Democrats Target Trump’s Crypto

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Good Morning,

Here's a quick preview of today's content: Judge orders bitcoin wallet returned to family of Canadian killer, Hong Kong passes crypto tax bill, Schroders launches tokenized EM debt fund, Circle cuts 5% of staff, Democratic sweep forces crypto to rethink strategy, and so much more

Curious how we source the VC section every morning? It's powered by Fundable. What we like it for crypto: half these rounds break somewhere you'd never think to look, an Italian business paper, a token sale that goes live on X before it reaches the feeds you check. Fundable reads all of it and pulls it into one place, so the digging is already done by the time you go looking. tryfundable.ai

Happy Thursday - 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 +13.1% Gannon's AI Fund is up +48.4%

• Bitcoin rebounds past $80,000 in a V-shaped comeback as markets shrug off a Democratic midterm sweep

  • BTC briefly sank to a 7-week low as bets on a Blue Wave rattled markets

  • BTC ETFs lose $1.16B as DeFi leads the rebound and Strategy's STRC hits its $100

• Experts say the Democratic sweep was 'priced in,' though crypto faces a tougher fight in Washington as Trump-linked tokens lead losses

Prediction Markets

• Who will win the 2028 Presidential election?

• 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}}

• Democrats target Trump's crypto ventures (BM)

• House Dems eye their own crypto bill (BM)

• Jack Dorsey's Block faces $764M DOJ settlement (CD)

• Democratic sweep forces crypto to rethink strategy (TB)

• Crypto's super PAC suffers setback (CD)

• Coinbase says 99% of customer crypto is offline (DC)

• Trump-linked bitcoin miner posts third-quarter profit (BBG)

• Judge lets stock perp futures keep trading (BM)

• Apple joins stock-token objections (TD)

• Morgan Stanley tokenizes securities (DC)

• Circle cuts 5% of staff (DC)

• Canton Coin gets SEC nod (DC)

• US voters back AI data center restrictions (DC)

• BitMart says security team is 'severely understaffed' (CT)

• Riot shares surge on $28B AI lease (CT)

• Stripe lets businesses send stablecoins to wallets (TD)

• Nasdaq approves listing of Canary's staked ETF (TD)

• Ethereum dev targets 2028 for quantum resistance (CT)

The round is already public. Just not on the feed you check.

A crypto raise is almost always public before it reaches the feeds you check. The catch is where. Sometimes it's a business paper in another language. Sometimes it's a token sale that goes live on X. Fundable reads all of it.

Sometimes the round breaks in another language. Young Platform, one of Italy's crypto exchanges, pulled in a €22.5M round led by the asset-management group Azimut. It ran across the Italian business press, Milano Finanza and StartupItalia, and barely registered in US crypto feeds. Fundable had it as a deal the day it broke.

Sometimes the raise isn't a press release, it's a token sale on-chain. Credible, a Solana payments startup backed by Circle and Colosseum, opened a community raise on MetaDAO, announced in a post on X and reshared by Solana. It pulled in over $32M of commitments against a $4M cap, more than 10x oversubscribed. The whole thing ran in crypto-native channels, not the mainstream outlets most people check. Fundable logged it as a deal the day it posted.

Different languages, different corners of the internet, same result: Fundable reads thousands of sources across every region and pulls them into one place as real-time data. You see the round the hour it breaks, flowing straight into your sourcing or outbound workflow via API, MCP, or the site.

tryfundable.ai

Launches

• Moscow Exchange lists bitcoin and USDT (CD)

• Schroders launches tokenized EM debt fund (TB)

• BitGo launches institutional trading (TB)

Regulation

• Coinbase and Kalshi denied shield from prediction-market enforcement (TD)

• Hong Kong passes crypto tax bill (TD)

• France backs reporting for crypto (CT)

• South Korea proposes deferral of crypto tax (TB)

• Italy files 95% of the EU's unlicensed crypto firms (FM)

Cybersecurity

• Judge orders bitcoin wallet returned to family of Canadian killer (DC)

• Crédit Mutuel Arkéa confirms cyberattack (DC)

Extra Reads

• The Binance hack showed how fast crypto can vanish with no way to claw it back, and as Wall Street races to put stocks and bonds onchain, the unsettling question is what happens when North Korea points the same playbook at tokenized assets instead - Here's what a hack of Wall Street's tokenized assets could look like

Chart of the Day

Tokenized equity platforms emerge as growth drivers for crypto

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