Compiled by: Cora, Techub News
Hong Kong
Hong Kong stablecoin finally takes its first step, but real competition is just beginning
The future gaps may not arise from the issuing end, but rather from the distribution end, wallets, payment interfaces, trading platforms, custody, compliance middleware, and who can integrate on-chain cash into real assets and real transactions. Ultimately, the hardest part about stablecoins has never been the issuance, but rather retention.
From April 20 to 23, the Hong Kong Web3 Carnival, jointly created by Wanxiang Blockchain Lab and HashKey Group, will gather senior government officials, financial giants, tech leaders, and over 500 global core decision-makers to create a high-dimensional dialogue space that breaks circles and integrates diversity at the Hong Kong Convention and Exhibition Centre.
Regulation/Macro
Project/Company News
Circle founder: exploring issuing tokens for its L1 blockchain Arc Network
Scroll community releases proposal to "dissolve the security council and transfer control"
The Scroll community has released a governance update proposal regarding the "dissolution of the security council and transfer of control." The proposal suggests dissolving the security council and transferring protocol control to a multi-signature wallet managed by Scroll administrators. Additionally, several DAO contributor roles are set to terminate by April 30, 2026, and the operational and accountability committee will also be scaled down according to current activity levels. This proposal is led by Scroll, and the transition execution of its security council requires council support. Currently, adjustments to contributor roles have been agreed upon in coordination with the operational and accountability committee, and the Scroll Foundation supports the aforementioned changes.
Exodus sues W3C and its CEO, seeking to enforce $175 million acquisition agreement
The blockchain interoperability protocol Hyperbridge has released an updated statement regarding the previous DOT attack incident, confirming losses of approximately $237,000. The root of the vulnerability lies in the absence of necessary input validation in the VerifyProof() function of the HandlerV1 contract, which failed to verify leaf_index and leafCount, enabling attackers to forge Merkle proofs and gain administrator privileges for the Ethereum bridging DOT token contract. The attackers subsequently illegally minted 1 billion bridged DOT tokens (approximately 2800 times the legal circulation) and cashed out on DEX. Hyperbridge stated that they are currently tracking the flow of funds with security partners, and cross-chain functionality will remain suspended until the investigation is completed.
HSBC's global payment solutions have successfully completed a pilot of a tokenized deposit service on the public chain Canton Network. This pilot simulated the full process of issuing, transferring tokenized deposits, and atomic settlement with other digital assets, marking the first issuance of HSBC TDS in a public chain environment. HSBC TDS supports major currencies like USD, HKD, and GBP, allowing fiat deposits to be tokenized on a 1:1 basis, facilitating instant transfers and programmable payments on the HSBC ledger 24/7. Manish Kohli, head of HSBC Global Payments Solutions, pointed out that this pilot demonstrates the evolutionary direction of tokenization in the banking industry, aiming to build a secure and interoperable infrastructure to enhance the efficiency of fund transfers.
In-depth & Forward-looking
On the afternoon of April 12, Sun Yat-sen suddenly published a post criticizing the DeFi project World Liberty Financial (WLFI) supported by the Trump family. He raised a series of accusations, claiming that the WLFI team had never obtained community governance authorization, yet extracted fees from users, secretly implanted backdoors to control assets, froze investors' funds without disclosure and due process, and even treated the entire crypto community as a "cash machine."
When the Trump administration formally initiated the blockade of the Strait of Hormuz— minesweeping operations gradually advanced, military targets on Halke Island faced precise strikes, escort insurance mechanisms were introduced, and discussions of "windfall taxes" surfaced—these pieces of information came together, and I truly realized: the strategic thinking of Trump's governance team is more intricate, pragmatic, and far-reaching than outsiders imagined. The means employed do indeed exceed the expectations of ordinary observers and the market.
Information as a weapon: AI has not killed the truth, it has merely made it irrelevant
In a world where all systems are accelerating, the most disruptive thing an individual can do is perhaps to slow down. Not because slowing down will necessarily help you find the truth. Many times you may never find it. But because slowing down itself is a form of refusal.
Why did AI Agents appear suddenly, and why is it irreversible?
The evolution of AI Agents is irreversible, and it is opening a new chapter in smart applications. The success of this transformation depends not only on the elegance of the code and the power of the algorithms but also on whether we can construct a safe, inclusive, and benevolent development framework for it with a high sense of responsibility and foresight.
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