Morning Minute: Mark Cuban Sells His Bitcoin – Decrypt

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GM!

Right this moment’s prime information:

• Crypto majors chop whereas HYPE leads; BTC at $77k
• HYPE hits new ATH over $62 yesterday, ETF flows hit $70M
• Mark Cuban sells his BTC, cites disappointment vs gold & with broader crypto
• New quantum resolution proposed by American Fortress, may shield Satoshi cash
• MegaETH shuts down its Terminal program and ends factors season early

Mark Cuban Offered Most of His Bitcoin

Mark Cuban offered most of his Bitcoin holdings after concluding it didn’t act as a hedge in opposition to a weakening greenback and geopolitical turmoil, significantly in the course of the latest Iran battle.

The billionaire investor, who as soon as described Bitcoin as a superior model of gold and held a crypto portfolio closely weighted towards it, stated the divergence between gold and Bitcoin in the course of the Iran warfare was the breaking level. Gold surged whereas Bitcoin struggled to keep up momentum regardless of a weaker greenback, the precise situation the place the “digital gold” thesis was purported to ship.

Cuban commented: “I all the time thought it was a greater model of gold than gold, however gold simply blew up and went to $5,000, and Bitcoin dropped. Each time the greenback dropped, Bitcoin ought to’ve gone up. It’s not the hedge I anticipated it to be.”

His disappointment spans throughout crypto, which he feels nonetheless has not discovered “an utility for grandma.” That features NFTs, which whereas he shunned calling them useless, did say they’re “disappointing.”

That view is turning into a extra frequent one, as extra 5-10 12 months holders begin to capitulate in 2026. And sadly, the development appears extra prone to proceed than to reverse, not less than close to time period.

A Startup Says It Can Save Satoshi’s 1.1 Million Bitcoin From Quantum Attackers

Researchers at AmericanFortress revealed a proposal claiming their multi-layer quantum protection system can shield Satoshi Nakamoto’s 1.1 million dormant Bitcoin (and all of the others) from future quantum assaults through a comfortable fork that may freeze and shield uncovered addresses.

The issue they’re fixing is the “Satoshi downside” that has haunted each quantum protection proposal to date. Bitcoin’s roughly 6.9 million cash in addresses with uncovered public keys are straight weak to any quantum pc highly effective sufficient to run Shor’s algorithm in opposition to secp256k1 elliptic curve cryptography. BIP-361, authored by Jameson Lopp, proposed freezing these cash in the event that they don’t migrate to quantum, however Cardano founder Charles Hoskinson identified a deadly flaw: “1.7 million cash can’t try this. It’s not doable. 1.1 million of which belong to Satoshi.” If Satoshi is useless or the keys are misplaced, there’s no method to migrate voluntarily.

AmericanFortress’s strategy is totally different. Reasonably than requiring migration or imposing a freeze, their proposal makes use of a comfortable fork to create a protected dormancy state, primarily placing a quantum-resistant cryptographic lock round weak addresses with out requiring the proprietor to maneuver the cash or show management. The system layers a number of post-quantum signature schemes to forestall any quantum attacker from exploiting uncovered public keys.

The proposal is in early-stage peer overview and has not been submitted as a proper BIP. The parallel PACTs proposal from Paradigm researcher Dan Robinson gives one other path, letting holders timestamp cryptographic proofs of possession at this time and later unlock cash through quantum-resistant STARK proofs if the community freezes weak addresses.

🌎 Macro Crypto and Markets

• Crypto majors are flat whereas HYPE leads once more; BTC even at $77k; ETH +1% at $2,130; SOL +2% at $88; HYPE +5% at $61
• NEAR (+32%), FET (+13%), TIA (+13%) and WLD (+13%) led prime movers
• Oil -2% at $98.50; Gold even at $4,513
• Inventory futures are inexperienced with the Nasdaq up barely because the US and Iran sign some peace progress
• Blockchain.com confidentially filed an S-1 with the SEC Thursday for a US IPO anticipated earlier than year-end, becoming a member of SpaceX, Kraken, and Grayscale within the 2026 crypto itemizing wave; it beforehand thought of going public at a $14B valuation in 2022 earlier than a 2023 Sequence E spherical reset that determine considerably decrease
• a16z-backed Syndicate Labs introduced it’s shutting down Thursday after 5 years constructing Ethereum rollup developer infrastructure, citing a structural collapse in demand for reusable rollup tooling
• Terraform Labs’ chapter administrator filed an amended grievance Monday alleging Jane Road used a non-public Telegram group referred to as “Bryce’s Secret” (run by a former Terraform intern who later joined Jane Road) to obtain private details about the well being of TerraUSD earlier than promoting its total $192 million UST place on Could 7, 2022, hours earlier than the stablecoin misplaced its peg

Company Treasuries & ETFs

Meme Coin Tracker

• Meme leaders have been largely inexperienced; DOGE +2%, SHIB +2%, PEPE +2%, PENGU +5%, TRUMP +5%, BONK +4%, SPX +4%, FARTCOIN +5%
• Worldcup (+60%), Manifest (+30%) and Clude (+30%) led notable movers on Solana
• Base movers included Supergemma (+33x), grantr (+160%), Pitch (+67%) and Robotmoney (+50%)

📈 Myriad Market of the Day

💰 Token, Airdrop & Protocol Tracker

• MegaETH introduced the wind down of its terminal program and conclude its factors season early
• Polymarket had a non-public key exploited for $700k earlier this morning, with the scenario growing

🚚 What is going on in NFTs?

• NFT leaders have been largely crimson; Punks -1.5% at 33.5 ETH, BAYC -2% at 9.54 ETH, Pudgy -2% at 4.8 ETH; Hypurr’s -7% at 315 HYPE
• Slonkz (+16%) and Milady (+6%) led notable movers