World Liberty Gets Banking Charter

Good Morning,

Here's a quick preview of today's content: 23 charged over crypto laundering tied to $11M scam ring, Crypto PAC has $12M stake in Senate primary, State Street launches money market fund, Tribal coalition files to keep prediction markets off native land, Binance prepares for EU exit with license in limbo, and so much more

Happy Wednesday - Let's dive in.

Market Snapshot

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• Bitcoin holds near $66,000 as accumulation returns with buyers adding 250K BTC

  • HYPE hits all-time high as ETFs draw $172M since launch, with UNI and WORLD bucking crypto slump

  • BTC rises after Bank of Japan hikes interest rates to 31-year high

  • Tokenized asset market tops $43B while DeFi lending and DEX fees slump

• Profit-taking hits Bitcoin, ether, and solana as traders wait on Iran signing

Prediction Markets

• Bettors on Polymarket are predicting Solana price in June?

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

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

• SpaceX acquires AI startup Cursor for $60B (DC)

• World Liberty Financial slated to receive banking charter (BL)

• Binance prepares for EU exit with license in limbo (BBG)

• Robinhood trims headcount by 10% (DC)

• Race to turn AI into commodity spurs crypto boom (BBG)

• BlackRock launches new Bitcoin ETF (TB)

• Coinbase to launch tokenized stock trading and options (DC)

• Senators push Treasury to uphold authority under GENIUS (TB)

• Ethereum's biggest upgrade moves into final stages (CD)

• Tribal coalition files to keep prediction markets off native land (TD)

• Pump.fun activity craters 80% in three months (TB)

• Ledn says bitcoin-backed lending could reach $1T (TB)

• Treasury firm Capital B mulls bitcoin credit instrument (TB)

• Tether Gold opens options market on Bybit (CD)

• Squid adds Ripple's stablecoin for cross-chain swaps (TB)

Venture Capital

• Ripple participates in payments company Flutterwave's Series E (TB)

Access the complete VC deal flow on Fundable.

M&A Announcements

• Inveniam Capital Partners acquires blockchain firm MANTRA (TB)

Launches

• State Street launches money market fund (TB)

• Coinbase unveils AI advisor (TB)

• Humanity Protocol launches token airdrop (TD)

Regulation

• Crypto PAC has $12M stake in Senate primary (CT)

• US watchdog urges FDIC to coordinate crypto oversight (CT)

Cybersecurity

• 23 charged over crypto laundering tied to $11M scam ring (DC)

• India charges 8 in $20M Coinbase scam (TB)

Extra Reads

• The first real AI crypto economy may not involve trading at all, just software paying other software for data, compute, and APIs, no human in the loop - Here's what happens when AI starts using crypto wallets

• Strategy's dividend stock has slid near record lows as bitcoin slumps and investors flee to a rival treasury company's higher-yielding alternative - Here's why Strategy's crypto dividend stock is crashing

Chart of the Day

Bitcoin supply in loss climbs above 50%

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.