Binance to Delist B3USDT, DEGENUSDT, and Other Inverse Perpetual Contracts
Binance Futures will conduct automatic liquidations for specified inverse perpetual contracts at the times below, per an official announcement released April 23:
- B3USDT, DEGENUSDT, and BOBUSDT inverse perpetual contracts: April 28, 2026, 17:00 UTC+8
- ZKJUSDT, IRUSDT, and DAMUSDT inverse perpetual contracts: April 29, 2026, 17:00 UTC+8
Following the automatic liquidations, Binance Futures will delist all the aforementioned inverse perpetual contract trading pairs.
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JPMorgan Chase: KelpDAO Incident Leads to $20 Billion DeFi TVL Evaporation, Funds Inclined to Choose USDT for Safety
April 23 — Morgan Stanley analysts noted in a Wednesday report that ongoing DeFi exploits and sluggish growth are still curbing institutional interest in the space, led by Managing Director Nikolaos Panigirtzoglou.
A recent major hack tied to Kelp DAO wiped out roughly $20 billion in DeFi Total Value Locked (TVL) in just days, the report said. The attack exploited a cross-chain bridge vulnerability: the hacker minted $292 million in uncollateralized rsETH tokens, then used them as collateral on the Aave lending protocol to borrow real ETH, resulting in ~$230 million in defaults.
“The event triggered capital outflows from a liquidity pool with no direct exposure to the targeted asset, showing DeFi’s interconnected nature can be a vulnerability during adverse events,” the analyst added. LayerZero and blockchain security researchers have linked the hack to North Korea’s Lazarus Group. Some stolen funds have been frozen, while the rest are being shuffled between multiple wallets and
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Lido: EarnETH Loses Around 9% of Assets in KelpDAO Incident, Core Staked Assets Safe
On April 23, Lido issued an update on the KelpDAO security incident, noting its Earn series vaults are collaborating with the management team to resolve issues tied to rsETH exposure and lending market liquidity crunches.
The core staking protocol remains unaffected, with stETH and wstETH secure and stable. Currently, only the EarnETH vault has ~9% of its total value locked (TVL) exposed to rsETH; deposits and withdrawals are temporarily paused pending a resolution.
Roughly $70 million in ETH has been recovered from the prior attack, with ongoing efforts to recoup remaining assets and allocate losses. To ease liquidity pressure, the management team has reduced leverage and optimized position structures, cutting wETH debt exposure significantly. Should losses occur, EarnETH will activate a $3 million "first-loss protection mechanism" (covered by the DAO).
For other vaults:
- DVV and EarnUSD remain unaffected and operational.
- The GGV sub-vault is posting negative returns d
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Bitcoin Surges Above $78,000
On April 23, Bitcoin climbed above $78,000, per HTX market data, with a 1.1% drop in its 24-hour price.
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During the US-Iran conflict, Polymarket's trading volume surged, with over $100 million in related transactions on January 4th.
April 23rd — Prediction markets saw a surge in trading volume amid heightened uncertainty over Trump’s Iran policy and social media posts, per *Fortune*.
Dune data shows 4.13 billion Iran war-related trades between April 5 (Sunday) and April 8 (the day after Trump announced a ceasefire), totaling over $1 billion.
On April 8, Polymarket recorded more than 100,000 trades on the event “Will Trump likely deploy troops to Iran?” — marking the year’s highest daily volume at the time.
Earlier triggers: After Trump posted on Truth Social April 5 demanding Iran “open that damn strait,” trading spiked on Polymarket for the event tracking invasion likelihood. Then, following his April 7 insinuation that “tonight will see the end of an entire civilization,” the “Will there be a ceasefire?” event overtook it as the top-traded topic. Dune dubbed Trump an “unpredictable machine,” noting his “Twitter governance” style drove volume.
Bipartisan criticism over alleged insider trading has dogg
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