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Here's a quick preview of today’s content: Lawmakers take another swing at crypto tax policy with revised bill, Crypto bros appear to be dodging reporting sales to the IRS, X launches new feature for stocks and crypto, NFT bull Steve Aoki sells his crypto, Kraken confirms confidential IPO filing, and so much more

Happy Wednesday - 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 +9.87%

• Bitcoin roars past $76,000 to highest level since Feb. 5 crash as $500M+ short squeeze continues

  • ETH outperforms as ETF flows split and activity jumps +41% on-week, with DOGE climbing +3%

  • BTC passes halfway point in halving cycle as supply tightens toward 2028

• Crypto market cap rises to $2.63T on Iran deal hopes sparking $400M liquidations and risk-on snapback

Prediction Markets

• Bettors on Polymarket are predicting US-Iran permanent peace deal by...?

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

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

• Crypto bros appear to be dodging reporting sales to the IRS (BBG)

• Fed pick Kevin Warsh discloses investments in slew of crypto firms (DC)

• Goldman Sachs files for bitcoin income ETF in crypto push (CD)

• Strategy's STRC sees record-breaking trading day (CD)

• Kraken confirms confidential IPO filing (TD)

• NFT bull Steve Aoki sells his crypto (CD)

• DOJ opens $40M compensation for OneCoin fraud victims (DC)

• JPMorgan CFO warns stablecoins risk becoming arbitrage play (CD)

• X launches new feature for stocks and crypto (TD)

• Bitmine posts $3.8B quarterly net loss (TB)

• Nauru taps Dadvan Yousuf for trade role in crypto push (CT)

• Former CFTC Chair leaves law to focus on crypto advisory (CT)

• Bernstein projects prediction market sector hits $1T by 2030 (TB)

• Polymarket audit startups help users copy insider trading (TB)

• Tether launches wallet for crypto and gold-backed tokens (DC)

• Visa joins Tempo Payments network as validator (DC)

• High Roller stock doubles on partnership with Crypto.com (CD)

• 21Shares files updated Hyperliquid ETF application (TD)

• Rakuten allows XRP to be used as payment method (CD)

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Venture Capital

• Paxos Labs, a stablecoin issuer, raises $12M led by Blockchain Capital (FT)

• OpenGradient, a decentralized AI company, raises $9.5M with backing from a16z crypto and Coinbase Ventures (PL)

• Startup accelerator Y Combinator completes $500k funding round for prediction market Totalis (TB)

Access the complete VC deal flow on Fundable.

M&A Announcements

• German exchange operator Deutsche Börse takes $200M stake in crypto exchange Kraken (BBG)

Launches

• Circle explores Arc Network token launch (DC)

• Ethereum Foundation launches $1M crypto security subsidy (TB)

• Ledger unveils AI security roadmap (TB)

• Figure and Hastra widen credit offering with auto loan launch (CT)

• GMX rolls out 24/7 gold and silver trading (TD)

• Polygon launches native liquid staking token (TD)

• Morpho unveils fixed-rate protocol Morpho Midnight (TD)

Regulation

• Lawmakers take another swing at crypto tax policy with revised bill (CD)

• UK lawmaker calls for FCA probe of Farage's crypto promotion (TB)

• Bank of Korea nominee backs central bank digital currency (CD)

Cybersecurity

• Web3 hacks cost $482M as phishing drives losses (CT)

• Fake Ledger app steals millions in crypto from holders (DC)

• Ether exchange CoW Swap pauses following site compromise (DC)

Extra Reads

• Cantor Fitzgerald says Robinhood and Coinbase are best positioned to dominate the prediction market space by leveraging their massive retail scale and existing trading infrastructure - Here’s why Cantor Fitzgerald thinks Robinhood and Coinbase are the best plays

Chart of the Day

Bitcoin short-term holders' supply in loss reaches 5M

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.