Authored by Tyler Warner, Morning Minute offers daily insights with analysis and opinions that reflect his views exclusively and not necessarily those of Decrypt. For more coverage, check out our new daily news show available on Apple Podcasts or Spotify.
👋 Jerome Powell’s Likely Final FOMC Appearance
Jerome Powell’s anticipated last press conference as Federal Reserve Chair took place Wednesday following the FOMC’s 8-4 vote to maintain interest rates at 3.50-3.75%. The four dissents signaled incoming Chair Kevin Warsh that he may not have unanimous support.
A key development from the meeting was Powell’s announcement of his continued presence on the Fed’s Board of Governors post-May 15, a decision described as “to be determined,” due to ongoing Trump administration investigations into the Fed. He noted the necessity of court interventions so far and acknowledged these issues remain unresolved.
Discussing economic outlooks, Powell highlighted the challenging scenario caused by four successive supply shocks (pandemic, Ukraine conflict, tariffs, and Iran war), each with potential inflationary and unemployment impacts. The likelihood of a rate cut in 2026 plummeted to 1% from approximately 25% the previous week after his remarks.
💰 Big Tech Earnings Exceed Expectations
Post-market close on Wednesday, Amazon, Alphabet, Microsoft, and Meta unveiled their Q1 2026 earnings. AI investments are proving worthwhile, cloud sector growth is accelerating, and debates over ROI in big tech are shifting positively.
Meta was an outlier; its stock dipped 6-7% post-earnings despite surpassing revenue expectations, as it increased its already substantial 2026 capex guidance by another $10 billion. Missed user growth targets were attributed to “internet disruptions in Iran.”
Alphabet (Google) shone brightly with Google Cloud reporting a 63% year-over-year increase to $20.1 billion, marking its swiftest expansion since 2022. CEO Sundar Pichai noted that enterprise AI solutions spearheaded cloud growth for the first time in Q1.
💸 Meta Revives Crypto Payments for Creators
Meta has quietly initiated USD Coin payments on Solana and Polygon to select creators, re-entering the crypto payment space four years after discontinuing its Libra project due to regulatory pressures.
The program is currently available only to creators in Colombia and the Philippines, who can connect MetaMask, Phantom, or Binance wallets for Facebook payouts via Circle’s USDC. Stripe manages backend infrastructure and crypto-specific tax reporting.
Meta clarifies it’s not issuing its own stablecoin; instead, it leverages USDC without offering an off-ramp, requiring creators to convert to local currency through third-party exchanges.
📈 Sky Protocol (Formerly MakerDAO) Reports Record Quarter
Sky Protocol announced unprecedented Q1 2026 financial outcomes Tuesday. The $13 billion protocol amassed nearly $124 million in gross revenue and almost $61 million in net revenue, the highest since its inception in 2017.
The growing demand for on-chain yield products has benefited Sky’s real-world asset collateral model, which accrues revenue through loan stability fees, liquidation fees, and peg stability module fees.
Despite positive results, the SKY governance token dipped approximately 2.4%, reminding investors that revenue records don’t always equate to increased token value unless dictated by specific tokenomics like buybacks.
🥩 Steak ‘n Shake’s Bitcoin Initiative Proves Successful
The 91-year-old burger chain began accepting Bitcoin payments in all U.S. locations since May 2025, resulting in a significant surge in same-store sales.
Transaction fees halved compared to credit cards via the Lightning Network, and the company directed customer-paid Bitcoin into a Strategic Bitcoin Reserve instead of converting it to cash. The reserve saw a $10 million increase in January, another before the Bitcoin 2026 conference in April, and recently introduced a Bitcoin-themed milkshake.
In March, hourly employees received a 21-cent-per-hour Bitcoin bonus from the reserve. COO Dan Edwards outlines this strategy as a self-sustaining cycle: increased sales from Bitcoin transactions fund store upgrades and employee bonuses, which in turn attract more customers. With its treasury growing to 210 BTC and rising sales figures, Steak ‘n Shake has emerged as one of Bitcoin’s most notable consumer success stories.