Key TakeawaysWTI crude oil surged more than 5% intraday on April 29 to $106.58 per barrelBrent crude broke through $109.10 per barrel for the first time since March 23, rising 4.90% on the dayThe continued oil price surge keeps inflation expectations elevated and poses a direct headwind for risk assets including BitcoinOil prices extended their sharp rally on April 29, with WTI crude surging more than 5% intraday to $106.58 per barrel and Brent crude breaking above $109.10 -- its highest level since March 23 -- as the Strait of Hormuz standoff showed no signs of resolution and supply concerns continued to build.The moves represent a significant escalation from the already-elevated price environment that has persisted since the Iran conflict began in late February, when WTI was trading below $70 per barrel. The latest surge marks a more than 50% increase in crude prices since the outbreak of hostilities, a move that is feeding directly into global inflation expectations and central bank policy calculus.The timing is particularly significant for financial markets. The Federal Reserve concludes its two-day policy meeting Wednesday, and the renewed oil spike complicates the already difficult balance between slowing growth and persistent inflation that policymakers must address in their statement. Any signal of a more prolonged hold on rates -- amplified by a fresh energy price shock -- could add further pressure to Bitcoin and risk assets already navigating a rejection from the $79,000--$80,000 resistance zone.

Blockworks has successfully raised an undisclosed amount in its Series A funding round, achieving a valuation of $192 million. According to NS3.AI, the company plans to utilize the newly acquired capital to pursue acquisitions and enhance its data and research infrastructure, specifically targeting on-chain asset investors.

Israeli Prime Minister Benjamin Netanyahu will not be traveling to Washington next week, as confirmed by the Israeli Prime Minister's Office. According to NS3.AI, the cancellation comes amid ongoing discussions and developments in Israeli-U.S. relations. The decision has sparked various speculations regarding diplomatic engagements and future meetings between the two nations. Further details on the reasons behind the cancellation have not been disclosed.

The Iranian currency, the rial, has reached a historic low against the US dollar, with the exchange rate surpassing 1 USD to 1.81 million rials. According to Odaily, the rial's value accelerated its decline, dropping more than 230,000 rials since the downward trend began two days ago.

The Ethereum Foundation has announced a funding allocation of approximately $9.86 million for the first quarter of 2026 through its Ecosystem Support Program. According to Foresight News, the funds will be directed towards projects in various fields, with a focus on protocol development, security, and zero-knowledge proof infrastructure. The funding will support clients and development tools such as EthereumJS, Lighthouse, Erigon, and Besu, as well as data and dashboard projects like L2BEAT and Pectra for post-state monitoring. Privacy-focused initiatives, including Kohaku, Tor integration, and RPC load balancing, will also receive support, alongside cryptanalysis projects like the Poseidon series and zkVM formal verification research. Additionally, the foundation will fund strategic forums in Hong Kong, developer events, and policy research institutions to foster global dialogue on Ethereum's ecosystem and regulatory discussions.

Key Takeaways Silicon Motion Technology surged more than 32% after first-quarter results exceeded expectations, hitting a new highSeagate Technology rose more than 15%, also reaching a new highWestern Digital gained nearly 10%, SanDisk rose nearly 7%, and Micron Technology added nearly 4%The broad-based rally signals renewed institutional appetite for data storage and semiconductor infrastructure plays US-listed storage stocks surged across the board on April 29, led by Silicon Motion Technology's 32%-plus gain after the company reported first-quarter results that beat market expectations, triggering a sector-wide rally that lifted peers to multi-month highs. Seagate Technology was the second-biggest mover, rising more than 15% to hit its own new high alongside Silicon Motion. Western Digital followed with a nearly 10% gain, while SanDisk added nearly 7% and Micron Technology rose approximately 4%. The broad-based nature of the rally suggests the Silicon Motion beat was interpreted by markets as a positive read-across for the entire storage sector rather than a company-specific event -- a signal that demand for data storage infrastructure remains robust despite the uncertain macro environment. For crypto markets, the storage stock surge carries indirect relevance. Strong performance in semiconductor and storage infrastructure plays reflects sustained demand for AI compute and data center buildout -- a backdrop that has historically supported risk appetite across tech-adjacent assets including Bitcoin and AI-related crypto tokens.

In its latest quarterly outlook, European financial giant BNP Paribas issued a grim warning about the global economic outlook, citing three potential scenarios, including oil prices reaching $200 per barrel, that could plunge the global economy into recession. The war with Iran has already had a significant impact on the global economy, but it has not yet completely derailed it. Compared to initial expectations at the beginning of the year, global GDP growth is expected to slow, inflation to remain high, and central banks to maintain more hawkish monetary policies. Currently, oil prices are rising rapidly, with both WTI and Brent crude continuing to climb. WTI crude's daily gain once expanded to 5%, and Brent crude touched $109 per barrel, the first time since March 23, due to Iran's threat of an "unprecedented" military retaliation against the US naval blockade, and White House officials stating that Trump has discussed plans with oil companies to extend the blockade of Iran for months if necessary. BNP Paribas points out that in addition to oil prices soaring to $200, there are two other factors that could trigger a global recession. Furthermore, given a prolonged conflict, all three are likely to occur simultaneously and reinforce each other. The first risk is a disruption to energy supplies from the Middle East, exacerbating bottlenecks in the global supply chain. Disruptions to shipping through the Strait of Hormuz have hampered the transport of global energy and critical components, potentially forcing supply rationing for some goods. The second risk is high inflation, forcing central banks worldwide to tighten monetary policy. Continued monetary tightening will further suppress economic activity and amplify the risk of recession.

Squads, a multi-signature protocol within the Solana ecosystem, announced the completion of an $18 million strategic funding round led by Solana Ventures, with participation from Coinbase Ventures, Haun Ventures, L1D, and others. This brings its total funding to $42.9 million. Squads' stablecoin payment platform, Altitude, allows businesses to conduct 24/7 global payment settlements in stablecoin form through self-custodied wallets, and integrates with global payment networks through compliance and risk control systems. (The Block)

Key Takeaways Standard Chartered says DeFi was "bent, not broken" by the $292 million KelpDAO exploit on April 18, which triggered a bank-run dynamic at AAVE with deposits falling 38% and active loans dropping 31%A $300 million industry backstop led by AAVE and a coalition of DeFi firms helped stabilize the system, with yields normalizing and deposits recoveringStandard Chartered maintained its forecast that tokenized real-world assets will reach a $2 trillion market cap by end-2028, up from $35 billion in October 2025AAVE's V4 upgrade and the forthcoming Ethereum Economic Zone aim to reduce cross-chain bridge dependency -- a primary attack vector in the KelpDAO exploitJPMorgan said hacks and stagnant capital levels continue to weigh on DeFi's institutional appeal, citing a $20 billion hit from the KelpDAO incident The $292 million exploit on KelpDAO on April 18 sent shockwaves through decentralized finance, triggering contagion at AAVE and exposing the systemic vulnerabilities of interconnected blockchain infrastructure -- but Standard Chartered argues the sector's response demonstrated a new level of institutional maturity that leaves its long-term outlook intact. In a Wednesday research report, Geoff Kendrick, head of digital assets research at Standard Chartered, described DeFi as having been "bent, not broken" by the attack, and maintained the bank's projection that tokenized real-world assets will reach a $2 trillion market cap by end-2028. "We still project that tokenised real-world assets will reach a market cap of $2 trillion by end-2028, up from $35 billion in October 2025," Kendrick wrote. How the Contagion Spread The KelpDAO exploit triggered a cascading effect that extended well beyond the initial hack. Stolen tokens were used as collateral on AAVE, the largest DeFi lending protocol, to borrow other assets -- a mechanism that rapidly spread the damage across the ecosystem. The resulting liquidity crunch saw AAVE deposits fall by approximately 38% and active loans drop by 31% in what Standard Chartered described as a bank-run dynamic, as users rushed to withdraw capital amid uncertainty about exposure and solvency. The episode highlighted the amplifying risks inherent in DeFi's interconnected architecture. Cross-chain bridges -- while expanding functionality across blockchain networks -- widen the attack surface significantly, and have accounted for billions in aggregate losses due to complex designs, shared validation systems, and intricate cross-chain mechanics that create multiple potential failure points. Industry Backstop Stabilizes the System AAVE and a coalition of DeFi firms moved rapidly to contain the damage, committing more than $300 million to stabilize the protocol. According to Standard Chartered's report, the intervention succeeded in normalizing conditions, with borrowing yields easing and deposits beginning to recover. The speed and scale of the industry response was cited as evidence of growing DeFi institutional maturity -- a sector capable of self-organizing a credible backstop without relying on centralized intermediaries or government intervention. Structural Upgrades Accelerated Standard Chartered noted that the incident is accelerating planned infrastructure improvements. AAVE's V4 protocol upgrade and the forthcoming Ethereum Economic Zone are both designed to reduce reliance on cross-chain bridges -- the primary attack vector in the KelpDAO exploit and a recurring vulnerability across major DeFi hacks. The upgrades represent a structural response to a structural weakness rather than a cosmetic patch. JPMorgan Takes a Harder Line Not all institutional observers share Standard Chartered's measured optimism. JPMorgan said the KelpDAO exploit and its broader market impact -- estimated at a $20 billion hit to DeFi capital levels -- underscore the persistent barriers to institutional adoption of decentralized finance. The bank highlighted hacks and stagnant capital formation as the two primary factors suppressing DeFi's appeal to regulated institutional participants, a more skeptical read of the sector's resilience than Standard Chartered's assessment. The divergence between the two Wall Street banks reflects a broader institutional debate about DeFi's trajectory -- one that will likely be resolved less by individual opinions than by whether the structural upgrades being accelerated by the KelpDAO aftermath can demonstrably reduce the frequency and scale of future exploits.

The Iranian rial has fallen to a record low against the US dollar, currently trading below 1.81 million rials per dollar. The report states that the rial accelerated its decline against the dollar that began two days earlier, falling by more than 230,000 rials that day. (Xinhua)

In the era of AI acceleration, the real question Ethereum needs to answer is no longer how to be faster and cheaper.

On April 20, 2026, the Hong Kong Securities and Futures Commission (SFC) issued a circular regarding the trading of tokenized SFC-approved investment products (hereinafter referred to as tokenized products) on the secondary market, providing a new trading channel option for such products.

Whether the Federal Reserve is still willing to retain the policy hint that "the next step is more likely to be a rate cut," or begins to acknowledge that the risks have shifted in both directions.

This window of opportunity will also be crucial for the UAE to adjust its pace and increase production across the board.

Before those outside the cryptocurrency community even realized it, the rebuilding of financial infrastructure had already crossed a critical point.

I thought this crazy AI update frenzy was over, but DeepSeek, which just released V4 last week, suddenly delivered an even bigger surprise.

A software founder’s account of a catastrophic failure is reigniting concerns about the risks of deploying AI in live environments, after an autonomous coding agent reportedly deleted an entire production database and its backups in just seconds.

KelpDAO, Artificial Intelligence, AI Cannot Save Human Foolishness: The Real Blind Spot in Blockchain Security Seen Through the $292 Million KelpDAO Incident (Jinse Finance) Problems that AI Auditing Cannot Solve Need to Be Solved by Humans.

A hacker claimed to have taken over 300,000 Polymarket user records and tried to sell them on the dark web. Polymarket denied any breach, saying the data is already public through its on-chain systems and tools.

The "Bitcoin 2026" conference brought Bitcoin's institutional era to the forefront, with law enforcement agencies, ETFs, corporate reserve assets, and the concept of on-chain self-custody clashing fiercely.