Crypto World
The new XRP card is a margin loan with a Visa logo
RedotPay’s RLUSD card lets 8 million users spend against their XRP without selling it: pledge coins at 50% loan-to-value, borrow in Ripple’s stablecoin, swipe anywhere Visa works. It is being sold as convenience. It is, mechanically, collateralized leverage on a token that fell 60% in a year, and the difference matters.
Summary
- RedotPay, a stablecoin payments fintech with more than 8 million users across 100-plus countries and roughly $12 billion in annualized volume, launched an XRP Ledger-powered card that combines XRP-backed credit, Ripple’s RLUSD stablecoin, and Visa’s network.
- The mechanics are a loan, not a payment: users pledge XRP as collateral at a 50% loan-to-value ratio, receive a credit line settled in RLUSD on the XRPL, and spend at any Visa merchant, keeping their XRP exposure intact.
- The pitch, spending without selling, is genuine and genuinely double-edged: it preserves upside and defers taxable disposals, and it converts holders into leveraged borrowers against one of the cycle’s worst-performing major assets.
- The launch is a real distribution event for RLUSD, routing consumer settlement through the XRP Ledger itself, and it arrives on the strength of a real trend: RedotPay reports stablecoin card volume up 80% this year and 250% year over year.
- The unpublished numbers are the ones that decide the product: borrowing costs, liquidation thresholds, and what happens to pledged collateral in the next 40% drawdown. The card’s true test is not adoption. It is the first liquidation cycle.
The most successful trick in consumer finance is making a loan feel like something else. The credit card made borrowing feel like paying; the mortgage refinance made it feel like unlocking; buy-now-pay-later made it feel like nothing at all. This week the trick arrived for XRP holders, wearing Ripple’s stablecoin and Visa’s logo. RedotPay, a Hong Kong-grown stablecoin payments company that has quietly assembled more than 8 million users across a hundred countries, launched what it calls the RLUSD card: pledge your XRP as collateral, receive a credit line at half its value, spend that credit, settled in RLUSD on the XRP Ledger, anywhere on earth Visa is accepted. The marketing frame, spend without selling your XRP, is accurate, appealing, and incomplete, because the product it describes has an older and less romantic name. It is a securities-backed line of credit, the margin loan of the wealth-management world, ported to a volatile digital asset and distributed to a retail base of eight million. That porting is a genuine milestone for stablecoin payments, a genuine distribution win for RLUSD and the XRPL, and a genuine risk transfer whose terms nobody outside RedotPay has yet seen. All three things are true at once, and this piece takes them in order.
What the card actually is
Start with the mechanics, because every claim about the product, for and against, lives inside them.
A RedotPay user with XRP does not load the card by selling coins. They pledge the XRP as collateral into RedotPay’s system, and against that pledge the platform extends a credit line at a 50% loan-to-value ratio: a thousand dollars of XRP unlocks five hundred dollars of spending power. The credit is denominated and settled in RLUSD, Ripple’s dollar stablecoin, with settlement executed on the XRP Ledger before the money reaches the Visa rails, where it spends like any card balance at any merchant. The user’s XRP position remains theirs, still exposed to every tick of the price, while the borrowed RLUSD buys groceries. When they repay, the collateral releases; while they borrow, it is encumbered.
Strip the branding and the structure is instantly recognizable from traditional finance: this is a securities-backed lending product, the same architecture private banks use when a client borrows against a stock portfolio instead of selling it. The appeal there and here is identical and real. The holder keeps upside exposure. No taxable disposal occurs at the moment of borrowing, since a loan is not a sale, which for long-term XRP holders sitting on complicated cost bases is a material feature, not a gimmick. And liquidity arrives instantly, at swipe speed, rather than through the sell-withdraw-wait cycle that still makes exiting crypto positions clumsy in much of the world.
RedotPay is a credible vehicle for the port. The company’s platform numbers, 8 million-plus users, 100-plus countries, roughly $12 billion in annualized payment volume, describe its whole stablecoin card business rather than this product, a distinction worth keeping crisp, but the underlying trend is corroborated and steep: the company reports stablecoin-powered card transaction volume up 80% since January and 250% year over year, and it has an existing Ripple relationship through African remittance corridors plus a May rollout of direct XRP payment features. The RLUSD card is not a startup’s cold launch. It is a proven distribution machine adding a leverage product to its shelf, which is exactly why the product deserves the scrutiny its marketing does not invite.
The half the marketing carries
The bull case for the card is worth making properly, because it is more substantial than launch-week boosterism suggests, and it rests on three distinct legs.
The first is the stablecoin-payments wave, which is real and measurable. Card products that settle in stablecoins have moved from crypto curiosity to functioning consumer infrastructure, particularly in the markets RedotPay concentrates on, where local banking friction makes a dollar-denominated spending instrument valuable in itself. An 80% year-to-date volume increase on a large existing base is not narrative; it is throughput, and every analysis of the sector points the same direction. A card that lets crypto holders join that throughput without liquidating their positions extends the product category along its natural axis.
The second leg is what the launch does for RLUSD and the XRP Ledger, and here the significance runs deeper than one fintech’s product shelf. RLUSD’s short life has been dominated by institutional settings, exchange collateral, treasury products, cross-border settlement, and its circulation has notably concentrated on Ethereum rather than the XRP Ledger it was nominally built to showcase. The RedotPay card is the first mass-market consumer product that routes RLUSD settlement through the XRPL itself, every credit draw an on-ledger transaction, which makes it a distribution event for the home chain in precisely the dimension, ordinary payment volume, where the ledger’s activity metrics have chronically underdelivered. If the card scales, it manufactures the daily, boring, non-speculative XRPL transaction flow that a decade of partnership announcements promised and rarely produced.
The third leg is the honest version of the consumer argument. For a holder who would otherwise sell XRP to fund spending, borrowing at 50% LTV is not obviously the riskier choice; it is a portfolio decision with a respectable pedigree, and the tax-deferral mechanics are the same ones wealthy households have used against equity portfolios for generations. Democratizing an instrument the private-banking class already enjoys is, on its face, exactly what crypto claimed it came to do. The case against the card is not that borrowing against assets is illegitimate. It is about what happens when the asset is this one, the borrower is retail, and the terms are unpublished, which is where the second half begins.
The half it does not
Now run the same mechanics forward through a drawdown, because the product’s defining events will not happen at launch. They will happen at liquidation.
A 50% loan-to-value line against XRP is a bet, embedded in a payment card, that XRP will not fall far enough to impair the collateral, and the recent record of that bet is the uncomfortable part: the token has fallen more than 60% from its 2025 high and traded at fifteen-month lows this month. A user who pledges coins at $1.14 and borrows to the limit has no buffer question until the price falls, and then has only questions the launch coverage does not answer. At what threshold does RedotPay demand more collateral or repayment? At what threshold does it liquidate, selling the pledged XRP into a falling market to close the line? What notice does a user in one of a hundred countries get, on what timeline, in what language of what agreement? None of this is disclosed in the launch materials, and none of it is exotic pessimism; it is the operating manual of every collateralized lending product ever built, and the crypto industry has run this exact experiment before at scale.
The lesson of the 2022 lending collapses was not that crypto-backed loans cannot work; it was that retail borrowers systematically underestimate liquidation mechanics until the first cascade executes them, and that products marketed as spend without selling are experienced, in the drawdown, as sold without asking.
The structural critique goes one layer deeper. A margin loan against a portfolio is typically one instrument inside a diversified balance sheet, extended by a lender whose terms are regulated, disclosed, and court-tested for a century. This product concentrates instead of diversifying: the collateral is a single volatile asset, the borrower base is by construction the token’s most committed holders, and the leverage is being introduced near cycle lows in sentiment, when the marketing pitch, do not sell here, keep your upside, lands hardest on precisely the users least able to absorb a liquidation. There is also a reflexivity worth naming for the asset itself: if the card scales, a meaningful stock of XRP becomes pledged collateral with mechanical sell triggers below the market, which is a new, price-insensitive seller waiting inside every future drawdown, the same structure that turned miner loans and DeFi collateral into accelerants in prior cycles. Individually rational borrowing, aggregated, becomes a market feature.
And the unknowns are not neutral. Borrowing costs are unpublished; whether pledged XRP is rehypothecated, lent onward, or held bankruptcy-remote is unpublished; the custody arrangement behind the collateral is unpublished. These may all resolve benignly, and RedotPay’s operating history earns it the presumption of competence. But a leverage product for eight million retail users, on a drawdown-prone asset, whose core risk terms are absent from its launch communications, has earned exactly one sentence of verdict: the card’s success metric is not sign-ups, and everyone will learn its real design the first month the collateral falls 40%.
The precedent shelf
The card did not invent its category, and its neighbors on the shelf are the fastest way to calibrate both the opportunity and the risk, because each ran a version of this experiment and left a legible result.
The closest structural relative is the crypto-backed loan book of the last cycle, and its lesson is precise, not general. Celsius, BlockFi, and their cohort did not fail because lending against crypto is impossible; they failed at the treasury layer, rehypothecating collateral, mismatching duration, running invisible leverage on the lender’s own balance sheet, while their retail borrowers discovered that liquidation clauses they had never read executed automatically in the March and June 2022 cascades. The two failure surfaces are separable, and the RedotPay product should be examined on each independently: what the borrower signs, which will surface quickly, and what happens to pledged XRP inside the company, which will not. The industry’s post-2022 vocabulary, segregated collateral, no-rehypothecation attestations, proof of reserves, exists precisely because the second surface stayed dark until it ruptured, and a launch that leads with adoption numbers while omitting collateral treatment has, knowingly or not, reproduced the sequencing of the last cycle’s marketing.
The happier precedent is the securities-backed lending business this product is modeled on, roughly a $150 billion book at the major US wirehouses, run for decades with unremarkable loss rates. Its stability rests on three legs worth naming because each is currently absent here: conservative advance rates against diversified, comparatively low-volatility collateral; regulated disclosure of every material term; and margin machinery tested through multiple market cycles with borrowers who mostly have other assets. Single-asset collateral at 50% LTV on an instrument that routinely moves 10% in a week, sold to a retail base whose crypto position may be their principal asset, is the same architecture at triple the stress with none of the disclosure. That does not doom it. It means the product’s safety is an empirical question the traditional version never had to ask, and the first drawdown will answer it in public.
And the nearest crypto-native success, the exchange-issued collateral cards and stablecoin debit products that RedotPay itself sells, offers the final calibration: those work, at scale, precisely because they carry no leverage, which is the feature this launch adds. The category’s entire history compresses into one sentence the marketing will never use: crypto payment cards succeed in proportion to how little borrowing they contain, and this is the most borrowing one has ever contained.
What to watch
Credit issuance volume, when it publishes. The company has indicated reporting on credit volumes will follow. Watch the ratio of pledged collateral to platform XRP balances: a niche convenience product and a system-relevant leverage layer look identical at launch and completely different at scale.
The terms, as users surface them. Interest rates, margin-call thresholds, liquidation procedures, and rehypothecation language will emerge from user agreements even if never press-released. The gap between the marketing and the margin schedule is the product’s honest description, and it will be visible within weeks.
The first drawdown. XRP at fifteen-month lows means the collateral question is not hypothetical for long in either direction. A 30-40% decline from pledge prices is the product’s first real audit: orderly margin management, or the familiar cascade. Every future XRP-collateral product, and competitors will copy this one if it scales, inherits whatever precedent this launch sets.
RLUSD’s chain split. Each card settlement is XRPL-side RLUSD volume. Watch whether the stablecoin’s circulation begins migrating from Ethereum toward its home ledger; if it does, this unglamorous consumer product will have done more for the XRPL’s activity metrics than any institutional announcement this year, which would be its own quiet verdict on where adoption actually comes from.
The card is a genuine innovation, a genuine RLUSD milestone, and a genuine margin loan, and the industry’s habit of celebrating the first two while ignoring the third is how every crypto credit cycle has started. Eight million users are about to learn, in the product’s own language, whether spend without selling survives its first encounter with sell without asking. The answer will arrive with the next drawdown, on schedule, as it always does.
A closing note on the geography, because where this product launches shapes what it becomes. RedotPay’s hundred countries are not a uniform market; the platform’s center of gravity runs through Southeast Asia, the Gulf, Africa, and Latin America, regions where the card’s stablecoin core solves problems a US or EU user does not have: unstable local currencies, thin card penetration, expensive remittance corridors, and banking systems that make holding dollars hard. In those markets the RLUSD card’s leverage feature rides on top of a genuinely useful dollar-spending instrument, which will flatter its adoption numbers and complicate their interpretation, since sign-ups driven by the stablecoin utility will be counted as validation of the credit product.
The regulatory map matters in the same way: crypto-collateralized consumer credit occupies wildly different legal positions across those hundred jurisdictions, from regulated lending to unlicensed gray zones, and a product distributed at this breadth will inevitably become a test case somewhere, most plausibly in whichever market first combines mass adoption with a drawdown-driven liquidation wave and an ombudsman. The US, notably, is where products like this face the sharpest scrutiny and where RedotPay’s footprint is lightest, meaning the card will scale, and its risks will surface, largely outside the regulatory perimeter American observers instinctively assume. That is not an accident of the launch. It is the strategy, and it is the same strategy every offshore crypto credit product has run: grow where the rules are unwritten, and let the first crisis write them.
Disclaimer: This article is for information and educational purposes only and does not constitute financial, investment, tax, or legal advice. Product terms described reflect launch communications and may change or be incomplete; borrowing against volatile assets carries liquidation risk up to loss of collateral. Always do your own research. Information is accurate as of July 23, 2026.
Frequently Asked Questions
What is the RedotPay RLUSD card?
A Visa-network payment card launched by RedotPay, a stablecoin payments fintech serving more than 8 million users in over 100 countries. Users pledge XRP as collateral at a 50% loan-to-value ratio to unlock a credit line, which is settled in Ripple’s RLUSD stablecoin on the XRP Ledger and spendable at any Visa merchant, allowing holders to access liquidity without selling their XRP.
How is this different from a normal crypto debit card?
A debit card sells or converts your crypto at the point of purchase; you spend the asset itself. This card lends against your crypto: your XRP stays yours, remains exposed to price moves, and serves as collateral for borrowed RLUSD. Mechanically it is a collateralized credit line, the crypto equivalent of a securities-backed loan, with the corresponding benefits, retained upside, no taxable disposal at borrowing, and the corresponding risks, margin calls and liquidation.
What does the 50% loan-to-value ratio mean in practice?
You can borrow up to half the market value of the XRP you pledge: $1,000 of XRP supports up to $500 of credit. The ratio is the lender’s buffer against price declines. If XRP falls substantially, the loan can approach the collateral’s value, triggering demands for repayment or additional collateral, and ultimately liquidation of the pledged XRP. The specific thresholds and procedures were not disclosed in launch materials.
Is spending without selling really tax-advantaged?
Generally, borrowing against an asset is not a disposal, so drawing the credit line does not itself crystallize capital gains the way selling XRP would, a genuine feature for long-term holders, subject to local tax law. The offset is borrowing cost: interest on the credit line, whose rate RedotPay has not published, plus liquidation risk. Whether deferral beats disposal depends on those terms and the token’s subsequent path. This is not tax advice.
Why does this matter for RLUSD and the XRP Ledger?
Distribution. RLUSD’s circulation has concentrated in institutional venues and largely on Ethereum, while this card routes consumer settlement through the XRP Ledger itself, every credit draw an on-ledger RLUSD transaction. At scale, it would generate the routine, non-speculative XRPL payment volume the ecosystem has long promised, and shift RLUSD activity toward its home chain, making the card a meaningful test of where the stablecoin’s real usage develops.
What are the main risks for users?
Liquidation is the central one: a significant XRP price decline can force sale of pledged collateral, potentially near market lows, converting a spend-without-selling product into an involuntary sale. Undisclosed terms compound it: borrowing costs, margin thresholds, notice procedures, and whether collateral is rehypothecated are not public. Standard platform risks, custody, jurisdiction, counterparty, apply as with any centralized fintech holding user assets.
Could this product affect the XRP market itself?
At scale, yes. Widely pledged collateral with mechanical liquidation triggers creates a price-insensitive seller beneath the market: drawdowns that breach margin thresholds force sales that deepen the drawdown. Similar structures, miner loans, DeFi collateral, amplified prior cycles. Whether this card reaches system-relevant size depends on issuance volumes the company has yet to report, which is why those numbers are the ones to watch.
Should XRP holders use it?
That is an individual financial decision this article does not make. The honest framing: it is a leverage product with real convenience and tax-deferral features and real, partially undisclosed risks, appropriate in the way margin borrowing is appropriate, for users who understand liquidation mechanics, borrow well below limits, and can repay without selling collateral in a drawdown. Anyone for whom those conditions do not hold is the product’s risk case, not its customer. Always do your own research.
Crypto World
BitMEX Receives 623 BTC Lawsuit Filing the Day It Announces Shutdown
BitMEX has been hit with a new US class action lawsuit accusing the crypto derivatives exchange of fraudulently arranging liquidations to keep traders’ Bitcoin collateral. The complaint, filed in the US District Court for the Southern District of New York on Thursday, targets BKX Services Inc. and David Namdar as plaintiffs and is directed at BitMEX operator HDR Global Trading, according to the court filing.
The lawsuit comes at a sensitive moment for the platform: BitMEX has announced it will shut down after a strategic review by its owner, HDR Global Trading, with services scheduled to stop on Sept. 23. BitMEX also plans to prevent users from opening new positions starting Aug. 26.
Key takeaways
- The plaintiffs allege they collectively lost 622.66 BTC due to forced liquidations tied to BitMEX’s automated liquidation mechanics.
- BKX Services claims losses of at least 305.81 BTC, while David Namdar alleges losses exceeding 316.85 BTC, per the lawsuit.
- The filing asserts an internal trading operation could allegedly continue trading during server freezes that supposedly blocked ordinary users from managing positions.
- Customers are seeking return of the allegedly withheld Bitcoin, along with compensatory and punitive damages.
- The case follows a prior class action in 2020 that was dismissed without prejudice on June 30, 2025, and it is being filed as BitMEX prepares to close.
Allegations centered on liquidation design and collateral seizure
According to the complaint, BitMEX permitted customers to use leverage of up to 100 times their collateral and then automatically liquidated positions at prices the plaintiffs argue were set while collateral remained allegedly sufficient to cover the losses. The plaintiffs claim that collateral was still worth twice the losses they say were ultimately incurred during liquidations.
In the plaintiffs’ account, remaining BTC after liquidation was directed into BitMEX’s insurance fund. They argue that this structure allowed the exchange to profit from forced liquidations rather than limit losses strictly to what was necessary under liquidation rules.
Central to the fraud allegations is the plaintiffs’ contention that BitMEX “deliberately developed a system that profited from the liquidations.” The complaint further asserts that an internal desk had access to private customer information and could keep trading while ordinary users allegedly could not access or close positions during server freezes.
Cointelegraph contacted BitMEX for comment but did not receive a response before publication.
Who is suing, and what relief is being sought
The proposed class action seeks the return of allegedly withheld Bitcoin and requests compensatory and punitive damages. The plaintiffs aim to represent US customers who purchased BTC swap products in transactions dating back to July 23, 2018, according to the filing.
The complaint identifies the alleged losses by plaintiff: BKX Services Inc. is said to have lost at least 305.81 BTC, while David Namdar alleges losses exceeding 316.85 BTC. The lawsuit states that the combined total losses alleged across the named plaintiffs amount to 622.66 BTC.
Notably, the new case explicitly frames the dispute around how collateral was handled after liquidations and how access to trading tools may have differed between internal participants and regular customers during alleged service disruptions.
Background: earlier BitMEX class action and a renewed push
While the new filing revives longstanding scrutiny of BitMEX’s internal trading operations and liquidation engine, it is not the first time traders have attempted to pursue legal claims. The complaint references a class action filed in 2020 by Brett Messieh and other traders alleging similar conduct.
That earlier case, which included claims under the Commodity Exchange Act, was voluntarily dismissed without prejudice on June 30, 2025. The renewed lawsuit therefore raises the question of how plaintiffs plan to refine or reframe their allegations after that dismissal and what evidence they believe supports the renewed claims.
For BitMEX users, the shift matters because earlier proceedings ended without a final resolution on the merits. A refiled suit suggests plaintiffs believe they can proceed more effectively—whether by adjusting legal theories, assembling additional factual support, or both.
Filed as BitMEX moves toward shutdown
The lawsuit was filed the same day BitMEX announced it would close after 11 years in operation. In its shutdown plan, BitMEX said it would stop providing services on Sept. 23, following a strategic review by HDR Global Trading.
BitMEX has already stopped accepting new registrations. The exchange also plans to prevent users from opening new positions starting on Aug. 26, according to the announcement. The timing is likely to be closely watched by affected traders and counterparties, as the platform’s winding down could affect how quickly claims can be assessed and how remaining customer-related matters are handled operationally.
BitMEX’s closure announcement was also followed by sharp market moves in the exchange’s BMEX utility token, with Cointelegraph reporting a roughly 90% plunge after the shutdown news. While token volatility does not determine the legal merits of the allegations, it underscores the broader uncertainty and reputational pressure that frequently accompany shutdowns and litigation.
Earlier coverage from Cointelegraph noted that BitMEX had already begun delisting a large number of trading pairs and derivatives in July amid its exchange shutdown process.
What to watch next
As the case heads through initial US court steps, the key unknowns will be how the allegations are supported procedurally and factually, and whether BitMEX responds with challenges to the plaintiffs’ theory of fraud and the causal link between alleged liquidation behavior and the claimed Bitcoin losses. With BitMEX preparing to exit the market by Sept. 23, plaintiffs and users will also watch how the shutdown affects evidence access, user documentation, and the practical timeline for any potential recovery.
Crypto World
Mirae plans to turn crypto exchange Korbit into something Korea hasn’t seen before
Korbit currently holds less than 1% of South Korea’s domestic crypto market, far behind giants Upbit and Bithumb. When asked directly about its strategy to compete, Mirae Asset stressed that the goal is not to overtake any other company or exchange, but to promote sustainable growth of the digital assets industry in South Korea.
“We intend to combine Mirae Asset’s extensive global investment expertise with Korbit’s digital asset capabilities to promote the sound and sustainable growth of the digital asset industry in Korea and globally.”
In other words, Mirae Asset isn’t trying to outdo Upbit or Bithumb, but to offer a one-stop shop that brings together institutional investment capabilities, research, education, and digital asset infrastructure under one roof.
The group also told CoinDesk it would strictly comply with AML, KYC, and fraud-detection standards across all areas, a signal that Digital X is being positioned for institutional clients as much as for retail traders.
Mirae Asset’s affiliate Mirae Asset Consulting recently increased its stake in Korbit to 97.15%, completing the acquisition after receiving regulatory approval from South Korea’s Fair Trade Commission.
“The acquisition was carried out through lawful procedures following a thorough review of the relevant laws and regulatory framework. Mirae Asset Consulting was selected as the acquiring entity after comprehensive consideration of each affiliate’s business purpose and role, as well as its potential synergies with the digital asset business,” the firm said.
Crypto World
US Weekly Jobless Claims Hit 1969 Low: What Does It Mean For Crypto?
US initial claims for state jobless benefits dropped by 22,000 to 187,000 for the week ending July 18, the lowest level since September 1969. The drop hardened bets that the Federal Reserve (Fed) could raise interest rates at next week’s meeting.
The CME FedWatch tool now puts the odds of a hike at 33.7%, up from 11.8% a week earlier. That reverses the rate cut hopes that lifted crypto earlier this month.
Strong Labor Data Boxes In the Fed
The 22,000 drop was the largest decline in three months. Economists surveyed by Reuters had expected claims to rise to 212,000.
Furthermore, the number of people collecting benefits for more than a week, a rough gauge of hiring, fell to 1.796 million in the week ending July 11, a six-week low.
The drop lands as the US-Iran war lifts oil prices and sharpens inflation concerns. Those pressures pushed traders to reprice the July 29 meeting. CME FedWatch showed the odds of a hike at 33.7% on July 23, up from 11.8% a week earlier. A hold sat at 66.3%.
Follow us on X to get the latest news as it happens
Matthew Martin, senior US economist at Oxford Economics, said the low level of claims is hard to overlook.
“There may be some seasonal noise in the data, given summer months tend to be noisy, but the extremely low level of claims is hard to ignore, and the trend in continued claims remains encouraging,” he said.
Martin added that a few layoffs and stronger hiring should cap unemployment in the coming months. Thin labor supply could even drag the rate below its current 4.2%, he said.
However, economists cautioned that seasonal auto plant shutdowns impacted the figure. Claims could rebound toward the low 200,000s next week.
What the US Jobless Claims Drop Means for Crypto
While initial jobless claims could rebound in the coming weeks, the latest drop to a multi-decade low reinforces the view that the US labor market remains resilient.
This could potentially reduce the Federal Reserve’s urgency to lower interest rates. Higher interest rates lift the appeal of cash and bonds. They also raise the opportunity cost of holding assets that yield nothing.
The mood reverses sharply from early July. Weak payrolls then revived rate cut bets and lifted Bitcoin (BTC) toward higher levels.
The Fed meets over two days next week. Traders still favor a hold at 66.3%, though the jump in hike odds reflects rising inflation concern.
A hawkish surprise would test whether crypto can hold recent ground. In contrast, a rebound in claims next week could quickly cool the talk of a hike.
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Crypto World
BitMEX removes 65 markets as its 11-year run nears an end
BitMEX will have removed 65 derivative contracts and spot trading pairs during July as the crypto exchange prepares to stop exchange services on Sept. 23, 2026.
Summary
- BitMEX will remove 65 derivatives and spot pairs during July, citing weak trading interest overall.
- New risk limits begin August 26, preventing traders from opening positions before September’s final closure.
- Users can withdraw after shutdown, but remaining verified accounts will face monthly balance-based account fees.
The total includes 21 derivatives removed on July 2, nine spot pairs removed on July 16 and 35 derivatives scheduled for early settlement on July 30.
The July total marks a sharp rise from the first half of 2026. Official notices show that BitMEX removed eight derivatives in January, eight in May, SPYUSDT in June and two Toncoin contracts later that month. That produced 19 removals across the first six months.
July delistings expand after closure decision
BitMEX attributed the first two July rounds to “insufficient trading interest.” The July 2 batch included contracts tied to Apple, Amazon, Avalanche, BMEX, Meta and Near Protocol. Two weeks later, the exchange removed spot markets for UNI, APE, ATOM, AXS, BONK, LINK, POL, Sonic and TRX.
The final July round will remove 35 derivatives at 12:00 UTC on July 30. BitMEX linked that decision to weak trading interest and the exchange closure. The list covers crypto, foreign exchange, commodities and equity-linked products, including AAVEUSDT, COINUSDT, GOOGLUSDT, MSTRUSDT, NVDAUSDT, TSLAUSDT and WTIUSDT.
Trading will continue until 04:00 UTC on July 30. BitMEX will then stop new funding calculations, cancel open orders and settle positions at the stated prices. It will not charge settlement fees. Profit and loss from each expired contract will move to the user’s Bitcoin or Tether balance.
BitMEX sets deadlines for open positions
BitMEX said it will close the exchange at 04:00 UTC on Sept. 23 after a “strategic review of the business and the broader crypto industry.” HDR Global Trading Limited, the platform’s owner and operator, stopped accepting new account registrations when it announced the shutdown.
The exchange will apply new risk limits from 04:00 UTC on Aug. 26. Users will no longer be able to open positions after that point, although they can reduce existing exposure. BitMEX may force-close positions during the wind-down period and will close any positions still open when exchange services end.
Users will keep account access after the closure date. They can view balances, review transaction records and request withdrawals. BitMEX also unstaked BMEX tokens held through the platform. The company urged customers to close positions and withdraw funds before Sept. 23.
Verified users who leave assets on the platform after the deadline will face a fee. BitMEX set the charge at $50 or 1% per year, whichever is higher, billed monthly. It warned that withdrawal reviews and blockchain limits could cause delays during heavy demand.
Shutdown follows management and sale reports
BitMEX launched in 2014 and became closely linked with leveraged crypto derivatives. A crypto.news guide to perpetual futures notes that the exchange created the perpetual swap in 2016. The contract later spread across centralized and decentralized trading venues.
However, the exchange entered its final months after corporate changes. As crypto.news reported in June, BitMEX appointed former chief operating officer and general counsel Peter Wilkinson as chief executive after removing Stephan Lutz and two other senior leaders. The changes followed reports that the company had sought a buyer.
Crypto.news reported in February 2025 that BitMEX had hired Broadhaven Capital Partners to assist with a potential sale. BitMEX did not mention that process in its closure statement. It also did not provide financial results, trading-volume data or a direct cause beyond its strategic review.
Users face an orderly withdrawal process
BitMEX said withdrawals will remain open after exchange services stop. It also stated that its assets exceed customer liabilities, referring users to its proof-of-reserves and liabilities page. The company warned customers to ignore messages promising priority withdrawals because it does not offer such a service.
Additional checks may slow processing. Bitcoin withdrawals may take longer when network confirmations or the platform’s fixed pool of withdrawal addresses create a queue. Customers can monitor requests marked “Processing” until BitMEX sends them to the blockchain.
The closure differs from some recent exchange wind-downs. As previously reported, AscendEX warned that some users might not recover full balances after financial and regulatory pressure forced it to close. BitMEX says customer assets remain covered, although that statement comes from the exchange.
The July schedule now forms the first major stage of the shutdown. BitMEX will settle 35 more contracts on July 30, restrict new positions on Aug. 26 and end exchange services on Sept. 23. Users can still withdraw afterward, but fees will apply to qualifying balances left past the closure time.
Crypto World
Ethereum (ETH) Is Cheap, But Not at Bottom Yet: Analysts
“Ethereum is cheap, but the data says the bottom isn’t in yet,” said onchain analytics platform CryptoQuant on Thursday. ETH is trading around 17% below its realized price, “but only two of five signals have reached historical bottoming levels,” they added.
“Selling pressure is easing. Capitulation is still missing.”
ETH realized price – which is a measure of the average price at which every token currently in circulation last moved onchain – is currently at $2,300.
Historically, trading below the realized price signals holder losses that tend to exhaust sellers and mark bottoms.
ETH/BTC Metrics Still Not Bottoming
The analysts said trading below the aggregate cost basis means the marginal holder is sitting on losses, “which historically exhausts sellers and compresses downside.”
However, cheapness alone has never been sufficient since the timing of a bottom has depended on Ethereum’s position relative to Bitcoin. This can be measured by the ETH/BTC MVRV ratio, which has fallen from “extreme overvaluation to neutral,” but not to extreme cheapness.
Additionally, the exchange inflow ratio has also dropped from over 1.5 to about 0.8 as selling pressure eased, but it hasn’t reached the ~0.4 low-pressure zone seen at past bottoms, they said.
Spot volume ratios have also collapsed to levels last seen in ETH/BTC bottoms, but the three other signals are not there yet.
CryptoQuant concluded that while ETH remains cheap, a “final bottom and the ETH outperformance that would follow may still take more time to form.”
“ETH is approaching undervalued levels relative to Bitcoin, which points to lower downside pressure ahead.”
Fundamentally, Ethereum remains strong with growing real-world asset tokenization and agentic AI payment narratives.
“Ethereum has the characteristics that institutions need,” said Sharplink CEO Joseph Chalom on Thursday.
“I don’t know a lot for certain in life, but I spent 20 years at BlackRock. And I know for sure, before you move financial rails that are 40, 50, 60 years old, you want it to move to something that’s trusted, always on, secure, with the most liquidity.”
Sharplink resumed its Ethereum buying in late June, scooping up 10,000 ETH worth around $16 million.
ETH Price Outlook
Despite the bullish fundamentals, ETH prices have retreated this week. The asset has fallen back from a seven-week high of $1,950 on Wednesday to $1,860 in early Asian trading on Friday morning.
ETH has lost almost 3% on the day but remains up 12% over the past 30 days. It needs to reclaim the $2,000 psychological barrier to measure any further momentum.
The post Ethereum (ETH) Is Cheap, But Not at Bottom Yet: Analysts appeared first on CryptoPotato.
Crypto World
SEC sets September talks as 24-hour stock trading moves closer
The U.S. Securities and Exchange Commission will hold a public roundtable on Sept. 17 to discuss preparations for 24-hour trading in U.S. equity markets.
Summary
- SEC will host public September talks on overnight equity trading, resilience, infrastructure and investor safeguards.
- Nasdaq and Cboe are targeting longer weekday sessions, subject to regulatory approval and system readiness.
- Crypto’s 24/7 model is shaping demand, but tokenized stocks remain separate from exchange-listed shares.
According to the SEC’s official announcement, the meeting will take place at the agency’s headquarters in Washington, D.C., and will also stream online.
The regulator said the discussions will cover overnight trading, market operations, system resilience and investor protection. SEC Chair Paul Atkins said, “We are moving towards a new day – and night – in the U.S. equity markets.” He added that continuous trading could bring the U.S. market closer to other markets that already operate around the clock.
SEC reviews systems needed for longer trading sessions
U.S. stocks already trade beyond the regular session, which runs from 9:30 a.m. to 4 p.m. Eastern Time. Several exchanges and brokers offer premarket, after-hours or overnight access. However, the national equity market does not operate as one connected system for almost the entire weekday.
The SEC’s Division of Trading and Markets has said wider access will require changes across market infrastructure. In remarks on overnight equity trading, division director Jamie Selway identified market data, clearing, corporate actions, trade reporting and investor protection as areas that require coordination.
Longer trading hours also depend on consolidated market data systems. Those systems collect prices and trading information from exchanges before distributing them to brokers and investors. Any move toward 24-hour trading would require those services to operate for longer periods.
Clearing firms would also need to process transactions and manage risks outside the traditional market day. Meanwhile, brokers would have to monitor orders, maintain systems and support customers across longer operating periods.
Nasdaq, Cboe and LSE prepare extended trading hours
Nasdaq has been working with U.S. regulators on a plan to offer trading 24 hours a day, five days a week. The exchange aims to introduce the schedule during the second half of 2026, subject to regulatory approval and industry readiness.
According to Nasdaq’s extended-hours trading information, the company expects global investors to benefit from access to U.S. stocks during their local daytime hours. Nasdaq has said any expansion must maintain liquidity, transparency, stability and fair market access.
Cboe Global Markets is also preparing near-continuous weekday trading on its EDGX Equities Exchange. Under Cboe’s proposed schedule, trading would begin at 9 p.m. Eastern Time on Sunday and continue until 8 p.m. on Friday. A one-hour daily break would allow the exchange to complete operational work.
Cboe plans to make all National Market System stocks available during the extended sessions. However, the proposal still depends on SEC approval and preparations by brokers, clearing firms and market data providers.
The London Stock Exchange is pursuing a similar plan outside the U.S. In its LSE 24 announcement, the exchange said it plans to introduce a separate venue for near-continuous weekday trading.
The LSE expects to begin client testing before the end of 2026. It plans to launch exchange-traded products on the venue during the first half of 2027, subject to regulatory approval. The main London market will retain its current trading hours.
Overnight trading raises liquidity and resilience questions
Keeping markets open for longer periods involves more than extending exchange operating hours. Market makers must be willing to provide buy and sell prices during overnight sessions. Lower participation could reduce liquidity and create wider differences between the highest buying price and lowest selling price.
The SEC roundtable will also examine how exchanges and connected firms respond to outages and technical problems. Maintenance periods may become shorter as markets move closer to continuous weekday operations.
Investor protection will remain another part of the discussion. Prices can move more sharply when fewer traders are active. Investors may also receive different execution prices during overnight sessions than they would during regular market hours.
The SEC announcement does not establish a final rule or a common launch date for U.S. exchanges. Instead, the agency will collect comments from exchanges, brokers, investors, clearing firms and other market participants.
The SEC has opened a public comment file for the roundtable and will publish the agenda and speaker list before Sept. 17.
Crypto markets shape demand for round-the-clock trading
Cryptocurrency exchanges have operated continuously for years, allowing investors to trade during weekends, public holidays and overnight periods. That model has contributed to demand for similar access to traditional assets.
Global investors may also want to trade U.S. shares during local business hours rather than waiting for markets in New York to open. Exchanges see extended sessions as a way to attract those investors and compete with crypto platforms and alternative trading venues.
Crypto companies are also expanding into tokenized equities. As previously reported, Binance introduced bStocks with continuous trading for tokenized U.S. equities.
Similarly, Franklin Templeton and Ondo launched tokenized investment products that eligible users outside the U.S. can access through crypto wallets around the clock.
However, tokenized equities are not identical to shares traded directly on a national securities exchange. Their custody, ownership and redemption structures may differ. A crypto.news guide to tokenized stocks explains how blockchain-based equity products represent or track traditional shares.
The SEC’s September meeting will focus on regulated U.S. equity markets rather than approving tokenized stock products. Nasdaq, Cboe and other operators will continue preparing their systems while the regulator gathers public input on market access, resilience and investor safeguards.
Crypto World
BitMEX Users Seek 623 BTC in Liquidation Fraud Suit
BitMEX is facing a class action lawsuit accusing the crypto derivatives platform of fraudulently engineering customer liquidations to seize traders’ Bitcoin collateral.
On Thursday, BKX Services Inc. and David Namdar filed the complaint in the US District Court for the Southern District of New York. The plaintiffs allege they lost a combined 622.66 BTC through forced liquidations on BitMEX, with BKX claiming losses of at least 305.81 BTC and Namdar alleging losses exceeding 316.85 BTC.
The lawsuit revives long-running allegations about the platform’s internal trading operations and liquidation engine and comes just as the exchange is preparing to close in September.
“BitMEX deliberately developed a system that profited from the liquidations,” the plaintiffs alleged. The complaint claimed that an internal trading desk had access to private customer information and could continue trading during server freezes that prevented ordinary users from accessing or closing their positions.
Cointelegraph reached out to BitMEX for comment but did not receive a response before publication.
BitMEX users seek Bitcoin return under fraud claims
According to the filing, BitMEX allowed customers to use leverage of up to 100 times their collateral, then automatically liquidated positions while collateral was still allegedly worth twice the losses incurred.
The remaining BTC was placed into the platform’s insurance fund, allowing BitMEX to profit from forced liquidations, the plaintiffs claim.
The plaintiffs are seeking the return of the allegedly withheld Bitcoin as well as compensatory and punitive damages. They aim to represent US customers who purchased BTC swap products in transactions dating back to July 23, 2018.
Related: BitMEX delists 65 trading pairs, derivatives in July amid exchange shutdown
The complaint also pointed to a class action filed in 2020 by Brett Messieh and other traders alleging similar conduct. That case, which brought claims under the Commodity Exchange Act, was voluntarily dismissed without prejudice on June 30, 2025.
Lawsuit lands as BitMEX announces shutdown
The proposed class action lawsuit was filed on the same day BitMEX announced that it would close after 11 years of operation.
BitMEX said it would stop providing services on Sept. 23 after a strategic review by its owner, HDR Global Trading.
It has stopped accepting new registrations and plans to prevent users from opening new positions starting on Aug. 26. The announcement was followed by a roughly 90% plunge in BitMEX’s BMEX utility token.
Magazine: Ethereum’s EEZ could pull other blockchains into its orbit
Crypto World
CoinRabbit and GoMining Report: Managing Bitcoin Matters More Than Mining Volume
[PRESS RELEASE – Toronto, Canada, July 23rd, 2026]
CoinRabbit and GoMining have published a report on Bitcoin mining profitability, showing why managing mined Bitcoin is becoming as important as producing it.
The report highlights how the post-halving environment is redefining success in mining, with operators relying on stronger treasury management, capital discipline, and long-term asset strategies to navigate tighter margins. With the block reward reduced to 3.125 BTC and network difficulty near record levels, operational efficiency alone is no longer enough. The next phase of mining will be shaped by smarter capital allocation and long-term conviction in Bitcoin.
The Four Pillars of the Bitcoin Mining Efficiency Mindset
The report presents a clear framework built around four key pillars:
1) Operational Cost Efficiency
Low-cost power procurement, high uptime, efficient cooling, and disciplined maintenance remain the foundation of any viable mining operation. These factors determine the baseline production cost and are essential for competitiveness.
2) Collateralization Over Liquidation
Instead of selling freshly mined Bitcoin to cover expenses, effective operators are using it as collateral. This approach allows them to meet short-term cash needs while retaining full ownership and long-term exposure to the asset’s value.
3) Operational Liquidity and Tax Optimization
Bitcoin-backed lending provides flexibility to cover recurring operating costs, including power, hosting, and payroll, while avoiding taxable sales. At the same time, it preserves the deductibility of operational expenses.
4) Long-Term Vision and Capital Discipline
Sustainable operators treat mining as a disciplined, capital-intensive business. They maintain the flexibility to hold Bitcoin through market cycles and reinvest in hardware upgrades when opportunities arise, avoiding forced sales during downturns.
The full report can be downloaded here.
Walter Barrett, Chief Strategy & Growth Officer at CoinRabbit, commented: “Long-term success is built on conviction in the assets you hold and the discipline to manage them through different market cycles. At CoinRabbit, we are proud to work with clients who share this long-term vision and recognize the value of staying focused through periods of uncertainty. We appreciate the collaboration with GoMining experts and their contribution to sharing deeper industry insights with the mining community.”
Jeremy Dreier, Chief Business Development Officer at GoMining and Managing Director of GoMining Institutional, added: “In the post-halving environment, discipline is critical. The miners that are winning are those with efficient operations and cash put aside for this exact time. This is the best possible moment to deploy capital into expanding your fleet, because it’s cheap to add hash rate when Bitcoin’s price is down. There’s a lot of opportunity in the market. At GoMining, this is our third bear market, and we’ve seen that the operators who are prepared look at these conditions as an opportunity. Those who aren’t prepared are the ones who panic.”
About CoinRabbit
CoinRabbit is a crypto asset management platform built for long-term capital preservation. It enables users to manage liquidity seamlessly across instant payments, lending, trading products, and the Private Program — all within a single ecosystem. Since 2020, CoinRabbit ensures 100% capital reserve, keeping clients’ funds safe and never reused.
For more information, users can visit coinrabbit.io
About GoMining
GoMining is an all-in-one Bitcoin ecosystem that makes it simple and secure to mine, earn, and use Bitcoin every day. GoMining serves 5 million users and ranks among the top-10 Bitcoin miners by hashrate globally, with data centers in the U.S. and internationally. The company makes Bitcoin accessible through tokenized hashrate, daily BTC rewards, and an expanding suite of payment and earning products.
For more information, users can visit gomining.com
The post CoinRabbit and GoMining Report: Managing Bitcoin Matters More Than Mining Volume appeared first on CryptoPotato.
Crypto World
Gemini sends $10M in Bitcoin to Trump PAC amid CFTC case review
Gemini Trust Company sent more than $10 million in Bitcoin to MAGA Inc., a super political action committee that supports President Donald Trump.
Summary
- Gemini sent two Bitcoin contributions totaling over $10 million to Trump-supporting super PAC MAGA Inc.
- The donations followed Gemini and CFTC’s joint request to vacate ongoing terms of their settlement.
- Gemini will not recover its $5 million penalty even if the court grants relief requested.
A July Federal Election Commission filing lists two Bitcoin contributions made on June 19, with each valued at more than $5 million. The committee can use the funds for independent spending that supports Trump.
The transfers came about three weeks after Gemini and the U.S. Commodity Futures Trading Commission filed a joint motion in a New York federal court. The parties asked the judge to remove the continuing terms of a January 2025 consent order. Available records do not establish that the donation affected the CFTC’s decision, and neither side has publicly linked the events.
FEC filing records two Bitcoin contributions
MAGA Inc. disclosed the payments in its monthly report covering June. The filing identifies Gemini Trust Company as the contributor and records both payments on the same date. By June 30, the super PAC had reported more than $397 million in total receipts, according to reports citing the filing.
The contributions extend the Winklevoss brothers’ political support for Trump and pro-crypto groups. Cameron and Tyler Winklevoss each gave $1 million in Bitcoin to Trump’s 2024 campaign. They later donated $21 million in Bitcoin to the Digital Freedom Fund, a PAC created to support the administration’s crypto policy goals.
CFTC seeks relief from Gemini consent order
The CFTC sued Gemini in June 2022. The agency alleged that the exchange made false or misleading statements while seeking approval for a Bitcoin futures product. Gemini settled the case in January 2025 without admitting or denying the findings. The consent order required a $5 million civil penalty and imposed a permanent injunction.
On May 27, 2026, the CFTC joined Gemini’s request for relief from that judgment. The agency said a later review found that the complaint “should not have been filed” under its current enforcement standards. It cited questions about the evidence, a whistleblower’s credibility and staff conduct during the investigation.
However, the motion does not seek repayment of the fine. The CFTC said both sides agreed that the $5 million “will not be returned to Gemini.” The requested relief covers the future-facing parts of the order, including the injunction. As crypto.news reported in May, the regulator said keeping those terms in force would not be equitable. No public ruling had appeared by July 24.
Warren questions the agency’s independence
Senator Elizabeth Warren challenged the reversal request in a June 5 letter to CFTC Chair Michael Selig. She tied the matter to concerns about staffing cuts, reduced enforcement and contacts between the regulator and crypto or prediction-market firms. Warren called the developments “concerning signs of a CFTC beholden to political pressures and interests of the wealthy insiders.”
The letter states Warren’s position and does not prove that Gemini’s political giving shaped the agency’s action. The CFTC said its decision followed a review of the investigation, evidence, litigation tactics and current policy. It also said Gemini had been a fraud victim and that the earlier complaint relied heavily on an account lacking credibility.
Warren renewed her scrutiny on July 22 by asking the Government Accountability Office to examine CFTC staffing cuts and their effect on enforcement. Her office said the workforce had fallen by about 25% since January 2025. The CFTC’s current website lists Selig as its only commissioner, although federal law provides for a five-member commission.
Crypto election spending reaches new records
The Gemini contribution arrived during a surge in crypto-linked political spending. As previously reported by crypto.news,Public Citizen estimated that crypto companies had contributed about $189 million during the 2026 U.S. election cycle by late June. The group said this represented about 37% of corporate political contributions tracked during the cycle.
Several large crypto firms have funded PACs supporting candidates from both parties. Fairshake and related committees have received backing from Coinbase, Ripple and other companies. Meanwhile, MAGA Inc. has attracted money from Gemini and other technology or crypto businesses. Super PACs may accept unlimited corporate contributions for independent spending, but they cannot contribute directly to candidates or coordinate communications with them.
The spending comes as Congress considers the CLARITY Act, which could give the CFTC a larger role in digital asset oversight. Lawmakers continue to debate the regulator’s staffing, authority and leadership structure before expanding its duties.
The court has not publicly resolved the Gemini-CFTC motion. The Bitcoin transfer remains a separately disclosed political contribution. Gemini has already paid the $5 million penalty, and the agreement with the CFTC prevents its return even if the judge removes the order’s continuing restrictions.
Crypto World
Coinbase lets businesses accept USDC payments from AI agents
Coinbase is allowing businesses to accept USDC payments from autonomous AI agents as part of a wider expansion of its agent-focused financial tools.
Summary
- Coinbase Business will accept USDC payments initiated by AI agents through its native x402 support.
- Coinbase for Agents adds live market views and conditional actions controlled by user-defined trading guardrails.
- Developers can add agent payment acceptance to online services using Coinbase’s streamlined CDP x402 SDK.
The exchange announced the rollout on July 23, 2026, alongside new trading commands for users and a developer kit for adding x402 payments to online services.
Coinbase said software-generated traffic exceeded human traffic on its Base documentation pages for the first time in June. The company argued that most online payment systems still assume “a human clicking the button,” leaving businesses and developers without a simple way to serve autonomous software.
Coinbase Business adds agent payments
Beginning this week, Coinbase Business users can accept USDC payments sent by AI agents. Coinbase Payments powers the feature, while native x402 support handles internet-based, pay-per-use transactions. Businesses can receive, track, reconcile and cash out agent payments from the same account used for other payment activity.
Coinbase Business also offers rewards on eligible idle USDC balances. Its current business page lists a 3.35% annual reward rate, although Coinbase says rates can vary by region and may change. The company also states that USDC payments do not carry chargeback risk because Coinbase does not act as a party to transactions between businesses and their customers.
New commands expand Coinbase for Agents
Coinbase also added real-time market views and conditional actions to Coinbase for Agents. The new commands let an agent stream open orders, view an asset’s order book and watch live price and volume data. Users can set a condition that triggers a planned action, including a buy, sale or order cancellation.
The company presented examples such as selling assets when Bitcoin falls below a set level or cancelling an order after a fixed period. Users define those instructions and related guardrails.Coinbase for Agents already allowed authorised AI tools to trade, manage portfolios and complete financial workflows through linked Coinbase accounts.
CDP x402 SDK targets developers
Coinbase Developer Platform introduced a new CDP x402 SDK that lets developers add agent payments to an API, Model Context Protocol server or web service with a small code setup. Coinbase said the kit arrives preconfigured with its preferred infrastructure and extensions, reducing the manual work previously required to choose payment middleware and service providers.
The x402 standard uses the HTTP 402 “Payment Required” response to send payment instructions directly between an online service and a client. An AI agent can receive the request, sign a stablecoin payment and retry access with proof of payment. Coinbase launched the open standard in May 2025 for APIs, applications and autonomous agents.
The latest products extend a series of agent-payment releases from Coinbase. As previously reported, Amazon added Coinbase x402 to Bedrock AgentCore Payments in May, allowing agents to pay for services in USDC. Coinbase-backed x402 also launched Agentic.market in April to help agents discover and purchase compatible online services.
The company has not disclosed payment volumes expected from the feature.Coinbase said the three updates cover businesses receiving payments, people directing financial agents and developers building agent services. The rollout remains tied to user-set controls, supported regions and product availability. Coinbase Business currently operates in the U.S. and Singapore, while individual features and USDC reward rates may differ by market.
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