Government Moves $288M

Good Morning,

Here's a quick preview of today's content: Former LASD deputy jailed for obstructing crypto probe, US-UK taskforce unveil crypto roadmap, White House crypto adviser Patrick Witt takes leave, UK defers capital gains tax on DeFi lending, Wikipedia blackout hurts how AI understands crypto, and so much more

Happy Wednesday - 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 +5.4% Gannon's AI Fund is up +52.9%

• Bitcoin jumps above $64,000 as June CPI falls -0.4%, the largest monthly drop since 2020

  • BTC ETFs post $425M outflow as US-Iran escalation weighs on crypto

  • XRP and ETH bulls get louder as prices fall, signaling more trouble ahead

  • Cooler-than-expected inflation strengthens the case for rate cuts

• Bitcoin's great rotation continues as long-term holders pass supply to new buyers, while mining production slips in June

Prediction Markets

• Bettors on Polymarket are predicting largest company end of July?

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

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

• Lummis says Clarity Act coming 'in next few days' (TD)

• White House crypto adviser Patrick Witt takes leave (CT)

• US government moves $288M seized crypto to Coinbase (DC)

• DeepMind says AGI will be bigger than electricity (DC)

• CleanSpark shares jump on $6.6B data center deal (BBG)

• Prediction markets crush sportsbooks in $50B breakout (CD)

• Polymarket partners with crypto firm during World Cup (BBG)

• Over 95% of Coinbase's code written with AI (CT)

• JPMorgan says Hyperliquid's rise threatens Circle (CD)

• Ark Invest adds $14M in Circle (TB)

• Binance bets on becoming crypto 'super app' (CD)

• Bitmine generates $46M from ETH staking (CT)

• Wikipedia blackout hurts how AI understands crypto (CD)

• Bitmine and SharpLink back Ether Foundation spin-out (TB)

• European Central Bank taps providers for digital euro (TB)

• Japanese card network taps Circle for stablecoins (CD)

• Builder-deployed markets overtake crypto on Hyperliquid (TD)

• Compute startup Boundless expands network to AI (TB)

• Blockmaze receives Guinness title for licences (FM)

Venture Capital

• AI project Nous Research in talks to raise $75M (TB)

• Flex, an AI private bank, raises $70M led by Halo Fund III with participation from Portage, Wellington Management, and more (TF)

• Velocity, a stablecoin treasury, raises $38M led by Dragonfly and FirstMark with participation from Activant Capital, Capital One Ventures, and others (BW)

• Tether leads $7M round in infrastructure provider Pact Labs (TB)

Access the complete VC deal flow on Fundable.

Launches

• US-UK taskforce unveil crypto roadmap (TB)

• Galaxy blends DeFi in new borrowing product (TB)

Regulation

• Banking groups urge Senate to strengthen provisions (TB)

• UK defers capital gains tax on DeFi lending (DC)

• CFTC orders Kalshi to honor Michigan trades (TB)

• South Korea tests tokenized bonds (CT)

Cybersecurity

• Former LASD deputy jailed for obstructing crypto probe (TB)

• Argentine judge orders freeze of 25 LIBRA crypto wallets (TD)

Extra Reads

• Spot Bitcoin ETFs didn't create institutional demand, they removed the custody and barriers that kept allocators who already wanted exposure stuck on the sidelines - Here's how Bitcoin ETFs changed institutional adoption

• At 1.4B in supply against USDT's 184B, Ripple's RLUSD isn't competing on size, it's betting that a trust charter and federal oversight matter more to institutions than liquidity does - Here's what RLUSD is and how it stacks up

Chart of the Day

Short-term BTC holders realize their biggest losses in two weeks

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.