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Early paper | Drift received support from Tether and others for the proposed 147.5 million-dollar recovery pool; C.I.S.E.S.E.D. services for the encryption of goods; Morgan Stanley made asset monetization a growth priority

2026/04/17 12:25
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Early paper | Drift received support from Tether and others for the proposed 147.5 million-dollar recovery pool; C.I.S.E.S.E.D. services for the encryption of goods; Morgan Stanley made asset monetization a growth priority

Photo by ChainCatcher


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What's important about the past 24 hours

ELINA: After 2019, I'm not deeply involved in the market business, and I can't manage the project again

ChainCatcher, in a letter from Irihua on platform X, states that it is important to recognize ourselves as ordinary, whether in the classical industry or in the currency ring, that we have focused on investing in Liquid Capital& the investment bank Liquid Digital and the secondary trade Trend Research& and Trend Investment (the classical) that, while operating projects and exchanges are very profitable, there is real limited energy and only envy and jealousy。

We hatched a marketer in 2018, because the team left money to itself, lost money to us, was hurt, was not deeply involved in the market since we quit in 2019, and most of them saw a good trading team making some investments. Conspiracy theories are always the most popular, but I am not a hexagonal fighter, and the exchange is very clear about where I can and will be able to manage the project。

Fortune magazine: encrypted VC asset management scale down significantly: Paradigm, a16z crypto

ChainCatcher reported that, in 2025, when the encrypted market was depressed and the proceeds distributed to investors, the portfolio value of encrypted venture companies, such as Paradigm and a16z crypto, was significantly reduced。

According to data filed by the United States Securities and Exchange Commission (SEC), the total management of four encrypted funds under the flag of a16z crypto (AUM) fell significantly from 2024 to 2025 by almost 40 per cent to $9.5 billion. This is partly due to the fact that the Agency started to return capital from early funds to investors at the market height of 2025, with its first encrypted fund, the net DPI (allocated to paid capital) up to 5.4。

Multicoin Capital managed more than once, down to about $2.7 billion. Paradigm holds a small drop of about 6%. At the same time, the total size of the a16z crypto parent company, Andressen Horowitz, is over $100 billion。

The report notes that the shrinking size of asset management partly reflects the decline in holding value as a result of falling markets, as well as the normal exit of VC and the return of funds to limited partners (LPs). Some institutions, such as Haun Ventures, have grown by more than 30 per cent to about $2.5 billion。

Paradigm is currently seeking to raise $1.5 billion in new funds, a16z crypto is also raising a fifth fund of $2 billion。

Arthur Hayes: The Fund is in a state of avoidance, with only a small increase in Hyperliquid

ChainCatcher NewsIn its latest article, the BitMEX co-founder Arthur Hayes states that Maelstrom is currently in “No Trade Zone” and that trading operations are largely stopped in the first quarter, with the exception of a small increase in Hyperliquid multiple positions。

Hayes believes that the current market faces two key variables: first, that the massive spread of AI agents will destroy the flexible labour market in the West, leading to a wave of unemployment and deflationary financial collapse of knowledge workers; and second, that the Trump government-led war against Iran has lasted seven weeks, and that shipping in the Straits of Hormuz is under serious threat。

BITCOIN CORE DEVELOPER: I'D RATHER FREEZE 5.6 MILLION BTCS THAN FALL INTO QUANTUM HACKER HANDS

ChainCatcher, Bitcoin's core developer Jameson Lopp says that he prefers to “freeze” some 5.6 million long-slept BTCs from the network, rather than let their victims get them, compared to future quantum count attacks. These bitcoins, which have remained unmoved for more than 10 years, may have been permanently lost, valued at some $42 billion at current prices. If a future quantum break leads to the breaking of the old address's private key, this part of the asset may be retransferred, leading to sharp market fluctuations and even a crisis of confidence。

ALTHOUGH THE BIP-361 PROPOSAL HAS RECENTLY BEEN PUT FORWARD BY THE COMMUNITY, IT IS STILL AT AN EARLY STAGE AND INFORMALLY PROMOTES THE PROGRAMME, MORE LIKE A PRE-SET FOR DEALING WITH “EXTREME RISKS”。

CoW Swap released a statement of attack: domain name attacked by social workers, now taking control of the cow.fi domain name

ChainCatcher NewsAccording to CoW Swap, it has recovered control of the cow.fi domain name and is in the process of transitioning back to its original domain name for a period of time when it is operational。

Officially, on April 14, the assailants obtained control of the cow.fi domain name by fraudulent documents deceiving the DNS Registrar; the assailants deployed a highly imitating real fishing website, which was implemented in two stages: first, by inducing the user to sign a malicious transaction through a wallet stealer, and then by stealing notes and passwords through a fake wallet bullet window; and this attack was directed at the domain name registerer and was not leaking CoW Swap ' s own infrastructure or private key. Affected users should use tools such as Revoke.cash to revoke all authorizations and consider transferring funds to new wallets。

Kalshi proposed the introduction of a “parent portal” to strengthen restrictions on minors' use

ChainCatcher, reported by CointelegraphThe forecast market platform, Kalshi Chief Executive Officer Tarek Mansour, indicated that the company plans to introduce a “parent portal” that allows parents to submit identity information to verify whether their children use the platform by borrowing their identity。

In addition, Kalshi will introduce a self-censorship validation mechanism to further identify users through facial recognition in order to strengthen age limits and compliance management and prevent minors from using related services。

BitMEX Research proposes a new mechanism to mitigate the effects of the Bitcoin freeze associated with quantum calculations

ChainCatcher, according to official sources, BitMEX Research published a recent research article suggesting that a bitcoin network could use a soft fork alternative to the “direct freeze” to reduce disputes and increase flexibility in response to the risk that future quantum computers might break elliptical curve signatures。

The programme revolves around the freezing of “quant-vulnerable funds”, but recommends avoiding the immediate freezing of all relevant assets in the absence of evidence, but rather the gradual implementation of security strategies through a verifiable condition trigger mechanism. At the heart of the proposal was the creation of a “sign bank”, which included a special address created using the “no accident” to demonstrate that no one had access to its private key. If the address is passively expensed, it will be seen as chain evidence that quantum computing capacity is real, thereby triggering an immediate and complete freeze on quantum vulnerable assets。

AT THE SAME TIME, THE FUND COULD ATTRACT FUNDS THROUGH MULTIPLE SIGNATURE STRUCTURES AS A “QUANTIFICATION REWARD” TO MOTIVATE POTENTIAL ATTACKERS TO EXPOSE THEIR CAPABILITIES. IT WAS ALSO MENTIONED THAT THERE WAS A BIP-361 PROPOSAL TO PROMOTE A PHASED BAN ON THE USE OF OLD SIGNATURE SYSTEMS AND THE EVENTUAL FREEZING OF RISK ASSETS, BUT THAT THE PROGRAMME WAS CONTROVERSIAL BECAUSE IT INVOLVED “FORCED FREEZING”。

The proposed new Signal Trigger + Secure Window mechanism is intended to replace a fixed-time freeze path and reduce potential systemic shocks while retaining the bitcoin resistance review feature, but also raises the issue of balancing complexity with implementation risk。

Morgan Stanleybitcoin, ETF listed

ChainCatcher NewsMorgan Stanley's spot is listed on the Bitcoin ETF (MSBT) for only six trading days, and the total net inflow has exceeded the WisdomTree Bitcoin Fund (WBTC) accumulated since its listing in January 2024。

MSBT received $19.3 million on Wednesdays alone, with cumulative net inflows amounting to $103 million, which is over $86 million from WBTC. MSBT was registered on 8 April at 0.14 per cent of the market floor rate and is expected to catch up with Investco Galaxy Bitcoin ETF ($245 million), Valkyrie Bitcoin ETF ($326 million) and Franklin Bitcoin ETF ($375 million) if kinetic energy continues。

The current spot bitcoin ETF market is headed by BlackRock IBIT with $64.3 billion net inflows, followed by Fieldy FBTC with $10.9 billion. In addition, Goldman Sachs submitted an application to the SEC on Tuesday to introduce its own bitcoin peg ETF, indicating that more asset management companies were accelerating the deployment of bitcoin ETF markets。

Young Weeda Wong In-hoon: Anthropic and OpenAi are about to come on the market, and Young Weeda or no more

ChainCatcher NewsIn his recent Dwarkesh podcast show, CEO Wong In-hoon stated that companies had chosen to invest extensively in a large number of technology companies rather than select a small number of winners for two reasons: the choice of winners is not the responsibility of the British, and the company’s own history is a lesson。

Wong In-hoon pointed out that Yin Weidar, when it was founded, had 60 3D graphics companies and that if he was to predict who would win, it was likely that Yin Weidar would be at the top of the worst-looking list. At present, as the highest-market company in the world, Weida has a wide-ranging distribution in the fields of AI ecology, biotechnologies, robots and autopilots, holding shares in listed companies such as CoreWeave, Intel, Synopsys and Nokia。

In the area of large language models, in November of last year, we promised to invest up to $10 billion in Anthropic, and in February this year we announced $30 billion in investment in OpenAI. Huang In-hoon stated at the March meeting that these might be the last round of investments by In-hoon as the two companies were about to be listed。

Circle CEO: There is a “great opportunity” for the renminbi to stabilize the currency, or to launch it in China within 3-5 years

ChainCatcher reports that, in an interview with Reuters, Circle CEO Jeremy Allaire stated that there is “a great opportunity” for the renminbi to stabilize, which would be an important technical tool for the internationalization of the currency if the Chinese authorities wished to increase its global competitiveness, and predicted that China might introduce the renminbi within the next three to five years。

It is worth noting that in February 2026, the People ' s Bank of China and a multi-sectoral group expressly prohibited the issuance of the renminbi abroad without regulatory authorization. At the same time, Hong Kong’s regulatory stance is quite opposite, and last week the Hong Kong Financial Authority issued the first stabilization currency licence plates to HSBC Bank and Anchorpoint Financial (Bank of Scum, Animoca Brands and Hong Kong Telecommunications Corporation)。

Drift: proposed to establish a $147.5 million recovery pool, supported by Tether and others

ChainCatcher News, Drift posted on the Internet that Drift Protocol has received support from Tether and other partners, of which Tether has proposed $127.5 million and other partners $20 million to support user recovery。

The support programme includes $100 million in income-linked credit lines, ecosystem grants and loans to market vendors. Drift will establish a dedicated user recovery pool designed to address the $295 million outstanding user loss over time as transaction revenue increases. In addition, Drift will issue an independent recovery token to the affected users, representing claims to the restoration pool and transferable. Drift is currently in the process of restarting the protocol, has engaged Ottersec and Asymetric to perform audits and has relocated the settlement layer from USDC to USDT. The previous attacks had resulted in the theft of assets valued at approximately $295 million, without any impact on the assets of the Insurance Fund。

Josh Stark, a core member of the Etherwood Foundation, will leave, has led many major upgrades like The Merge

ChainCatcher reported that Josh Stark, a core member of the EF Foundation, had announced his departure for five years and would officially resign at the end of the month. Stark joined the ETA Foundation in 2019, initially as a special project team, and was later promoted to leadership, working with senior levels such as EF President Aya Miyaguchi, ETA founder Vitalik Buterin and co-Executive Director Hsiao-Wei Wang, Bastian Aue。

He is one of the most visible members of the Foundation's external profile and has dominated many major advances in the Ethera, including the “The Merge” upgrade, which was switched from proof of workload to proof of entitlement, and the subsequent upgrades of Dencun, Fusaka, Pectra, etc. During the high-level restructuring of the Foundation last year, he was appointed as “co-manager” of the EF Board of Directors and recently as co-chair of the “Trillions of Dollars of Security” initiative。

Last month, Stark, together with Josh Rudolf and Julian Ma, co-authored an ETA strategic blog article on the latest direction of the expansion of the ETA and its relationship to the Layer 2 ecology. Stark says, "I haven't planned my future yet, and I just want to rest and spend some time with my family and friends." The departure took place in the context of the ongoing transformation of the Etherfri Foundation。

After a major leadership change last year, the Foundation has refocused its strategic focus on the expansion of the cypherpunk core of cypherpunk values, and Tomasz K. Starinczak resigned as Co-Executive Director for less than a year at the end of February this year. On the same day, Trent Van Epps also announced his departure from the EF and his full-time involvement in the independent funding organization Protocol Guild, the core developer of the Ether Mill。

Morgan Stanley put asset monetization at the top of his next growth priorities

ChainCatcher, according to FinanceFeeds, Morgan Stanley says that real world asset monetization has become “the next major step” in its global operations and has been incorporated into its strategic focus on upgrading traditional financial infrastructure with block chains。

According to the agency, plans are under way to integrate traditional and digital assets in a regulated environment, to promote close real-time chain settlements, and to launch agency-oriented digital wallets in late 2026 to support traditional investment products such as monetization and encrypted assets such as Bitcoin, Etheum and Solana. At the same time, Morgan Stanley is moving forward with the monetization of private equity secondary markets and chain and bottom clearing processes。

C.I.C. announced the launch of the encryption trading service to support the direct trade between Bitcoin and the ETA

ChainCatcher, according to FinanceFeeds, Morgan Stanley says that real world asset monetization has become “the next major step” in its global operations and has been incorporated into its strategic focus on upgrading traditional financial infrastructure with block chains。

According to the agency, plans are under way to integrate traditional and digital assets in a regulated environment, to promote close real-time chain settlements, and to launch agency-oriented digital wallets in late 2026 to support traditional investment products such as monetization and encrypted assets such as Bitcoin, Etheum and Solana. At the same time, Morgan Stanley is moving forward with the monetization of private equity secondary markets and chain and bottom clearing processes。

GoPlus:ListaDAO Mobile Depository was attacked and the attackers used logical loopholes to steal funds

ChainCatcher, GoPlus Security, published an analysis that the Liquid StakingVault contract was attacked because of business logic deficiencies. The aggressor triggers the Dividend contract ' s share function when transferring a specific token, thereby affecting the incentive-receiving logic of the bond vault and ultimately stealing a large amount of assets from the contract。

GoPlus Security warns that this logical loophole exists in both Liquid Staking Vault and Dividend contracts, and that there is a high risk that any fork or reuse will be realized. Developers and projects are strongly advised to review and remedy gaps accordingly. Smart contract security should not depend on “one-time audits”。

Meme Hot List

According to Meme Currency Tracking and Analysis PlatformGMGNAs of April 17th, 0900

The top five of the 24h ETH popular tokens were: HEX, SHIB, LINK, PEPE, UNI

In the past 24h Solana top five hot coins are: swarms, $RIF, Punch, $URO, net

Former 24h Base top five in order: SKITTEN, PEPE, 9MM, MINKY, BASED

What are the good articles worth reading in the past 24 hours

A book that understands the key question of monetization

At the heart of the monetization is the elimination of all friction。

Most people hear "coinization," and all that comes out of their minds is speculative digital coins. They were completely wrong about the focus。

The true story lies in settlement speed, 7x24 hours of all-weather mobility, fragmentation ownership and the slow demise of financial intermediaries: These seemingly dry infrastructure changes are the real force for reshaping markets。

The strange thing about the mechanism, the starting point for the cattle market: selling the air is the puzzle that will inspire the next round of the cattle market

For 300 years, there has been a pattern that has been repeatedly tested in the financial markets: the cattle market has never been set on fire by a narrative, but by the upgrading of trading mechanisms. WhateverICO♪ For eternity ♪AMMI don't knowDeFiI don't knowNFT.It's all mechanism-driven games that allow the flow of money. It is the upgrading of mechanisms that brings prosperity。

Looking back at the starting point of each big thing, you'll find that they're not in common"There's a good story"But.."Market participants suddenly acquired a new way of playing"I don't know。

It's not a narrative, it's an evolution of every trading mechanism

This rule, from Wall Street to Currency, from spot to contract, fromDeFi summerPresentHyperliquidNever expired。

You can short itYou can be emptykaThis is the next round of the Yamashita Bulls。

The end of the encrypted premium? The market logic shifts in the aftermath of Gemini's listing

In the second half of 2025, the encryption industry launched a wave of public booms, with Bullish and Gemini successively accessing the capital market, with a market value of billions of dollars. Markets generally believe that listing is the historic declaration of an encrypted exchange out of its barbarity and out of the mainstream, yet in just six months, reality offers a very different answer。

From a rise of more than 83 per cent in the first day of Bullish's listing, Gemini attracted 20 times the oversubscribement, to today's collapse in stock prices, layoffs, and peak compliance costs, this is not just an exchange's dilemma, but it points to a more fundamental problem: When the extrajudicial dividends of encrypted assets disappear, how much is left of the excess premium on traditional finance

2026 Status report on investor relations and currency transparency in the encryption industry

Last month, we released " Is Investor Relations Important in Encrypted Currency " , a follow-up report. Based on the initial 53 protocol data sets, we have expanded them to more than 150 agreements, covering all major tracks: DEX, borrowing, renewal contracts, pledge of a mobile nature, L1, L2, bridge, Depin, AI, stability, infrastructure and CEX tokens. The total diluted value of the agreement (FDV) ranged from $40 million to $45 billion。

We checked 15 binary verifiable indicators for each agreement: Did the agreement disclose the information? Yes/No. Each data point was cross-checked through open sources: Artemis, Tokenterminal, Blockworks, Dune, DefiLlama。

We found the following:

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