Good Morning,

Here's a quick preview of today’s content: OpenAI takes a stake in chip manufacturer AMD, Real estate platform Opendoor to soon allow purchases using crypto, Crypto wallet MetaMask launches rewards program, Unity patches Android mobile bug, venture capital deals line up out the door, and so much more

Happy Tuesday - Let’s dive in

Market Snapshot

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• Bitcoin reaches another new all-time high above $126,200, as strong inflows into spot ETFs and falling exchange balances pushed the market higher

  • Crypto products register $5.95B worth of net inflows globally last week, the largest on record

  • BNB reached another new ATH of $1,236

  • Combined supply of stablecoins surpasses $300B for the first time

  • Layer-1 sector leads altcoin gains in first week of Q4

• Crypto markets kick off the new week up +2%, with the total mcap approaching $4.4T for the first time

Market Predictions

• Bettors on Kalshi are predicting Oscar for Best Picture?

• Trade your predictions on a range of events, only on Kalshi

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

• OpenAI agrees to purchase tens of billions worth of AMD chips in a deal that could give it up to a 10% stake in the chipmaker, sending AMD shares up 30% (CD)

• Billionaire Paul Tudor Jones calls Bitcoin ‘very appealing’ (BM)

• Real estate platform Opendoor to soon allow purchases using crypto (BM)

• BlackRock's iShares Bitcoin ETF IBIT surpasses gold and S&P 500 to become the firm's most profitable ETF as it nears $100B in assets (CS)

• The best way to invest in Bitcoin without actually buying cryptocurrency (WSJ)

• Deloitte survey shows most CFOs expect to use “crypto for business functions in the long term” (BM)

• Strategy earns $140M in dividend payments (DC)

• Analysts say stablecoins could lure $1T in deposits away from banks (DC)

• Bitcoin options open interest surges to $80B in 2025 (CD)

• BitMine Immersion adds 179,251 Ether to its balance sheet (CD)

• Monthly spot trading volume across crypto exchanges falls to $1.67T in September (TB)

• Tether to propose board candidates for Juventus football club (CT)

• Morgan Stanley GIC recommends limiting crypto concentrations between 2% and 4% (BL)

• Bitcoin companies bought over 6,700 BTC last week (CT)

• ARK Invest takes a stake in tokenization firm Securitize (CD)

• Solana Company accumulates more than 2.2M SOL (TB)

• Sanctioned A7A5 becomes largest non-US dollar stablecoin (CT)

• Former BlockFi CEO leads Galaxy Digital’s new banking venture (CD)

Venture Capital

• Drug developer Leap Therapeutics announces a $58.9M private investment led by Winklevoss Capital to launch a crypto treasury (CD)

• Bee Maps, a decentralized project, raises $32M led by Pantera Capital, LDA Capital, Borderless Capital, and Ajna Capital (CD)

• China Financial Leasing Group to build a crypto platform by raising $11.1M through a share subscription (CD)

• Securitize, a blockchain startup helping companies issue tokens, received a $10M investment from ARK Invest (MC)

• Agio Ratings, a UK source of risk insights in digital assets, raised a $5.8M round led by AlbionVC (EUS)

M&A Announcements

• Ondo Finance acquires Oasis Pro, an SEC-licensed broker-dealer (TB)

• Uniswap Labs acquires Guidestar, a team focused on AMM technology (BW)

Launches

• Grayscale adds staking to its Ether and Solana products (CD)

• Galaxy Digital rolls out GalaxyOne, a platform giving retail investors access to crypto (CD)

• Consensys founder says the firm will roll out tokens across its major products (TB)

• Crypto wallet MetaMask launches rewards program with over $30M in incentives (DC)

• PancakeSwap DEX rolls out CakePad to offer early access to new token listings (TB)

Regulation

• Swiss gambling authority investigates FIFA’s sale of blockchain-based tokens (BW)

• Vietnam caps crypto pilot at five licensed exchanges (DC)

• EU eyes crypto oversight under ESMA to end fragmented supervision (CT)

• Plume Network earns approval from the SEC as a registered transfer agent (CD)

Cybersecurity

• Unity patches Android mobile bug, says no evidence of exploit (CT)

Extra Reads

• Ethereum’s underperformance against Bitcoin sparks debate over what’s holding the asset up, with some claiming Korean traders are what's keeping ETH firms alive - Are South Korean retail traders the only thing keeping Ethereum companies alive?

• From enterprise privacy to stablecoin design, builders say crypto is becoming defined by structure, compliance, and trust - Here’s how crypto is maturing through privacy and regulation

Chart of the Day

BlackRock’s IBIT nears $100B AUM (assets under management)

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.