Good Morning,

Here's a quick preview of today’s content: SBF speaks from prison (we have no idea how), the digital euro launch faces delays to mid-2029, Elizabeth Warren pushes for an ethics probe into Donald Trump, Ian Calderon pledges to put Bitcoin on California’s balance sheet, and so much more

Happy Almost Friday - Let’s dive in.

Market Snapshot

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• The crypto market remains cautious, with analysts noting growing impatience and bearish sentiment among retail investors

  • BTC has rebounded to nearly $113,000, suggesting a potential end to its three-day losing streak, while gold and U.S. equities hover near ATHs

  • ETH is down -0.3% at $4,182

  • A total of $22.6B in BTC options are scheduled to expire on Friday

  • Other top 10 altcoins by market cap are also showing mixed results

• Although overall accumulation remains intact, the slowdown in ETFs suggests a pause in institutional demand

Market Predictions

• Bettors on Kalshi are predicting when Pumpfun will have an airdrop

• Trade your predictions on a range of events, only on Kalshi

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

• Coinbase CEO Brian Armstrong believes Bitcoin could reach $1M by 2030 (BM)

• Sam Bankman-Fried’s verified X account posts “gm” despite prison restrictions on internet use (DC)

• Binance co-founder Changpeng Zhao aims to open $10bn portfolio to outside investors (FT)

• Senator Elizabeth Warren calls for ethics probe into President Donald Trump over concerns with World Liberty Financial (TB)

• South Park’s newest episode centers on a prediction market app (DC)

• Ethereum reclaims its position as the primary network for USDT supply, reaching $80B (TB)

• BitMine Chair Tom Lee says Ethereum will be favored by Wall Street (TB)

• JD Vance posts a heavily edited photo of him on X, leading to a Solana memecoin to skyrocket 65% (DC)

• Kraken donates $1M to the Digital Freedom Fund PAC (DC)

• Binance-linked Aster token processes $23.1B in trades (TD)

• The Asia-Pacific region has the biggest increase in crypto transaction volume, from $1.4T to $2.36T (DC)

• Hyperliquid's stablecoin USDH brings in $2M in early trading volume (CD)

• Crypto exchange BTCC debuts its partnership with NBA superstar Jaren Jackson Jr. (CD)

• DePIN token fees reach an ATH (TD)

• DeFi Development Corp. boosts its share repurchase program from $1M to $100M (DC)

• ReserveOne, a crypto asset management firm, files an S-4 with the SEC (TB)

• Crypto treasury GSR submits filings for five crypto ETFs with the SEC (CS)

• BNB Chain prepares to cut fees and speed up block times (CD)

• Thumzup repurchases 212,000 shares of its common stock for $1M (TB)

• Jiuzi Holdings, a Chinese EV firm, approves a crypto treasury policy authorizing up to $1B in crypto purchases (BW)

• Canton Network joins Chainlink’s Scale program to integrate data feeds and cross-chain tools (CD)

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Venture Capital

• Coinbase Ventures leads a $14.6M investment in Bastion, a startup specializing in white-label stablecoin issuance (BW)

• Canadian financial technology company Stablecorp raised a $3.6M strategic round led by FTP Ventures (PRN)

• Crypto exchange Nebeus exceeds its crowdfunding target, raising €3.6M from over 430 backers (CD)

• Prediction market startup Melee raises $3.5M from Variant, DBA and angel investors to launch (CD)

• Blockchain analytics firm Elliptic secures a strategic investment from HSBC (CD)

M&A Announcements

• UK Bitcoin treasury company B HODL announces the acquisition of 100 BTC for $11.3M (TB)

Launches

• The digital euro faces delays, with launch now slated around mid-2029 (CT)

• Franklin Templeton expands its Benji Technology Platform to the BNB Chain (BW)

• Myriad now offers USDC and Myriad Points rewards for users through a new Share to Earn model (DC)

• Coinbase partners with StraitsX to launch XSGD, the first Singapore dollar-backed stablecoin (FM)

• Ripple's RLUSD stablecoin is now integrated into BlackRock and VanEck's tokenized money-market funds (CD)

• Cloudflare and Coinbase launch the x402 Foundation to promote adoption of the x402 protocol (TB)

• Uniswap Labs releases The Compact v1, an ownerless ERC-6909 contract (TB)

• Botanix Labs, a Bitcoin Layer Two with EVM capabilities, launches stBTC (BM)

• Flare launches its FAssets protocol, a synthetic version of XRP designed for use in decentralized finance (BW)

• Fitell, a fitness equipment provider, announces the launch of its Solana treasury strategy (CD)

Regulation

• Former California Assembly leader Ian Calderon vows to put Bitcoin on California’s balance sheet (DC)

• The Senate Finance Committee will hold a hearing on how crypto should be taxed (CS)

• CFTC unveils an initiative to integrate tokenized collateral, including stablecoins, into U.S. derivatives markets (DC)

• Japan’s policy shifts help the country double its crypto adoption over the past year (CT)

• Executives from crypto companies to speak on panels to discuss “regulatory harmonization efforts” between the SEC and CFTC (CT)

Cybersecurity

• North Korean hackers compromise Web3 gaming incubator, draining $1.2M (DC)

• Ohio man falls victim to $800k crypto investment scam (CN)

• A ransomware operator auctions off sensitive data from the Maryland DOT for $3.4M worth of Bitcoin (DC)

• Eurojust coordinates a Europe‑wide operation targeting a crypto fraud that stole over €100M (EE)

Extra Reads

• With markets cooling after a turbulent stretch and capital rotating, a pipeline of upcoming token launches is giving traders fresh avenues for alpha - Here’s how new token trading opportunities are the horizon

• Instead of hiding in jurisdictions with weak oversight, crypto needs transparent ecosystems with enforceable rules that earn trust - Here’s why crypto doesn’t need safe havens, it needs safe markets

Chart of the Day

Crypto treasury companies now have $107B of assets

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.