Crypto World
Aave governance rift deepens as major governance group exits $26 billion DeFi protocol
The Aave Chan Initiative, one of the most active governance groups inside the Aave DAO, announced its shutdown after a dispute over transparency and voting power tied to a record budget request from Aave Labs.
Marc Zeller, founder of ACI, announced that the eight-person team will not seek renewal of its contract and will wind down operations over the next four months. The group plans to continue participating in governance during that period while handing off infrastructure and open-sourcing its tools.
The exit marks a turning point for Aave, the leading decentralized finance protocol with nearly $27 billion in total value locked across 20 blockchains.
It comes weeks after BGD Labs, the team that built and maintained Aave’s V3 codebase, said it would also step away over organizational and strategic disagreements with Aave Labs.
Aave’s governance token, AAVE, is down more than 11% in the last 24 hours over ACI’s exit to now trade at $110. It’s down more than 44% in the past year, compared to BTC’s 24% drop in the same period.
ACI’s impact
ACI said it drove 61% of governance actions over the past three years and helped deploy $101 million in incentives. During that time, Aave’s GHO stablecoin grew from $35 million to $527 million in supply, and the protocol’s DeFi market share rose above 65%, according to the group’s figures. ACI said it cost the DAO $4.6 million over three years.
The conflict centers on a proposal from Aave Labs titled “Aave Will Win.” The plan asked the DAO to approve up to roughly $51 million in stablecoins and 75,000 AAVE tokens to fund product development, marketing and expansion tied to Aave V4.
It also proposed directing all of the revenue from Aave-branded products to the DAO. That proposal has passed its first formal vote over the weekend with around 52% supporting it.
ACI said it requested four conditions before supporting the proposal, including stricter onchain milestone tracking and limits on self-voting by addresses linked to the budget recipient. Those conditions went unaddressed, Zeller wrote.
The organization argued that addresses linked to Aave Labs voted on the proposal, ultimately tipping the outcome in their favor. In a post-mortem published on the governance forum, the group said the episode showed there is “no role for an independent service provider” if the largest budget recipient can influence its own approval without full disclosure.
Aave Labs has not yet issued a response to ACI’s exit.
Winding down
To settle its remaining obligations, ACI will submit a direct proposal to cancel its GHO funding stream and transfer 120 days of funding to its treasury address, with the rest returning to the DAO.
The group said it chose a lump sum approach because it does not trust the governance process to maintain its stream during the transition. After the proposal executes, ACI will also cut its own AAVE vesting stream.
Over the next four months, ACI plans to hand off or open-source the systems it built. These include governance dashboards, incentive frameworks, delegate coordination programs and its roles on committees such as the Aave Liquidity Committee and GHO Stewards. The group will step down from those posts at the end of the wind-down period.
The departure raises broader questions about decentralization inside large DAOs. In theory, token holders control the system yet, in practice, voting power often clusters around founders, early investors and large delegates.
If a single entity holds enough influence, critics say, independent oversight becomes hard to sustain. The decentralization question in Aave began to grow after the DAO started debating who controls the protocol’s interface and who benefits financially from it.
For Aave users, lending and borrowing will continue as normal. Smart contracts remain live, and other service providers such as Chaos Labs, TokenLogic, and Certora continue their roles.
Still, the loss of two major contributors in quick succession may shift how the DAO manages risk, budgets and future upgrades.
TLDR
- BitGo Europe GmbH has launched its MiCA-compliant crypto as a service platform across all 30 EEA countries.
- The service enables banks and fintech firms to integrate regulated custody trading and fiat rails through a single API.
- Institutions can embed multi-asset wallets onboarding and settlement services directly into their platforms.
- Custodial wallets carry insurance coverage of up to 250 million dollars, subject to terms.
- BitGo handles trade settlement and custody through its internal regulated infrastructure.
BitGo Europe GmbH has launched its crypto-as-a-service platform across the European Economic Area under the MiCA framework. The rollout enables banks and fintech firms to integrate regulated custody, trading, and fiat services through a single API. The company confirmed that institutions in all 30 EEA countries can now access its infrastructure.
BitGo Rolls Out Regulated Infrastructure Across 30 EEA Countries
BitGo said it now offers API-based wallet, onboarding, and settlement services throughout the EEA. The company operates the service through its regulated European entity, BitGo Europe GmbH. Institutions can embed multi-asset wallets and SEPA fiat rails directly into their platforms. The platform also supports fiat on- and off-ramps under the EU’s Markets in Crypto-Assets framework.
The company stated that custodial wallets carry insurance coverage of up to $250 million, subject to terms. It also provides configurable policy controls and 24/7 operational support. Partners can enable clients to buy, sell, and hold digital assets within existing interfaces. BitGo handles trade settlement and custody through its internal infrastructure.
BitGo previously offered the service in the United States through BitGo Bank & Trust. The company confirmed that the European expansion follows MiCA’s implementation across member states. It said the framework allows institutions to formalize digital asset services under a unified licensing regime. The company has operated since 2013 and provides custody, staking, trading, financing, and settlement services globally.
BitGo went public on Jan. 22 and trades on the New York Stock Exchange under the ticker BTGO. Yahoo Finance data showed the stock at $10.20 on Tuesday, down 1.6% for the day. The data also showed the stock has declined about 20% since its listing.
Bitcoin and Ether Custody Gains Traction Under MiCA
Financial institutions across Europe have expanded digital asset custody services under MiCA rules. In July, Deutsche Bank advanced its custody plans by partnering with Bitpanda’s technology unit and the Swiss firm Taurus. The bank said it aims to integrate regulated digital asset infrastructure into its offerings. These moves align with MiCA requirements for licensed crypto services.
In September, Spain’s BBVA said it would use Ripple’s institutional custody platform. The bank confirmed that it plans to support Bitcoin and Ether trading and safekeeping. BBVA cited MiCA compliance as a key factor in its decision. The announcement outlined plans to operate under the EU’s regulatory framework.
Clearstream, part of Deutsche Börse, also confirmed the launch of new custody services for Bitcoin and Ether. The company said it will provide custody and settlement through its Swiss subsidiary, Crypto Finance AG. The service targets institutional clients seeking regulated access to digital assets. Clearstream stated that it will integrate the offering within its existing infrastructure.
In January, Standard Chartered announced plans to launch digital asset custody in Europe. The bank secured a license in Luxembourg to operate the service. It established a dedicated EU entity to deliver custody directly to clients. These developments follow MiCA’s rollout across the region.
Stafford Masie, executive chairman of Africa Bitcoin Corporation, said Tuesday that Bitcoin functions as everyday money in parts of Africa rather than primarily as a store of value.
Speaking to Natalie Brunell on the Coin Stories podcast on Tuesday, Masie said the framing of Bitcoin (BTC) differs sharply across regions.
“Where I come from, Bitcoin is money,” he told Brunell, adding that in some circular economies in Africa, merchants “won’t accept dollars — they accept satoshis.”
While investors in developed markets often emphasize its role as an inflation hedge, he described communities where satoshis circulate directly in local economies. He also pointed to the stark difference between inflation in the West and in parts of Africa.
“When you guys talk about debasement, you talk about 4% to 5% annually — we talk about 4% to 5% in an afternoon,” he said.
Masie compared the shift to the continent’s rapid adoption of mobile technology, arguing that younger populations are bypassing legacy financial systems. Rather than transitioning gradually from stable fiat currencies, he described a move from what he called “broken money” and sharp currency debasement into digital assets.
He also highlighted Africa’s youthful demographics as a key factor, noting that more than a quarter of the continent’s population is under 20. He said younger generations are embracing emerging technologies such as artificial intelligence and they “love Bitcoin.”
Masie said that in this context, Bitcoin becomes more than a passive store of value. Instead, he described it as “pristine capital;” a financial substrate that individuals and businesses can build on. He said:
In Africa, we know the age before 2008 and the age after 2008. After the Bitcoin white paper and before the Bitcoin white paper. Our lives changed, because suddenly we had something that couldn’t be debased. It was immutable, decentralized, can’t be confiscated. That to an African is life or death.”
Masie is a longtime technology executive who previously led major tech operations in South Africa.
Related: Africrypt founders back in South Africa years after platform collapse: Report
Crypto adoption in Africa
Data from blockchain analytics company Chainalysis appears to back up the shift on the continent that Masie is describing.
From July 2024 to June 2025, Sub-Saharan Africa received more than $205 billion in onchain value, up 52% year-on-year, making it the third-fastest growing crypto region globally. In March 2025 alone, monthly volume spiked to nearly $25 billion, driven largely by activity in Nigeria following a currency devaluation.
Sub-Saharan Africa has also stood out as a retail-driven crypto market. Transfers under $10,000 accounted for more than 8% of total value sent in the region during the same time period, compared with about 6% globally, according to the report released in September.
At the same time, Nigeria and South Africa showed notable institutional activity, with onchain flows indicating recurring multimillion-dollar stablecoin transfers linked to cross-border trade between Africa, the Middle East and Asia.
In January, speaking at the World Economic Forum, former UN Under-Secretary-General Vera Songwe explained how stablecoins are increasingly viewed as a cheaper remittance and settlement tool in Africa.
She said remittances have become “more important than aid” in many African economies, while traditional transfers can cost about $6 per $100 sent. With inflation exceeding 20% in about a dozen countries and an estimated 650 million people unbanked, she said stablecoins offer both a payments rail and a store of value in markets facing currency pressure.
Magazine: Would Bitcoin really be at $200K if not for Jane Street? Trade Secrets
Billionaire investor Ray Dalio has warned against Bitcoin as a long-term store of value and safe-haven asset, arguing that it has little central bank support and has lingering concerns over its privacy limitations and quantum resistance.
Dalio dismissed the idea that Bitcoin (BTC) can function as a digital gold, telling the All-In Podcast on Tuesday that “there is only one gold.”
“Gold is not a precious metal that’s speculated on,” Dalio said, adding it is the “most established money” that is the second-largest reserve currency held by central banks.
Dalio added he doesn’t see why central banks would want to buy Bitcoin and hold it over the long term.
Dalio has previously said that Bitcoin has hard money characteristics and noted that it continues to “have a pretty high correlation with tech stocks.”
“So, from an ownership perspective, supply and demand can be affected if somebody gets squeezed in one area and has to sell something else they hold.”
Dalio also raised concerns about Bitcoin’s lack of privacy, stating “any transaction can be monitored,” and warned that quantum computing could threaten the network.
In July, Dalio recommended a 15% portfolio allocation into Bitcoin or gold to optimize for the “best return-to-risk ratio” in light of America’s crippling debt problem and continued currency debasement.
Related: Bitcoin dives 3% on global asset rout as $5K gold ‘smashed’ on oil fears
Between July and early October, Bitcoin and gold were both on the rise until a broader crypto market crash wiped out nearly $20 billion in leveraged positions.
The pair then decoupled in early October, with Bitcoin falling over 45% since its October peak to $68,420, while gold has continued to rally, climbing over 30% to $5,120 in that timeframe.
Dalio says the world as we know it has changed
Dalio sent a message to investors last month, warning that the “World Order,” one led by the US for the best part of a century, had “broken down,” and that investors must rethink how they protect their wealth amid rising geopolitical conflict and economic disorder.
Dalio reinforced his long-held position that stores of value, particularly gold, are the best option to preserve wealth when currencies falter and credit systems break down, while debt assets become vulnerable as uncertainty rises.
Magazine: Is China hoarding gold so yuan becomes global reserve instead of USD?
TLDR
- Jamie Dimon said stablecoin issuers that pay interest on customer balances should face the same rules as banks.
- He argued that companies holding customer funds and paying interest operate like traditional deposit-taking institutions.
- Dimon stated that such firms should comply with capital, liquidity, and anti-money laundering requirements applied to banks.
- He said banks could accept crypto platforms offering transaction-based rewards instead of interest on stored balances.
- Dimon emphasized that similar financial products should follow the same regulatory standards for fairness.
JPMorgan Chase CEO Jamie Dimon called for strict oversight of stablecoin issuers that pay interest on customer balances. He said companies offering interest should follow the same rules as traditional banks. Dimon made the remarks during a CNBC interview as lawmakers review U.S. crypto legislation.
Jamie Dimon Calls for Bank-Level Oversight on Interest-Paying Stablecoins
Jamie Dimon addressed reported tensions with Coinbase CEO Brian Armstrong during the CNBC interview. He focused on the differences between transaction rewards and interest on stored balances. He said regulators must draw a clear line between the two models.
“Rewards are the same as interest,” Dimon said during the interview. He added that firms holding balances and paying interest operate like banks. “If you are going to be holding balances and paying interest, that’s the bank,” he said.
Dimon stated that such companies should follow banking standards. He said they should meet capital and liquidity requirements. He also said they should comply with anti-money laundering rules and federal deposit insurance standards.
He explained that banks accept a compromise on transaction-based rewards. However, he said interest on stored balances changes the nature of the service. Therefore, he argued that similar products require similar oversight.
He framed the debate around fairness and safety. “Level playing field by product,” Dimon said during the interview. He warned that risks could grow outside regulated systems without equal rules.
Banks and Crypto Firms Debate Stablecoin Regulation in Washington
Lawmakers in Washington continue reviewing draft legislation on stablecoin oversight. The Senate Banking Committee had planned to vote on the proposed CLARITY Act. However, Armstrong withdrew support for the bill one day before the scheduled vote.
Armstrong has argued that banks should compete directly with crypto firms. In contrast, Dimon said regulation should follow the product structure. He maintained that companies offering bank-like services must accept bank-like supervision.
Dimon also stressed that JPMorgan supports competition within financial markets. He said the bank uses blockchain technology in its own operations. He confirmed that JPMorgan has developed a deposit token for internal use.
The bank processes payments and data transfers through distributed ledger systems. “We’re in favor of competition,” Dimon said during the interview. “But it’s got to be fair and balanced,” he added.
Dimon pointed to the compliance obligations banks follow every day. He referenced anti-money laundering checks and community lending requirements. He said regulators designed those standards to protect the financial system.
“For the safety of the system, not just the fairness of competition,” Dimon said. Meanwhile, lawmakers continue to review new draft language circulated by the White House. Industry groups have not reached an agreement on whether stablecoin issuers should offer yield on balances.
Global markets pulled back while crude oil surged as the Iran conflict entered its fourth day.
Crypto markets retraced some of Monday’s gains amid the ongoing conflict in the Middle East, with oil surging above $75 a barrel as the U.S. and Israel bombarded Iran for a fourth day.
Bitcoin (BTC) is trading at around $68,500, down 1% over the past 24 hours. Meanwhile, ETH and SOL are down 2% at about $2,000 and $86, respectively, and BNB is down 1% on the day.
The overall crypto market capitalization dipped less than 1% to $2.41 trillion, according to Coingecko.
Global markets are being pressured by a strengthening dollar, with the U.S. Dollar Index (DXY) hitting a 6-week high of 99.68 earlier this morning. The S&P 500 and the Nasdaq dipped by around 1%, while gold and silver plunged by 4% and 7%, respectively.
Most of the Top 100 digital assets posted losses over the last 24 hours.
Top gainers include Mantle (MNT), Aptos (APT), and Near Protocol (NEAR), which rallied approximately 6%.
AAVE and Memecore (M) are today’s biggest losers, down 11% and 9%, respectively.
Around 110,000 leveraged traders were liquidated for $372 million in the past 24 hours, according to CoinGlass. Bitcoin accounted for $147 million, while ETH positions made up $78 million.
Bitcoin exchange-traded funds (ETFs) recorded $458 million in inflows on Monday as investors continued to add exposure despite the ongoing volatility. This follows $787 million of inflows last week.
A Chinese People’s Liberation Army (PLA) soldier stands guard in front of the National Museum of China in Beijing on March 3, 2025, ahead of the country’s annual legislative meetings known as the “Two Sessions.”
Pedro Pardo | Afp | Getty Images
BEIJING — China’s top policymakers are due to release growth targets and stimulus plans for the year at an annual parliamentary meeting that kicks off Wednesday.
The gathering, dubbed the “Two Sessions,” consists of a consultative congress that will start later in the day, and a National People’s Congress due to open Thursday. Chinese Premier Li Qiang is set to announce a series of economic targets at the NPC, which had largely been decided at a December meeting.
During the upcoming parliamentary meeting this year, policymakers are also expected to release details of a new five-year development plan, the 15th such program in China’s modern history. Investors will look for clues on how Beijing intends to achieve its domestic tech ambitions.
The goals will mark the penultimate step towards China’s 2035 goals with a focus on achieving technological self-sufficiency.
Senior Chinese leaders including top diplomat Wang Yi and heads of economic and financial ministries typically speak to the press during the Two Sessions. The gathering usually lasts around a week and is expected to conclude on March 11 this year.
Asia Society analysts noted that China’s anti-corruption campaign has reduced the number of delegates participating in the Two Sessions this year.
Here’s what economists are expecting Premier Li to announce Thursday:
GDP growth of around 4.5% to 5%
Several Chinese local governments have already lowered their growth ambitions for 2026, signaling Beijing could follow suit with the national target.
A growth target below 5% would be the lowest on record, according to The Asia Society, and down from “around 5%” in the past three years. China didn’t set a GDP goal in 2020 due to the pandemic.
“A slightly lower target would give policymakers more room to prioritise structural reform and improve data quality,” economists at Economist Intelligence Unit said in a note last week, penciling in a 4.6% growth prediction.
However, Morgan Stanley analysts see a “low probability” that Beijing will set a smaller growth target, adding that policymakers typically set GDP ranges — rather than single-figure targets — for periods of major economic stress. The firm also pointed out that 2026 was the first year of China’s “15th five-year plan,” which requires faster growth to anchor confidence.
Inflation of around 2%
Budget deficit of 4%
Such a target would also match last year’s, which had marked a rare expansion of government spending relative to GDP.
The 4% deficit set in 2025 was the highest on record going back to 2010, according to data accessed via Wind Information. The prior high was 3.6% in 2020.
Deeper challenges
China’s policy announcements will be scrutinized for details on consumer stimulus, such as expanding trade-in subsidies, and any incremental support for the struggling property market. The Two Sessions will likely shed light on Beijing’s thinking about the impact of U.S. trade tensions and the developing conflict in the Middle East.
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The world’s second-largest economy faces persistent challenges at home.
“There is a widening gap between Beijing’s targets (and data measuring economic performance) and the actual capacity of China’s policymakers to support domestic demand with the tools at their disposal,” Logan Wright, partner at U.S.-based research firm Rhodium Group, said in a report Tuesday.
Wright added that China’s financial system was lending heavily to unproductive local government and state-owned enterprises to prevent them from collapsing — and that fiscal spending was largely executed by those same institutions.
“The net result is a declining payoff in terms of investment and economic activity for the same volume of lending or fiscal spending, while private sector investment remains weak,” he said.
Voters in North Carolina, Texas and Arkansas head to the polls as the 2026 midterm cycle begins to take shape, with crypto policy emerging as a cross-cutting issue in several congressional contests. In Texas, Democratic Representative Jasmine Crockett is pursuing a risky bid for the Senate seat held by Republican John Cornyn. Crockett’s campaign intersects with a broader narrative about funding from crypto-aligned groups and industry money aimed at shaping regulatory outcomes. The primary season features debates over stablecoin payments, market structure bills, and the balance between innovation and consumer protections. As crypto-focused political action committees mobilize substantial fundraising and media campaigns, the question for voters is whether these interests will tilt policy in Washington in the run-up to the 2026 midterms.
Key takeaways
- Texas’s Senate primary has drawn substantial crypto-connected spending, with AdImpact reporting more than $122 million in total on both sides as of February 27.
- Representative Jasmine Crockett’s voting history includes support for the GENIUS Act stabilizing payments and for FIT21, the former iteration of a digital asset market structure bill, while she opposed the CLARITY Act.
- Crypto-focused PACs, including Fairshake and Web3 Forward, have deployed large sums in past cycles—Fairshake alone reported hundreds of millions in activity to influence media coverage and candidate support.
- Advocacy groups and crypto donors have claimed that the 2024 cycle produced a notably pro-crypto Congress, a claim tied to subsequent legislative momentum on GENIUS Act provisions and related market frameworks.
- The 2026 landscape features a wide slate of contests—33 Senate seats and all 435 House seats are up for grabs—making crypto-aligned fundraising a more persistent factor in down-ballot races beyond Texas.
Sentiment: Neutral
Market context: The intersection of political fundraising and crypto policy is increasingly prominent as lawmakers weigh stablecoin regulation, asset definitions, and market infrastructure bills amid broader macro and regulatory uncertainties.
Why it matters
The Texas race encapsulates a broader trend wherein crypto donors and advocacy groups are actively seeking to shape who sits in Congress and, by extension, the policy environment around digital assets. Crockett’s prior support for GENIUS Act-related provisions signals a willingness to engage with federal efforts aimed at simplifying or clarifying how stablecoins and other digital assets operate within traditional financial rules. Her voting history, including positions on FIT21 and CLARITY Act, provides a hinge point for how a Democratic candidate might approach a closely watched policy corridor as 2026 unfolds. The infusion of crypto money into the race—via committees backed by the industry and independent groups—highlights a persistent strategy: use media influence and targeted messaging to press for favorable regulatory outcomes, even as some campaigns insist they accept no corporate PAC money.
The broader backdrop is equally instructive. The rise of crypto-aligned PACs like Fairshake and its affiliates has underscored how fundraising can translate into policy visibility, particularly when a field is navigating complex questions about whether crypto should be treated as a security, a commodity, or a new category altogether. In the 2024 cycle, Fairshake and allied groups reported significant media spending to bolster pro-crypto candidates, a pattern described by industry advocates as contributing to what some labeled the “most pro-crypto Congress” in history. That sentiment fed into legislative activity around the GENIUS Act and related market structure initiatives, signaling that money and policy are increasingly entwined in the crypto policy conversation. For readers watching the Texas contest or statewide dynamics, this confluence matters because it can alter committee priorities, regulatory tempo, and the speed with which new laws or amendments are considered.
The narrative is reinforced by ongoing disclosures and public statements from PACs and industry figures. A January interview with Crockett, coupled with media investments from crypto-aligned groups, illustrates how candidates navigate a crowded field of political support while maintaining positions on core issues. The scene is further complicated by the involvement of well-known industry players and donors, including those linked to high-profile campaigns and political action committees that have historically funneled significant sums into pivotal races. This environment implies a higher degree of scrutiny on any candidate’s external funding sources and on how policy platforms align with those financial backers.
In parallel, the political rhythm around crypto policy remains dynamic. The original GENIUS Act line, the FIT21 framework, and the CLARITY Act have all featured in debates over how federal regulation should intersect with digital assets and stablecoins. The evolving narrative around those bills—along with public endorsements and criticisms from industry players—shapes not only candidate strategies but also the posture of regulators and the timing of potential policy updates. It is not just about one seat or one state; the 2026 cycle is shaping expectations for how Congress will respond to rapid changes in the crypto landscape and how those responses might affect market access, compliance costs, and innovation pipelines across a wide cross-section of the U.S. economy.
The discussion is further enriched by frequent references to related developments, including high-profile mentions such as the BitMEX co-founder pledge and other industry-linked contributions that have fed into broader debates about governance, accountability, and the role of money in politics. The evolving policy conversation—spurred by committee hearings, executive leadership changes, and continuing advocacy—may determine how quickly the U.S. moves from broader principles to concrete regulatory action. This is the kind of environment where a few primary races can become bellwethers for the future balance of power on crypto policy and, by extension, the direction of the sector in the years ahead.
To get a sense of the media and political dynamics at play, viewers can reference a related discussion that ties crypto fundraising to policy outcomes, including coverage of PAC activity and industry perspectives. The material includes a YouTube discussion and related reporting on how donor networks influence campaign messaging and policy debates. The ongoing conversation underscores that the 2026 cycle is as much about narrative control and fundraising strategy as it is about concrete policy proposals.
As the primary season continues, observers will also watch for additional data points on how crypto donors organize around specific candidates and districts. The narrative around Alabama, Texas, and other key states—where crypto-linked committees have already signaled intent to engage—offers a window into the mechanics of political influence in the digital-asset space. In the months ahead, campaigns and policymakers alike will need to address a complex matrix of questions: How will stablecoins be regulated? Will Congress advance a comprehensive market-structure framework? And how will donors calibrate their support in a way that aligns with voters’ broader economic priorities?
The broader context includes conventional political dynamics, such as party competition and voter sentiment, but the crypto dimension adds a distinct layer of financial leverage to the electoral process. The 2026 midterms will test whether the crypto-policy impulse can translate into durable legislative changes or if it remains a financing and messaging force within a noisy, highly scrutinized political environment. For readers tracking policy evolution, the coming weeks and months will be a critical period to observe where the money flows, which ideas gain traction, and how candidates like Crockett position themselves on one of the most volatile segments of the policy spectrum.
What to watch next
- Follow the Texas primary results for Crockett, Cornyn, Paxton and other contenders as crypto donors weigh their preferred outcomes.
- Monitor committee actions and floor votes related to the GENIUS Act, FIT21/FIT era bills, and the evolving market structure framework.
- Track forthcoming disclosures from crypto PACs and their media allocations ahead of key primaries and the broader 2026 cycle.
- Observe statements and ratings from Stand With Crypto and similar groups about candidates’ crypto stances, particularly in Texas and Alabama.
Sources & verification
- AdImpact data showing more than $122 million in spending on the Texas Senate primary as of February 27.
- Crockett’s voting history on GENIUS Act, FIT21, and CLARITY Act-related measures.
- Reports on Fairshake and related PACs’ 2024 media spend and $193 million treasury ahead of the midterms.
- Public statements and coverage related to the “most pro-crypto Congress” narrative and its connection to GENIUS Act progress.
- Affiliates and ratings from crypto advocacy groups, including Stand With Crypto’s positions on specific lawmakers.
Election finance and crypto policy momentum in 2026
The Texas Senate race illustrates how campaign finance dynamics and policy ambitions converge in a high-stakes political environment. Crockett’s engagement with GENIUS Act-style provisions signals a willingness to engage with federal policy that could influence not only how stablecoins are treated but how the broader digital-asset market is defined and regulated. Her opponents’ positions, the industry’s fundraising playbook, and the broader narrative around what constitutes a pro-crypto Congress all feed into a broader pattern: money, messaging, and policy formulation are increasingly entangled as crypto assets move from niche technology to a mainstream political issue.
In the weeks ahead, the story will pivot on concrete legislative steps—whether committees will advance a cohesive framework for digital assets, where new regulatory guardrails may form, and how voters assess candidates’ ties to crypto money alongside traditional policy platforms. The 2026 midterms are not just about party lines; they are about how much weight the crypto policy perspective carries in determining the balance of power in Congress and, ultimately, the shape of regulation that could influence the technology’s adoption and the market’s competitive landscape.
Wirex, a leading stablecoin card issuer and principal member of Visa and Mastercard serving 7+ million users globally, today announced Wirex Agents – a non-custodial infrastructure layer enabling AI agents to create stablecoin cards, open virtual accounts, and execute autonomous financial transactions directly onchain.
AI is already managing workflows like subscription operations, payout routing, and cost settlement, but execution still often stops at the payment step. Wirex Agents closes that gap by enabling AI-driven transactions on stablecoin rails without requiring the agent to take custody of funds.
Wirex Agents is available now for developers and partners building agentic commerce, AI-native financial workflows, and programmable money movement. Learn more: https://wirexapp.com/agents
Pavel Matveev, Co-Founder of Wirex, said: “We believe the next wave of financial innovation will not be driven by apps, but by autonomous systems. Wirex Agents provides the infrastructure AI needs to store value, issue cards, and transact globally, without custody risk and without friction. The agent economy requires real payment rails, not experimental tooling. With Wirex BaaS, we’re delivering production-grade infrastructure designed for both humans and machines.”
Built for machine-native transactions on Wirex BaaS
Wirex Agents is powered by Wirex BaaS, Wirex’s non-custodial stablecoin payment layer designed for programmable finance and machine-native transactions. Through Wirex’s regulated connectivity while preserving non-custodial architecture, AI agents can access:
- Stablecoin-powered Visa cards
- Stablecoin virtual bank accounts
- Push-to-card payments
- Cross-border transfers
- Cashback-as-a-service infrastructure
This launch builds on payment rails Wirex already operates at scale, reflecting the operational maturity required for real-world settlement and card-linked money movement. Wirex’s onchain payment volume exceeds $840M annualised, transparently trackable at: https://paymentscan.xyz/issuers/wirex
MCP server and reusable agent skills for developers
As part of the release, Wirex is launching two components designed to make financial execution practical inside modern agent workflows:
1. MCP server (Machine Commerce Protocol)
A server layer enabling AI systems to interact directly with Wirex payment rails for stablecoin card issuance, payouts, and treasury automation.
2. Agent skills
Reusable payment capabilities that can be integrated across agent clients and frameworks, including Claude Code and other agent toolchains, so teams can add real execution without building proprietary payment infrastructure.
Technical documentation: https://docs.wirexapp.com/docs/agent-skills
What Wirex Agents enables
The agent economy represents a shift where AI systems manage subscriptions, settle compute costs, execute arbitrage, pay vendors, and run treasury operations autonomously.
Wirex Agents is designed to support those workflows through:
- Non-custodial stablecoin infrastructure
- Direct Visa payment rails
- Global settlement via ACH, SEPA, FPS, SWIFT, and push-to-card
- 1:1 stablecoin conversion with zero spreads
- Merchant acceptance at 80M+ locations
- By combining card issuance, banking connectivity, and programmable payments, Wirex is positioning stablecoins as usable machine-native money, built for real-world commerce, not just onchain transfers.
Learn more: https://wirexapp.com/agents
Developers: https://www.wirexapp.com/developers
About Wirex
Wirex is a global payments platform serving both consumers and businesses, offering card-based payment products alongside card issuance and banking infrastructure for partners. For end users, Wirex provides payment cards and banking features designed for everyday spending. For businesses, Wirex offers Banking-as-a-Service APIs, card issuance, and payment rails that enable digital platforms to launch compliant, globally accepted card programs. Trusted by over 7 million users since 2014, Wirex has processed $20 billion+ in transactions across 130 countries. As a principal Visa and Mastercard member, it makes crypto spendable anywhere — instantly and effortlessly.
Crypto World
Trump Family-backed American Bitcoin (ABTC) expands mining fleet 12% as rivals pivot toward AI
As many publicly traded bitcoin miners shift their business plans and capital into AI infrastructure, the Trump family-backed American Bitcoin (ABTC) is doubling down on BTC mining.
The company announced Tuesday the purchase of 11,298 ASIC miners, a move that it said will increase its mining capacity by approximately 12%.
Read more: End of bitcoin ‘HODL’: public miners going all-in on AI, signaling more BTC selling
The miners are scheduled for delivery and deployment in March 2026 at its Drumheller site, located in Alberta, Canada.
Based on current network data, the added 3.05 EH/s would account for about 0.3% of global hashrate. That share could produce roughly 42 bitcoin per month, or about 515 bitcoin per year. At a bitcoin price near $68,000, that equals around $2.9 million in monthly gross revenue and about $35 million annually, before power costs, fees and difficulty changes.
“As bitcoin matures, the priority is clear: grow an American-owned, professionally operated hashrate,” said Eric Trump, co-founder and chief strategy officer at American Bitcoin. “That’s how we protect the network, drive innovation, and lead the future of bitcoin in America.”
ABTC shares are lower by 2.6% to $0.99 in Tuesday trading.
Voters in North Carolina, Texas and Arkansas will decide on some of the first candidates for the 2026 midterm elections in the United States as primary season kicks off, potentially influencing the future of Congress and crypto legislation.
In Texas, Democratic Representative Jasmine Crockett is running for Republican John Cornyn’s US Senate seat for Texas. Crockett, a member of the House of Representatives since 2023, voted for the stablecoin payments bill GENIUS Act in July and FIT21, the previous version of the digital asset market structure bill before the CLARITY Act, which she voted against.
Crockett came under scrutiny in 2022 after the political action committee (PAC) Protect Our Future, whose backers included former FTX CEO Sam Bankman-Fried, spent $1 million supporting her run for the US House of Representatives. Web3 Forward, another PAC associated with the crypto industry, reportedly spent another $1 million on Crockett’s race.
The Democratic candidate said in a January interview that she had not accepted “any corporate PAC money” for her 2026 Senate campaign, but that doesn’t stop committees backed by the crypto industry from supporting her candidacy through media buys or criticizing her opponents through negative ads. According to political tracking platform AdImpact, the Texas Senate primary has resulted in more than $122 million in spending on both sides as of Feb. 27.
Related: BitMEX co-founder pledges $27M to London maths institute after Trump pardon
Crockett will face off in the Democratic primary against state Representative James Talarico, while Cornyn, the Republican incumbent, faces challenges from Texas Attorney General Ken Paxton and others. The race is just one of many in 2026 that could potentially change the balance of power in Congress, with 33 Senate seats and all 435 House seats up for grabs.
A repeat of 2024 for crypto interest groups?
Fairshake, the Super PAC backed by many crypto companies including Ripple Labs and Coinbase, spent more than $133 million on media in 2024 supporting Bernie Moreno’s run for the Ohio Senate and other key races.
The result, according to advocates including Coinbase CEO Brian Armstrong and then-Blockchain Association CEO Kristin Smith, was the “most pro-crypto Congress” in history, which went on to pass the GENIUS Act and move closer to passing a comprehensive market structure bill.
Fairshake said in January that it had $193 million in its coffers ahead of the midterm elections, some of which Fairshake has already used to attempt to influence races in Alabama and Texas. Cointelegraph reached out to a spokesperson for comment on Tuesday’s primary, but had not received a response at the time of publication.
The PAC’s affiliate, Protect Progress, reportedly said in February that it had earmarked $1.5 million to oppose the reelection of Texas Representative Al Green, specifically citing the lawmaker’s “actively hostile towards a growing Texas crypto community.”
The crypto advocacy organization Stand With Crypto listed Green as “strongly against crypto” based on his public statements and voting record in Congress, while his primary challenger, Christian Menefee, received a “strongly supports crypto” rating.
US President Donald Trump, whose campaign was also supported by many in the crypto industry, won the presidency in 2024. He went on to replace Gary Gensler as chair of the Securities and Exchange Commission with his pick, Paul Atkins, in a campaign promise to the industry, pardon crypto figures including former Binance CEO Changpeng Zhao, and sign the GENIUS Act into law.
However, the president continues to face claims of conflicts of interest from many lawmakers due to his family’s ties to crypto. Trump’s term ends in January 2029.
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