Good Morning,

Here's a quick preview of today’s content: New York lawmaker proposes 'AI dividend' stimmy, DeFi losses top $600M as KelpDAO exploit drags TVL, Lydian launches Visa Platinum crypto card, Coinbase lets UK users borrow against their crypto, Ex-Goldman quant MD joins DRW from crypto investment firm, 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 +47.43%

• Bitcoin temporarily retakes $76,500 as global crypto funds see $1.4B in weekly inflows, second-strongest week since January

  • DeFi suffers $14B exodus after hack as RAVE token crashes, shedding $6.6B in value

  • BTC erases weekend gains as US-Iran ceasefire faces pressure, with ETH and SOL sliding

• Crypto adoption rebounds with Bitcoin still dominating, as stocks ignore war threat and oil drops

Prediction Markets

• Bettors on Polymarket are predicting English Premier League Winner?

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

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

• Strategy surpasses BlackRock with largest Bitcoin buy since 2024 (BBG)

• Coinbase and Bybit work on tokenization of US stocks (CD)

• Crypto hack sparks $9B outflows from top DeFi lender (BBG)

• Ex-Goldman quant MD joins DRW from crypto investment firm (BBG)

• BIS warns dollar stablecoins could strain banks and policy (CT)

• BitMine nears milestone with largest ethereum buy this year (DC)

• New York lawmaker proposes 'AI dividend' stimmy (DC)

• Coinbase lets UK users borrow against their crypto (DC)

• Alcoa nears sale of New York smelter to NYDIG (BM)

• Coinbase tests AI agents modeled on former execs (DC)

• Grayscale's Hyperliquid ETF drops Coinbase as custodian (TB)

• Ripple races to make XRP Ledger quantum-ready (TB)

• Capital B expands treasury and buys 12 BTC (BM)

• UK gas firm downplays bitcoin mining plans after pivot (TB)

Venture Capital

• Polymarket seeks $400M raise at $15B valuation (TB)

• Paxos Labs, a crypto utility platform, raises a $12M led by Blockchain Capital with participation from Robot Ventures, Maelstrom, and Uniswap (PS)

• Tether backs UAE tokenization firm KAIO in $8M funding round (CD)

• Bybit leads an $8M funding round for crypto exchange Hata (CT)

Access the complete VC deal flow on Fundable.

M&A Announcements

• Tether discloses 2M-share stake in bitcoin mining firm Antalpha (TB)

Launches

• Coinbase-incubated x402 unveils app-store for bots (TB)

• Lydian launches Visa Platinum crypto card (BM)

• Hardware wallet Tangem rolls out retail payments service (TD)

Regulation

• Three Japanese institutions bring government bonds on-chain (TD)

Cybersecurity

• DeFi losses top $600M as KelpDAO exploit drags TVL (TB)

• Blockchain sleuth accuses RaveDAO of knowing who manipulated its token (CD)

Extra Reads

• Crypto's AI evolution is moving past infrastructure and into the agents themselves, giving rise to a new class of tokens tied directly to agents rather than the networks that power them - Here's what AI agent tokens are

• With bitcoin price above max pain and heavy positioning at $75K, traders face a potential squeeze or pullback into "max pain" expiry - Here's how bitcoin's $7.9B options expiry impacts prices

Chart of the Day

Stablecoins continue to gain traction in a weak market

Meme Dump

Pls send us crypto memes to be featured in the newsletter 🤝

🐦 Follow Us: Visit our X account for daily updates on all things web3, DeFi, & crypto.

💰 Gannon’s Crypto Portfolio: Trade alongside Gannon’s crypto on Autopilot

💵 Litquidity Ventures: Accredited investors & qualified purchasers within the Litquidity community can gain access to alternative investments such as venture, late-stage growth, and private equity through Litquidity Ventures. Interested? Fill out this form.

☎️ Book a call with Lit: Want to pick Litquidity’s brain on business advice, insights, or just chat to say what’s up? Buy his time here.

📧 Launch your own newsletter: Have great content ideas and looking to launch your own publication? We highly recommend Beehiiv to get started.

*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.