Drift team's associated address deposited 56.25 million DRIFT to a CEX, equivalent to around $2.44 million
On April 4th, per OnchainLens monitoring, a wallet linked to the Drift Protocol team deposited 56.25 million DRIFT tokens (valued at ~$2.44 million) to crypto exchanges Bybit and Gate following a hack.
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Multiple US Military Aircraft Involved in Incidents in Iran and Surrounding Area, Rescue Operation Ongoing
**Breaking: April 4th Updates on US Aircraft Incidents Involving Iran**
- A US F-15E Strike Eagle was shot down over Iran; two crew members ejected. One has been rescued by US special operations forces inside Iran, while the other remains missing. Iran is conducting search efforts and has asked local civilians for assistance.
- Iran claims its air defense systems downed a US A-10 Thunderbolt II near the Strait of Hormuz. US officials confirmed the aircraft crashed, adding the pilot was rescued.
- Iranian reports state a US F-16 Fighting Falcon issued an emergency signal and made an emergency landing in Saudi Arabia; the cause is unclear.
- A UH-60 Black Hawk helicopter supporting rescue operations was reportedly attacked and damaged. Witnesses saw the helicopter emitting black smoke as it left Iran and entered southern Iraq. Iranian media previously claimed their air defense hit the helicopter.
- In response, former President Trump said the US aircraft crashes would not impa
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The US had previously proposed a 48-hour ceasefire, and Iran responded with a "battlefield action."
April 4th — A source with knowledge of the matter stated that on April 1st, the U.S. proposed a 48-hour temporary ceasefire to Iran via a friendly country. Iran’s assessment was that the U.S. made the proposal because it had previously miscalculated Iran’s military strength, leading to major challenges for U.S. forces in the region following an escalation of tensions.
The source noted that Iran did not respond to the U.S. ceasefire proposal in writing; instead, it delivered an “on-the-ground response” by continuing heavy firepower strikes on the battlefield. The source revealed that U.S. diplomatic efforts to secure a ceasefire intensified significantly after an Iranian strike targeted a U.S. equipment depot on Bubiyan Island in Kuwait. (Jinse)
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US-Iran Ceasefire Mediation Stalemate, Iran Unwilling to Meet, Qatar Refuses to Mediate
On April 4, a Wall Street Journal report cited officials and mediators familiar with the matter as saying Qatar has declined to serve as a key mediator in a potential U.S.-Iran ceasefire deal, complicating efforts to find a negotiated path forward. Sources revealed Qatari officials told U.S. counterparts last week the country has no intention of playing a lead mediation role or spearheading related efforts.
Earlier Friday local time, mediators said Pakistan-led efforts to broker a U.S.-Iran ceasefire have hit an impasse. They added Iran has formally informed them it is unwilling to meet with U.S. officials in Islamabad in the coming days and rejects U.S. demands as unacceptable.
Mediators also noted Turkey and Egypt are still working to find a resolution, considering new meeting locations including Qatar’s capital Doha or Istanbul, and weighing fresh proposals to break the deadlock. Separately, Iranian media outlet Fars News cited sources as saying Iran has rejected a U.S.-propos
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Source: Federal Reserve may cut interest rates twice this year to support labor market
April 4
Oxford Economics Institute stated that U.S. March employment figures significantly overstated the strength of the pre-Iran conflict job market, as the data reflected concurrent declines in both the labor force and household employment. Job growth will slow as the Iran conflict weighs on real economic activity.
The conflict’s impact on inflation is immediate, while negative effects on consumer spending, business investment and hiring will become more apparent in the coming months.
The institute’s baseline forecast still holds that the Federal Reserve will look past a one-time oil price shock this year and cut interest rates twice to guard against potential future weakness in the labor market.
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US Judge Declines to Reconsider Powell Case Ruling, Appeal, or Delay Walsh Confirmation
On Friday, April 4 (local time), U.S. District Court for the District of Columbia Chief Judge James Boasberg denied the Justice Department’s request to revisit its ruling in the criminal case involving Jerome Powell— a decision that had earlier blocked a subpoena in the probe of the former Fed chair.
In his March 13 ruling, Boasberg found the subpoena issued to the Federal Reserve Board in January 2023 was improper: it aimed to pressure Powell to either accede to Donald Trump’s demand for rapid interest rate cuts or resign. The subpoena was issued by Jeanine Pirro, Washington, D.C.’s chief federal prosecutor and a staunch Trump ally, who has vowed to press ahead with the investigation and said her office intends to appeal to the U.S. Court of Appeals for the D.C. Circuit.
Sources say top DOJ officials back the appeal, which could delay the confirmation of Kevin Wash’s nomination to lead the Federal Reserve. Sen. Thom Tillis (R-N.C.), a Senate Banking Committee member, has slammed
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