Trump’s AI Crypto Vision

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Here's a quick preview of today's content: Engineer gets 32 months for bitcoin extortion, Russia's Sberbank approved to custody bitcoin, Coinbase relaunches Coinbase Pro, GSR commits $100M to onchain credit business, Wells Fargo in talks with Payward for crypto trading, and so much more

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Market Snapshot

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• Bitcoin dips below $83,000 to an October low as an oil shock and rising borrowing costs rattle markets

  • BTC drops as oil jumps on Iranian tanker attacks and a bond selloff resumes, with crypto liquidations hitting $550M

  • Only nine of the top 125 tokens rise

  • ETH extends losses and the ZEC ETF tops $1B

• Bitcoin edges up from its worst levels as yields pull back from the highs

Prediction Markets

• The postseason is heating up, which team is winning the World Series?

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

• Eric Trump says AI will drive crypto growth (BBG)

• Pokemon collector found guilty in $55M crypto hack (BBG)

• Wells Fargo in talks with Payward for crypto trading (CD)

• Trump's WLFI plans USD1 payments (CT)

• Tether signs deal with Kazakhstan's central bank (DC)

• US government moves $103M in seized crypto (DC)

• Robinhood adds $25M worth of bitcoin (TB)

• Hunter Biden confirms LAPTOP token 'not a rug' (CT)

• Ledger launches bitcoin loans (DC)

• Bitmine to end Ethereum buying (DC)

• GSR commits $100M to onchain credit business (CD)

• US investors want to up their crypto holdings (BM)

• Polygon taps TRON for cross-border transfers (CD)

• Circle brings payments to SAP customers (CT)

• Cardano gives issuers power to freeze assets (CD)

• Kalshi's 15-min gold markets overtake Ether (CT)

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M&A Announcements

• Decentralized exchange Orca merges with lending platform Loopscale (TB)

Launches

• Coinbase relaunches Coinbase Pro (TB)

• Binance adds JPMorgan and Eli Lilly (TD)

• Cardano's token standard goes live (TD)

• Lido unveils lending protocol (TD)

• Jito's JTX plans mobile app (TB)

Regulation

• Russia's Sberbank approved to custody bitcoin (BM)

• DOJ invokes ruling in Roman Storm acquittal (CT)

• Europol warns crypto wallets are risk for quantum attacks (DC)

Cybersecurity

• Engineer gets 32 months for bitcoin extortion (DC)

• Hackers use AI to raid a megachurch's database (DC)

• Trader Frogman drained of $4M (TD)

Extra Reads

• AI has quietly become load-bearing for the U.S. economy, an $800B investment boom now propping up GDP growth and the stock market, which raises an uncomfortable question: has the build-out gotten too big to pause? - Here's what an AI slowdown could do to the economy

Chart of the Day

Bitcoin available on exchanges declines to its lowest level in 7 months

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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.