Banks Battles Stablecoins

Strategy now owns 3% of all Bitcoin

In partnership with

Good Morning,

Here's a quick preview of today’s content: Strategy now owns 3% of all Bitcoin supply, Gemini launches an XRP credit card, Webull bounces back, Cristian Ronaldo coin rumors spike but traders are ready for the suspected rug, Grayscale looks to add Avalanche, Crypto VCs face post-FTX fallout, 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.*

  • Crypto markets tumbled Monday as a massive liquidation sent shockwaves through the market that topped $900M, briefly pushing BTC below $111,000

  • Bitcoin and Ether led last week’s crypto product outflows of $1.4B despite a price rebound after dovish remarks from Federal Reserve Chair Jerome Powell

    • After nearly $2B in early-week redemptions, flows reversed with $594M of net inflows post-Jackson Hole

  • Analysts attributed the decline to significant whale movements as large holders switched from Bitcoin to Ether, and to market recalibration among traders

Market Prediction

  • Bettors on Kalshi are predicting when will Bitcoin hit $125k?

  • 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

  • Banks are pushing to change new US stablecoin rules over fears they will spark trillions of dollars’ worth of outflows (FT)

  • Webull started offering crypto trading to US customers again (BBG)

  • Prediction market Kalshi hires prominent voice in digital assets John Wang to be its head of crypto (TB)

  • Unidentified crypto wallet buys $2.5B worth of ETH, stakes the whole amount (TD)

  • Bitcoin slips to $112,700 amid continued whale migration to Ethereum (TB)

  • Circle, the issuer of the USDC stablecoin, mints multiple large batches of USDC in recent days (TD)

  • Rumors circulate the internet that Cristiano Ronaldo was set to release an official memecoin (DC)

  • FootballDotFun, a Web3 fantasy soccer game on Base, explodes with $25.7M trading volume and 10,284 users in under two weeks (DC)

  • Japan's Finance Minister Katsunobu Katō states that cryptocurrencies can be part of a diversified investment portfolio despite their high volatility (CD)

  • Grayscale submits a registration statement for its Avalanche Trust (DC)

  • ETH treasury firm, BitMine, loads up 190,500 more ETH (BL)

  • Xapo Bank hires Tommy Doyle as its new head of relationship management, based in London (CD)

  • Citi’s Ronit Ghose warns that paying interest on stablecoin holdings could trigger bank outflows akin to the 1980s (CT)

  • Treasury company, ETHZilla, bulks up its holdings with a new buy and announces a $250M stock repurchase program (BL)

  • The Philippines introduces a proposal to establish a Strategic Bitcoin Reserve (DC)

  • Hyperliquid-based tokenization protocol, Unit, trades more BTC spot volume than Coinbase and Bybit over a 24-hour period (TD)

  • US SEC opens comment period on proposed staked Injective ETF from Canary (TB)

  • Japan’s SBI Group partners with platform Chainlink to create crypto tools for Asia’s financial institutions (CT)

From Italy to a Nasdaq Reservation

How do you follow record-setting success? Get stronger. Take Pacaso. Their real estate co-ownership tech set records in Paris and London in 2024. No surprise. Coldwell Banker says 40% of wealthy Americans plan to buy abroad within a year. So adding 10+ new international destinations, including three in Italy, is big. 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

  • Galaxy Digital, Jump Crypto, and Multicoin Capital are in talks to raise $1B to establish a digital asset treasury firm focused on Solana (TB)

  • Sharps Technology's stock soars after the company announced it will raise $400M to buy Solana (DC)

  • AnchorageDigital launches a ventures unit to back early-stage on-chain protocols, offering funding plus strategic support (TB)

M&A Announcements

  • Cross-chain bridge Stargate’s governance organization approves an acquisition offer from LayerZero Foundation with nearly 95% of votes in favor (TB)

  • Strategy acquires $357M BTC, now owns 3% of total Bitcoin supply (BL)

Launches

  • Crypto exchange Gemini launches an XRP credit card with Ripple, offering crypto rewards (CD)

  • Canary Capital files for an ETF that will give investors exposure to coins created in America (DC)

  • Tokyo-listed Bitcoin treasury, Metaplanet, joins FTSE Japan index (DC)

  • B Strategy announces plans to launch a Nasdaq-listed BNB treasury company, targeting a $1B raise (TB)

  • Aubrai, a decentralized AI agent, launches on Base, aims to revolutionize longevity research by using blockchain and DAOs to fund and manage scientific experiments (CD)

  • Canary Capital Group files to launch the Canary American-Made Crypto ETF (CT)

Regulation

  • The World Federation of Exchanges asks leading securities regulators to tighten oversight of so-called tokenized stocks (TD)

Cybersecurity

  • A blockchain investigator attributes $5.27M in crypto stolen over three weeks to a rising scam service known as Vanilla Drainer (CT)

  • A wallet address labeled by blockchain security analysts as the “Coinbase hacker” bought $8M in Solana using reportedly ill-gotten gains (CT)

Extra Reads

Chart of the Day

As of mid-2025, more than 4,300 ETFs trade in the US, surpassing the 4,200 available equities

How was today's newsletter?

Login or Subscribe to participate in polls.

Meme Dump

Pls send us crypto memes to be featured in the newsletter 🤝

🐦 Follow Us: Visit our X account for daily updates on all things web3, DeFi, & crypto.

💰 Gannon’s Crypto Portfolio: Trade alongside Gannon’s crypto on Autopilot

💵 Litquidity Ventures: Accredited investors & qualified purchasers within the Litquidity community can gain access to alternative investments such as venture, late-stage growth, and private equity through Litquidity Ventures. Interested? Fill out this form.

☎️ Book a call with Lit: Want to pick Litquidity’s brain on business advice, insights, or just chat to say what’s up? Buy his time here.

📧 Launch your own newsletter: Have great content ideas and looking to launch your own publication? We highly recommend Beehiiv to get started.

*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.