The card links self-custodied wallets to Mastercard rails, allowing AI agents to spend stablecoins at checkout without preloading funds or moving assets offchain. MoonPay is launching a virtual debit card that allows users and AI agents to spend stablecoins directly from self-custodied onchain wallets at merchants that accept Mastercard, using real-time crypto-to-fiat conversion at checkout. The card, developed with Monavate and Exodus Movement, Inc., connects onchain wallets to traditional card rails, enabling transactions without preloading funds or transferring assets offchain, with smart contracts authorizing spending at the point of purchase. Available through MoonPay’s CLI and agent workflows to users in the UK and Latin America, the card is designed for programmatic use, allowing users to delegate spending permissions to AI agents, with identity verification required before issuance, the company said. Read more
The top stablecoin issuer’s balance sheet remains heavily concentrated in US Treasuries as stablecoin adoption expands across emerging markets. Stablecoin issuer Tether (USDT) reported $1.04 billion in net profit for the first quarter of 2026, as its excess reserves rose to a record $8.23 billion, according to its latest attestation on Friday. The company said its reserves remain heavily concentrated in US Treasuries, with around $141 billion in direct and indirect exposure, while total assets of about $191.8 billion exceeded liabilities of approximately $183.5 billion as of March 31. Tether said this level of exposure makes it the 17th largest holder of US Treasuries globally. Beyond Treasuries, reserves included about $20 billion in physical gold and $7 billion in Bitcoin (BTC). Read more
Futures drove up Bitcoin's price in April while spot demand declined, which CryptoQuant warned has historically preceded extended price declines. Bitcoin could be setting up for a multimonth price decline, after a rally in April driven mainly by futures traders while spot demand declined, according to the crypto analytics firm CryptoQuant. Bitcoin gained around 20% in April, rising from $66,000 to a peak of $79,000 in a rally “driven entirely by growth in perpetual futures demand,” CryptoQuant said in a report on Thursday. Meanwhile, spot demand for Bitcoin contracted throughout the rally, “indicating that the market’s marginal buyer was speculative, not fundamental,” it said. Read more
The Bitcoin FUD-stopping tool cites over 22 peer-reviewed research papers to address common misconceptions about Bitcoin. A group of Bitcoiners has launched a new open-source AI tool that generates evidence-based responses to misconceptions about Bitcoin’s environmental impact, energy use and its role in the financial system. Nordic-based Bitcoin education platform Bitcoin Beyond 66 said it built “The Bitcoin Evidence Base” at a time when there is a “growing body of peer-reviewed research” showing the environmental benefits of Bitcoin mining, but “outdated data, methodologically weak studies, or plain lack of knowledge” continue to negatively shape public perception. The database seeks to offer users quick access to relevant, evidence-based information about Bitcoin mining and related topics so they can share it with social media posters who have knowingly or unknowingly spread incorrect information about Bitcoin. Read more
Carrot's total value locked has collapsed 93% in a month, from $28 million to $1.99 million, leaving the protocol financially unable to continue. Solana-based decentralized finance yield protocol Carrot said Thursday that it is shutting down permanently, becoming one of the first DeFi protocols to fall due to contagion from the Drift Protocol exploit in early April. In an X post on Thursday, Carrot said the Drift exploit was “catastrophic” for the protocol and had left it financially unable to continue operating. The platform set a May 14 deadline for users to withdraw remaining funds. It said it will continue to help recovery efforts related to Drift and distribute assets once they become available. “We are setting May 14th as the deadline to withdraw any remaining funds from Boost, Turbo, and CRT before we will then begin to deleverage the system. Your deposited funds are still yours, but all leverage will be reduced to zero, freeing up all liquidity for CRT redemption,” the protocol’s team said. Read more