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Here's a quick preview of today’s content: Secret Service freezes $52.8M in crypto, Banks increase Clarity Act lobbying fight, Tether and Fasanara launch stablecoin private credit fund, Mexico seizes 300 crypto mining rigs, AI boom wrecks Trump’s plan for bitcoin mining, and so much more

Polymarket recently launched Polymarket Institutional Research, a publication exploring the intersection of prediction markets with the global financial system. It's proprietary research straight from their institutional desk with super valuable insights for public market investors. You can read their latest piece here.

Happy Thursday - 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 (7/3/25), Gannon’s Crypto Portfolio is up +16.9% Gannon’s AI Fund is up +61.2%

• Bitcoin gives back overnight gains and fails to reclaim $80K as Brent tops $100 after Iran strikes

  • 93 of the 123 largest non-stablecoin tokens fell

  • BTC funds record their first outflow since Sept. 1, though ZEC notches a $500M ETF haul

• Bitcoin miners are missing the crypto rally as exchanges and stablecoins surge

Prediction Markets

• Who will be arrested in 2026?

• Deposit $10 and get a $20 bonus with code LIT on signup, only on the Polymarket US app

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

• Hunter Biden’s memecoin plummets on debut (BBG)

• AI boom wrecks Trump’s plan for bitcoin mining (BBG)

• Anthropic researcher says AI could kill us (CD)

• Iran uses bitcoin to keep economy stable (BM)

• Consensys splits in two as MetaMask departs (DC)

• OpenAI agents solve a $1M math problem (CD)

• Secretary Bessent urges Senate to pass Clarity Act (BM)

• Mexican musician and family killed over bitcoin wallet (DC)

• Robinhood CEO Vlad Tenev fires back at AMC's Aron (CD)

• US Bank takes step towards launching its stablecoin (CD)

• Mexico seizes 300 crypto mining rigs (DC)

• Steak ‘n Shake sales grow double digits since bitcoin adoption (BM)

• PayPal expands stablecoin rails (CD)

• Algorand names former Chainlink exec as CEO (CD)

• Hyperliquid pushes for perpetual futures (TB)

• Solana treasury SkyAI faces board challenge (TB)

A Message from Polymarket

CONVERGENCE?

What’s really driving the SpaceX - Tesla merger odds?

Elon Musk has a long history of rolling up his companies. X.com and Paypal (2000), Solar City and Tesla (2016). xAI and X.com (2025) and SpaceX and xAI in February of this year.  

For nearly a decade Elon has insisted that there was “not a strong rationale” to merge Tesla with SpaceX. But in November we started to hear a different tune. “My companies are, surprisingly in some ways, trending towards convergence,” Elon posted in November of 2025. 

Will 2027 be the year of the Elon giga-merger? 

Read more at Polymarket Institutional Research -> 

Venture Capital

• Blockchain firm TRM Labs doubles its valuation to $2B in funding round led by Blockchain Capital (CD)

Access the complete VC deal flow on Fundable.

Launches

• Tether and Fasanara launch stablecoin private credit fund (TB)

• Staked ETF tied to Tron hits the market (TB)

• IonQ unveils quantum computer (DC)

• Pump.fun launches coins priced in tokenized stocks (TD)

• Ink and GSR open Charter Foundation (TB)

Regulation

• Banks increase Clarity Act lobbying fight (DC)

• Crypto groups escalate fight against Illinois (TB)

• Germany drafts 25% tax on crypto gains (DC)

• India seeks takedown of 15 crypto platforms (TB)

• Italy orders screening for crypto transfers (CT)

Cybersecurity

• Secret Service freezes $52.8M in crypto (DC)

• Trezor hackers breach its email provider (DC)

• US sanctions another cyber-scam hub (CD)

• UK warns of innovative crypto laundering (DC)

Extra Reads

• Who is Satoshi? Where did Mt. Gox's coins go? And why did someone deliberately burn $8.5M in Bitcoin they'd held for 12 years? Some of crypto's biggest questions still have no good answer - Here's 10 of crypto's greatest unsolved mysteries

• Every time you hand over an ID to open an account, that data gets pooled into a central database, and those "honeypots" are exactly what spilled 150M-plus driver's licenses onto the dark web - Here's why KYC data has become a hacker's dream

Chart of the Day

Stablecoin market cap rose +1.19% to $311B in August

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.