Morning Minute: Bitcoin Clears $79,000, Then Reverses

Morning Minute is a every day publication written by Tyler Warner. The evaluation and opinions expressed are his personal and don’t essentially replicate these of Decrypt. And check out our new every day information present overlaying all the high tales in 5 minutes or much less, downloadable on Apple Pod or Spotify.

GM!

As we speak’s high information:

• Crypto majors rally then reverse as oil issues mount; BTC -1% at $77,300
• The US Authorities discloses that it’s working a Bitcoin node
• Justin Solar sues WLFI to unfreeze his tokens
• Andre Cronje’s Flying Tulip introduces a “circuit breaker” for DeFi
• MegaETH will get tenth app launch with Xeet, TGE anticipated in Might

📈📉 Bitcoin Clears $79,000, Then Reverses

Bitcoin crossed $79,000 Wednesday morning, reaching its highest stage in 11 weeks after President Trump introduced he was extending the US-Iran ceasefire indefinitely.

The transfer got here after Iran refused to ship negotiators to a second spherical of talks in Islamabad, and Trump stated the extension would maintain till Tehran submits a “unified proposal” to finish the battle.

However the value motion was shortlived, with Bitcoin falling again to $77,300 in a single day as oil issues mount and the IEA Chief referred to as that “We are facing the biggest energy security threat in history.”

Oil jumped one other 4% to $94/barrel and inventory futures have moved into the crimson after making one other new ATH yesterday.

⚖️ Justin Solar Sues Trump’s World Liberty Monetary Over Frozen Tokens

Justin Solar filed a federal lawsuit in California on April 21 in opposition to World Liberty Monetary, the Trump family-backed DeFi mission, alleging fraud, breach of contract, and unjust enrichment.

The grievance facilities on a hidden blacklist operate that WLFI quietly added to its token good contract in August 2025 – with no governance vote or any disclosure to buyers. Solar alleges WLFI used that operate to freeze roughly 2.9 billion of his WLFI tokens in September 2025 after he moved roughly $9 million value of holdings, a switch he says was routine. On the time of the freeze, his stake was value over $100 million.

WLFI fired again publicly: “We have the contracts. We have the evidence. We have the truth. See you in court.” Eric Trump went even additional, commenting on Justin Solar’s $6M banana buy. Effectively, I’ll allow you to learn his feedback for your self 👇

🗳️ Kalshi Fines Congressional Candidates for Betting on Their Personal Races

Prediction market platform Kalshi introduced Wednesday that it had fined and suspended three congressional candidates for “political insider trading” – betting on their very own elections.

The three are Ezekiel Enriquez, a Republican who ran in Texas’ twenty first Congressional District major; Matt Klein, a Democrat working in Minnesota’s 2nd Congressional District major; and Mark Moran, who ran in Virginia’s Democratic Senate major earlier than switching to an impartial marketing campaign.

Fines have been small, starting from $539 to $6,229.30. All three have been banned from the platform for 5 years. Two cooperated with Kalshi’s investigation although Moran didn’t.

Moran made clear the stunt was intentional. He wrote on X: “I traded $100 on myself, knowing this would happen… and the attention it would create to highlight how this company is destroying young men.” He stated as a senator he would “go after Kalshi and impose significant penalties – 25%, a vice tax – to pay down our national debt.”

The plot thickens…

₿ The US Authorities Is Working a Bitcoin Node

Admiral Samuel Paparo, commander of US Indo-Pacific Command (INDOPACOM), disclosed Wednesday that the US authorities is actively working a Bitcoin node and conducting operational community safety exams utilizing the Bitcoin protocol.

This adopted his Tuesday Senate Armed Companies Committee testimony, the place he advised lawmakers that “Bitcoin shows incredible potential as a computer science tool that, through the proof-of-work protocols, actually imposes more costs than just the algorithmic securing of networks.” He described Bitcoin as “a peer-to-peer, zero-trust transfer of value” with “really important computer science applications for cybersecurity.”

Notably, the framing tracks instantly with the Jason Lowery thesis that proof-of-work can operate as a physical-cost cyberdefense layer, analogous to traditional navy deterrence. Paparo’s testimony marks the primary time a combatant commander has publicly characterised Bitcoin as a nationwide safety asset in congressional testimony.

💸 André Cronje’s Flying Tulip Brings Circuit Breakers to DeFi Lending

André Cronje, the developer behind Fantom, Yearn Finance, and Solidly, is addressing one in all DeFi’s most urgent points along with his latest mission.

Flying Tulip, Cronje’s new AMM and lending protocol, has launched a programmatic circuit breaker module designed to rate-limit capital outflows throughout irregular withdrawal occasions.

The circuit breaker works by monitoring outflow velocity in actual time. When withdrawals exceed an outlined threshold, whether or not triggered by a wise contract exploit, oracle failure, or a big coordinated place unwind, the system routinely throttles the speed at which capital can exit the protocol.

Cronje has been vocal for years about DeFi’s want for TradFi-style threat infrastructure with out TradFi’s centralization trade-offs. Circuit breakers are commonplace in fairness markets (the NYSE halts buying and selling when the S&P drops 7%, 13%, or 20% in a session) however have been largely absent from DeFi as a result of they require both centralized admin keys or complicated governance coordination to set off. Flying Tulip’s implementation is totally programmatic, with no admin override, which implies it operates the identical approach no matter who’s watching.

After all the timing is notable after final week’s $292M KelpDAO exploit and accelerating points with Defi protocols being hacked. Maybe a DeFi-wide circuit breaker would ease the ache…

🌎 Macro Crypto and Markets

• Crypto majors are crimson as oil issues rise; BTC -1% at $77.7k; ETH -3% at $2,330; SOL -3% at $86; HYPE even at $41.10
• Secure (+18%), DEXE (+8%), and M (+7%) led high movers
• Oil +4% at $94; Gold -1% at $4,700
• Inventory futures are crimson after making one other new ATH yesterday
• GSR launched the primary actively managed multi-asset crypto ETF within the US on Wednesday, the GSR Crypto Core3 ETF (BESO) on Nasdaq, providing publicity to Bitcoin, Ethereum, and Solana with weekly rebalancing and staking rewards on ETH and SOL holdings
• Russia’s State Duma handed the primary studying of its long-awaited crypto invoice Wednesday, recognizing cryptocurrency as property and allowing its use in overseas commerce settlements, explicitly as a mechanism to bypass Western sanctions; home use of crypto for funds stays banned, with the ruble staying the only authorized tender inside Russia
• Robinhood Ventures Fund I (NYSE: RVI) closed a $75 million funding in OpenAI frequent inventory on April 17, making it one of many fund’s largest positions so far
• OpenAI launched workspace brokers in ChatGPT Wednesday, changing customized GPTs with a extra highly effective team-oriented successor powered by Codex; workspace brokers can deal with complicated, long-running duties like getting ready studies, writing code, and responding to messages, whereas working inside organization-set permissions and role-based entry controls

Company Treasuries & ETFs

Meme Coin Tracker

• Meme leaders have been crimson on the day; DOGE -2%, SHIB -2%, PEPE -4%, TRUMP -5%, BONK -3%, PENGU -3%, SPX -3%, FARTCOIN -6%
• uncraft (+100x), Burnie (+77%) and Noob (+180%) led notable movers
• Pumpcade rebounded 30% to $25M

💰 Token, Airdrop & Protocol Tracker

• Andre Cronje’s Flying Tulip mission launched a “circuit breaker” for DeFi utilizing a programmatic module to restrict outflows in excessive eventualities
• MegaETH had its tenth app launch with Xeet, that means that the MEGA TGE ought to certainly occur quickly
• Axie Infinity’s Ronin blockchain set Might 12 because the date for its migration from Ethereum sidechain to full Layer-2 community on the OP Stack; the shift cuts RON token inflation from over 20% to below 1% and jumps market Treasury charges 2.5x from 0.5% to 1.25%
• Consider App founder Ben Pasternak was arrested for assault and strangulation

🚚 What is going on in NFTs?

• NFT leaders have been largely inexperienced once more; Punks +3% at 28.9ETH, Pudgy +5% at 4.69 ETH, BAYC -5% at 8.64 ETH; Hypurr’s -3% at 375 HYPE
• Azuki (+19%), Elementals (+33%) and Doodles (+17%) led notable movers; Meebits additionally up 14%
• Nouns jumped 160% after the founder introduced that the 1 Noun/per day streak had lastly been damaged after 1,700+ days
• An 8-Punk sweep kicked off an enormous day of Punk motion that led to 16 general gross sales, probably the most in weeks