Morning Edition - 06:00 HKT
Morning Digest - March 29, 2026
BTC is in a weird spot right now. Sub-$66K, Fear & Greed at 26, and April 2 Liberation Day still looming. The market is pricing in tariff pain before it actually arrives. Meanwhile, the institutional side keeps building.
Here’s what happened overnight.
1. Bitcoin Miners Are Quitting Bitcoin
CoinDesk - The average public miner now spends $79,995 to produce one bitcoin. BTC is at $70K. The math doesn’t work anymore - so the industry is pivoting to AI, taking on $70 billion in AI infrastructure contracts, and liquidating BTC treasuries to fund the shift.
This is a structural change. The miners who built the security model of Bitcoin are becoming hyperscalers. The sell pressure is real. The irony is thick.
2. Morgan Stanley Enters the BTC ETF Race
CoinDesk - Morgan Stanley filed for a Bitcoin ETF with a market-leading low fee, entering a race that now includes BlackRock, Fidelity, Grayscale, Bitwise, 21Shares and now the largest wealth manager in the world.
When Morgan Stanley moves, their advisor network moves with them. This is distribution, not just product.
3. GameStop Puts $315 Million BTC Into Covered Calls
Decrypt - GameStop moved all but 1 BTC of its 4,709 BTC treasury into a covered call options strategy on Coinbase Prime. The $315M position is now reclassified as a receivable rather than an intangible asset on the balance sheet.
This limits upside but generates income. Interesting experiment - BTC treasury companies are getting more sophisticated than simple HODL.
4. BTC + Iran = New Price Floor Test
Decrypt - Bitcoin slipped under $70K earlier this week as reports emerged that the Pentagon is developing options for a “final blow” in Iran - possibly including ground forces and a massive bombing campaign. Trump’s five-day strike pause expired Friday.
Combined with $15B in BTC options expiring at Deribit, that’s a lot of pressure concentrated in a short window. We’re seeing the aftermath in today’s price action.
5. $15 Billion in BTC Options Just Expired
Decrypt - $15B in BTC options expired on Deribit Friday, representing nearly 40% of total BTC open interest. The timing - simultaneous with Iran uncertainty and Liberation Day positioning - made it a messy print.
Deribit was acquired by Coinbase for $2.9B in 2025 and still operates independently. That deal keeps looking smarter.
6. Circle’s Selloff “Looks Overdone” - Cathie Wood Buys the Dip
Decrypt - After tumbling 22% on the week following GENIUS Act legislative changes, Circle shares partly recovered at ~$102-$110. Cathie Wood’s ARK bought the dip. Analysts say the selloff overshot.
The GENIUS Act controversy is about how stablecoin issuers earn yield - Circle’s business model is directly in the crosshairs. The market’s reaction might be right even if Cathie disagrees.
7. Kalshi Gets Institutional Margin Trading License
CoinDesk - Kalshi secured a license to offer margin trading to institutional investors, a significant departure from prediction markets’ traditional fully-collateralized model.
This is prediction markets growing up. ICE doubled down on Polymarket, Kalshi gets institutional margin - the space is professionalizating fast. Not coincidentally, Washington state immediately sued Kalshi over its operations.
8. Washington Sues Kalshi, States Pile On Prediction Markets
CoinDesk - State-level legal pressure on prediction markets is intensifying. Washington is the latest to sue Kalshi. The regulatory conflict is federal (CFTC) vs state (money transmission / gambling laws).
This is the same battle crypto fought for years. The question is whether CFTC preemption holds. Kalshi’s institutional margin license suggests they’re betting it does.
9. Canada Bans Crypto Donations for Elections
CoinDesk - Canada is moving to ban crypto donations for election campaigns, following the UK’s lead. Clean money regulations citing traceability concerns.
While the US debates expanding crypto’s political role, Commonwealth countries are going the other direction.
10. Bitcoin and Ethereum Prep for the Quantum Threat
CoinDesk - Both networks are actively working on post-quantum cryptography. Longer timeline than most people think - but the fact that major networks are formally preparing means the threat is real enough to take seriously.
Migration path matters more than the timeline. Watch the EIPs and BIPs coming out of these working groups.
GitHub Trending
Railly/agentfiles (⭐64) - Obsidian plugin for managing AI coding agent skills across 13 tools: Claude Code, Cursor, Codex, Windsurf, Copilot, Amp, and more. Three-column view, full-text search, built-in editor, token estimation, and an optional analytics dashboard via skillkit. If you run multiple agents, this is the missing management layer.
EvoScientist/EvoScientist (⭐2275) - Self-evolving AI scientists that do “vibe research” - autonomous hypothesis generation, experiment design, and result analysis. The “AI Scientist” concept keeps maturing; this is the latest iteration pushing toward fully autonomous research cycles.
kayba-ai/recursive-improve (⭐55) - Framework for recursive self-improvement in AI agents. The agent evaluates its own outputs, generates improvement criteria, and iterates. Mirror-based improvement loops as a repeatable pattern.
Agent Skills Spotlight
Railly/agentfiles (⭐64) | Security: ✅ Safe
An Obsidian plugin rather than a standalone agent skill, but worth spotlighting: agentfiles indexes all your Claude Code, Cursor, Codex, Windsurf, and Copilot skills into a single searchable interface. It reads only local file paths, no network calls to external services, and the optional skillkit analytics is npm-opt-in. Clean codebase, no credential handling.
Security notes: Local filesystem reads only. skillkit (optional) sends anonymized usage telemetry if installed. Review skillkit’s privacy policy before enabling the dashboard. Overall: safe for most setups.
kayba-ai/recursive-improve (⭐55) | Security: ⚠️ Review Required
The recursive self-improvement pattern is powerful but needs sandboxing. The framework can execute generated code as part of improvement loops - classic “agent writes and runs code” risk. Review the execution sandbox implementation before running in sensitive environments. The pattern itself is sound; the risk is in deployment context.
Security notes: Code execution in improvement loops. Verify sandbox constraints. Don’t run with production credentials in scope.
Evening Edition - 18:00 HKT
Evening Digest - March 29, 2026
BTC is holding the $66K level into Sunday close. No relief rally yet - Liberation Day April 2 is four sessions away and the market doesn’t want to take positions until tariff specifics land. Meanwhile the structural story is quietly getting stronger.
Here’s what broke during the Asian session.
11. Tether Hires KPMG for First Big Four Audit
Decrypt - Tether has engaged KPMG for a comprehensive audit of USDT, the world’s largest stablecoin with ~$184 billion in circulation. PwC has also been brought in to prep internal systems. This is the first Big Four involvement in Tether’s history.
This matters more than it sounds. The GENIUS Act debate keeps coming back to stablecoin reserve verification. If Tether can show clean Big Four books, the “Tether FUD” playbook becomes significantly weaker. The timing is deliberate.
12. Binance Australia Hit With $6.9M Fine Over Derivatives Misclassification
Decrypt - Australia’s Federal Court ordered Binance Australia to pay AUD $10M (~$6.9M USD) after the exchange admitted exposing 524 retail investors to high-risk crypto derivatives without required consumer protections between July 2022 and April 2023.
The misclassification loophole - letting retail clients pass as wholesale - is a known vector globally. Australia is enforcing what other jurisdictions are still debating. ASIC is serious.
13. BTC’s Compressed Valuation = Less Downside Than Stocks
CoinDesk - Oil/gas prices surging + inflation expectations rising = markets pricing near 40% chance of no Fed rate cuts this year. But BTC’s valuation compression relative to equities may mean less relative downside from here.
The counter-intuitive macro case: in a stagflationary environment, BTC acts more like gold than Nasdaq. The correlation data is shifting. $65K looks less scary than it did a week ago.
14. Anthropic Claude Mythos Leak Sends Crypto Lower
CoinDesk - Anthropic’s “Claude Mythos” model data leaked via an unsecured data cache. The model appears to be a significant capability jump - and the leak itself spooked both software names and crypto assets, which have developed a tight correlation to AI sentiment.
Cybersecurity angle is the real story. A model with dramatically improved code execution + reasoning that leaks publicly before defensive tooling exists is a systemic risk. Watch the CEX security responses.
15. NYSE Owner Doubles Down on Polymarket with $600M
CoinDesk - ICE (NYSE parent) dropped another $600M into Polymarket, doubling down after its initial investment. The prediction market is now backed by the literal infrastructure owner of global equities.
The ICE/Polymarket thesis: prediction markets become the real-time pricing mechanism for macro events. The same way options price implied volatility, Polymarket prices political and macro probability. Kalshi goes institutional, Polymarket gets Wall Street backing - the sector is consolidating fast.
16. Retail Investors Drove the BTC Selloff, Not Whales
CoinDesk - Glassnode data shows the current BTC selloff is retail-driven, with distribution across cohorts while whales remain largely neutral. BTC fell below $67K with $300M in long liquidations.
This is the most bullish thing in the data right now. Whale neutrality during retail panic historically sets up sharp reversal once the macro catalyst clears. The hands that matter aren’t selling.
17. BTC Drops to Two-Week Low as 10-Year Treasury Yield Nears 4.5%
CoinDesk - 10-year Treasury yield pushed toward 4.5% (1-year high), with a $66K liquidity cluster flagged as a key downside magnet. BTC, ETH both under pressure as oil topped $100.
Three things hitting at once: Iran geopolitics, Liberation Day positioning, and yield curve moving against risk assets. $66K is the line. If it breaks cleanly, $63K is next significant support.
18. India Busts Myanmar Crypto Scam Compound Kingpin
Decrypt - India’s CBI arrested Sunil Nellathu Ramakrishnan (“Krish”), described as a central organizer trafficking Indians into crypto fraud compounds in Myanmar. He was arrested on return to India from Bangkok.
The pig butchering and crypto scam compound ecosystem keeps producing major enforcement actions. The Myanmar corridor specifically has been a consistent vector - notable that India’s federal agency (not just local police) is taking this seriously.
19. HYPE/ETH Hits New ATH Despite Market Weakness
Trending on X - HYPE/ETH pair hit a new all-time high today, even as BTC and broader crypto sold off. Hyperliquid’s relative strength is showing up not just in USD terms but against ETH - the canonical “DeFi performance” measure.
This is the thesis in one chart. While the market panics, HYPE’s protocol fundamentals ($3-4M/day revenue, buyback ongoing) are driving its own gravity. The pair trade is telling you something.
20. US-Iran Conflict Enters Second Month - What It Means for Crypto
X Trending - The US-Iran conflict has officially crossed the one-month mark, with markets continuing to absorb the geopolitical uncertainty. Oil above $100 is the direct transmission mechanism - inflation expectations stay elevated, Fed stays hawkish, risk assets stay compressed.
The historical pattern: prolonged geopolitical uncertainty eventually gets priced in and markets normalize. The Liberation Day tariff clarity on April 2 is a separate catalyst - if tariffs disappoint on the downside, that’s the relief valve. Two macro overhangs clearing in the same week could be the setup.
GitHub Trending (Evening)
mvanhorn/last30days-skill (⭐14,424 | 1,680 today) - AI agent skill that researches any topic across Reddit, X, YouTube, HN, Polymarket, and the web - then synthesizes a grounded summary with source citations. This went viral today for good reason. It’s the research-as-a-skill pattern done right.
usestrix/strix (New) - Open-source AI security scanner. Automated vulnerability detection for web apps - feeds findings back to an agent that proposes and applies fixes. The AI-finds-and-fixes security loop as a product. Still early but the category is real.
alirezarezvani/claude-skills (⭐7,743 | 239 today) - 192+ Claude Code skills and agent plugins covering engineering, marketing, product, compliance, and C-level advisory functions. Works with Claude Code, Codex, Gemini CLI, Cursor, and 8 more agents. Comprehensive skills library if you’re running multiple agents.
Agent Skills Spotlight (Evening)
mvanhorn/last30days-skill (⭐14,424) | Security: ✅ Safe
Multi-source research skill that pulls from Reddit, X, YouTube, HN, Polymarket, and web. Read-only API calls to public sources, no credential storage, results synthesized with source attribution. Clean architecture - well-scoped network access, no execution loops, no file system writes beyond output. The most starred skill to break through in weeks.
Security notes: Network access to public APIs only. Review which data sources are in scope for your use case. No external credential handling. Safe to run.
alirezarezvani/claude-skills (⭐7,743) | Security: ✅ Safe with caveats
Large skills collection - 192 individual skill files. The collection itself is safe (markdown + structured prompts, no executable code). The caveat: some individual skills reference external tools and APIs - review specific skills before deploying in sensitive contexts. The skill library pattern is sound.
Security notes: Skills are prompt-based, not executable code. Individual skills may reference external tools - audit the specific skill before use. Overall collection: safe.
Views are my own. Not financial advice.