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Iran Sees Bitcoin as Strategic Asset; USDt Dominates Oil Tolls, BPI

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Iran’s government has named Bitcoin (BTC) as one of the payment options for tolls on oil shipments passing through the Strait of Hormuz, a move highlighted by observers as a clear signal of Bitcoin’s role as a neutral and strategic asset in a sanctions-driven economy. Sam Lyman, head of research at the Bitcoin Policy Institute (BPI), described the development as a notable instance where Bitcoin’s censorship-resistant properties are front and center in state-level financial decisions.

According to Lyman, the Iranian authorities chose BTC for its resilience to external interference—“No one can freeze Bitcoin. No one can shut down the Bitcoin network.” Yet he cautions that, at present, there is no on-chain evidence of BTC toll payments being executed, and Iran’s payments ecosystem remains diversified across multiple instruments, including Chinese yuan and US dollar-pegged stablecoins.

Iran’s payment mix for tolls now includes yuan, USD-pegged stablecoins, and BTC, a combination that reflects a broader push to sidestep traditional financial channels amid international sanctions. However, Lyman notes that the bulk of Iran’s crypto activity to date has been denominated in USD-backed stablecoins, underscoring how dollar-mapped liquidity remains a core part of the regime’s on-chain strategy.

In framing this development, Lyman emphasizes a broader point about how policymakers should view Bitcoin. The move illustrates why some lawmakers advocate considering Bitcoin as a strategic asset, rather than pursuing a blanket hostility toward digital assets or a dismissive stance on their utility in national finance. As the discussion around crypto and national security evolves, this incident provides a real-world data point on how a state actor contemplates the potential of censorship-resistant settlement rails.

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Key takeaways

  • Iran publicly designates Bitcoin as a payment option for oil tolls crossing the Strait of Hormuz, signaling a strategic use of BTC beyond speculative trading.
  • Bitcoin’s censorship-resistant properties are cited as the primary rationale for its use in sovereign-level payments, according to Sam Lyman of the Bitcoin Policy Institute.
  • As of now, there is no on-chain evidence confirming BTC toll payments; Iran’s crypto activity remains dominated by USD-backed stablecoins, notably USDt.
  • Iran has shifted roughly $3 billion in cryptocurrencies since 2022, with the majority in stablecoins; U.S. authorities report a smaller portion of frozen assets relative to total movement, suggesting ongoing liquidity despite sanctions.
  • The episode feeds into a broader policy debate about whether Bitcoin should be treated as a strategic asset by Western lawmakers and regulators, rather than being treated solely as a fringe or risk-prone technology.

Bitcoin as a strategic asset in Iran’s trade payments

Iran’s government has long pursued a formal digital asset strategy, a stance that has evolved since at least 2018. In the Hormuz toll context, Bitcoin has been positioned as a possible backbone for cross-border settlement where conventional financial channels are constrained by sanctions and geopolitical pressures. Lyman pointed out that the government’s willingness to accept BTC alongside yuan and USD-pegged stablecoins reflects a deliberate hedging of liquidity channels in a restrictive environment.

In the eye of observers, the assertion that BTC serves as a strategic asset hinges on two factors: censorship resistance and reliability under pressure. Bitcoin’s network-persistence means it cannot be unilaterally shut down by a single authority, a feature that can be appealing when traditional rails are subject to sanctions or asset freezes. Lyman underscored this logic in his discussion with Cointelegraph, framing BTC as part of a broader toolkit rather than a quick fix for all payment frictions.

Still, the practical reality remains nuanced. The Iranian government has not publicly disclosed confirmed on-chain BTC toll payments for Hormuz tolls to date. Lyman notes that while BTC is listed among accepted instruments, on-chain activity in this specific payment channel has not been evidenced publicly. This gap between the stated policy and observable transaction data highlights a common challenge in assessing the real-world use of crypto in state finance: official statements can outpace, or partially obscure, on-chain signals.

As part of the same ecosystem, the government’s stance toward stablecoins continues to be influential. USDt, a dollar-pegged stablecoin issued by Tether, has long been a dominant instrument in Iran’s on-chain activity. Lyman pointed out that the majority of crypto interactions in Iran are denominated in USDT, underscoring how dollar-denominated liquidity remains a central pillar of the regime’s digital asset operations.

“This is one of the most significant situations where Bitcoin is very clearly a strategic asset. The reason why Iran wants to use Bitcoin for these transactions is that no one can freeze Bitcoin. No one can shut down the Bitcoin network.”

The comment, attributed to Lyman, captures the core tension: Bitcoin’s perceived resilience against external controls sits alongside the practical reality that stablecoins and other instruments still dominate domestic crypto flows. BPI’s analysis, including its coverage of the Hormuz episode, also notes that a substantial portion of Iran’s on-chain activity has historically moved through USDt rather than BTC, reflecting both liquidity preferences and the regulatory environments surrounding stablecoins.

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In a broader sense, the Hormuz toll framework can be read as part of a longer arc in which Iran has experimented with digital assets to bypass restrictions and diversify its financial channels. The government’s approach aligns with a multi-asset strategy rather than a single-asset solution, suggesting that BTC’s strategic prominence may emerge more from its stability of long-term censorship resistance than from its immediate transactional footprint.

Stablecoins and on-chain realities

The USDt dynamic is central to Iran’s crypto activity narrative. Lyman notes that the regime has used stablecoins extensively in its digital asset operations since the early days of the country’s crypto exploration. This preference persists despite publicized episodes in which stablecoin issuers and custodians faced enforcement actions or wallet freezes elsewhere in the ecosystem. Lyman frames this as a calculated risk, describing it as “rolling the dice” in the sense that stablecoins provide a familiar dollar proxy while carrying counterparty risk from issuers and custodians.

On the macro scale, Lyman estimates that Iran has managed to move roughly $3 billion in cryptocurrencies since 2022, with the majority denominated in stablecoins. Meanwhile, U.S. authorities have reported that only a fraction of those assets has been frozen—about $600 million—leaving a substantial portion still accessible for movement. The discrepancy between total crypto activity and frozen assets underscores how the regime has relied on the speed and flexibility of on-chain funds, particularly stablecoins, to navigate sanctions and maintain some degree of financial continuity.

These dynamics matter for policymakers and market participants alike. The use of stablecoins in sanctioned environments raises questions about enforcement reach, liquidity, and the substitution effects between different digital assets. It also highlights the ongoing importance of stablecoins in offshore and state-affiliated crypto activity, even as Bitcoin is increasingly framed as a strategic tool in high-stakes financial calculations.

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For readers tracking market implications, the Hormuz development adds another layer to the evolving relationship between geopolitics and crypto liquidity. While Bitcoin’s censorship-resistant property is appealing in theory, the actual balance of assets and the on-chain evidence of toll payments remain under close watch. The Iranian case also illustrates how state actors may leverage a portfolio of instruments—BTC, yuan, and stablecoins—to preserve monetary sovereignty in a constrained environment.

More broadly, the Hormuz case invites a closer look at how Western policymakers might treat Bitcoin in national-security terms. If Bitcoin is recognized as a strategic asset, it could influence future regulatory debates and sanctions policy, potentially encouraging or discouraging certain kinds of on-chain transactions depending on their perceived strategic value and accessibility to sanctioned networks.

What to watch next

The next phase will likely hinge on whether any verifiable on-chain BTC toll transactions materialize and how policymakers and regulators adjust their framing of Bitcoin within national-security and sanctions regimes. Observers will also monitor whether Iran expands or shifts its mix of currencies for tolls and cross-border trade, and how stablecoin governance and custodial practices evolve in constrained markets. The Hormuz episode remains a critical, real-world flashpoint for understanding Bitcoin’s evolving role in geopolitical finance.

For researchers and investors, the key takeaway is that Bitcoin’s strategic value is being evaluated in state contexts, even as practical adoption and verification lag behind rhetoric. The balance between censorship resistance and regulatory risk will continue to shape how institutions, custodians, and markets perceive Bitcoin’s place in sanctioned economies.

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Source note: These observations and figures are based on recent remarks from Sam Lyman, head of research at the Bitcoin Policy Institute. The Institute’s related analysis on the state of play around Bitcoin, the Strait of Hormuz, and the situation in Iran is available here: Bitcoin Policy Institute — State of Play.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Solana Price Prediction: SOL Is a Legacy Trap at $79 While AlphaPepe AI DEX Generates Real Traction for Early 1,000x Gains

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Solana Price Prediction: SOL Is a Legacy Trap at $79 While AlphaPepe AI DEX Generates Real Traction for Early 1,000x Gains

Solana trades at $79, down 31% year to date and 73% from its January 2025 high of $293. DEX volume collapsed 62% in three weeks. Active traders fell from 4.4 million to 400,000. Meme coin trading crashed 81%. A whale unlocked 1.82 million SOL worth $163 million in a single transaction. The network has never been healthier. Record TPS, Alpenglow upgrade momentum, SEC commodity classification. None of it has moved the price. SOL at $79 with a $47 billion market cap needs $79,000 per token for 1,000x. That is the legacy trap. While SOL grinds against it, AlphaPepe is generating real traction at $0.01494 with $890,000 raised, a live AI DEX, and 1,000x math that requires $15 billion, not $33 trillion.

Why the Solana Price Prediction Is Trapped

The meme economy that powered SOL’s 2024 rally has broken. New token launches on Pump.fun dropped 80% since January. The TRUMP token wiped $2 billion across 800,000 wallets. Stablecoin transfers fell 80%. The four million traders who left took the revenue model with them.

Standard Chartered revised its target from $310 to $250. Resistance between $95 and $105 has rejected every rally. Even the $250 bull case is a 3.2x requiring ETF inflows, a Fed pivot, and a DEX volume recovery with no current momentum behind it. The Solana price prediction is a macro story wearing a network price tag. The macro is not cooperating.

AlphaPepe AI DEX Generates the Traction SOL Cannot Convert

AlphaSwap is doing what Solana’s collapsed DEX economy stopped doing. The AlphaPepe cross-chain AI DEX screens contracts for exploit patterns before users interact, surfaces whale movements across chains, and collects fee revenue today. Not from meme speculation. From infrastructure utility in a category growing at 22.3% annually toward $120 billion.

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The developer proved their engineering across 500 million Shibarium mainnet transactions. A 10/10 BlockSAFU audit verified the contract. Supply fixed at 1 billion. Instant delivery. Zero vesting. Stakers earning 85% APR. Q2 DEX launch approaching. Tier 1 CEX follows.

Over $890,000 from 7,700 wallets. 100 new addresses daily. Stage 13 at $0.01494 with the price climbing every few days and jumping when stages fill. A $2,000 entry secures 133,869 tokens. At $1.50 that reaches $200,803. At $3.50 it crosses $468,541. Buyers at $2,000 or above can apply code ALPHA50 for a 50% bonus. SOL needs $47 billion in new capital for a 2x. AlphaPepe needs Q2 for 1,000x.

The Legacy Trap Has a Floor. The Presale Has a Deadline.

SOL will recover when macro turns. The network deserves a higher price. But the Solana price prediction at $79 is capped by a market cap that makes exponential returns impossible. AlphaPepe at $0.01494 with $890,000 raised and a live AI DEX is not capped by anything except the listing date. Stage 13 is filling.

Click To Visit AlphaPepe Official Website To Enter The Presale

FAQs

Why is SOL a legacy trap at $79?
SOL’s $47 billion market cap needs $79,000 per token for 1,000x. DEX volume collapsed 62%, active traders dropped from 4.4 million to 400,000, and the price is down 31% YTD despite record network performance.

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How does AlphaPepe generate real traction?
AlphaSwap is a live AI DEX collecting fee revenue with contract screening and whale tracking. Over $890,000 raised across 7,700 wallets at $0.01494.

Is the AlphaPepe presale still open?
Stage 13 at $0.01494 with over $890,000 raised and 7,700 holders. Instant delivery, no vesting, Q2 DEX launch approaching.


Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

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Could The Presale Beat Two Hot Layer 1 Plays Of 2026?

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Could The Presale Beat Two Hot Layer 1 Plays Of 2026?

Comparing market value SUI Avalanche Pepeto right now reveals something massive. $9.17 million flowed into a presale while AVAX and SUI jump on CME futures news and a South Korean payments deal per CoinGecko. Sui Foundation just confirmed sponsorship of the Hong Kong Web3 Festival on April 20-23.

The wallets that got rich from crypto did one thing: they bought before the crowd noticed. AVAX trades at $9.67 and SUI at $1, but Pepeto already has the exchange built, the listing locked, and 100x written into the math between presale and listing day.

Sui (SUI) trades at $1 with a $4.2 billion cap. Avalanche (AVAX) sits at $9.67 with $4.17 billion. CME Group locks in AVAX and SUI futures on May 4 pending CFTC approval, while Ava Labs signed an MOU with South Korean payment giant NHN KCP on April 14 to build a payments-optimized L1 using Avalanche infrastructure.

The math sits in plain view: two Layer 1s pricing in months of slow institutional buildup, against a presale at six zeros that packs that wait into one event.

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Comparing Market Value SUI Avalanche Pepeto Side-By-Side

Pepeto: The Ground Floor That SUI And Avalanche Cannot Reset

SUI and AVAX earned their seats at $4.2 billion and $4.17 billion. But tokens already trading on every exchange rarely deliver the biggest wins. Those land on coins still hidden in presale. Pepeto pulled in $9.17 million because the tools are built and the Binance listing is locked. Tokens already move between Ethereum, BNB Chain, and Solana on the bridge for free.

Trading on PepetoSwap costs zero. Not Uniswap’s 0.3%, flat zero. The full bag stays intact from entry to exit. While listing day pulls closer, 182% APY rewards stack tokens into every wallet daily, which means the supply that reaches the market on day one shrinks while demand lands against a thinner float.

Why Smart Money Fills The Presale While Layer 1s Consolidate

The valuation gap puts the case on the table. The presale market cap looks tiny next to either coin, and that gap is the entire opportunity. The engineer who built Pepe and watched it touch $11 billion built every tool here. SolidProof signed off before any wallet entered. At $0.0000001865 you are buying ahead of the chart even existing.

The moment trading opens, that price is gone. Every BNB winner and every OKB holder shares one story: they bought when nobody was looking. Pepeto is that story right now, and the only thing between the wallets that win and the ones that regret is whether you move while the door is still cracked open.

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Sui (SUI) Price At $1.00 As Hong Kong Web3 Festival And CME Futures Build Bullish Pressure

Sui (SUI) trades at $1.00 per CoinMarketCap with a $4.2 billion cap, holding the $0.80 to $1.0 range that flagged a breakout last week. Sui Foundation locked in sponsorship of the Hong Kong Web3 Festival on April 20-23, and CME futures activate May 4. Sui Stack (S2) rolls out this year with free stablecoin transfers.

Changelly targets $1.25 for May, about 23% from here. Support at $0.95, resistance at $1.10. The strongest near-term call lands short of what a presale paired with one listing event delivers.

Avalanche (AVAX) Price At $9.67 As NHN KCP Deal And Spot ETF Filings Build Demand

Avalanche (AVAX) holds $9.67 per CoinMarketCap with $4.17 billion in market cap and the spot AVAX ETF (VAVX) live since January with staking baked in. NHN KCP signed the payments L1 MOU on April 14, RWA TVL on Avalanche doubled to $2.1 billion since April 2025, and 80+ subnet chains run on the network.

Support at $9.65, resistance at $13. Marzell Crypto flagged $34 once the trendline cracks, a 230% move on an unknown timeline. The presale floor moves on listing day.

Closing Thoughts

Comparing market value SUI Avalanche Pepeto makes the call straightforward. SUI at $4.2 billion and AVAX at $4.17 billion give you safer plays with single-digit upside on a multi-month view. Pepeto gives you a working exchange, a confirmed listing, and a presale price that neither of them will ever see again.

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Every BNB winner bought when the name was still unknown, and the Pepe cofounder cracked that exact window again on the Pepeto presale entry. Six months down the road you either hold the position that changed everything, or you replay this entry in your head for the rest of the year while the numbers sit in plain view.

Click To Visit Pepeto Website To Enter The Presale

FAQs

How does comparing market value SUI Avalanche Pepeto help investors?

The comparison reveals the upside gap. SUI at $4.2B and AVAX at $4.17B cap near 23% to 230% over months, while Pepeto targets 100x from one Binance listing event.

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Is Sui (SUI) a stronger buy than Pepeto right now?

No, Pepeto at presale pricing prints listing returns SUI cannot match at $4.2 billion. Sui (SUI) trades at $1 with CME futures launching May 4, capping near-term upside under 25%.


Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

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Kelp DAO rsETH Bridge Hack Drains $292M as DeFi Losses Top $600M in Two Weeks

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Brian Armstrong's Bold Prediction: AI Agents Will Soon Dominate Global Financial

TLDR:

  • An attacker drained 116,500 rsETH worth $292M from Kelp DAO’s LayerZero-powered bridge in one attack.
  • Stolen rsETH was deposited on Aave, Compound, and Euler as collateral to borrow ETH, creating bad debt.
  • Kelp DAO paused rsETH contracts on Ethereum mainnet and multiple L2s while coordinating with security experts.
  • Over $600M was stolen from more than 10 DeFi protocols in two weeks, with AI accelerating hacker capabilities.

Kelp DAO suffered a major security breach involving its LayerZero-powered rsETH cross-chain bridge. The attacker drained 116,500 rsETH tokens worth approximately $292 million from the protocol.

The stolen assets were then used as collateral on major lending platforms to borrow ETH. Kelp DAO paused rsETH contracts across the Ethereum mainnet and several Layer 2 networks amid the crisis.

Security experts from multiple organizations quickly joined the investigation as it got underway.

How the Kelp DAO rsETH Bridge Exploit Unfolded

The attacker targeted the LayerZero bridge within Kelp DAO’s cross-chain system. Some 116,500 rsETH tokens were drained during the attack.

The stolen funds were transferred to lending platforms including Aave, Compound, and Euler. There, the attacker used rsETH as collateral to borrow ETH, creating bad debt across those protocols.

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Kelp DAO confirmed the breach through its official X account that day. The protocol stated it had identified suspicious cross-chain activity involving rsETH.

Contracts were paused across mainnet and several Layer 2 networks accordingly. The team coordinated with LayerZero, Unichain, auditors, and security experts on root cause analysis.

Aave and several protocols froze or paused rsETH-related markets in response. This step aimed to limit further losses across affected platforms.

The AAVE token fell to $99.60 amid reports of growing bad debt from the exploit. Activity in impacted markets slowed as users closely tracked the situation.

Kelp DAO advised users to rely solely on its official handle for accurate updates. No attacker was publicly identified while investigations remained active.

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Multiple security firms assisted Kelp DAO’s internal team throughout the analysis process. The full breach scope had not been confirmed at the time of reporting.

$600 Million Stolen From DeFi Protocols in Two Weeks

The Kelp DAO breach came amid a broader wave of DeFi attacks in April 2026. Over $600 million was stolen from more than 10 protocols in two weeks.

Analyst Jeremy noted that AI is helping hackers execute attacks more efficiently. He identified the Kelp DAO incident as the year’s biggest DeFi hack.

Drift Protocol also lost $285 million to North Korean hackers using AI-powered social engineering. Those hackers spent months building insider trust before striking.

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Once positioned, the full attack unfolded in just 12 minutes. Rhea Finance separately lost $18 million through fake token pools that misled its oracle into approving withdrawals.

Further incidents targeted Grinex, Hyperbridge, Aethir, Dango, and Silo Finance. Grinex, a sanctioned Russian exchange, lost $15 million before suspending all operations.

An attacker on Hyperbridge minted one billion fake bridged DOT tokens notionally worth over $1 billion. However, thin liquidity meant only around $237,000 was actually extracted.

CoW Swap and Zerion were also hit in the same two-week stretch. CoW Swap’s frontend was hijacked through a DNS attack that led users to a phishing page.

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Zerion suffered credential theft through North Korean social engineering. The pattern across all these attacks reflects an expanding threat to the broader DeFi sector.

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Zcash Patches Four Critical Vulnerabilities Across Both Full-Node Implementations

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Brian Armstrong's Bold Prediction: AI Agents Will Soon Dominate Global Financial

TLDR:

  • Security researcher Alex “Scalar” Sol reported four Zcash vulnerabilities on April 4, 2026, via coordinated disclosure channels.
  • A crafted Orchard transaction with an all-zeros randomized key could crash any reachable zcashd or Zebra node instantly.
  • A turnstile accounting bug introduced in zcashd v5.10.0 could be triggered by routine peer-to-peer duplicate block headers.
  • Mining pools ViaBTC, Luxor, F2Pool, AntPool, and Foundry all deployed patches before the public release on April 17, 2026.

Zcash vulnerabilities have been patched across two full-node implementations following a coordinated security disclosure.

On April 17, 2026, Zcash Open Development Lab released zcashd v6.12.1, while the Zcash Foundation released Zebra v4.3.1. Security researcher Alex “Scalar” Sol reported the issues on April 4, 2026.

Four vulnerabilities were addressed, covering a node crash bug, a consensus enforcement gap, and a turnstile accounting bypass. No user funds were compromised, and no ZEC supply inflation occurred at any point.

Four Bugs Identified Across Both Zcash Full-Node Clients

The most directly exploitable bug was an Orchard transaction crash present in both zcashd and Zebra. A crafted transaction with an all-zeros randomized key encoding could immediately crash any node processing it.

Repeated broadcasting of such a transaction could effectively prevent nodes from participating in the network. No transactions triggering this condition were found on the Zcash mainnet before the patch.

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A related enforcement gap also existed between the two implementations. Zebra already enforced a protocol requirement on ephemeral public keys within Orchard actions, but zcashd did not.

This meant a crafted transaction could be accepted by zcashd while being rejected by Zebra. Such a transaction could have forced a visible chain fork between nodes running different clients.

A separate bug in zcashd, introduced with v5.10.0 in August 2024, could disable turnstile accounting under certain conditions.

Receiving a duplicate block header from a peer could silently reset pool balance tracking to null. This condition could arise from ordinary peer-to-peer network behavior, not only from deliberate attack. The turnstile tracks ZEC balances across shielded and transparent value pools and serves as a critical safety layer.

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Even so, this bug was not independently exploitable to steal or inflate ZEC. The official disclosure confirmed that “exploiting it to steal funds would require a separate, independent balance vulnerability on top of it.”

Any resulting turnstile violation would also have been publicly visible as a detectable chain anomaly. No such anomaly occurred on the Zcash mainnet before the fix was deployed.

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Mining Pools Deploy Patches Before Public Disclosure

Zcash Open Development Lab addressed the disclosure directly, stating: “Mining pools representing a supermajority of the network’s hash power, and the primary operator running Zebra in mining production, deployed patches prior to this disclosure.”

ZODL engineers Kris Nuttycombe and Daira-Emma Hopwood authored the zcashd patches and reviewed each other’s work.

Nuttycombe addressed the Orchard crash, enforcement gap, and turnstile accounting bug. Hopwood authored hardening patches for integer overflow undefined behavior and exception safety.

Mining pools ViaBTC, Luxor, F2Pool, and AntPool — each running zcashd — were contacted directly for coordination. Foundry, which runs Zebra in mining production, also deployed its patch ahead of public release.

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The Zcash Foundation’s Conrado Gouvêa separately developed and delivered the Zebra patch. This outreach ensured network stability was preserved throughout the entire disclosure process.

The zcashd v6.12.1 release also included broader hardening changes beyond the core vulnerability fixes. A chain supply value checkpoint was added at NU6.1 activation to enable future corruption detection.

Integer overflow protections were added across pool balance accumulation routines in multiple code paths. These additions provide an extra defense layer against edge-case exploitation scenarios.

This marks the second set of Zcash vulnerabilities disclosed within a month. On X, Zcash Open Development Lab stated: “We have no evidence that any of these bugs were exploited.

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User funds and privacy were never at risk, and no ZEC supply inflation was possible.” Alex “Scalar” Sol also reported the March 2026 Sprout verification vulnerability through the same coordinated channels. Users running either zcashd or Zebra should upgrade to the latest patched versions immediately.

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Bitcoin mining difficulty falls; next adjustment projected higher

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Crypto Breaking News

The Bitcoin mining landscape tightened again as the network’s difficulty dipped on the latest adjustment, underscoring the pressure facing public mining operators that have been selling BTC to fund ongoing costs amid higher energy prices and a subdued price environment. Data from CoinWarz placed the current mining difficulty at about 135.5T, a roughly 1.1% decline over the prior 24 hours, signaling a modest relief for issuers still dealing with razor-thin margins.

Looking ahead, CoinWarz estimates the next adjustment will push the difficulty higher to around 137.43T, with the change expected on May 1, 2026, at about 01:24 PM UTC. The calculation places the shift at 1,865 blocks from now, roughly 12 days, 18 hours, and 41 minutes of lead time. These sequential moves illustrate the ongoing tug-of-war between miners’ costs and the rewards embedded in the BTC network’s protocol.

Key takeaways

  • The Bitcoin network’s mining difficulty fell to roughly 135.5T, a 1.1% drop in the last 24 hours, signaling continued strain in a sector under cash-flow pressure.
  • The next difficulty adjustment is projected to rise to about 137.43T on May 1, 2026, after 1,865 blocks, roughly 12 days and change from now.
  • Publicly traded mining firms sold more BTC in Q1 2026 than in all of 2025 combined, totaling over 32,000 BTC, according to TheEnergyMag.
  • Consolidated BTC sales by MARA, CleanSpark, Riot, Cango, Core Scientific and Bitdeer exceeded 20,000 BTC in Q2 2022, a period associated with the Terra-Luna collapse and a then-deep bear market.
  • CoinShares’ Q1 2026 mining report shows about 20% of miners are unprofitable under current economics, highlighting persistent profitability headwinds despite operational changes by miners.

Record BTC liquidation and its implications for the sector

Publicly traded Bitcoin miners have increasingly relied on selling mined BTC to cover ongoing operating costs, a practice that has intensified as price swings and energy costs squeeze margins. The EnergyMag’s compilation indicates that in Q1 2026, a cohort of major players—MARA, CleanSpark, Riot Platforms, Cango, Core Scientific and Bitdeer Technologies—sold more than 32,000 BTC in aggregate. That figure surpasses the total BTC sold in all four quarters of 2025 combined, underscoring how the economics of mining have shifted toward cash preservation and liquidity management in a tougher market.

To put the scale in perspective, the Q1 2026 tally surpassed the 20,000 BTC sold in Q2 2022, a period that overlapped with the Terra-Luna collapse and a broad crypto downturn. The parallel illustrates how the sector’s response to stress has evolved: where miners once leaned on revenue timing and hedging, they now face a higher burden to convert freshly minted BTC into fiat to pay for electricity, hosting, and other fixed costs as the market’s risk premium remains elevated.

Miners typically unwind BTC holdings to meet operating expenses denominated in fiat, making their cash flow acutely sensitive to both BTC price fluctuations and the cost of power. The broader backdrop has grown more challenging as energy prices have trended higher in many regions and the crypto bear market extended its course through late 2025 and into 2026. The difficulty trend compounds these pressures: even as the price swings rattle sentiment, the network’s computational difficulty continues to trend upward, complicating profitability for operators with under-water margins.

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Profitability under pressure: a closer look at the data

CoinShares’ Q1 2026 mining report provides a sobering frame for the environment miners operate within. The study notes that about one-fifth of miners are unprofitable under current economics, a figure that signals that a significant slice of the mining sector remains at a break-even or loss point given prevailing BTC prices and energy costs. The report characterizes Q4 2025 as the most challenging quarter for Bitcoin mining since the April 2024 halving, due largely to a sharp price correction in October 2025 that pulled BTC from peaks around $125,000 to roughly $86,000 by year-end. Coupled with rising difficulty, these dynamics compressed margins and forced many operators to contend with tighter balance sheets.

Alongside these dynamics, the sector’s debt and capital expenditure plans—driven by the need to deploy new hardware and secure low-cost power—continued to shape strategic decisions. As operators balance capex with income, the ability to sustain production without eroding balance sheets remains a material question for 2026. The broader market has watched for any regulatory developments that could alter energy costs, tax treatment of mining, or access to cheaper electricity in key basins, all of which could tilt profitability in the months ahead.

Why this matters for investors and builders

From an investor perspective, the combination of rising difficulty and persistent BTC sales by miners creates a nuanced risk profile. On one hand, a higher difficulty suggests that continuing hardware investment could be necessary for those seeking to maintain production levels and capture block rewards. On the other hand, if miners’ cash flow remains constrained, they may favor further asset sales or debt-funding mechanisms, potentially creating selling pressure on BTC and altering the supply dynamics in the near term.

For builders and infrastructure operators, the current environment highlights the importance of energy strategy and location economics. Regions with access to affordable power remain the most competitive, and those with regulatory clarity around mining operations could attract future deployments. The fact that a significant share of miners remains unprofitable increases the emphasis on efficiency gains—from chip technology and cooling innovations to load management and energy hedging strategies.

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Regulators, too, are watching profitability trends as a signal of the sector’s resilience. As the mining industry contends with structural shifts—price volatility, energy costs, and the ongoing evolution of carbon and energy policies—the sector’s next moves could influence broader market sentiment and adoption of blockchain-based use cases that rely on robust, secure mining networks.

What to watch next

The next Bitcoin network difficulty adjustment—expected in early May 2026—will be a key data point for assessing whether miners can sustain operations under the current cost structure. Additionally, BTC price action into spring and summer 2026 will interact with mining economics in meaningful ways. Investors and operators should monitor energy price trends, operational expenditures, and any regulatory signals that could alter the cost of running mining facilities. If the sector can stabilize cash flow and leverage efficiency gains, the coming quarters may reveal a more resilient mining landscape even as the market remains cautious.

Ultimately, the story today is one of a sector recalibrating to a tougher macro and micro environment. How mining firms adapt—through cost discipline, technology upgrades, and strategic hedging—will shape the degree to which Bitcoin mining remains a volatile but enduring edge of the crypto economy.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Warren Accuses SEC’s Paul Atkins of Misleading Congress

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Warren Accuses SEC’s Paul Atkins of Misleading Congress

US Senator Elizabeth Warren has accused Paul Atkins, the head of the Securities and Exchange Commission, of possibly lying to Congress about the agency’s enforcement numbers.

Warren, the top Democrat on the Senate Banking Committee, said in a letter to Atkins dated Wednesday that the SEC’s enforcement data for fiscal year 2025, released on April 7, raised “significant concerns” about his answers at a Feb. 12 congressional hearing.

“At the hearing, I specifically asked you to comment on publicly available data highlighting a decline in SEC enforcement activity,” Warren said. “In response, you demurred, stating that you were ‘not sure what data’ I was looking at.”

“Now, it is clear that my assertion regarding the SEC’s declining enforcement actions was correct: the data you released last week show that the number of enforcement actions initiated by the SEC was lower than at any point in the last decade,” she added.

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An excerpt from Elizabeth Warren’s letter to Paul Atkins claiming she gave him an opportunity “to correct the record” on SEC enforcement. Source: Senate Banking Committee

The SEC has rolled back its enforcement against crypto companies under the Trump administration, settling or dismissing crypto-related lawsuits the agency launched under the Biden administration, garnering criticisms from some lawmakers.

Warren said the SEC’s enforcement data was “deeply disturbing” and showed it had “largely abdicated its enforcement responsibilities” as the agency’s enforcement activity had dropped to the lowest level in more than 20 years.

She told Atkins that, in light of the data, his answers at the hearing in February “were deeply troubling and raise concerns that you may have been deliberately trying to mislead the Committee about the state of SEC enforcement.”

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Warren said the hearing took place more than four months after the end of the 2025 fiscal year, and Atkins’ “deflection and claim to be unsure of the ‘data’ I was examining now appear deeply misleading, potentially designed to cast doubt on the now obvious fact that enforcement activity has declined significantly at the Commission under your watch.”

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Warren’s letter asked Atkins a series of questions about whether he was aware of the SEC’s enforcement efforts at the time of his testimony and requested that he explain the agency’s decline in enforcement.

The letter asked Atkins to respond to the questions by April 28.

The SEC did not immediately respond to a request for comment.

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