Good Morning,

Here's a quick preview of today’s content: Wyoming goes all in on staeblcoins, SEC Chair has new statements about crypto strategy, Metamask makes a new partnership, Helium explores shift toward deflationary tokenomics. Polkadot courting institutional clients,

Happy Wednesday - Let’s dive in.

Market Snapshot

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• Both Ethereum and Bitcoin pulled back from recent highs, with analysts citing profit-taking after strong YoY gains and heightened geopolitical sensitivity around U.S.-Ukraine-Russia negotiations

  • Ethereum ETFs experienced $197M in outflows on Monday, marking the second-highest daily withdrawal figure ever, while pending ETH unstaking requests surged to $3.9B

• Bitcoin is currently trading at $113,000, down -2% on the day and nearly -5% over the past week. Meanwhile, Ethereum (ETH) is currently trading at $4,182, down -3.3% over the past day, which extends its weekly losses to just over -5%

Market Predictions

• Bettors on Kalshi are predicting what Trump Media will invest in 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}}

• Wyoming FRNT stablecoin on Solana to go live on Kraken (BW)

• Coinbase, DCG, Kraken, other crypto lobbyists unveil tax-exempt 'Education' nonprofit (DC)

• Illinois governor signs Midwest’s first crypto consumer protection laws covering ATMs, exchanges, and refund rights (DE)

• Polkadot launches capital markets division to court Wall Street (CT)

• Ethereum ETFs see $197M in weekly outflows as institutions reduce exposure (DE)

• Crypto exchange Bullish settles $1.15B IPO using stablecoins (TB)

• Solana hits 100K TPS milestone, showcasing record-breaking throughput on chain (DE)

• Harvard’s Rogoff admits 2018 Bitcoin $100 prediction was wrong (TD)

• Helium explores shift toward deflationary tokenomics to boost long-term utility (BW)

• Brazil to hold first hearing on proposed $19B Bitcoin Strategic Reserve (CS)

• Ark Invest Buys $21.2M of Bullish Shares and $16.2M Robinhood Shares (CD)

• Tassat Names Glen Sussman CEO as Firm Eyes Next Stage of Institutional Growth (CD)

• Latin America’s exchange flows grew ninefold in three years (CT)

• The Federal Reserve's recently sworn-in vice chair for supervision, Michelle Bowman, thinks the banking regulator needs to abandon an "overly cautious mindset" in adopting new rules for the crypto industry (CD)

• Polkadot Launches Institutional Arm to Bridge Wall Street and Web3 (CD)

• Scaramucci's SkyBridge eyes tokenizing $300M on Avalanche blockchain (TB)

• Sen. Tim Scott pushes crypto bill ahead of Sept. deadline but says Sen. Elizabeth Warren is 'standing in the way' (TB)

• Lloyds is hosting an auction for more than 280 Bitcoin-themed domain names, all in a single bundle (DC)

M&A Announcements

• Valantis acquires StakedHYPE, a major liquid staking platform on Hyperliquid (TB)

Launches

• MetaMask partners with TRON DAO to enable users to “interact directly with the TRON ecosystem” (TB)

• BTCS launches Ethereum “bividend” to reward bitcoin investors with ETH yield (BW)

• 1inch launches native cross-chain swaps between Solana and EVM chains (TB)

Regulation

• SEC Chair Paul Atkins announced a major shift in crypto strategy, stating the regulator will no longer pursue "regulation by enforcement" - see full statements here

• South Korea halts crypto lending platforms amid rising macro risk and tighter regulation (DE)

Extra Reads

• The Bitcoin price recently retraced nearly $10,000 after setting a new all-time high of $124,000 on August 14 - Has the Bitcoin Price Bull Market Topped?

• Crypto is tribal. That’s one of its best qualities. - Why crypto is headed for straight PvP

• Matt Odell, Bitcoin entrepreneur, podcaster and venture capitalist, sat down for an exclusive interview to discuss the future of the industry - The Secrets Behind Matt Odell’s Bitcoin Empire

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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.