Morning Report | a16z releases global financial new stack report; Websea's withdrawal channel suspected of running away; Strategy purchased 3,273 bitcoins last week

整理：ChainCatcher

Important News:

• KOL: The digital asset trading platform Websea is suspected of running away, and the withdrawal channel has been closed
• Telegram launches a no-code AI bot building tool
• Western Union will launch the stablecoin USDPT and plans to issue a stablecoin payment card
• National Development and Reform Commission: A decision has been made to prohibit foreign investment in the Manus project according to laws and regulations
• a16z releases the Global Financial New Stack report: Stablecoins are reshaping the financial system
• Strategy spent $255 million last week to purchase 3,273 bitcoins
• Solana releases quantum roadmap: selects Falcon solution, existing migration work is ready

What important events happened in the past 24 hours?

Consensys and Joseph Lubin join DeFi United, providing up to 30,000 ETH to support rsETH recovery

According to ChainCatcher, Aave announced on platform X that Ethereum core organization Consensys and Ethereum co-founder Joseph Lubin have officially joined the DeFi United recovery initiative, providing funding support of up to 30,000 ETH, with ongoing strategic consulting provided by Sharplink.

Aave stated that this contribution is an important part of the overall recovery plan for DeFi United and plays a key role in promoting the recovery of rsETH collateral and normalizing market conditions. Without this support, the current recovery process would be difficult to advance.

BitMine increased its holdings by 101,901 ETH last week, bringing total holdings to approximately 5.078 million

According to ChainCatcher and reported by PR Newswire, BitMine increased its holdings by 101,901 Ethereum last week, marking the highest weekly purchase volume since the week of December 15, 2025. As of April 26, 2026, its total Ethereum holdings reached 5,078,386, accounting for approximately 4.21% of the total Ethereum supply.

Currently, the total value of cryptocurrencies, cash, and other investment assets held by BitMine is approximately $13.3 billion, including $940 million in cash, 200 bitcoins, $200 million in equity assets from Beast Industries, and a $91 million investment in Eightco Holdings (ORBS). Additionally, it has staked 3,701,589 Ethereum (73% of total holdings), valued at approximately $8.8 billion, with current annualized staking returns of about $264 million.

BitMine Chairman Tom Lee stated that the company's ETH holdings surpassed 5 million this week, achieving this accumulation in just 10 months, and has completed 84% of its goal of holding 5% of the total ETH supply. Tom Lee noted that multiple research reports suggest ETH is gradually becoming a "store of value" asset and will be used as collateral in digital asset financial transactions. Since the outbreak of the US-Iran war, ETH has outperformed the S&P 500 by 1,696 basis points, making it one of the best-performing assets globally (second only to crude oil).

He also pointed out that Ethereum continues to benefit from the dual drivers of Wall Street's on-chain tokenization and the growing demand for public neutral blockchains from AI intelligent systems, indicating that the current crypto winter is nearing its end.

Strategy spent $255 million last week to purchase 3,273 bitcoins

According to ChainCatcher, Strategy announced that last week it increased its holdings by 3,273 BTC at an average price of approximately $77,906, with a total value of about $255 million, achieving a BTC return of 9.6% from the beginning of 2026 to the present.

As of April 26, 2026, Strategy holds a total of 818,334 BTC, with a total purchase cost of approximately $61.81 billion, at an average price of about $75,537.

a16z releases Global Financial New Stack report: Stablecoins are reshaping the financial system

According to ChainCatcher, a16z crypto released an analysis report titled "Global Financial New Stack: Stablecoin Edition." The report points out that stablecoins have evolved from niche trading tools to fundamental financial pipelines, giving rise to a new "banking as a service" model that is driving the reconstruction of the financial system. The report believes that the transition to on-chain finance has "crossed the point of no return."

The report categorizes blockchains into three types: general-purpose chains (such as Solana, Ethereum, and L2), payment-specific chains (such as Stripe's Tempo), and institutional networks (such as Canton). It also notes that bottlenecks in the banking industry are easing, with a number of crypto-friendly banks actively connecting on-chain infrastructure with traditional fiat systems. The competition for stablecoin issuance has shifted to regulatory positioning, with issuers vying to obtain OCC national trust licenses.

The report states that payments are the "first act," while credit may be the more important "second act." The large-scale issuance of stablecoins will give rise to a new on-chain credit market, allowing capital to form outside the traditional banking system. The report also emphasizes that stablecoins not only enhance the dominance of the US dollar but also provide access channels to the dollar for emerging market users.

Trump will hold a National Security Council meeting today to discuss reopening the Strait of Hormuz
According to ChainCatcher, Trump will hold a National Security Council meeting today to discuss proposals to reopen the Strait of Hormuz and end hostilities, according to Solid Intel.

Circle Ventures announces it is buying AAVE tokens to support the DeFi community

According to ChainCatcher, Circle announced on platform X that Circle Ventures is purchasing AAVE tokens because strong DeFi infrastructure cannot be built alone.

Aave is helping to shape the future of on-chain finance, and Circle is supporting this ecosystem and the entire community built around it.

Spark releases Q1 2026 financial report: net protocol surplus of $3.46 million

According to ChainCatcher, the Spark protocol released its Q1 2026 financial report on April 27.

The report shows that the quarter achieved a gross protocol return of $31.5 million (a 31% decrease quarter-on-quarter), a net protocol return of $6.91 million (a 30% decrease quarter-on-quarter), and a net protocol surplus of $3.46 million (a 47% decrease quarter-on-quarter). The protocol treasury reached $46.1 million at the end of the quarter (a 5.7% increase quarter-on-quarter). Additionally, Spark has launched a SPK token buyback plan, investing $986,000 to repurchase tokens through the open market.

This quarter's revenue structure has changed, with distribution rewards becoming the largest net return contributor to the protocol ($3.31 million), surpassing the net income from Spark's liquidity layer (SLL) for the first time. The average deployed capital for SLL is $1.93 billion, with an average annualized yield of 5.8%. SparkLend continues to support institutional-level lending, and its USDT savings treasury continues to grow. Spark's institutional lending products deployed $150 million at the end of the quarter, and the governance layer has approved its $1 billion cap.

The report points out that the current unfavorable conditions in the DeFi lending market have led to a narrowing of SLL interest spreads, but the protocol's distribution business has grown significantly. USDS serves as a scalable savings-based return mechanism in a poor market environment, and its distribution channels are continuously expanding to multi-chain and various stablecoins.
Solana releases quantum roadmap: selects Falcon solution, existing migration work is ready
According to ChainCatcher, Solana officially released an article on the potential impact of quantum computing on blockchain, reiterating that the quantum threat is still years away, but the Solana ecosystem has made sufficient research and technical preparations in advance.

The independent validator client development teams Anza and Firedancer (representing a large portion of the network's staked shares) have unanimously concluded after independent research that a post-quantum digital signature scheme that is compact and suitable for high-throughput blockchains is needed, and they have jointly selected the Falcon solution. Both parties have published initial implementation code on GitHub.

Additionally, the Solana Winternitz Vault developed by Blueshift has been running in the ecosystem for over two years, providing a direct quantum-resistant path. Earlier this year, Google Quantum AI listed this Vault as a leading case of forward-looking post-quantum work in its white paper.

Solana's current quantum roadmap includes ongoing quantum research and evaluation of Falcon and alternative solutions; adopting post-quantum solutions for new wallets when quantum becomes a credible threat; and migrating existing wallets to the selected solution. The official statement indicates that the migration work is controllable and can be completed quickly when the time comes, with no significant impact expected on network performance.

Western Union will launch the stablecoin USDPT and plans to issue a stablecoin payment card
According to ChainCatcher, Western Union announced it will launch its stablecoin USDPT. At the same time, Western Union will also launch a network connecting digital wallets with its existing retail infrastructure and plans to introduce a stablecoin payment card called Stable Card for global consumers.
National Development and Reform Commission: A decision has been made to prohibit foreign investment in the Manus project according to laws and regulations
According to ChainCatcher, as reported by Jinshi, the Office of Foreign Investment Security Review (National Development and Reform Commission) has made a decision to prohibit foreign investment in the Manus project according to laws and regulations, requiring the parties involved to withdraw from the acquisition transaction.

Blockchain Capital partner: Polymarket's non-sports category transaction volume is $7.5 billion, while Kalshi's year-on-year data is only $1.6 billion

According to ChainCatcher, Blockchain Capital partner Spencer Bogart stated on platform X that the total transaction volume of Kalshi and Polymarket is nearly equal, both around $12 billion (the former at $12.29 billion and the latter at $12.22 billion). Excluding sports transactions, Polymarket's non-sports category transaction volume is $7.5 billion, while Kalshi is only $1.6 billion.

Despite the positioning differences between the two in the prediction market, it is strange that they are still classified in the same category.

KOL: The digital asset trading platform Websea is suspected of running away, and the withdrawal channel has been closed
According to ChainCatcher, multiple users on X reported that the crypto exchange Websea, which previously invited actress Takizawa Laura to the Hong Kong Web3 conference, is currently unable to process withdrawals, and the C2C channel has been closed, suspected of running away. Users reported that the platform initially restricted withdrawals and then directly closed the C2C channel, with the price of U in the secondary market plummeting due to panic selling to half price. There has been no official response yet, and the situation is still developing.
He Yi: YZi Labs has invested in a Chinese AI large model company
According to ChainCatcher, during the 2026 Hong Kong Web3 Carnival, He Yi revealed in a small KOL meeting that she and Zhao Changpeng's family office YZi Labs have invested in a Chinese AI large model company, but did not disclose the specific name of the invested company.
Trump's TRUMP luncheon speech: only expressed hope for the passage of the CLARITY Act
According to ChainCatcher, on April 25 local time, Trump attended the TRUMP luncheon at Mar-a-Lago and delivered a speech lasting about 45 minutes, covering topics such as the cryptocurrency industry, the Iran war, and Biden.

White House reporter Sander Lutz stated that apart from expressing hope for the passage of the CLARITY Act and that he would sign it immediately, Trump did not disclose many other specific details, and some industry insiders had hoped he would bring more news about this important bill for the crypto industry.

Progress on the crypto market structure bill is stalled, with May 25 potentially being the "deadline" for advancement

According to ChainCatcher, there has been almost no public progress on the crypto market structure bill in the past month. Although it is quite difficult to predict the timing of this bill, the window for passing it is narrowing. Many actions that have occurred around the market structure issue—such as statements from SEC staff—are not permanent guidance. The SEC has time to issue rules that must go through a public comment period, but this will take time.

The market structure legislation aims to codify the goals of the crypto industry and regulatory rules into law, making it more difficult for future governments to overturn these rules. In other words, without the Clarity Act, we could still be having the same discussions years from now.

At least since last December, May 25 has been viewed as the "deadline" for legislative advancement, as legislators will leave Washington to campaign after entering summer, leaving little time for crypto bills (or most other legislation). Before Congress recesses, the House still needs to review a bill providing funding for the Department of Homeland Security, while the Senate needs to decide whether Kevin Warsh will be the next Federal Reserve Chairman.

The crypto industry is eager for this bill to pass. Over 100 institutions signed an open letter last week urging the Senate Banking Committee to hold a hearing on the bill, which would be the first step in the overall passage process. However, it is still unclear how far the committee is from advancing. The issue of stablecoin yields continues to dominate discussions, while other unresolved issues remain unaddressed at least publicly.

Even if these issues are resolved, the House will still need to vote on the bill again. House Financial Services Committee Chairman French Hill stated earlier this month that many unresolved issues surrounding stablecoins and DeFi sales practices have been addressed in the House version of the bill, and the Senate should be able to find consensus.

Telegram launches a no-code AI bot building tool

According to ChainCatcher, as reported by Techiexpert, Telegram has launched a no-code AI bot building tool, allowing users to interact with the LobsterFather bot to obtain a key (token), which can then be connected to platforms like Telewer, GPTBots, or Lazy AI. Users can set the bot's conversation style and functions by selecting options, supporting different AI models such as GPT and Llama.

Users can also create a Master Bot to manage and assign tasks to sub-bots, suitable for handling multiple chat groups or customer inquiries. This feature is integrated with Telegram Business, allowing the bot to autonomously reply to messages or organize communities. Users can have the bot welcome new members 24/7, filter spam, and answer frequently asked questions. However, attention must be paid to third-party data security risks.

Meme Popularity Rankings

According to meme token tracking and analysis platform GMGN market data, as of April 28, 09:00,

The top five popular tokens in ETH over the past 24 hours are: HEX, SHIB, LINK, PEPE, mUSD

The top five popular tokens in Solana over the past 24 hours are: swarms, House, neet, LOL, Buttcoin

The top five popular tokens in Base over the past 24 hours are: SKITTEN, PEPE, 9MM, BASED, B3

What are some interesting articles worth reading in the past 24 hours?

Lowering expectations for the next BTC bull market

BTC has been my largest total asset position for most of the past few years (currently it is not).

In this BTC bull market cycle:

• At 70,000, I unloaded the small leverage I added during the deep bear period (about 1.1-1.2 times, completed through BTC collateral lending);
• At 100,000-120,000, I reduced my BTC position from fully invested to about 30%.

There were also some small operations during this period, such as slightly increasing my position when BTC pulled back to 50,000+ in 2024, and slightly increasing my position when BTC spiked to 60,000 in February this year. These operations were all based on a long-term positive outlook for BTC.

According to the usual cyclical logic, now is a good time to accumulate more BTC and wait for the next bull market cycle to arrive. However, during BTC's rebound a few days ago, I continued to reduce my already low BTC position to about 30% at the 78,000-79,000 level.

What is 5(c) Capital, which has both Polymarket and Kalshi CEOs investing?

5(c) Capital is not large in scale, aiming to raise about $35 million. Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour both placed bets on this fund. These two companies are the most important players in the prediction market and are also direct competitors.

The fund is driven by two early Kalshi employees: Adhi Rajaprabhakaran and Noah Zingler-Sternig. The former was a Kalshi trader, while the latter was the head of operations at Kalshi.

Polymarket was founded in 2020. The true nature of 5(c) is not that of an established fund that has been investing in projects since 2020, but rather a group of people who have explored the underlying issues in Kalshi's early market structure, turning their experience into a fund. 5(c) is not a traditional thematic fund. It is more like a capital tool organized by industry insiders.

Who authorized this? The gray area of x402

The success of x402 relies on native integrators. Unauthorized wrappers may turn potential partners into competitors.

Last week, Coinbase launched agentic.market, a platform showcasing x402 endpoints, aimed at making the x402 ecosystem easier to discover.

Browsing agentic.market, you will find real-time, on-demand access to various services, from on-chain tools to mainstream APIs. Some endpoints are provided directly by original providers. Many endpoints come from third parties: some companies wrap existing APIs into x402 (and/or MPP) and package them into toolkits for agents to use, allowing users to access them through a single connection for a small fee.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.