Good Morning,

Here's a quick preview of today’s content: Law enforcement freeze $41M connected to crypto ponzi, White House sets deadline for crypto bill, Morgan Stanley pilots crypto trading on E*Trade, Andreessen Horowitz raises $2.2B for new crypto fund, Y Combinator holds crypto startup interviews in New York, and so much more

Happy Thursday - 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 +16.38%

• Bitcoin hits 3-month high of $82,800 as Iran truce holds and oil crashes -6% on peace deal hopes

  • BTC ETFs add $1B up +6.4% for week while total market cap rises +0.6%

  • ZEC leads privacy coin surge with +37% gains

  • SOL stands out up +4%, BNB adds +2.7%, XRP rises +1.3%

• Middle East de-escalation and accelerating ETF inflows lift crypto for third straight day

Prediction Markets

• Bettors on Polymarket are predicting will GameStop acquire eBay?

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

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

• Coinbase cuts 14% of workforce in AI shift (BBG)

• Michael Saylor signals potential bitcoin sale (CD)

• Trump-linked bitcoin miner posts consecutive quarterly loss (BBG)

• Y Combinator holds crypto startup interviews in New York (TB)

• Job cuts sweep through crypto firms (BBG)

• Strategy posts $12.5B Q1 loss (DC)

• Iggy Azalea faces lawsuit over meme coin (DC)

• Crypto whale sues Coinbase over stolen funds (DC)

• DTCC seeks blockchains to tokenize corporate actions (CD)

• Eric Trump takes shot at JPMorgan rethinking bitcoin (CD)

• Ondo and JPMorgan settle tokenized treasuries on Ledger (DC)

• Grant Cardone says bitcoin-real estate could outperform REITs (CD)

• Hut 8 signs $9.8B data center lease (DC)

• State Street says firms want improved blockchain security (CD)

• Quantum threat could arrive as soon as 2030 (DC)

• Joseph Lubin says the entire economy will be tokenized (CD)

• Cybercrime might be the one job AI isn’t taking (DC)

• Cipher Digital loses $114M in Q1 (TB)

• Coinbase doubles down on Centrifuge investment (TB)

• Figure targets Fannie Mae and Freddie Mac in mortgage push (CD)

• Ledger integrates Hyperliquid perps trading (TB)

• MoneyGram supports crypto-to-cash withdrawals for Kraken (TB)

• Sequans dumps half its Bitcoin (DC)

• Solana upgrade could arrive next quarter (CD)

Venture Capital

• Andreessen Horowitz raises $2.2B for new crypto fund (BBG)

• Stablecoin platform OpenTrade raises $17M led by Mercury Fund and Notion Capital (TB)

Access the complete VC deal flow on Fundable.

M&A Announcements

• IREN acquires cloud software Mirantis in $625M deal (TB)

• Core Scientific acquires bitcoin miner Polaris in $421M deal (TB)

• GSR, a crypto firm, receives $150M equity stake from Standard Chartered (CD)

• Crypto operator Bullish acquires transfer agent Equiniti (DC)

• MoonPay acquires Solana execution layer firm DFlow (TB)

Launches

• Morgan Stanley pilots crypto trading on E*Trade (TB)

• Solana and Google launch stablecoin payments service (DC)

• State Street and Galaxy launch fund on Solana (TB)

• CME launches bitcoin volatility futures (DC)

• OKX launches OpenAI, SpaceX and Anthropic futures (DC)

• Securitize rolls out onchain stocks (TB)

• SoFi launches stablecoin on Solana (TB)

• Kraken launches crypto spot margin trading (TB)

Regulation

• White House sets deadline for crypto bill (TB)

• Bank groups say stablecoin rewards proposal falls short (BBG)

• CFTC cements software developer protections (TB)

• Colombian president transforms Caribbean into mining hub (TB)

• Samsung to build South Korea’s blockchain system (CT)

• Crypto PAC spends $500K in support of candidate (CT)

• SIX Group wins approval to offer crypto custody (CT)

Cybersecurity

• Kelp blames LayerZero for $292M hack (DC)

• Law enforcement freeze $41M connected to crypto ponzi (CT)

• Attackers drain $1.4M from DeFi protocol Ekubo (TB)

• Ripple shares North Korean threat intelligence with industry (DC)

Extra Reads

• As traditional finance deepens its footprint, issuers say ETFs are reshaping access, liquidity, and the global structure of crypto investing - Here’s how crypto ETFs are going mainstream

• Drift Protocol says most of the stolen funds linked to North Korean hackers remain traceable, and it has a plan to make victims whole - Here’s how Drift plans to repay users

Chart of the Day

B2B payments make up 60% of stablecoin volume

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.