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HTX DAO's First Hackathon Launches!Vote to help HTX win & share 300 USDT!Claim1,200 USDT in the Monthly Creation Challenge The BIS General Manager has said that existing stablecoins fall short of the 

Claim1,200 USDT in the Monthly Creation Challenge


The BIS General Manager has said that existing stablecoins fall short of the requirements for a widely accepted and used payment instrument.

Stablecoins Remain A “Niche” Payment Instrument

Pablo Hernández de Cos, General Manager at the Bank for International Settlements (BIS), spoke on the topic of stablecoins at a Bank of Japan seminar in Tokyo on Monday. The BIS is an international financial institution that serves as a bank for central banks. It’s owned by constituent central banks, of which there are 63 in total at the moment. The institution has been vocal about its concerns regarding stablecoins in the past.

Stablecoins are cryptocurrencies that have their price tied to a fiat currency. In recent years, these tokens have gained popularity, inviting regulation from major economic hubs.

Since stables run on blockchain technology, they naturally offer relatively cheap 24/7 transactions. This has made their main use, besides being a store of value, as a mode of payments.

Stablecoins try to mimic fiat currencies, but do they count as “money”? de Cos has discussed the two features that decide the “moneyness” of an instrument: singleness and interoperability.

First, singleness is the idea that different forms of money should be perfectly substitutable at par across financial intermediaries and platforms. In fiat economics, this is facilitated by central banks. For the decentralized stablecoins, there is no such central settlement so deviations can emerge.

Though, these differences tend to be relatively modest. “Yet confidence shocks can widen discounts abruptly and, when they do, users may refuse to accept certain stablecoins, as seen on several occasions in the past,” said de Cos.

The other property, interoperability, means that users can send and receive funds seamlessly across platforms and networks. 

The BIS General Manager has said that existing sta

BASED: Hyperliquid’s On-Chain Super App

According to The Block, Shin Hyun-song, the newly appointed governor of South Korea's central bank, delivered an inaugural speech promising to promote the development of central bank digital currency 

New Governor of South Korea's Central Bank Commits to Advancing CBDC and Deposit Tokens, Questions R

Vote to help HTX win & share 300 USDT!

Bitcoin Up 2 Weeks: Beginning or End?HTX DAO's First Hackathon Launches!Daily $5000U Airdrop: One Tap to ClaimApril has already seen over $600m stolen across DeFi, bridges and wallets, turning securit

April has already seen over $600m stolen across DeFi, bridges and wallets, turning security from a protocol‑level concern into a full‑blown market risk premium. Summary Crypto protocols have already lost more than $600m to hacks in April, led by $292m stolen from KelpDAO and $285m from Drift Protocol. Exploits now cut across smart contracts, infrastructure and social‑engineering attacks, including AI‑driven campaigns against wallets like Zerion. Between 11:00 and 13:00 UTC, mid‑cap DeFi names saw capitulation‑style selloffs as derivatives markets priced in a persistent “security risk premium.” Fresh aggregate figures show that crypto protocols have already lost over $606m to hacks in the first 18 days of April, making it the worst month for exploits since February 2025 and pushing 2026’s year‑to‑date haul above $770m. According to data from DefiLlama at least 13 protocols have been compromised this month, with KelpDAO and Drift Protocol alone accounting for around 95% of April’s losses and roughly 75% of 2026’s total. You might also like: ZachXBT presses MemeCore over $6B valuation and token supply concentration KelpDAO, an Ethereum liquid‑staking protocol, suffered an attack on April 18 that drained about 116,500 rsETH, valued at roughly $292m, after an attacker forged cross‑chain messages to trick a LayerZero EndpointV2 bridge contract into releasing reserves. Drift, Solana’s largest decentralized perpetuals exchange, was hit on April 1 in what regional media called a “sophisticated” exploit, losing about $285m in what is now the second‑largest security breach in Solana’s history after the $326m Wormhole hack in 2022. From contract bugs to AI‑driven social engineering The latest wave of hacks is not confined to smart‑contract bugs or restaking primitives. Incidents have hit routing and infrastructure layers such as Hyperbridge as well as front‑end an

April has already seen over $600m stolen across De

On April 21, according to monitoring by Lookonchain, funds have continued to flow out of Aave, with some moving into Spark. Data shows that Aave's Total Value Locked (TVL) has dropped to $16.432 billi

Aave TVL Drops to $16.432 Billion, Funds Partially Flow into Spark

Bitcoin Up 2 Weeks: Beginning or End?HTX DAO's First Hackathon Launches!Vote to help HTX win & share 300 USDT!Arbitrum (ARB) Announces Urgent Measures Following Major Cryptocurrency Hack Over the Week

Arbitrum (ARB) Announces Urgent Measures Following Major Cryptocurrency Hack Over the Weekend! Here Are the Details

The DeFi sector is witnessing one of its worst periods since the 2022 crash. The KelpDAO attack, one of the most talked-about topics in recent days, resulted in a loss of $290 million. However, the losses didn’t stop there. This attack caused a total outflow of $7 billion across the top 20 chains in just 24 hours.

As the cryptocurrency sector reacts to the KelpDAO attack, Arbitrum has announced that it has urgently frozen approximately 30,766 $ETH associated with the KelpDAO vulnerability.

Arbitrum (ARB), the second-layer Ethereum network, announced via its official X account that it had identified an address linked to the KelpDAO attack that occurred on Saturday evening. Following this, Arbitrum stated that it had frozen 30,766 Ethereum ($ETH), worth $71.05 million, held by the hacker on Arbitrum One.

“The Arbitrum Security Council froze approximately 30,766 $ETH held in addresses associated with the KelpDAO vulnerability.”

According to the statement, the funds were successfully transferred to another frozen wallet via an intermediary and are no longer accessible from the hacker’s address.

“The frozen funds can only be activated by the next decision of the Arbitrum management, and subsequent transactions will be carried out in cooperation with the relevant institutions.”

The hacker’s address starts with 0x5d3919. The individual still holds 75,700 $ETH on the Ethereum chain.

As you may recall, in the KelpDAO attack, a large amount of rsETH tokens were stolen from a LayerZero-powered bridge, and most of them were used as collateral on Aave to purchase wETH.

This situation also triggered a debt crisis at Aave, resulting in a total of $10 billion in outflows from the protocol. This affected the Aave price, causing it to fall to arou

Arbitrum (ARB) Announces Urgent Measures Following

WL: Ethereum L2/Sidechain

Bitcoin Up 2 Weeks: Beginning or End?HTX DAO's First Hackathon Launches!Daily $5000U Airdrop: One Tap to ClaimU.S. CLARITY Act faces a May delay as banks fight stablecoin yields, clashing with a White

U.S. CLARITY Act faces a May delay as banks fight stablecoin yields, clashing with a White House report that says the lending impact is just 0.02%. Summary U.S. CLARITY Act’s April committee review hangs in the balance as Senate Banking juggles Fed chair hearings and crypto legislation. Banking groups lobby hard against stablecoin yield, clashing with a White House report that pegs lending impact at just 0.02%. White House crypto adviser Patrick Witt publicly calls banks “greedy or ignorant” as pressure mounts to stop stalling the bill. The U.S. CLARITY Act, a landmark effort to define stablecoin and broader crypto market structure, is at risk of being pushed from an expected April review into May as bank lobbying around stablecoin yield provisions intensifies on Capitol Hill. According to newsletter outlet Crypto In America, the Senate Banking Committee has until Friday to decide whether to notice the bill for markup the week of April 27, but the calendar is already crowded by the confirmation hearing for Federal Reserve chair nominee Kevin Warsh. In parallel, the North Carolina Bankers Association and other industry groups are urging members to call Senator Thom Tillis’s office and demand changes to the CLARITY Act’s proposed restrictions on yield-bearing stablecoins, reopening a compromise deal hammered out with crypto firms just weeks ago. Banks clash with White House over stablecoin yields Banking trade bodies, including the American Bankers Association, have warned that allowing stablecoin rewards could drain up to $6.6 trillion in deposits from the banking system, arguing that yield-paying tokens would accelerate an exodus from traditional accounts. You might also like: Solana breaks a key resistance while BlockchainFX is tipped as the crypto millionaire maker ahead of its launch That position sits uneasily with a recent report from the White Ho

U.S. CLARITY Act faces a May delay as banks fight

Bitcoin Up 2 Weeks: Beginning or End?HTX DAO's First Hackathon Launches!Vote to help HTX win & share 300 USDT!KelpDAO hackers are laundering millions in stolen crypto, data sho The hackers that stole 

KelpDAO hackers are laundering millions in stolen crypto, data sho

The hackers that stole $290 million in the KelpDAO exploit are beginning to launder their ill-gotten gains, according to onchain sleuth ZachXBT and data from Arkham.

Arkham shows that the wallet in control of the proceeds of the exploit sent two transfers of $117 million and $58 million on the Ethereum blockchain during European hours on Tuesday.

ZachXBT reported that a portion of the stolen funds has already begun moving across chains. Roughly $1.5 million was bridged from Ethereum to Bitcoin via Thorchain, alongside an additional $78,000 routed through the privacy protocol Umbra. North Korean hackers Lazarus Group have previously used protocols like Thorchain to launder funds.

Cross-chain routing and privacy tools are commonly used in the early ‘layering’ stage of laundering, suggesting the attacker may be preparing to further disperse the funds across multiple venues.

The KelpDAO exploit is one of the largest decentralized finance breaches in recent months, spurring a wave of negative sentiment across the DeFi sector and fears over contagion will spread to other blockchains.

Layer 2 network Arbitrum said Monday it had frozen $71 million in ether linked to the hack, a move that could pressure the exploiter to accelerate efforts to move and launder the remaining funds.

KelpDAO hackers are laundering millions in stolen

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Ripple has unveiled a multi-phase roadmap to prepare the XRP Ledger (XRPL) for a post-quantum future

Ripple Unveils Multi-Phase Plan To Make The XRP Ledger Quantum-Ready By 2028

Michael Saylor posted on the X platform that the Strategy achieved gains of 47,079 BTC in the first three weeks of April, with a return rate of 6.2%, equivalent to approximately $3.6 billion at curren

Michael Saylor: Strategy Achieves 47,079 BTC Gains in First Three Weeks of April

Bitcoin Up 2 Weeks: Beginning or End?HTX DAO's First Hackathon Launches!Daily 5K USDT Airdrop - Join & Win!Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disc

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure After months of delay, the Senate appears to be approaching a decisive moment for the long-awaited CLARITY Act. This week could finally help determine whether lawmakers can move the bill forward—or whether additional negotiating pressure will push momentum into mid-May. Banks Pressure Banking Committee MembersA Monday report from Crypto In America’s Eleanor Terrett said the Senate Banking Committee has until Friday to formally notice a markup of the CLARITY Act if it plans to hold a vote during the week of April 27. However, the timing may be under strain.  Pressure from the traditional banking sector that wants to weigh in on the stablecoin yield—paired with Sen. Thom Tillis’ stated interest in hearing those concerns—could mean the markup is postponed to the second week of May, when the Senate returns from recess.Related Reading: What The Kelp DAO’s $292 Million Hack Means For XRP Holders Earning YieldTerrett previously reported that Tillis’ office has been facing a targeted pressure campaign from banking groups, including the North Carolina Bankers Association. These groups are reportedly unhappy with the scope of stablecoin yield restrictions included in the current version of the act. Their message to banking members is straightforward: contact Tillis’ staff and make their concerns known, according to the reporting. The push does not appear to be limited to Tillis. Industry groups have also been reaching out to other members of the Banking Committee beyond Tillis and Angela Alsobrooks, who are described as the lead negotiators. In the latest phase of bargaining, a compromise was reportedly reached late last month that the crypto industry says it is largely satisfied with—or at least not openly opposing. Even so, the CLARITY Act text has not been release

Trusted Editorial content, reviewed by leading ind

$BNB is still in the symmetric triangle.

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$BNB is still in the symmetric triangle.

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