ARK Invest’s director of research disputed a16z crypto’s thesis that traditional finance will adopt permissioned blockchain infrastructure instead of decentralized finance, saying institutions will increasingly rely on DeFi rails. ARK Invest’s director of research pushed back against investor a16z crypto’s thesis that traditional finance will adopt blockchain through permissioned infrastructure rather than decentralized finance (DeFi). Lorenzo Valente said in a Wednesday X post that public blockchains have already outperformed private blockchain initiatives, citing the growth of tokenized assets on Ethereum and other open networks. He added that crypto-native firms such as Circle and Coinbase, rather than incumbent financial institutions, are best positioned to build the next generation of financial infrastructure. Read more
Visa and Artemis found that infrastructure bottlenecks are preventing broader commercial adoption of the autonomous AI agent economy. Artificial intelligence (AI) agents are posing a challenge to the incumbent global card payments infrastructure that is struggling to process high-frequency micropayments, according to a joint report released by payments giant Visa and investment thesis platform Artemis. The joint report published Wednesday found that traditional cards were built for human commerce with low-frequency transactions, which is insufficient for AI agents, which need infrastructure with near-zero fees and faster settlement to make agentic micropayments commercially viable. New infrastructure is increasingly necessary since AI agents crossed a key capability threshold in mid-2025, enabling them to discover unfamiliar APIs, evaluate prices and decide on autonomous payments. Read more
The Senate approved a resolution opposing clemency for former FTX CEO Sam Bankman-Fried as prediction markets put the odds of a Trump pardon by July 31 below 1%. The US Senate has adopted a resolution opposing executive clemency for former FTX CEO Sam Bankman-Fried, the convicted crypto executive behind one of the industry’s largest collapses. The Senate has agreed by unanimous consent to the simple resolution (S. Res. 772), with a nonbinding measure stating that Bankman-Fried should not receive executive clemency, according to a Wednesday X post by the Senate Press Gallery. The resolution affirms the Senate’s commitment to the rule of law and the integrity of the US financial system following Bankman-Fried’s conviction on fraud and conspiracy charges related to FTX’s collapse. Read more