Morning Minute: Paul Tudor Jones calls Bitcoin the strongest inflation hedge

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Today’s most important news:

• Major cryptocurrencies rebound 1-2% ahead of FOMC meeting; Bitcoin at $77.5 thousand
• Paul Tudor Jones describes Bitcoin as the strongest inflation hedge, better than gold
• Pump Fun burns $370 million in coins, announces new software buyback
• Robinhood’s HOOD stock fell 10% due to missing earnings, leading to a decline in cryptocurrency revenue
• Polymarket is in active discussions with the Commodity Futures Trading Commission (CFTC) to lift the ban on users in the US.

🟠 Paul Tudor Jones describes Bitcoin as the most powerful inflation hedge

In an interview Tuesday on the Invest Like the Best podcast, Paul Tudor Jones described Bitcoin as the strongest available hedge against inflationAnd it is explicitly rated above gold.

His logic is clear and straightforward: the supply of gold grows every year; Bitcoin does not. He said that during periods of strong monetary and fiscal stimulus, Bitcoin is a prominent inflation trader, citing the 2020 rise as the clearest historical example. “Bitcoin is undoubtedly the best inflation hedge – more so than gold,” he said.

His comments on stocks were a bit different. He said current valuations for the S&P 500 remind him of the dot-com bubble of 2000. The stock market’s market capitalization relative to GDP is approaching historical extremes. He warned that it would be “really hard to make money” in stocks over the next decade, and added that a major market correction would worsen the federal deficit by collapsing capital gains tax revenues and destabilizing the bond market.

📉 Robinhood’s HOOD Shares Decline as Cryptocurrency Revenue Declines

Robinhood First quarter 2026 results announced on TuesdayMissing estimates of revenue and income. Total revenue was $1.07 billion versus consensus of $1.14 billion. Net income of $346 million ($0.38 per share) was 1 cent below expectations. Shares fell 6% after hours and were down 10% premarket.

The reason behind this loss is straightforward: Cryptocurrency transaction revenue fell 34% quarter-on-quarter to $134 million, and 47% year-over-year, tracking Bitcoin’s 22% price decline over the same period.

The loss was notable because the rest of the business went under. Prediction markets, futures and index options all posted record volumes in the first quarter. Stocks and options grew by double digits. Unfortunately, HOOD’s revenue remains closely tied to Bitcoin’s price movement, and the stock has tracked BlackRock’s IBIT more closely than the S&P 500 for most of 2026. The second-quarter rebound in cryptocurrency prices, if it continues, should be evident in the next edition

🔥 Pump.fun burns $370 million in tokens, promises new buybacks

Pump.fun was implemented a Token restructuring on Tuesdayburning approximately $370 million worth of PUMP tokens (about 36% of the circulating supply). The burn covers all tokens accumulated over nine months of revenue buybacks at 100%.

Meanwhile, Pump announced a new buy and burn program for PUMP tokens using 50% of the revenue. They will use an irrevocable smart contract that guarantees 50% of the total net revenue from Bonding Curve, PumpSwap and Terminal in automatic buys and burns on the next year’s open market. The remaining 50% will be used to finance operations and growth.

After miniaturizing, Pump.fun became a huge success. In the past few years, the pump has:

• It raised $500 million in 12 minutes by selling the PUMP token
• Over $1 billion in lifetime platform revenue
• It generated hundreds of billions in trading volume.

But despite allocating 100% of revenue to buybacks, the team said a trust deficit has developed around what those buyback tokens will ultimately be used for. The hope is that this new burn will eliminate this uncertainty permanently (or at least for next year).

🤖 The CFTC uses AI to review cryptocurrency applications

CFTC Chairman Mike Selig told CoinDesk that the agency is Building AI tools to review cryptocurrency registration applications and monitor trading marketsin direct response to the loss of more than 20% of its workforce under Trump’s federal employee cuts.

The current process is entirely manual where submitted documents are reviewed by staff. The new system will flag applications as incomplete, speed up the feedback process, and reject substantively incomplete applications. Existing employees are being trained on Microsoft Copilot while internal swap data and market monitoring tools are being developed.

Selig identified the joint digital asset classification guidance between the CFTC and SEC as the most significant action in the cryptocurrency space during his tenure, putting prediction market participants “on notice” about the agency’s enforcement stance. Notably, the SEC has nearly six times the staff of the CFTC, while the CFTC’s mandate is rapidly expanding to include cryptocurrencies, prediction markets, and financial derivatives. The hope is that artificial intelligence can help make up for this gap in resources…

🇺🇸 Polymarket is trying to return to the United States

Polymarket is in active discussions with the Commodity Futures Trading Commission (CFTC) to lift a ban on US traders from its main international exchange, Bloomberg reported on Tuesday.

The restriction has been in place since a 2022 settlement in which Polymarket paid a $1.4 million fine and agreed to exit the US market after operating an unregistered event holding facility. The US-only standalone Polymarket platform received CFTC approval in November after the company acquired a registered exchange, but that platform has not yet been fully launched.

A CFTC vote is required to remove the ban. With four seats currently open on the commission, Chairman Selig is the sole commissioner, which could simplify the approval process. If it is cleared, Polymarket’s flagship exchange will compete directly with Kalshi on US soil For the first time.

🌎 Total crypto and markets

• Major cryptocurrencies rebound 1-2% ahead of today’s FOMC meeting; Bitcoin +2% at $77.5K; ETH +3% at $2,330; SOL +2% at $85; Noise +1% at $40.30
• Doji (+12%), PEPE (+8%) and FIL (+7%) led the top movers
• oil +4% at $103; Gold -1% at $4,570
• Stock futures It is a little green ahead of the FOMC meeting and despite the rise in oil prices
• Commodity Futures Trading Commission Wisconsin sued TuesdayThis makes it the fifth state the agency has taken to federal court in less than a month over prospective market jurisdiction
• pregnancy It announced on Tuesday that it is building a new class of modular, high-density Bitcoin mining systems In partnership with Canaan and ACME Swisstech
• Local host research The new Post Quantum Cryptography Group announced on Tuesday, Partnering with Stanford cryptographers Benedikt Pons and Dan Bonnet To fund dedicated research into Bitcoin’s post-quantum signature schemes
• Canada Announced plans Ban encrypted ATMs to protect its citizens from fraud

Corporate Treasuries and ETFs

Meme Coin Tracker

• Meme leaders He was very green; DOGE +12%, SHIB +6%, PEPE +8%, PENGU +1%, TRUMP +1%, BONK +6%, SPX +7%, FARTCOIN +7%
• Taurus (+60%), CARDS (+30%) and CARDS (+14%) led the notable movers

💰 Token tracking, airdrop and protocol

• Megayth Launched a new station and an incentive program, with points earned based on app use (MEGA +9%)
• Class zero Pledge 10,000+ ETH to the DeFi United case, a reaction that is long overdue given the team’s involvement in this exploit

🚚 What happens in NFTs?

• NFT leaders It was mostly flat. Punk Up at 30.9 ETH, BAYC +1% at 9.75 ETH, Pudgy +1% at 5.34 ETH; Hypurr’s -3% at 350 HYPE
• MegaETH NFTs have rallied with global computer internet users (+60%) and Bad Bones (+55%) are in the lead