Good Morning,

Here's a quick preview of today’s content: JPMorgan says Bitcoin miners have hit new records, quantum research is making significant jumps, S&P Dow Jones Indices releases a new index tracking dozens of cryptocurrencies, North Korean hackers steal billions so far in 2025, and so much more

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 (7/7/25), Gannon’s Crypto Portfolio is up +48.64%.

• Crypto markets continued their steady climb, rising +0.5% on the day with total mcap holding out around $4.4T

  • BTC is trading at $124,755, down just -1.1% from its new ATH of $126,080

  • Spot BTC ETFs record $1.19B in net inflows, the highest single-day total since July 10

  • ETH treasuries and spot ETFs now hold over 10% of ETH supply

  • BNB surges +5% to a new ATH above $1,280, flips XRP as the third-largest crypto asset by market cap

• Technical indicators show mixed signals: bullish momentum remains strong, but there are signs of exhaustion

Market Predictions

• Bettors on Kalshi are predicting will the US say that aliens exist this year?

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

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

• BNY Mellon explores tokenized deposits that would allow clients to make payments over blockchain rails (TB)

• Citadel CEO warns of asset inflation and “de-dollarization” as investors seek safety in Bitcoin (CD)

• Tokenized gold trading volumes jump to $640M (TB)

• Galaxy Digital predicts that tokenized assets could hit $1.9T by 2030 (TD)

• Over 61% of BTC hasn’t moved in a year (CS)

• September marks the strongest month of the year for Kalshi and Polymarket, with each platform reaching record trading volumes (TD)

• JPMorgan says Bitcoin miners hit record profits in Q2 2025 (CD)

• BlackRock's IBIT generates $244.5M annually, more than any other BlackRock ETF (DC)

• BNB Chain activity surges since mid-year, with transaction counts quadrupling (TB)

• 21Shares says the Solana network earned $2.85B over the past year (CD)

• DeFi protocols generate $600M in fees during September (TB)

• IREN signs multi-year AI cloud contracts tied to NVIDIA Blackwell GPU deployments (CD)

• KindlyMD joins crypto services provider Antalpha in a strategic partnership through a five-year convertible note deal (DC)

• Grayscale stakes $150M in Ether after launching the first US crypto ETPs (CT)

• Investment bank KBW initiates coverage of Gemini with a market perform rating and a $27 price target (CD)

• Native token of Ethereum Layer 2 network Mantlen reaches a new ATH (TD)

• CEA Industries now holds 480,000 BNB and $663M in crypto plus cash (TB)

• Trio of scientists share 2025 Nobel Prize in Physics for proving quantum behavior can occur in ordinary circuits (DC)

• SharpLink Gaming’s unrealized profits surpass $900M since launching ETH treasury (TB)

• Hyperliquid NFT airdrop rockets Hypurr to $300M market cap (TB)

• CleanCore adds 100M DOGE to its treasury, now with over 710M DOGE in holdings (DC)

• Yuma names crypto data provider TradeBlock’s co-founders to its C-suite (TB)

• Zeta Network Group announces a partnership with SOLV Foundation, a Bitcoin liquid staking platform (CD)

Venture Capital

• Polymarket receives a $2B investment from Intercontinental Exchange, owner of the NYSE (DC)

• Bitcoin life insurer Meanwhile raises $82M in new funding co-led by Bain Capital Crypto and Haun Ventures (BW)

• Grass, a Solana DePIN project, raises $10M in a bridge raise from Polychain and Tribe Capital (BW)

• Jiko, a liquidity platform built on US T-bills, raised a funding round from Coinbase, Blockstream Capital, Bitso, and Crypto.com (BW)

• Lava, a Bitcoin fintech company, announces an angel investment from Alex Crognale, a professional soccer player in the USL (BM)

M&A Announcements

• Smartpay, a fintech company that enables stablecoin-based payments, has been acquired by Rezolve AI, a commerce platform (CT)

Launches

• S&P Dow Jones Indices releases a new index tracking 15 digital assets and 35 crypto-focused companies (DC)

• Polymarket rolls out Bitcoin deposits to expand funding options (TB)

• India introduces an RBI-guaranteed digital currency (DC)

• ZKsync launches Atlas upgrade to support enterprise and institutional blockchains (TB)

• Pineapple Financial Inc. launches its $100M DAT strategy with an initial open market purchase of 678,353 INJ tokens (BW)

• SJMine, a cloud mining platform, launches mobile crypto mining (CD)

• OranjeBTC, a Brazilian firm, goes public on Brazil’s B3 (BM)

• Privacy project, Umbra, launches its ICO on Solana (BW)

• Breez, Lightspark, and Tether launch an initiative to embed Bitcoin payments into open-source software (BM)

Regulation

• US Senator Lummis says Bitcoin reserve funding ‘can start anytime’ (CT)

• SEC aims to formalize 'innovation exemption' by end of year (CD)

• Dubai regulator cracks down on 19 unlicensed crypto operators (CT)

• The Bank of England may relax proposed caps on corporate stablecoin holdings after industry backlash (CT)

• Malaysia grants Fasset a provisional license to operate as a Shariah-compliant digital bank (CD)

• The EU considers sanctions against A7A5, a Russian ruble-backed stablecoin (CT)

• Crypto infrastructure company BitGo secures regulatory approval to offer services in Dubai (CT)

Cybersecurity

• North Korean hackers steal over $2B in crypto so far in 2025 (TC)

Extra Reads

• The current competition to host the next wave of stablecoin liquidity is less about raw throughput and more about control vs. openness - Here’s why the fight for ‘the stablecoin chain’ is about control

• For many years, Bitcoin was used to buy drugs online due to its perceived anonymity, but since transactions are easy to track, Zcash offers an alternative crypto that promises privacy - Here’s what Zcash is, the privacy coin

• The U.S. government’s shutdown last week may not completely derail crypto legislation efforts, but according to insiders, it’s certainly not helping - Here’s why US government shutdown complicates crypto market structure bill's path forward

Chart of the Day

Tokenized gold’s total market cap hits a record $3.02B

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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.