Good Morning,

Here's a quick preview of today’s content: China alleges US stole $13.2B BTC five years ago, SoFi rolls out access to crypto trading, Coinbase abandons acquisition of BVNK, Sygnum reports institutional investors are rotating into crypto, Senate leaders push to put crypto trading under CFTC, and so much more

Happy Wednesday - 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 +42.00%

• Crypto markets stabilize as Ethereum accumulation signals local bottom

  • Bitcoin steadied near $105K amid easing risk and policy tailwinds, while BTC ETF demand stalled

  • On-chain data shows ETH whales accumulating ahead of Fusaka upgrade - cohorts holding 10K-100K ETH have boosted balances by +52%

  • SOL ETFs notched a 10th straight day of inflows totaling $6.78M, as institutional interest remains resilient

• Total crypto market cap sits near $3.46T

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

• DBS and JPMorgan develop framework for tokenized deposits (TB)

• Standard Chartered and DCS partner to support stablecoin credit card (TB)

• China alleges US stole $13.2B BTC five years ago (DC)

• Sygnum reports institutional investors are rotating into crypto in Q4 (TB)

• Former BlackRock exec says ETH is ‘the infrastructure’ for Wall Street (CD)

• Polymarket partners with fantasy sports app PrizePicks (TB)

• SoftBank dumps entire $5.8B Nvidia stake (DC)

• Pro-XRP lawyer John Deaton runs for Senate in Massachusetts (DC)

• Domino’s pizza partners with xMoney for crypto payments (CD)

• ZCash pool climbs to 23% as network usage surges (TB)

• Bitcoin user pays over $105k BTC to send $10 (DC)

• MegaETH revokes $1M token sale after influencer posts trading plans (DC)

• Solana treasury Upexi posts record quarter powered by $78M SOL gains (TB)

• NFT and memecoin markets recover after month-long slump (CT)

• Stellar blockchain to power Turbo’s tokenized energy financing initiative (CD)

• LBank’s stablecoin program reports $67.4M TVL (CD)

• Threshold Network upgrades bridge to link institutional Bitcoin with DeFi (TD)

Venture Capital

• Bitcoin mining firm CleanSpark to raise $1B through convertible senior notes (TB)

• Trading protocol Lighter raises $68M in funding led by Founders Fund and Ribbit Capital (TB)

M&A Announcements

• Coinbase abandons $2B acquisition of stablecoin firm BVNK (DC)

• Northern Data cut to hold to reflect acquisition by Rumble (CD)

• Rise acquires BSX Labs, the team behind the BSX perp exchange on Base (CD)

Launches

• SoFi rolls out access to crypto trading (DC)

• Canary XRP ETF to start trading this week (DC)

• Startale unveils app for Sony's Soneium blockchain ecosystem (TB)

• VCI Global unveils crypto treasury plan (CT)

• Intain and FIS roll out tokenized loan marketplace for banks (CD)

• Injective rolls out EVM support on its Cosmos-based chain (TB)

Regulation

• Senate leaders push to put crypto spot trading under CFTC watch (DC)

• Brazil extends financial sector regulations to crypto service providers (TB)

• Bank of England’s Breeden warns watered-down stablecoin rules risk stability (CT)

• ClearToken wins UK approval for crypto and tokenized asset settlement system (TB)

• Transak secures 6 state licenses expanding stablecoin payments (CT)

Cybersecurity

• Fraudster behind UK's largest Bitcoin seizure gets 11-year jail sentence (DC)

• Prosecutors seek new trial for MIT brothers after $25M fraud case ends in mistrial (TB)

• Argentina turns up the heat in Libra scandal with sweeping asset freeze (CT)

Extra Reads

• The US govt could soon reopen, allowing federal agencies overseeing crypto to resume operations and enabling lawmakers to refocus on long-stalled crypto legislation - Here's what it means for crypto when agencies reopen

• 2025 marked a turning point for crypto, as investors prioritized real utility and institutional integration over hype-driven speculation - Here’s 8 crypto coins that defined 2025

• Crypto wallets have evolved beyond asset storage into portable identity containers and self-custodial hubs, using zero-knowledge proofs - Here’s why your crypto wallet is your digital passport

Chart of the Day

Ethereum supply on Binance falls to lowest level since May

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.