Good Morning,

Here's a quick preview of today’s content: Bipartisan lawmakers unveil crypto tax framework, Hyundai offices evacuated over bomb threat and Bitcoin ransom, DraftKings launches standalone predictions app, Klarna taps Coinbase to accept stablecoin funding, Citi says Bitcoin will jump to $143k, 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 +47.43%

• Crypto markets churn as macro relief fades and selling pressure lingers

  • BTC whipsawed post-CPI, triggering $500M+ in liquidations as price struggled to clear $89K

  • ETF outflows and softer Fed cut odds weighed on large caps, keeping rallies capped

  • Crypto market cap slid to an 8-month low, with AI-linked tokens leading losses

Prediction Markets

• Bettors on Polymarket are predicting which company has best AI model end of 2025?

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

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

• OpenAI and Microsoft sued over role in murder-suicide (DC)

• Hyundai offices evacuated over bomb threat and Bitcoin ransom (DC)

• Crypto chaos jolts hedge funds worst year since 2022 crash (BBG)

• Citi says Bitcoin will jump to $143k (BM)

• JPMorgan says stablecoin market could grow to $600B (CD)

• Klarna taps Coinbase to accept stablecoin funding (CT)

• Coinbase says Trump's bill pushes gamblers into prediction markets (TB)

• Galaxy predicts stablecoins to overtake ACH transaction volume (CT)

• MoMA adds NFTs to permanent collection (TB)

• VanEck's Avalanche ETF filing includes staking rewards (CD)

• Cathie Wood scoops up more Coinbase shares (TB)

• Crypto activity in Brazil rises 43% (CT)

• Migrating Bitcoin to post-quantum may take 5-10 years (CT)

• Weekly Hyperliquid outflows top $430M (TB)

• Fragmentation drains $1.3B a year from tokenized assets (CT)

• Fundstrat’s 2026 crypto outlook warns of pullback (CT)

• Tom Lee responds to controversy surrounding Bitcoin outlooks (CD)

• Maple Finance CEO says on-chain markets will swallow Wall Street (CD)

• Blockchain Association won’t expand stablecoin yield prohibition (CT)

• Marshall Islands test crypto for universal basic income (DC)

• Ethereum devs name post-Glamsterdam upgrade (TB)

• BlackRock's Bitcoin ETF racks up $25B yearly inflows (CD)

Venture Capital

• EDENA Capital Partners, a digital-securities infrastructure startup, secures $100M via a utility token purchase agreement from GEM Token Fund (RT)

• Fuse Energy, a Solana-native DeFi startup, raises $70M Series B co-led by Lowercarbon Capital and Balderton Capital (BG)

• Olea Global, a digital trade-finance platform, raises $30M Series A equity round led by BBVA with participation from XDC Network, The Dock, and additional investors (CI)

• Stablecoin-focused neobank Kontigo raises $20M seed round from DST Global, Y Combinator, Coinbase Ventures, and others (FF)

• DAWN, a decentralized wireless broadband protocol, raises $13M Series B led by Polychain Capital (CD)

• Gold-backed crypto startup GOLDX raises $3.9M seed investment from NAS Investment (MT)

• On-chain trading startup Easy.fun raises $2M seed round led by Mirana Ventures with participation from angel investors (BM)

• Stablecoin infrastructure startup Nodu raises $1.45M pre-seed round led by Digital Space Ventures (TE)

Access the complete VC deal flow on Fundable.

M&A Announcements

• Hilbert Group acquires high-frequency trading platform Enigma Nordic in $32M deal (CD)

• Ripple takes minority stake in TJM Investments to support its trading operations (CD)

• Northern Data, a German AI and data center company, sells its Bitcoin mining subsidiary for $200M to a group of companies controlled by Tether (TB)

Launches

• DraftKings launches standalone predictions app (TB)

• Metaplanet debuts US trading with Deutsche (CT)

• Bitwise files to offer spot Sui ETF (CT)

• Bybit relaunches UK crypto platform (TB)

• Eigen Foundation unveils governance proposal for token (CD)

• Uniswap fee switch goes live (CT)

• Gem Wallet adds cross-chain USDT support (CD)

• HLS token launches across major exchanges (CD)

Regulation

• Senators set January for new crypto market structure bill (DC)

• Fed pushes ahead with master account plan for crypto banks (DC)

• ECB says digital euro is ready (DC)

• Senate confirms CFTC Chair pick Michael Selig (TB)

• Republicans urge IRS to overhaul crypto staking tax rules (DC)

• Lawmaker says crypto bills shouldn't be Bitcoin or bust (DC)

• 'Bitcoin Senator' Lummis won’t run for reelection (DC)

• Coinbase sues three states over prediction market regulation (DC)

• Terraform admin sues Jump Trading for $4B over collapse (DC)

• FTX and Alameda execs barred from Wall Street roles (DC)

• CySEC imposes reporting rules on crypto firms for MiCA (FM)

• Poland’s lower house approves crypto law again (CD)

Cybersecurity

• Crypto trader loses $50M in address poisoning attack (TB)

• Brooklyn man charged in phishing scheme that swipes $16M (DC)

• South Korean police probe counterfeit cash ring targeting crypto traders (DC)

• IcomTech crypto ponzi promoter sentenced to six years (DC)

Extra Reads

• Quantum computing is not currently an existential threat to Bitcoin, but as capital becomes more institutional and long-term, even distant risks require clearer answers - Here’s why Bitcoin’s quantum debate is resurfacing

• Taking about crypto to normies is really hard, from attempting explanations of proof-of-stake, to smart contracts, audiences may be left far more confused than before - Here’s a holiday guide to explaining crypto to your relatives

Chart of the Day

Crypto market is the worst-performing asset in 2025

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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.