Daily Market Digest

DeFi security crisis deepens with over $577M stolen in April

Following the $292 million Kelp DAO bridge exploit, at least a dozen protocols have been compromised in recent weeks including CoW Swap, Zerion, Rhea Finance and Silo Finance. Solana-based Drift was drained of $285 million on April 1 in an attack linked to North Korea-affiliated actors.

Morgan Stanley MSBT spot Bitcoin ETF surpasses $100M AUM

Morgan Stanley's MSBT ETF, launched April 8 at the lowest US fee of 0.14%, crossed $100 million in assets under management within its first two weeks. Deutsche Boerse's $200 million investment in Kraken further signals traditional finance maturation in crypto infrastructure.

CLARITY Act markup expected as Senate advances crypto framework

The Senate Banking Committee is expected to begin markup of the CLARITY Act in mid-April, signaling to institutional allocators that comprehensive crypto regulatory rules are nearing finalization. This follows the March 17 SEC-CFTC joint ruling categorizing Bitcoin and Ethereum as digital commodities.

Ethereum launches Glamsterdam7 parallelization devnet

Developers launched the first generalized devnet for the Glamsterdam7 upgrade on April 10, introducing parallelization and improved Layer-2 integration to maintain low fees as usage scales. The ETH/BTC ratio rose to 0.0313, its highest level in three months.

RaveDAO collapses 82% amid exchange manipulation probes

RaveDAO's RAVE token crashed over 82% in 24 hours after Binance and Bitget launched investigations into suspected manipulation. On-chain analyst ZachXBT alleged that team-linked wallets controlled 90% of supply and orchestrated a $44 million liquidation event.