Morning Minute is a daily newsletter written by Tyler Warner. The analyzes and opinions expressed are his own and do not necessarily reflect the views of Decrypt. And cCheck out our New daily news show Covers all the top stories in 5 minutes, and can be downloaded on Apple Pod or Spotify.
GM!
Today’s most important news:
- Major Cryptocurrencies Turn Red as Yields Rise and Oil Prices Rise; Bitcoin at $77.4 thousand
- SpaceX launches for pre-IPO trading on Hyperliquid, sees $40M trading volume in 12 hours
- Bitcoin ETFs saw nearly $1 billion worth of outflows last week, interrupting a 6-week streak of inflows.
- Aave restores WETH LTV ratios to pre-exploitation levels
- Trump family disclosures show several cryptocurrency deals including COIN, HOOD, and MARA
Bitcoin fell to $77,000 due to rising bond yields and rising oil prices
Bitcoin It fell from $82,000 on Thursday to Less than $77,000 By Sunday, US Treasury yields were the likely driver.
The 10-year bond yield reached 4.6% and the 30-year bond yield reached 5% for the first time since May 2025. The odds of raising interest rates in 2026 jumped to 40%.
ETFs didn’t help, as Bitcoin ETFs bled $1 billion in net outflows over the course of the week, snapping a six-week streak of inflows. All this outflow despite Saylor selling enough STRC to buy over 15,000 Bitcoin (we’ll see how much he actually bought today).
Ethereum fared even worse, falling nearly 10% during the week to $2,110, and Solana fully retraced its recent rally to near $100, settling at $84.
The only bright spot for major crypto companies is Hyperliquid which managed to jump 10% during the week to $45, thanks to its new Coinbase partnership and as news spread that the pre-IPO stock is seeing price discovery on its HIP-3 platform. In that regard, SpaceX debuted last night and has already seen $40 million in volume on Hyperliquid, so you can expect to get more coverage. Maybe a new setback…
The largest exchanges on Wall Street are trying to take on Hyperliquid
CME Group and Intercontinental Exchange (parent company of the New York Stock Exchange) Particular pressure has been put on the CFTC And members of Congress to rein in Hyperliquid, Bloomberg reported on Friday.
The exchanges told regulators that Hyperliquid’s decentralized structure and largely anonymous trading environment could allow bad actors to manipulate prices or circumvent financial sanctions, especially in oil markets, where Hyperliquid has seen massive volume growth since the Iran War began.
Hyperliquid oil perpetual futures rose from $339 million in cumulative trading volume in late February to more than $7.3 billion by March 12. The exchange now holds 34-44% of the decentralized derivatives market, with $619 billion in total trading volume in the first quarter of 2026.
The Hyperliquid Policy Center, the exchange’s newly formed US advocacy arm, responded on Friday, calling the concerns “unfounded” and arguing that “Hyperliquid provides enhanced market transparency, publishing a complete record of every transaction in real time, making it a uniquely hostile environment for insider trading or price manipulation.” Notably, this follows Cerebras’ debut on the Nasdaq last week, where Hyperliquid was widely viewed as a home for price discovery ahead of its IPO.
SpaceX’s pre-IPO contracts on Hyperliquid are now widely expected to go live (as soon as today) ahead of its Nasdaq debut on June 12. And if it observes the demand that many are anticipating, TradFi is expected to become even angrier.
Trump’s ethics dossier shows cryptocurrency trading while passing cryptocurrency legislation
President Trump’s family trust Provide two mandatory disclosure forms 278-T with the Office of Government Ethics on Thursday, covering more than 3,600 securities transactions from January through March 2026.
The filings show trades in cryptocurrency-related stocks, including Coinbase, Robinhood and a pair of bitcoin mining companies, all of which were carried out while the Trump administration was simultaneously advancing sweeping pro-crypto-regulatory reforms.
The filings show nine separate purchase entries for Coinbase. The most significant transaction occurred on February 10, with a reported value of between $100,001 and $250,000. The filing also includes two acquisitions of MARA Holdings stock, and eight strategic transactions including the January sale and purchase of Block, Robinhood and SoFi Technologies. Document report value ranges rather than exact dollar amounts. Trump himself has reported a personal stake of at least $51 million in digital assets.
Nearly 70 Trump administration officials own over $193 million in cryptocurrency assets, and Vice President Vance has disclosed between $250,000 and $500,000 in bitcoin; Health Secretary Kennedy between $1 million and $5 million.
The issue of conflicts of interest is not new; It has been a central Democratic objection to the Clarity Act throughout the coding process. But the timing of this revelation is notable because it comes three days after the Senate Banking Committee approved the Clarity Act, at the same moment that ethics language that would restrict government officials from profiting from cryptocurrencies is being negotiated for inclusion in the Senate version of the bill.
Drake called for SBF to release a new album
Drake dropped three surprise albums at midnight on Friday — “Iceman,” “Habibti” and “Maid of Honor” — totaling 43 songs, his first major solo release since 2023. It’s also Name dropped Notorious crypto villain.
On the track “Dust,” Drake raps: “FTX high-rise penthouse, yes / Samuel Bankman, release all my buddies, yes. Later in the song, he describes himself as “one of the top crypto pioneers in Bitcoin.”
Sam Bankman Freed, who works out of a federal prison where he is serving a 25-year sentence, responded Saturday in a response tweet: “Drake’s motivational package is real. Dust is a vibe — and when I go out, I can lend you my bean bag.”
Despite Drake’s pleas, bettors in the prediction market do not find SBF’s release from prison in 2026 very likely, with Possibilities By only 7%.
🌎 Total crypto and markets
- Major cryptocurrencies turn red and fall as yields rise and oil prices rise; Bitcoin -1.3% at $77.4 thousand; Ethereum -2% at $2,140; SOL -2% at $85; Noise +6% at $45.60
- Kite (+8%), stable (+7%) and HYPE (+6%) led the most important drivers
- oil +1% at $102; Gold is even at $4,540
- Stock futures It was slightly red with the Nasdaq down 0.3% with the US 10-year index up over 4.6%.
- ghost Restore WETH loan-to-value ratios to pre-exploitation levels via Ethereum Core, Ethereum Prime, Arbitrum, Base, Mantle and Linea, allowing users to borrow back against WETH
- Lombard Finance It migrated its bitcoin-backed assets worth over $1 billion from LayerZero to Chainlink CCIP on Friday.joining Kelp, Solv Protocol ($700 million), Re, and Kraken
- twin Jumped 25%+ in pre-market trading on Friday After the Winklevoss twins pumped $100 million into their company via the Winklevoss Capital fund, they purchased 7.14 million shares at $14 per share, paid entirely in Bitcoin.
- SpaceX It was launched for trading prior to the IPO on Hyperliquid, opening at $2.1 trillion and trading volume of $40 million
Corporate Treasuries and ETFs
- Bitcoin ETFs It saw net inflows of $290 million on Friday and a net flow of $995 million in the morning; ETH ETFs saw outflows of $66 million
- strategy Announce It will buy back a principal amount of $1.5 billion in convertible bonds for 2029, in a surprise move on Friday.
Meme Coin Tracker
- Meme leaders He was Very red Doji -6%, Shape -3%, Pipe -3%, Bingo -3%, Trump -5%, Bonk -5%, SPX -4%, Vartcoin -6%
- Bitcoin (+24%), World Cup (+40%) unc (+22%) led Solana’s top movers
- Prime movers Including Pitch (+17x), Aeon (+48%), Nook (+30%), and hermesOS (+90%)
💰 Token tracking, airdrop and protocol
🚚 What happens in NFTs?
- NFT leaders It was mostly green with the villains leading the way. BANK +2% at 33.25 ETH, BAYC +1% at 9.91 ETH, Pudgy -1% at 4.82 ETH; Hypurr +3% at 330 HYPE
- Florentines (+64%) and Normans (+13%) Leading movers
- New project ten thousand symbols From Rhynotic Mint at ~0.02 ETH (including gas fee) and up to 5x to 0.1 ETH
Daily debriefing Newsletter
Start each day with the latest news, plus original features, podcasts, videos and more.
