Good Morning,

Here's a quick preview of today’s content: Gemini gets set for huge IPO, Norway keeps buying Bitcoin, Citigroup weighs stablecoins, Circle and Stripe are building their proprietary blockchains, Brazilian Mom held for Bitcoin ransom, Coinbase seals Deribit acquisition, and so much more

Happy Monday - Let’s dive in

Market Snapshot

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• Bitcoin hovered near $118,348 on Sunday, up +0.39% in 24 hours, as two analysts outlined paths that could test traders’ nerves: a dip toward $108K–$112K or a drawn-out range with room for altcoins

  • Lark Davis argues that if bitcoin continues to slide, the most likely landing zone is $108,000–$112,000

  • That range served as a ceiling earlier this year when Bitcoin’s rally stalled, and in market psychology, levels that once blocked price often flip into support when revisited

  • Michaël van de Poppe said BTC could stay rangebound after rejecting resistance

Market Predictions

• Bettors on Kalshi are predicting if Bank of America will launch a stablecoin this year

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

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

• Winklevoss twins’ crypto company Gemini files for IPO (TC)

• Brevan Howard, Goldman Sachs and Harvard lead billions in Bitcoin ETF buying spree (CD)

• Crypto exchange OKX permanently burns 279M OKB tokens worth $26B (TB)

• Gemini hires Goldmans, Citi, Morgan Stanley and Cantor as lead Bookrunners for its IPO (CD)

• Winklevoss twins’ crypto exchange launches Gemini Wallet (BW)

• ETH unstaking queue hits a record $3.8B, with a 15-day wait led by Lido, EthFi, and Coinbase (CT)

• Google searches for "crypto" reach a yearly ATH (CT)

• Home Bitcoin mining is going to heat Europe (BM)

• Stripe and Circle are planning to launch their own L1 chains (BW)

• Moonbirds NFTs are soaring again (DC)

• Wells Fargo lifts Bitcoin ETF holdings to $160M (TD)

• Kraken pauses Monero deposits following 51% attack (CT)

• Citigroup weighs stablecoin and crypto ETF custody services (TD)

• Solana treasury DeFi Development Corp's stockpile grows to $263M in SOL (TB)

• Uniswap deploys Flashblocks on unichain for 200ms trade locks (TD)

• Ethereum ICO wallet moves $1.5M in ETH, originally purchased for $104 (TB)

• TeraWulf secures $3.7B AI hosting deal backed by Google (CT)

Venture Capital

• Galaxy Digital raised $1.4B via debt financing to retrofit its Helios Bitcoin mining facility for its long-term deal with AI company CoreWeave (TB)

M&A Announcements

• Brevan Howard Asset Management disclosed a $2.3B stake in BlackRock’s IBIT, making the London-based macro hedge fund the largest institutional holder of the ETF(TD)

• Coinbase seals Deribit acquisition in 6th deal of 2025 (CT)

• Norway’s sovereign wealth fund boosted Bitcoin exposure by 83% in Q2, Standard Chartered says (TB)

• Bailey’s Nakamoto clears merger, gaining capacity for $740M Bitcoin buy (TD)

Launches

• Deribit to launch linear Bitcoin and ether options settled in USDC (TB)

• Thailand plans launch of a crypto payment sandbox for tourists (CT)

• Wellgistics Health launched an XRP Ledger payment program serving thousands of pharmacies and manufacturers (CD)

• Bitpanda launches in UK, sets two-year growth target (CT)

Regulation

• New York State Assembly member Phil Steck proposed a 0.2% excise tax on cryptocurrency transactions (DC)

• Hong Kong regulator tightens custody standards for crypto exchanges amid rising global risks (TB)

• Japan to approve first yen-backed stablecoins this fall (CT)

Cybersecurity

• Czech police arrest darknet founder in $45M Bitcoin donation case (CT)

• Brazilian Mom held for Bitcoin ransom after alleged kidnappers stalk crypto-trading son (TB)

• BtcTurk suspends deposits after suspected $48M multi-chain hack (TD)

• Illegal crypto miners in Tajikistan caused $3.52M in damages in the first half of 2025, the country’s attorney general said (DC)

Extra Reads

• Publicly traded firms are now stacking Ethereum, pulling in billions of dollars of ETH - The 7 Largest Publicly Traded Ethereum Treasury Firms
  

• Circle and Stripe are building their proprietary blockchains - Why Circle and Stripe (And Many Others) Are Launching Their Own Blockchains
  

• The Bitcoin price currently appears to be on the verge of entering a euphoric phase of price action after an already strong bull market - Is Bitcoin Price Outperforming Gold and NASDAQ This Cycle?

Chart of the Day

Google searches for "crypto" reach a yearly ATH

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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.