Everything web3, crypto, defi, degen
In brief Sonnet BioTherapeutics is merging with Rorschach I LLC to create Hyperliquid Strategies Inc. HYPE rose nearly 7% as the broader crypto market traded lower. The merger signals institutional confidence and long-term demand for HYPE, Decrypt was told. Decentralized exchange Hyperliquid’s HYPE token is bucking the broader market trend, soaring while the rest of…
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.GM!Today’s top news: Crypto majors are red overnight; BTC -2% at $108,500 Coinbase buys Cobie’s Echo + Up Only NFT for $375M Coinbase urges US…
In brief Solana founder Anatoly Yakovenko uploaded the code for a perpetual futures exchange to Github, but he says he isn’t developing the platform. Yakovenko invited other devs to steal his idea and wants to see more competition in the perpetual futures exchange sector. Despite the Solana founder pushing back, crypto degens still speculated on…
In brief AI models Grok, DeepSeek, and Claude are up big in a live, real-money crypto trading showdown. Google’s Gemini 2.5 Pro is the biggest loser of the bunch, underscoring reliability and transparency risks. The results deepen the divide between data-specialized and general-purpose AI approaches to finance. In early innings, Elon Musk’s Grok, DeepSeek, and…
In brief Market makers Wintermute and LO:TECH momentarily stopped trading amid last week’s $19 billion liquidation cascade. The pause came because their predefined trading rules were broken and they were forced to regroup, the market makers said. Wintermute told Decrypt that if the firm can “make markets in a safe, delta neutral way,” it will—but…
In brief More than $19 billion worth of crypto positions were liquidated on Friday amid a flash crash. Market experts believe that increased amounts of leverage in crypto could be creating systemic risk, with leverage cascades potentially becoming a more common occurrence. It comes as Hyperliquid and Aster have made high levels of leverage more…
In brief Synthetix (SNX) is up 190% over the past month ahead of its Q4 Ethereum mainnet perpetual DEX launch. The rally has fueled a spike in on-chain activity with 975 new wallets and 229 whale transfers in a day. Experts call the recent pullback a healthy correction, with long-term growth depending on user retention.…
In brief Monad unveiled an eligibility checker and early claim portal for its upcoming MON airdrop. The portal will be open until November 3 in which eligible participants can register an early claim on their tokens. Monad is set to rival Ethereum and Solana and raised $225 million in 2024 to build its layer-1 network.…
In brief Bitcoin dropped from $121,000 to $106,000 on Friday after Trump announced 100% tariffs on China, triggering $19 billion in liquidations within 24 hours. The crash hit leveraged traders on centralized exchanges hardest, with 1.6 million positions liquidated as the timing—after market close—left crypto as the only outlet for investor reaction. Leverage amplifies both…
In brief A whale trading on Hyperliquid that made millions shorting BTC and ETH last week is now shorting Bitcoin again. The trader added $40 million USDC to Hyperliquid on Monday, using it to short Bitcoin with 10x leverage. The open position is currently yielding around $700,000 in unrealized profits. A whale that earned close…
