News

Raw sugar futures on the London ICE market rose by 1.8% on Wednesday to 14.36 cents per pound, reaching an intraday high of 14.39 cents per pound, the highest since April 8. Further gains in the energy market provided support for sugar prices, as Brent crude hit a one-month high following reports that the US would extend the blockade of Iranian ports.The logic behind the rise in energy prices is that higher oil prices can encourage more cane to be used for producing biofuel ethanol, thereby reducing sugar output. Meanwhile, a survey published by S&P Global Commodity Insights on Tuesday shows that sugar production in Brazil’s key south-central region is expected to fall by 26.4% year-on-year to 541,000 metric tons in the first half of April.In the cocoa market, London cocoa rose 0.6% to £2,554 per ton, and New York cocoa increased 1.2% to $3,422. Traders pointed out that the market still worries that fertilizer shortages could negatively impact global production for the 2026/27 season, while initial signs of recovery have emerged after a decline in demand in 2025. Oreo maker Mondelēz International posted quarterly results that exceeded expectations, reflecting the resilience in demand for chocolate and biscuits.Coffee futures were mixed: Arabica coffee edged down 0.2% to $2.9015 per pound, with traders saying the Arabica coffee harvest in Brazil's largest producing region will accelerate next month, and dry weather is favorable for early progress. Robusta coffee dropped 1.3% to $3,437. Amid concerns sparked by Trump’s tariff remarks, the logic for the rise in raw sugar, supported both by energy transmission and Brazil’s production cut, is relatively clear.

Odaily reports that Andre Cronje stated that most current decentralized finance (DeFi) protocols no longer meet the definition of "strict DeFi," but rather resemble business systems operated by teams. This has sparked industry debate over whether "circuit breakers" should be introduced to address attack risks. In an interview, Andre Cronje pointed out that early DeFi centered around immutable smart contracts, but now many protocols rely on upgradable contracts, multi-signature permissions, off-chain infrastructure, and manual operational processes. Essentially, they have shifted from "immutable public goods" to "operational profit-driven businesses." He noted that, following several recent security incidents—including DeFi attacks totaling around $280 million and $293 million—the industry's risks have expanded from simple smart contract vulnerabilities to include infrastructure, permission controls, and social engineering attacks, representing “Web2-style risks.” To manage these risks, Andre Cronje's Flying Tulip recently introduced a circuit breaker mechanism that delays or queues withdrawals in the event of abnormal fund outflows, providing an approximately six-hour emergency response window to prevent systemic bank runs and further losses. However, this mechanism has also sparked controversy. Michael Egorov believes that a circuit breaker could introduce new centralized attack vectors; if controlled by signers or administrators, it could become a new source of security vulnerabilities or risks of asset freezes. He emphasized that DeFi design should minimize human intervention, not increase human control points. Industry analysis notes that this debate essentially reflects DeFi's gradual shift from the ideal model of "code as law" to a practical framework of "hybrid governance and operational control," with the boundaries of security being redefined.

```htmlJinse Finance reported that on April 29, the Federal Reserve will announce its latest interest rate decision at 2:00 AM (GMT+8) on Thursday. The market generally expects the interest rate to remain between 3.5% and 3.75%.```