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DeFi United rescue latest progress: over 100,000 ETH raised

The DeFi United ecological rescue initiative led by Aave is ongoing. The Arbitrum DAO has released 30,765 ETH that was frozen after the rsETH incident on April 18. The designated donation address has accumulated a total of 100,360 ETH to address the collateral asset gap caused by the rsETH incident on April 18.The plan aims to restore the rsETH backing assets through multi-party collaboration, stabilize the market, and prevent the spread of bad debts across protocols. The funds will be used to support the recovery of collateral rates and gradually promote market normalization in conjunction with relevant protocols.Current major commitments or participants include: Arbitrum DAO releasing 30,765 ETH frozen after the rsETH incident on April 18, Mantle proposing to contribute 30,000 ETH, AaveDAO proposing to contribute 25,000 ETH, Aave founder Stani Kulechov confirming to provide 5,000 ETH, EtherFi proposing to provide 5,000 ETH, Lido proposing to provide 2,500 stETH, Golem Foundation and related projects totaling 1,000 ETH, among others. Additionally, LayerZero, Ethena, FraxFinance, InkFoundation, and others have also confirmed participation, but specific amounts have not yet been disclosed.It should be noted that the progress of this rescue still relies on several external key conditions, including KelpDAO restoring rsETH redemptions and the Arbitrum security committee releasing frozen assets. The overall recovery time and effectiveness remain uncertain.

The United States sanctions Cambodian senator, the crackdown on cryptocurrency fraud continues to escalate

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced sanctions against Cambodian Senator Kok An, accusing him of controlling "fraud parks" across the country, defrauding American victims through cryptocurrency investment scams.According to a statement released by OFAC on Thursday, in addition to Kok An, 28 other individuals and entities have been added to the sanctions list, all believed to be connected to his fraud network. This network is accused of luring victims into sending cryptocurrency assets under the guise of "high return investments." This action follows a raid by Cambodian police on two scam centers in the border city of Poipet. Previously, Kok An had been accused of operating scam bases in the area. OFAC stated that scammers typically gain victims' trust by establishing "friendships" or "romantic relationships," then guide them to participate in so-called cryptocurrency investment platforms, thereby defrauding them of funds, with the total amount involved reaching millions of dollars.It is noteworthy that some individuals involved in the scam activities are themselves victims of human trafficking, forced to engage in illegal activities under threats of violence. OFAC pointed out that these scam centers are often located in casinos or repurposed office parks, used not only for money laundering but also as bases for defrauding American citizens and committing human rights violations. Additionally, regulators have simultaneously shut down over 500 fraudulent website domains used for cryptocurrency investment scams, indicating that the U.S. crackdown on related criminal activities is intensifying.

"1011 Insider Whale" Agent: The U.S. blockade of the Strait of Hormuz may not end the conflict, but rather escalate the risks

Agent Garrett Jin from "1011 Insider Whale" pointed out in an analysis that the U.S. announcement to implement a maritime blockade in the Strait of Hormuz is one of the "most tactically wise" moves in the current conflict, but it is unlikely to achieve the goal of ending the war. This strategy has two short-term advantages: first, it directly weakens Iran's crude oil export revenue by about 1.7 million barrels per day; second, compared to occupying key facilities (such as Khark Island), the cost of a maritime blockade is lower and the risks are more controllable.However, the effectiveness of this strategy faces multiple challenges. For example, the current blockade mainly targets Iranian ports rather than completely closing the strait, and third-party transshipment routes still exist. Additionally, it undermines the U.S.'s long-term international image of maintaining "freedom of navigation," which could have far-reaching effects on global maritime order.Garrett Jin concluded that while the blockade measures may reshape the initiative in the short term, they are unlikely to force Iran to make concessions and may instead compress diplomatic space and prolong the conflict cycle. The market has accounted for the impact of the blockade itself, but has not fully priced in the potential paths for escalation that may follow.

Analyst: If geopolitical conflicts escalate further, Bitcoin may test the support level of 60,000 USD

According to market news, due to the ongoing US-Iran conflict, the price of Bitcoin has fallen from about $71,000 last week to around $67,000, dipping to $65,000 on Saturday. BTC Markets crypto analyst Rachael Lucas stated that Bitcoin briefly reached $72,000 earlier this week due to hopes for a breakthrough in Middle Eastern diplomacy, but as those hopes faded and concerns over oil supply resurfaced, the price retraced its gains.She pointed out that the situation in the Strait of Hormuz has heightened inflation concerns, making it difficult for the Federal Reserve to cut interest rates, which puts pressure on crypto prices. BTSE Chief Operating Officer Jeff Mei indicated that oil and gas prices will remain high in the short term and drag down economic growth, suggesting that there is still room for crypto prices to decline, with Bitcoin potentially falling to a support level of $60,000.Bitrue Research Director Andri Fauzan Adziima believes that the market will continue to be volatile and driven by news; if the US-Iran conflict escalates, Bitcoin may test $60,000; if the situation eases and oil prices drop, it could rebound above $70,000.BTC Markets analyst Lucas also noted that current retail investor sentiment is fearful, with many adopting a wait-and-see or hedging stance, while institutional investors are showing the opposite trend. This month, over $1.13 billion flowed into US spot Bitcoin ETFs, ending four consecutive months of net outflows; Strategy continues to increase holdings, and Morgan Stanley is set to launch a low-fee Bitcoin ETF.She stated that when there is a clear divergence between retail panic and institutional accumulation, historical experience shows that institutional judgment is often more accurate.
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