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Tiger Research's Research Director Ryan Yoon stated that the U.S. Securities and Exchange Commission (SEC) is preparing to launch an "innovation exemption" framework that allows third parties to tokenize listed stocks without the issuer's approval.Ryan Yoon warned that this move could cause two major structural shocks to traditional exchanges: first, liquidity fragmentation, as funds will disperse from centralized exchanges to multiple blockchain platforms; second, revenue fragmentation, as trading fees and intermediary income may flow to overseas or competing platforms, threatening the competitiveness of U.S. finance.He believes that traditional exchanges are like monopolistic superstores, while tokenized stocks are akin to allowing anyone to set up a street stall, which will significantly change the concentration of capital markets. The SEC is advancing this framework at this time to keep global financial income within the domestic regulatory scope.

The Chief Information Security Officer of Slow Fog, 23pds, disclosed that a privilege escalation vulnerability named Dirty Frag has been exposed in Linux systems, with complete details and exploit code now public. This vulnerability allows any local low-privilege user to directly obtain root privileges on almost all mainstream Linux distributions. It is classified as a deterministic logic flaw, and the attack does not rely on complex race conditions, resulting in a very high success rate without causing kernel crashes, posing significant danger. Linux users are advised to upgrade their systems promptly.

According to The Block, despite the renewed tensions between the United States and Iran disrupting expectations in the Strait of Hormuz, leading to fluctuations in the oil, stock, and cryptocurrency markets, Bitcoin stabilized around $75,200 on Monday.Analysts stated that the net inflow into U.S. spot Bitcoin ETFs last week was $996.4 million, marking the strongest weekly performance since mid-January, with institutional demand providing support for the market. However, the current market remains in a "fragile balance," with stablecoin balances continuing to grow, indicating that liquidity in the crypto market is more rotating internally rather than flowing out.

Pablo Hernandez de Cos, General Manager of the Bank for International Settlements (BIS), stated that global coordination on stablecoin regulation is crucial to prevent severe market fragmentation; otherwise, regulatory differences across jurisdictions could lead to regulatory arbitrage.He pointed out that stablecoins are typically pegged to the US dollar at a 1:1 ratio, which could undermine monetary and fiscal policy, trigger pressures in financial markets, and hinder efforts to combat illegal financing. Currently, the two major stablecoins issued by Tether and Circle account for about 85% of the global circulation of stablecoins, which is approximately $315 billion. He also mentioned that these two types of stablecoins are closer to securities rather than currencies in terms of redemption friction and operate more like ETFs.

According to CCTV News, on April 8 local time, U.S. Vice President Pence stated during an event in Hungary that the ceasefire reached between the U.S. and Iran is a "fragile truce." He did not disclose more details, only stating that the agreement includes a ceasefire, advancing negotiations, and reopening the Strait of Hormuz. Pence mentioned that President Trump has asked the U.S. representative responsible for negotiations with Iran to engage in discussions "in good faith," but also stated that Trump is "eager to see progress."He also stated that the U.S. is prepared to use "extraordinary economic leverage," but Trump has instructed the U.S. side to "not use these means for the time being." Pence said that if Iran negotiates "in good faith," there is a possibility for the U.S. to reach an agreement, but "how the negotiations ultimately proceed depends on Iran."

According to the UAE's state news agency, the relevant authorities handled an incident involving shrapnel falling in a residential area of Abu Dhabi, which resulted in some material damage and the death of an Asian national.

Bitget launches the "New Year Collect Nine Blessings" event. During the event, users who complete registration will randomly receive an airdrop reward of 1 to 188 USDT, with a limited quota of 5,000 spots. Participating users can earn "Nine Blessing Fragments" after completing designated tasks such as achieving a contract trading volume of no less than 1 USDT. The fragments are randomly distributed and categorized into different rarities: common, ordinary, rare, epic, and legendary. Users can gift fragments to friends, with a limit of 20 exchanges per account. Collecting fragments can unlock rewards of 1,888 USDT and physical gifts such as Hermès scarves, Maotai from the Year of the Horse, and Zhou Dasheng gold pieces.In addition, users who collect all 9 "New Year Nine Blessings" fragments can participate in sharing a prize pool of 100,000 USDT, with a guaranteed minimum reward of 8,888 USDT per user. The event is now live on the official platform, and users must click "Join Now" to complete registration before participating. This event ends on February 24 at 10:00 (UTC+8).

According to Arkham data, at 00:52, 37.2326 million TON (worth approximately 60.31 million USD) was transferred from Fragment to Telegram.

According to TheDefiant, a recent study by the data analysis platform RWAio found that the fragmentation of blockchain networks causes a value loss of $600 million to $1.3 billion annually in the RWA market. Currently, the total value of RWA in circulation (including private credit, U.S. Treasury bonds, and commodities) has exceeded $36 billion.RWAio discovered that the same asset often trades at different prices on different blockchains, with price discrepancies ranging from 1% to 3%. Additionally, due to fees and slippage, transferring assets between different chains can result in investors losing 2% to 5% on each transaction. Currently, Ethereum holds 52% of all RWA tokenized value, while Polygon holds 62% of RWA tokenized bonds.According to forecasts, if the market size of tokenized assets reaches $16 trillion to $30 trillion by 2030, annual losses could amount to $30 billion to $75 billion.

The Italian Ministry of Economy announced that it has initiated an "in-depth review" of the current risk prevention mechanisms related to cryptocurrency investments, aiming to assess whether the protections for retail investors in the process of directly or indirectly investing in crypto assets are adequate.This decision was made by the Macroprudential Policy Committee, which consists of the Bank of Italy, the market regulator Consob, the insurance and pension regulator, and the Ministry of Finance. Regulators have warned that as crypto assets become increasingly intertwined with the traditional financial system and the issue of fragmented international regulation intensifies, their potential risks may further rise. Currently, the overall economic and financial situation in Italy remains stable, but it faces high global uncertainty.

Wintermute released a market report indicating that the expectations of interest rate hikes by the Bank of Japan have completely erased last week's stability and triggered widespread deleveraging behavior. The market structure has been cleanly reset: leverage has significantly decreased, liquidity has returned to neutral, and spot participation has notably increased. Everything is now trading according to macro logic, but the major currency pairs no longer seem as fragile.From the perspective of market structure, the situation is actually improving: the basis has fallen to a cyclical low, with Bitcoin's 90-day annualized basis close to 4% to 5%, and Ethereum's close to 3% to 4%, reflecting a sustained increase in leveraged long positions. The total open interest of perpetual contracts has decreased from about $230 billion in early October to about $135 billion currently, clearing a significant amount of excess leverage and reducing the likelihood of further mechanical liquidations. The proportion of spot trading volume has increased, and considering the impact of the Thanksgiving holiday, the depth of spot supply is also better than expected. Lower leverage, negative funding, and healthier spot participation are typically what is needed before the market re-establishes itself after macroeconomic stability.

Tether CEO Paolo Ardoino responded to S&P's latest rating of Tether by stating, "We take pride in being hated by you."Paolo Ardoino pointed out that the traditional rating system has long led investors towards "investment-grade" institutions that ultimately collapse, raising global regulatory concerns about the independence of rating agencies. He stated that the traditional financial system is unwilling to see any company break free from its "failing gravity," but Tether has built the industry's first over-capitalized, toxic asset-free, and consistently highly profitable company, proving that the fragility of the old system is making the "emperor's new clothes" rulers uneasy.

Analysts say that Bitcoin has recovered from the massive liquidation and sell-off triggered earlier this week, currently trading at around $87,645, up 1.8% in the past 24 hours. Other cryptocurrencies have also rebounded, with ETH rising 0.5% to $2,834, XRP up 2.65% to $2.09, and Solana increasing 2.5% to $133. The entire crypto market has risen 1% in the past 24 hours.Analysts describe this price rebound as a "post-washout bounce," but note that it lacks sustained momentum. Vincent Liu, Chief Information Officer of Kronos Research, stated that Bitcoin's current trend resembles a "post-washout bounce," with shallow liquidity, fragmented trading flows, and buyers seeking stability while long-term holders accumulate. He expects Bitcoin to consolidate within a narrow range of $85,000 to $90,000, as liquidity remains thin and stop-loss orders are being cleared.BTC Markets crypto analyst Rachael Lucas mentioned that Bitcoin is consolidating after experiencing the deepest pullback of this cycle, and maintaining above $86,000 in the short term is positive, but the market structure remains "fragile." Lucas pointed out that if Bitcoin can hold above $88,000 consistently, it will confirm the bottoming process; conversely, failing to do so poses a risk of dropping to $80,000. Lucas stated that short-term traders remain cautious and are driven by capital flows, closely monitoring funding rates and liquidation levels for signs of stability. For institutions, it is currently a "rotation phase rather than an exit," and ETF outflows reflect risk management rather than abandonment.

ChainCatcher news, according to BitcoinTreasuries.NET monitoring, the Swedish listed company Fragbite Group (stock code: FRAG.ST) has purchased an additional 4 bitcoins, bringing the company's total bitcoin holdings to 28.88 bitcoins.