Strategy Adds $525M Cash

Good Morning,

Here's a quick preview of today's content: Brazilian police bust cocaine traffickers in crypto probe, Republicans hope for Dem support on Clarity Act, Payward acquires Magic Labs' wallet business, Crypto platform Uphold cuts 17% of staff, Circle buys IBM blockchain patent estate, and so much more

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 +3.8% Gannon's AI Fund is up +48%

• Bitcoin climbs back above $65,000 as US and Iran hold fire, sending oil tumbling -5%

  • BTC ETFs shed $465M over two days led by BlackRock's IBIT, though still posting a third straight weekly inflow

  • ETH ETFs pull $104M, as SOL and AVAX get busier and cheaper

• Ballooning US debt sends investors to Bitcoin and gold as shelter from dollar devaluation

Prediction Markets

• Bettors on Polymarket are predicting Fed decision in July?

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

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

• Nvidia, Microsoft and IBM launch AI alliance (DC)

• Strategy adds $525M to cash reserve (DC)

• New York AG warns Clarity Act weakens crypto enforcement (TB)

• Circle buys IBM blockchain patent estate (DC)

• Brian Armstrong criticizes crypto startups that rebrand to AI (CD)

• Shared Claude chats are published on Google (DC)

• Bitmine nears goal of controlling 5% of ETH (DC)

• NFL urges CFTC to strengthen sports prediction market rules (TB)

• NYC property database puts residents at risk (DC)

• Crypto platform Uphold cuts 17% of staff (CD)

• Cantor advises crypto bank AMINA for IPO (CD)

• Securitize expands regulated platform (TB)

• Binance disappears from Google store in certain countries (CT)

• Lido begins consolidating $16B staked ETH (TB)

• Phantom ends Monad support (TD)

M&A Announcements

• Crypto giant HashKey merges its HashKey Exchange and HashKey Global (CT)

• Fanatics acquires exchange and clearinghouse Water Street Labs (DC)

• Kraken parent Payward acquires Magic Labs' wallet business (TB)

Launches

• Ondo launches execution network (TB)

• Cross River enables P2P payments (CT)

Regulation

• Republicans hope for Dem support on Clarity Act (BM)

• Tether's gold token receives Shariah certification (CT)

Cybersecurity

• Brazilian police bust cocaine traffickers in crypto probe (CT)

• SparkKitty malware targets wallet seed phrases (DC)

Extra Reads

• Crypto has always been the student, borrowing Wall Street's tools, but perpetual futures may be the first idea flowing the other way, as 24/7 crypto markets start reshaping how traditional oil and commodity desks trade - Here's how crypto is rewriting the way Wall Street trades

• A passive yield farm and a discretionary hedge fund can hide behind the same onchain interface, and as vault deposits swell past $130B, regulators are starting to ask which is which - Here's why crypto vaults are facing a reckoning

Chart of the Day

Crypto deal-making falls as only 44 deals were announced in July

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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.