A CEX founder revealed in his autobiography that in 2022 he attempted to acquire another CEX, but the tens of billions of dollars in funding demands made by the other party did not actually move the deal forward—the letter of intent was only for evaluating data. The platform’s collapse ultimately hinged on a buyback proposal from the former CEO of an affiliated company, which triggered market short-selling and caused massive capital outflows. Another industry communication group was also scrutinized by regulators, but no manipulation was found.

Velora (formerly Paraswap) has released a new governance proposal. The main adjustments include refocusing on structural decisions regarding the VLR token, terminating the staking plan, closing the DAO treasury and paying for infrastructure services, and stopping fee routing. Going forward, governance will focus on decisions related to the VLR token, and protocol operations will be supported by the development team.

Iran launched a missile and drone attack on Saudi Arabia’s Jubail on April 7, triggering a large fire and further escalating tensions in the Middle East. Iran rejected the U.S. peace plan and put forward a 10-point counterproposal, indicating that it is seeking to consolidate its advantage in negotiations. The market response was clear, with Bitcoin and precious metals prices fluctuating; the situation ahead will affect global energy and financial markets.

The expected shift around Iran ceasefire talks is toward pessimism, and the trading market shows that the ceasefire success rate set by Trump is only 3%. Iran rejected a short-term ceasefire proposal and put forward long-term political and economic conditions, further compressing the room for negotiations. Energy markets are strengthening in expectation, and the probability that WTI crude for April, which hit $120, rises to 77%. Crypto assets such as Bitcoin are under pressure during the phase when risk appetite declines, with capital flowing into traditional safe-haven assets.

American prediction market platform Kalshi made progress in its legal dispute with the state of New Jersey, as a court ruled that its contracts fall under federal regulation and are not gambling. The decision emphasized that the product meets the definition of a “swap transaction,” protecting Kalshi’s operations within the state. This case marks the first time a federal court has considered the legality of a prediction market, and increased attention will be paid to a unified regulatory framework going forward.

Gate News update, April 7, the decentralized exchange Aster and World Liberty Financial (WLFI) announced that they have reached a partnership. Both sides are moving forward with deep coordination at the ecosystem level and exploring integration options for each of their tokens. Based on the details of the collaboration, USD1 will become the exclusive settlement asset for Aster’s TradFi perpetual contracts on the platform.

The Blockchain Association responded to the U.S. Securities and Exchange Commission to Citadel’s claim that it should strengthen DeFi oversight, arguing that DeFi developers should not be subject to the regulatory framework applied to traditional financial intermediaries, and suggesting that an “innovation exemption” mechanism be advanced to promote innovation in on-chain assets and tokenized securities.

Gate News: On April 7, Paul Atkins, Chair of the U.S. Securities and Exchange Commission (SEC), said at the Vanderbilt University Digital Assets Summit that the SEC’s proposed crypto “safe harbor” framework has been submitted to the Information and Regulatory Affairs Office (OIRA) for review under the Office of Management and Budget, and that only one final step remains before it is formally released. The proposal includes a “start-up exemption” provision, allowing crypto projects to raise a certain amount of funding within a four-year period, while requiring specific disclosures to protect investors. Atkins also revealed that the SEC is moving forward with an “innovation exemption” mechanism, which would create a regulatory sandbox for on-chain assets, but the initiative has sparked controversy between crypto advocates and traditional financial institutions. Atkins emphasized that related legislation still needs to be advanced to ensure the regulatory framework has staying power across administrations.

Gate News message, on April 3, edgeX released an announcement stating that it has permanently destroyed 2.52837 million EDGE tokens. The announcement stated that the burning of EDGE tokens obtained from the buyback has officially been initiated; going forward, it will permanently destroy the tokens obtained from the buyback once every 24 hours.

The NFT market is undergoing a restructuring, and a small number of projects such as Pudgy Penguins and Doodles are shifting from speculation to sustainable brand operations, demonstrating their ability to convert to real businesses. The industry is clearly diverging; NFT projects that rely on scarcity are losing their appeal, and a complete business model needs to be built. Game mechanics are also shifting from “Play-to-Earn” to “Play-to-Own,” emphasizing asset ownership. The trend of tokenizing NFT IP is gaining traction, but there are risks of fragmented governance and declining loyalty. Going forward, projects that can establish genuine demand and form a closed-loop business cycle are more likely to survive.