Circle, known for issuing stablecoins including USDC and EURC, is expanding into the Bitcoin space, targeting institutional users. Stablecoin issuer Circle said it plans to launch its own version of a wrapped Bitcoin, which would put it against incumbents Coinbase and BitGo as it targets institutional users. The asset, called cirBTC and announced on Thursday, is set to launch on Ethereum, backed 1:1 by bitcoin (BTC) and aimed at over-the-counter desks, market makers and lending protocols. Circle said the asset is designed to provide institutions with a “highly secure and neutral version of wrapped BTC.” Read more
Arkham also flagged a 500 Bitcoin outflow from Riot on Thursday, while MARA Holdings, Genius Group and Nakamoto Holdings sold a combined 15,501 Bitcoin in the last week. Bitcoin miner Riot Platforms sold 3,778 Bitcoin in the first quarter, adding to a recent wave of sales by crypto firms amid tough market conditions. The Bitcoin (BTC) was sold at an average price of $76,626, netting Riot $289.5 million, according to the miner’s operational update released on Thursday. Bitcoin was trading at $66,867 as of Friday. The miner produced 1,473 Bitcoin for the quarter and had 15,680 coins on its books at the end of Q1. Blockchain intelligence platform Arkham also flagged a 500 Bitcoin outflow from a wallet it attributed to Riot Platforms on Thursday. Read more
The x402 protocol won't be owned by a single entity, with the Linux Foundation serving as the agentic AI protocol’s “neutral, non-profit home,” Coinbase said. Google, Microsoft and Amazon Web Services are among the Big Tech firms supporting the newly launched x402 Foundation, established to govern and standardize the x402 protocol for agentic AI payments on crypto and fiat rails. The x402 Foundation was launched on Thursday by the open-source software development non-profit Linux Foundation with the help of Coinbase, the creators of the x402 protocol. Other companies expressing “initial intent and support” of the x402 Foundation include American Express, Mastercard, Visa, Cloudflare, Shopify, Stripe, Circle, Base, Polygon Labs, Solana Foundation, Thirdweb and KakaoPay. Read more