Good Morning,

Here's a quick preview of today’s content: A viral video of an Ibiza partygoer has gone ultra viral sending a coin along with it, Open AI’s GPT-5 launches, Trump fights against crypto debanking, markets rebound on new bullishness, Dubai dives into options, Dorsey’s Block reports eanrings, and so much more

Happy Friday – Let’s dive in 🚀

Market Snapshot

  • Crypto markets are rebounding, with major altcoins Ethereum, XRP, and Solana all seeing notable gains

  • Bitcoin ETFs pull In $91.6M, snapping four-day outflow streak (DC)

  • Approximately $8.7T are held in 401(k)s and could potentially flow into crypto with Trump’s new executive order (more on that below)

Market Predictions

  • Bettors on Kalshi are predicting how high will Bitcoin get this year?

  • Trade your predictions on a range of events, only on Kalshi

  • Sign up with code LIT and get a $20 bonus when you trade $100

Headline Roundup
The major headlines driving crypto markets

  • A viral tiktok of a man dancing nicknamed the 'Ibiza Final Boss' went so viral that the meme coin 'BOSS' 40x’d in a single day (YF)

  • U.S. President Donald Trump has signed an executive order to allow crypto investments in 401(k) retirement plans (CD)

  • Jack Dorsey's Block Inc. reports 14% YoY income growth in Q2, stock jumps in extended trading – full earnings breakdown here

  • Trump to allow crypto in 401(k) plans for US workers (CT)

  • Winklevoss twins deepen ties to Trump family with Bitcoin mining investment (CT)

  • China’s central bank is preparing to approve the country’s first renminbi-backed stablecoins (TD)

  • Chainlink launches on-chain reserve to buy back LINK tokens (TD)

  • Salomon Brothers say it has completed process of notifying 'abandoned' crypto wallets (CD)

  • New York's financial regulator fined Paxos $26.5M for compliance failures linked to its past partnership with Binance (DC)

  • Greenidge Generation has agreed to sell its Mississippi Bitcoin mining facility amid financial strain and Trump's latest tariff overhaul (TB)

  • Standard Chartered favours ETH treasury stocks over U.S. Spot ETFs (TD)

  • Ethereum daily transactions hit new high (BK)

  • Bitcoin miner CleanSpark reports record revenue in ‘most successful’ quarter ever (CT)

Venture Capital

  • DeFi project BOB (Build on Bitcoin) raises $21.1M from Castle Island Ventures, Ledger Cathay Fund, RockawayX, and others.

  • Scenius Capital raises $20M for new fund of emerging crypto VC funds (BW)

  • Tether acquires a minority equity stake in Spanish crypto exchange Bit2Me and is leading a $32.7M funding round (TB)

  • Cosmos Health, a Nasdaq-listed healthcare firm, said it has secured up to $300M in financing to launch an Ethereum treasury strategy (TB)

  • DL Holdings plans to raise roughly $83.2M through share placements to support its blockchain and crypto asset initiatives (TB)

M&A Announcements

  • Ripple to acquire Galaxy-backed stablecoin firm Rail for $200M (TB)

Launches

  • Sam Altman's OpenAI GPT-5 drops (WI)

  • Animoca Brands, a Web3 investment firm, is co-developing a real-world asset marketplace in partnership with Provenance Blockchain Labs (TD)

  • PancakeSwap launches a new “Stock Perpetuals” category that lets users trade on-chain futures linked to Apple, Amazon and Tesla shares with up to 25x leverage (TD)

Regulation

  • Trump signs executive order prohibiting debanking of crypto industry (DC)

  • Dubai grants first license for retail Bitcoin options (TD)

  • Dubai and UAE move to align crypto frameworks under new partnership (CT)

Cybersecurity

  • Australian regulators charge four in moving scam proceeds to crypto exchanges (DC)

  • Crypto user loses 3M USDT in phishing attack (TD)

  • The co-founders of the defunct crypto mining service HashFlare asked a US judge to spare them additional prison time after admitting to wire fraud (CT)

Extra Reads

Chart of the Day

Meme Dump

Pls send us crypto memes to be featured in the newsletter 🤝

🐦 Follow Us: Visit our X account for daily updates on all things web3, DeFi, & crypto.

💵 Litquidity Ventures: Accredited investors & qualified purchasers within the Litquidity community can gain access to alternative investments such as venture, late-stage growth, and private equity through Litquidity Ventures. Interested? Fill out this form.

☎️ Book a call with Lit: Want to pick Litquidity’s brain on business advice, insights, or just chat to say what’s up? Buy his time here.

📧 Launch your own newsletter: Have great content ideas and looking to launch your own publication? We highly recommend Beehiiv to get started.