Galaxy Digital CEO Mike Novogratz predicted that AI agents will soon be the biggest users of stablecoins, driving an explosion in stablecoin transactions. Galaxy Digital CEO Mike Novogratz said that AI agents will soon become the top users of stablecoins. During an interview with Bloomberg published on Wednesday, Novogratz said that “in the not-so-distant future, the biggest user of stablecoins is going to be AI.” He said he expects users will be able to ask an AI to buy their groceries, and have it independently engage in the necessary transactions: AI agents are autonomous software programs that can perceive their environment, make decisions, and take actions to achieve goals without constant human intervention. The primary feature that distinguishes these systems from most current AI systems is their higher degree of independence. Read more
US Bancorp resumed digital asset custody services for institutional clients following the SEC rule rollback under the Trump administration. US Bancorp has reentered the crypto space by relaunching its digital asset custody services aimed at institutional investment managers. US Bancorp’s reentry follows a regulatory shift under President Donald Trump’s current administration, which rolled back a previous SEC rule that had forced banks to hold capital on their balance sheet for crypto-related activities, according to a Wednesday report by Bloomberg. “We had the playbook and it’s sort of opening it up and executing it again,” said Stephen Philipson, head of US Bank’s institutional division. He noted that the bank plans to scale the service as demand grows and is also exploring how digital assets might fit into other areas like wealth management and consumer payments. Read more
DeFi gold products deliver sub-1% yields while traditional finance earns 3%-5% on the same asset. Token printing and forced complexity destroy returns. Opinion by: Shaaran Lakshminarayanan, co-founder of Mulitipli DeFi gold products are fundamentally broken. Despite Tether Gold having more than $800 million locked in tokenized gold with Paxos Gold sitting on almost as much, yields average under 1% while traditional finance generates 3%-5% on the same asset. The supposed innovation of blockchain technology somehow made gold less profitable. Read more
Crypto astrologists say planetary shifts move markets. Skeptics call it nonsense. But crypto astrology might make you a better trader anyway. While many crypto traders are busying themselves with wacky Fibonnaci charts and Bollinger Bands, theres a growing cohort of traders who say prices can be predicted by crypto astrology. Psychic services, which include astrology and other divinations, have become a $2.2-billion business in the US alone, and some forecasts estimate astrology could be a $22.8-billion industry by 2031. Meanwhile, a recent Pew Research Center Study that surveyed 9,593 Americans found that in 2024, about 28% of people said they consulted astrology at least once a year. Social media is also chock-full of stock and crypto traders who claim to use their high self to win in the stock market. Read more
Crypto astrologists say planetary shifts move markets. Skeptics call it nonsense. But crypto astrology might make you a better trader anyway. While many crypto traders are busying themselves with wacky Fibonnaci charts and Bollinger Bands, theres a growing cohort of traders who say prices can be predicted by crypto astrology. Psychic services, which include astrology and other divinations, have become a $2.2-billion business in the US alone, and some forecasts estimate astrology could be a $22.8-billion industry by 2031. Meanwhile, a recent Pew Research Center Study that surveyed 9,593 Americans found that in 2024, about 28% of people said they consulted astrology at least once a year. Social media is also chock-full of stock and crypto traders who claim to use their high self to win in the stock market. Read more