Good Morning,

Here's a quick preview of today’s content: Former Australian rugby star arrested over crypto theft, US lawmakers to meet with Trump’s crypto czar, Iggy Azalea joins token launchpad as creative director, Biggest loser of NYC election Polymarket is down $1M, Franklin Templeton brings tokenized fund to Hong Kong, 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 +36.88%

• Crypto markets reel as ETF outflows deepen and shutdown drags on

  • Bitcoin fell to $103K, capping its worst 30-day performance vs the Nasdaq since mid-2024, with 30% of BTC supply now held at a loss

  • BTC and ETH ETFs saw $2.6B in combined weekly outflows amid rising fear

  • SOL funds extended inflows for a sixth straight day

  • Bitcoin’s hashprice hit a two-year low and short-term losses mounted on-chain

• US govt shutdown entered a record 36th day, delaying market structure legislation and adding to broader risk pressure

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

• Ripple teams with Mastercard and Gemini to settle credit card transactions (DC)

• YouTube says new policy doesn't ban all crypto content (DC)

• Miami mayor Francis Suarez claims he’s up +300% on his Bitcoin salary (CT)

• Iggy Azalea joins token launchpad as creative director (DC)

• Former Australian rugby star arrested over crypto theft (DC)

• Monad Foundation sets airdrop date for users (CD)

• US lawmakers to meet with Trump’s crypto czar (CT)

• Franklin Templeton brings tokenized USD fund to Hong Kong (CT)

• Circle policy allows users to buy weapons with USDC (CT)

• Google integrates Gemini AI into Maps for navigation (DC)

• Biggest loser of NYC election Polymarket is down $1M (CD)

• Robinhood’s crypto trading revenue soars +339% in Q3 (CD)

• Texas community fails plan to curb BTC miner noise (CT)

• Galaxy Digital research chief cuts price target for BTC to $120k (CD)

• Metaplanet borrows $100M against its BTC holdings to buy the dip (TB)

• Solana Company approves share buyback plan up to $100M (TB)

• Hyperliquid HIP-5 proposal leaves community split (TD)

• KuCoin and Cactus Custody partner to strengthen asset security (CD)

• NFT market cap tanks -46% in 30 days (CT)

Venture Capital

• Tharimmune, a startup building a blockchain for financial markets, raises $540M in funding led by DRW, Liberty City Ventures, and more (PS)

• Crypto fintech Ripple announces $500M strategic investment at a $40B valuation led by Citadel Securities, Fortress Investment Group, and Brevan Howard (DC)

• CMT Digital, a crypto venture firm, raises $136M to support a fourth fund, led by family offices, high-net worth individuals, and other institutions (TB)

• Bitcoin mining hardware maker Canaan Inc. secures $72M strategic equity investment from Galaxy Digital, Weiss Asset Management and Brevan Howard Digital (CT)

• Bitcoin treasury Future Holdings AG raises $35M to expand its BTC treasury model led by Fulgur Ventures, Nakamoto, and TOBAM (CD)

• Harmonic, a Solana infrastructure startup developing an open block-building system, raises $6M seed funding led by Paradigm (TB)

M&A Announcements

• Cryptography company Zama announces strategic acquisition of KKRT Labs to scale confidentiality on public blockchains (CD)

Launches

• Chainlink and Dinari bring S&P crypto stock index on-chain (TB)

• RedStone launches oracle to power markets on Hyperliquid (TB)

• Tangem launches Visa payments with Paera (CT)

• Harmonic launches HFT-style block building (CD)

• Moon Inc. shares available to US investors on OTCQX market (CS)

Regulation

• Experts say France's proposed crypto tax is 'economically unjust' (DC)

• Bank of England pledges to keep pace with US on stablecoin regulations (CT)

• Seven Ethereum teams form alliance to engage on crypto policy (TD)

• Canada begins march toward stablecoin regulations (CD)

• Chainlink and Apex test stablecoin compliance with Bermuda regulator (CD)

• Singapore financial regulator warns AI companies are overvalued (DC)

• UK ruling in Getty Images AI lawsuit leaves questions unanswered (CT)

Cybersecurity

• EU arrests nine in connection with $689M crypto scam network (DC)

• Hong Kong charges 16 in $205M JPEX crypto fraud probe (DC)

• DWF Labs exploited for $44M in 2022 hack linked to North Korea (TD)

• Balancer releases preliminary post-mortem report after $116M hack (CT)

Extra Reads

• Zohran Mamdani has won the New York City mayoral race, and the city’s crypto industry is waiting to see how his administration will affect business - Here’s what Mamdani’s win means for crypto in NYC

• The UK government is moving quickly toward a centralized digital ID system without the technological or legal safeguards to protect against authoritarianism or cybercrime - Here’s why Britain’s digital ID push is premature and dangerous

• Token burns are a key part of many projects’ tokenomics, as they permanently remove coins from circulation, but supply cuts alone don’t guarantee price gains - Here’s how token burns affect price, and when they don’t

Chart of the Day

Nearly 1/3 of all Bitcoin in circulation is now held at a loss

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.