#Gate广场四月发帖挑战 Web3 Today’s Must-Read

Today’s Quick Overview
• North Korean hackers lurk for half a year to loot millions from Drift
• Polymarket upgrades architecture and launches native stablecoin
• Court confirms CFTC’s jurisdiction over prediction markets
• U.S. Senate to push forward crypto market structure bill in April
• Circle discloses Arc network’s quantum-resistant attack solution
• Coinb initiates DAI to USDS conversion
• Japan’s Metaplanet increases Bitcoin holdings by 5,000 coins again
• Chaos Labs exits Aave governance over disagreements
• Galaxy tokenized stocks enable on-chain proxy voting
• JPMorgan’s Dimon calls blockchain a competitor to banks

Today’s Analysis
Today’s collection of news may seem scattered, but they all tell the same story: Web3 is undergoing a brutal transformation from a “wild west” operation to a “mainstream force.” The most chilling incident is the $285 million loss by Drift Protocol. This is no longer the old story of a scientist making a typo and being exploited; it’s a real-life “Infernal Affairs.”

North Korean hackers have been lurking for half a year, infiltrating core circles through social engineering. The signal behind this is clear: DeFi’s security defenses have been completely breached. We used to think code was law, and as long as audits passed, everything was fine. Now it’s obvious that the weakest link is still “people.” When nation-state-level professional forces start infiltrating protocols through interviews, meetings, and social channels over the long term, the existing developer background checks are paper-thin. This insecurity is forcing the industry to accelerate its embrace of “order.”

Look, giants like Polymarket, which test the decentralized edge, are now not only upgrading their architecture but also launching native stablecoins. This move is interesting—it’s trying to shed reliance on third-party bridge assets and essentially building a moat around itself.

Interestingly, at the same time, court rulings against Kalshi and the upcoming Senate bill are pushing prediction markets and market structures that once belonged to the “gray area” into the CFTC’s jurisdiction. The regulatory boot isn’t just about landing; it’s already on the ground. Now, the competition isn’t about who is more “decentralized,” but who can first secure a legal pass to mainstream markets.

The real highlight is the “defection” from traditional finance. JPMorgan’s Dimon finally changed his tune in the annual letter, no longer dismissing Bitcoin as “air,” but instead listing blockchain and stablecoins as substantial competitors to the banking system. This isn’t politeness; it’s a survival threat. Galaxy’s on-chain voting for tokenized stocks is a prime example. It proves that RWA (Real World Assets) are no longer just about tokenizing real estate or bonds but also about digitizing shareholder rights and governance logic behind them.

This kind of efficiency-driven disruption is what makes traditional banking giants uneasy. But amid this big integration, internal power struggles are heating up. The split between Aave and Chaos Labs is essentially about the redistribution of governance and risk control when facing V4 upgrade pressures. When a protocol becomes too big to fail, every decision affects countless stakeholders. This “internal conflict” is actually a necessary step toward governance maturity.

Ultimately, Web3 has moved beyond the stage where storytelling alone could pump prices. The new game rules are: who can fix the “insider” hacker defenses, who can catch the regulatory olive branch, and who can truly eat into traditional finance’s existing stock—those will be the winners in the next cycle.