Good Morning,

Here's a quick preview of today’s content: Wyoming's 'frontier' stablecoin debuts, Crypto scam kingpin arrested in Cambodia after $12B seizure, Committees set hearing for crypto market structure vote, Nike sells off digital sneaker business, Ripple reaffirms no IPO plans, and so much more

Happy Thursday - 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 +25.45%

• Crypto markets cool as BTC ETF flows turn negative and price action wavers

  • Spot BTC ETFs posted $243M in outflows, reversing strong early-year inflows and marking the first negative flow day of 2026

  • Bitcoin dipped toward $91K as the rally lost momentum and traders weighed labor and macro data

  • ETH and XRP slipped modestly amid quiet holiday trading and macro uncertainty

  • Spot ETH and altcoin ETFs saw moderate inflows even as BTC products lagged

• Price structure remained fragile as market digested mixed signals on flows, liquidity, and macro stress

Prediction Markets

• Bettors on Polymarket are predicting Discord IPO closing market cap?

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

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

• Trump crypto venture World Liberty applies for bank charter (BBG)

• Polymarket strikes deal to supply data to WSJ and Barron’s (TB)

• JPMorgan launches JPM Coin on Canton (DC)

• Committees set hearing for crypto market structure vote (TB)

• Nike exits NFTs, sells off digital sneaker business (CD)

• Native American groups back lawsuit against Kalshi and Robinhood (BBG)

• Lloyds completes UK bond trade using tokenized deposits (CD)

• Ripple reaffirms no IPO plans (TB)

• Wealth transfer boosts crypto adoption among young investors (CT)

• Riot offloads $162M worth of Bitcoin (TB)

• Ethereum raises data capacity in scaling upgrade (DC)

• YZi Labs criticizes CEA in boardroom conflict (TB)

• Bitchat dev challenges Uganda’s claim to shut down app (CT)

• Gate adds AI market tools for traders (CT)

• IBM crypto partner integrates Concordium (CT)

• Hedge fund Karatage hires former IMC exec (CD)

Venture Capital

• Musk's xAI raises $20B with backing from Nvidia and Cisco (DC)

• Layer 2 Babylon raises $15M from a16z crypto to fund the buildout of trustless Bitcoin vaults (TB)

• ZenChain, a cross-chain interoperability startup, raises $8.5M led by Watermelon Capital, DWF Labs, and Genesis Capital (AI)

• Real-world asset tokenization startup MSV Protocol raises $1M from undisclosed venture funds and angel investors (SP)

• Ubyx, a stablecoin settlement infrastructure startup, receives an undisclosed strategic investment from Barclays (CD)

Access the complete VC deal flow on Fundable.

M&A Announcements

• Blockchain firm Fireblocks acquires TRES Finance, an onchain accounting platform (TB)

Launches

• Wyoming's 'frontier' stablecoin debuts (DC)

• Rumble debuts crypto wallet for creator tips (DC)

• Binance Futures launches silver perp contracts (CD)

• CoinFlip launches payroll-based crypto investing (CT)

• Former Brazil bank official unveils real-pegged stablecoin (CD)

• Flare launches XRP spot exposure on Hyperliquid (TB)

• Solana Mobile sets launch date for SKR token (CD)

Regulation

• FINRA taps crypto policy figures for its board (TB)

• Crypto advocates renew stablecoin rewards push (DC)

Cybersecurity

• Crypto scam kingpin arrested in Cambodia after $12B seizure (DC)

Extra Reads

• Though consequential Senate committee votes may be coming, the talks over the bill's language haven't yet satisfied fundamental requests from Democrats - This is what's in the way of crypto structure bill harmony

• Analysts believe privacy tokens such as zcash and monero will continue to outperform this year, but they will likely face delisting risks and conflicts with banks over regulatory issues - Here’s why experts tip privacy tokens to continue outperforming

Chart of the Day

Bitcoin’s correlation with the Japanese Yen hits record high

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.