Good Morning,

Here's a quick preview of today’s content: Florida renew’s push to launch Bitcoin reserve, Crypto crime tops $150B in 2025, New York lawmakers target prediction markets, Bitcoin on exchanges can be seized in South Korea, VanEck says Bitcoin could hit $2.9M by 2050, and so much more

Friday’s here - Let’s dive in.

Market Snapshot

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• Crypto markets cool as BTC slides below $90K and ETFs see outflows

  • Bitcoin slid back below $90,000 sparking $477M+ in liquidations

  • Spot XRP ETFs saw their first net outflows of $41M since debut

  • Major altcoins bumped lower: BNB pulled back under key levels as memecoins and DeFi tokens lagged the retreat

  • ZEC plunged -20% after its core team exited, allowing Monero to retake the privacy crown

• Total crypto mcap hovered near $3.18T, dipping -1.1% on the day amid macro and liquidity headwinds

Prediction Markets

• Bettors on Polymarket are predicting Will Bitcoin hit $80k or $150k first?

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

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

• Morgan Stanley plans wallet launch later this year (TB)

• Trump has no plans to pardon Sam Bankman-Fried (TB)

• BlackRock adds $900M BTC (CT)

• VanEck says Bitcoin could hit $2.9M by 2050 (BM)

• Cathie Wood says gov't may start buying to stock Bitcoin reserve (TB)

• Crypto leaders make progress on crypto bill (DC)

• Florida renew’s push to launch Bitcoin reserve (DC)

• Polymarket user who won $400K on Maduro disappears (CT)

• JPMorgan expands JPM Coin to multiple blockchains (CD)

• Bitcoin on exchanges can be seized in South Korea (DC)

• Zcash devs quit, form new company after board clash (TB)

• SharpLink stakes $170M in ETH (DC)

• Optimism Foundation proposes monthly token buybacks (TB)

• BNB treasury strategy sparks governance battle (CD)

• Stand With Crypto sees 700k new members (CD)

• Bybit Private Wealth Management delivers 20% returns (CD)

• Sei warns USDC.n holders to swap for native stablecoin (TB)

Venture Capital

• AI giant Anthropic raises $10B at $350B valuation (CT)

• Predictive Market Space, a Solana-based leveraged prediction market, raises $10.55M through a public token sale from undisclosed investors (BG)

• Digital finance forum HK Golden secures an undisclosed strategic investment from TROOPS for a planned 2026 Nasdaq IPO (TR)

• Enhanced Digital Group, a digital-asset derivatives platform, raises an undisclosed Series A led by StoneX Financial (BW)

Access the complete VC deal flow on Fundable.

M&A Announcements

• Ethereum scaling network Polygon pays $100M to $125M for bitcoin kiosk firm Coinme (CD)

• Coincheck signs $112M stock purchase agreement for majority stake in crypto manager 3iQ (TB)

Launches

• Binance launches regulated TradFi perp contracts (TB)

• Ethereum rolls out final planned Blob fork (TB)

• Polygon Labs unveils ‘Open Money Stack’ (CD)

• Cryptographers debut new Zcash wallet (TB)

• Tokenized Brazilian credit card offers 13% yield (CD)

• Temple Digital Group launches 24/7 trading (CT)

• Nexo offers zero-interest crypto lending (CT)

Regulation

• New York lawmakers target prediction markets (DC)

• Kalshi CEO endorses bill banning insider trading (TB)

• Bitnomial wins regulator’s nod for prediction markets (CD)

• India's tax department flags crypto concerns (DC)

Cybersecurity

• Crypto crime tops $150B in 2025 (TB)

• Truebit token falls after reports of $26M exploit (CT)

• Global sanctions fuel record flow to illicit crypto addresses (CT)

Extra Reads

• Bitcoin could face heightened volatility if the Supreme Court rules against Trump on his global tariffs, impacting markets across crypto, equities, and bonds - Will a Supreme Court Ruling against Trump cause a Bitcoin crash?

• Zcash governance clash tanked the token, while its development team departed to form a new company, it will still be working on Zcash - Here's why it may not be as big as it seems

• Banks risk falling behind if they cling to private blockchains, as upgrading to public, permissioned layer-2 infrastructure is essential for modern finance - Here’s why banks must upgrade their blockchain infrastructure

Chart of the Day

Ethereum surpasses Bitcoin in crypto treasuries by total supply

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.