BitMEX Shuts Down

Good Morning,

Here's a quick preview of today's content: Crypto wrench attacks cost victims $124M, Clarity Act expected to miss window before break, Mubadala Capital launches tokenized market strategies, Robinhood CEO's X account hacked, Brazilian farmers tokenize cows for farm loans, and so much more

Friday's here - 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 +7.5% Gannon's AI Fund is up +53.3%

• Bitcoin slides below $65,000 as Iran conflict fuels $100 oil and a bond-yield surge

  • BTC wilts as stocks slump on Iran war expansion and AI spending concerns

  • BTC ETFs approach $1B in a 7-session inflow run

  • XRP whales accumulate as small holders capitulate, while ETH nears market bottom against BTC

  • HYPE falls as crypto funds queue nearly $150M in locked tokens for withdrawal, though mining stocks rise

Prediction Markets

• Bettors on Polymarket are predicting Bitcoin price in July?

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

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

• BlackRock, Coinbase and Strategy pledge $15M to quantum-proof (DC)

• Elizabeth Warren claims Clarity Act helps Trump (BM)

• BitMEX crypto exchange closes down (BBG)

• Goldman Sachs CEO asks Wall Street to back Clarity Act (DC)

• Robinhood CEO's X account hacked (DC)

• Coinbase scales back social ambitions after backlash (BBG)

• BlackRock says crypto can outrun quantum threat (BM)

• Crypto protocols lose $35M in multiple attacks (CD)

• Crypto industry contributes $55B to US economy (CT)

• Coinbase lets businesses accept USDC from AI (CT)

• Zhibao plans to sell $220M stock for BTC (DC)

• Smarter Web sells 178 bitcoin (TB)

• Uniswap pushes deeper into tokenized assets (CD)

• Binance joins anti-human trafficking effort (CT)

• Coinbase expands Singapore office headcount by 25% (CT)

• Circle, Kakao and Toss Bank explore payment rails (TB)

• Brazilian farmers tokenize cows for farm loans (DC)

• MoonPay accepts Discover cards for crypto (TB)

• Former Invast director sentenced over scam proceeds (FM)

Venture Capital

• BTC treasury Empery Digital invests $20M in data center developer Cardinal Data Power (CT)

• GenLayer, a blockchain project, raises $7.5M led by North Island Ventures (X)

Access the complete VC deal flow on Fundable.

M&A Announcements

• South Korea's Mirae Asset acquires Korbit crypto exchange (TB)

Launches

• Mubadala Capital launches tokenized market strategies (CD)

• BancaStato launches crypto trading (CT)

• LayerZero and Keeta enable tokenized bank deposits (TB)

• Flow pilots Lombard's bitcoin credit strategy (TB)

• Bitcoinist.App brings mining pools to iOS (BM)

Regulation

• Clarity Act expected to miss window before break (CD)

• Kazakhstan approves crypto mining rules (CT)

Cybersecurity

• Asian scam networks cost victims $114B (DC)

• Crypto wrench attacks cost victims $124M (DC)

• Arbitrum perp DEX drained of $24M (DC)

• Verus-Ethereum bridge attack drains $7.5M (TB)

Extra Reads

• The biggest crypto bill in Congress is no longer stuck on regulators or developers, it's stuck on ethics, and on who gets to enforce them - Here's why the Clarity Act's ethics deal may be hard to reach

Chart of the Day

Chinese AI models are being used more than US-made ones

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