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On April 13, Circle CEO Jeremy Allaire stated that the company would not freeze wallet assets unrelated to legal proceedings, in response to recent controversies surrounding the Drift attack incident. Previously, the DeFi protocol Drift suffered an attack amounting to approximately $280 million, with some funds reportedly transferred via cross-chain to around $230 million USDC, sparking discussions on whether related assets should be frozen. Allaire pointed out that such actions involve a 'moral dilemma,' but without legal grounds, Circle will not proactively freeze the related funds.

[Circle CEO Responds to Controversy: No Freezing of USDC Related to Drift Attack as It Does Not Involve Legal Proceedings]On April 13, Circle CEO Jeremy Allaire stated that the company would not freeze wallet assets unrelated to legal proceedings, in response to recent controversies surrounding the Drift attack incident. Previously, the DeFi protocol Drift suffered an attack amounting to approximately $280 million, with some funds reportedly transferred via cross-chain to around $230 million USDC, sparking discussions on whether related assets should be frozen. Allaire pointed out that such actions involve a 'moral dilemma,' but without legal grounds, Circle will not proactively freeze the related funds.

Circle CEO Responds to Controversy: No Freezing of USDC Related to Drift Attack as It Does Not Involve Legal Proceedings

On April 13, The Block reported that Circle CEO Jeremy Allaire stated that Circle would not freeze USDC wallets unrelated to legal proceedings. During a press conference in Seoul, South Korea, on Monday, Allaire addressed ongoing online criticism regarding whether the company should freeze USDC funds in light of a hacking incident. This controversy became more pronounced earlier this month when the decentralized finance protocol Drift suffered an attack amounting to approximately $280 million, which is believed to be linked to a six-month-long attack involving complex social engineering tactics, potentially involving a North Korean hacker group. Notable on-chain analysts, including investigator ZachXBT, publicly criticized Circle for not freezing approximately $230 million in USDC funds, which were reportedly transferred from Solana to Ethereum via Circle's cross-chain transfer protocol.

[Circle CEO Responds to Controversy: USDC Not Frozen Due to 'Moral Dilemma']On April 13, The Block reported that Circle CEO Jeremy Allaire stated that Circle would not freeze USDC wallets unrelated to legal proceedings. During a press conference in Seoul, South Korea, on Monday, Allaire addressed ongoing online criticism regarding whether the company should freeze USDC funds in light of a hacking incident. This controversy became more pronounced earlier this month when the decentralized finance protocol Drift suffered an attack amounting to approximately $280 million, which is believed to be linked to a six-month-long attack involving complex social engineering tactics, potentially involving a North Korean hacker group. Notable on-chain analysts, including investigator ZachXBT, publicly criticized Circle for not freezing approximately $230 million in USDC funds, which were reportedly transferred from Solana to Ethereum via Circle's cross-chain transfer protocol.

Circle CEO Responds to Controversy: USDC Not Frozen Due to 'Moral Dilemma'

On April 13, according to CCTV News, Iran submitted a legal document at the International Maritime Organization's Legal Committee meeting, expressing its position regarding the outcomes of a previous special council meeting. Iran denied the claims of a 'blockade of the Strait of Hormuz' and pointed out that the fundamental reason for the deteriorating maritime security situation in the Persian Gulf is external military actions. It emphasized that any so-called 'safe maritime corridor' arrangements must receive Iran's consent. In response to concerns about navigation in the Strait of Hormuz, Iran clearly stated in the document that the strait remains open to international navigation, but the associated risks have significantly increased due to the current deteriorating security environment. Regarding suggestions from some countries to establish a 'safe maritime corridor,' Iran stressed that as a coastal state of the Strait of Hormuz, it has the legal right to ensure the safety and management of navigation in the relevant waters. Any shipping arrangements must be conducted with full coordination and consent from the relevant Iranian authorities; otherwise, it would constitute interference with the jurisdiction of the coastal state.

[Iran Submits Legal Document to IMO, Denies 'Blockade of Strait of Hormuz' Claims]On April 13, according to CCTV News, Iran submitted a legal document at the International Maritime Organization's Legal Committee meeting, expressing its position regarding the outcomes of a previous special council meeting. Iran denied the claims of a 'blockade of the Strait of Hormuz' and pointed out that the fundamental reason for the deteriorating maritime security situation in the Persian Gulf is external military actions. It emphasized that any so-called 'safe maritime corridor' arrangements must receive Iran's consent. In response to concerns about navigation in the Strait of Hormuz, Iran clearly stated in the document that the strait remains open to international navigation, but the associated risks have significantly increased due to the current deteriorating security environment. Regarding suggestions from some countries to establish a 'safe maritime corridor,' Iran stressed that as a coastal state of the Strait of Hormuz, it has the legal right to ensure the safety and management of navigation in the relevant waters. Any shipping arrangements must be conducted with full coordination and consent from the relevant Iranian authorities; otherwise, it would constitute interference with the jurisdiction of the coastal state.

Iran Submits Legal Document to IMO, Denies 'Blockade of Strait of Hormuz' Claims

On April 13, Financial IT reported that HSBC's Global Payments Solutions (GPS) has successfully completed a pilot for Tokenized Deposit Services (TDS) on the regulated public blockchain Canton Network. This pilot simulated the entire process of issuing, transferring, and atomic settlement of tokenized deposits. This marks the first time HSBC's TDS has been issued and utilized on a public blockchain. HSBC's TDS supports major currencies such as USD, GBP, EUR, HKD, and SGD, allowing fiat deposits to be converted into digital tokens at a 1:1 ratio, enabling instant transfers on HSBC's ledger and supporting 24/7 real-time settlements and programmable payments. Manish Kohli, head of HSBC Global Payments Solutions, stated that this pilot demonstrates the evolution of tokenization in the banking sector and the necessary infrastructure, with the company's focus on building secure and interoperable capabilities to enable customers to transfer funds more efficiently across different environments. Yuval Rooz, co-founder of Canton Network and CEO of Digital Asset, noted that tokenized deposits are accelerating in capital markets, corporate banking, and cash management, with Canton becoming one of the major deployment networks.

[HSBC Completes Tokenized Deposit Pilot on Canton Network, Supporting Real-Time Settlements in USD and HKD]On April 13, Financial IT reported that HSBC's Global Payments Solutions (GPS) has successfully completed a pilot for Tokenized Deposit Services (TDS) on the regulated public blockchain Canton Network. This pilot simulated the entire process of issuing, transferring, and atomic settlement of tokenized deposits. This marks the first time HSBC's TDS has been issued and utilized on a public blockchain. HSBC's TDS supports major currencies such as USD, GBP, EUR, HKD, and SGD, allowing fiat deposits to be converted into digital tokens at a 1:1 ratio, enabling instant transfers on HSBC's ledger and supporting 24/7 real-time settlements and programmable payments. Manish Kohli, head of HSBC Global Payments Solutions, stated that this pilot demonstrates the evolution of tokenization in the banking sector and the necessary infrastructure, with the company's focus on building secure and interoperable capabilities to enable customers to transfer funds more efficiently across different environments. Yuval Rooz, co-founder of Canton Network and CEO of Digital Asset, noted that tokenized deposits are accelerating in capital markets, corporate banking, and cash management, with Canton becoming one of the major deployment networks.

HSBC Completes Tokenized Deposit Pilot on Canton Network, Supporting Real-Time Settlements in USD and HKD

On April 13, South Korean cryptocurrency exchange Coinone will face a partial suspension of operations and fines for violating anti-money laundering obligations. The Financial Intelligence Unit (FIU) of South Korea determined that Coinone breached several core obligations under the Specific Financial Information Act (SFIA) following an on-site anti-money laundering inspection. After considering the scale and nature of the violations, the FIU decided to impose a 3-month partial suspension and a fine of 5.2 billion Korean won. The suspension period will be from April 29 to July 28, during which only new users' external transfers of cryptocurrency assets will be restricted, while existing users can continue to trade normally.

[Coinone Faces 3-Month Partial Suspension and Fines for Anti-Money Laundering Violations]On April 13, South Korean cryptocurrency exchange Coinone will face a partial suspension of operations and fines for violating anti-money laundering obligations. The Financial Intelligence Unit (FIU) of South Korea determined that Coinone breached several core obligations under the Specific Financial Information Act (SFIA) following an on-site anti-money laundering inspection. After considering the scale and nature of the violations, the FIU decided to impose a 3-month partial suspension and a fine of 5.2 billion Korean won. The suspension period will be from April 29 to July 28, during which only new users' external transfers of cryptocurrency assets will be restricted, while existing users can continue to trade normally.

Coinone Faces 3-Month Partial Suspension and Fines for Anti-Money Laundering Violations

On April 13, UBS Group announced an increase in its Brent crude oil price forecast, projecting $100 per barrel by the end of June, $95 per barrel by the end of September, and $90 per barrel by the end of December. UBS Group has raised its forecast for Brent crude oil prices to $85 per barrel by the end of March 2027. (Jin Shi)

[UBS Group Raises Brent Crude Oil Price Forecast to $85 per Barrel by March 2027]On April 13, UBS Group announced an increase in its Brent crude oil price forecast, projecting $100 per barrel by the end of June, $95 per barrel by the end of September, and $90 per barrel by the end of December. UBS Group has raised its forecast for Brent crude oil prices to $85 per barrel by the end of March 2027. (Jin Shi)

UBS Group Raises Brent Crude Oil Price Forecast to $85 per Barrel by March 2027

On April 13, foreign media reported that the White House banquet hall construction project proposed by President Trump can continue for at least another week following a temporary ruling issued by the U.S. Court of Appeals for the District of Columbia Circuit on Saturday. In a 2-1 decision, the appellate court panel suspended the enforcement of a previous stop-work order issued by Judge Richard Leon. This judge, appointed by George W. Bush, had ruled in March that the project could not proceed as the U.S. government had not obtained congressional authorization.

[U.S. Appeals Court Rules Trump’s White House Banquet Hall Project Can Continue]On April 13, foreign media reported that the White House banquet hall construction project proposed by President Trump can continue for at least another week following a temporary ruling issued by the U.S. Court of Appeals for the District of Columbia Circuit on Saturday. In a 2-1 decision, the appellate court panel suspended the enforcement of a previous stop-work order issued by Judge Richard Leon. This judge, appointed by George W. Bush, had ruled in March that the project could not proceed as the U.S. government had not obtained congressional authorization.

U.S. Appeals Court Rules Trump’s White House Banquet Hall Project Can Continue

On April 13, UBS Group announced an increase in its Brent crude oil price forecasts, predicting $100 per barrel by the end of June, $95 per barrel by the end of September, and $90 per barrel by the end of December. The forecast for Brent crude oil prices by the end of March 2027 has been raised to $85 per barrel.

[UBS Group Raises Brent Crude Oil Price Forecast to $85 per Barrel by March 2027]On April 13, UBS Group announced an increase in its Brent crude oil price forecasts, predicting $100 per barrel by the end of June, $95 per barrel by the end of September, and $90 per barrel by the end of December. The forecast for Brent crude oil prices by the end of March 2027 has been raised to $85 per barrel.

On April 13, BGIN Blockchain Limited (NASDAQ: BGIN) announced today that its U.S. subsidiary BGIN Infrastructure LLC has successfully resolved a series of disputes with Mawson Hosting LLC. Mawson is the landlord of the property where its former hosting service provider, Krypton Technologies LLC, operated. According to a confidential settlement agreement, BGIN has successfully recovered all of its mining equipment. The dispute originated from a hosting service agreement signed on June 14, 2024, in which BGIN contracted Krypton to operate approximately 5,325 mining machines owned by BGIN. Subsequently, Krypton failed to fulfill its obligations to landlord Mawson, resulting in the seizure of the mining machines by Mawson. Meanwhile, BGIN had issued a written notice to Krypton to terminate the hosting service agreement and request the return of the mining machines, but Krypton was unable to return them as the equipment was under Mawson's control at that time.

[BGIN Resolves Hosting Dispute and Recovers All Mining Equipment]On April 13, BGIN Blockchain Limited (NASDAQ: BGIN) announced today that its U.S. subsidiary BGIN Infrastructure LLC has successfully resolved a series of disputes with Mawson Hosting LLC. Mawson is the landlord of the property where its former hosting service provider, Krypton Technologies LLC, operated. According to a confidential settlement agreement, BGIN has successfully recovered all of its mining equipment. The dispute originated from a hosting service agreement signed on June 14, 2024, in which BGIN contracted Krypton to operate approximately 5,325 mining machines owned by BGIN. Subsequently, Krypton failed to fulfill its obligations to landlord Mawson, resulting in the seizure of the mining machines by Mawson. Meanwhile, BGIN had issued a written notice to Krypton to terminate the hosting service agreement and request the return of the mining machines, but Krypton was unable to return them as the equipment was under Mawson's control at that time.

BGIN Resolves Hosting Dispute and Recovers All Mining Equipment

In an interview, US Treasury Secretary Yellen said that policy actions taken by the US government to curb the systemic threat posed by the collapse of Silicon Valley Bank and Signature Bank last month have now led to a stabilisation of deposit outflows. In this environment, banks will become more cautious and may further tighten their lending standards in the future. This would lead to restrictions on economic credit, which could eliminate the need for further interest rate hikes by the Federal Reserve. She remains optimistic that the US can avoid a recession and a significant rise in unemployment as the economy cools and inflation slows.

Detail

【Yellen: Banks may further tighten lending standards Eliminate the need for further Fed rate hikes】In an interview, US Treasury Secretary Yellen said that policy actions taken by the US government to curb the systemic threat posed by the collapse of Silicon Valley Bank and Signature Bank last month have now led to a stabilisation of deposit outflows. In this environment, banks will become more cautious and may further tighten their lending standards in the future. This would lead to restrictions on economic credit, which could eliminate the need for further interest rate hikes by the Federal Reserve. She remains optimistic that the US can avoid a recession and a significant rise in unemployment as the economy cools and inflation slows.

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Article

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