AI Summary
Show More
Quickly grasp the article's content and gauge market sentiment in just 30 seconds!
1) Following the recent rsETH incident, Bybit, as the biggest holder and supporter of Mantle, will be supporting the latter's proposal to contribute a loan facility to Aave's coordinated relief effort.
According to Mantle, the loan would form part of a wider coordinated framework, structured to minimize disruption across the broader ecosystem and contribute to a measured path forward for users affected.
----------
2) The Arbitrum Security Council initiated an emergency intervention to freeze 30,766 ETH located at an Arbitrum One address associated with the KelpDAO exploit, acting in coordination with law enforcement insights regarding the exploiter’s identity.
As of April 20 at 11:26pm ET, the assets were successfully transferred into an intermediary frozen wallet, rendering them inaccessible to the KelpDAO exploit- associated address and subject only to future movement through actions governed by Arbitrum governance in coordination with relevant stakeholders.
----------
3) Kelp have published further context on the $292M exploit, stating that on April 18 rsETH was drained from the bridging adapter through a forged cross-chain message after two LayerZero-hosted RPC nodes were compromised and a simultaneous DDoS attack disabled the third node, confirming the attack originated from LayerZero infrastructure rather than Kelp’s systems.
Kelp reported that it mitigated further damage by pausing affected smart contracts across Ethereum mainnet and L2s and blacklisting exploiter-linked wallets, which prevented an additional attempt to drain 40,000 rsETH (approximately $95M).
Kelp have specified that their 1-of-1 DVN configuration was consistent with LayerZero’s documented default for OFT deployments and previously validated during Kelp’s L2 expansion.
----------
4) Volo Protocol, a Sui-based liquid staking platform, has disclosed a security incident wherein an exploit targeting specific smart contracts resulted in the extraction of approximately $3.5M in assets (WBTC, XAUm, USDC) from three isolated vaults, indicating a vault-level vulnerability rather than a protocol-wide issue.
The team has detected anomalous on-chain activity, coordinated with the Sui Foundation and ecosystem partners, and frozen affected vaults to halt contract interactions, while confirming that other vaults (~$28M TVL) remain secure.
----------
5) The Ethereum Foundation has released a recap of its ETH Rangers Program, outlining results from 17 researchers including over $5.8M recovered, 785+ vulnerabilities identified, and 36+ incident responses handled.
The update highlights new technical outputs such as open-source tooling, exploit PoC databases, and threat intelligence frameworks, alongside ecosystem engagement across 800+ teams and 80+ workshops.
----------
6) Mastercard has joined the Blockchain Security Standards Council as a Charter-level member, reinforcing the growing institutional focus on security in blockchain and digital asset infrastructure.
By contributing its expertise in payments security, digital identity, fraud prevention, and cyber resilience, Mastercard will help shape stronger industry standards for trust, interoperability, and consumer protection.
----------
7) Japan Securities Clearing Corporation (JSCC), the central clearing house owned by Japan Exchange Group, has launched a blockchain-based collateral trial with Mizuho Financial Group, Nomura Holdings and Digital Asset Holdings. The project will test the transfer and management of Japanese government bonds on the Canton Network.
The focus is on enabling real-time collateral movement while remaining within existing regulatory constraints. The broader significance is the digitisation of high-quality collateral – if sovereign bonds can move more efficiently between institutions, settlement friction could fall.
----------
8) Michael Saylor’s Strategy Inc, the largest Bitcoin digital asset treasury company in the world, announced on Monday that it had bought $2.54B worth of bitcoins over the last seven days — its largest purchase for the currency since November 2024.
----------
9) Ripple has outlined a multi-phase roadmap to prepare XRPL for a post-quantum environment on their official page, with full readiness targeted by 2028.
The near-term focus is on testing quantum-resistant cryptography, assessing the performance impact of larger keys and signatures, and introducing hybrid models that can operate alongside existing systems before any full transition.
----------
10) The CLARITY bill on the structure of the crypto market in the USA is being postponed – the vote may be rescheduled for May.
Senator Tom Tillis stated that the banking committee will not have time to review and put the document to a vote in April.
The parties need additional time to reach a compromise on the profitability of stablecoins.
----------
11) RedotPay, a global stablecoin-based payments fintech, has entered a strategic partnership with Sui to integrate SUI and native USDC-Sui into its payments stack, enabling users across 100+ countries to access SUI-based stablecoin-denominated transactions and global payout functionality via the RedotPay app.
RedotPay is also extending its multi-currency wallet and card infrastructure, supported by Apple Pay and Google Pay, by leveraging Sui’s layer 1 blockchain to facilitate low-fee transfers, near-instant finality, and integrated fiat on/off-ramps for real-world merchant payments.
----------
12) Singapore-based Cobo has launched an agentic wallet for AI-led onchain execution, with built-in guardrails aimed at improving control and security.
The product supports more than 80 blockchains, including Ethereum, Base, Arbitrum, Optimism, Polygon and Solana, and uses a “Pact” mechanism to define execution limits and termination conditions for each task.
Cobo said the wallet also incorporates multi-party computation, positioning the product as a more secure framework for AI agents handling real onchain activity.
----------
13) South Korea’s Ministry of Economy and Finance is launching a pilot using tokenized deposits to handle government spending, with rollout planned for the fourth quarter of 2026 starting in Sejong City.
----------
14) Charles Schwab announced Schwab Crypto™ last Thursday, a spot crypto trading service that it will roll out to clients in the upcoming weeks.
The platform will provide a direct way of trading BTC and ETH, as well as educational content around crypto assets. Head of Retail Investing at the firm said, “With Schwab Crypto, clients who want direct access to the asset class can trade it alongside their other investments, while benefiting from the service, education, and research they expect from us.”
----------
15) Flow Capital Partners is set to tokenise its $150M private credit fund through DigiFT, marking another step in the continued institutionalisation of real-world assets on public blockchain infrastructure.
According to Bloomberg, the Hong Kong-based asset manager plans to bring the fund onchain by the end of April and raise a further $30M in tokenised shares by year-end, with ambitions to scale the strategy to $250M by the end of 2026.
----------
CHIP is the governance token of USD.AI, a decentralised protocol focused on financing AI compute infrastructure through GPU-backed lending.
Rather than serving as a conventional payment token, CHIP underpins an on-chain financing system designed to channel capital into a fast-growing segment of the digital economy: artificial intelligence infrastructure.
The USD.AI ecosystem consists of three core components:
The protocol is built around a clear market need: AI infrastructure requires significant upfront capital, while traditional financing channels are often slow, expensive, and difficult to scale.
USD.AI aims to address this by creating a more standardised, crypto-native framework for infrastructure credit, allowing users to gain exposure to AI-related lending through a productised on-chain structure rather than through direct loan origination or underwriting.
Yield is intended to be generated from loans secured against GPU and related infrastructure assets, as well as from returns on undeployed reserve capital.
What differentiates CHIP is its exposure to a tangible economic activity rather than a purely narrative-driven theme.
By linking the protocol to income-generating physical infrastructure, USD.AI presents a more concrete use case than many projects marketed under the AI token category.
At the same time, this model carries a more complex risk profile than traditional stablecoin structures, as outcomes depend on the quality, liquidity, and valuation stability of the underlying collateral, as well as on disciplined underwriting and execution.
Early market interest has been supported by strong trading performance, major exchange listings, and investor demand for AI-linked digital assets, although near-term price action is still likely to be influenced more by sentiment, liquidity, and speculation than by fully established fundamentals.
Bybit listed CHIP on the Spot trading platform on Apr 21, 2026, while also converting its Pre-Market Perpetual Contracts to standard perps.