Good Morning,

Here's a quick preview of today’s content: IBM unveils blockchain development platform for governments and institutions, Defunct crypto exchange Mt. Gox pushes back Bitcoin repayments, Bitcoin lender Ledn hits $1B in loan origination this year, Fed Vice Chair Bowman among other pro-crypto candidates to lead the Fed, and so much more

Happy Tuesday - 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 +42.70%

• Crypto markets rally on trade optimism and rate-cut hopes

  • BTC rises above $115K, crossing its 50-day SMA and briefly hitting a two-week high

  • Rate-cut optimism fuels $921M in weekly global crypto ETP inflows, while $350M in short positions are liquidated in 24 hours

  • BNB climbs +3% after a $1.69B token burn; XRP’s market cap reaches $157.6B, just behind BNB’s $161B

• Crypto stocks gain alongside Bitcoin and the Nasdaq as traders eye the upcoming FOMC decision and potential US-China trade deal

Market Predictions

• Bettors on Kalshi are predicting how low will Ethereum get this year?

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

• Sign up with code LIT and get a $20 bonus when you trade $100

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

• Citi partners with Coinbase to boost crypto payment options for institutional clients (DC)

• Javier Milei’s crypto-friendly party wins Argentine midterm (CT)

• S&P Global gives credit rating to Strategy, the first for a Bitcoin treasury company (BM)

• Microsoft sued in Australia over price hikes tied to AI Copilot (DC)

• American Bitcoin Corp. expands Bitcoin holdings to 3,865 BTC (BM)

• Statue of Binance founder CZ coming to Washington DC after pardon (DC)

• Strategy buys another 390 BTC for $43M (DC)

• Bitcoin lender Ledn hits $1B in loan origination this year (CD)

• Standard Chartered says Bitcoin may never fall below $100k again (TB)

• Defunct crypto exchange Mt. Gox pushes back Bitcoin repayments to Oct 2026 (DC)

• South Korean crypto exchanges see 1,400x jump in flows linked to sanctioned Cambodian entities (CD)

• BitMine Immersion adds $321M worth of ETH (DC)

• XRP treasury Evernorth accumulates $1B worth of XRP (CS)

• Apollo partners with Coinbase to 'unlock' stablecoin lending business (TB)

• Bitplanet starts daily Bitcoin accumulation with 93 BTC purchase (CS)

• MegaETH raises $50M as MEGA token sale tops 3x demand (TB)

• Jiuzi Holdings partners with SOLV Foundation to advance crypto treasury strategy (CD)

• ClearBank joins Circle Payments Network for global money movement (CD)

• Website for MetaMask claims portal surfaces (TB)

• Zcash surpasses 2021 peak following 30-day triple-digit rally (DC)

Venture Capital

• Prenetics Global, a Hong Kong-based health sciences firm, announces the pricing of a PEO to generate $48M in gross proceeds, with the potential to raise $216M, led by sole placement agent Dominari Securities LLC (BM)

M&A Announcements

• Gate Ventures, the VC arm of crypto platform Gate, announces the strategic acquisition of Perp DEX ADEN (CD)

Launches

• IBM unveils blockchain development platform for governments and institutions (BW)

• NYSE lists Solana, Hedera, Litecoin Spot Crypto ETFs for trading this week (CD)

• Japan's JPYC launches country's first yen-denominated stablecoin (TB)

• Bored Ape Metaverse game 'Otherside' launches with Amazon NFT drop (DC)

• Korean company Bitplanet kicks off treasury plan (DC)

• tZERO plans IPO to expand tokenized asset platform (BW)

Regulation

• Senators Warren and Schiff push resolution denouncing Trump pardon of Binance founder (DC)

• Fed Vice Chair Bowman among other pro-crypto candidates to lead Federal Reserve (TB)

• China's central bank to continue cracking down on domestic crypto operations (DC)

• WazirX barred from redistributing XRP as Indian court affirms crypto as property (DC)

• Canada advances stablecoin framework ahead of federal budget update (TB)

• Chinese Ant Group registers Hong Kong trademarks tied to stablecoins (DC)

• Australian crypto firms back draft laws (CT)

• Bitcoin proposal seeks to roll back upgrade that allows users to attach data to transactions (CS)

• Ohio bill aims to outlaw human-chatbot marriage (DC)

Cybersecurity

• Kraken warns of crypto scam that starts with “Congratulations, You’re Hired” (FM)

• DYdX community to vote on $462K payout proposal following outage (CT)

Extra Reads

• What began as a triumphant October for Bitcoin quickly devolved into chaos as a $19B derivatives wipeout and a -17% price plunge left traders reeling - Here’s how October was the most destructive month for crypto traders

• Many traders see crypto as outside the traditional financial system, but tax authorities treat it as property, subject to the same rules as stocks or real estate - Here’s what happens if you don’t pay taxes on your crypto holdings

Chart of the Day

Bitcoin demand from traders drops to year-to-date low

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.