Good Morning,

Here's a quick preview of today’s content: IMF warns AI will supercharge cyberattacks, Crypto PACs spend $7.2M to support candidates, JPMorgan says bitcoin is gaining over gold, Coinbase swings to a loss while revenue drops, Amazon teams with Coinbase to let AI pay with stablecoins, and so much more

Friday’s here - Let’s dive in.

Market Snapshot

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• Bitcoin dips below $80,000 as profit-taking rises

  • BTC ETFs post 5-week buying streak with 5-day inflow totaling $1.7B

  • Altcoins outperform BTC and ETH as traders rotate into higher-risk assets

  • Crypto market cap slips -1.3% and ETH drops -2.5%, with DOGE biggest loser falling -3.4%

• Crypto markets slide while S&P 500 notches fresh record on Iran peace hopes

Prediction Markets

• Bettors on Polymarket are predicting MicroStrategy sells Bitcoin by…?

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

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

• Coinbase swings to a loss while revenue drops (BBG)

• Binance says Treasury sent letter over monitorship (BBG)

• Wall Street firms post dozens of crypto jobs (BBG)

• Demise of crypto MAGA sponsor in Poland sparks uproar (BBG)

• Trump sons haven't abandoned World Liberty Financial (DC)

• Thief gets 78 months in prison over $250M crypto heist (DC)

• JPMorgan says bitcoin is gaining over gold (TB)

• DeFi platform TrustedVolumes hit by $6.7M exploit (DC)

• JPMorgan says Strategy's bitcoin buying could reach $30B (TB)

• CZ floats Binance.US revival (CD)

• Amazon teams with Coinbase to let AI pay with stablecoins (DC)

• Hyperliquid posts $165M loss for nine months (TB)

• VanEck sees Bitcoin reaching $1M within five years (CT)

• Tom Lee says BitMine may slow ethereum buys (DC)

• Crypto PACs spend $7.2M to support candidates (CT)

• Core Scientific slips after miner posts net loss (TB)

• Bitwise takes over Superstate’s $267M crypto fund (TB)

• SoFi’s crypto relaunch brings in $121.6M (CD)

• Dorsey's Block records $173M bitcoin remeasurement loss (TB)

• Aave expands listing standards after exploit (CD)

Venture Capital

• Kalshi secures $22B valuation in Coatue-led round (BBG)

• Global Settlement Network, a settlement startup, raises $11M led by Prevail Venture Capital (GN)

• OpenTrade, a stablecoin platform, raises $17M led by Mercury Fund and Notion Capital (TE)

Access the complete VC deal flow on Fundable.

M&A Announcements

• Kraken parent buys stablecoin firm Reap for $600M (BBG)

Launches

• 21Shares debuts ETF focused on Canton (DC)

• BNY expands crypto push in Abu Dhabi (TB)

• Bithumb eyes Vietnam expansion (TB)

Regulation

• South Korea confirms 22% crypto tax (CT)

• Germany weighs 2027 crypto tax overhaul (CT)

Cybersecurity

• IMF warns AI will supercharge cyberattacks (DC)

• Tydro keeps markets paused after suspected attack (TD)

• ZachXBT accuses projects of questionable price action (TB)

Extra Reads

• Stablecoins are entering a new phase of adoption, with corporations using them for treasury flows while AI agents begin using blockchain rails for payments - Here’s how AI agents and firms will lead the next stablecoin boom

Chart of the Day

Ethereum activity hits nearly 22M transactions

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.