Trump token jumps on exclusive dinner news

ZKsync hacker returns stolen funds

Ethereum Layer 2 protocol ZKsync has recovered nearly $5 million in stolen assets after a hacker exploited a compromised key in its token airdrop contract earlier this week. The funds were returned within the 72-hour “safe harbor” window offered by the team, which included a 10% bounty if the majority of funds were returned.

“We're pleased to share that the hacker has cooperated and returned the funds within the safe harbor deadline,” ZKsync announced on X. The assets – over 44.6 million ZK tokens and nearly 1,800 ETH – are now held by the ZKsync Security Council pending a governance-led decision on next steps.

The ZK token briefly plunged to $0.04 during the incident but has since stabilized near $0.05. ZKsync emphasized that user funds were never at risk and that the core protocol and token contracts remain secure.

This recovery stands out amid a grim Q1 for crypto security. According to CertiK, losses from hacks and scams reached $1.67 billion in just three months, with a mere 0.38% of stolen funds recovered – down sharply from the previous quarter’s 42%. Private key compromises continue to dominate attack vectors, with Ethereum remaining the most targeted blockchain by far.

Solana trims validator support

The Solana Foundation is taking a major step to reduce its influence over network validators. Under a new “three-out, one-in” policy, for every new validator added to its Delegation Program, three underperforming validators will be removed – provided they’ve received Foundation support for at least 18 months and hold under 1,000 SOL in independent stake.

The move is aimed at boosting decentralization by encouraging validators to attract outside delegations. However, it has sparked debate, with some critics arguing that the network’s validator set is overly dependent on Foundation support. Data from Helius suggests over half of Solana validators could become unprofitable without that backing.

Despite concerns, Solana insiders say the move is essential for improving the network’s Nakamoto Coefficient – a metric that reflects how distributed control really is. While often cited as 19, that figure may be overstated. The Foundation believes this policy shift could drive meaningful improvements over time.

Metaplanet hits 5,000 BTC 

Japanese investment firm Metaplanet has officially reached 5,000 BTC in holdings, marking the halfway point in its 2025 goal of acquiring 10,000 Bitcoin. The company announced Wednesday it purchased 145 BTC for $13.6 million at an average price of $93,327 per coin.

This latest buy caps off a busy April for Metaplanet, during which it acquired over 1,650 BTC – worth $153 million – across five purchases. The Tokyo-listed company’s “21 Million Plan” ultimately aims to reach 21,000 BTC by 2026, echoing the treasury strategy of U.S.-based Strategy (formerly MicroStrategy).

Despite the milestone, Metaplanet’s stock fell 4.57% on the day to $2.49. Similar disconnects between Bitcoin buys and share price have been observed with other BTC-heavy companies, but Metaplanet remains one of the world’s largest public Bitcoin holders.

SEC roundtable targets custody gap

The U.S. Securities and Exchange Commission will hold its second crypto policy roundtable tomorrow, focusing on one of the industry’s biggest pain points: how to custody digital assets within U.S. regulatory frameworks.

The roundtable will feature senior SEC officials, crypto firms, and legal experts discussing gaps in current rules, which require investment advisers to use "qualified custodians" – typically banks or broker-dealers. These traditional custodians often lack the infrastructure to properly secure crypto assets, leaving firms in regulatory limbo.

Participants include Fireblocks, BitGo, Anchorage Digital Bank, Kraken, and Fidelity Digital Assets. Legal voices like Justin Browder and Neel Maitra are also set to weigh in on whether current rules can accommodate crypto-native models or need to be rewritten entirely.

This session follows an April 11 roundtable on crypto trading and precedes upcoming sessions on tokenization and decentralized finance. The roundtable series is part of new SEC Chair Paul Atkins' pledge to offer clarity and support for responsible innovation in crypto.

TRUMP token spikes 66%

President Donald Trump’s official Solana memecoin, $TRUMP, soared 66% on Wednesday after the announcement of a VIP dinner event for top token holders. The price spiked from $9.30 to $14.72 within an hour, marking its highest level since early March.

The trading frenzy pushed 24-hour volume to $295 million. $TRUMP was initially launched with the endorsement of Trump’s team, distinguishing it from other political memecoins. Details on the dinner – including whether the president will attend – have yet to be confirmed.

The surge comes amid wider market recovery. Bitcoin rose to $93,400, Ethereum climbed to $1,780, and Solana ticked up to $150. Analysts say the announcement triggered FOMO among traders, reinforcing the Trump administration’s pro-crypto stance and highlighting memecoins’ growing cultural influence.

From successful exploit recoveries and validator reform to large-scale Bitcoin treasury strategies and evolving regulation, today’s headlines reflect a crypto industry balancing risk and maturity. Whether through white hat resolutions, policy roundtables, or the memecoin market’s latest spectacle, crypto continues to reshape its relationship with both institutions and retail investors alike.