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new AI agent accounts that can trade and spend on your behalf

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new AI agent accounts that can trade and spend on your behalf

Coinbase has launched a new product called Coinbase for Agents, a platform that allows artificial intelligence agents such as ChatGPT and Anthropic’s Claude to connect directly to users’ Coinbase accounts and carry out financial transactions on their behalf.

The product, which went live on Wednesday, enables AI agents to trade cryptocurrencies, access market data, pay for online services and eventually make purchases, all within user-defined spending and risk limits.

Coinbase said the platform gives agents access to its advanced trading tools through natural language commands, allowing users to authorize tasks ranging from portfolio rebalancing to automated strategy execution. At launch, agents can trade spot crypto and derivatives markets, with support for equities and prediction markets planned for the future.

The company is also integrating support for x402, an open machine-to-machine payments protocol developed at Coinbase, which allows agents to make small payments for services such as premium research, data APIs and computing resources without subscriptions or manual checkout processes.

Binance Converts Stock Holdings Into On-Chain Tokens With bStocks Launch

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Binance Converts Stock Holdings Into On-Chain Tokens With bStocks Launch

Binance has activated its tokenized-equity layer, converting live stock positions on its brokerage platform into BNB Chain tokens tradable around the clock. The first five bStocks include Nvidia, Tesla, Circle, Micron, and Sandisk.

Binance has moved its tokenized-equity program from announcement to live product, introducing bStocks, a first batch of five US equities that eligible users can convert into on-chain tokens and trade around the clock, seven days a week.

The exchange posted the launch Thursday to its official account. Five stocks are available at launch to users outside of the U.S: Nvidia (NVDAB), Tesla (TSLAB), Circle (CRCLB), Micron (MUB), and Sandisk (SNDKB).

Users who hold the underlying equities through Binance’s brokerage platform can convert at a 1:1 ratio into the corresponding bStock tokens and switch back without lock-up periods, minimum holding requirements, or conversion fees. Binance said redemptions back into direct stock positions settle during regular market trading hours; on-chain settlements complete immediately. Prices track the underlying via oracle feeds.

Binance Brokerage Stack

The launch completes a product arc that Converge covered in early June, when Binance opened zero-commission access to more than 7,000 US-listed stocks and ETFs to eligible users outside the United States and said a tokenization layer on BNB Chain would follow within weeks. bStocks is that layer.

The stock-trading platform lets users buy and sell equities directly through Nest Trading Limited, the Abu Dhabi Global Market-regulated introducing broker, with Alpaca Securities handling clearing, custody, dividends, and corporate actions. bStocks lives one step downstream: it lets users take the shares they already hold on that platform and tokenize them.

That design is different from most competitors’ approaches. The Binance architecture gives users the conversion function themselves rather than pre-issuing a fixed set of issuer-defined tokens.

The tokens are issued by BTech Holdings Limited, a Binance Group affiliate, and represent rights tied to the underlying securities without conferring direct share ownership in the listed companies, a legal structure that sidesteps the prospectus requirements that shuttered Binance’s first synthetic stock attempt in 2021.

Self-custody support extends the product beyond the Binance platform itself. Users can withdraw bStocks to Trust Wallet, Binance Wallet, hardware wallets, or other compatible addresses, and deploy the assets in supported decentralized finance applications.

On-Chain Equities Race

The bStocks launch arrives in a crowded week for tokenized-equity infrastructure. Kraken’s affiliated entity Payward Services opened tokenized US IPO allocations at offering price across more than 100 countries through its xStocks framework, offering retail investors direct participation in US listings that were previously accessible only through institutional channels. Coinbase has committed to an “everything exchange” model that includes tokenized stocks alongside crypto and prediction-market products.

Traditional market infrastructure has begun to move in parallel. The New York Stock Exchange filed a proposal in early 2026 to allow eligible tokenized securities to trade alongside conventional shares under the same ticker symbols, rights, and privileges. The proposal would fold tokenization into existing exchange plumbing rather than building a separate rail.

The competitive pressure concentrates on the same distribution problem: non-US retail investors with existing crypto balances face friction when accessing US equity markets through conventional brokerage channels. Binance’s model lets a user fund a stock purchase in USDC or USDT, convert the resulting share into a BNB Chain token, and trade it over the weekend, all without leaving a crypto-native interface.

Ondo Finance’s tokenized-stock book has grown into the fastest-expanding asset class on Ethereum, with institutional demand from emerging-market asset allocators pulling the segment toward longer holding periods and DeFi collateral use cases, rather than short-term trading.

Binance co-CEO Richard Teng has framed the broader equity product as central to serving “the next 3 billion users,” telling Fortune in an exclusive interview at launch that US equities are “well over half of the global market” but remain “costly and difficult to access for investors in many overseas markets.” Additional assets and DeFi integrations are expected in subsequent batches, though Binance has not specified a timeline.

[CORRECTION: A previous version of this story said bStocks launched on Wednesday, instead of Thursday.]

May Breakdown and What’s Next

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May Breakdown and What’s Next

In today’s newsletter, Joshua de Vos, from CoinDesk Research, analyzes May’s crypto outflows to explain what current market signals mean.

Then, in “Ask an Expert,” Bryan Courchesne from DAiM addresses how investors can navigate the current market environment.

Crypto ETFs: May Breakdown and What’s Next

May ended two consecutive months of net inflows, with global crypto ETP flows swinging back to heavy redemptions. According to TrackInsight data, global digital-asset investment products recorded $2.39 billion in net outflows, against $1.79 billion of net inflows in April, as total assets under management fell to $141.1 billion from $158.7 billion a month earlier. U.S.-listed vehicles accounted for almost the entire redemption, while flows outside the U.S., which had already cooled in April, turned modestly negative.

The CoinDesk 20 Index (CD20), which captures a diversified cross-section of the top 20 digital assets, fell 1.11% in May after gaining 5.45% in April. The more concentrated CoinDesk 5 Index (CD5) declined 3.73% and bitcoin itself fell 3.56%, a sharp reversal from April, when bitcoin (up 11.87%) and the CD5 (up 9.91%) led a broad rally. The return hierarchy also inverted: large caps led in April, whereas in May the broad index outperformed, indicating that large-cap assets bore the brunt of the decline while diversified exposure offered relative shelter.

According to data from TrackInsight, outflows were concentrated in bitcoin — and ether-linked instruments globally, while parts of the altcoin market, led by XRP, Hyperliquid and Solana, drew net inflows, a divergence that widened over the month.

Largest ETF Gainers, Globally (by May Net Flows)

  • NEOS Bitcoin High Income ETF (BTCI): +$141.8 million; $1.24 billion AUM
  • Bitwise Solana Staking ETF (BSOL): +$79.3 million; $672.2 million AUM
  • Morgan Stanley Bitcoin Trust (MSBT): +$73.9 million; $260.1 million AUM
  • Bitwise Hyperliquid ETF (BHYP): +$62.0 million; $71.1 million AUM
  • iShares Staked Ethereum Trust ETF (ETHB): +$56.1 million; $584.3 million AUM
  • 21Shares Hyperliquid ETF (THYP): +$49.7 million; $61.6 million AUM
  • NEOS Boosted Bitcoin High Income ETF (XBCI): +$42.8 million; $71.8 million AUM
  • Franklin XRP ETF (XRPZ): +$38.7 ,million; $273.8 million AUM
  • iShares Bitcoin ETP (IB1T): +$33.1 million; $1.06 billion AUM

U.S.-listed products continued to dominate the global crypto ETF market in May. Despite net outflows of $2.37 billion, American-domiciled ETFs closed the month with $119.2 billion in AUM, retaining roughly 84.5% of the $141.1 billion global market, broadly in line with April’s 85.1%.

May’s headline outflow ended two months of inflows and was overwhelmingly a U.S., large-cap reversal. The gainers list, by contrast, was dominated by income, staking and newly launched products. With the CoinDesk 20 down just 1.11% against a 3.73% fall in the large-cap CD5, diversified and altcoin exposures showed a relative resilience that the flow data corroborated. That resilience has since been overwhelmed: by early June, Bitcoin had fallen to around $62,000, and the major indices were down a further 15% or more, leaving no sign that May’s outflows marked a bottom and pointing to intensifying pressure into June.

Read more: May’s global ETP recap and May’s U.S.-focused ETF recap.

– Joshua de Vos, research team lead, CoinDesk

Ask an Expert

Q: Bitcoin’s RSI recently dropped into the low 40s. Why is that significant?

Bitcoin’s Relative Strength Index (RSI) has fallen into the low 40s on key timeframes, which is a relatively rare occurrence. Similar readings were seen in February 2020 and during the March 2020 COVID crash. In both cases, those oversold conditions preceded powerful recoveries and substantial long-term gains. While no indicator guarantees future performance, historically these periods have often represented attractive accumulation opportunities for long-term investors.

Q: Does this signal present an opportunity today?

Potentially, yes. For investors who remain focused on bitcoin and have a long-term time horizon, periods of market pessimism have historically offered some of the best entry points. The challenge is that buying often feels hardest when sentiment is negative, which is exactly why many investors miss these opportunities.

Q: What advice would you give investors who struggle to evaluate crypto projects?

If you cannot confidently assess factors such as real-world usage, security, tokenomics, decentralization and adoption metrics, simplifying your approach may be the best option. Bitcoin remains the most established digital asset, with the strongest network effects, the clearest store-of-value thesis, institutional support through ETFs and a proven ability to survive multiple market cycles.

Q: How can investors separate credible advice from noise?

A: Look for analysts and advisors with verifiable experience, a track record of being right more often than not, and a history of evidence-based commentary. Be skeptical of anonymous influencers, paid promoters and personalities whose primary business model appears to be generating engagement. In many cases, the difference between successful investing and costly mistakes comes down to ignoring the attention machine.

Q: What’s the key takeaway from today’s market environment?

This RSI setup could prove to be another important moment in bitcoin’s history. While no outcome is guaranteed, bitcoin has repeatedly rewarded patience, discipline and long-term conviction. Investors focused on fundamentals may view current conditions as an opportunity, while those still waiting for unrealistic altcoin narratives to play out risk missing another bitcoin-led recovery.

– Bryan Courchesne, founder, DAiM

Keep Reading

  • Japan’s three largest banks, MUFG, SMBC and Mizuho, plan to jointly issue a stablecoin by March 2027.
  • The stablecoin market cap hit a new all-time high of $320 billion while the total market cap of tokenized real-world assets reached $28.9 billion: read the latest research.

Looking for more? Receive the latest crypto news from coindesk.com and market updates from coindesk.com/institutions.

Hungary Backs Away From Bitcoin And Crypto Criminalization In Regulatory U-Turn

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Hungary Backs Away From Bitcoin And Crypto Criminalization In Regulatory U-Turn

Hungary is dismantling the restrictive digital asset framework introduced under former Prime Minister Viktor Orbán, a policy overhaul that will decriminalize crypto trading and eliminate the prison sentences that had driven major platforms from the country, government spokesperson Anita Kobol said Thursday, according to Bloomberg. 

The rollback marks a full reversal of legislation that took effect July 1, 2025, after parliament passed rules criminalizing the use of unlicensed exchanges and certain unauthorized high-value crypto transactions. 

Those transactions — ranging between 50 million Hungarian forints (roughly $162,000) and 500 million forints (roughly $1.62 million) — subjected individuals to prison terms of up to two or five years, depending on the transaction value. Service providers operating without a central bank license faced sentences of up to eight years.

The rules required approved validation for both crypto-to-fiat and crypto-to-crypto conversions, a burden that led platforms including Revolut to suspend crypto services in Hungary and triggered an EU probe into whether the restrictions complied with bloc-wide regulations. 

Domestic trading volumes fell as local firms absorbed steep compliance costs.

Hungary’s politically motivated safeguards against bitcoin

Zoltán Tanács, Hungary’s Minister of Science and Technology, characterized the previous rules as “politically motivated” rather than market safeguards and announced the government’s intent to scrap the penalties. 

The new administration plans to abolish criminal prosecution for market participants, revise cybersecurity rules affecting approximately 4,000 Hungarian businesses subject to the NIS2 directive, and align national law with the EU’s Markets in Crypto-Assets regulation.

Officials have identified Estonia as the template for rebuilding Hungary’s digital regulatory environment. Tanács said the reforms should draw international platforms back to Hungary and reduce friction for domestic operators, according to Bloomberg.

The shift carries significance beyond Hungary’s borders. The Orbán-era framework was one of the most restrictive in the European Union, and the EU’s inquiry had put Hungary at odds with the broader MiCA framework that governs crypto activity across the bloc. 

Alignment with MiCA would bring Hungary in line with the regulatory standard now binding all 27 member states.

Hungary’s pivot follows a wider trend of governments reconsidering punitive crypto policies. In April, Pakistan’s central bank lifted an eight-year ban on cryptocurrency operations, part of a broader move toward regulatory openness across emerging markets. 

The convergence of those shifts suggests that restrictive unilateral frameworks face mounting pressure as institutional adoption of digital assets accelerates globally and cross-border regulatory coordination deepens under frameworks like MiCA.

The Hungarian government has not yet set a timeline for when the legislative changes will take effect.

Hungary to Reverse Crypto Trading Rules That Carried Prison Terms

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Hungary to Reverse Crypto Trading Rules That Carried Prison Terms

Hungary is set to decriminalize crypto trading, reversing restrictions that imposed potential jail terms for certain crypto-to-fiat and crypto-to-crypto transactions, according to Tisza government spokesperson Anita Köböl. 

Speaking at a Thursday press conference, Köböl said Hungary would unwind rules introduced last year that required approved validation for crypto conversions and attached criminal penalties to violations. She said the restrictions contributed to a decline in crypto trading activity in the country. 

“This was an unnecessary piece of legislation. It made practical operation impossible and frightened the market participants,” Köböl said, according to a translation by Cointelegraph. “The criminal consequences also negatively impacted several hundred thousand people.”

The rules also prompted several digital asset platforms, including Revolut, to suspend crypto services in the country, Köböl said. She added that regulation had also led to a European Union probe into whether Hungary’s restrictions were compatible with the bloc’s rules. 

The reversal would mark a policy shift for Hungary after its 2025 crypto framework created a restrictive approval system around crypto, exposing users and service providers to criminal liability.

Hungary’s officials speaking at a press conference. Source: Péter Magyar/YouTube

Hungary’s 2025 crypto rules threatened traders with prison time 

The restrictions stemmed from a legislative package passed in 2025 that amended Hungary’s Criminal Code and its Act VII of 2024 on the crypto market, known as the Crypto Act.

Under the amendments that took effect on July 1, 2025, exchanging crypto may be carried out only with a compliance certificate issued by an authorized crypto asset conversion validation service provider.

Transactions lacking that certificate were treated as “unauthorised crypto-transactions,” with linked asset transfers deemed invalid and unable to produce legal effect.

Related: European Commission calls on 12 countries to implement crypto tax rules

The framework also created a new type of entity, a crypto conversion validation service provider, which required authorization from Hungary’s Supervisory Authority of Regulated Activities.

These providers were tasked with checking the origin of crypto assets, identifying wallet or device ownership, assessing user profiles and verifying transactions against external databases before issuing compliance certificates. 

A highlighted excerpt of Hungary’s updated Criminal Code with the new penalties for using unauthorized crypto exchanges. Source: National Legislation Database of Hungary 

Individuals or entities exchanging crypto worth between 5 million Hungarian forint and 50 million forint (about $16,000 to $160,000) through an unauthorized exchange service could face up to two years in prison. 

Penalties increased to five years for transactions between 50 million forint and 500 million forint, and up to eight years for transactions above 500 million forint. 

The crypto reversal comes after Hungary’s April 12 parliamentary election, which ended the 16-year rule of longtime nationalist Prime Minister Viktor Orban and brought Peter Magyar’s pro-European Tisza Party into government, with the new administration moving to ease tensions after years of conflict between Hungary and the EU.

With additional reporting from Zoltan Vardai

Magazine: Does ‘Paper Bitcoin’ mean there’s an unlimited supply of BTC?

Bitcoin Battles Hormuz Closure, US Inflation as $63,000 Returns

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Bitcoin Battles Hormuz Closure, US Inflation as $63,000 Returns

Bitcoin (BTC) returned to $63,000 on Thursday as crypto shook off news that Iran had closed a key global oil route.

Key points:

  • Bitcoin sees volatility but hits intraday highs despite surging US inflation and another Strait of Hormuz closure.
  • Oil rebounds as the US promises fresh attacks on Iranian infrastructure on Thursday.
  • Bitcoin upside targets focus on the remaining gaps in CME Group’s futures market.

Iran and PPI inflation spark new risk-asset headwinds

Data from TradingView showed BTC/USD hitting local highs of $63,200 on Bitstamp, up more than 2.5% on the day.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

Crypto rebounded despite growing geopolitical tensions and the threat they pose to inflation trends worldwide. Reports referred to Iran closing the Strait of Hormuz “until further notice” following attacks on US infrastructure in the Gulf states.

US WTI crude oil jumped above $91 per barrel following the news.

CFDs on WTI crude oil one-hour chart. Source: Cointelegraph/TradingView

US President Donald Trump additionally warned that Iran would be hit “very hard” on Thursday evening.

“At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets, much like we have with Venezuela, which is working out brilliantly for both Venezuela and the United States of America,” he wrote in a post on Truth Social.

Source: Truth Social

The day prior, Trump stated that Washington “controls” Hormuz, with around 100 million barrels of oil transiting as a result.

In its latest analysis, trading company QCP Capital explained that markets were “being forced to price both military escalation risk and potential energy disruption risk at the same time.”

“That combination leaves risk assets in an awkward position,” it wrote in a Market Color bulletin on Wednesday. 

“Investors may not be panicking, but they are clearly less willing to lean into exposure when the next headline could pull the market in either direction.”

Thursday’s US Producer Price Index (PPI) print, meanwhile, kept up pressure on crypto and risk assets.

The Bureau of Labor Statistics (BLS) confirmed that year-on-year, PPI was up by the most in nearly four years, continuing a trend from recent months.

“For the 12 months ended in May, prices for final demand less foods, energy, and trade services moved up 5.1 percent, the largest 12-month rise since jumping 5.5 percent in October 2022,” an official press release stated.

US PPI one-month % change. Source: BLS

On Wednesday, the May print of the US Consumer Price Index (CPI) came in at 4.2% year-on-year, its highest rate of increase since April 2023.

A press release from the BLS showed that the upside was being primarily driven by energy costs.

“The energy index increased 23.5 percent for the 12 months ending May,” it reported.

CME gaps still form BTC price upside targets

In Bitcoin circles, attention continued to focus on preserving $60,000 support, with a springboard for bulls still out of reach.

Related: BTC price bottom not due until Q4? Five things to know in Bitcoin this week

“It’s quite simple for Bitcoin,” crypto trader and analyst Michaël van de Poppe told X followers on the day. 

“Break through the areas at $63.3K and $65.8K and we’ll be looking at a lot more upside.”

BTC/USD one-week chart. Source: Michaël van de Poppe/X

Van de Poppe gave upside targets that matched the outstanding CME futures gaps between $75,000 and $80,000, should price manage to break higher.

AI Models Led to ‘Vulnerability Apocalypse’ in Crypto Security: Immunefi CEO

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AI Models Led to ‘Vulnerability Apocalypse’ in Crypto Security: Immunefi CEO

New artificial intelligence (AI) models have shifted the cybersecurity playing field in favor of attackers, causing a “vulnerability apocalypse” that led to the resurgence in decentralized finance (DeFi) hacks, according to Mitchell Amador, the CEO of bug bounty platform Immunefi.

The proliferation of new AI models, such as Claude Opus 4.8 and ChatGPT 5.5, is the main reason that led to the resurgence in crypto hacks in 2026, Amador told Cointelegraph at the recent WAIB Summit in Monaco.

Hacking activity across the industry surged in April 2026, with illicit actors stealing more than $634 million from cryptocurrency platforms, the highest monthly total since the Bybit hack helped drive losses to roughly $1.4 billion in February 2025, according to DefiLlama data.

Total crypto hacks by monthly sum, all-time chart. Source: DefiLlama

Crypto needs to survive the next three to four years

The next three to four years will be a crucial survival period for the crypto industry, until cybersecurity teams harness the defensive capabilities of these same AI models to build “impregnable” codebases that attackers won’t be able to breach, said Amador.

This timeline could shrink to less than two years if the industry adopted more “crowdsourced security solutions” until cybersecurity researchers turn these AI models to their advantage, he added.

Amador’s comments followed the release of Anthropic’s latest Claude Mythos model, Fable 5, which sparked industry concerns over its potential ability to accelerate cryptocurrency exploits.

Anthropic said on Tuesday that Fable 5 has safeguards that reroute topics such as cybersecurity to a different model, Claude Opus 4.8.

Related: Recovery hopes fade as Kelp DAO hacker launders nearly all $220M in stolen funds

The industry has become increasingly sensitive to security risks after a string of major DeFi exploits renewed concerns about protocol vulnerabilities.

On April 19, an attacker drained about 116,500 restaked Ether (rsETH), worth roughly $290 million to $293 million at the time, from Kelp DAO’s LayerZero-powered rsETH bridge.

LayerZero said Kelp DAO’s 1/1 decentralized verifier network (DVN) setup created a single point of failure by relying on a single verifier path for cross-chain messages. LayerZero said it had previously advised against that configuration.

Magazine: The legal battle over who can claim DeFi’s stolen millions 

U.S. House bill would erect crypto-theft task force across law enforcement agencies

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U.S. House bill would erect crypto-theft task force across law enforcement agencies

Crypto theft from criminal fraud and hacking would be the jurisdiction of a new U.S. cross-agency task force contemplated in a bipartisan bill introduced on Thursday, backed by well-placed lawmakers in the U.S. House of Representatives.

The Federal Cryptocurrency Theft Task Force would be led by the U.S. attorney general, according to bill text reviewed by CoinDesk, and it would involve the Department of Justice, Federal Bureau of Investigation, Department of Homeland Security and the Treasury Department, among others.

The legislation is sponsored by Representative Lance Gooden, a Republican on the House Judiciary Committee, and by a Democrat on House Financial Services Committee, Representative Josh Gottheimer.

“Crypto criminals are stealing billions from Americans, and Washington lacks a coordinated strategy to stop them,” Gooden, a Texas Republican, said in a statement to CoinDesk. “As digital assets shape the future of finance, this bill protects consumers, cracks down on thieves, and strengthens trust in the crypto ecosystem.”

The task force would become the main point of coordination for preventing and investigating the theft of cryptocurrency, which is a problem that plagues the young industry. From fraud and so-called pig butchering by complex criminal networks to state-backed attacks from hackers, digital assets have long been a target. Many of the sector’s most vocal political opponents often cite that undercurrent of criminal abuse as proof the sector is risky for consumers.

Despite $11 billion in thefts and scams last year, “victims have nowhere to turn,” Gottheimer, a New Jersey Democrat, argued. This change would provide “a single federal point of contact.”

This legislative effort suggests that the responses to theft cases have been inconsistent across the jurisdictions, including federal agencies and down through state and local law enforcement.

“By housing a coordinating task force at the Justice Department, this bill gives victims, investigators and local law enforcement the unified federal response they have been missing, all on a voluntary basis that respects local control,” said Dannis Porter, co-founder and CEO of the Satoshi Action Fund that advocates for digital assets policy, in a statement.

Before the arrival of the pro-crypto administration of President Donald Trump, the DOJ had maintained its own National Cryptocurrency Enforcement Team, but the agency quickly disbanded it during the new administration, with new leaders arguing it was regulating the industry through enforcement.

In 2021 — during the administration of President Joe Biden — the Joint Ransomware Task Force was established to coordinate across federal agencies in a similar fashion and in a related vein, because ransomware attacks are often associated with crypto payments.

And last year, the Treasury Department set up a Scam Center Strike Force to work with other law enforcement agencies to deal with overseas scams that seek to trick people into sending crypto. The group, led by the U.S. Attorney for the District of Columbia, says it seized more than $700 million in crypto from the scams, often backed by Chinese organized crime groups through intermediaries in Southeast Asia.

It’s not yet clear whether the new task force legislation will find an avenue for passage in the busy congressional session. Bills need to either find a track through a House committee or get attached to a must-move legislative package.

The Digital Chamber, a Washington group supporting crypto policy, said in a statement about this legislative effort that it’s “critical that law enforcement agencies have the tools, training and coordination necessary to investigate theft, trace illicit activity, support victims and pursue bad actors.”

Canton Network developer Digital Asset raises $355 million to bring capital markets onchain

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Canton Network developer Digital Asset raises $355 million to bring capital markets onchain

Digital Asset, the development firm behind the Canton Network (CC) blockchain used by major banks and trading firms, said Thursday it closed a $355 million fundraising round to back its efforts to bring capital markets onchain.

The investment was led by a16z, with the participation of global institutions including ABN Amro, Apollo Funds, BNP Paribas, Citadel Securities, HSBC, SBI Group and the Abu Dhabi Investment Authority through a subsidiary.

The amount raised beat the target of $300 million at a $2 billion valuation that was reported last month.

The investment comes as traditional financial firms increasingly back blockchain infrastructure built specifically for regulated markets. Tempo, the payments chain developed by Stripe and Paradigm, reportedly raised $500 million last year at a $5 billion valuation. Circle Internet (CRCL), the stablecoin issuer behind USDC, raised $222 million for its Arc blockchain at a $3 billion valuation, drawing backing from BlackRock, Apollo Funds, a16z crypto and ARK Invest.

The Canton Network was designed for big financial institutions to issue and trade tokenized real-world assets, such as bonds, loans and funds, on a shared ledger while maintaining privacy and compliance with legal requirements. It combines features of public blockchains, such as decentralization, with the safeguards required by traditional finance.

“For capital markets to move onchain, institutions need infrastructure that reflects how they actually operate – with privacy, compliance, scale, and interoperability built in from the start,” Digital Asset co-founder and CEO Yuval Rooz said.

The firm said a16z crypto will also provide expertise in development, policy and research beyond the financial backing.

“One of the most compelling blockchain opportunities is no longer theoretical; it is emerging as real-world assets and institutional workflows move onchain,” Ali Yahya, general partner at a16z crypto, said in a statement. “Digital Asset has built one of the clearest examples of blockchain product-market fit in regulated finance.”

Read more: Why big banks are snubbing open ledgers to build their own private blockchains

Can the AI Token Rally Further?

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Can the AI Token Rally Further?

BEAT, the native token of AI music platform Audiera, has exploded higher over the past month, surging more than 1,500% to a record high of $9.20 even as Bitcoin (BTC) and Ether (ETH) fell roughly 25% and 30%, respectively, in the same period.

BEAT/USD vs. BTC/USD and ETH/USD 1-month price performance. Source: TradingView

Key takeaways:

  • Strong platform revenues mixed with excessive short liquidations send BEAT’s price higher.
  • The AI token is now at its most overbought stage, which may prompt a 35% dip in the coming days.

Why is Audiera’s BEAT price up so much?

BEAT’s sharp outperformance has turned it into one of crypto’s hottest AI-linked trades, driven by a mix of platform revenue claims, token burns, and short liquidations.

Audiera revenue and token burns strengthen BEAT bull case

BEAT’s rally has gained momentum from Audiera’s revenue-and-burn model, which has given traders a stronger value-capture story to chase.

The project reported 772,045 BEAT in weekly revenue between June 1 and June 8, worth about $2.87 million at its stated price of $3.712. During the same period, Audiera said it burned 770,545 BEAT, taking the total burned supply to 12.35 million BEAT.

Source: X

Burns reduce BEAT’s available or future supply against its fixed 1 billion-token cap, strengthening the scarcity narrative when demand is rising.

This resembles Hyperliquid’s HYPE token economics, which have seen 120% price gains so far in 2026.

Related: Hyperliquid bear turns bullish after losing over $46M shorting HYPE

However, Hyperliquid has already shown strong product-market fit in perpetual trading, while Audiera’s model remains newer and less tested. That leaves BEAT vulnerable to sharp profit-taking if revenue slows, burn activity weakens, or speculative demand cools.

Short squeeze helps fuel BEAT rally

BEAT’s rally has received a strong boost from derivatives liquidations, particularly from traders betting against higher prices.

Since May, BEAT has seen $28.72 million in short liquidations, compared with $13.74 million in long liquidations. That means bearish traders lost more than twice as much as bullish traders during the rally.

BEAT’s daily aggregated liquidation bar chart. Source: TradingView

This imbalance points to a classic short squeeze. As the BEAT price kept rising, traders holding short positions were forced to close their bets. Since closing a short position requires buying back the token, those liquidations added more upward pressure to the price.

That helped turn BEAT’s rally from a strong uptrend into a vertical move.

However, it also means part of the surge came from forced buying rather than steady spot demand. Once short-liquidation pressure fades, BEAT may need fresh buyers to keep the rally going.

BEAT price may decline 35% in June

BEAT’s price explosion over the past month has made its relative strength index (RSI), which gauges momentum, the most overbought on record.

As of Thursday, BEAT’s daily RSI reading was 96.87, way above its overbought threshold of 70. In other words, the Audiera token’s rally remains vulnerable to a sharp pullback if buyers lose momentum or early investors start booking profits.

BEAT/USDT daily price chart. Source: TradingView

A decisive pullback from the $9.47 resistance level, which aligns with the 1.618 Fibonacci retracement line, increases the odds of BEAT falling toward the 1.0 Fib line at around $3.71, down roughly 35% from the current price, in June.

Conversely, a clear breakout above the $9.47 resistance level raises BEAT’s potential to rise toward its 4.236 Fib line above the $15 mark in the coming weeks.

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