$9 Billion Whale Exit

Saylor’s Strategy now owns 3% of the total Bitcoin supply

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Good Morning,

Here's a quick preview of today’s content: A content creator has trapps scammers for over 4,000 hours, Saylor continues to try to own every single Bitcoin, Christie’s International Real Estate gets involved in crypto, Winklevoss has choice words for JPMorgan, Hulk and Ozzy memecoins soar after generational icons pass away

Happy Monday - Let’s dive in.

Market Snapshot

  • The global crypto market cap stayed near $3.9T, up about +1% over the weekend as the sector consolidated after reaching $4T the previous week

  • Bitcoin traded between $117,500 and $118,400, ending the weekend near $117,900 with modest gains

    • ETH fluctuated between $3,700 and $3,770, finishing flat with increased DeFi activity

  • Altcoins and meme coins showed mixed results: OMNI, REI, GLM, FIS, and MDT posted strong double-digit gains, while major tokens like Solana, BNB, DOGE, ADA, and XRP were mostly stable

Market Predictions

  • Bettors on Kalshi are predicting if Bank of America will launch a stablecoin 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

Headline Roundup
The major headlines driving crypto markets

  • Galaxy has sold more than 80,000 BTC ($9B) for a Satoshi-era investor, marking the largest ever notional sale of Bitcoin (TB)

  • Christie’s International Real Estate has launched a dedicated division to facilitate real estate transactions conducted entirely in crypt (CD)

  • Saylor’s Strategy now owns 3% of the total Bitcoin supply (DC)

  • Kyrgyzstan is Moscow’s crypto backdoor to dodge sanctions (TD)

  • SharpLink Gaming has appointed Joseph Chalom, a former BlackRock executive, as co-CEO (CD)

  • A look into Chinese billionaire Justin Sun’s Tron office in Florida (DC)

  • Tyler Winklevoss said that JPMorgan allegedly halted its onboarding process for Gemini after he publicly criticized the bank's new fee structure for fintech companies (CD)

  • Korean degens continue to send altcoins soaring (TD)

  • Japanese AI firm Quantum Solutions plans to invest in Bitcoin with a goal of building a treasury of up to 3,000 BTC over the next 12 months (CD)

  • Dragonfly has confirmed that U.S. government is considering charges against the venture firm for its early support of Tornado Cash (TB)

  • Roman Storm asks for $1.5M lifeline as Tornado Cash trial presses on (CT)

  • Bitcoin’s 4-Year cycle theory is dead as whale strategy has shifted (TD)

  • Bitcoin miner Cango generates 147 BTC in a week, joins 50 EH/s club (TB)

  • Nasdaq-listed Windtree Therapeutics has said it will buy up to $700M in BNB (DC)

  • Tether mints $2B USDT, July issuance tops $7B (TD)

  • Ark Invest sells $12M in Coinbase stock, $9.8M in Block Inc. shares amid crypto rebalancing (TB)

  • Hulk and Ozzy memecoins soar after generational icons pass away (CY)

  • Pudgy Penguins denies OpenSea acquisition rumors, focuses on partnerships (CT)

Learn from this investor’s $100m mistake

In 2010, a Grammy-winning artist passed on investing $200K in an emerging real estate disruptor. That stake could be worth $100+ million today.

One year later, another real estate disruptor, Zillow, went public. This time, everyday investors had regrets, missing pre-IPO gains.

Now, a new real estate innovator, Pacaso – founded by a former Zillow exec – is disrupting a $1.3T market. And unlike the others, you can invest in Pacaso as a private company.

Pacaso’s co-ownership model has generated $1B+ in luxury home sales and service fees, earned $110M+ in gross profits to date, and received backing from the same VCs behind Uber, Venmo, and eBay. They even reserved the Nasdaq ticker PCSO.

Paid advertisement for Pacaso’s Regulation A offering. Read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals.

Venture Capital

  • Nasdaq-listed Windtree Therapeutics has announced plans to raise up to $520M in new funding, with ~99% of the proceeds intended to purchase BNB for its corporate treasury

  • The Hong Kong-based crypto firm completes a $300M equity funding round (TB)

M&A Announcements

  • The Smarter Web Company adds $26M in Bitcoin, boosting holdings to 1,825 BTC (TB)

Regulation

  • Wyoming is close to becoming the first U.S. state to issue its own stablecoin (DC)

  • Digital bank Revolut's crypto staking services are once again available for its customers in Hungary (CD)

  • ASIC accuses Bitget of offering unlicensed crypto futures to Australians, lacking an AFS licence and bypassing investor protections (DC)

Cybersecurity

  • Tea App that claimed to protect women exposes 72,000 IDs in epic security fail (DC)

  • Coinbase sues man using a Coinbase-like URL to make money (CT)

  • A content creator has trapped scammers for approximately 4,000 hours in an infinite maze pretending to be a way to redeem Bitcoin from their victims (DC)

  • KYC comes for crypto cards as SolCard shuts door on anonymous Visa use (TD)

Extra Reads

Chart of the Day

Coinbase’s rebrand of its Wallet into the Base App has kicked off a SocialFi surge, sending Zora's activity into overdrive and leading to a massive rally for its token.

The result, according to Dune data, were daily Zora token creations jumping from about 4,000 to more than 15,000, with a peak of 38,000 mints on July 24.

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