Good Morning,

Here's a quick preview of today’s content: Crypto bill draft grants altcoins same legal status as Bitcoin, Armed assailants attack crypto exec and his family in France, New Bitcoin mining facility planned for Milwaukee, JPMorgan CFO calls stablecoin yield payout dangerous, and so much more

Happy Wednesday - Let’s dive in.

Market Snapshot

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• Bitcoin surges on steady inflation as breakout momentum builds

  • BTC briefly topped $96K, hitting a two-month high as CPI came in as expected, boosting rate-cut optimism

  • Softer inflation triggered short covering and a risk-on rebound, lifting total crypto market cap to $3.35T (+5%)

  • Altcoins lagged, with traders fading rallies in ETH, SOL, and XRP, while privacy coins surged

• Despite the rally, $40B rotated out of higher-risk fringe altcoins

Prediction Markets

• Bettors on Polymarket are predicting will China unban Bitcoin by 2027?

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

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

• Former NYC Mayor Eric Adams’ NYC memecoin crashes after debut sparking outcry of a rug pull (BBG)

• SEC chair says crypto bill could reach Trump’s desk this year (CT)

• Polymarket CEO highlights mainstream moment at Golden Globes (TB)

• JPMorgan CFO calls stablecoin yield payout dangerous (CD)

• Warren seeks delay to World Liberty bank until Trump cuts ties (CT)

• NYC Mayor Mamdani says he holds no crypto (CT)

• Bitwise CIO calls Bitcoin 401(k) restrictions ‘ridiculous’ (CT)

• BlackRock ETF moves $300M to Coinbase Prime (CD)

• Pentagon lays out AI strategy for space missions (DC)

• Solana Institute urges SEC to exempt DeFi devs from rules (CT)

• New Bitcoin mining facility planned for Milwaukee (CD)

• Bank of Italy sends warning on Ethereum's role in system (CD)

• Bitdeer overtakes MARA as largest Bitcoin miner (TB)

• Franklin Templeton updates money market funds for blockchain (TB)

• Grayscale adds DeFi and consumer tokens to consideration list (TB)

• Ingenico taps WalletConnect to support stablecoin payments (CT)

• Ethena Labs looks to boost USDe Safe holdings (TB)

• Paxos’ asset base grows +450% (TD)

• ClearBank taps Taurus to power stablecoin services (CD)

• BNB Chain targets one second finality with hard fork (CT)

• ZKsync lists real-world infrastructure as 2026 goal (TB)

• Euler CEO steps down as protocol refocuses (TD)

Venture Capital

• YZi Labs invests 'multi-8-figure' in DeFi platform Genius Trading, with CZ joining as advisor (TB)

Access the complete VC deal flow on Fundable.

M&A Announcements

• Crypto data platform CoinGecko weighs sale for $500M (CD)

• Polygon Labs acquires Coinme, a payments platform, and Sequence, an infrastructure firm, for a combined $250M (DC)

• Semler Scientific, a healthcare firm, approves deal to be acquired by Strive Inc (DC)

Launches

• 21Shares lists ETP combining Bitcoin and gold on LSE (TB)

• Crypto-friendly Old Glory Bank plans Nasdaq listing (CT)

• Bitpanda gears up for Frankfurt IPO (BBG)

• Zama launches token sale at $55M floor (TB)

• ETHGas launches token to govern Ethereum blockspace (TB)

• Crypto fundraising platform BlueVault launches (DC)

• Fors launches beta to aggregate prediction markets (CD)

• Guavy launches AI-native crypto API (CD)

Regulation

• Updated market structure bill limits stablecoin rewards (TB)

• Crypto bill draft grants altcoins same legal status as Bitcoin (DC)

• Senate Ag delays crypto market structure bill markup (CT)

• Bipartisan bill seeks clarity on crypto dev liability (DC)

• Ukraine blocks Polymarket in gambling crackdown (CD)

• Kalshi blocks Tennessee order targeting sports contracts (TB)

• Nigeria ties crypto oversight to tax IDs (CT)

• Bank of Thailand monitors USDT ‘grey money’ trades (TB)

Cybersecurity

• Armed assailants attack crypto exec and his family in France (DC)

• $11M XRP thief countersues widow of artist George Jones (DC)

• Feds seek forfeiture of $200K in USDT tied to Tinder scam (DC)

• Yield suffers $3.7M loss due to stablecoin swap (TD)

Extra Reads

• The crypto industry contends that Wall Street giants stood behind community banks to undercut digital competitors before they could get a major legislative win - Here’s how a battle with bankers tarnished crypto's market structure bill

• The NFT Paris cancellation offers insight into sponsorship pressure, lower volumes and how the NFT market is reshaping in 2026 - What the NFT Paris cancellation says about the NFT market

Chart of the Day

Stablecoin issuers made $5B in 2025 by building on Ethereum

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.