Good Morning,

Here's a quick preview of today’s content: Ohio man sentenced for running $10M crypto Ponzi, Minnesotan banks and credit unions provide crypto custody, Crypto ATM Bitcoin Depot goes bankrupt, Goldman Sachs exits XRP and Solana exposure, White House says Bitcoin reserve announcement is imminent, and so much more

Happy Tuesday - Let’s dive in.

Market Snapshot

Click here to learn more about the Gannon’s portfolios and subscribe to the strategies on Autopilot.* Since inception (7/3/25), Gannon’s Crypto Portfolio is up +16.11% Gannon’s AI Fund is up +50.7%

• Bitcoin slides below $77,000 at two-week low as crypto liquidations top $800M

  • BTC and ETH ETFs bleed as crypto funds shed $1.07B, ending 6-week win streak

  • HYPE rallies +7% as Hyperliquid stands out amid market weakness

  • Circle's USYC becomes largest T-Bill fund on BNB Chain at $2.9B

• Bitcoin gives up all of May's gains as oil shock and surging Treasury yields rattle assets

Prediction Markets

• Bettors on Polymarket are predicting Ethereum price in May?

• Track and trade live odds on any event, only on Polymarket

Headline Roundup
^{_{The major headlines driving crypto markets}}

• Elon Musk loses $150B AI lawsuit against Sam Altman (DC)

• Iran pushes $10B bitcoin insurance for Strait of Hormuz (DC)

• Crypto ATM Bitcoin Depot goes bankrupt (BBG)

• SEC proposes tokenized stock framework (CD)

• White House says Bitcoin reserve announcement is imminent (BM)

• Michael Saylor's Strategy buys another 24,869 BTC (TB)

• Swan Bitcoin hit with nearly $1B lawsuit (DC)

• Tom Lee's BitMine adds $151M in Ether (DC)

• Leopold Aschenbrenner bets big on crypto miners (CD)

• Goldman Sachs exits XRP and Solana exposure (CT)

• Vitalik Buterin says AI could secure crypto networks (DC)

• Ostium's perpetuals exchange powered by Nasdaq (TB)

• French treasury Capital B buys $15M in bitcoin (TB)

• Standard Chartered projects $4T tokenized assets by 2028 (TB)

• HIVE buys $58M Toronto plot for AI facility (CD)

• Grayscale and VanEck amend BNB ETF filings (CT)

• Kraken parent Payward's Q1 revenue climbs (CD)

• Polymarket users spur insider trading suspicions (DC)

• South Korea's KB Financial completes stablecoin pilot (CT)

• Tempo taps $7.5B DeFi lender Morpho (CD)

• Bitwise adds HYPE to balance sheet (TB)

• Two Ethereum Foundation researchers resign (TB)

Venture Capital

• Elliptic, a crypto firm, raises $120M led by One Peak with participation from Nasdaq Ventures, Deutsche Bank, and the British Business Bank (FS)

• AEON, a settlement layer, raises $8M led by YZI Labs (TB)

• Tether invests in fintech LemFi for an undisclosed amount (TB)

Access the complete VC deal flow on Fundable.

M&A Announcements

• Standard Chartered acquires remainder of subsidiary Zodia Custody (CD)

Launches

• Revolut unveils first physical crypto card (TB)

• Trade.xyz launches pre-IPO perpetual market (TD)

Regulation

• Minnesotan banks and credit unions provide crypto custody (CD)

• Bank of England sets out vision for tokenization (DC)

• Galaxy scores New York license to offer crypto (TB)

• Zerohash secures license for services in Europe (TB)

• South Korea reviews Hana Bank’s Dunamu stake (CT)

Cybersecurity

• Ohio man sentenced for running $10M crypto Ponzi (TB)

• Exploit drains $11.6M from Verus-Ethereum bridge (TB)

Extra Reads

• Tokenization has transformed from a whitepaper concept to a multi-billion dollar reality, with BlackRock, Goldman Sachs, and JPMorgan all bringing traditional assets onchain - Here's what real-world assets are and why they matter

• Memecoins put Solana on the map, but BlackRock, Visa, and Franklin Templeton may be the ones that keep it there - Here's how Solana is shedding its memecoin reputation

Chart of the Day

Public companies added 369K BTC in the past year

Meme Dump

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*DISCLAIMER: Investment advice provided by Autopilot advisers LLC, an SEC registered investment advisor. Past performance does not guarantee future results. Investing carries risks including the risk of the loss of principal. Performance doesn’t include fees. See more here.