Good Morning,

Here's a quick preview of today’s content: Europol secures 500 BTC tied to Irish drug trafficking, Tether acquires SoftBank’s stake in Twenty One Capital, Crypto campaign cash floods primaries, Sinaloa cartel sanctioned over crypto fentanyl trafficking, Funeral company reveals $33M loss on ether, and so much more

Happy Thursday - Let’s dive in.

Market Snapshot

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• Bitcoin rallies through $77,000 as ETH and XRP rebound on Senate curbing Trump's war powers

  • BTC grows dependent on Michael Saylor despite ETF outflows topping $2B

  • HYPE crosses $50 as ETFs draw $22.3M in inflows

• Miners tied to AI rise as Nvidia posts big earnings beat, with SpaceX filing for massive IPO

Prediction Markets

• Bettors on Polymarket are predicting Dogecoin price in May?

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

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

• Trump's Truth Social pulls Bitcoin ETF from review (DC)

• SpaceX IPO filing shows $1.45B bitcoin position (DC)

• Sinaloa cartel sanctioned over crypto fentanyl trafficking (DC)

• Hunter Biden accepts Bitcoin for his artwork (BM)

• Crypto campaign cash floods primaries (CD)

• Telegram group at center of insider-trading in Terra collapse (CD)

• Fed proposes limited master accounts (CD)

• Funeral company reveals $33M loss on ether (CD)

• Polymarket moves to list parlays (CD)

• South Carolina bans CBDCs (DC)

• Securitize posts record Q1 revenue (TB)

• Crypto firm Copper looks to sell for $500M (CD)

• Coinbase expands branded stablecoin business (CT)

• Crypto firm Nexo sponsors $3M golf tournament (DC)

• Flipcash taps Coinbase's SaaS platform (TB)

• MoneyGram named validator for Tempo blockchain (TB)

• Ark Invest buys $4.4M in Bullish shares (TB)

• Bitcoin firm Nakamoto plots stock split (DC)

Venture Capital

• Derivatives venue Variational raises $50M led by Dragonfly (TB)

• Agentic finance startup Catena Labs raises $30M led by Acrew Capital and a16z crypto (TB)

• Tether and Gnosis lead $4.4M seed round for crypto wallet Sorted Wallet (TB)

Access the complete VC deal flow on Fundable.

M&A Announcements

• Tether acquires SoftBank’s stake in Twenty One Capital (BBG)

• Crypto company Zama acquires token manager TokenOps (TB)

Launches

• Fireblocks launches agentic payment support (CT)

• AllUnity plans Swedish stablecoin (TB)

• Qivalis expands euro stablecoin to 37 banks (TB)

Regulation

• BofE outlines tokenization vision for UK (TB)

• Singapore revokes Bsquared crypto permit over breaches (BBG)

• European Commission launches MiCA review (TB)

• Plume secures license for onchain manager (TB)

Cybersecurity

• Europol secures 500 BTC tied to Irish drug trafficking (TB)

• GitHub investigates unauthorized access to system (CT)

• Bankr disables transactions after hack (CT)

Extra Reads

• Shai-Hulud doesn't attack developers directly, it infects the tools and pipelines they use to build software, turning the entire supply chain into a network for malicious code - Here's what you need to know about the malware spreading

Chart of the Day

Stablecoin supply hits new all-time high over $323B

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.