The Fed's Powell Warns of Stablecoin Risk, Emphasizes Need for Stronger Regulation and Reserve Review

On April 1st, per Onchain Lens monitoring, a newly created wallet deposited 1.9 million USDC into HyperLiquid and opened a 20x-leveraged short position on ETH (liquidation price: $2319.12).

April 1, U.S. Secretary of State Pompeo: We’ll be sharing more updates on Cuba soon—we’re working on it. (Xinhua)

On April 1, the Polymarket team took to Discord to address community concerns about high fees in specific market categories. The team noted its original plan was to adjust the fee curve, but it had mistakenly used USD taker volume previously—now, it’s switched to calculating fees based on share count, an industry standard that resolves fee imbalance issues. In some markets (notably weather and economic markets), this change, combined with an index only applied to those two categories, severely distorted the fee curve. At lower prices (e.g., 0.1￠), fees became abnormally high—this is why users complained about “super high fees” on social media. Currently, the fee schedule has been revised, the index has been removed, and all markets no longer face this issue. “Fees for these markets remain the lowest and most cost-effective online,” the team said. For users worried about fees, the team suggested placing limit orders for free trading; the new update also lets users earn a 20-

April 1st — Per Chain.News, funds stolen from Kraken users (7,784 ETH + 26.5 BTC) were transferred to the HitBTC exchange 6 hours ago. Notably, HitBTC permits cryptocurrency trading and withdrawals without KYC (know-your-customer) verification. Yesterday’s reports stated a Kraken user was the victim of a social engineering attack, resulting in the theft of $18.19 million in assets.

April 1st — Fox News reports: U.S. Secretary of State Mike Pompeo stated that a direct meeting with Iran could occur at some point.

On April 1, the Financial Times reported that foreign central banks have cut their holdings of U.S. Treasury bonds to the lowest level since 2012 as they work to support their economies and currencies amid the Iran conflict. Since February 25, the value of Treasury bonds held by official institutions in custody at the Federal Reserve Bank of New York has fallen by $82 billion. Some central banks have intervened in foreign exchange markets to prop up their domestic currencies—such interventions typically involve selling dollars to address crises. Since February 27 alone, Turkey’s central bank has sold $22 billion worth of foreign government bonds. Analysis suggests the supply shock is exerting significant pressure on global central banks.