Market Overview
🔸Trump's primetime address shocked #markets: vowed to hit Iran "extremely hard" over the next 2-3 weeks and threatened Iran's electrical grid. S&P futures down 1.2% overnight, Euro Stoxx fell 3%.
🔸Brent crude surged 7.6% to $108.81/barrel after the speech, now up 50%+ in one month. Strait of Hormuz remains closed.
🔸Foreign central banks dumped $82-90B in US Treasuries over 5 weeks to the lowest level since 2012. Turkey alone offloaded $22B. Gold now makes up 24% of global reserves, surpassing Treasuries (21%) for the first time since the mid-1990s.
🔸ISM Manufacturing PMI hit 52.7 (3-year high) but the Prices Index exploded to 78.3, a 4-year high. Up 19.3 points in two months with 17 of 18 industries reporting higher costs.
🔸Buffett called the selloff "nothing": stocks only 5-6% off peaks. Berkshire sits on $373B in cash, net seller for 12 straight quarters.
🔸Gold hit $4,758/oz (+2.4%), near all-time highs. Up 47% year-over-year.
🔸Anthropic accidentally leaked internal Claude source code (human error). Separately, a federal judge called the Trump/Pentagon ban on Claude "Orwellian" and blocked enforcement.
Crypto Updates
🔸BTC at ~$66,200 this morning, down 2% after Trump's Iran escalation reversed yesterday's rally above $68,500.
🔸Drift Protocol on #Solana exploited for ~$285M, the largest DeFi hack of 2026. Attacker used a compromised admin key and fake oracle to drain 20 vaults in 12 minutes. DRIFT crashed 40%+, SOL fell 4-5%. ZachXBT criticized Circle for not freezing USDC as the exploiter bridged to Ethereum.
🔸BTC
#etf s logged $173.7M in net outflows on April 1 (IBIT lost $86.5M, FBTC lost $78.6M). CoinShares reported $414M in total outflows for the week through March 30.
🔸Metaplanet acquired 5,075 BTC, jumping to the third-largest corporate Bitcoin treasury behind Strategy and Tesla.
🔸Tokenized stock transfers hit $2.87B in March, up 80%+ over the past 30 days and marking a new all-time high. Ondo's tokenized stock volume alone surpassed $2B, and total tokenized stock holders exceeded 200,000.
🔸Binance Wallet launched a prediction market in beta via Predict. Fun on
$BNB Chain. USDT-denominated yes/no contracts on sports, elections, economics, and
$BTC outcomes.
🔸CLARITY Act Senate markup pushed to late April as Congress left for Easter recess. Coinbase told Senate staff they cannot accept the draft banning passive yield on stablecoin balances.
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$SUI unlocked 42.94M tokens (~$37M) on April 1. Big unlock week ahead: Hyperliquid's ~9.92M HYPE (~$375M) unlocks April 6.
Stay sharp out there