Morning Minute is a day by day publication written by Tyler Warner. The evaluation and opinions expressed are his personal and don’t essentially mirror these of Decrypt. Subscribe to the Morning Minute on Substack.
GM!
At the moment’s high information:
- Crypto majors soar led by ETH and SOL; Bitcoin breaks $120,000
- Tom Lee recordsdata to boost $20B ATM for extra ETH; ETH +9% to $4,700
- ETHZilla inventory (ATNF) pops 300% after ETH buys & Peter Thiel disclosure
- OKX’s OKB token jumps 130% after saying a brand new buyback program
- Coinbase introduces stablecoin fund to deepen DeFi liquidity and assist protocols develop
💰 Tom Lee’s BitMine Goes All-In on Ethereum
It’s possible you’ll be bored with studying concerning the ETH TreasuryCo race, however I’m sorry – it’s the largest story on the town.
And the story simply entered a shocking (mega bullish) new chapter.
📌 What Occurred:
BitMine Immersion (BMNR), led by Fundstrat’s Tom Lee, has filed to spice up its at-the-market inventory providing from $4.5B to $24.5B, with the additional $20B earmarked totally for Ethereum purchases.
Sure that’s proper, $20B extra for ETH purchases!
The agency already holds ~1.15M ETH value almost $5B, about 1% of provide, and now desires to scale that to five%.
Ethereum jumped ~10% on the information, passing $4,600 and increasing its ~70% YTD rally.
🗣️ What They’re Saying:
“I can defeat all of your ETH bear arguments in a single sentence. Tom Lee simply filed to broaden his ETH buys by $20 billion.” – Ryan Adams, Bankless
“Tom Lee desires to purchase $20B value of ETH in a single 12 months. 5% of the whole ETH provide. on tempo to attain it in 2026. 12x sooner than Michael Saylor. solely one of many many ETH treasuries” – ripdoteth, on X
that is why it seems like $ETH is simply transferring up in a straight line, they’ve to make use of it as a result of they’re more likely to do all of it once more tomorrow. Any dips get ate as a result of they need to, simply a lot money to deploy
— djohnson (@DJohnson_CPA) August 13, 2025
🧠 Why It Issues:
The ETH bid is infinite proper now.
Tom Lee and Joe Lubin are doubtless going to attempt to accumulate $20B-$30B in ETH over the approaching months.
For perspective, that will be the equal of $100B-$150B for Bitcoin.
And this comes because the ETH ETFs simply set their new single-day document with $1B in internet inflows (once more, equal to ~$5B in BTC internet inflows).
That is insatiable demand, and there isn’t sufficient promote stress to sluggish this rally down within the close to time period.
ETH goes to ATHs, and really quickly.
The ready room is open – and Tom Lee is holding the door…
🌎 Macro Crypto and Memes
A couple of Crypto and Web3 headlines that caught my eye:
- Crypto majors had been very inexperienced after a combined CPI end result; BTC +2% at $120,700, ETH +9% at $4,680, XRP +4% at $3.28, SOL +15% at $201
- OKB (+130%), Fartcoin (+30%), AERO (+23%) and RAY (+20%) led high movers
- The ETH ETFs noticed $1.02B in internet inflows on Monday, a smashing new document ($178.1M for BTC)
- Coinbase introduced a brand new Stablecoin Bootstrap Fund to deepen stablecoin liquidity in DeFi and assist groups develop their protocols
- Patrick Witt is predicted to succeed Bo Hines as Trump’s crypto advisor
- eToro disclosed that crypto buying and selling accounted for 91 % of its complete income in Q2, making digital asset buying and selling the corporate’s foremost revenue supply
- Circle introduced an providing of 10M extra shares
- Jeff Bezos’ Blue Origin began accepting crypto for house flights
- Do Kwon pled responsible to fraud prices tied to his position in Terra Luna, with a max time period of 12 years in jail
In Company Treasuries
- BMNR filed a brand new ATM to boost as much as $20B (up from $4.5B) to purchase extra ETH
- ETHZilla (ATNF) popped 300% after Peter Thiel disclosed a 7.5% possession stake and sharing that they personal 82.186 ETH with $238M money readily available
- Metaplanet and Smarter Net Firm have added 518 BTC and 295 BTC respectively to their treasuries
In Memes
- Memecoin leaders are very inexperienced on the day; DOGE +12%, Shiba +9%, PEPE +10%, PENGU +9%, BONK +12%, TRUMP +8%, SPX +6%, and FARTCOIN +30%
- ORANGE was the brand new runner of the day, leaping 18x to $14M; a brand new PEPE token ran 4,000% to $8M
- nub (+44%) and fwog (+33%) had been different notable SOL meme movers; JUGS jumped 69% to $5.4M
💰 Token, Airdrop & Protocol Tracker
This is a rundown of main token, protocol and airdrop information from the day:
- OKX introduced a brand new buyback program for an OKB reserve, sending OKB up 140%
- Yeet reached its $400M milestone simply 14 days after reaching $300M
- Odin was exploited for $7M in a classy liquidity drain
- RektDrinks teased an upcoming collab with Base with the tagline “One thing is brewing”
- OpenSea introduced a brand new AI Creator Contest with $10k in prizes and XP up for grabs together with an opportunity to work with OpenSea
🤖 AI x Crypto
Part devoted to headlines within the AI sector of crypto:
- Total market cap up 8% to $13.2B, leaders had been very inexperienced
- FARTCOIN (+30%), VIRTUAL (+8%), TIBBIR (+15%), ai16z (+13%) & AIXBT (+8%)
- GAMBLE (+50%), YNE (+50%) and Realis (+42%) led high movers
🚚 What is occurring in NFTs?
Right here is the record of different notable headlines from the day in NFTs:
- ETH NFT leaders had been purple and correcting after the ETH rally; Punks -4% at 52.5 ETH, Pudgy -1% at 14.45, BAYC -3% at 13 ETH
- CryptoFish (+60%) and Azuki (+8%) had been notable high movers
- CryptoPunks hit a $250,000 ground within the ETH transfer to $4,600
- Bitcoin NFTs had been largely inexperienced and even, led by Adderrels +75%
- Summary NFTs had been largely purple, led by Noah’s Ark (+30%)
- Beeple shared that his subsequent NFT occasion shall be hosted by Danny McBride, whereas 2 ‘Politics Is Bullshit”‘ editions had been purchased for 52 ETH every
