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BTC $79,128.00 -2.67%
ETH $2,227.50 -2.57%
BNB $673.36 -1.44%
XRP $1.44 -3.87%
SOL $89.28 -3.21%
TRX $0.3520 -0.48%
DOGE $0.1130 -2.87%
ADA $0.2617 -3.64%
BCH $427.20 -2.22%
LINK $10.08 -3.97%
HYPE $44.15 -1.89%
AAVE $93.24 -5.44%
SUI $1.10 -7.73%
XLM $0.1553 -4.61%
ZEC $517.57 -8.04%

status

The consultation on the draft "Financial Law" has ended, with very little involvement regarding the legal status of digital currencies and the regulatory boundaries of crypto assets

According to Caixin, the one-month public consultation for the "Financial Law of the People's Republic of China (Draft)" ended today (April 19). This is the first overarching law in China and the world with "finance" in its name. The expansion of "quasi-judicial powers" for financial regulation is a topic of great concern in the market.According to Article 55 and related provisions, financial regulatory authorities have the right to access and copy property rights information, communication records, and transaction records of relevant entities and individuals when investigating financial violations. They can directly freeze or seal assets if there is evidence suggesting the transfer or concealment of illegal funds and securities. They can even decide that individuals suspected of violations cannot leave the country during the investigation.In addition, Zeng Gang, chief expert and director of the Shanghai Financial and Development Laboratory, believes that the "Financial Law" should also strengthen its focus and coverage on emerging financial formats. Topics such as AI-driven financial decision-making, the legal status of digital currencies, and the regulatory boundaries of crypto assets have sparked widespread controversy globally, but the draft addresses them very little. How to maintain a dynamic balance between lawful regulation and inclusive innovation is a problem left to be solved by legislation.

Hyperliquid clarifies false accusations: the platform's status is transparently verifiable, will gradually decentralize, and ultimately be fully open source

Hyperliquid officially clarifies a recent article that made false accusations against it, claiming that Hyperliquid has issues with solvency, integrity, and transparency. The responses to the 10 specific allegations are as follows:System under-collateralized by $362 million: False. The author of the article ignored HyperEVM USDC (parallel to the Arbitrum bridge), with the current total USDC amount being $4.351 billion.Manipulating trading volume through TestnetSetYesterdayUserVlm: False. This is only a testnet feature and cannot be called on the mainnet.Certain users have privileges, such as fee waivers or manipulation affecting airdrops: False. All fees, balances, and transactions are visible on-chain, with no distortion mechanisms.CoreWriter "God mode" can mint, transfer funds, etc.: False. This is a way to send HyperCore operations to HyperEVM smart contracts, with no described privileges.Governance can freeze the chain, with no revocation function: Misunderstanding. Freezing is used for network upgrades, similar to hard forks on other chains. During the POPCAT event in November 2025, L1 was not frozen, only the Arbitrum bridge was automatically locked as a security measure.A single private key can instantly set oracle prices: Misunderstanding. The HIP-3 oracle is configured by the deployer and can use MPC, etc. The perpetual contracts operated by validators use a weighted median price, with no delays to ensure security.Eight undisclosed addresses control all transaction submissions: False. Some transactions have been sent directly by validators, and future upgrades will include MEV and anti-censorship mechanisms.The liquidation cartel has an unfair advantage: Misunderstanding. Only HLP can back liquidations, and deposits are permissionless, with most liquidations processed through the order book.Hidden lending protocols involving over $1 million in funds: False. Portfolio margin, lending, and HLP are publicly announced pre-alpha versions, with documentation on file.ModifyNonCirculatingSupply can change token supply: False. The HIP-1 token supply is fixed, and this function is only for display purposes, not affecting execution.
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