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North Korean hackers likely pocketed hundreds of millions in stolen crypto — and now a US court is being asked to decide whether a stablecoin giant should have stopped them. Circle’s Own Track Record 

North Korean hackers likely pocketed hundreds of millions in stolen crypto — and now a US court is being asked to decide whether a stablecoin giant should have stopped them.

Circle’s Own Track Record Becomes A Key Weapon
A class action lawsuit filed in a Massachusetts federal court this week names Circle Internet Group as the defendant, with plaintiffs arguing the company had both the means and the opportunity to stop roughly $280 million in stolen USDC from moving across blockchains — and did nothing.

The case was brought by Drift Protocol investor Joshua McCollum, representing more than 100 affected members. Their attorneys put it plainly: Circle allowed criminal use of its own technology.


The complaint was filed Wednesday in a Massachusetts US district court by Drift investor Joshua McCollum, representing more than 100 members.
The April 1 attack on Drift Protocol saw attackers drain funds and route them from Solana to Ethereum using Circle’s Cross-Chain Transfer Protocol, a bridging tool the company operates. The transfers happened over several hours, according to reports. The window was wide open.

What makes the lawsuit particularly pointed is what happened just days before the hack. About a week prior, Circle froze 16 USDC wallets tied to a sealed US civil case. Plaintiffs seized on that detail. If Circle could move fast for a court-adjacent matter, they argue, it could have acted here too. That single fact sits at the center of the legal fight.

I hope there’s some precedent set. Either you’re a decentralized protocol and literally do not have the power to freeze or you’re not and you should be freezing hacked funds. This middle ground hand wavy “only with a court order” stuff is weak. Misses the forest for the trees https://t.co/TqzOYKZOvm

— James Seyffart (@JSeyff) April 16, 2026

Accusations Range From Negligence To Aiding

North Korean hackers likely pocketed hundreds of m

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Claim1,200 USDT in the Monthly Creation ChallengeHTX Community Spring Creation ContestVote to help HTX win & share 300 USDT!Strategy formerly MicroStrategy has reached a breakeven zone on its huge Bit

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Bitcoin Up 2 Weeks: Beginning or End?HTX Community Spring Creation ContestClaim1,200 USDT in the Monthly Creation Challenge Clarity Act's stablecoin yield language pushed back; ban on idle balances st

Clarity Act's stablecoin yield language pushed back; ban on idle balances still intact
The anticipated release of the latest language on stablecoin rewards in the Clarity Act has been pushed back.

A source familiar with the discussions told The Block that the latest text reflects previous language that bans rewards on idle stablecoin holdings.

The anticipated release of the Clarity Act's latest text on stablecoin yield appears to have been pushed back to next week and beyond.

According to a Politico report, Sen. Thom Tillis (R-N.C.) said the draft will likely not be released this week, saying that he wants clarity on the timing of the upcoming Banking Committee markup before publishing the text to the public.

A source familiar with the matter also told The Block that the text won't be released this week, and that the legislative team continues to meet with bank trade associations and crypto companies.

The source also confirmed that the draft currently reflects prior language that would ban rewards on idle stablecoin holdings in accounts, while allowing yield on activity like transactions. It would be difficult to make substantive changes to the text at this point, according to the source.

Tillis has been working with Sen. Angela Alsobrooks (D-Md.) to develop language in the Clarity Act to end the long-standing debate on whether cryptocurrency companies should be allowed to pay interest on idle stablecoin balances.

The Republican senator previously told Politico that he aims to release the draft text on stablecoin yield this week to resolve the dispute, which has delayed the bill well beyond the initial end-of-2025 timeline.




Clarity Act's stablecoin yield language pushed bac

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Bitcoin Up 2 Weeks: Beginning or End?HTX Community Spring Creation ContestVote to help HTX win & share 300 USDT!Iran Opens the Strait of Hormuz, Trump Thanks Them! Bitcoin (BTC) Rises While Oil Prices

Iran Opens the Strait of Hormuz, Trump Thanks Them! Bitcoin (BTC) Rises While Oil Prices Fall! Here’s Everything You Need to Know


With the two-week ceasefire between the US and Iran nearing its end, a second round of talks is expected to take place.

According to Axios, the US and Iran will likely hold talks in Islamabad on April 19.

Axios also reported that Iran said the deal was for the US to release $200 billion in frozen Iranian funds in exchange for handing over its stockpile of enriched uranium.

Discussions on this matter are reportedly ongoing.

In addition to these reports of talks, statements were also issued by Iran. According to these statements, Iran officially reopened the Strait of Hormuz to ALL commercial vessels for the remainder of the ceasefire period.

The Iranian Foreign Minister stated, “In line with the ceasefire in Lebanon, the passage of all commercial vessels through the Strait of Hormuz is declared fully open for the remainder of the ceasefire period, via the coordinated route already announced by the Ports and Maritime Organization of the Islamic Republic of Iran.”

US President Donald Trump thanked Iran for reopening the Strait of Hormuz.

Following the Iranian Foreign Minister’s announcement that commercial shipping traffic in the Strait of Hormuz would resume, WTI and Brent oil prices fell by more than 6% during the day, dropping to $86.51 and $88.53 per barrel respectively.

In response to this news, oil prices fell, while the price of Bitcoin (BTC) rose by 1.5% in the last 24 hours, climbing above 

Iran Opens the Strait of Hormuz, Trump Thanks Them

Summary Polish Prime Minister Donald Tusk has accused crypto exchange Zondacrypto of using “Russian funds linked to organized crime” and “Russian security services” to finance opposition politicians a

Poland’s Tusk says Russia-linked crypto firm is bankrolling his opponents MiCA deadlock leaves Polan

Morpho price rallied to nearly $2 for the first time this year as a wave of institutional interest and new protocol upgrades lifted demand for the token. Summary Morpho price jumped over 12% to a year

Here’s why Morpho price rallied 12% today

Bitcoin Up 2 Weeks: Beginning or End?HTX Community Spring Creation ContestClaim1,200 USDT in the Monthly Creation Challenge Gate Research flags 5x ETFs as tactical, not buy-and-hold Gate Research says

Gate Research flags 5x ETFs as tactical, not buy-and-hold

Gate Research says leveraged crypto ETFs now sit at the center of liquidity and short-term trading strategies on centralized exchanges, but warns their daily reset makes them unsuitable as long-term holdings in volatile markets.

Summary

Gate Research finds leveraged crypto ETFs work best as short-term tactical tools, not long-term investments.

Simulations show 5x products can lose more than 90% of value in 60 days in choppy markets due to "volatility decay."

Strategies using 5x tokens like ETH5S with volume breakout signals and hard time stops show a 67% win rate in backtests.

The latest report from Gate Research argues that leveraged products such as 5x long and inverse tokens are best used in tightly defined, short-duration trades built around "right-side" entries, volume-driven momentum breakouts and strict stop-loss rules.

Gate Research flags 5x ETFs as tactical, not buy-a

Bitcoin Up 2 Weeks: Beginning or End?HTX Community Spring Creation ContestClaim1,200 USDT in the Monthly Creation Challenge Negative Funding Rates Hit Yearly High as Bitcoin Tests $76K Bitcoin funding

Negative Funding Rates Hit Yearly High as Bitcoin Tests $76K

Bitcoin funding rates hit year-high negative levels, setting up a potential short squeeze—or bull trap—as its price tests $76K.
Bitcoin’s recent rally toward $76,000 faces a dilemma, leaving investors split on its near-term outlook.

Funding rates for Bitcoin—a fee paid by derivatives traders to maintain the alignment between spot and futures prices—have remained negative for over a month and hit the highest level this year, according to Coinglass data.

Negative funding rates indicate investors are shorting the recent rally with the expectation of a reversal.

The divergence between bearish derivatives positioning and bullish spot catalysts sets up a potential short squeeze—or a bull trap—depending on which side breaks first.

“Funding rates this negative tell you the market is heavily short,” Daniel Reis-Faria, CEO of ZeroStack, told Decrypt.

The derivatives data directly contrasts with Bitcoin's recent uptick, which was in part driven by bullish catalysts such as sustained ETF inflows, regulatory development surrounding the CLARITY Act, and the two-week ceasefire between the U.S. and Iran, Decrypt previously reported.

“For a squeeze to gain real momentum, Bitcoin would need to break and hold above $80,000,” Illia Otychenko, lead analyst at crypto exchange CEX.IO, told Decrypt.

Such a move could trigger “cascading liquidations of short positions and accelerate the rally,” Otychenko said.

Reis-Faria’s bullish forecast involves Bitcoin pushing close to “$125,000 in the next 30 to 60 days,” adding that a short squeeze would help this case.

Bitcoin is currently trading at around $75,580, up 1.2% in the past 24 hours after having reached an intraday high of $76,114, according to CoinGecko data.




Negative Funding Rates Hit Yearly High as Bitcoin

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