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Good Morning,

Here's a quick preview of today’s content: Sen. Warren sounds alarm on Trump's crypto dealings, Solana under ‘industrial scale’ DDoS attack, Visa begins stablecoin settlement on Solana, FCA finds crypto ownership falls to 8% in the UK, Bitcoin treasury KindlyMD faces Nasdaq delisting, 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 +18.03%

• Crypto markets wobble as ETF outflows and macro fears drive year-end caution

  • BTC slid toward $86K as unemployment hit its highest level since 2021, pushing markets into extreme fear

  • Spot BTC and ETH ETFs saw $582M in daily outflows, the largest in a month

  • Thin holiday liquidity amplified moves, with over $500M in bullish bets liquidated across crypto and AI-linked assets

  • ETH led declines among top tokens as most of the top 100 fell below key technical levels

• In contrast, spot XRP ETFs surpassed $1B in cumulative inflows with no outflow days since launch, bucking the broader risk-off trend

Prediction Markets

• Bettors on Polymarket are predicting what will SpaceX’s public ticker be?

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

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

• Saylor’s Strategy accounts for 3.2% of BTC supply (BM)

• Solana under ‘industrial scale’ DDoS attack (CT)

• Goldman and JPMorgan sell complex crypto products in new era (BBG)

• Coinbase risks 'cannibalization' with prediction market push (DC)

• Bitcoin treasury KindlyMD faces Nasdaq delisting (DC)

• Ark Invest buys Coinbase, Circle and BitMine (DC)

• Visa begins stablecoin settlement on Solana (DC)

• Sen. Warren sounds alarm on Trump's crypto dealings (DC)

• Activist investor Eric Jackson starts crypto treasury (BBG)

• Bitwise says Bitcoin will break four-year cycle (CD)

• Coinbase and Robinhood join new 'Tech Force' (DC)

• American Bitcoin edges into top 20 corporate BTC holders (TB)

• FCA finds crypto ownership falls to 8% in the UK (TB)

• Crypto bank Custodia fights to gain Fed master account (DC)

• Prediction market monthly volumes grow 130x (TD)

• Nexo lands Australian Open sponsorship deal (DC)

• Most crypto sectors lagged Bitcoin over past 3 months (CT)

• AAVE token holder proposes 'poison pill' for DAO (TB)

• Crypto ATM operator expands to Texas (CT)

• Ronin and ZKsync’s on-chain metrics fall the most this year (CT)

Venture Capital

• RedotPay, a stablecoin-based payments fintech, raises $107M Series B round from Pantera Capital and Circle Ventures (TB)

• MetYa, a DeFi global asset services startup, raises $50M led by United Century United Holdings, with participation from Castrum Capital, M2M Capital, and others (VB)

• Tether co-leads $8M investment in Speed, a Lightning Network payments firm (DC)

• AI-driven on-chain security startup TestMachine raises $6.5M led by Blockchange Ventures with participation from New Form Capital, Decasonic, and Delphi Digital (PM)

• Halogen Capital, a RWA platform, raises $3.2M seed round led by Kenanga Investment Bank Berhad with participation from 500 Startups and Digital Currency Group (CR)

• Frontera Labs, a blockchain and research firm, raises $3M seed round led by Maven 11 with backing from Lightspeed Faction and others (CD)

• Crypto Transparency, a crypto data‐transparency startup, closes an undisclosed seed round from early investors (LI)

Access the complete VC deal flow on Fundable.

M&A Announcements

• Anchorage Digital acquires Hedgey, a startup that builds solutions for managing token allocations (TB)

Launches

• Gemini rolls out prediction markets in US (CT)

• Ripple pilots RLUSD on Ethereum L2s (CT)

• OKX rolls out spot margin trading in Europe (TB)

• Marshall Islands launches blockchain-based UBI (CD)

• Solana enters exchange as Valour expands access (CT)

• Exodus launches MoonPay-backed digital dollar (CD)

• StraitsX debuts Singapore and USD stablecoins (CD)

• Prediction platform Probable launches on BNB Chain (TB)

• LBank launches pre-market trading for MetaMask (CD)

Regulation

• US banks could issue stablecoins to implement GENIUS (CT)

• FDIC proposes stablecoin application framework rule (TB)

• SEC ends 4-year investigation into Aave (DC)

• Crypto urges SEC to see the good in blockchain privacy tools (CT)

• Spain’s regulator sets out MiCA rules for crypto platforms (CT)

• UK regulators start major consultation on crypto listings (CD)

Cybersecurity

• FTC compels operator repay users after $186M crypto hack (DC)

• Cloudflare warns over 1 in 20 emails are malicious (CT)

• Hong Kong court adjourns $206M fraud case (DC)

• New bug that drains all tokens impacts thousands of websites (CD)

• Gnosis hard fork to recover Balancer funds sparks debate (TD)

• Brazil tests blockchain in real estate auction to reduce fraud (CD)

Extra Reads

• The holiday season is supposed to be about rest, family and celebration, but unfortunately, it is also one of the busiest times of the year for cybercriminals - Here’s how scammers target crypto users during the holidays

• BitMine is building an Ether-heavy treasury as ETF flows wobble and exchange deposits rise, betting on Fusaka and staking to drive a longer-term thesis - Here’s why BitMine is accumulating Ether despite market fear

Chart of the Day

US firms dominate the crypto treasury space

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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.