Morning Minute: Paul Tudor Jones Calls Bitcoin Strongest Inflation Hedge – Decrypt

Morning Minute is a each 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 each day information present masking the entire prime tales in 5 minutes or much less, downloadable on Apple Pod or Spotify.

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At the moment’s prime information:

• Crypto majors rebound 1-2% forward of FOMC; BTC at $77.5k
• Paul Tudor Jones calls Bitcoin the strongest inflation hedge, higher than gold
• Pump Enjoyable burns $370M in tokens, proclaims new programmatic purchase again
• Robinhood’s HOOD inventory falls 10% on earnings miss, falling crypto income
• Polymarket in lively discussions with CFTC to carry ban on US customers

🟠 Paul Tudor Jones Calls Bitcoin Strongest Inflation Hedge

In a Tuesday interview on the Make investments Just like the Finest podcast, Paul Tudor Jones known as Bitcoin the strongest inflation hedge obtainable, explicitly rating it above gold.

His reasoning is simple: gold’s provide grows yearly; Bitcoin’s doesn’t. In periods of aggressive financial and monetary stimulus, he stated, Bitcoin is the standout inflation commerce, citing the 2020 surge because the clearest historic instance. “Bitcoin is unequivocally the most effective inflation hedge that there’s – greater than gold,” he stated.

His feedback on equities had been a bit totally different. He stated that present S&P 500 valuations remind him of the 2000 dot-com bubble. The inventory market cap relative to GDP is close to historic extremes. He warned will probably be “actually arduous to generate income” in shares over the subsequent decade, and added {that a} main market correction would worsen the federal deficit by collapsing capital-gains tax revenues and destabilizing the bond market.

📉 Robinhood’s HOOD Inventory Dips as Crypto Income Falls

Robinhood reported Q1 2026 outcomes Tuesday, lacking estimates on income and earnings. Complete income got here in at $1.07 billion in opposition to a $1.14 billion consensus. Internet earnings of $346 million ($0.38/share) was one cent in need of expectations. Shares fell 6% after hours and are down 10% premarket.

The motive force of the miss is simple: crypto transaction income fell 34% quarter-over-quarter to $134 million, and 47% year-over-year, monitoring Bitcoin’s 22% value decline over the identical interval.

The miss is notable as a result of the remainder of the enterprise held up. Prediction markets, futures, and index choices all posted file volumes in Q1. Equities and choices grew double digits. Sadly, HOOD’s income stays tightly correlated to BTC value motion, and the inventory has tracked BlackRock’s IBIT extra carefully than the S&P 500 for many of 2026. The Q2 restoration in crypto costs, if it holds, ought to present up within the subsequent print

🔥 Pump.enjoyable Burns $370M in Tokens, Guarantees New Buybacks

Pump.enjoyable executed a main token restructuring Tuesday, burning roughly $370 million price of $PUMP tokens (roughly 36% of circulating provide). The burn covers all tokens gathered by means of 9 months of 100% income buybacks.

On the identical time, Pump introduced a brand new programmatic buy-and-burn for PUMP tokens utilizing 50% of income. They are going to use an irreversible good contract locking 50% of all web income from the Bonding Curve, PumpSwap, and Terminal into automated open-market purchases and burns for the subsequent 12 months. The remaining 50% will fund operations and progress.

Zoomed out, Pump.enjoyable has seen large success. Previously few years, Pump has:

• Raised $500 million in 12 minutes by means of its $PUMP token sale
• Surpassed $1 billion in lifetime platform income
• Generated tons of of billions in buying and selling quantity.

However regardless of allocating 100% of income to buybacks, the workforce stated a belief deficit developed round what these bought-back tokens would ultimately be used for. The hope is that this new burn removes that uncertainty completely (or not less than for the subsequent 12 months).

🤖 The CFTC Is Utilizing AI to Assessment Crypto Functions

CFTC Chairman Mike Selig instructed CoinDesk that the company is constructing AI instruments to evaluate crypto registration purposes and monitor buying and selling markets, as a direct response to shedding greater than 20% of its workforce below Trump’s federal staffing cuts.

The present course of is totally handbook with doc submissions reviewed by workers. The brand new system will flag incomplete purposes, pace up suggestions, and reject filings that aren’t materially full. Present workers are being skilled on Microsoft Copilot whereas in-house swap knowledge and market surveillance instruments are in growth.

Selig recognized the joint CFTC/SEC digital asset taxonomy steering as probably the most consequential crypto motion of his tenure, and put prediction market individuals “on discover” concerning the company’s enforcement posture. Notably, the SEC has roughly six occasions the CFTC’s workers, whereas the CFTC’s mandate is increasing quickly to cowl crypto, prediction markets, and derivatives. The hope is that AI may help make up for that useful resource hole…

🇺🇸 Polymarket Is Making an attempt to Come Again to the U.S.

Polymarket is in lively discussions with the CFTC to carry the ban on U.S. merchants from its foremost worldwide alternate, Bloomberg reported Tuesday.

The restriction has been in place since a 2022 settlement by which Polymarket paid a $1.4 million nice and agreed to exit the US market after working an unregistered occasion contract facility. A separate US-only Polymarket platform acquired CFTC clearance in November following the corporate’s acquisition of a registered alternate, however that platform has but to completely launch.

A CFTC vote is required to take away the ban. With 4 fee seats at present vacant, Chairman Selig is the only real sitting commissioner, which may simplify the approval course of. If cleared, Polymarket’s foremost alternate would compete immediately with Kalshi on US soil for the primary time.

🌎 Macro Crypto and Markets

• Crypto majors rebounded 1-2% forward of FOMC at present; BTC +2% at $77.5k; ETH +3% at $2,330; SOL +2% at $85; HYPE +1% at $40.30
• DOGE (+12%), PEPE (+8%) and FIL (+7%) led prime movers
• Oil +4% at $103; Gold -1% at $4,570
• Inventory futures are barely inexperienced forward of FOMC and regardless of surging oil
• The CFTC sued Wisconsin Tuesday, making it the fifth state the company has taken to federal courtroom in lower than a month over prediction market jurisdiction
• Tether introduced Tuesday it’s constructing a brand new class of modular, high-density Bitcoin mining programs in partnership with Canaan and ACME Swisstech
• Localhost Analysis introduced a brand new Publish Quantum Cryptography Group Tuesday, partnering with Stanford cryptographers Benedikt Bünz and Dan Boneh to fund devoted analysis into Bitcoin-specific post-quantum signature schemes
• Canada introduced plans to ban crypto ATMs to guard its residents from fraud

Company Treasuries & ETFs

Meme Coin Tracker

• Meme leaders had been very inexperienced; DOGE +12%, SHIB +6%, PEPE +8%, PENGU +1%, TRUMP +1%, BONK +6%, SPX +7%, FARTCOIN +7%
• Bull (+60%), Both (+30%) and CARDS (+14%) led notable movers

💰 Token, Airdrop & Protocol Tracker

• MegaETH launched a brand new terminal and incentive program, with factors earned based mostly on app utilization (MEGA +9%)
• Layer Zero pledged 10,000+ ETH to the DeFi United trigger, a a lot awaited response given the workforce’s involvement within the exploit

🚚 What is going on in NFTs?

• NFT leaders had been largely flat; Punks even at 30.9 ETH, BAYC +1% at 9.75 ETH, Pudgy +1% at 5.34 ETH; Hypurr’s -3% at 350 HYPE
• MegaETH NFTs rallied with World Laptop Netizens (+60%) and Dangerous Bunnz (+55%) main