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Here's a quick preview of today’s content: Mexico quadruple homicide tied to Bitcoin robbery, Visa finances stablecoin card programs, FCA puts benefit of crypto regime at £120M, Bybit launches 24/7 perpetuals, New York town weighs crypto mining ban, and so much more

Looking for institutional guidance on your firm's crypto strategy? Speak to the team at Alvarez & Marsal Crypto. They offer comprehensive advisory services on everything from stablecoin adoption, tokenization and custody to M&A, compliance and risk. Book a call!

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 (7/3/25), Gannon’s Crypto Portfolio is up +20% Gannon’s AI Fund is up +60.2%

• Bitcoin slips under $79,000 as an oil shock revives Fed rate-hike bets

  • Oil prices pull back, with BNB and DeFi tokens bucking the selloff while ZEC leads losses

  • BTC ETFs are still $1B shy of breaking even in 2026

  • HYPE open interest climbs to $14.3B and hits an all-time high, while copper rushes to a record on AI-related demand

• Volatility remains subdued as supply in profit nears the historical bear-to-bull transition level

Prediction Markets

• Will the crypto bill finally get passed this year?

• Deposit $10 and get a $20 bonus with code LIT on signup, only on the Polymarket US app

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

• Dorsey’s Block joins crypto bank race with trust bid (BBG)

• 22 year-old crypto ringleader arrested for $245M racketeering scheme (TB)

• Visa finances stablecoin card programs (DC)

• Police fear Meta glasses watch them back (DC)

• Strategy repurchases $176M of STRC (TB)

• New York town weighs crypto mining ban (CT)

• Bitmine adds $70M in Ethereum (DC)

• Strive buys $109M in Bitcoin (DC)

• Ethereum aims for quantum-safety by 2029 (TB)

• Pons propels Robinhood Chain fees to $6M (TB)

• ARK asks SEC to approve tokenized venture fund (TD)

• Robinhood chain to generate $160M by 2028 (CT)

• DeFi Development closes $11M CHAD offering (TB)

• Franklin Templeton crypto vet joins StablecoinX (CT)

• Copper CEO departs in search for a buyer (CD)

• Bit2Me helps law enforcement track down crypto assets (CD)

• Hashgraph Group pilots cocoa traceability (TD)

A Message from Alvarez & Marsal Crypto

A&M Crypto: Institutional Digital Asset Advisory, Executed at Scale

Alvarez & Marsal's Crypto practice is the leading global digital asset advisory firm, with 90+ offices worldwide and operators who've executed through every market cycle. A&M combines operational, financial, and industry expertise to take institutions from strategy to deployment: stablecoin adoption, tokenization and RWAs, custody and infrastructure, M&A advisory, IPO readiness, risk and compliance, restructuring and much more.

A&M's clients include half the Fortune 500 and the leading crypto-native and TradFi firms in the industry.

Whether you’re looking to adopt stablecoins, standing up digital asset infrastructure, or navigating tokenization/RWAs... A&M has done it before, at scale across finance, operations, engineering, commercialization, risk and compliance.

Talk to A&M Crypto

M&A Announcements

• Robinhood takes equity stake in Crypto.com (DC)

• Stablecoin issuer Circle buys payments firm Tazapay (CD)

Launches

• Bybit launches 24/7 perpetuals (CT)

• Castle opens its bitcoin stack to individuals (BM)

• Compound opens lending market (TD)

• CoinCorner launches multisig bitcoin vault (BM)

Regulation

• FCA puts benefit of crypto regime at £120M (FM)

• Swiss stablecoin sandbox enters testing phase (CT)

• Uzbekistan begins bond stablecoin pilot (CT)

Cybersecurity

• Mexico quadruple homicide tied to Bitcoin robbery (CT)

• Liquid Network gets back 3,400 bitcoin from hackers (CD)

• Cronos reverses $111M DeFi exploit (DC)

Extra Reads

• Bitcoin's base layer is deliberately simple to keep it safe, but the push for speed and smart contracts has led to complexity, and AI is now tearing through those layers, exposing millions of vulnerabilities - Here's Bitcoin's complexity paradox, and why AI is exploiting it

• You can stack sats, farm yield, and believe Bitcoin is the future of money, and still have good reason to keep it out of your retirement account - Here's why believing in Bitcoin doesn't mean betting your retirement on it

Chart of the Day

Bitcoin experiences its shallowest bear market in history

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.