#Gate广场四月发帖挑战 Web3 Today Must-Read | April 10

Today’s Quick Overview
• Android low-level vulnerability endangers 30 million crypto wallets.
• CoreWeave secures $8.5 billion in massive funding for AI.
• SEC initiates review of crypto ETF options listing.
• U.S. Treasury Department opens top threat intelligence to crypto industry.
• Trump confidant urges Senate to pass crypto legislation.
• Circle plunges after security risks and rating downgrade.
• Gem becomes acquisition target due to European compliance license.
• Former SEC executive joins RWA leader to push IPO.
• Compliance platform Kalshi dominates 90% of prediction markets.
• Bitcoin ATM giant’s settlement account hacked and drained.

Today’s Analysis
Wall Street’s “transformation” of the crypto industry has entered deep waters. The most intriguing signal today isn’t the rise or fall of a certain project, but the $8.5 billion funding round for CoreWeave. This investment marks the end of an old era: the “computing power finance” that once supported the foundational logic of the crypto world is being completely swallowed by “AI infrastructure.”
In plain terms, Wall Street’s money is no longer satisfied with the volatile gains from Bitcoin mining; they’re after more stable cash flow—directly channeling the electricity and chips originally used for mining into AI large models. This is what’s called ComputeFi, which, although wrapped in crypto, has its core now rooted in Silicon Valley and Wall Street’s joint operation.
Interestingly, while capital is busy “replacing the cage,” U.S. regulators are quietly shifting from “crackdown” to “absorption.” The U.S. Treasury Department has unprecedentedly opened threat intelligence, previously limited to banks, to crypto companies. This is not an act of mercy but a substantial integration of the crypto industry into the national financial defense system. Plus, former SEC officials are jumping to roles at RWA (Real-World Asset Tokenization) companies like Securitize. The underlying logic is clear: regulators have realized they cannot eliminate cryptocurrencies, so they are instead legislating (like the CLARITY Act) and infiltrating talent to turn this “wild child” into a compliant, suited-up entity.
This compliance crackdown is especially obvious in prediction markets. Once, decentralized prediction platforms were the pride of Web3, but now, compliant platforms like Kalshi have captured 89% of the U.S. market share. This sends a warning to all hardcore investors: in the face of liquidity, the so-called “decentralized ethos” is often fragile. When Wall Street’s ETF options are approved for listing, and old exchanges like Gem compete fiercely for licenses such as in Europe, you should realize that the future’s main focus isn’t on how elegant the code is, but on who has the stronger license and whose assets can be integrated into traditional finance.
The real irony is that, despite top-level logic rushing toward compliance, the underlying security remains a leaky sieve. 30 million Android wallets are exposed to SDK vulnerabilities, and Nasdaq-listed ATM giants have been hacked in settlement processes, losing millions of dollars easily.
This indicates we are in an extremely fragmented stage: the superstructure has already moved to the cloud, with Wall Street discussing trillion-dollar asset tokenization; meanwhile, the foundation—those basic codes and settlement processes—remains fragile as a makeshift stage. This security gap may well be the biggest hidden risk of the next cycle’s major blow-up.