#Gate广场四月发帖挑战 Web3 Today’s 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-tier threat intelligence to crypto industry.
• Trump confidant urges Senate to pass crypto legislation.
• Circle plunges after security risks and rating downgrade.
• Gem becomes M&A 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 particular project, but the $8.5 billion funding round for CoreWeave. This infusion marks the end of an old era: the “computing power finance” that once supported the fundamental 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 branded with crypto, has fundamentally become a joint venture between Silicon Valley and Wall Street.
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 shared only with banks, to crypto companies. This is not charity 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 and frightening: regulators have realized they can’t eliminate cryptocurrencies, so they’re instead legislating (like the CLARITY Act) and infiltrating talent to turn this “wild child” into a compliant, suited-up entity.
This regulatory iron fist is especially evident in prediction markets. Once, decentralized prediction platforms were a proud part of Web3; now, compliant platforms like Kalshi have captured 89% of the U.S. market share. This should serve as a warning to all hardcore investors: in the face of liquidity, the so-called “decentralized ethos” often crumbles. When Wall Street’s ETF options are approved for listing, and established exchanges like Gem compete fiercely for licenses such as the European one, you should understand that the future’s main focus isn’t code elegance but who has the tougher 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 easily drained of millions in settlement.
This indicates we are in a highly fragmented stage: the superstructure has 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 troupe. This security gap may well be the biggest hidden risk of the next cycle’s major blowout.