Good Morning,

Here's a quick preview of today’s content: Indiana lawmaker pushes for Bitcoin in pensions, Crypto fraud network that laundered $815M busted, French bank BPCE rolls out crypto trading for clients, Beeple makes robot dogs that poop NFTs, Euro stablecoin market cap doubles in year after MiCA, and so much more

Happy Monday - 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 (7/7/25) Gannon’s Crypto Portfolio is up +20.52%

• Crypto markets slide as $500M in liquidations hit and ETF outflows spike

  • Bitcoin, ETH, and XRP drop sharply as liquidations exceed $500M

  • Spot BTC ETFs shed $195M - the largest daily outflow in two weeks

  • BlackRock’s IBIT extends its record outflow streak, now totaling $2.7B

  • SOL posts gains despite a weeklong market slump

  • ETH supply on exchanges falls to its lowest level since 2015

• Bitcoin edges back above $91K as traders await Fed and jobs data

Prediction Markets

• Bettors on Polymarket are predicting Game of the Year 2025?

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

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

• OpenAI ordered to hand over 20M ChatGPT logs (DC)

• Beeple makes robot dogs that poop NFTs (DC)

• Maryland man sentenced for helping North Korea infiltrate tech firms (DC)

• Video game canceled after generative AI allegations (DC)

• Farage’s $10M crypto donor sparks political funding fears in UK (BBG)

• Polymarket hires team to trade against customers (CD)

• BItcoin set for first yearly split from stocks in decade (BBG)

• 2K BTC moved after 13 years inactive (CD)

• Jupiter exec acknowledges 'zero contagion' claim was incorrect (TB)

• MetaMask integrates Polymarket (TB)

• Euro stablecoin market cap doubles in year after MiCA (CD)

• Ethereum sees 25% validation drop post-Fusaka (CT)

• BitMine buys $199M in Ether (CT)

• Canada targets Dapper Labs in crypto tax probe (TB)

• Vitalik Buterin floats gas futures on Ethereum (CT)

• Texas lender joins field of crypto-focused banks (CD)

• Strive urges MSCI to rethink on treasuries (TB)

• ZKsync retires its original Ethereum rollup (DC)

• Study finds investors consider crypto less as risk-taking drops (CT)

• Bitcoin Cash becomes best performing L1 of the year (CT)

• Uniswap's Lindsay Fraser runs policy shop at Blockchain Association (CD)

• Mugafi partners with Avalanche to tokenize entertainment IP (CT)

Venture Capital

• Blockchain bank N3XT raises $72M across three funding rounds from Paradigm, Hack VC, Winklevoss Capital, and other investors (OD)

• Privacy-focused L2 Aztec Network raises $60M in ETH with community-first token sale (TB)

• Portal, a cross-chain atomic swap startup, raises $25M led by JTSA Global with participation from Coinbase Ventures, and more (CE)

• KO Inflation, a Web3 project, raises $25M led by Bolts Capital (CD)

• DeepNode, a decentralized AI network, raises $5M with participation from community members and network validators such as WildSageLabs and others (CD)

• LayerBank, a DeFi liquidity and on-chain money-market startup, raises $2.3M pre-seed from Torab Torabi, Coinbureau, DV Chain, Taiko, Rootstock, and several angels (CW)

• Cross-border fintech infrastructure startup Finturu raises $1.3M pre-seed from angel investors (LF)

• Haiku, a decentralized trading infrastructure startup, raises $1M pre-seed led by Big Brain Holdings with participation from Auros, Frostlight, and others (BG)

• GeeFi raises more than $950k from public investors in a multi-phase token presale (CP)

• Webacy, an AI-powered crypto risk-intelligence startup, closes an undisclosed funding round from backers Mozilla Foundation, GMJP, and DG Daiwa Ventures (WB)

Access the complete VC deal flow on Fundable.

M&A Announcements

• Turkey-based Paribu acquires CoinMENA, the largest crypto exchange in the Middle East, in a deal valued at $240M (TB)

• Anthony Pompliano-led ProCap BTC closes its SPAC merger with Columbus Circle Capital (CD)

Launches

• Western Union rolls out inflation-resistant ‘stable cards’ (CT)

• Robinhood opens in Indonesia (CT)

• Coinbase starts onboarding users in India (TC)

• Kraken launches program for high net worth clients (CD)

• French bank BPCE rolls out crypto trading for clients (CD)

• Crypto underwriter Clear Street plans public listing (CT)

• WisdomTree launches ETP on Lido protocol (TB)

• HumidiFi launches token after snipers raid presale (TD)

• Hotstuff Labs launches DeFi native Layer 1 (CD)

Regulation

• Lawyer outlines issues holding up crypto market structure (TB)

• Indiana lawmaker pushes for Bitcoin in pensions (DC)

• Trump's national security strategy ignores blockchain (CD)

• Italy warns crypto firms to meet MiCA deadline or shut down (TB)

• EU seeks to transfer crypto oversight (CD)

• Polish lawmakers fail to revive crypto bill after veto (CT)

• South Korea imposes bank-level liability on crypto exchanges (CT)

• DOJ wants Terra founder behind bars for 12 years (DC)

• EU opens antitrust probe into Meta's AI policy (DC)

Cybersecurity

• Crypto fraud network that laundered $815M busted (TB)

• British actor tied to $243M Genesis theft arrested (TB)

• Smugglers ditch hawala networks for stablecoins (DC)

• Solana presale hijacked by Sybil wallets (CT)

Extra Reads

• Digital-asset treasury plays that once traded at big premiums have fallen back toward net asset value - Has the DAT bubble burst?

• Texas is the first US state to purchase and hold Bitcoin, but why did it act during a market pullback, and how could this move influence national crypto policy - Here’s what Texas’ recent purchase signals to the rest of the US

Chart of the Day

Public miners’ average Bitcoin production cost hit $74.6K

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.