Morning Minute: Bitcoin Clears $80K, Reverses on Iran Missile Strike

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:

• Bitcoin passes $80K earlier selling disconnected aft Iranian rocket strike

• Clarity Act likelihood leap to 65% connected caller stablecoin output language

• Tether Q1 attestation reveals $1B successful nett for the quarter

• Hyperliquid’s HIP-4 prediction markets launch, does $10M measurement opening weekend

• NFT marketplace sees aggregate grail sales, an Art Blocks run, Fidenzas and Masks jumping and much successful different large weekend

📈 Bitcoin Clears $80,000 Amid “Project Freedom” Announcement

Bitcoin crossed $80,000 Sunday nighttime aft President Trump announced “Project Freedom”—a US subject cognition opening Monday to escort neutral overseas ships retired of the Strait of Hormuz.

Trump called it a “humanitarian gesture” astatine the petition of countries whose vessels are stranded successful the Gulf, and warned that immoderate Iranian interference “will beryllium dealt with forcefully.” Oil fell connected the quality arsenic markets priced successful the anticipation of partial Hormuz reopening for the archetypal clip since the warfare began February 28. BTC responded immediately, hitting its highest level since aboriginal February.

Notably, this Bitcoin question came connected a week of little ETF inflows ($160M successful nett inflows for BTC ETFs with $630M coming connected Friday), and zero bid from Saylor who didn’t bargain past week. That’s expected to alteration this week, with STRC apt trading backmost astatine par earlier Friday.

Then aboriginal this morning, terms reversed aft reports that Iran struck a U.S. warship with 2 missiles. Oil spiked 4% backmost to $105, Bitcoin fell from section highs of $80,400 to sub-$79LK, and banal futures flipped red. Looks similar we aren’t retired of the woods conscionable yet…

✅ The Clarity Act Just Cleared a Major Roadblock

Senators Thom Tillis and Angela Alsobrooks released the last stablecoin output compromise substance Friday night, removing what had been arguably the cardinal obstacle blocking the Digital Asset Market Clarity Act from advancing.

The latest change: Stablecoin issuers and integer plus platforms cannot connection yield, interest, oregon immoderate instrumentality simply for holding a stablecoin (a triumph for the banks). But activity-based rewards tied to transactions, level use, loyalty programs, and existent information are each inactive OK for output (a triumph for crypto protocols).

Coinbase CEO Brian Armstrong’s effect was 2 words: “Mark it up.” Coinbase CLO Paul Grewal said the connection “preserves activity-based rewards tied to existent information connected crypto platforms and networks.”