Good Morning,

Here's a quick preview of today’s content: Florida man pleads guilty over $1.8B crypto fraud, House and Senate strike deal on CBDC ban, EarnOS launches anti-AI slop app, Mexican billionaire says bitcoin is better than real estate, Senators introduce resolution opposing SBF pardon, 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 (7/3/25), Gannon’s Crypto Portfolio is up +11.5% Gannon’s AI Fund is up +57.3%

• Bitcoin slides below $65,000 as Fed holds rates in Warsh's first FOMC meeting

  • UNI surges +22% and altcoins rip while BTC stalls

  • Altcoin selling tops $266B as capital rotates out of crypto

  • BTC’s June downturn leaves $8.6B in options out of the money

  • 79% of BTC supply now locked by long-term holders

• Fed signals possible rate hikes as Warsh opens 'new chapter' at central bank

Prediction Markets

• Bettors on Polymarket are predicting how many Fed cuts in 2026?

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

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

• SEC proposal to scrap old stock rule benefits crypto (BBG)

• Milei’s cabinet chief claims to be crypto investor (BBG)

• Senators introduce resolution opposing SBF pardon (DC)

• Illinois begins taxing crypto transactions (DC)

• House and Senate strike deal on CBDC ban (DC)

• Gaming industry urges Senate to ban sports prediction markets (TB)

• Fidelity joins Wall Street's race to manage stablecoin reserves (CD)

• Mexican billionaire says bitcoin is better than real estate (CD)

• Moody’s rolls out credit ratings on Solana (CD)

• Psychologists say patients are bringing AI into sessions (DC)

• FIFA wants Avalanche to help curb World Cup ticket scalping (CD)

• Kanoo member moves $6T trade market onto blockchain (CD)

• Blockchain.com deepens onchain stock offerings (CT)

• CoinMENA and Standard Chartered partner on UAE payments (CT)

• Bhutan sends $34.5M in bitcoin to Binance (TB)

• Crypto perps exchange Satori shuts down (DC)

• Matter Labs cuts staff in privacy platform pivot (TD)

Venture Capital

• Stablecoin firm Trace Finance raises $32M backed by CoinFund and Coinbase (DC)

• Anzi, a Spanish fintech, opens $25M financing backed by Tritemius (CD)

• Power.Win, a crypto gaming platform, raises $5M led by Polychain Capital (FM)

Access the complete VC deal flow on Fundable.

M&A Announcements

• Data company Inveniam Capital Partners acquires blockchain Mantra (CT)

Launches

• EarnOS launches anti-AI slop app (TB)

• Zama, Morpho and Steakhouse launch DeFi yield vault (TB)

Regulation

• Michigan rules sports prediction markets not under CFTC (DC)

• Crypto PAC’s pick wins Alabama primary (TB)

• Australia backs regulator in crypto yield case (TB)

• Oman launches national bitcoin mining pool (BM)

Cybersecurity

• Florida man pleads guilty over $1.8B crypto fraud (DC)

Extra Reads

• For years, Coinbase's fortunes rose and fell with bitcoin's, now the exchange is pushing into derivatives, tokenized stocks, and AI to build revenue streams that don't depend on the next bull run - Here's how Coinbase plans to survive the crypto downturn

Chart of the Day

Altcoin selling pressure reaches its most extreme level since 2020

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.