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Crypto & Web3CoinDesk ·

AI Agents Will Need Their Own Currency, But No One Agrees What It Is

As AI agents become more prevalent, industry experts are anticipating a need for a dedicated payment system to facilitate transactions between them. Crypto executives broadly agree that AI-to-AI payments represent a significant emerging challenge. However, there is sharp disagreement within the industry over what form the ideal solution should take. Some believe existing mechanisms such as stablecoins could fill the role, while at least one executive argues the right answer has not yet been invented.

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Crypto & Web3CoinDesk ·

Tokenized Asset Utilization May Be Near 20%, Far Higher Than Data Suggests

Matthew Fisher of Katana argues that the true utilization rate of tokenized assets is close to 20%, significantly higher than conventional data indicates. He contends that standard metrics are skewed because they include assets that were never intended to be actively traded or moved. When illiquid holdings and off-contract activity are properly accounted for, a clearer and more active picture of the tokenized asset market emerges. Fisher's analysis suggests that existing measurement frameworks may be systematically understating how much these assets are actually being used.

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Crypto & Web3CoinDesk ·

Six Dormant Bitcoin Wallets Move $40M After a Decade of Inactivity

Six Bitcoin wallets that had been untouched for ten years were activated this month, transferring approximately $40 million worth of cryptocurrency. Despite the notable movement, data from Galaxy shows that overall dormant coin activity is currently at its lowest level since 2022. The majority of funds moved from these wallets were not sent to exchanges, suggesting holders may not be looking to sell. With 2026 on track to see less than half the dormant wallet activity recorded last year, long-term holders appear largely content to keep their Bitcoin untouched.

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Crypto & Web3CoinDesk ·

Ripple upgrades XRP Ledger with quantum-resistant security ahead of Q-Day

Ripple is working to make the XRP Ledger resistant to quantum computing threats before so-called 'Q-Day' arrives. The move comes amid growing urgency in the crypto industry, as an Anthropic AI model recently reduced the computational work needed to break a leading post-quantum cryptography candidate by a factor of 67 million. Bitcoin and Ethereum have also published their own quantum migration plans this week. The parallel efforts signal a broader push across major blockchain networks to future-proof their security infrastructure against advances in quantum computing.

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Crypto & Web3CoinDesk ·

US Appeals Court Rules States Hold Power Over Prediction Markets Like Kalshi

A US appeals court has ruled against Kalshi, affirming that states retain regulatory authority over prediction markets and event contracts. The decision marks a significant legal setback for the prediction market platform. The ruling has created a conflict between different federal courts over how event contracts should be regulated. Legal analysts suggest the disagreement between federal courts may ultimately require the US Supreme Court to step in and resolve the matter.

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Crypto & Web3CoinDesk ·

Solana's First Network Vote Passes Narrowly After Last-Minute Validator Switch

Solana conducted its first-ever network-wide governance vote on a proposal to double its disinflation rate. The vote was extremely close, coming down to the final moments before a result was confirmed. A validator linked to crypto exchange Kraken switched its position late in the process, proving decisive to the outcome. The proposal ultimately passed by a slim margin, marking a significant milestone in Solana's on-chain governance history.

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Crypto & Web3CoinDesk ·

BitGo acquires NYDIG's trading unit for up to $57.5M in cash and stock

Cryptocurrency custody firm BitGo has agreed to acquire NYDIG IF Holdings, the trading arm of NYDIG, for $42.5 million upfront. The deal consists of $7 million in cash and approximately $35.5 million in stock. An additional $15 million earnout provision brings the total potential deal value to $57.5 million. The acquisition signals BitGo's intent to expand its trading capabilities within the digital asset space.

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Crypto & Web3CoinDesk ·

Fed Chair Warsh Signals More Work Needed on Inflation at Jackson Hole

Federal Reserve Chair Kevin Warsh delivered closely watched remarks at the Kansas City Fed's annual Jackson Hole symposium on Friday. Speaking at the high-profile gathering, Warsh acknowledged that the central bank still has work ahead in its fight against inflation. The comments came during one of the most anticipated addresses of the annual economic policy event. Jackson Hole traditionally serves as a key platform where Fed leadership signals future monetary policy direction.

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Crypto & Web3CoinDesk ·

US Crypto Clarity Act Delayed to September as Banks Press Ahead

The Clarity Act, a key piece of US cryptocurrency regulation, has been pushed back to September, leaving the industry without settled legal rules for longer than expected. Despite the regulatory uncertainty, banks and financial institutions are continuing to build out their crypto infrastructure and products. Matter Labs' Vassilis Tziokas argues that each month without clear rules inadvertently benefits closed, centralized platforms over open alternatives. The prolonged absence of a regulatory framework is seen as quietly tilting the competitive landscape in favor of established walled-garden ecosystems.

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Crypto & Web3CoinDesk ·

Ethena eyes equity perpetuals to back USDe as real-world assets gain ground

Ethena, the issuer of the $4 billion USDe stablecoin, is expanding its yield strategy beyond cryptocurrency derivatives. The firm is targeting real-world asset perpetuals, particularly equity-based instruments, as a new source of backing for its token. Ethena expects these real-world asset perpetuals to surpass crypto derivatives in its reserve composition within the next 12 to 24 months. The move reflects growing institutional interest in tokenized real-world assets as viable yield-generating instruments in the digital asset space.

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Crypto & Web3CoinDesk ·

SBI Holdings acquires 20% stake in Indonesia's Ajaib for $270 million

Japanese financial giant SBI Holdings is acquiring a 20% stake in Indonesian online brokerage Ajaib for $270 million. The deal is aimed at building a cross-border, blockchain-based settlement network across Southeast Asia. SBI intends to leverage the partnership to expand the reach of its yen-backed stablecoin in the region. The investment marks a significant step in SBI's broader strategy to integrate digital assets into international financial infrastructure.

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Crypto & Web3CoinDesk ·

Circle's USDC becomes Chelsea FC's jersey sponsor in Premier League crypto first

Stablecoin issuer Circle has secured a jersey sponsorship deal with Chelsea Football Club, marking the first such partnership between a cryptocurrency firm and a Premier League team. The deal places Circle's USDC stablecoin branding on Chelsea's playing kit. The financial terms of the agreement were not publicly disclosed by either party. Earlier reports had indicated that Chelsea was seeking approximately 65 million pounds, or around $88.3 million, annually for the sponsorship slot.

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Crypto & Web3CoinDesk ·

Bullish Provides $100M Debt Facility to USD.AI for GPU-Backed AI Loans

Cryptocurrency platform Bullish has committed a $100 million financing facility to USD.AI, a lending firm focused on artificial intelligence infrastructure. The capital will be used to fund GPU-backed loans, enabling businesses to secure financing using graphics processing units as collateral. The deal highlights growing institutional interest in bridging crypto-native capital with AI infrastructure demand. This move positions Bullish as an active participant in the emerging intersection of digital asset finance and AI hardware lending.

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Crypto & Web3CoinDesk ·

Bitcoin briefly peaks at $81,455, its highest in three months, before retreating

Bitcoin climbed to $81,455 overnight, marking its highest price since May 15 and a three-month peak. The rally was short-lived, with the cryptocurrency pulling back shortly after reaching that level. The move came as Nasdaq futures declined, while gold continued to extend its gains heading into the weekend. Altcoins largely consolidated during this period, showing limited directional movement alongside Bitcoin's swing.

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Crypto & Web3CoinDesk ·

Visa expands South Korea crypto push via Dunamu stablecoin partnership

Visa has announced a new partnership with Dunamu, the operator behind South Korea's largest cryptocurrency exchange Upbit, focused on stablecoin payments. The move marks a further expansion of the global payments giant's presence in South Korea, one of Asia's most significant crypto markets. This latest deal follows a recent agreement Visa struck with Shinhan Financial, signaling a broader strategic push into the country. By partnering with a major local crypto player, Visa appears to be deepening its integration with digital asset infrastructure in the region.

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Crypto & Web3CoinDesk ·

Kraken Users Temporarily Locked Out After Suspected Sanctions Evasion Attack

Crypto exchange Kraken experienced a wave of suspicious transactions involving sanctioned funds between August 17 and August 24. The activity appeared to be a coordinated effort to spread sanctioned cryptocurrency to unsuspecting users. This triggered automated account restrictions, temporarily locking out affected Kraken users. The pattern suggested a deliberate attempt to exploit compliance systems by contaminating accounts with flagged funds.

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Crypto & Web3CoinDesk ·

Bitcoin Options Worth $6.4 Billion Expire as BTC Trades Near $80,000

Bitcoin options contracts totaling $6.4 billion in value expired recently, marking a significant event for crypto derivatives markets. The expiry followed a notable price rally in which bitcoin climbed from approximately $62,000 to around $80,000. With the contracts now settled, traders must reassess and rebuild their positions at this substantially higher price range. The expiry is being closely watched as it could influence short-term price direction and market sentiment.

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Crypto & Web3CoinDesk ·

IREN Shares Drop 8% as AI Cloud Transition Dents Profitability

IREN's stock fell 8% as the company's ongoing shift toward becoming an AI cloud provider weighed heavily on its financial results. The transition, while marking a significant milestone for the firm, has come at a considerable cost. Rising expenses associated with the AI infrastructure buildout have pressured the company's earnings. Despite the strategic progress, weakening profitability overshadowed the operational achievements of the transition.

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Crypto & Web3CoinDesk ·

Warsh's Jackson Hole Speech May Signal Fed Stance on Treasury Buybacks

Kevin Warsh is set to deliver a closely watched speech at the Jackson Hole economic symposium. His remarks are expected to offer signals about potential Federal Reserve support for Treasury buybacks. Such a policy shift would carry significant implications for financial markets, particularly for bitcoin and gold. Investors are monitoring the speech for clues on the future direction of long-term bond yields. The outcome could influence broader expectations around Fed monetary policy in the near term.

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