Good Morning,

Here's a quick preview of today’s content: Tether freezes $344M in stablecoins flagged for illicit activity, Over 100 crypto firms urge Senate to move on crypto bill, OpenAI poaches Coinbase’s marketing team, White House accuses China of theft from American AI models, Jane Street asks court to dismiss Terraform’s insider trading lawsuit, and so much more

It’s finally Friday - Let’s dive in.

Market Snapshot

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• Bitcoin pulls back from $78,000 as Persian Gulf risk trumps institutional bid and profit-taking hits altcoins

  • ETH ETF inflows hit 10-day streak despite ETH lagging, while SOL drops -3%

  • XRP slips amid profit-taking as crypto sentiment soars to 3-month high

  • Crypto market cap falls -1.6% to $2.69T as BTC loses grip and ETH, SOL, DOGE fade on selling pressure

• Global crypto adoption slumps amid macro pressures as oil price increase weighs on risk assets

Prediction Markets

• Bettors on Polymarket are predicting touchscreen MacBook in 2026?

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

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

• US soldier charged for $400K insider trading on Maduro (DC)

• JPMorgan says security flaws curb DeFi’s institutional appeal (CD)

• White House accuses China of theft from American AI models (DC)

• Meta lays off 8,000 employees as AI intensifies (DC)

• Treasury sanctions Cambodian politician tied to crypto scam network (DC)

• Jane Street asks court to dismiss Terraform’s insider trading lawsuit (TB)

• Founder of token launchpad arrested on strangulation charges (DC)

• Pantera urges treasury Satsuma to dump all Bitcoin (BM)

• Over 100 crypto firms urge Senate to move on crypto bill (CD)

• OpenAI poaches Coinbase’s marketing team (CD)

• MetaMask co-founder announces departure from Consensys (TB)

• Aave rallies DeFi partners to contain fallout from Kelp hack (CD)

• Fold launches Bitcoin bonus program for employers (DC)

• Bitmine’s ETH staking passes 70% of holdings (TB)

• More than 90% of Web3 games fail after $15B boom (CD)

• Google maps lets filmmakers scout movie scenes using AI (DC)

• OKX integrates BitGo off-exchange settlement (CT)

Venture Capital

• Blockchain Capital seeks $700M for two new crypto funds (DC)

• BetHog, an NYC crypto casino, raises $10M co-led by Will Ventures and RockawayX (FM)

• Vault protocol 3F raises $4M led by Maven 11, with participation from F-Prime, GSR, and others (TB)

• Reental, a real-estate tokenization platform, raises $2.3M with participation from 132 investors (OB)

Access the complete VC deal flow on Fundable.

Launches

• MoonPay launches fiat-to-stablecoin virtual accounts (CT)

• Anchorage adds staking strategies for Solana clients (CT)

• Succinct launches camera app that uses cryptography (TB)

Regulation

• BIS sounds alarm on lightly regulated crypto system (BL)

• Crypto PAC bets big on Texas Senate race (CT)

Cybersecurity

• Tether freezes $344M in stablecoins flagged for illicit activity (DC)

• FCA conducts raids on illegal crypto trading in the UK (FM)

Extra Reads

• Quantum fears focus on vulnerable early wallets, but market data suggests even a worst case sell-off would be large, not catastrophic - Here’s why bitcoin’s quantum threat is manageable, not existential

Chart of the Day

AI data centers are now 7% of total US power demand

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.