman Powell continues to serve after his term ends, he will be fired. Powell's term as chairman will end on May 15.Trump said, "If he doesn't leave, then I will have to fire him." Currently, Trump's nominated successor, Waller, has not yet been confirmed by the Senate, and Powell may continue to serve in an "acting chairman" capacity. Trump also criticized Powell for not lowering interest rates as he wished and questioned the cost of the Federal Reserve headquarters renovation project.

According to Jinshi reports, U.S. President Trump stated that after Walsh takes office, the Federal Reserve interest rates may decrease.

According to Decrypt, U.S. Senator Thom Tillis stated that the Senate is expected to release a revised draft text on stablecoin yield distribution this week.Currently, there is a disagreement between banks and crypto companies on whether cryptocurrency exchanges should be allowed to pay yields to stablecoin holders through reward programs, and this controversy has stalled the legislative process of the Clarity Act. The White House Council of Economic Advisers recently released a report stating that banning stablecoin yields would have a minimal impact on small banks, only increasing bank lending by 0.02%. However, the American Bankers Association believes this analysis underestimates the risks. Observers point out that if the draft provisions are too strict, it may lead users and liquidity to flow to other jurisdictions that allow yields.

According to monitoring by an on-chain analysis platform, trader 0x8844 sold 1,934 XAUT at a price of $5,037 each one month ago, making a profit of $1.74 million. About two hours ago, the trader again used $9.74 million to buy 4,093 ETH at a price of $2,380 each.

According to Onchainlens monitoring, a certain whale has closed its BTC long position established on March 8 today, with a profit of over 1.88 million dollars from this transaction. The whale then withdrew all its funds from HyperLiquid.

According to on-chain analyst Onchain Lens, a certain whale exchanged 2,831 ETH (approximately 6.67 million USD) for 90.46 WBTC after being dormant for 2.5 months.The whale currently still holds 21,733 ETH, worth approximately 51.46 million USD.

According to on-chain analyst Yu Jin (@EmberCN), a certain whale address purchased 2,698.5 ETH for $2,205 each, using 1,265 XAUt (approximately $5.95 million) 11 hours ago. Subsequently, ETH experienced a rise, and the whale's position gained approximately 7% in unrealized profit within 11 hours, amounting to about $430,000.

According to DL News, several "revenge intermediary" organizations in South Korea that use cryptocurrency as a payment method have been active recently. These organizations take orders via Telegram, providing services such as intimidation, assaults, and even murders disguised as accidents, requiring clients to pay a 50% deposit in USDT, and promising to send action videos recorded by body cameras via Telegram.Although the main suspect was arrested on April 3, related online advertisements continued to be published on April 13. The South Korean police have launched investigations into over 50 related cases this year, arresting about 30 people, and determining that all cases involve cryptocurrency payments.

Cryptocurrency exchange Kraken has stated that it is being extorted by a criminal organization, which threatens to release videos of its internal system access. The company emphasizes that there has been no systemic breach, customer funds remain secure, and it will not pay a ransom to the attackers.Kraken disclosed that the incident stemmed from improper access by personnel related to the customer service team, occurring in two separate incidents, involving limited data access for approximately 2,000 accounts (about 0.02% of total users). The company has identified the individuals involved and terminated their access, while also notifying affected users and strengthening security controls.Kraken's Chief Security Officer Nick Percoco stated that the company is cooperating with law enforcement to investigate and believes it has evidence to track and arrest the individuals involved. The current attack shows a trend of "internal infiltration + social engineering," reflecting the ongoing security challenges faced by the cryptocurrency industry in a high-value asset and complex technological environment.

Investment bank William Blair stated that after a decline of about 26% from its peak in the first quarter, Coinbase has basically completed its de-risking, and the market's expectations for its weak trading volume and revenue have been fully reflected in its stock price.Analysts pointed out that although the trading data in the first quarter was weak, it had limited impact on market sentiment, and the company is enhancing its competitiveness through a "full-service trading platform" that includes derivatives, staking, stock trading, and prediction markets. The report emphasized that the continued growth of the stablecoin USDC is a core positive, with its market share rising to about 27%, a significant increase from around 21% in 2024, and it continues to capture market share from USDT.William Blair believes that the expansion of USDC brings synergistic benefits to Coinbase and its issuer Circle, and is optimistic about the latter's long-term value in stablecoin payment and trading scenarios. At the same time, institutions believe that the probability of a long-term downturn in the cryptocurrency market is low, and Coinbase has "asymmetric upside potential" in the market recovery.

According to Gate market data, U.S. stocks opened with the Dow Jones Industrial Average down 0.5%, the S&P 500 down 0.22%, and the Nasdaq Composite down 0.26%. Goldman Sachs opened down 3.08% after releasing its quarterly earnings report; most large tech stocks fell, with Nvidia down 1.45% and Apple down 0.28%.

According to on-chain analyst Ai Yi (@ai_9684xtpa), a certain whale withdrew 7,100 ETH (approximately 13.87 million USD) from Binance at an average price of 1,954 USD on February 20, and two hours ago transferred 7,050 ETH to a CEX, which would yield a profit of 1.647 million USD if sold.

According to on-chain analyst @ai_9684xtpa, a certain whale built a position in WBTC worth 4.7 million dollars at a cost of 72720.78 dollars.After holding the position for 15 hours, the whale sold off 64.7 WBTC at a price of 72536 dollars, incurring a loss of 12,000 dollars.