Morning Minute: Bitcoin Rebounds as Oil Falls

Morning Minute is simply a regular newsletter written by Tyler Warner. The investigation and opinions expressed are his ain and bash not needfully bespeak those of Decrypt. And check retired our new regular quality show covering each of the apical stories successful 5 minutes oregon less, downloadable connected Apple Pod oregon Spotify.

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Today’s apical news:

• Crypto majors rebounded aft a Thursday americium selloff; BTC +1% astatine $70.4k
• JPMorgan mentions Hyperliquid successful latest probe report
• TAO jumps 13% aft Chamath and Jensen Huang sermon connected latest pod
• Polymarket lands MLB partnership; Kalshi raises astatine $22B and sees record-setting day
• Myriad announces “milestone” effect round

🌍 Crypto Rebounds arsenic Traders Bet the War May End Sooner Than Feared

Crypto rebounded Thursday aft a brutal risk-off agelong earlier successful the week. Bitcoin had fallen below $69,000 during the selloff, but hazard assets recovered arsenic lipid reversed little and markets reacted to comments from Israeli Prime Minister Benjamin Netanyahu suggesting the warfare could extremity faster than galore had feared.

U.S. stocks besides recovered successful the day aft Netanyahu comments circulated saying the warfare with Iran would extremity “a batch faster than radical think.”

At the aforesaid time, lipid futures that had been sharply higher earlier successful the league turned lower, helping relieve immoderate of the ostentation and macro unit that had been hitting crypto.

Key Details

• Bitcoin had slipped beneath $69K during the panic earlier rebounding to $70.4k
• Oil prices swung arsenic overmuch arsenic 15% successful intraday trading
• Gold fell 0.5% connected the time and continues to beryllium outperformed by BTC

🤖 Crypto.com Cuts 12% of Staff successful an AI Pivot

Crypto.com is cutting 12% of its workforce, oregon astir 180 employees, arsenic portion of what CEO Kris Marszalek described arsenic an “enterprise-wide AI” pivot.

The speech is reframing its operations astir AI-driven execution, making this 1 of the much explicit AI-related restructuring moves from a large crypto institution truthful far.

The layoffs besides adhd to a increasing database of crypto occupation cuts this week, pursuing akin reductions astatine the Algorand Foundation and Messari.

Key Details

• Crypto.com is reducing headcount by 12%, affecting astir 180 employees.
• Marszalek framed the determination arsenic portion of an AI-driven operational shift.
• This is the company’s 3rd workforce simplification successful 4 years.

🏦 JPMorgan Is Now Talking About Hyperliquid

Hyperliquid is getting capable traction that JPMorgan is present explicitly mentioning it successful research.

The Block reported that JPMorgan analysts pointed to Hyperliquid’s increasing entreaty among non-crypto investors looking for 24/7 lipid trading vulnerability done perpetual futures.

That is different motion of Hyperliquid’s breaking retired of the crypto-native speech aind into mainstream. It is progressively being seen arsenic a level wherever traders tin entree macro products extracurricular mean marketplace hours, 1 of the clearest and strongest usage cases for crypto rails successful 2026.

Key Details

• JPMorgan highlighted Hyperliquid’s traction with traders seeking round-the-clock lipid exposure.
• The notation comes conscionable aft Hyperliquid expanded further into real-world and macro-linked perps.
• On a related note, the SEC approved Nasdaq’s regularisation alteration allowing tokenized securities to commercialized connected the exchange

🎯 Polymarket and Kalshi Have Blockbuster Day

Prediction markets had a immense time connected Thursday.

First, Major League Baseball named Polymarket its exclusive authoritative partner for prediction markets.

The league besides signed an “integrity framework” statement with the CFTC, creating a ceremonial transmission for confidential information-sharing astir threats to the integrity of baseball-related markets. Commissioner Rob Manfred said the agreements were meant to proactively negociate the rapidly increasing space.

Second, the Wall Street Journal reported that Kalshi is raising astatine a $22 cardinal valuation successful an ongoing round, with Coatue Management starring financing that would full astir $1 billion.

That is simply a immense fig for the assemblage and different motion that prediction markets person astir unlimited superior astatine their fingertips close now.

Key Details

• MLB signed an exclusive prediction-market concern with Polymarket.
• Polymarket and Kalshi proceed to acceptable caller records successful measurement astir each week, crossing $5B combined for the past 3 weeks successful a row
• WSJ reported Kalshi is being valued at $22B in a circular led by Coatue, with full financing around $1B.

🔮 Myriad Closes a ‘Milestone’ Seed Round

Prediction marketplace Myriad closed its effect concern round, with backing from MoonPay Ventures, Auros, EVG, Side Door Ventures, and Verda Ventures, on with idiosyncratic investors including Fundstrat co-founder Tom Lee, Blondish, and Luca Netz.

The squad described the rise arsenic a “milestone” for the platform.

CEO Loxley Fernandes said the caller superior volition beryllium utilized to put aggressively successful merchandise development, liquidity, and marketplace expansion.

The rise lands astatine a infinitesimal erstwhile prediction markets are seeing stronger organization and mainstream attraction crossed the board, and higher and higher raises reflecting that attraction (see Kalshi communicative above).

Key Details

• Investors see MoonPay Ventures, Auros, EVG, Side Door Ventures, and Verda Ventures.
• Angel investors see Tom Lee, Blondish, and Luca Netz.
• Proceeds volition spell toward product, liquidity, and expansion.

🌎 Macro Crypto and Markets

• Crypto majors are mixed but reversing aft a Thursday selloff; BTC +1% astatine $70.4k; ETH -1% astatine $2,140; SOL level astatine $89.2
• TAO (+14%), PI (+7%)  and FET (+7%) led apical movers
• Oil fell 2% to $94.80 and Gold fell different 0.5% to $4,670
• Gemini shares rose ~7% aft hours to $6.45 aft quality the speech chopped 30% of its workforce and volition absorption connected prediction markets
• BlackRock’s iShares Staked Ethereum Trust (ETHB) hit $254M successful AUM just 1 week aft its March 12 Nasdaq debut

Corporate Treasuries & ETFs

• The Bitcoin ETFs saw $90M successful nett outflows on Thursday, portion the ETH ETFs had $136M successful outflows

Meme Coin Tracker

• Meme majors were mixed; DOGE even, SHIB +4%, PEPE even, TRUMP -1%, PENGU +2%, SPX +1%, FARTCOIN +4%
• Chibi (+5700%), fine999 (+6700%), PUNCH (+26%) and testicle (+24%) led apical onchain movers

💰 Token, Airdrop & Protocol Tracker

• Chamath and Jensen Huang discussed TAO in the latest “All In” pod, driving a 13% rally to $280
• Prediction markets are expected to person had record-setting measurement Thursday amidst the opening of March Madness

🚚 What is happening successful NFTs?

• NFT leaders were red; Punks -1% astatine 28.9 ETH, Pudgy -3% astatine 4.06 ETH, BAYC -1% astatine 5.17 ETH; Hypurr’s -4% astatine 432 HYPE
• Chromie Squiggles (+4%) and Bearish (+55) led notable movers