Good Morning,

Here's a quick preview of today’s content: Kash Patel-linked store pushes crypto malware, SEC delays tokenized stocks exemption, FTX law firm pays $66M to settle fraud claims, Binance disputes WSJ report on Iran transactions, Bitcoin billionaire books first SpaceX Mars mission, and so much more

Happy Tuesday – Let’s dive in.

Market Snapshot

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  • Bitcoin dives below $75,000 for first time in a month as liquidations near $1B and ETFs bleed $2.26B

    • BTC ETFs shed $1.26B in worst week since Jan with 6-day loss streak

    • ETH funds see 10-day outflow streak while XRP ETFs attract inflows

    • HYPE funds surpass $69M in net inflows attracting millions

  • Bitcoin implied volatility drops to 7-month low as Warsh takes over Fed and Dow hits new all-time highs

Prediction Markets

  • Bettors on Polymarket are predicting lead bank in OpenAI's IPO?

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

Headline Roundup
The major headlines driving crypto markets

  • Blockchain.com files for US public offering (BBG)

  • Mark Cuban sells most of his Bitcoin (CD)

  • Binance disputes WSJ report on Iran transactions (TB)

  • Pope Leo releases first AI encyclical (DC)

  • NYT claims CFTC purged staff who questioned Trump-tied crypto firms (TB)

  • Congress hits Polymarket and Kalshi with insider trading probe (CD)

  • Harvard endowment cuts bitcoin holdings and drops ether (TD)

  • FTX law firm pays $66M to settle fraud claims (TB)

  • Galaxy's Novogratz and BitGo face off over $100M claim (TB)

  • Trump Media moves over $200M in BTC (DC)

  • Bitcoin billionaire books first SpaceX Mars mission (DC)

  • Robinhood Crypto COO leaves company (CD)

  • JPMorgan says tokenized funds unlikely to grow beyond 15% (TB)

  • Fed seeks input on limited payment accounts (CT)

  • US government makes $2B bet on quantum (DC)

  • Coinbase introduces perps tracking national security indexes (TB)

  • NHL and CFTC team up on prediction markets (TB)

  • Polymarket eyes Japan market entry (TB)

  • Satoshi-era whale moves $200M in BTC (TB)

  • a16z-backed Syndicate Labs winds down (DC)

  • Tax evaders are using crypto to dodge authorities (CT)

  • Ethereum crypto influencer game shuts down (DC)

Venture Capital

  • ARC blockchain raises $222M led by BlackRock, Apollo, a16z crypto, ARK Invest and Intercontinental Exchange (CT)

  • SignalPlus, a crypto derivatives platform, raises $40M led by HashKey Capital (PN)

  • Perp DEX and PopDEX, perpetual trading platforms, raise $30M led by Foresight Ventures (PS)

  • TownSquare, a DeFi protocol, raises $16.25M from World Liberty Financial, OKX Ventures, and more (CN)

Access the complete VC deal flow on Fundable.

M&A Announcements

  • MoonPay acquires Decent.xyz, a cross-chain and liquidity company (TB)

Launches

  • NYSE owner and OKX launch oil futures (BBG)

  • Kraken secures license to launch in Dubai (DC)

  • Coinbase launches perp index futures (TD)

  • MoonPay adds crypto purchases into ChatGPT (DC)

  • Binance launches SpaceX pre-IPO perps (CD)

  • Hamilton ETFs files for leveraged Bitcoin ETF (CT)

Regulation

  • SEC delays tokenized stocks exemption (DC)

  • Bill aims to place Bitcoin reserve into law (DC)

  • SEC reviews delayed prediction market ETFs (TB)

  • Crypto PAC announces endorsements for midterms (CT)

  • ECB pushes back on euro stablecoin proposals (CT)

  • Georgia taps Tether for stablecoin (DC)

Cybersecurity

  • Kash Patel-linked store pushes crypto malware (DC)

  • Game founder's wife targeted in crypto kidnapping (DC)

  • Polymarket hit by $700K wallet exploit (DC)

  • 70% of crypto wrench attacks happen in France (CT)

  • StablR stablecoins exploited after minting compromise (TB)

Extra Reads

Chart of the Day

Bitcoin demand falls to its most bearish level of the year

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.