Good morning.

Markets opened green again — alts bouncing nicely.

BTC: ~$106,570

ETH: ~$2,605

Fear & Greed Index: 61 - Greed

🗞 Morning Alpha:

• US Supreme Court pushed to block the IRS from sweeping crypto user data without warrants.

→ Privacy fight just getting started.

• Hong Kong speeds up stablecoin licensing amid growing digital asset adoption.

→ More rules, more legit capital.

• Coinbase & Gemini locking in licenses to operate across the EU.

→ Big exchanges getting bigger footprints.

• $30 trillion in US Treasuries seen as BTC’s next store-of-value target, per Bitwise CEO.

→ Long-term narrative ammo.

• Tether freezes $12M USDT on the Tron network for compliance reasons.

→ Centralized stablecoin flex, again.