Good Morning,

Here's a quick preview of today’s content: Metamask parent seeks IPO, CZ weighs lawsuit against US senator over money laundering claim, Former FTX US president launches exchange for crypto perps, Strategy has 70% chance of joining S&P 500 by year-end, Senators blast Trump admin for legitimizing 'dangerous' crypto 401ks, 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 +49.48%

• Crypto markets turned sharply lower after the Feds rate cut

  • The Fed cut rates by 25 bps to a 3.75%-4.0% range, ending QT - an expected move that left crypto markets rattled

  • Bitcoin briefly spiked to $111k before settling with -5% losses over the past 24 hours

  • Options expiry looms with $14.4B in BTC and $2.6B in ETH open interest, while CME-listed XRP and SOL futures hit record highs

• Traders brace for heightened volatility as the Fed decision coincides with major tech earnings

Market Predictions

• Bettors on Kalshi are predicting GDP growth in 2025?

• Trade your predictions on a range of events, only on Kalshi

• Sign up with code LIT and get a $20 bonus when you trade $100

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

• Trump’s crypto pardons raise ethics and corruption concerns (CT)

• MetaMask parent Consensys pursues IPO with JPMorgan and Goldman Sachs (BL)

• PayPal signs deal to integrate its wallet into ChatGPT (BL)

• BNB meme coin tied to statue of CZ rises after he says 'don't buy' (DC)

• Michael Saylor predicts Bitcoin will hit $150k by year-end (BM)

• World Liberty Financial to distribute 8.4M WLFI for early USD1 adopters (TB)

• DBS and Goldman Sachs execute first OTC interbank crypto options trade (CD)

• Investment bank Mizuho says Visa is becoming the ‘stablecoin of stablecoins’ (CD)

• Strategy has 70% chance of joining S&P 500 by year-end (CT)

• Bitwise Solana ETF crosses $70M in second day volume (TB)

• Kraken’s parent company, Payward, tops the list of crypto industry spenders (DC)

• Ethereum ICO participant moves $6M in ETH after 8-year dormancy (TB)

• Tom Lee's BitMine adds $113M worth of ETH to treasury (TB)

• Solana Company adds $20M in SOL (TB)

• Binance Wallet partners with Bubblemaps to fight insider crypto trading (CT)

• Morpho gets $775M of pre-deposits from Stable (TD)

• BitGo expands institutional custody to Canton Network’s native token (CT)

• Brazilian solar firm Thopen considers Bitcoin mining to absorb surplus power (CT)

• Zcash shielded supply hits 4.5M ZEC (TB)

Venture Capital

• Bitcoin miner TeraWulf aims to raise $575M to fund its Google-backed data center (DC)

• Ethereum layer-2 project MegaETH pulls in $450M during a token sale that draws 9x its fundraising target (CD)

• Crypto credit firm, Accountable, raises $7.5M in a round led by Pantera Capital (BW)

M&A Announcements

• Mastercard in to acquire crypto and stablecoin custody startup ZeroHash in a deal valued between $1.5B and $2B (BL)

• Trump meme coin issuer, Fight Fight Fight LLC, in talks to acquire US operations of crowdfunding site Republic.com (BBG)

• Microsoft values its OpenAI stake at $135B (DC)

• Jefferies expects Core Scientific shareholders to reject the CoreWeave merger (CD)

• Animoca Brands, a Web3 game and investment firm, acquires an undisclosed amount of DEX Aerodrome’s AERO token (TD)

Launches

• Former FTX US president launches exchange to bring crypto perps to traditional assets (TB)

• ECB targets 2029 launch for digital euro (BBG)

• Telegram unveils decentralized AI network built on TON (CT)

• MoviePass debuts crypto-based predictions for box office performances (DC)

• Grayscale debuts Solana staking ETF (TB)

• 21Shares files for Hyperliquid ETF (TB)

• Securitize rolls out tokenized credit fund with BNY (CD)

• Ondo Global Markets expands tokenized securities platform to BNB Chain (TB)

• South Korean custodian BDACS issues a won-backed stablecoin (CT)

• Swiss crypto firm Taurus expands with NY office (CD)

• Fedi unveils multi-sig guardians for Bitcoin e-cash mints (BM)

• Stable to launch Phase 2 of pre-deposit campaign (TB)

• Acre launches V2 platform enabling holders to earn APY (CD)

• Credit Blockchain launches AI cloud mining platform (CD)

• CoinShares launches Toncoin ETP (CT)

• Whale.io confirms airdrop for NFT holders (CD)

Regulation

• Warren and Sanders blast Trump admin for legitimizing 'dangerous' crypto 401ks (DC)

• CZ weighs lawsuit against US senator over money laundering claim (CT)

• Germany proposes national Bitcoin reserve (BM)

• Australia classifies stablecoins and wrapped tokens as financial products (TB)

• Solana event shortened amid crypto crackdown in China (CT)

• Ironlight wins FINRA approval for first regulated ATS with on-chain settlement (CD)

• Kaia chair says South Korea’s stablecoin approach lacks logic (CT)

Cybersecurity

• Massachusetts police warn Bitcoin ATMs used for 'missed jury duty' scam (DC)

Extra Reads

• Crypto markets that trade 24/7 demand automated wallet protections, as passive vaults leave people exposed to overnight liquidations - Here’s why DeFi needs smarter wallets to prevent overnight losses

• Perpetual futures are crypto’s hottest trading strategy, with traders flocking to these high-risk bets in record numbers, but as access gets easier, analysts warn they present a “double-edged sword” - Crypto perps are easy to access, is that a good thing?

Chart of the Day

Bitcoin open interest hits an all-time high of $94B

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.