$352M Crypto Exchange Hack

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Good Morning,

Here's a quick preview of today's content: UK couple attacked in crypto home invasion, CFTC updates guidance on tokenized assets, Ondo launches onchain portfolio tokens, Morgan Stanley sees tokenized assets reaching $2.3T, IBM connects to Swift's blockchain ledger, and so much more

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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 +24% Gannon's AI Fund is up +66.1%

• Bitcoin falls below $84,000 as the 10-year Treasury yield hits a 19-year high

  • BTC slides as bond yields hit their highest level since 2007, with traders now pricing in four Fed rate hikes

  • DOGE drops -8% as the breakout cools, though ONDO leads an overnight altcoin bid and LTC has its moment

  • BTC ETFs add $347M, with traders bracing for a $15B options expiry

• Institutions held their Bitcoin through the -50% drawdown and some bought more, though only four of the top 20 treasury firms trade above their holdings value

Prediction Markets

• Which companies are going public this year?

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Headline Roundup
^{_{The major headlines driving crypto markets}}

• Bitget halts withdrawals after $352M hack (BBG)

• Fed unveils stablecoin rules (DC)

• IBM connects to Swift's blockchain ledger (TB)

• Brooklyn man gets 12 years over $16M Coinbase scam (DC)

• UK's largest banks complete first interbank transactions (CD)

• ARK teams with Securitize to tokenize venture fund (CD)

• Ondo Finance tries to sell after founders death (CD)

• Morgan Stanley sees tokenized assets reaching $2.3T (TD)

• Bullish, Alpaca and Apex Fintech push tokenized stocks (CD)

• Solana Foundation hires Binance's former CMO (DC)

• Elliptic launches product for cops to read crypto wallets (DC)

• Sequans exits Bitcoin treasury strategy (CT)

• RockawayX rolls out venture funding for tokenized products (CD)

• Solana treasury SkyAI keeps board after protest (TB)

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Venture Capital

• HIFI, a stablecoin payments company, raises $37M led by Left Lane Capital (TB)

Access the complete VC deal flow on Fundable.

Launches

• Ondo launches onchain portfolio tokens (TB)

• Tempo launches tool router (BL)

• DoubleZero brings fiber market data to Hyperliquid (CT)

Regulation

• New York files lawsuit against Polymarket (DC)

• CFTC updates guidance on tokenized assets (CT)

• EU warns quantum poses threat to blockchain (CD)

Cybersecurity

• UK couple attacked in crypto home invasion (DC)

• Crypto casino Duelbits goes offline after $7M hack (CD)

• Payy halts network after $1.92M drain (TD)

Extra Reads

• The exchange that invented crypto's perpetual swap just closed for good, undone by a U.S. criminal case and rivals, even as the instrument it created has grown into the dominant product in all of crypto - Here's why the death of BitMEX marks the end of an era

Chart of the Day

Bitcoin ETF year-to-date flows turn positive for the first time since April

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.