Good Morning,

Here's a quick preview of today’s content: Australian exec accused of selling cyber secrets to Russia for crypto, Sen. Warren urges Treasury not to bail out crypto billionaires, CME launches 24/7 crypto derivatives trading, Mystery Hong Kong firm emerges as largest IBIT holder, Tech billionaire Peter Thiel exits treasury firm ETHZilla, and so much more

Friday’s here - 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 +2.1%

• Bitcoin steadies near $67,000 but faces longest losing streak since 2022 as geopolitical nerves hit risk trades

  • BTC, ETH, and XRP ETFs bleed with $133M in outflows while SOL bucks trend

  • XRP sentiment hits 5-week high as money rotates away from BTC and ETH

  • Altcoin selling pressure hits five-year high as confidence wanes and liquidations exceed $200M

• Traders pay for crash protection as sentiment stays in 'extreme fear' and low-volatility trade prevails

Prediction Markets

• Bettors on Polymarket are predicting next leader out of power before 2027?

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

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

• Goldman Sachs CEO David Solomon says he owns bitcoin (BBG)

• Tech billionaire Peter Thiel exits treasury firm ETHZilla (BBG)

• Wall Street pushes deeper into prediction markets with ETF filings (DC)

• WLFI jumps double digits ahead of Mar-a-Lago forum (DC)

• Mystery Hong Kong firm emerges as largest IBIT holder (TB)

• Fed's Neel Kashkari calls crypto 'utterly useless' (CD)

• OpenAI unveils AI tool to enhance blockchain security (TD)

• Lime co-founder named in $100M RICO alleging crypto fraud (CD)

• NYSE President felt ‘responsibility’ to enter tokenization space (CD)

• Robinhood Layer 2 sees 4M transactions in first week (TB)

• UAE bitcoin mining amasses $344M profit (TB)

• Real estate billionaire Barry Sternlicht ready to tokenize assets (CD)

• Apex Group pilots World Liberty stablecoin for tokenized funds (CD)

• Coinbase’s lending product expands to XRP and DOGE (DC)

• Wells Fargo sees ‘YOLO’ trade driving $150B into Bitcoin (CT)

• Crypto lender Blockfills up for sale after $75M loss (CD)

• Brevan Howard crypto fund posts 30% loss (TB)

• AI disruption could cut creator earnings by 25% (DC)

• Blockchain data may predict drug overdose surges months in advance (CT)

• Cathie Wood's Ark Invest buys $6.9M Coinbase shares (TB)

• Ethereum network Base dumps Optimism tech (DC)

• Ledn sells $188M worth of bitcoin-backed bonds (TB)

• Ethereum treasury Sharplink reports growing holdings (DC)

• Bitwise seeks SEC nod for prediction market ETFs (TB)

• Lightning Network exceeds $1B monthly volume (CT)

• PayPal’s PYUSD supply crosses $4B (TD)

• Milo tops $100M in crypto-backed mortgages (CD)

• Tokenized xStocks surpass $25B total transaction volume (TB)

• Toncoin treasury agrees to sell cancer treatment subsidiary (TB)

• Onchain analytics tool Parsec winds down operations (TB)

• Modern Treasury integrates stablecoin settlement (CT)

Venture Capital

• DBA, a crypto investment firm, raises $68M led by former Delphi Digital researcher Charbonneau (TB)

• RWA startup OneChain raises $67M strategic Series A round co-invested by BitGo Ventures, East Bank, PACIFIC BANK, and UBpay (BG)

• DeFi startup BASIS secures $35M pre-series A capital injection (CD)

• Wallet infrastructure Kresus Labs raises $13M from Hanwha Investment & Securities (CD)

• Newity, a fintech firm, raises $11M strategic funding round led by CMT Digital (TB)

Access the complete VC deal flow on Fundable.

M&A Announcements

• Polymarket buys prediction market API startup Dome (TB)

• Kraken buys token vesting platform Magna ahead of potential IPO (TB)

• David Bailey’s Nakamoto buys his own Bitcoin empire at a discounted price (TD)

Launches

• CME launches 24/7 crypto derivatives trading (DC)

• Canary and Grayscale Sui ETFs hit US markets (DC)

• Anchorage Digital launches stablecoin solutions (TD)

• Hyperliquid launches policy center with $29M backing (DC)

• XRP Ledger activates DEX upgrade (TB)

• Figure debuts its tokenized stock (CD)

• SocGen expands euro stablecoin to Ledger (CT)

• ProShares launches stablecoin money market ETF (TB)

• Voltage expands infrastructure with revolving credit line (TB)

• FutureBit launches home bitcoin miner (BM)

Regulation

• Sen. Warren urges Treasury not to bail out crypto billionaires (BM)

• Crypto leaders meet for third White House meeting (TB)

• California begins enforcing state-level crypto licensing (DC)

• Coin Center urges Senate not to axe crypto dev protection bill (CT)

• ECB targets 2027 digital euro pilot (CT)

Cybersecurity

• Australian exec accused of selling cyber secrets to Russia for crypto (DC)

• Hacker returns $21M stolen bitcoin to South Korean authorities (TB)

• Illicit networks account for $141B of stablecoin volume (CD)

• Oracle error leaves DeFi lender with $1.8M in bad debt (DC)

• AMLBot says social engineering drove 65% of crypto cases it probed (CT)

Extra Reads

• Crypto tax platform, Awaken Tax, polled 1,000 crypto holders about a radical shift from self-disclosure to automatic reporting of transactions - Here’s why crypto holders are confused about new IRS tax rules

• Crypto’s reputation is improving, but investors still complain that their banks are blocking their accounts for interacting with crypto - Here’s why banks can’t seem to service crypto

Chart of the Day

Search interest for “Bitcoin going to zero” is rising

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.