Today's top news highlights:

The National Development and Reform Commission has made a decision to prohibit foreign investment in the Manus project in accordance with laws and regulations.

Regulation & Macro

The National Development and Reform Commission has made a decision to prohibit foreign investment in the Manus project in accordance with laws and regulations.

The Office of the Working Mechanism for Foreign Investment Security Review (National Development and Reform Commission) has made a decision to prohibit foreign investment in the Manus project in accordance with laws and regulations, and has required the parties involved to withdraw the acquisition transaction.

Iran proposed an agreement to reopen the Strait of Hormuz to the United States, but postponed nuclear negotiations.

Iran has made a new proposal to the United States, prioritizing an agreement on reopening the Strait of Hormuz and lifting the maritime blockade, while nuclear negotiations are delayed. Trump is expected to hold a situation room meeting on Iran with his senior team on Monday.

The window for the US crypto legislation, the Clarity Act, is narrowing; May is crucial.

The Clarity Act, the US cryptocurrency market structure bill, saw no public progress in April, and with Congressional summer approaching, the legislative window closed. May 25th is considered the deadline. The Senate Banking Committee has not yet scheduled a token hearing. The issue of stablecoin yields remains a major point of contention. Last week, over 100 cryptocurrency companies signed an open letter urging the bill's advancement.

Iran proposes a three-phase negotiation plan

Iran, through intermediaries, conveyed its three-phase negotiation plan to the United States: the first phase involves ending the war and obtaining a guarantee of no further conflict; the second phase involves studying the management of the Strait of Hormuz; and the third phase involves discussions on the nuclear issue. Iran will not participate in nuclear negotiations until an agreement is reached in the first two phases.

Project Updates

Western Union will launch its stablecoin USDPT next month and plans to launch stablecoin cards.

Western Union announced the launch of its Solana-based stablecoin USDPT next month as an alternative to the SWIFT network for settlements between the company and its agents. It will also launch a digital asset network connecting crypto wallets to its retail and agent network, allowing users to exchange digital assets for local currencies. Furthermore, it plans to launch USD stablecoin cards in dozens of markets later this year, allowing consumers to spend in the stablecoin.

Telegram launches no-code AI bot building tool

Telegram has launched a no-code AI bot building tool. Users obtain a key through the LobsterFather bot, integrate with platforms such as Telewer, GPTBots, or Lazy AI, and set dialogue styles and functions. It supports models like GPT and Llama. A Master Bot can be created to manage sub-bots, suitable for multiple chat groups. This feature integrates with Telegram Business, allowing bots to autonomously reply to messages and organize communities. Note the risks associated with third-party data security.

AAVE tokens are listed on the Solana network via Sunrise.

The AAVE token is now available on the Solana network via Sunrise, and users can trade it natively in Solana wallets, DEXs, and aggregators.

Upbit will list its PRL token on the Korean Won, BTC, and USDT markets.

South Korean cryptocurrency exchange Upbit will list the PRL token on the Korean Won, BTC, and USDT markets, with trading starting at 17:30 local time on April 27.

Tencent QClaw releases major upgrade: supports Hermes, and integrates with DS-V4 and Hy3 preview.

QClaw v0.2.14 upgrade: Supports Hermes framework, enabling the creation and execution of Hermes-type Agents; Inspiration Square is upgraded to Expert Square; Remote control of WeChat Mini Programs supports voice interaction and file sharing; Underlying model supports Hy 3 preview and DeepSeek-V4 Pro; Connectors now include Baidu Cloud, Ctrip, Fliggy, and Tencent News; Agent team collaboration function based on Tencent Docs is also launched.

DeepSeek input buffer price reduced to 1/10 of the original price

Effective immediately, the price for input cache hits across all DeepSeek API services has been reduced to 1/10 of the original price. The Pro model will also enjoy a limited-time 25% discount until May 5, 2026. After the price reduction, DeepSeek-V4-Pro input (cache hit) is ¥0.025 per million tokens, and DeepSeek-V4-Flash input (cache hit) is ¥0.02 per million tokens.

Michael Saylor has released another Bitcoin Tracker post, and may disclose his accumulating data next week.

Strategy founder Michael Saylor posted another Bitcoin Tracker update, captioned 'The ₿eat Goes On.' As is typical, Strategy always discloses its Bitcoin holdings the day after the initial post.

Scallop lost 150,000 SUI due to a vulnerability in the sSUI reward pool and will fully cover the loss.

Scallop discovered a vulnerability in an affiliate contract related to the sSUI reward pool, resulting in a loss of approximately 150,000 SUI. The affected contract has been frozen. The core contract is secure; only the sSUI reward pool is affected. Scallop will assume 100% of the loss.

Investment and financing news

YZi Labs has invested in an AI company founded by Chinese entrepreneurs.

During the 2026 Hong Kong Web3 Carnival, He Yi revealed that YZi Labs had invested in a large-scale AI modeling company in China, but did not disclose its specific name. He Yi later clarified that it was an AI company founded by Chinese entrepreneurs.

Opinions & Analysis

Binance attracted a total of $6 billion in stablecoin inflows in March and April.

Binance attracted $6 billion in stablecoin inflows in March and April, with nearly $3.5 billion flowing in during April alone, a stark contrast to the approximately $7.6 billion net outflow earlier in the month. Despite escalating US-Iran tensions increasing market uncertainty and rising inflation concerns weighing on risk assets, the stablecoin inflow trend has clearly shifted. Analysts point out that when inflows exceed outflows on major exchanges, it indicates that some markets are beginning to reposition themselves to participate in the gradual recovery of the past two months. If this trend continues, it could provide support for a more positive market outlook in the short term.

Bitcoin's current rise is driven by demand in the futures market, while spot demand has not yet recovered.

Bitcoin's current surge is primarily driven by demand in the futures market. Open interest is rising, but despite ETF inflows and Strategy's buying, on-chain apparent demand remains negative. Historically, bear markets only end when both spot and futures demand recover.

VanEck Analyst: Bitcoin Shows Two Bullish Signals: Declining Hashrate and Negative Funding Fees

Bitcoin has shown two historically bullish signals: negative funding fees and a concentrated decline in hashrate. The 7-day average funding fee has turned negative to -1.8%, the lowest since 2023; the hashrate has fallen to the 16th percentile. Since 2020, the 30-day average return for Bitcoin during periods of negative funding fees has been +11.5%, a hit rate of 77%. In 6 of the past 7 hashrate declines, the median price increased by +37.7% 90 days later.

Important data

Last week, digital asset investment products saw net inflows of $1.2 billion.

Digital asset investment products saw inflows of $1.2 billion last week, marking the fourth consecutive week of net inflows, bringing total assets under management to $155 billion. Of this, Bitcoin saw inflows of $933 million, Ethereum $192 million, and shorting Bitcoin $16.5 million. Blockchain stock ETFs saw inflows of $617 million over the past three weeks. Inflows were concentrated in the US ($1.1 billion), Germany ($61.7 million), and Switzerland ($35.2 million).

SUI, JUP, SIGN and other tokens will see a major unlock next week, with approximately $40 million worth of SUI tokens unlocked.

Major unlocks next week: SUI (approximately $40 million), JUP (approximately $9.2 million), SIGN (approximately $7 million), EIGEN (approximately $6.6 million), GUN (approximately $5.5 million), OMNI (approximately $5.3 million), KMNO (approximately $4.5 million), ENA (approximately $4.4 million), OP (approximately $3.9 million), ZETA (approximately $2.5 million), ZORA (approximately $2.3 million).

Huang Licheng had $86 million in long positions in BTC and ETH, but lost $73.44 million over the past six months.

Machi Big Brother (Huang Licheng) currently has $44.2 million in long positions in BTC and $41.8 million in long positions in ETH on-chain, totaling $86 million. He has lost $73.44 million trading cryptocurrencies over the past six months.

A whale placed a buy order for 397.7 BTC, worth $30.89 million.

A whale placed a buy order for 397,718 BTC at $77,686.5, worth $30.89 million, with the initial target of 10 large targets. BTC briefly approached $80,000 this morning before falling below $78,000.

Ethereum spot ETFs saw net inflows of $155 million last week, marking the third consecutive week of net inflows.

Ethereum spot ETFs saw net inflows of $155 million last week. BlackRock's ETHA saw net inflows of $138 million, with a historical total net inflow of $11.97 billion; ETHB saw net inflows of $60.9 million; and Grayscale's ETHE saw net outflows of $49.23 million. As of press time, the total net asset value of Ethereum spot ETFs is $13.79 billion, with a historical cumulative net inflow of $12 billion.

Bitcoin spot ETFs saw net inflows of $824 million last week, marking the fourth consecutive week of net inflows.

Bitcoin spot ETFs saw net inflows of $824 million last week. BlackRock's IBIT saw net inflows of $733 million, with a historical total net inflow of $65.37 billion; Ark & 21Shares ARKB saw net inflows of $59.6 million; and Grayscale's GBTC saw net outflows of $59.01 million. As of press time, the total net asset value of Bitcoin spot ETFs was $102.64 billion, with a historical cumulative net inflow of $58.23 billion.

A whale redeemed 300,000 SOL tokens from its stake and transferred them to Binance, amounting to approximately $26.07 million.

In the past half hour, a SOL staking whale redeemed all 300,000 SOL (US$26.07 million) from its stake and transferred them to Binance.

A whale that had been dormant for two years deposited 300 BTC into Binance; it may profit $17.6 million after selling them.

A whale, after two years of inactivity, deposited 300 bitcoins (worth $23.4 million) into Binance. These 300 bitcoins were withdrawn from Bitfinex three years ago at a price of $19,329, and now represent a profit of $17.6 million.

The whale pension-usdt.eth has a floating loss of $15.25 million on its short positions in BTC and ETH.

The whale pension-usdt.eth shorted $110 million worth of BTC and ETH at the beginning of the month with 3x leverage, and is currently experiencing a floating loss of $15.25 million. It shorted 1,000 BTC at $67,992, incurring a floating loss of $10.57 million, with a liquidation price of $99,394; and shorted 20,000 ETH at $2,132, incurring a floating loss of $4.68 million, with a liquidation price of $3,400.

A whale deposited 5,532 ETH into HyperLiquid for selling and closed out some of its short ETH positions.

In the past 24 hours, whale '0xed4' deposited 5,532 ETH ($13 million) into HyperLiquid for selling. The whale also closed out a 20x ETH short position and still holds a 20x ETH short position on Lighter.

A new address withdrew 671.74 BTC from Binance, equivalent to approximately $50.44 million

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