Good Morning,

Here's a quick preview of today’s content: Woman gets 71 months over Bitcoin fraud targeting elderly, CFTC turns to AI for crypto applications, State Street launches tokenized fund, Sam Bankman-Fried’s motion for new trial rejected, Crypto projects shut down as models fail under pressure, and so much more

Happy Wednesday - Let’s dive in.

Market Snapshot

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• Bitcoin holds $76,000 ahead of Powell's final Fed meeting as traders weigh Hormuz closure

  • BTC ETFs snap nine-day inflow run with weekly losses topping $829M

  • HOOD slides -8% on crypto revenue decrease, with crypto trading volume falling -50%

  • ETH faces crossroad as latest hacks shake confidence, while SOL slides

  • Stablecoin transfer volume drops -19% even as supply keeps rising

• Crypto markets stuck in neutral as traders turn cautious ahead of expected Fed hold pressured by uncertainty

Prediction Markets

• Bettors on Polymarket are predicting James Comey arrested by…?

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

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

• JPMorgan taps former Goldman exec to lead blockchain unit (BBG)

• Sam Bankman-Fried’s motion for new trial rejected (BBG)

• Google signs AI deal with Pentagon for classified work (DC)

• Polymarket seeks blessing to bring main exchange back to US (BBG)

• AI agent deletes startup’s database in 9 seconds (DC)

• Soldier charged in Polymarket insider trading pleads not guilty (DC)

• Paul Tudor Jones calls bitcoin the 'best inflation hedge' (CD)

• State Street launches tokenized fund (TB)

• OpenClaw insider builds enterprise layer the project never shipped (DC)

• Telegram AI crypto agents can now execute transfers (TB)

• Bitmine's ether buys are catching up to Strategy (CD)

• Jack Dorsey's Block discloses $2.2B bitcoin holdings (DC)

• Crypto projects shut down as models fail under pressure (CT)

• Hyperliquid gains counter $216M loss at Galaxy Digital (DC)

• Riot extends $200M Coinbase credit facility (CD)

• Aave unveils plan to address Kelp hack fallout (DC)

• Ondo enables shareholder voting for tokenized stocks (CD)

• Visa taps WeFi to connect crypto to its network (TB)

• Pump.fun burns $370M in PUMP token (TB)

• New wallet offers way to tackle Bitcoin’s quantum risk (CD)

• OKX lets institutions use BlackRock’s BUIDL as collateral (CT)

• Bitcoin 2027 conference will return to Nashville (BM)

• Canaan and Tether deepen partnership on mining systems (CT)

Venture Capital

• Liquid, a crypto exchange, raises $18M co-led by Neo and Left Lane Capital (FT)

• RWA yield platform Nuva raises $5.2M led by Morgan Creek Digital (TB)

Access the complete VC deal flow on Fundable.

Launches

• Tether reveals plans for mining hardware (DC)

• Bitbank rolls out crypto-linked credit card (TB)

• Anza and Firedancer introduce post-quantum solution (CT)

• Ostium launches institutional hedging layer (TD)

• Toku taps Paxos to offer yield on paychecks (TB)

• Amboss launches RailsX for stablecoin trading (TB)

• RedStone launches settlement layer (CT)

Regulation

• CFTC turns to AI for crypto applications (TB)

• SEC seeks comment on NYSE proposal for listing rule (TB)

• CFTC sues Wisconsin over prediction market oversight (TB)

• Japan tells crypto sectors to tighten AML checks (CT)

• Czech bank chief backs Bitcoin as 1% reserve slice (BM)

Cybersecurity

• Woman gets 71 months over Bitcoin fraud targeting elderly (DC)

• Scammers use Gmail to spoof Robinhood in phishing scam (CT)

• ZetaChain halts transactions following attack (TB)

Extra Reads

• The NFT market cap is at its lowest since summer 2021, yet top Ethereum collections are surging - Are NFTs back?

• As AI agents reshape commerce, and make every business an open book, companies will need to figure out what data actually needs to be kept secret, and protect it ferociously - Here’s why every blockchain transaction is a gift to your competition

Chart of the Day

Over $1T of stablecoins have been transferred this month

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.