Good Morning,

Here's a quick preview of today’s content: New Jersey man sentenced for paying fentanyl suppliers with Bitcoin, BlackRock launches Bitcoin Premium Income ETF, Oklahoma allows employees to be paid in Bitcoin, Hardware wallet Ledger eyes $4B IPO, Snowstorm delays Senate’s crypto bill markup, and so much more

Over the weekend we dropped our deep dive on Pyth Network. If you’d like to get caught up on the ‘Bloomberg of Web3’ check out the article here

Happy Tuesday - 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 +22.21%

• Crypto pressured as macro fear drives ETF exodus and gold steals the spotlight

  • BTC slid toward $87K as government shutdown fears and Fed uncertainty sap risk appetite

  • Crypto ETPs saw $1.7B in weekly outflows, the largest since November, while liquidations spiked to $750M during the weekend selloff

  • Broader market action stayed muted, with most top-10 assets flat to lower; XRP showed modest relative strength

• Gold surged past $5,100, eclipsing crypto in the macro trade as retail rotated into traditional safe havens; silver also hovered near record levels

Prediction Markets

• Bettors on Polymarket are predicting who will Trump nominate as Fed Chair?

• Trade the Fed chair succession on Polymarket

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

• FBI arrests ex-Olympian running crypto cocaine empire (TB)

• Binance founder CZ reflects on prison - see the interview here

• Hardware wallet Ledger eyes $4B IPO (DC)

• Son of seized-crypto exec behind $40M government theft (TB)

• Nasdaq removes position limits on ETF options (BM)

• Snowstorm delays Senate’s crypto bill markup (TB)

• Binance brings back tokenized stock trading (CD)

• Strategy buys another 2,932 BTC (TB)

• Peter Schiff says Bitcoin won’t become world’s reserve currency (BM)

• Bitcoin miners slow as winter storm strains power grid (TB)

• GameStop transfers entire $420M BTC stash (CD)

• SEC dismisses Gemini Earn lawsuit (TB)

• Farcaster repays $180M to investors (DC)

• Coinbase lets users borrow $1M against staked ether (CD)

• BitMine makes biggest ether purchase of 2026 (CD)

• BitGo plunges below IPO price (DC)

• Polymarket signs licensing deal with MLS (TB)

• Cathie Wood’s ARK adds Coinbase, Circle, Bullish (CT)

• Ethereum Foundation forms post-quantum team (DC)

• Coinbase says banks view crypto as ‘existential’ threat (CD)

• Metaplanet sees $680M in unrealized losses (TB)

• US dominates Bitcoin hiring in 2025 (BM)

• Hyperliquid's HIP-3 hits ATH of $790M (TB)

• Ripple partners with Saudi bank on blockchain payments (CT)

• MoonPay inks 8-figure deal with X Games (DC)

• Ethereum treasury buys jet engines via aerospace subsidiary (CD)

• Nifty Gateway shuts down after leading NFT boom (TB)

• Entropy startup closes and returns capital to investors (TB)

Venture Capital

• Blockchain firm Zerohash in talks to raise $250M at $1.5B valuation (CD)

• Zebedee, a Lightning-powered gaming payments company, raises $40M Series C round led by Blockstream (PRN)

• Mutuum Finance, a crypto lending protocol, raises over $19.9M through a multi-phase token presale (GN)

• Agentic crypto-wallet provider Warden raises $4M strategic round from 0G Labs, Messari, Venice.AI and other partners (DC)

• Web3 platform Shards Protocol raises $2M funding round backed by Animoca Brands, Kyber Ventures, and Yield Guild Games (MSN)

Access the complete VC deal flow on Fundable.

M&A Announcements

• Revolut abandons merger plans to pursue standalone license (TB)

• Republic Europe offers investors indirect stake in Kraken ahead of IPO (TB)

• South Korea's Coinone sells major stakeholder shares, in talks with overseas crypto exchanges (TB)

Launches

• BlackRock launches Bitcoin Premium Income ETF (TB)

• Grayscale files for BNB ETF on Nasdaq (TB)

• UBS plans crypto trading for clients (DC)

• Cathie Wood’s ARK files for two crypto ETFs (CD)

• First Avalanche ETF hits US markets (TB)

• CertiK eyes IPO at $2B valuation (TB)

• Kraken rolls out 'DeFi Earn' (TB)

• Tristan Thompson launches prediction market (CD)

• Coinbase integrates Solana's Jupiter (BL)

• Bitwise debuts onchain vault via Morpho (TB)

• FalconX, Monarq, and OpenEden partner to launch PRISM (CS)

• Clapp launches crypto credit line (CD)

• PinPet launches DEX mainnet (CD)

Regulation

• Oklahoma allows employees to be paid in Bitcoin (BM)

• Japan approves its first crypto ETFs (TB)

• Sen. Warren rebuffed on delay of World Liberty bank charter (CD)

• Kansas proposes crypto reserve fund (DC)

• UK banks block 40% of payments to crypto platforms (TB)

• Netherlands risks capital flight with unrealized crypto tax (CT)

• Colombia pension fund offers Bitcoin exposure (CT)

• Binance files for MiCA in Greece (DC)

• Rhode Island reintroduces bill to study blockchain (BM)

Cybersecurity

• New Jersey man sentenced for paying fentanyl suppliers with Bitcoin (DC)

• 'Professional money launderer' ordered to pay $7.6M (DC)

• Matcha Meta sees $16.8M drained (TB)

• Crypto users affected in massive 149M data dump (CT)

• Prosecutors drop OpenSea NFT fraud case (CT)

• French authorities probe data breach on crypto tax platform (CT)

• Russia blacklists WhiteBIT (DC)

• Paradex refunds $650K to users after bug (CT)

Extra Reads

• Wealthy investors who hold much of their fortune in crypto are increasingly turning to DeFi platforms to secure flexible credit lines without selling their crypto - Here’s how the ultra-wealthy are using bitcoin to fund their yacht upgrades and Cannes trips

• USD‑pegged stablecoins account for nearly the entire market, driven by liquidity and global dollar dominance, while non-dollar experiments struggle to scale - Can stablecoins break free from the US dollar?

Chart of the Day

Crypto social discussions hit 1-year highs

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.