Drift, the largest perpetual futures exchange on the Solana blockchain, was hacked on Wednesday, April 1st, losing $280 million — roughly half of all customer funds held on the platform. The company described it as "a highly sophisticated operation that appears to have involved multi-week preparation and staged execution." Customer funds have been frozen while Drift works to contain the damage. Neither Drift nor the Solana Foundation responded to requests for comment.

The Iran war has forced Gulf oil exporters to confront a vulnerability they have long tried to avoid addressing. With the Strait of Hormuz — the narrow waterway through which roughly one-fifth of the world's oil normally passes — now under effective Iranian control, producers are revisiting expensive and politically complicated plans to build pipeline routes that bypass it entirely.

Blackstone's flagship $48 billion private credit fund suffered its first monthly loss in more than three years during February, as loan markdowns and broader market declines weighed on returns amid intensifying scrutiny of the $2 trillion private credit industry.

Canadian oil producers stand to gain up to C$90 billion ($65.6 billion) in additional revenue if crude prices maintain the elevated levels reached since the Iran war began, positioning the country as a major beneficiary of Middle East turmoil while intensifying calls for new export infrastructure.

India's central bank is burning through foreign exchange reserves at an unprecedented pace to defend the rupee and contain government borrowing costs, as fallout from the US-Israeli war against Iran threatens the world's fastest-growing major economy.