Good Morning,

Here's a quick preview of today’s content: Five plead guilty over $7.9M dark web crypto drug operation, Crypto market structure bill gains bipartisan momentum, Fidelity adds support for Solana, Zelle to use stablecoins for international transactions, CZ and Peter Schiff agree to Bitcoin vs gold debate, and so much more

Happy Monday - 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 +42.70%

• Crypto markets rally ahead of major macro week

  • BTC rises +2% as inflation cools to 3% in September, slightly below forecasts

  • Over $31B in BTC options set to expire on Halloween, while illiquid supply declines as 62K BTC moves out of long-term wallets

  • Spot BTC ETFs attract $446M in weekly inflows, while Spot ETH ETFs see a second straight week of outflows amid cooling demand

  • Tokenized gold’s market cap touched $3.86B amid muted volatility

• Traders brace for key Fed rate decisions, alongside earnings from the Mag 7, as total crypto mcap holds around $3.88T

Market Predictions

• Bettors on Kalshi are predicting who will Trump meet with this year?

• 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}}

• President Trump pardons Binance founder Changpeng Zhao (BW)

• JPMorgan to let clients use Bitcoin and Ether as collateral for loans (DC)

• Zelle to use stablecoins for international transactions (DC)

• Ripple, Coinbase, Tether, and Gemini donate to Trump's new White House ballroom (TB)

• Brian Armstrong says Coinbase wants to bring the entire startup lifecycle on-chain (CT)

• Video game CS2 update wipes $2B from its $5.8B NFT skin market (CT)

• Bitcoin skeptic Peter Schiff pitches on-chain gold tokenization app (TB)

• Alleged 'Trump insider whale' closes $200M Bitcoin short (DC)

• Reddit sues Perplexity alleging ‘industrial-scale’ data theft (DC)

• JPMorgan says Coinbase’s Base token could be worth $34B (TB)

• Statue of a shark named “Bitcoinius Maximus” is unveiled (DC)

• Ark Invest buys $21M worth of Robinhood shares (TB)

• Nevada issues cease-and-desist to crypto’s Fortress Trust (BBG)

• Data shows Australians are the world’s most crypto-curious investors (CT)

• Elon Musk's SpaceX moves $133M worth of Bitcoin (DC)

• CZ and Peter Schiff agree to Bitcoin vs gold debate (BM)

• Wallets tied to Melania Trump meme coin airdrop $1.2M in Meteora tokens (DC)

• REX-Osprey XRP ETF surpasses $100M AUM (CD)

• On-chain dollars hit 2.3% of global payments (CS)

• Jupiter reports $45M in Q3 revenues (BW)

• Bitcoin miner debt increases from $2.1B to $12.7B (CT)

• Miner wallet containing 4,000 BTC breaks 14-year dormancy (TB)

• Swiss crypto bank AMINA to build 'bridge' for tokenization (CD)

Venture Capital

• Polymarket looks to raise additional funding at a valuation up to $15B (TB)

• VC firm a16z seeks to raise $10B to invest in AI and defense industries (CT)

• Hyperliquid Strategies, a DAT firm focused on HYPE, submits an S-1 with the SEC to raise $1B (TB)

• Commercial bank, Pave Bank, raises $39M in a Series A funding round led by Accel, with participation from Tether Investments, Wintermute, and others (TB)

• Biodefense startup Valthos launches with $30M in funding backed by ChatGPT creator OpenAI (DC)

• CipherOwl, a startup building AI-based on-chain compliance for financial institutions, raises $15M in seed funding led by General Catalyst and Flourish Ventures (PS)

• Cybrid, a platform providing compliant stablecoin and fiat payment infrastructure, raises $10M Series A led by BDC Capital (PS)

M&A Announcements

• Biotech firm Sonnet BioTherapeutics undergoes an $888M reverse merger with private entity Rorschach I LLC to create Hyperliquid Strategies Inc. (DC)

• Crypto infrastructure firm Fireblocks purchases crypto authentication startup Dynamic (TB)

• Aave Labs, a decentralized crypto lending protocol, purchases Stable Finance, the team behind a savings app (TB)

• Crypto social platform Farcaster acquires Clanker AI token bot (BL)

• Ripple completes its purchase of prime broker Hidden Road, rebrands as Ripple Prime (CD)

• Memecoin launchpad Pump.fun acquires Padre trading terminal to strengthen token liquidity (CT)

Launches

• Fidelity Crypto adds support for Solana (TB)

• Polymarket confirms POLY token and airdrop launch (BW)

• Tether to launch US-focused stablecoin in December (CD)

• Kyrgyzstan launches stablecoin on BNB (TB)

• Ferrari launches token letting fans bid on Le Mans-winning car (CT)

• Ledger releases crypto hardware wallet, the Nano Gen5 (DC)

• Rumble adds Bitcoin tipping for creators (DC)

• Tether launches decentralized AI app (DC)

• MultiBank and UFC fighter Khabib launch venture to build tokenized sports ecosystem (CD)

• Crypto exchange KuCoin launches mining pool service (DC)

• Trezor unveils 'quantum-ready' Safe 7 hardware wallet (DC)

Regulation

• Crypto market structure bill gains bipartisan momentum (BM)

• Trump to pick Michael Selig to lead CFTC (BW)

• Rep. Maxine Waters blasts Trump pardon of Binance founder (DC)

• EU sanctions Russian A7A5 stablecoin and crypto exchanges (CT)

• Countries across Africa approve new crypto laws (CT)

• Bank of England probes data-mining lending strategies fueling AI bets (CT)

• Crypto.com files for National Bank Charter (DC)

• Revolut secures MiCA license in Cyprus (DC)

• Swiss Bitcoin app Relai secures MiCA license in France (BM)

• Blockchain.com obtains MiCA license in Europe (CT)

Cybersecurity

• 83 arrests in operation hitting crypto terrorist financing in Africa (DC)

• North Korea steals $2.84B in crypto since January 2024 (DC)

• Five plead guilty over $7.9M dark web crypto drug operation (DC)

• DEX Bunni shuts down following $8.4M flash loan exploit (DC)

• One in three Americans face crypto fraud, with 30% exposed to ponzi schemes (FM)

• WazirX resumes trading more than a year after $234M hack (DC)

• Woman warned by Canadian exchange not to transfer crypto gets scammed (DC)

• MEXC’s AI model helps cut criminal success by a third (CD)

• BingX exploiter launders funds via ClockSwap's P2P (CD)

Extra Reads

• Latin Americans are using stablecoins and crypto to combat inflation and access banking services where traditional systems have failed - Here’s why Latin America depends on stablecoins

• DeFi trading volumes hit record ratios against CEXs as matured infrastructure and regulatory clarity shift power to transparent, code-driven platforms - Here’s why the next era of crypto belongs to decentralized markets

Chart of the Day

Monthly perp volume hits over $1T in October for the first time ever

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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.