Good Morning,

Here's a quick preview of today’s content: Berachain halts network amid large exploit, France passes amendment to tax crypto as ‘unproductive wealth’, Ripple launches crypto prime brokerage for US, IREN announces multi-year contract with Microsoft, and so much more

Happy Tuesday - 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 +46.64%

• Crypto markets slide as ETF outflows and profit-taking accelerate

  • Bitcoin fell below $106K, down -4% in early November after whales took profits and traders faced $1B in leveraged liquidations

  • US BTC ETFs saw $946M in weekly outflows, while SOL ETFs drew $421M in fresh inflows

  • ETH‘s monthly stablecoin volume hit a record $2.8T, and tokenized treasuries climbed to $8.63B in mcap

  • Gold outperformed Bitcoin as Powell’s cautious tone on rate cuts drove $360M in crypto fund outflows

• Analysts warn of a potential drop toward $100K, though privacy coins surged +80% amid broader market weakness

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

• Trump tells CBS News he 'doesn't know' who CZ is - see the clip here

• BTC miner IREN announces multi-year contract with Microsoft (TB)

• Trump’s crypto czar calls crypto the “industry of the future” (BM)

• Fidelity Crypto allows users to withdraw crypto to external wallets (BM)

• Bitcoin miner Cipher Mining announces $5.5B lease agreement with AWS (TB)

• Michael Saylor's Strategy buys another 397 BTC for $45.6M (TB)

• Tom Lee says Bitcoin can reach $150K-$200K by year’s end (BM)

• Wintermute says the firm is not suing Binance and 'never had plans to' (TB)

• CZ denies he’s behind a proposal for a private crypto bank in Kyrgyzstan (CT)

• HIVE Digital unveils AI infrastructure expansion with $1.7M Canada deal (TB)

• BitMine adds additional $300M in Ether (CD)

• Polymarket activity hits new highs while Kalshi dominates in volume (TB)

• Cathie Wood's Ark buys $12M Bullish shares (TB)

• DEX trading volume hits record $613.3B in October (TB)

• Banco Inter and Chainlink power CBDC trade settlement between Brazil and Hong Kong (CD)

• Standard Chartered CEO sees Hong Kong stablecoin pivotal for international trade settlement (CD)

• Nasdaq flags rule violation in $273M Toncoin purchase (CD)

• Aave DAO makes $50M annual token buybacks permanent (TD)

• Ethereum Foundation revamps grants program under new funding (CT)

• HIVE Digital's mining capacity hits 23 EH/s (CD)

• Btrust names Bitcoin Core contributor Khalil as new CEO (BM)

Venture Capital

• Biotech firm Tharimmune raises $540M in a private placement led by DRW and Liberty City Ventures to launch a canton coin–based treasury strategy (BBG)

• Lava, a platform for Bitcoin-backed loans, announces a $200M funding round of venture and debt capital backed by angel investors (BM)

• Donut Labs, an agentic browser that automates crypto trading, raises $22M across pre-seed and seed rounds backed by BITKRAFT, Makers Fund, Sky9 Capital and Hack VC (CD)

• Standard Money, developer of the BNB Chain-based stablecoin, raises $8M in a strategic investment round led by Yzi Labs, Gate.io, Crypto.com, and Animoca Brands (CD)

• Crypto perp DEX aggregator Liquid raises $7.6M in seed funding from investors including Paradigm and General Catalyst (TB)

M&A Announcements

• Crypto investor Animoca Brands poised for Nasdaq listing through reverse merger with AI company Currenc Group Inc. (TB)

• Blockchain tech firm Ripple acquires crypto wallet firm Palisade to expand institutional payments business (CD)

Launches

• Ripple launches crypto prime brokerage for US markets (TB)

• Kraken unlocks crypto collateral for derivatives across EU (TB)

• FTSE Russell partners with Chainlink to publish stock indexes on-chain (CT)

• Hollywood.com and Crypto.com join to debut entertainment-focused prediction markets (DC)

• Chainlink launches rewards token incentives to LINK stakers (CD)

• StarkWare deploys S-two prover on Starknet to boost speed (TB)

• AI payments startup Kite debuts token with $263M trading volume (CD)

• Gate Group announces official launch of Gate Australia (CD)

• Strive proposes high-yield preferred stock to expand Bitcoin holdings (CD)

• GrantiX, a multi-chain platform, launches its mainnet ecosystem (CD)

Regulation

• France passes amendment to tax crypto as ‘unproductive wealth’ (CT)

• Hong Kong to allow crypto exchanges to access global liquidity pools (TB)

• Fidelity gains FCA approval to offer UK investors access to crypto ETPs (BM)

• Zerohash secures MiCA license in the EU (CT)

• Swiss crypto bank AMINA secures MiCA license in Austria (CD)

• Crypto lobbying surges as industry gains political footing in Washington (CT)

• Denmark gives up on EU Chat Control after privacy backlash (CT)

Cybersecurity

• Berachain halts network to conduct emergency hard fork amid $128M Balancer exploit (TB)

Extra Reads

• A clear guide to WLFI, the TRUMP memecoin and USD1, explaining how token sales, trading fees and treasury deals produced $802M for Trump-linked ventures - Here’s how the Trump family turned crypto into an $800M gold rush

• High yields mean nothing without execution certainty, as institutional DeFi adoption demands predictable transactions over speculative returns at scale - Here’s why DeFi needs higher certainty, not higher yield

Chart of the Day

Trading volume on DEXs hit a record $613B in October, 20% of total crypto exchange activity

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.