Good Morning,

Here's a quick preview of today’s content: Crypto hacks hit record high in April, US seizes $500M in Iranian crypto assets, Crypto is the most muted topic on X, South Korea seeks 20-years for CEO in $169M crypto case, Polymarket taps Chainalysis to police insider trading, and so much more

Friday’s here – Let’s dive in.

Market Snapshot

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  • Bitcoin reclaims $76,000 as crypto markets catch breath after three-day slide, with total market cap up +1.1%

    • DOGE zooms +10% on the week as only top 10 token in green

    • BTC down -1.8% on week while ETH off -2%, with SOL and XRP dropping as oil hits four-year high

  • Crypto markets stage modest recovery as traders digest tech earnings

Prediction Markets

  • Bettors on Polymarket are predicting Bitcoin $60k or $80k first?

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

Headline Roundup
The major headlines driving crypto markets

  • Eric Trump disappears from troubled fintech’s public leadership (BBG)

  • Senators press Tether and Lutnick over loan to family trust (TB)

  • World Liberty Financial races toward 62B token unlock (CD)

  • FBI leads arrests of 276 in global 'pig butchering' scams (TB)

  • Senate votes to ban senators from prediction markets (DC)

  • Polymarket taps Chainalysis to police insider trading (TB)

  • Crypto is the most muted topic on X (DC)

  • Ark Invest offloads $6M of its own spot bitcoin ETF (TB)

  • PayPal elevates crypto to core business (TD)

  • Kraken launches crypto and tokenized stocks bundles (TD)

  • South Korea seeks 20-years for CEO in $169M crypto case (TB)

  • Stablecoins overtake Bitcoin in Latin America crypto purchases (CT)

  • Arbitrum starts vote to release 30,766 frozen ETH (DC)

  • 99.2% omni-chain stablecoin holders have less than $1,000 (TB)

  • Solana expands push with Europe research arm (CT)

  • Spain emerges as leading EURC retail market in Europe (CT)

  • Anchorage Digital and M0 team up for regulated stablecoins (CD)

  • Shinhan Card tests stablecoin payments on Solana (TB)

  • KAST appoints former SEC advisor to lead communications (TB)

Venture Capital

  • Blockworks, a crypto data platform, raises Series A extension at $192M valuation led by ParaFi Capital and Reciprocal Ventures (PS)

  • XO Market, a prediction-markets startup, raises $6M led by 20VC, Picus Capital, Coinbase Ventures, and more (CN)

  • Solana yield exchange Exponent raises $5M led by Multicoin Capital (TB)

  • Legend, a crypto trading platform, raises $3.5M led by Electric Capital (PM)

Access the complete VC deal flow on Fundable.

M&A Announcements

  • Bitcoin miner MARA acquires Long Ridge in $1.5B gas plant deal (TB)

Launches

  • Coinbase launches tokenized credit fund (TB)

  • MegaETH’s token launches (DC)

  • Circle launches nanopayments on mainnet (TD)

  • OKX rolls out protocol for AI agents (CT)

  • Germany’s AllUnity expands EURAU to Solana (CD)

Regulation

  • US seizes $500M in Iranian crypto assets (CT)

  • Crypto market structure bill nears May push (DC)

  • Gemini gains CFTC approval to expand prediction market (DC)

Cybersecurity

  • US, UAE and China dismantle 9 crypto scam centers (CT)

  • Crypto hacks hit record high in April (TB)

  • Wasabi Protocol hit by more than $5M exploit (TB)

Extra Reads

Chart of the Day

Crypto card spending jumps 500% since Sept 2024

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.