Morning Minute: Crypto Crashes, New Lows In Sight
Crypto sold off sharply, and recent alt winners were hit too: ZEC, NEAR, VVV, and HYPE all dropped hard after fresh local highs. Arthur Hayes said he sold his HYPE and NEAR, arguing a macro top may be near because of rising energy prices, major AI IPOs, and a possible Trump anti-AI pivot. Bitcoin remains under pressure, with 11 straight days of ETF outflows totaling about $1.4 billion this week and price nearing the key $60k local bottom. Bitmine filed to raise $300 million via preferred stock, mirroring Strategy’s financing playbook, but with a key difference: Bitmine says its ETH staking revenue can cover dividends without selling assets. MoonPay launched a desktop app that lets Claude and OpenAI Codex interact with wallets, swaps, prediction markets, and other crypto tools. Law enforcement also warned that World Cup 2026 scams are ramping up, with fake FIFA sites and crypto token schemes already spreading.
