Strategy Buys $2.54B in Bitcoin
Michael Saylor's Strategy (MSTR) purchased 34,164 bitcoin last week for $2.54 billion at an average price of $74,395. The purchase marks the company's third-largest on record and brings total holdings to 815,061 BTC acquired for roughly $61.56 billion. With bitcoin currently trading near $75,000, Strategy's holdings are finally back at break-even. MSTR shares fell 2.5% in pre-market trading. Read more →
Kelp DAO Loses $292M in Bridge Exploit
An attacker drained 116,500 rsETH from Kelp DAO's LayerZero bridge on Saturday, worth approximately $292 million. The protocol's emergency controls froze contracts within 46 minutes, blocking two follow-up attempts that would have added $100 million in losses. Aave froze rsETH markets and said it would explore offsetting any bad debt. The stolen tokens represent roughly 18% of rsETH's circulating supply. This marks Kelp's second security incident in a year. After investigating the hack, Kelp DAO as pointing at North Korea's Lazarus group as the culprit. Read more →
Banks Still Trying to Slow Down Clarity Act
The Clarity Act’s long-awaited Senate markup is suddenly looking less certain after a fresh lobbying push from bank trade groups, which are pressing lawmakers to revisit how the bill handles stablecoin yield. According to Crypto in America, Senator Thom Tillis is facing targeted outreach from groups including the North Carolina Bankers Association, while other Banking Committee members are also hearing from industry voices that want changes before the bill moves forward. That matters because the calendar is getting tight. If the committee wants a vote the week of April 27, it has until Friday to notice the markup – otherwise the process could slip into May. Read more →
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