Good Morning,

Here's a quick preview of today’s content: We break through all time highs over the weekend and crossed $120k mark for BTC, Moonpay execs get scammed, the bank of England is scared of stablecoins, Florida is taking a hard look into Robinhood Crypto, Peter Schiff keeps digging a bigger hole for himself, Tether continues to yank USDT, and so much more.

There’s tons of news this morning so grab a cup of coffee ☕️

Happy Monday - Let’s dive in.

Market Snapshot

• Bitcoin crosses 122,000 and has become the world’s 5th largest asset by market cap, only behind Gold, NVIDIA, Microsoft and Apple

  • QCP Capital flagged Trump-era tariffs and strong U.S. fiscal flows as key drivers behind the rally

  • Traders are increasingly positioning for upside, with demand rising for $130,000 Bitcoin call options

• Ethereum topped $3,000 Friday morning, for the first time since February 2025

  • The move comes after Ethereum ETFs saw their highest-ever day of inflows Thursday

  • Over $258M worth of Ethereum shorts were liquidated that day

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

• Pump.fun raises $500M in minutes in PUMP token sale (TD)

• 10 public companies that quietly turned their balance sheets into Bitcoin treasuries (BM)

• The SEC Chair who sued Ripple is now prosecuting Tornado Cash’s Roman Storm today - full details of the case here

• Creator of the infamous LIBRA token is seeking to have a New York class-action lawsuit against him dismissed (CT)

• Infamous gold bug Peter Schiff says sell Bitcoin for silver - read full statements here

• Coinbase has hired @AlexOnchain as its first “CT leader” as it looks to expand its social media team and presence (TB)

• Satoshi Nakamoto became the 11th richest person in the world on Sunday (CT)

• Elon Musk’s Grok 4 demo partners with Polymarket for prediction data (TD)

• Cathie Wood’s ARK Innovation ETF sold millions worth Coinbase and Robinhood shares on Thursday (TB)

• Fidelity frames ETH as money and Ethereum as a digital economy in new report (TD)

• SharpLink buys 10,000 ETH directly from Ethereum Foundation, lifting value of treasury to over $558M (TB)

• El Salvador’s Bitcoin stash tops $760M (DC)

• Nasdaq-listed bitcoin miner BTC Digital establishes $1M ETH reserve with plans to scale (TB)

• Coinbase sues Oregon Gov. Kotek for public records over crypto policy shift amid charges brought against the firm (TB)

• Kraken to airdrop PUMP tokens to some users whose orders failed due to 'system constraints' (TB)

• Coinbase acquires trading platform Opyn’s leadership team (BW)

• $1.14B in crypto shorts rekt as Ethereum tops $3K for the first time since February (DC)

• Tether is ending support for its USDT stablecoin on five blockchains (DC)

• Ousted Movement Labs co-founder sues startup in Delaware court (TD)

• Goblintown launches hotline to complain about its memecoin (BW)

• Czech central bank buys $18M in Coinbase stock in Q2 (TB)

Market Predictions

• Bettors on Kalshi are predicting how high Ethereum will get this year - trade your predictions on a range of events, only on Kalshi

• Sign up with code LIT and get a $20 bonus when you trade $100

Venture Capital

• Solana treasury firm Upexi to raise $200M to expand Solana treasury with most of the funds coming from VC Big Brain Holdings (TB)

M&A Announcements

• The Smarter Web company adds 275 BTC to its strategic Bitcoin treasury (BM)

Regulation

• Florida AG James Uthmeier on Thursday launched an investigation into Robinhood Crypto (YF)

• The governor of the Bank of England warned the world’s largest banks away from issuing their own stablecoins - full statements here

Cybersecurity

• MoonPay executives may have sent $250,000 to a Nigerian scammer (TB)

Extra Reads

• Friday the Southern District of New York hosted a final status conference hearing for the Tornado Cash case - Takeaways from the Final Tornado Cash Status Conference Hearing
  

• Bitcoin investing can be as straightforward or as complex as you choose - 5 Free Metrics Every Bitcoin Investor Needs

Chart of the Day

El Salvador Strategic Bitcoin Reserve absolutely rockets past $750M USD value

Meme Dump

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