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Here's a quick preview of today’s content: North Korean fake recruiters steal $10.7M in crypto, CFTC kicks off crypto rulemaking, Binance launches 24/7 FX perps, Kevin O'Leary buys crypto again, NYSE spends year testing Avalanche tech for tokenization, and so much more

Looking for institutional guidance on your firm's crypto strategy? Speak to the team at Alvarez & Marsal Crypto. They offer comprehensive advisory services on everything from stablecoin adoption, tokenization and custody to M&A, compliance and risk. Book a call!

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 (7/3/25), Gannon’s Crypto Portfolio is up +21.4% Gannon’s AI Fund is up +62.3%

  • Bitcoin surges over $81,000 in a fresh short squeeze, shaking off the Clarity Act failure and Fed rate hike

    • XRP surges and NEAR adds +32% as tokenization and Layer-2 tokens lead the advance

    • BTC ETFs eke out a positive week with a $433M inflow, though ETH funds snap a four-week streak

  • Crypto rallies through Asia and Europe with 111 of the 125 largest non-stablecoin tokens higher

Prediction Markets

  • What will Bitcoin’s price be at the end of 2026?

  • Deposit $10 and get a $20 bonus with code LIT on signup, only on the Polymarket US app

Headline Roundup
The major headlines driving crypto markets

  • Treasury sanctions exchange behind Iran's bitcoin tolls (DC)

  • Polymarket faces $10M fraud attempt (TB)

  • Seven arrested over $7.1M crypto launder killing (DC)

  • Coinbase files to list single-stock perps (DC)

  • Crypto platform Gemini down -80% from its IPO (CD)

  • Visa closes memecoin credit card loophole (DC)

  • Kevin O'Leary buys crypto again (TB)

  • Ondo Finance succession gets messier as daughter alleges alcoholism (CD)

  • NYSE spends year testing Avalanche tech for tokenization (TB)

  • Kalshi files for stock perpetual futures (CT)

  • Polymarket hires ex-Zora CEO for onchain products (TD)

  • Bastion wins approval for trust bank charter (CT)

  • Grayscale makes its Zcash ETF more affordable (DC)

  • Zcash targets November upgrade (CD)

  • ZetaChain votes to shut down network (TB)

A Message from Alvarez & Marsal Crypto

A&M Crypto: Institutional Digital Asset Advisory, Executed at Scale

Alvarez & Marsal's Crypto practice is the leading global digital asset advisory firm, with 90+ offices worldwide and operators who've executed through every market cycle. A&M combines operational, financial, and industry expertise to take institutions from strategy to deployment: stablecoin adoption, tokenization and RWAs, custody and infrastructure, M&A advisory, IPO readiness, risk and compliance, restructuring and much more.

A&M's clients include half the Fortune 500 and the leading crypto-native and TradFi firms in the industry.

Whether you’re looking to adopt stablecoins, standing up digital asset infrastructure, or navigating tokenization/RWAs… A&M has done it before, at scale across finance, operations, engineering, commercialization, risk and compliance.

Talk to A&M Crypto

Venture Capital

  • Stablecoin payments firm dtcpay closes $25M with SBI Group (TB)

Access the complete VC deal flow on Fundable.

Launches

  • Binance launches 24/7 FX perps (CT)

  • REX launches 2x leveraged ETF (CT)

Regulation

  • CFTC kicks off crypto rulemaking (DC)

  • ECB President blocks Binance’s EU license (CD)

Cybersecurity

  • North Korean fake recruiters steal $10.7M in crypto (CT)

  • Hong Kong jails ex-banker over $1.6B crypto bribes (CT)

  • Haruko hit by cyberattack affecting 15 clients (CD)

Extra Reads

Chart of the Day

Market cap of onchain tokenized stocks hits a record high of $2.9B

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.