Good Morning,

Here's a quick preview of today’s content: Silicon Valley engineers charged with theft of Google secrets, Trump's Board of Peace eyes stablecoin to support Gaza, Jane Street accused of insider trading that helped collapse Terraform, Crypto.com secures approval for bank charter, Michael Saylor's Strategy logs 100th bitcoin purchase, and so much more

Happy Tuesday - Let’s dive in.

Market Snapshot

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• Bitcoin crashes below $65,000 as macro shocks and whale selling trigger $500M in liquidations

  • Global ETP outflows stretch to fifth week with $4B exodus and five-week BTC ETF bleed of $3.8B

  • ETH hits 2-week low as broad losses rip through crypto amid tariff uncertainty

  • Total mcap slides -3% to $2.29T, wiping weekend gains and returning to 'extreme fear' levels

• US-EU tariff disputes and Trump's 15% global tariff fuel ongoing slump despite markets initially shrugging off policy changes

Prediction Markets

• Bettors on Polymarket are predicting who will ZachXBT expose for insider trading?

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

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

• Binance fires staff who flag $1B moving to sanctioned Iran entities (WSJ)

• Jane Street accused of insider trading that helped collapse Terraform (WSJ)

• Trump's Board of Peace eyes stablecoin to support Gaza (TB)

• Trump family’s crypto venture says it faced 'coordinated attack' (BBG)

• World Liberty plots Maldives hotel tokenization project (DC)

• CZ touts US growth bid at Trump family crypto bash (BBG)

• Winklevoss’ Gemini risks hard landing after crypt rout (BBG)

• Dubai makes real estate flips instant in $16B tokenization plan (CD)

• Mystery Hong Kong investor in BlackRock ETF breaks silence (CD)

• AI bot accidentally sends entire memecoin holdings to X user (TB)

• Michael Saylor's Strategy logs 100th bitcoin purchase (TB)

• Vitalik Buterin continues ETH selling spree (DC)

• Stablecoins to scoop up $1T in T-bills by 2028 (DC)

• Bitdeer's treasury drops to zero after miner liquidates BTC (TB)

• ProShares ETF generates record $17B in trading volume (TB)

• Anthony Pompliano's treasury buys back stock (DC)

• French energy giant Engie eyes Bitcoin mining (BM)

• Bitmine ups Ether treasury stake to 4.42M (TB)

• KuCoin halts EU business due to staffing shortfall (CD)

• AI agent OpenClaw bans crypto discussions in Discord (CD)

• Metaplanet CEO pushes back against online criticism (TB)

• South Korea's Hanwha taps Jito for staking ETPs (TB)

• Lightspark teams with Cross River for Bitcoin payments (TD)

• BGD Labs ceases Aave contributions after four years (TB)

• Parsec shuts down amid ongoing market volatility (CT)

Venture Capital

• Aztec, a privacy Ethereum layer, completes $61M raise with crypto-native participants (OK)

• BASIS, a crypto staking platform, secures $35M Pre-Series A investment from parent Base58 Labs (CR)

• Layer-2 platform Stacks raises $23M Series A round led by undisclosed VC and crypto investors (VB)

• Based, a Hyperliquid-based trading app, raises $11.5M from Pantera, Coinbase Ventures, Wintermute Ventures, and others (TB)

• Newity, a blockchain lending platform, raises $11M SAFE round led by CMT Digital (DB)

• Pod Network, a Layer 1 blockchain, raises $10M led by Andreessen Horowitz and 1kx with participation from Flashbots, Blockchain Builders Fund and Protagonist (DB)

Access the complete VC deal flow on Fundable.

M&A Announcements

• Mining firm MARA Holdings completes purchase of majority stake in French data center Exaion (TB)

• Crypto exchange Backpack offers users access to equity representing 20% of the company (TB)

Launches

• Japan's SBI issues 10B onchain bond (CD)

• BNP Paribas taps Ethereum for tokenization pilot (TB)

• Stablecore's Jack Henry opens stablecoins to 1,600 banks (CT)

• Rate unveils mortgage program recognizing crypto (CT)

• Solana Company kicks off APAC staking buildout (TB)

• Satlantis launches Bitcoin ticketing platform (CT)

• NEAR launches Near.com super app (CD)

Regulation

• House Dems raise alarm over Trump’s crypto bank request (DC)

• South Korean regulators slammed over Bithumb's $43B blunder (DC)

• Crypto.com secures approval for bank charter (DC)

• Five crypto exchanges help Russia evade sanctions (TB)

• Missouri advances bitcoin reserve bill to House (TB)

• SEC issues guidance on broker stablecoin requirements (TB)

• BOK urges limiting stablecoin issuers on laundering risks (BBG)

• Chainlink's Taylor Lindman joins SEC crypto task force (TB)

• Netherlands bans Polymarket (DC)

Cybersecurity

• Silicon Valley engineers charged with theft of Google secrets (DC)

• Malaysian authorities arrest 12 officers over crypto extortion (TB)

• Lending market 'Blend' suffers $10M+ exploit (BL)

• Ex-Revolut employee threatens to leak data for crypto ransom (CT)

• Australian police charge man over $3.5M scam targeting elderly (DC)

• IoTeX offers hackers 10% bounty if they return $4.4M (CD)

• Fusaka upgrade fuels record address poisoning (TD)

Extra Reads

• The more significant result from the US Supreme Court's rejection of President Trump's trade tariffs may be political, which could sting the industry - The Supreme Court's decision on Trump's tariffs may not rock crypto…yet

• Long-term trust-building tactics power pig-butchering crypto scams, the fastest-growing fraud threats today - Here’s how pig-butchering crypto scams turn trust into a financial weapon

Chart of the Day

Bitcoin tends to perform best when Growth is in favor and outpacing Value

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