An ETH Whale Long has been liquidated multiple times, with a total of 8 million USD liquidated in the latest round. The next liquidation price is at 2076 USD.

On April 2nd, the Drift Protocol exploit impacted multiple DeFi protocols—including Reflect Money, Ranger Finance, Neutral Trade, Elemental DeFi, Project 0, Lulo Finance, Asgard Finance, DeFi Carrot, Pyra, xPlace, and Fuse Wallet. Several of these protocols have confirmed being affected, with some pausing minting, redemption, or deposit/withdrawal functions. Key updates from impacted protocols: - Ranger Finance confirmed ~$900,000 in risk exposure, equivalent to roughly 6% of its $14.6 million total value locked (TVL). - Pyra noted user funds were affected due to deposits in Drift for yield; it has paused Pyra card functionality. - Asgard Finance stated its Drift-related risk exposure was minimal, disabled that lending source, and contacted impacted users. - Fuse Wallet paused deposits to Drift for its Earn product, but the wallet itself remained unharmed. - DeFi Carrot paused minting and redemption functions, while its Boost and Turbo products are unaffected. - xPlace h

On April 2nd, even as markets have recently shifted focus to the Fed’s rate hike narrative, Goldman Sachs’ baseline forecast projects two rate cuts in 2026. The firm cites four key reasons the market is overly concerned: 1. The current oil shock is less severe than historical episodes; 2. A cooling labor market and slowing wage growth will cushion inflation’s impact; 3. Current Fed interest rates are roughly aligned with the neutral benchmark; 4. The Fed typically does not adjust rates solely in response to oil price shocks.

April 2nd: Per the Financial Times, Gulf states are weighing a new oil pipeline to bypass the Strait of Hormuz.

On April 2nd, per Onchain Lens data, STO surged over 200% in 24 hours. The newly created wallet 0x2c2c withdrew 11.76 million STO (valued at $2.94 million) from Binance. Its current position is worth $6.99 million, posting a $4.05 million floating profit in less than 24 hours.

On April 2nd, Wormhole released a statement on X regarding the Drift Protocol exploit incident. The statement confirmed that Wormhole user assets are not currently at risk, and its cross-chain bridge functionality remains operational. That said, some cross-chain transfers may face delays due to a built-in security mechanism targeting Solana. Wormhole’s core contributors have been in contact with the Solana ecosystem team and will continue providing support as needed.