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Here's a quick preview of today’s content: A British pension fund adds Bitcoin to its portfolio, the squirrel meme coin continues to fly, Ethereum’s white paper turns 11, crypto venture capitalists donate more to the cause, the country of Pakistan makes crypto its legal tender, and more

Let’s dive in.

Before The Bell

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

• Coinbase, a16z and others pour more than $78M into pro-crypto PAC for 2026 election (CNBC)

• Prison guards asked Binance founder CZ what crypto to buy (CM)

• Solana-based meme coin PNUT ‘Peanut the Squirrel’ climbed to $150M in trading volume (DC)

• Michigan State pension fund reports $11M exposure to Ethereum ETFs (TB)

• Crypto exchange Kraken launched a licensed brokerage service in Australia that offers crypto-based derivatives trading (CT)

• Analysts at global investment firm Bernstein predict the price of Bitcoin to hit $90k with a Trump victory and a fall to $50k if Harris prevails (DC)

• New Global Dollar Stablecoin 'USDG' is backed by Robinhood, Kraken, Paxos and Other Crypto Heavies (CD)

• Citi and Fidelity announce on-chain money market fund (DF)

• World Liberty Financial, a DeFi protocol backed by Trump, announced a cap of $30M for token sales within the US and will direct a majority of its $289M offering to international investors (AC) 

• British Pension Fund first to add Bitcoin to balance sheet (DC)

• Ethereum white paper turns 11, celebrating blockchain’s ‘foundational’ layer (CT) 

• Kraken verifies $21.5B in client assets with latest proof of reserves (FM)

• Rektguy NFT project achieves one of largest product sales with 222,000 ‘Rekt Drinks’ sold in 48 hours (DF)

• Bitcoin mining firm Sangha Renewables aims to help renewable energy companies start their own bitcoin mines (CD)

• Bitcoin miners Marathon Digital and Riot Platforms have just signalled their highest monthly Bitcoin production since the Bitcoin halving in April (CT)

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Venture Capital

• VC a16z alone pledged over $23M to Super PAC Fairshake to support crypto-friendly candidates in the 2026 midterm elections (BBG)

• EllipsisLabs raises the developer team behind the Solana-based decentralized exchange Phoenix, has raised $21 million from Haun Ventures to launch Atlas (CD)

• Vlayer raises $10M in pre-seed funding to build Ethereum’s ‘ Solidity 2.0’ (TB)

Regulation

• The State Bank of Pakistan proposed a policy that would make crypto legal tender throughout the country (CT)

• Coinbase's chief legal officer uncovered 20 instances when the FDIC told banks to stop offering crypto-related services  (DH)

• Singapore advances asset tokenization with new 'MAS' frameworks (CT)

Cybersecurity

• Online casino platform MetaWin suffered an exploit that drained the platform of ~$4M (CT)

• Scammers hack rapper Wiz Khalifa’s X account to promote Fake Wiz Meme coin (CN)

Chart of the Day

Polymarket monthly volume continues to explode

(tallest candle is October)

Meme Dump
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