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Here's a quick preview of today’s content: Revolut leaks bitcoin transactions to fake request, Albuquerque bans bitcoin ATMs, Mexican authorities raid hidden crypto mine, Bitcoin Suisse cuts half of its jobs, Former Alameda CEO Caroline Ellison joins nonprofit charity, 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 Monday - 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 +13.6% Gannon’s AI Fund is up +60.5%

• Bitcoin spikes and shrugs off hot U.S. inflation data as markets eye the Fed's rate decision

  • BTC ETF outflows accelerate as investors pull $449M in three days

  • ETH wins the risk-on bounce among majors, though ZEC leads losses

• Robinhood crypto trading volume jumps +61% in August, though Robinhood Chain revenue falls -83% from its peak

Prediction Markets

• Bettors are predicting TIME person of the 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}}

• Sam Bankman-Fried asks Supreme Court to overturn conviction (DC)

• Anthropic CEO calls for AI race to slow down (CD)

• OpenAI IPO won't happen this year (CD)

• Former Alameda CEO Caroline Ellison joins nonprofit charity (DC)

• OpenAI asks Congress if an AI slowdown is legal (DC)

• Revised CLARITY Act targets DeFi (CT)

• Crypto billionaires hand Reform UK $97M (DC)

• Bitcoin Suisse cuts half of its jobs (CD)

• Ripple puts AI inside its corporate treasury (CD)

• Metaplanet cuts executive reward pool (CD)

• Mexican authorities raid hidden crypto mine (TB)

• Italian bank UniCredit weights crypto custody (BM)

• Zodia Custody CEO steps down (CD)

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

Launches

• India launches tokenized bond pilot (TB)

• Anchorage adds access to Frgmnt stablecoin (CT)

Regulation

• Albuquerque bans bitcoin ATMs (DC)

• ESMA says prediction platforms lack authorization (TB)

• India's richest state explores tokenizing assets (CD)

Cybersecurity

• Revolut leaks bitcoin transactions to fake request (DC)

• Blockstream refuses ransom for return of $47M BTC (DC)

• Cyberattacks on law firms nearly double (DC)

Extra Reads

• There's an odd loop forming: AI is siphoning investment capital away from crypto, even as AI agents may become the biggest future users of crypto's onchain financial rails - Here's the strange feedback loop between AI and crypto

Chart of the Day

RWA trading volume hits a record $7.82B

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.