Good Morning,

Here's a quick preview of today’s content: US sanctions North Korean bankers over crypto laundering, Prosecutors seek maximum sentence for Samourai Wallet devs, BlackRock expands Bitcoin strategy in Australia, Foreign-exchange vets seek to rebuild crypto in Wall Street, Sequans sells BTC to pay down debt, 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 +42.65%

• Crypto markets plunge as Bitcoin breaks below $100K

  • Bitcoin crashed under $100K for the first time since May, triggering $2B in liquidations as long-term holders offloaded 400K BTC

  • Ethereum dropped to a four-month low and turned negative for the year, with $303M in ETH positions wiped out amid $1.3B total market losses

• Privacy coins like DASH surged +150% despite broad market weakness, marking a bright spot in a turbulent week

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

• Appeals court judges question Sam Bankman-Fried's claims over FTX solvency (TB)

• Binance CEO denies allegations company pushed Trump’s stablecoin (CT)

• Amazon sends cease-and-desist to Perplexity over AI agent purchases (DC)

• Coinbase faces flak from bankers on push for trust bank charter (CD)

• White House says CZ pardon was considered with ‘utmost seriousness’ (CT)

• Bitcoin treasury Sequans sells $100M BTC to pay down debt (DC)

• Colleges endowments return 11-12% in crypto investments (MP)

• Bitcoin miner MARA hits record high revenue in Q3 (DC)

• CryptoQuant says BTC could drop to $72k by year's end (TB)

• Foreign-exchange vets seek to rebuild crypto in Wall Street’s image (BBG)

• UBS and Chainlink execute first on-chain tokenized fund redemption (CD)

• Perp DEX volume hits record $1.2T in October (TB)

• Hut 8 joins rank of top 10 largest BTC holder (TB)

• Solana treasury Forward Industries authorizes $1B share repurchase (CT)

• Ripple's stablecoin hits $1B milestone (CD)

• Solana treasury firm Upexi's holdings reach 2.1M SOL (TB)

• CleanSpark expands capacity and secures Texas site for AI push (CT)

• China’s budget AI bots smash ChatGPT in crypto trading face-off (CT)

• BTCC reports $29.2B tokenized RWA futures trading (CD)

• ZKsync proposal aims to tie token to network revenue (CD)

• MyPrize partners with Crypto.com for prediction market trading (TB)

• Giggle Academy clarifies it’s not behind the GIGGLE token (CT)

• Coin Terminal user wins $10K in monthly crypto lottery (CD)

Venture Capital

• Venture funding hits $5.1B in October (CS)

• Bitcoin mining firm Canaan Inc. secures $72M strategic investment from BH Digital (TB)

• Stablecoin infrastructure platform Zynk raises $5M seed led by Hivemind Capital, with participation from Coinbase Ventures, among others (TB)

• Canadian stablecoin startup Loon raises $3M pre-seed funding led by Version One Ventures (PS)

Launches

• BlackRock expands Bitcoin strategy with Australian ETF launch (BM)

• Strategy proposes euro share offering to fund future BTC buys (TB)

• Gemini prepares to launch prediction market contracts (TB)

• Esports firm Ninjas in Pyjamas expands Bitcoin operation (DC)

• Chainlink introduces CRE to fast-track institutional tokenization (CD)

• Bitnomial adds RLUSD and XRP as margin collateral (CD)

• Olas launches first AI agent app store (CD)

• Mevolaxy launches mobile app and payouts (CD)

Regulation

• Prosecutors seek maximum sentence for Samourai Wallet devs (DC)

• SEC crypto treasury probe frozen by shutdown (TB)

• Canada introduces legislation regulating fiat stablecoins (CT)

• EU plans to centralize crypto oversight under ESMA (CT)

• FTX withdraws motion seeking to limit repayments in restricted jurisdictions (TB)

• XRP gets legal recognition as property in India (CT)

Cybersecurity

• US sanctions North Korean bankers over crypto laundering tied to cyberattacks (CD)

• Stream Finance stablecoin plunges after protocol's fund manager loses $93M (DC)

Extra Reads

• Bitcoin has dropped -19% from its record high as the government shutdown saps $700B from markets, but analysts see a major rally ahead when liquidity returns - Here’s how Bitcoin liquidity has been affected by the government shutdown

• AI systems drive crypto fraud while the industry relies on outdated postmortems, and real-time transaction defense must become infrastructure - Here’s why postmortems can’t stop AI-powered crypto fraud

Chart of the Day

Binance data indicates Bitcoin is trading below the moving average with low unrealized losses

Meme Dump

Pls send us crypto memes to be featured in the newsletter 🤝

🐦 Follow Us: Visit our X account for daily updates on all things web3, DeFi, & crypto.

💰 Gannon’s Crypto Portfolio: Trade alongside Gannon’s crypto on Autopilot

💵 Litquidity Ventures: Accredited investors & qualified purchasers within the Litquidity community can gain access to alternative investments such as venture, late-stage growth, and private equity through Litquidity Ventures. Interested? Fill out this form.

☎️ Book a call with Lit: Want to pick Litquidity’s brain on business advice, insights, or just chat to say what’s up? Buy his time here.

📧 Launch your own newsletter: Have great content ideas and looking to launch your own publication? We highly recommend Beehiiv to get started.

*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.