#Gate广场四月发帖挑战 Today's Hot Topics: 1:1 pegged BTC-backed cirBTC arrives, WBTC dominance is about to be challenged!

1 1:1 pegged BTC-backed cirBTC arrives, WBTC dominance is about to be challenged? European Central Bank officials say the digital euro project is "gaining good momentum," with issuance expected in July 2029, and a 12-month pilot to start in the second half of 2027; legislative consensus has been formed, bank participation interest is increasing, and if legislation is enacted before the end of the year, there will be no major obstacles. The move aims to reduce reliance on US payment companies and USD stablecoins.
2 Accelerated regulation of USD stablecoins! The first draft of implementation rules for the GENIUS Act has been released. The U.S. Treasury Department issued the first draft of the implementation rules for the GENIUS Act, marking the start of federal regulation for stablecoins; the draft focuses on small issuers, clarifying that institutions with a scale below $10 billion can choose state regulation (subject to federal standards), aiming to clarify the boundaries between federal and state regulation. The public can submit comments within 60 days, and related supporting rules are also being developed.
3 Rising oil prices scare off crypto investors, but Grayscale remains resilient—window of opportunity opening. Tensions in the Middle East and soaring oil prices have increased market caution. Bitcoin remains volatile but maintains a range-bound pattern, showing relative resilience; it is believed that once tensions ease, the market could rebound quickly. The total supply of stablecoins has grown from $20 billion in 2020 to $315 billion in 2025, indicating a solid industry foundation. The current phase of uncertainty is a good opportunity for long-term investors to position themselves.
4 Six months of bear market still not over! Bitcoin's time-based tug-of-war, bottom signals emerging. The Bitcoin bear market has lasted nearly six months, now entering a "time pain" phase, with long-term sideways trading replacing sharp declines. Data from Glassnode shows that about 80% of holders are long-term, slightly below the 85% seen at previous bear market bottoms. This suggests the bear market may be nearing its end, but several months of sideways consolidation are needed to establish a true bottom.
5 $24 billion crypto money laundering case cracked! Prince Group core executive and former Huiwang Group chairman Li Xiong was deported back to China on suspicion of running casinos, fraud, and other charges. Huiwang Payments, founded in 2018, built a large illegal network. According to Elliptic, since 2021, related crypto wallets have received over $24 billion, and Huiwang guarantees have become the largest online illegal marketplace globally.
6 Solana Foundation responds strongly to Drift security incident—purely an isolated case, unrelated to the ecosystem. Solana Foundation Chief Product Officer stated that the attack on Drift Protocol was not due to a smart contract vulnerability but more likely related to operational security or social engineering attacks. He emphasized that this is an isolated incident and does not indicate systemic issues within Solana DeFi. Any protocol relying on multi-signature mechanisms could face similar risks. The community will learn from the incident and rebuild.
7 Sunyuchen officially announces TRX stepping down as platform coin, HTX becomes 🔥 coin's only representative. Sunyuchen announced that HTX will become the only platform coin for 🔥, and TRX will no longer serve as the platform coin. He stated that TRX's market recognition has improved, and there is no need to rely on platform coin attributes for empowerment. Meanwhile, HTX's business is mature, and future efforts will focus on ecosystem development and value support.