🥛 More pain incoming? 🫤

Q: Strait of Hormuz remains closed due to Iran conflict, keeping oil above $100 and creating negative p

Strait of Hormuz remains closed due to Iran conflict, keeping oil above $100 and creating negative pressure on Bitcoin and risk assets.

Q: Polymarket shows 63% chance of U.S. ground invasion of Iran by end of April, with only 24% chance of

Polymarket shows 63% chance of U.S. ground invasion of Iran by end of April, with only 24% chance of ceasefire.

Q: Solana DEX suffered $213M exploit while Coinbase launched x402 Foundation and Midnight blockchain we

Solana DEX suffered $213M exploit while Coinbase launched x402 Foundation and Midnight blockchain went live with privacy focus.

Milk Road·Thursday, April 2, 2026·6 min read

Crypto/Web3 Finance Politics

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AI Summary

This Milk Road crypto newsletter analyzes the ongoing Iran conflict and its impact on global energy markets, with the Strait of Hormuz closure causing oil prices above $100 and negative effects on risk assets including Bitcoin. The newsletter also covers crypto news including a $213M Solana DEX exploit, Coinbase's x402 Foundation launch, and Midnight blockchain's privacy-focused launch.

Key Facts

✓Strait of Hormuz remains closed due to Iran conflict, keeping oil above $100 and creating negative pressure on Bitcoin and risk assets.

✓Polymarket shows 63% chance of U.S. ground invasion of Iran by end of April, with only 24% chance of ceasefire.

✓Solana DEX suffered $213M exploit while Coinbase launched x402 Foundation and Midnight blockchain went live with privacy focus.

Author Takes

BearishMilk Road

Iran conflict impact

Energy supply shock has put us on path towards serious global growth slowdown/recession unless Strait of Hormuz reopens

SkepticalMilk Road

Trump policy effectiveness

We're in NACHO headline world - Not Actually Changing Hormuz Opening, Trump can't provide fix for Strait issue

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