Hyperliquid Goes Mainstream

Together with

Good Morning,

Here's a quick preview of today's content: North Korean hackers move tens of millions on Hyperliquid, South Korea gives every citizen free AI access, CME launches crypto index, Texas pulls plug on Flock surveillance funding, Strategy buys $370M of bitcoin, 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 Tuesday - 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 +13.6% Gannon's AI Fund is up +56.2%

• Bitcoin holds steady above $78,000 as U.S. strikes on Iran rattle stocks and lift oil

  • BTC remains on track for +25% August gain, its best month since November 2024

  • XRP ETFs extend their inflow streak to nine days, pulling in $1.6B since launch

  • Robinhood Chain hits a record $989M in daily DEX volume and tops ETH in daily app revenue

  • SOL fees hit a record as validators double the pace of inflation cuts

Prediction Markets

• Who's got the best AI model?

• 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}}

• Hyperliquid in talks with Kraken parent on US market entry (BBG)

• Crypto.com lending platform hit by $74M hack (BBG)

• George Santos gets banned on Kalshi (DC)

• Strategy buys $370M of bitcoin (DC)

• Texas pulls plug on Flock surveillance funding (DC)

• NYSE parent ICE partners with tZERO for tokenized securities (TB)

• Former SEC and CFTC officials push for crypto perps (DC)

• Russia's Sberbank sees $46B in crypto trading (DC)

• Strategy opposes MSCI proposal (BM)

• Tom Lee's Bitmine buys $131M of ETH (DC)

• Sony argues that digital games can't be owned (DC)

• Strive adds $143M in bitcoin (DC)

• Luke Dashjr exits mining pool Ocean (CD)

• Hyperliquid and Pump.fun account for 90% of buybacks (CT)

• Fogo mainnet stopped for 46 hours with no restart time (TD)

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

• OpenCheck, an authentication startup, raises $3M led by Amber Group (SN)

Access the complete VC deal flow on Fundable.

Launches

• CME launches crypto index (TD)

• Webull expands crypto trading into Canada (CT)

• OpenSea adds Solana NFT trading (TB)

• Prediction markets go live on Hyperliquid (BL)

Regulation

• South Korea gives every citizen free AI access (DC)

• Ireland bars crypto from state savings (DC)

• Japan requests tax exemption for stablecoins (CT)

Cybersecurity

• North Korean hackers move tens of millions on Hyperliquid (CD)

• More Markets reserve drained for $9.3M (CT)

• Ontology halts mainnet over security concern (TD)

Extra Reads

• For a thousand years, moving money has meant finding ways to send value without shipping the gold itself, but every time finance erased friction, it opened a new, more sophisticated way to steal - Here's the 1,000-year battle to move money safely

Chart of the Day

60% of crypto platforms exploited since 2025 completed security audits

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.

Gannon's Crypto Portfolio: Trade alongside Gannon's crypto on Autopilot

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.

*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.