Gate Daily Report (April 8): Resolv leak impacts treasury liquidity; Fox and Kalshi reach a data partnership

Bitcoin (BTC) sees a strong rebound, trading around $71,520 as of April 8. Resolv USD private key leak causes some Vault collateral to fail, and Trading Protocol warns of liquidity risk along with abnormally high APY. Fox and Kalshi have reached a data partnership to bring predictions market data into multiple news programs.

Macroeconomic Events & Crypto Market Hot Topics

1. Trading Protocol warns that, due to the recent Resolv US dollar private key leak, many vaults have insufficient liquidity, causing the collateral to become worthless overnight. Especially some Morpho vaults, which suddenly earned astonishing returns on the same day. However, these vaults have extremely poor liquidity. “Do not deposit funds, because it is almost impossible for you to withdraw.”

According to the listed accounts, they include Hyperliquid, Llama Lend, Morpho, Yuzu Money, and other vaults. Trading Protocol also emphasizes: “Good operators will prevent deposits by setting the maximum deposit limit to zero: no new deposits, and display a locked icon on our website.”

2. According to a report by The Block, Fox Corporation has reached a partnership with prediction market platform Kalshi to integrate Kalshi real-time data into Fox News, Fox Business Network, Fox Weather, and the streaming platform Fox One, for visualized coverage in politics, economics, weather, and culture categories. Kalshi previously partnered with CNN and CNBC. This partnership does not currently include Fox Sports; Kalshi says sports data may be included “in the future.”

News Updates

1. US media: During the ceasefire period, Iran and Oman will charge a “toll” for using the strait.

2. Solana ecosystem DEX Stabble urges LPs to withdraw funds after discovering that a former employee is a North Korean developer.

3. Base ecosystem project Seamless Protocol announces it will shut down in stages; UI interface goes offline on June 30.

4. Whale’s multi-position profits after “set 10 big targets” exceed $11.58M.

5. Pakistan’s prime minister: The Iran-U.S. ceasefire will take effect at 3:30 a.m. on April 8, Iran time.

6. US FDIC issues draft guidance for institutions issuing stablecoins, covering reserves, redemptions, and capital requirements.

7. Iran’s foreign minister: With coordination from the Iranian side, the strait can be safely transited over the next two weeks.

8. Iran accepts Pakistan’s two-week ceasefire proposal; Iran-U.S. negotiations will begin on April 10.

9. Trump: Agreed to pause bombing and attacks on Iran within two weeks.

10. Fox and Kalshi have reached a data partnership to bring prediction market data into multiple news programs.

Market Performance

1. Bitcoin latest news: $BTC sees a strong rebound, trading around $71,520; over the past 24 hours, $247 million have been liquidated, with long liquidations leading;

2. On April 7, US stocks staged a dramatic reversal: in the final hour of trading, the three major indexes flipped from black to red, with the S&P 500 Index and the Nasdaq Composite both recording a fifth consecutive day of gains. The key factor behind the sentiment shift was Pakistan’s prime minister Shahbaz confirming that ceasefire talks in the Middle East are steadily progressing, and publicly urging U.S. President Donald Trump to extend the final deadline originally set for Tuesday evening 8:00 for two more weeks, while also asking Iran to restart the Strait of Hormuz as a gesture of goodwill. Dow Jones Industrial Average fell by 85.42 points, a decline of 0.2%, closing at 46,584.46. The S&P 500 Index rose 5.02 points, up 0.1%, closing at 6,616.85. The Nasdaq Composite rose 21.51 points, up 0.1%, closing at 22,017.85. The Philadelphia Semiconductor Index rose 1.1%.

(Source: Gate)

3. In the Gate BTC/USDT liquidation map, based on the current 71,694.90 USDT: if it drops to around $67,152, the cumulative amount of long liquidations will exceed $980 million; if it rises to around $72,190, the cumulative amount of short liquidations will exceed $49.67 million. The short-side liquidation amount is significantly lower than the long-side, suggesting reasonable control of leverage ratios and avoiding triggering large-scale liquidations due to market fluctuations.

(Source: Coinglass)

4. Over the past 24 hours, BTC spot inflows totaled $3.0 billion, outflows were $2.82 billion, for net inflows of $180 million.

(Source: Coinglass)

5. Over the past 24 hours, contract trading net outflows led for $BTC, $ETH, $SOL, $ZEC, $BNB, and others, presenting trading opportunities.

Selected Views from X KOLs

Phyrex Ni (@Phyrex_Ni): “The focus of today’s homework is definitely tomorrow morning at 8:00—the decision by Trump: is it TACO or the ‘Hell mode.’ Now the market thinks that as long as it’s not firing, it’s TACO. After all, Iran has already shown a very strong posture. Of course, it can’t be ruled out that Trump unilaterally declares his victory—because compared to the time when the Strait of Hormuz was just starting to get trouble with war, it did become a bit more通航 (transitable). But if right after Trump declares victory, Iran instead restricts the Strait of Hormuz again, then that slap would be kind of loud.”

“I still don’t know whether it’s just the wait until tomorrow morning at 8:00, or whether I fall asleep in between and set the alarm for 7:50, but this time definitely can’t be missed. Actually, according to X’s rules, if I post this many tweets in one night, I would definitely be downranked. Why am I doing this? Because I want my friends to get the full important information about Iran and the U.S. through my tweets. For me, making money off Musk’s small bit isn’t the most important thing—the most important thing is staying true to my original intention.”

“Over the past couple of days, we’ve also talked a lot about accounts. Personally, I think being a KOL and being a content creator are very different. Simply put, one is about volume, and the other is about influence. There’s no such thing as a correct answer—whichever one you take to the extreme will be welcomed. Content creation is fun for me; it’s also a kind of enjoyment.”

“Coming back to Bitcoin data: yesterday’s so-called 45-day ceasefire has been disproven, so today both US stocks and $BTC are down; West Texas Intermediate crude oil has started rising. Investors are all waiting for Trump’s decision in less than five hours from now. You could say that no matter how he chooses, it’s unfavorable for Trump personally—but I still hope he chooses TACO. After all these pieces of news and seeing so many tragedies, I truly hope they can stop fighting.”

What to Watch Today

1. New Zealand official cash rate; previous value was 2.25%.

2. Eurozone retail sales (month-on-month) for February; previous value was -0.1%.

3. Eurozone producer price index (year-on-year) for February; previous value was -2.2%.

4. US EIA crude oil inventory change (10,000 barrels) (as of 0403) last week; previous value was 545.1.

5. New Zealand central bank releases its interest rate decision.

6. New Zealand central bank chair Breeman holds a monetary policy press conference.