Morning Report | Strategy increased its holdings by 4,871 BTC last week; Toss plans to develop its own blockchain and issue a native cryptocurrency; OpenAI's CFO privately questioned the timing of the IPO in 2026

整理：ChainCatcher

Important News:

• OpenAI CFO privately questioned the timing of the 2026 IPO, Altman excluded her from key financial meetings
• U.S. Treasury selects BNY Mellon and Robinhood to participate in Trump account program
• dYdX community votes to approve the proposal to "gradually close 12 markets"
• Circle minted approximately 3.25 billion USDC on Solana in the past 7 days, setting a record for the largest weekly stablecoin minting in 2026
• Bloomberg: Binance compliance team undergoes personnel changes, Chief Compliance Officer may resign
• Strategy spent $329.9 million last week to increase its holdings of 4,871 BTC
• South Korean fintech giant Toss plans to develop its own blockchain and issue a native cryptocurrency

What important events happened in the past 24 hours?

Jack Yi announces strategic investment in imBack, claims imBack helped him recover lost BTC

According to ChainCatcher, Jack Yi, founder of Liquid Capital, stated on social media that the crypto asset recovery service provider imBack successfully assisted him in unlocking an iPhone that had been sealed for 18 years and recovering BTC that he previously thought was permanently lost.

Jack Yi mentioned that he had lost hope of recovering the wallet, and imBack's technical capabilities exceeded expectations. Based on this experience, he quickly completed his investment in imBack. It is reported that imBack can provide recovery services for early users holding BTC, ETH, and other assets who are unable to access their wallets due to device locks or lost private keys.

Caixin: Several lending platforms see decline in loan issuance and profits in Q4, some seek investment in the "crypto circle" as a second growth curve

According to ChainCatcher, Caixin reported that due to the implementation of new lending regulations and a slowdown in consumer credit demand, several consumer lending platforms showed a consistent trend in Q4 2025: revenue and loan issuance declined year-on-year, and net profits fell sharply.

As the lending business enters a contraction phase, various platforms are looking for "overseas expansion" and investment in the "crypto circle" as a second growth curve. It is reported that platforms like Lexin and Yirendai have already laid out overseas operations, with Southeast Asia and Latin America becoming major battlegrounds. Weixin Jinke has been continuously investing in the blockchain industry over the past two years.

Strategy spent $329.9 million last week to increase its holdings of 4,871 BTC

According to ChainCatcher, Strategy officially disclosed that last week it purchased 4,871 BTC at an average price of approximately $67,718, with a total expenditure of about $329.9 million.

As of 2026, Strategy has accumulated a total of 766,970 BTC, with a total holding cost of approximately $58.02 billion, and an average price of about $75,644 per coin.

Bitmine increases its holdings by 71,252 ETH, total holdings rise to approximately 4.803 million

According to ChainCatcher, PR Newswire reported that Bitmine Immersion Technologies (NYSE AMERICAN: BMNR) announced that as of April 5, 2026, its total ETH holdings had reached 4.803 million, valued at approximately $10.2 billion based on a price of $2,123 per coin, accounting for 3.98% of the total ETH supply (120.7 million coins). In the past week, Bitmine added 71,252 ETH, marking the highest weekly purchase volume since the week of December 22, 2025.

Currently, Bitmine has staked 3.3346 million ETH (approximately $7.1 billion), with an annualized staking yield of about $196 million and a 7-day annualized yield of 2.78%. The company also announced the official launch of its institutional-grade staking platform MAVAN (Made in America Validator Network).

Bitmine's total holdings of crypto assets, cash, and other investments amount to $11.4 billion, including 198 BTC, $864 million in cash, and $200 million in shares of Beast Industries and $92 million in shares of Eightco Holdings (NASDAQ: ORBS).

Additionally, Bitmine has been approved to upgrade from NYSE American to the New York Stock Exchange (NYSE), and will officially trade under the code "BMNR" on the NYSE starting April 9, 2026.

U.S. Treasury selects BNY Mellon and Robinhood to participate in Trump account program

According to ChainCatcher, the Wall Street Journal reported that the U.S. Treasury has selected BNY Mellon (BK.N) and Robinhood (HOOD.O) to participate in the Trump account program, with BNY Mellon (BK.N) serving as the financial agent to manage the initial accounts, and both parties will collaborate to develop a white-label application.

The Trump account, also known as the 530A account, is a tax-deferred investment account program proposed by President Trump on June 9, 2025, aimed at establishing government-funded savings accounts for U.S. citizens born between January 1, 2025, and January 1, 2029. Each account starts with an initial amount of $1,000, invested in index funds tracking the U.S. stock market.

Digital asset infrastructure company OFA Group reaches $15 million RWA tokenization agreement

According to ChainCatcher, Globenewswire reported that Nasdaq-listed digital asset infrastructure company OFA Group announced a RWA tokenization service agreement with MD Queens Development, which will provide blockchain infrastructure support for a comprehensive development project in Long Island, New York, and conduct tokenization in the early stages of development through its physical asset tokenization platform Hearth.

The related digital assets will represent project SPV interests, rather than directly corresponding to underlying real estate ownership. According to the agreement, OFA will receive a total of $15 million in funding, which will be paid in stages based on milestones.

South Korean fintech giant Toss plans to develop its own blockchain and issue a native cryptocurrency

According to ChainCatcher, The Block reported that South Korean payment and banking giant Toss has revealed that it is considering developing its own blockchain network and issuing a native cryptocurrency, potentially based on a Layer 1 mainnet, and exploring Layer 2 scaling solutions.

Insiders say that Toss has not yet made a final decision on whether to adopt a Layer 1 or Layer 2 architecture, and the decision is influenced by the progress of South Korea's "Digital Asset Basic Law." This bill will regulate key areas such as token issuance, stablecoins, and crypto ETFs.

Bloomberg: Binance compliance team undergoes personnel changes, Chief Compliance Officer may resign

According to ChainCatcher, Bloomberg reported that there have been personnel changes in Binance's compliance team, involving key positions related to financial crime monitoring and sanctions compliance. Chief Compliance Officer Noah Perlman is reportedly discussing his future departure with management and may leave this year or next.

Noah Perlman joined Binance in 2023 and was responsible for rebuilding the sanctions enforcement and anti-money laundering system, which was one of the key rectification measures following the company's guilty plea regarding U.S. regulatory violations. In response, Binance stated that there is "no departure timeline yet, nor has a successor been determined," and emphasized that he remains focused on current work.

Jack Yi: If it's a long-term investment, buying ETH below $2,000 can capture the peak of the bull market

According to ChainCatcher, Jack Yi stated, "The war seems to be finally coming to an end. Although I don't understand politics, it's still surprising that it has lasted this long. After it ends, I expect a rebound rather than a reversal. If it's a long-term trend investment, buying ETH below $2,000 can capture the peak of the bull market. If it's a short-term swing, one can look at the position to take profits."
OpenAI CFO privately questioned the timing of the 2026 IPO, Altman excluded her from key financial meetings

According to ChainCatcher, market sources reported that OpenAI CEO Sam Altman privately expressed this year that he hopes the company can complete its IPO as early as the fourth quarter; CFO Sarah Friar has revealed to several colleagues that she believes the company is not ready for an IPO in 2026, citing the required processes and organizational workload, as well as the financial risks associated with high computing power procurement commitments.

Internally, Altman has repeatedly excluded Friar from financial decisions. In recent months, he did not invite Friar to participate in discussions with a top investor regarding server procurement, and one attendee described her absence as "notable and awkward," as she had participated in previous meetings on the same topic. Since August of last year, Friar no longer reports directly to Altman, but instead reports to application business head Fidji Simo, breaking the usual practice of large company CFOs reporting directly to the CEO.

On the financial side, OpenAI has committed to investing over $60 billion in cloud servers over the next five years, with internal forecasts indicating that it will consume over $20 billion in cash before achieving positive cash flow. The $122 billion financing commitment announced this week primarily comes from Amazon and Nvidia, both of which are also OpenAI's cloud server and chip suppliers, creating a circular capital arrangement. Anthropic has surpassed OpenAI to become the preferred AI model for enterprises and developers, and OpenAI's revenue growth is also slowing.

Preparations for the IPO have quietly begun: OpenAI has engaged the law firms Cooley and Wachtell Lipton Rosen & Katz, and has had preliminary discussions with the IPO teams of Goldman Sachs and Morgan Stanley. Altman privately expressed a desire to go public before Anthropic, which is currently discussing an IPO plan for the fourth quarter of this year. The two executives later issued a joint statement saying they are "completely aligned on the computing power strategy."

South Korea plans to strengthen CEX asset verification mechanisms, requiring reconciliation every 5 minutes, daily disclosures, and monthly audits

According to ChainCatcher, the South Korean Financial Services Commission (FSC) has required local crypto CEXs to establish a system for reconciling internal ledgers with actual crypto asset holdings every 5 minutes by the end of May, and to disclose asset matching balances daily and undergo external audits by accounting firms monthly.

This move is seen as a tightening of regulations following the incident in February this year when Bithumb mistakenly issued 620,000 BTC to users.

Arthur Hayes: Bitcoin may drop below $60,000 before rising to $250,000

According to ChainCatcher, Arthur Hayes stated in the Coin Stories podcast that he would not invest his last dollar in Bitcoin at the moment because the Federal Reserve has not yet been forced to expand liquidity. Arthur Hayes believes that tariff policies will lead to inflation and may prompt the U.S. to turn to capital controls, which will serve as a significant liquidity catalyst for Bitcoin.

Arthur Hayes maintains a long-term target price for Bitcoin in this cycle between $250,000 and $750,000, but warns that if the U.S.-Iran conflict continues, Bitcoin may temporarily drop below $60,000. Additionally, Charles Schwab confirmed that it will launch direct spot trading of Bitcoin and Ethereum through new accounts in the first half of 2026.

Research firm Mercado Bitcoin's study shows that Bitcoin consistently outperformed gold and the S&P 500 index within 60 days following major global shocks. Currently, Bitcoin's price has risen to around $67,300, while the cryptocurrency fear and greed index has remained in the extreme fear zone for several weeks.

dYdX community votes to approve the proposal to "gradually close 12 markets"
According to ChainCatcher, the dYdX community voted to approve the "gradually close 12 markets" proposal with a support rate of 91.07%. The proposal includes the gradual closure of the following 12 trading markets: JASMY-USD, KOMA-USD, LINEA-USD, ME-USD, NEIRO-USD, PIPPIN-USD, RAY-USD, TRB-USD, TRY-USD, USDE-USD, YFI-USD, ZEREBRO-USD.
Circle's Arc public chain releases post-quantum cryptography roadmap, covering full-stack upgrades from wallets to validators
According to ChainCatcher, Circle's institutional-grade blockchain Arc has released a phased upgrade roadmap for post-quantum cryptography (PQ), planning to introduce post-quantum signature schemes at the mainnet launch and gradually cover full-stack layers such as private state protection, infrastructure reinforcement, and validator certification.

The Arc mainnet will support post-quantum signatures at launch, using an opt-in mechanism that does not require mandatory migration or a full network reset, allowing users to create wallets with long-term security independently. The recent goal is to extend quantum resistance to the private virtual machine (VM) layer, protecting private balances, private transactions, and private payees, with public keys additionally encapsulated in a symmetric encryption layer in privacy mode.

The mid-term plan is to promote infrastructure layer upgrades, aligning with industry standards such as TLS 1.3, covering access control, cloud environments, and hardware security modules (HSMs). The long-term goal is to complete the reinforcement of validator signatures, given that Arc's block finalization time is less than 1 second, current assessments suggest that the risk of quantum attacks in this area is relatively limited and will be steadily advanced once the post-quantum consensus toolchain matures.

Circle also warns that attackers may adopt a "collect now, decrypt later" strategy, and institutions should plan their cryptographic migration paths early.

Circle minted approximately 3.25 billion USDC on Solana in the past 7 days, setting a record for the largest weekly stablecoin minting in 2026
According to ChainCatcher, data shows that Circle minted approximately 3.25 billion USDC on Solana in the past 7 days, marking the largest weekly stablecoin minting volume in 2026.

Meme Popularity Rankings

According to meme token tracking and analysis platform GMGN, as of April 7, 09:00,

The top five popular ETH tokens in the past 24 hours are: HEX, SHIB, LINK, PEPE, UNI

The top five popular Solana tokens in the past 24 hours are: VDOR, Punch, neet, Buttcoin, testicle

The top five popular Base tokens in the past 24 hours are: SKITTEN, PEPE, BASED, B3, SKYA

What are some interesting articles worth reading in the past 24 hours?

Oil prices are approaching a critical point, what will happen in mid-April?

This article argues that what truly drives oil prices is not just whether the conflict ends, but "when it crosses the critical point."

In the ongoing conflict in Iran, the oil market is experiencing a typical "time pricing." The release of strategic reserves has delayed the impact but cannot eliminate the supply gap; disruptions in tanker transport and delays in capacity recovery have led to inventory pressures accumulating for the future. Once the critical point of mid-April is crossed, the price mechanism will shift from "buffered volatility" to "gap-driven repricing."

More importantly, the game structure itself is also changing. The conflict no longer presents a path of "escalation to de-escalation," but rather shifts to a test of endurance against the market's critical point. Whoever can hold out until the supply-demand imbalance is priced by the market will hold the negotiating power. This means that even if the conflict ends in the short term, oil prices are unlikely to return to their previous range. The current supply losses are reshaping the global oil balance for the foreseeable future.

"Legitimate" Ponzi scheme? Unveiling the circular lending of Gemini exchange and its founders

This is entirely a circular Ponzi scheme:

Borrowing BTC from related party WCF; pledging these BTC to lending institutions to obtain dollar loans (involving Galaxy, bond issuance, NYDIG).

Some of these loans were settled in discounted stock during the IPO.

Moreover, there are more operations (involving Ripple and RLUSD, convertible bonds, etc......)

Deloitte issued an unqualified audit report: there were no key audit matters (KAM), and it did not mention issues related to related parties, liquidity, or going concern at all......

How are these operations legal?

How to capture the next Alpha in the narrative of prediction markets?

In the past three months, people on Twitter have discussed countless times how much @Polymarket is worth, how far this new narrative can go, and compared to cryptocurrencies or AI, how far the narrative of prediction markets can go.

Meanwhile, Wall Street is trying to price everything in the world, but those elites have forgotten to price something truly important.

Whether you are a prediction market trader, a quantitative player, a market maker, a project party, or a yield farmer, this article provides a re-structuring of the "prediction market" narrative from my perspective as the founder of insiders.bot and an ordinary veteran of prediction markets, and what kind of narrative will align with the development laws of prediction markets.