$200M Bitcoin Ponzi

Bitcoin trading firm CEO sentenced to 20 years over $200M ponzi scheme

Good Morning,

Here's a quick preview of today’s content: Binance France CEO targeted in home invasion attempt, Dutch House of Representatives advances 36% tax law, Polymarket launches 5-minute crypto markets, Kevin O'Leary wins $2.8M defamation against crypto influencer BitBoy, Harvard cuts Bitcoin ETF stake for Ether exposure, and so much more

Happy Tuesday - Let’s dive in.

Market Snapshot

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  • Bitcoin bounces to $70,000 on cooling inflation after $8.7B wipeout, but charts remain bearish

    • BTC ETFs bleed $410M as global crypto ETP outflows extend to fourth week with $3.7B exits in past month

    • BTC on pace for longest losing streak since 2018 bear market as total market value slips -2%

    • ETH open interest falls to 3-year low after $540M sell wave, though steadies to outperform wider crypto market

  • Wall Street remains bullish on Bitcoin while offshore traders retreat as Fear & Greed Index hits record lows

Prediction Markets

  • Bettors on Polymarket are predicting top performing crypto in February?

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

Headline Roundup
The major headlines driving crypto markets

  • Senators demand review of UAE's $500M stake in World Liberty Financial (TB)

  • Elon Musk accuses Anthropic AI of being 'misanthropic' (DC)

  • Polymarket launches 5-minute crypto markets (TD)

  • Kevin O'Leary wins $2.8M defamation against crypto influencer BitBoy (TB)

  • Bitcoin trading firm CEO sentenced to 20 years over $200M ponzi scheme (TB)

  • Meme coin investor sues Steve Bannon and Trump advisor in class action lawsuit (TB)

  • CZ rejects claims Binance fired investigators after Iran probe findings (TB)

  • Binance France CEO targeted in home invasion attempt (DC)

  • OpenAI hires OpenClaw founder (DC)

  • X launches cashtags for in-timeline crypto trading (TB)

  • Trump Media files to launch Truth Social ETFs (DC)

  • Strategy says it can survive even if bitcoin drops to $8K (CD)

  • Harvard cuts Bitcoin ETF stake for Ether exposure (DC)

  • Trump family American Bitcoin holdings pass 6,000 BTC (BM)

  • Cathie Wood buys $18M of crypto stocks (TB)

  • Metaplanet posts $619M net loss on bitcoin valuation (TB)

  • Wallet tied to $200M hack moves after two years of dormancy (TB)

  • Figure starts marketing blockchain-native shares (BBG)

  • Kalshi taps sports insurance market with new deal (DC)

  • Russia's daily crypto turnover is over $650M (CD)

  • Apollo deepens crypto push with Morpho token deal (CD)

  • FedEx enters Hedera Network for supply chain transformation (DC)

  • Tomasz Stanczak steps down as Ethereum Foundation director (TB)

  • Crypto trading terminal Nexa shuts down (TD)

Venture Capital

  • Crypto company Huaying Oriental secures strategic financing agreement up to $100M from Streeterville Capital (BG)

  • Blockchain network Rizz Network lands $5M capital commitment from Nimbus Capital (CD)

  • Mova Protocol, a mobility data and tokenization startup, raises $3M seed round from undisclosed investors (SI)

  • Stablecoin giant Tether invests in the parent company behind Dreamcash, a mobile interface for Hyperliquid (TB)

Access the complete VC deal flow on Fundable.

M&A Announcements

  • South Korean financial giant Mirae Asset buys 92% stake in Korbit crypto exchange (TB)

Launches

  • Grayscale files to convert AAVE token trust into ETF (TB)

  • Wintermute launches tokenized gold trading (TB)

  • Solana Company rolls out borrowing against staked SOL (TB)

  • Lighter enables collateral for spot and futures trading (TD)

  • Nexo re-enters US market three years after exiting (DC)

  • Prediction market Stand launches counter-trading tool (TD)

  • deBridge enables AI agents to execute transactions (TB)

Regulation

  • Dutch House of Representatives advances 36% tax law (CT)

  • EU bans all crypto transactions with Russian entities (DC)

  • CFTC appoints crypto heavyweights to advisory panel (TB)

  • Brazil proposes national Bitcoin reserve (BM)

  • Prime Minister seeks power to regulate AI chatbots (DC)

  • Hong Kong regulator approves first crypto company license (CD)

  • OKX snags European license for crypto card expansion (CD)

Cybersecurity

  • Connecticut man faces 375 years for gambling crypto investors' funds (DC)

  • Blockchain lender Figure confirms customer data breach (DC)

  • South Korean police lose seized bitcoin held in cold wallet (TB)

  • Crypto use in human trafficking networks surges (CT)

  • $3.85M in Ether from network hack sent to Tornado Cash (DC)

  • Ransomware hackers target employee software to access computers (DC)

  • State-sponsored hackers use popular AI tools (DC)

Extra Reads

Chart of the Day

Stablecoin market cap added $5.5B in the past 7 days

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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.