Good Morning,

Here's a quick preview of today’s content: Malaysia seizes over 75,000 crypto mining rigs, Senate urged to preserve blockchain dev protections, Pump.fun adds trading for Robinhood Chain, Citadel abandons multi-year crypto lawsuit, Adam Back's bitcoin treasury scraps SPAC merger, and so much more

Happy Thursday - Let’s dive in.

Market Snapshot

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• Bitcoin slides to $62,000 as Trump declares Iran ceasefire 'over' and oil surges on Hormuz blockade threats

  • BTC ETFs 'turning a corner' after record bleed hits $8B, as ETH flashes worst weekly signal in years

  • Tokenized stock transfers surge +105% in a month to $8.4B

• Crypto and stocks tumble after ceasefire collapse sends oil to $75 and bond yields surging

Prediction Markets

• Bettors on Polymarket are predicting Ethereum price in July?

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

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

• CFTC chair says Clarity Act is ‘so close’ (BM)

• Ripple inks multi-year deal with Kansas Jayhawks (DC)

• Bankers file report over Farage's £5M gift (DC)

• Block pays $45M on false security promises (TB)

• Citadel abandons multi-year crypto lawsuit (CD)

• Trader makes $2M on Robinhood meme coin (DC)

• Polymarket bets on marketing blitz to win back trust (CD)

• Adam Back's bitcoin treasury scraps SPAC merger (CD)

• SEC adds crypto rules to agenda (TD)

• Tom Lee's Bitmine adds $70M of ETH (TB)

• StarkWare suggests 4% annual Bitcoin inflation (CT)

• Pump.fun adds trading for Robinhood Chain (TD)

• Dinari and tZERO build platform for tokenized equities (CD)

• Cardano founding entity steps down after exploit (TB)

• Toss and Optimism conduct Korean stablecoin POC (CT)

• DeFi dashboard Zapper shuts down (TB)

Venture Capital

• Crypto venture firm Paradigm raises $1.2B backed by Nous Research, Zipline, True Anomaly, Hyperliquid, and Kalshi (DC)

• EigenLayer, a restaking protocol, raises $70M led by Andreessen Horowitz (BG)

Access the complete VC deal flow on Fundable.

Launches

• BNB plans new Layer-1 for AI agents (DC)

• Binance Wallet adds Plume's yield vault (TB)

Regulation

• Senate urged to preserve blockchain dev protections (TB)

• Judge denies Kalshi's bid to block NY gambling law (TB)

• European Commission looks to expand MiCA (TB)

• India seeks to ban crypto exposure (TB)

Cybersecurity

• Malaysia seizes over 75,000 crypto mining rigs (DC)

• AscendEX halts operations and freezes withdrawals (TD)

Extra Reads

• The tokenized RWA market has nearly tripled in a year to over $32B, and with the DTCC set to pilot tokenized securities trading, the momentum is only accelerating - Here's what's actually been put onchain

• XRP Ledger's new software has cleared the threshold it needs to activate, but it still trails the version it's replacing across the wider network, and its security fixes lag further behind - Here's where the XRP Ledger's new upgrade stands

Chart of the Day

40% of altcoins trade around their all-time low

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.