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Browse historical Scribe issues, daily market notes, and editorial briefings.
Treasury’s GENIUS Act Rule Meets Wall Street’s Crypto Buildout
Treasury has moved stablecoin policy out of congressional prose and into implementation, starting with a rule that will determine which smaller issuers can remain under state oversight. At the same time, firms like EDX and Franklin Templeton are putting money behind the custody, settlement, and distribution businesses that assume crypto will keep being absorbed into familiar financial structures.
Published
Apr 2, 2026
9 min read
Author: Max Partee
The Drift Hack Turned a Compromised Admin Multisig Into a $270 Million Vault Drain
Drift Protocol’s April 1 loss now looks less like a generic smart-contract exploit than a privileged-control failure: a compromised Squads admin multisig appears to have been used to list a fake CVT spot market, lift withdrawal limits, and let a manipulated oracle mark turn worthless inventory into borrow power. For traders, the lesson is unchanged: pooled-vault exchanges are only as safe as the keys that can redefine solvency.
Published
Apr 1, 2026
9 min read
Author: Cube Security Team
Hong Kong’s Empty Stablecoin Register and New Hampshire’s Ba2 Bitcoin Bond
Hong Kong’s missed first window for HKD stablecoin licenses is a useful reminder that “regulated crypto access” still runs on incumbents, approvals, and slipping timelines. At the same time, bitcoin is being pushed further into bond structures even as spot moves closer to historic value zones without the usual washout, and miners like Bitfarms are still selling to fund the next business model.
Published
Apr 1, 2026
11 min read
Author: Max Partee
Stolen axios publish access turned npm install into a RAT dropper
A stolen axios maintainer credential pushed malicious versions `1.14.1` and `0.30.4` to npm, turning routine installs into install-time code execution. For crypto operators, this is less a dependency-hygiene story than a host-compromise problem: treat affected machines as potentially breached, rotate secrets, and work back from the install window.
Published
Mar 31, 2026
10 min read
Author: Cube Security Team
Square’s Bitcoin Payments Land as Labor Opens the 401(k) Door
The notable move today is not a new burst of crypto enthusiasm but where access is being installed. The Labor Department is pushing digital assets toward retirement-plan menus, Square is expanding bitcoin acceptance by shielding merchants from bitcoin exposure, and the market still has to show weakening holder conviction can absorb all this new packaging.
Published
Mar 31, 2026
11 min read
Author: Max Partee
Strategy Falls Silent as Stablecoin Yield Gets Ring-Fenced
Bitcoin is still near the middle of its range, but the support under it looks less automatic: fear is extreme, longs are crowded, and Strategy may have paused its buying streak. At the same time, the stablecoin fight is shifting from headline politics to a more practical sorting exercise over who gets to keep Treasury-linked economics - while Southeast Asia’s card rails show where demand can still scale when yield is squeezed out.
Published
Mar 30, 2026
9 min read
Author: Max Partee
Kalshi Adds the Plumbing as States Move to Shut It Down
Kalshi spent the day looking more like a futures venue and more like a legal target. Add Morgan Stanley’s 14-basis-point bitcoin ETF filing, World’s discounted WLD treasury sale, and fresh Bitmain scrutiny, and the pattern is a market getting easier for institutions to use just as its political and legal footing grows less settled.
Published
Mar 29, 2026
10 min read
Author: Max Partee
Morgan Stanley’s 14-Basis-Point Bitcoin ETF Lands as Bitcoin’s Bid Thins Out
Morgan Stanley’s low-fee ETF filing makes bitcoin access look increasingly routine inside wealth channels, but the market underneath is less reassuring: ETF outflows rose, liquidations hit, miners are selling to fund an AI pivot, and the stablecoin bill is now stuck on who gets to pass through rewards.
Published
Mar 28, 2026
10 min read
Author: Max Partee
USDC Rules, Bitcoin Exposure, and Wall Street’s Controlled Crypto Buildout
USDC’s repricing now looks less like a ban on stablecoin rewards than a fight over distribution. Bitcoin is still holding its range, but the demand underneath looks more conditional, while GameStop’s treasury trade shows how bitcoin ownership can turn into counterparty exposure. Across all three, Wall Street’s preferred form of tokenization is coming into focus: useful enough to connect markets, controlled enough to keep the key economics inside regulated hands.
Published
Mar 27, 2026
12 min read
Author: Max Partee