Gate Cryptocurrency News and Market Analysis

The Hong Kong Monetary Authority failed to issue stablecoin licenses by the end of March as scheduled, with review delays caused by the high threshold requirements. In addition, state-linked enterprises such as Ant and JD.com have paused their applications due to mainland regulatory pressures, further affecting the approval timeline. The Monetary Authority did not provide a specific schedule, only stating that it is still moving forward with the licensing process.

Drift Protocol was attacked on April 2, and about $220 million to $270 million in assets were transferred, causing its TVL to fall to $255 million. The attacker moved some funds to Ethereum and performed swaps, and a statement from the Jupiter platform said it was not affected. Security organizations warned that after the attack, the native token faced prolonged downward pressure, and the future outlook for the DRIFT token needs to be carefully assessed. The investigation is still ongoing.

U.S. President Trump plans to announce that Iran’s military targets have been achieved, the war is nearing its end, and the U.S. and Iran are in talks to negotiate a ceasefire. This situation is boosting market sentiment and pushing Bitcoin higher. K33 Research shows that Bitcoin ETF shorts have reached a historical high, and the market structure indicates signs that a bottom may be forming, suggesting a possible near-term uptrend.