[News Brief] Apr 22, morning | Bonk Treasury Exploit-Linked Address Deposits Another 40 Billion BONK to Coinbase

Bonk Treasury Exploit-Linked Address Deposits Another 40 Billion BONK to Coinbase

On the 19th, PANews, citing on-chain analyst Yu Jin, reported that an address accused of siphoning BONK from the Bonk treasury deposited an additional 40 billion BONK, worth approximately $1.11 million, into Coinbase about five hours ago.

The address is said to have withdrawn 4.426 trillion BONK, worth about $21.2 million, from the Bonk treasury through a governance proposal. Of that amount, 2.426 trillion BONK, valued at around $7.88 million, has already been transferred to centralized exchanges.

Yu Jin added that BONK's price has fallen 41% over the past 12 days.

Claim of Bitcoin Consensus Vulnerability Raises Possibility of Chain Split

According to Odaily, Bitcoin News reported via X that Dathon Pwn claimed to have discovered a consensus vulnerability related to the delayed upgrade of BIP 110.

The alleged vulnerability suggests that nodes upgraded from existing software may retain historical chain records, while newly deployed BIP 110 nodes could reject them.

If true, this could create the possibility of a chain split in the Bitcoin network that may not be immediately visible externally.

Crypto Spot Trading Volume 7-Day Average Falls to $21.4 Billion

Cryptocurrency spot trading activity remained weak, with the 7-day average trading volume falling to $21.4 billion.

On the 19th, PANews cited GSR Head of Research Frank Chaparro as saying that the 7-day average spot trading volume is down about 80% from its peak of $104.3 billion on October 1, 2025.

The decline in spot volume is viewed as a sign of weaker market participation and liquidity, reflecting softer near-term market momentum.

2,055 BTC Transferred From Kraken to Anonymous Wallet

According to Whale Alert, 2,055 BTC was transferred from Kraken to an anonymous wallet on the 19th.

The transaction was worth about $132.95 million. Transfers from exchanges to external wallets are often interpreted as reducing immediately available sell-side supply, though the wallet owner and purpose of the transfer remain unconfirmed.

$191.2 Million USDC Moved From Aave to Anonymous Whale Wallet

According to Whale Alert, 191,203,909 USDC, worth about $191.25 million, was transferred from Aave to an anonymous whale wallet.

The transaction was recorded on the Ethereum network. Large stablecoin transfers can suggest shifts in market liquidity, but without confirmed exchange inflows or outflows, it is difficult to infer a clear price direction.

No Major U.S. Economic Data Next Week, Focus Turns to Earnings and ECB Meeting

PANews reported on the 19th that no key U.S. economic data releases likely to significantly affect Federal Reserve rate decisions are scheduled for next week. Instead, second-quarter earnings reports from major companies are set to accelerate, potentially affecting equities and risk-asset sentiment.

Key events include the U.S. June Conference Board Leading Economic Index on Monday, weekly U.S. ADP employment change on Tuesday, and earnings reports after Wednesday's close from Alphabet, Tesla, AT&T, IBM, and Texas Instruments.

On Thursday, Intel will report earnings, while the European Central Bank will announce its rate decision, followed by a monetary policy press conference by ECB President Christine Lagarde.

Markets are also watching for signs of slowing growth in artificial intelligence investment. Some fund managers are reducing AI-related exposure, and analysts say any confirmed weakening in the outlook could increase volatility in tech stocks.

Iranian Commander Warns of Destructive Retaliation if U.S. Acts Hostilely

According to Odaily, Iranian media reported on the 19th that Ali Abdollahi, commander of Iran's Khatam al-Anbiya Central Headquarters, said in a statement that Iran would respond with “destructive retaliation” to any hostile action by the United States.

Abdollahi warned that what he described as greedy and threatening behavior by the U.S. would provoke a firm and destructive response from Iran's armed forces. The remarks came amid ongoing military tensions in the Middle East.

Bitcoin Whale Transfers 583.23 BTC to New Wallet

PANews, citing Onchain Lens monitoring, reported that a Bitcoin whale transferred 583.23 BTC to a new wallet. The amount was worth about $37.57 million.

The address had purchased 852.469 BTC about eight years ago for roughly $15.63 million, when Bitcoin was trading at around $18,300.

Onchain Lens said the whale is splitting its holdings across new wallets while also sending some coins to exchanges.

One Year After U.S. GENIUS Act, Market Watches CLARITY Act

Bitcoin Magazine said on the 18th (local time) that one year after the passage of the U.S. GENIUS Act, “the CLARITY Act is the next step.”

The GENIUS Act is regarded as a major federal regulatory framework for digital assets in the United States. The CLARITY Act is intended to clarify digital asset market structure and supervisory authority, and the industry is closely watching whether it can reduce regulatory uncertainty.

Brian Armstrong Says Self-Custody Wallets Are Key to Expanding Open Finance

Coinbase CEO Brian Armstrong said self-custody wallets are a key tool for expanding the open financial system to more than 1 billion people.

According to Odaily, Armstrong said alternatives such as the Coinbase app work well in developed countries with regulatory clarity, but the U.S. accounts for only 4% of the global population. He explained that self-custody lowers barriers to account access and enables global expansion through software rather than requiring regulated entities and local teams in every jurisdiction.

Armstrong added that self-custody is also better suited for AI agents that need access to funds to perform tasks, and remains important in developed markets from the standpoint of economic freedom.

He also noted that former Base lead Jesse Pollak has stepped aside, and Jordan Fish (Cobie) will now lead Base. Pollak said Base will focus on three directions as a global financial blockchain: trading, payments, and agents.