Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt.

GM!

Today’s top news:

• Crypto majors up 1-5%, SOL leads; BTC at $79.2k
• BTC ETFs see another $337M in inflows; $116M for ETH
• Coinbase announced tokenized stocks live on Base
• Hyperliquid’s HyperEVM hits new ATH in revenue
• FWAIR PFP drop leads to massive gas spike on ETH and 16,000+ spins

Coinbase Puts Tokenized Stocks on Base

Coinbase-issued tokenized stocks went live on Base on Monday, starting with fractional shares of Apple and Nvidia. Every eligible user outside the United States can now hold a claim on real equity in a self-custody wallet, trade it on Aerodrome, or post it as collateral on Aave. AERO climbed more than 13% on the day, showing how a new real-world asset rail can immediately spill into onchain liquidity venues.

Each token corresponds to a share held by Alpaca, a regulated broker and custodian, and the holder has a direct claim on that share rather than exposure to a derivative tracking its price. Coinbase built the product on a token standard called B20, which handles dividends and stock splits without changing token balances, so an open lending position or liquidity pool does not break when Apple pays out.

why are tokenized stocks on @base a big deal? pic.twitter.com/2jHJwDagyo — jesse.base.eth (@jessepollak) August 24, 2026

why are tokenized stocks on @base a big deal? pic.twitter.com/2jHJwDagyo

— jesse.base.eth (@jessepollak) August 24, 2026

This is the second time in a week a U.S. company has shipped a product that Americans cannot touch. Coinbase added perpetual futures to its Base App through Hyperliquid on Wednesday, excluding users in the U.S., U.K. and Canada. Robinhood launched its own layer-2 chain last month with tokenized stocks among the first offerings, available in more than 120 countries, but not at home.

That overlap is part of the broader backdrop here: exchanges and fintech platforms are racing to package traditional assets into blockchain-native products while local rules still lag the rollout. Vlad Tenev spent last week publicly pressing U.S. policymakers to fix the rules, writing that it would be a strange outcome if the rest of the world built the future of ownership around American assets while Americans watched. The SEC has a tokenized-stock exemption sitting delayed, and its new Regulation Crypto Assets proposal covers token fundraising rather than equity tokenization.

Coinbase is not slowing down while waiting for regulation. Base says more Coinbase-issued stocks and other real-world assets will arrive in the coming weeks. The infrastructure is finished and shipping. The rules are not.

Macro Crypto and Markets

Crypto majors are slightly green with SOL leading; BTC +2% at $79.1k; ETH even at $2,480; SOL +5% at $99; HYPE +3% at $80.

Top alt movers include STX (+8%), INJ (+8%), SPX (+3%) and JUP (+4%).

Oil -2% at $82.60; gold even at $4,690.

Stock futures are green; DOW +0.4%, Nasdaq +0.8%.

Stand With Crypto endorsed 32 House incumbents for the midterms, a bipartisan slate including Tom Emmer, Glenn Thompson, Bryan Steil, and Democrats Jim Costa and Ritchie Torres.

Strategy raised $2.01 billion selling MSTR shares last week and created USD Cash, a $1.59 billion pool it said may be spent on Bitcoin, with holdings unchanged at 840,447 BTC.

Strive bought 1,110 Bitcoin for $81.5 million at an average of $73,409, lifting holdings 5.5% to 21,356 BTC.

Tom Lee’s Bitmine added 32,447 ETH worth about $81 million, reaching 5,847,611 tokens and leaving it roughly 187,000 ETH short of its 5% supply target.

OFAC designated Iran's crypto sector as sanctionable alongside gold, technology, aviation, and shipping, allowing Treasury to target anyone determined to operate in those sectors regardless of location.

Cosmos Labs advised validators on Cosmos EVM chains to halt their networks as it works through an ongoing security incident affecting users.

Corporate Treasuries \u0026 ETFs

The Bitcoin ETFs saw $337M in net inflows on Monday; the ETH ETFs saw $116M in inflows.

STRC closed over $97 on Monday, its highest close since June 1.

Meme Coin Tracker

Meme leaders were mixed; DOGE -1%, SHIB +1%, PEPE even, PENGU +3%, TRUMP -1%, BONK even.

Robinhood chain saw major gains again; Cashcat +40% to $200M, PONS +32%, AI +25% and Juggernaut +50%; DTF debuted at $8M.

Solana leaders included Cate (+70%), Jimothy (+80%), Tiny (+12x) and CMNS (+12x); Ansem even at $255M.

Token, Airdrop \u0026 Protocol Tracker

Hyperliquid’s HyperEVM hit a new ATH in daily revenue with over $500k on Aug. 23.

Kinetiq unveiled Elysium as a Hyperliquid L2 using HYPE as its gas token, with half of sequencer fees funding open-market KNTQ buybacks and burns.

Pumpfun posted $12.48 million in weekly protocol fees for Aug. 17 to 23, up 16% week over week and its second straight best week since late January, burning $6.13 million in PUMP and pushing cumulative burns past 16% of total supply.

Quotrons launched tokenized equity pools on Ink, running eight markets including NVDA, AAPL, TSLA and SPY as Uniswap v4 pools quoted in USDG, with a hook routing half of every 0.30% fee to Quotron terminal holders.

What is happening in NFTs?

NFT leaders were mostly flat; Punks +1% at 32.4 ETH, BAYC -1% at 8.2 ETH, Pudgy -1% at 4.25 ETH; Stonkbrokers even at 5.4 ETH.

Quotrons (+190%), Cash Cats (+57%) and KYC (+45%) led top movers.

FWAIR PFPs dropped on FWA, leading to a massive surge in spinning and the NFTs debuted at a 3.25 ETH floor (FWA at $30M).