Good Morning,

Here's a quick preview of today’s content: Former Google engineer convicted of stealing AI secrets for China, Crypto billionaires deploy $40M to fight California wealth tax, Brian Armstrong snubbed by top bank execs in Davos, CZ denies crypto market crash accusations, US imposes sanctions on crypto exchanges tied to Iran, and so much more

Happy Monday - 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 +19.73%

• Crypto capitulation deepens as Bitcoin breaks $80K

  • BTC plunged to the $75K range, hitting a nine-month low as confidence cracked

  • Liquidations topped $2.5B, with single traders losing up to $220M; ETH, SOL, DOGE and XRP fell -7%

  • ETF outflows surged: $800M in a day and $1.6B+ for the month

  • Sentiment hit extremes: BTC “fear” at 2026 highs, total crypto mcap slipped toward $2.9T, and BTC fell out of the global top-10 assets

• Overall, a broad risk-off unwind across crypto, metals, and equities drove forced selling

Prediction Markets

• Bettors on Polymarket are predicting Ethereum flipped in 2026?

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

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

• UAE Sheikh secretly acquires stake in Trump's World Liberty Financial (TB)

• US imposes sanctions on crypto exchanges tied to Iran (CD)

• Brian Armstrong snubbed by top bank execs in Davos (CD)

• AI agents launch social network and spawn a digital religion (DC)

• Michael Saylor’s bitcoin stack officially underwater (CD)

• CZ denies crypto market crash accusations (BBG)

• Former Google engineer convicted of stealing AI secrets for China (DC)

• Bitcoin slump cuts millions from Winklevoss PAC donation (BBG)

• Crypto billionaires deploy $40M to fight California wealth tax (CT)

• Coinbase shareholder lawsuit over insider trading proceeds (CT)

• Binance pledges $1B fund to bitcoin (TB)

• Infamous whale exits ETH position for $250M loss (TB)

• Tom Lee’s BitMine sits on $6B loss from ether (CD)

• Vitalik Buterin spends $43M on Ether development (DC)

• Tether’s annual profit drops 23% in midst of fundraising (BBG)

• Tokenized equities market explodes by 3,000% in single year (CD)

• Bitcoin mining profits hit 14-month low (DC)

• Bitwise says bitcoin could hit $6.5M in 20 years (CD)

• SoFi posts $1B revenue quarter amid crypto expansion (TB)

• Nubank wins US approval to form national bank (CT)

• WisdomTree reports $2.24B crypto AUM (TB)

Venture Capital

• KRAKacquisition Corp, a Kraken-linked SPAC, raises $345M in upsized IPO (DC)

• Stablecoin platform OSL Group raises $200M equity financing round from undisclosed investors (YF)

• Privacy blockchain ZKP raises $100M from group of unnamed blockchain-focused investors (CA)

• Pave Bank and Bybit raise $39M Series A round from Tether and others (TP)

• Crypto startup Prometheum raises $23M funding from unnamed high-net-worth investors and institutions (BW)

• MegaETH, an Ethereum blockchain, raises $20M led by Dragonfly Capital with angels Cobie and Vitalik Buterin (DS)

• Token-issuance platform Whetstone Research raises $9M seed round led by Pantera Capital with participation from Variant, Figment Capital and Coinbase Ventures (PM)

Access the complete VC deal flow on Fundable.

Launches

• Ripple rolls out treasury platform (CD)

• Infinex token launches at $300M valuation (TD)

• Amboss unveils Lightning-native P2P platform (TB)

• NinjaTrader launches in Europe (TB)

• Lido rolls out stVaults on mainnet (TB)

• DEX Nado airdrops official NFT collection (TD)

• Plan B Network launches Bitcoin pitch series (BM)

Regulation

• Democrats press DOJ deputy over crypto holdings (DC)

• Crypto and bank firms to hash out stablecoin rewards at summit (TB)

• Tennessee weighs Bitcoin reserve bill (BM)

• EU calls on 12 countries to implement crypto tax rules (CT)

• Hong Kong submits draft bill for crypto framework (CT)

• India faces pressure to rethink crypto taxes (DC)

• Latin America wins battle to offer crypto custody (CD)

Cybersecurity

• DOJ finalizes $400M forfeiture tied to darknet crypto mixer (TB)

• CrossCurve bridge exploited for $3M across multiple chains (TB)

• Step Finance investigates $29M treasury wallet compromise (TB)

• Unclaimed ETH from hack funds new security initiative (CT)

Extra Reads

• President Donald Trump has nominated Kevin Warsh to replace Jerome Powell, elevating a former Fed governor with mixed views on crypto - Here’s what Trump’s Fed pick means for crypto

• Holders with large troves of unreported crypto held offshore are rightly getting nervous about new and invasive tax-reporting regimes - Here’s why our offshore crypto isn’t safe from the taxman

Chart of the Day

ETFs now hold around 6.5% of Bitcoin and Ethereum

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.