The modern financial system was never designed for machines. It was built around the constraints of human life: geography, sleep cycles, paperwork, and physical presence. But as AI agents begin to act as economic participants, that human-centric design is starting to look less like a feature, and more like a bottleneck, said the co-founder of […]
Mythos, the new AI model from Anthropic that has sparked fear and confusion in traditional tech and finance, is also driving a massive shift in how the crypto industry thinks about security. For years, decentralized finance has focused its defenses on smart contracts. Code is audited, vulnerabilities are cataloged, and many common exploits are well […]
The U.S. Commodity Futures Trading Commission sued New York on Friday in its latest action to shield what the agency has argued is its unassailable nationwide regulatory authority over prediction market firms. Earlier this week, New York sued Coinbase and Gemini, arguing that their prediction market contracts violated state gambling laws. And last year, the […]
President Donald Trump’s command of U.S. financial and economic policy may have taken a step closer now that his Department of Justice has backed down from an investigation of Federal Reserve Chair Jerome Powell, meaning his nominee to replace Powell may now have an open path to confirmation. Fed chair nominee Kevin Warsh, whose own […]
Prediction markets have a consistent line: their products are financial instruments, not bets. Wisconsin isn’t buying it, and in a new complaint targeting Kalshi, Coinbase, Polymarket, Robinhood and Crypto.com, the state is citing the companies’ own marketing to call them unlicensed gambling venues. “Thinly disguising unlawful conduct doesn’t make it lawful,” Attorney General Josh Kaul […]
Until last Friday, April 17, lending stablecoins into Aave, widely considered the gold standard of DeFi, paid 2.32% APY. The Federal Reserve’s overnight rate was 3.64%. Taken at face value, the market was pricing an unregulated, open-source smart contract as a lower credit risk than the United States Treasury. In 48 hours, that ended. The […]
Bitcoin punched $79,388 on Wednesday evening and has been quietly giving it back ever since. Bitcoin traded at $77,794 on Thursday morning, up 0.4% over 24 hours after peaking at $79,388 at 21:34 IST on Tuesday and drifting lower through the overnight session. The 24-hour low of $77,464 was set Thursday morning, meaning the full […]
The crypto industry is frequently finding bankers involved in its top-priority regulatory efforts, and this time, a coalition of bank trade associations has asked the U.S. Department of the Treasury to extend the window in which the public can weigh in on implementation of last year’s Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) […]
April appears to be a lost cause for the crypto Clarity Act, but a U.S. Senate committee hearing sometime in May could keep the critical market structure legislation alive, as long as it can reach a final vote of the overall Senate by July, according to lobbyists and a lawmaker aide focusing on the market […]
Aave, one of the largest decentralized lending platforms, effectively froze Tuesday after all its major lending protocols ran out of available funds, leaving users unable to withdraw billions of dollars in crypto, DeFi Warhold said as he explained what the 100% utilization means. Roughly $5 billion in stablecoins USDT and USDC are effectively locked, Warhold […]
Less than three weeks after North Korea-linked hackers used social engineering to hit crypto trading firm Drift, hackers tied to the nation appear to have pulled off another major exploit with Kelp. The attack on Kelp, a restaking protocol tied into LayerZero’s cross-chain infrastructure, suggests an evolution in how North Korea-linked hackers operate, not just […]
Bitcoin and other risk assets have become increasingly sensitive to statements from U.S. President Donald Trump, with markets often swinging upward or downward within minutes of his social media posts or policy announcements to the news media. This has drawn scrutiny from lawmakers, academics and market experts, as questions mount over whether those price movements […]