Wall Street Tokenizes Bonds

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Good Morning,

Here's a quick preview of today's content: UK crypto trader loses $800k in knife assault, South Korea blocks 27 crypto exchanges, Bitcoin whale moves $378M after six years, Interactive Brokers adds Ethereum staking, Ledger finds implant that steals recovery phrases, and so much more

Spreadwise is revolutionizing liquidity for HNWIs by offering fixed-rate liquidity at sub-4% rates. This is a game-changer for investors who want to access credit without disrupting their portfolios. If you manage wealth for yourself or clients, you should give it look.

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 +21.1% Gannon's AI Fund is up +67.9%

• Bitcoin rebounds above $83,000, decoupling from tumbling Korean stocks

  • BTC slid as crypto liquidations surged past $770M

  • STX surges +50% and APT gains +51% over four weeks, both outpacing BTC and ETH

• 'Uptober' lets down as crypto slips, even as the Korean tech rout deepens

Prediction Markets

• How high will Bitcoin get this week?

• Deposit $10 and get a $20 bonus with code LIT on signup, only on the Polymarket US app

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

• BNY and Citadel test tokenized US Treasuries (CD)

• OpenAI engineer arrested for bugging office (DC)

• Researchers smoke cigarettes to prove AI cures cancer (DC)

• Ledger finds implant that steals recovery phrases (DC)

• Binance shuts down mining pool services (TB)

• Federated Hermes issues first onchain fund shares (CD)

• Interactive Brokers adds Ethereum staking (TB)

• Strive buys $280M in Bitcoin (DC)

• Bitcoin whale moves $378M after six years (TB)

• Blockchain.com seeks license for derivatives (TD)

• Character.AI files for bankruptcy (DC)

• Hedge funds explore arbitrage opportunities on crypto venues (TB)

• 300+ Colorado merchants begin accepting bitcoin (BM)

• Alpaca pushes into prime brokerage (BBG)

• Metaplanet issues $329M convertible bonds (CT)

• DRW and Marex complete OTC swap (TB)

• Ripple and Privy partner on embedded wallets (TB)

A Message from Spreadwise

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If you're a high-net-worth investor or manage concentrated stock positions, Spreadwise can help you unlock cash without the usual drag.

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Launches

• Robinhood opens social trading feed (TD)

• MNX offers pre-IPO futures (CD)

• BingX opens stocks to crypto users (FM)

• StarkWare launches shadow accounts (TD)

• A7 announces payment service (TD)

Regulation

• UK moves closer to keeping $5B bitcoin haul (DC)

• South Korea blocks 27 crypto exchanges (CD)

Cybersecurity

• FBI reports $17B scam-center tally (TD)

• Anthropic warns AI worms spread across devices (CT)

• UK crypto trader loses $800k in knife assault (CD)

• DOJ arrests two in North Korean crackdown (TD)

• Autheo's THEO plunges after exploit (TD)

Extra Reads

• The dramatic risk is a fast stablecoin-driven bank run, the deeper one is quieter, citizens in high-inflation countries steadily swapping local currency for digital dollars, eroding deposits and loosening central banks' grip before anyone notices a crisis at all - Here's the slow way stablecoins can drain a nation

Chart of the Day

Majority of tokenized equity trading volume is outside regular hours

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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.