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Coinbase Exec Predicts CLARITY Bill Markup in May

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Coinbase Exec Predicts CLARITY Bill Markup in May

The CLARITY crypto market structure bill could see a markup in the US Senate Banking Committee as early as next week, according to Kara Calvert, the vice president of US policy at crypto exchange Coinbase.

“My prediction is that we have a markup next week,” Calvert told the audience at the Consensus 2026 crypto industry conference in Miami, Florida.

She said that the bill needs at least 60 votes to pass in the Senate and that the CLARITY bill needs bipartisan support to become law. She said:

“That means you need Democrats. You need a bipartisan bill, and we have all been working really hard to make sure that bipartisanship holds. I think the big question is, how do these votes shape up over the next few days?”

Kara Calvert, pictured on the left, provides an update on the CLARITY market structure bill. Source: Consensus 2026

A HarrisX survey on Thursday revealed that there is strong, broad-based and consistent demand for clear federal rules. A 70% majority of voters say the US should already have passed clear cryptocurrency legislation, and 62% say it is important that the US set the global rules for digital finance.

The CLARITY bill stalled in January after Coinbase withdrew its support for the legislation, citing several concerns, including a lack of legal protections for open source software developers, a prohibition on stablecoin yield, and decentralized finance (DeFi) regulations. 

Related: US senator says crypto market structure vote may happen by August

Coherent tax policy remains a barrier to institutional adoption

A lack of coherent tax policies is the main “barrier” to institutional crypto adoption, Calvert said, adding that tax reform is a bigger issue for institutions than market structure legislation.

Many of these institutions just want to buy and hold cryptocurrencies or trade digital assets, but are burdened by tax compliance and reporting requirements, she said.

A HarrisX poll shows there is broad bipartisan support for passage of the CLARITY Act. Source: HarrisX

Tax reporting requirements under the current regulations mean the Internal Revenue Service (IRS) forces crypto exchanges to document every crypto transaction using 1099-DA forms, she added.

“We’re sending out millions of 1099-DA’s for things like $1 transactions — that makes zero sense,” Calvert said.

She added that she “hopes” tax reform legislation can advance through Congress in 2026, citing several crypto tax proposals submitted by US lawmakers, including the Digital Asset PARITY Act, introduced by Representatives Max Miller and Steven Horsford in March.

“I think that we will see action in the Senate. I think we will see legislation, probably in the next month or two, in the House,” she said.

Magazine: Will the CLARITY Act be good — or bad — for DeFi?

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Block Shares Jump on Strong Quarter Despite Bitcoin Dip

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Block Shares Jump on Strong Quarter Despite Bitcoin Dip

Jack Dorsey’s payments firm Block rose 7.9% in after-hours trading as its Q1 earnings surpassed analyst estimates, despite posting its first loss in three years.

Block came out with quarterly earnings of 85 cents per share, beating the Zacks consensus estimate of 68 cents per share. Investors responded positively, driving Block shares to $75.70 after hours, Google Finance data shows.

“This quarterly report represents an earnings surprise of +25.68%,” said Zacks Equity Research on Thursday. “Over the last four quarters, the company has surpassed consensus EPS estimates two times.”

Expanding Bitcoin’s use into the payments space has been a key area of focus for Dorsey, who previously argued that widespread payment adoption is needed to fulfill Satoshi Nakamoto’s original vision of Bitcoin as a peer-to-peer electronic cash system. In late April, Block noted that over 800,000 US-based merchants have enabled Bitcoin transactions for everyday purchases.

Block reports first quarterly loss in three years 

The earnings beat came despite Block reporting its first quarterly loss since 2023, driven by a 23.8% drop in the price of Bitcoin over the three-month period.

Q1 net loss was $309 million, which included a $172.8 million Bitcoin remeasurement loss on the 8,883 Bitcoin it held as of March 31. 

Bitcoin revenue from Cash App and other Block products fell to $1.8 billion from $2.33 billion a year ago.

Block attributed the fall to “Bitcoin trading dynamics” and a “strategic decision to reduce the fee” charged on certain Bitcoin transactions on Cash App.

Block’s gross profit rises 27% in Q1

Block’s Q1 gross profit — net sales minus cost of goods sold — reached $2.9 billion, up 27% from a year earlier. 

Bitcoin payments in Cash App contributed $63 million to Block’s gross profit, while Square had no meaningful impact on Block’s Bitcoin business.

Avory & Co. founder and chief investment officer Sean Emory said “Block had a strong quarter,” having “beat and raised” its guidance.

Source: Jevgenijs Kazanins 

The quarter also included a restructuring overhaul in late February, when Dorsey announced about 4,000 staff cuts, representing roughly 40% of the company’s workforce, as part of a plan to rely more on AI in search of greater operational efficiency. Block’s operational expenses rose 57.2% year-on-year to $3.08 billion in Q1.

Cash App’s quarter-over-quarter change in gross profit. Source: Block

Block expands Bitcoin offerings

In late April, Block launched a proof-of-reserves for its corporate Bitcoin treasury and for users to confirm Bitcoin balances on Cash App and Square as part of a push to increase transparency with its customer base. 

Related: Bitcoin exchange reserves fall to two-year low after $8B exodus 

In the same announcement, Block unveiled a Bitkey hardware wallet with a touchscreen to verify transactions and a new feature on Cash App allowing certain users to automatically convert payments into Bitcoin. 

It also started offering 5% Bitcoin cash back rewards for Square merchants and raised customer withdrawal limits fivefold to $10,000 per day and $25,000 per week, extending Dorsey’s push to broaden Bitcoin’s role in everyday payments. 

Magazine: Guide to the top and emerging global crypto hubs — Mid-2026 

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Amazon Builds AI Agent Payments With Coinbase and Stripe

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Amazon Builds AI Agent Payments With Coinbase and Stripe

Bedrock AgentCore Payments turns Amazon’s agent platform into a transactional layer, with Coinbase supplying x402 stablecoin rails and Stripe contributing wallet infrastructure via Privy.

Amazon Web Services on Thursday introduced Bedrock AgentCore Payments, a managed feature set that lets AI agents authenticate wallets, hold funds, and complete transactions inside their execution loop, with Coinbase and Stripe supplying the payment rails.

The preview puts stablecoins at the center of Amazon’s agentic commerce stack. Coinbase’s x402 protocol, an HTTP-native open standard for instant stablecoin micropayments, powers the first set of capabilities, while Stripe contributes wallet infrastructure through its Privy subsidiary. End users can fund either wallet type with stablecoins or fiat via debit card.

It is the clearest signal yet that x402 is on track to become a default settlement layer for machine-to-machine commerce. AWS said it joined Coinbase as a member of the x402 Foundation to develop open standards for the agent economy.

Coinbase’s Brian Foster, head of infrastructure growth and strategy, framed the launch in a press release as giving developers a “full stack to build agents that move money at software speed,” predicting that AI agents will soon outnumber humans as transacting parties.

Under the hood, when an agent calls a paid endpoint, the server returns an HTTP 402 “Payment Required” response. AgentCore then authenticates with the configured wallet, executes a stablecoin payment, attaches proof, and returns the content to the agent without breaking its reasoning loop. End users must explicitly authorize wallet access, and spending limits are enforced per session.

Coinbase is also exposing its x402 Bazaar, a directory of paid endpoints, through AgentCore Gateway as an MCP server. The integration lets agents discover paid services on their own rather than requiring developers to hardcode each integration.

Stripe’s contribution is delivered through Privy, the wallet-as-a-service firm Stripe acquired earlier this year. Henri Stern, CEO and founder of Privy, said the partnership aims to make stablecoin wallets for agents readily available to AgentCore developers.

AWS framed micropayments as the entry point and said future phases will extend agent transactions into broader commerce, including flight bookings, hotel reservations, and merchant purchases. The company is also working with Stripe toward fiat payment support beyond stablecoins.

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.

GITEX AI Kazakhstan opens doors to global tech leaders in Almaty

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GITEX AI Kazakhstan opens doors to global tech leaders in Almaty





Day one of the inaugural GITEX AI Kazakhstan has officially wrapped up in Almaty, establishing what organizers are calling the most ambitious technology gathering across Central Asia and the Caucasus. Operating as the region’s largest AI-first technology, startup, and digital investment event, the conference is hosted by the Ministry of Artificial Intelligence and Digital Development Kazakhstan, in close partnership with Astana Hub and the Akimat of Almaty.

Held under the patronage of the President of the Republic of Kazakhstan, H.E. Kassym-Jomart Tokayev, the summit marks a significant milestone for the rapidly growing Central Asian innovation ecosystem. The opening day was characterized by packed halls and high-stakes discussions, underscoring genuine momentum as the nation seeks to firmly cement its position as a primary regional technology hub.

A powerful convergence of global tech

The event has drawn an unprecedented international turnout, reflecting growing global interest in Central Asia’s digital potential. The exhibition floors and networking spaces feature 336 diverse tech enterprises and startups, operating alongside more than a hundred active investors searching for emerging opportunities.

Furthermore, more than 200 speakers representing over 50 different countries have descended on Almaty to share critical insights and foster cross-border partnerships. The sheer volume of senior technology executives and business attendees marks the gathering as the largest and most international technology event of its kind ever held in the region. Thousands of participants are leveraging the platform to forge new alliances, highlight breakthrough technologies, and fundamentally reshape business growth strategies for the digital era.

Strategic backing and AI development

Highlighting the profound strategic importance of the event at a national level, GITEX AI Kazakhstan also served as the venue for the second-ever meeting of the Kazakhstan Council for AI Development. This critical assembly took place as an exclusive, closed-door executive session on the event’s opening day.

The high-level council meeting was chaired directly by President Tokayev, reflecting the state’s deep commitment to technological advancement. Joining the President in leading the strategic discussions was Zhaslan Madiyev, the Deputy Prime Minister of Artificial Intelligence and Digital Development, who serves as the Secretary of the Council. As the event moves into its second day of programming, the strong governmental backing and massive international participation signal that Kazakhstan’s ambitious push into the global AI economy is only just beginning.


Bitcoin Analysts Say This Must Happen for a ‘Durable’ BTC Price Recovery

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Bitcoin Analysts Say This Must Happen for a ‘Durable’ BTC Price Recovery

Bitcoin’s (BTC) relief rally to $82,000 appears to be cooling off, and analysts say key levels must be reclaimed for BTC price to “confirm a durable continuation higher.”

Key takeaways:

  • Bitcoin must break resistance at $85,000-$88,000 to confirm that the bottom is in.
  • Profit-taking on rallies must cool down for a sustained breakout in BTC price. 

Bitcoin must reclaim $88,000 as support

Bitcoin’s 7% climb over the last week to $81,000 saw it reclaim key levels, including the true market mean at $78,200 and short-term holder (STH) cost basis at $79,100.

If the price sustains above these two levels, the 50% drawdown from the $126,000 all-time high to sub-$60,000 levels in February “would rank among the shortest episodes of its kind in Bitcoin market history,” Glassnode said in its latest Week Onchain newsletter, adding:

“Attention now shifts to the next major resistance at the Active Realized Price near $85.2K, which tracks the cost basis of all non-dormant supply and represents the next structural threshold the market must reckon with.”

Bitcoin risk indicator. Source: Glassnode

The last time Bitcoin reclaimed its active realized price, in October 2023, it was followed by a 170% rally to its previous all-time high of $74,000 reached in March 2024. These gains increased to 365% once the price hit its current record highs above $126,000.

Related: Bitcoin Bollinger Bands push key breakout as creator acts on ‘positive’ signal 

Bitcoin’s realized price by age cohorts reveals other major levels of resistance sitting higher up: the realized price of the three-to-six-month investor cohort at $88,880, the 12-month-18-month cost basis at $93,450 and the average purchase price of the six-to-12-month investor cohort at $111,850.

“For the bottom to be confirmed, price needs to clear $88.88K and hold – not wick through, not retest and fail,” CryptoQuant analyst IT Tech said in a Thursday Quicktake note, adding:

“Until then, every rally into $85K-$88K is walking straight into distribution from November 2025-Feb 2026, buyers desperate to get out flat.”

Bitcoin realized price – UTXO age bands. Source: CryptoQuant

A sustained move above that level could put recent buyers back in profit and reduce sell pressure, confirming a “durable continuation higher,” Glassnode added.

Analyst MikybullCrypto highlighted Bitcoin’s core levels of resistance before a “mega solid trend change,” including $88,000 and $92,000, based on Fibonacci level analysis. 

“Overcome these resistances, then $100K is guaranteed.”

BTC/USD daily chart. Source: MikybullCrypto

Profit-taking by long-term holders could delay BTC price recovery 

Bitcoin’s current pullback below $81,000 could be attributed to increased profit-taking by long-term holders.

Additionally, the 14-day simple moving average of profit realized by investors who have held BTC for more than one year has increased to about $180 million per day following the recent rally.

Should the current recovery continue, “this distribution pressure is likely to intensify,” Glassnode said, adding:

“The market’s ability to absorb this gradual increase in supply while sustaining the price above the True Market Mean will be the defining test of whether the current recovery has genuine structural legs.”

Bitcoin realized profit by age. Source: Glassnode

Meanwhile, realized losses remain elevated at $479 million per day, approximately 140% above the $200 million per day cycle baseline. 

A sustained compression of this indicator below $200 million per day would serve as a strong indicator that selling exhaustion is setting in and confirm a “more durable recovery regime,” Glassnode said, adding:

“Until that threshold is reached, the dual weight of long-term holder profit taking and top-buyer distribution at thin loss margins is likely to anchor the current rally.”

Bitcoin realized loss. Source: Glassnode

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

Bitcoin slips to $79,000, DOGE leads majors losses as negative funding rates set 10-year record

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Bitcoin slips to $79,000, DOGE leads majors losses as negative funding rates set 10-year record

The longer the funding rates stay red, the louder the short squeeze gets.

Bitcoin BTC$79,501.99 traded at $79,614 in Asian hours Friday, down 1.6% over 24 hours but still up 3.3% on the week, after pulling back from a Wednesday high of $81,500 that was the highest print since late January.

Ether dropped 2% to $2,278, dogecoin slid 3.8% to $0.1063, XRP fell 1.7% to $1.38, and BNB shed 0.7% to $638. Solana and TRON held in green territory at $88.14 and $0.3474 respectively. Dogecoin is the only major coin in the red on the seven-day tape.

The pullback came as U.S. forces fired on Iranian targets after attacks on American naval destroyers transiting the Strait of Hormuz on Thursday, per reports.

President Donald Trump described the strike as a “love tap” in an ABC News interview, said the ceasefire with Iran remains “in effect,” and threatened to hit harder if Tehran does not sign a deal soon. Brent crude climbed 1.2% to around $101 a barrel on the escalation, though oil is still down more than 6% on the week as the broader US-Iran de-escalation narrative continues to hold.

Equities took a similar pause. The MSCI All Country World Index slipped 0.3% and Asian shares fell 1.2% from a record close, though the region is still on track for a fifth straight week of gains. Wall Street futures were 0.2% higher in early trading, suggesting the pullback is profit-taking rather than a structural reversal.

Bitcoin futures funding rates have now stayed negative for 67 consecutive days, the longest stretch in 10 years per K33 Research. Funding rates are periodic payments between traders holding long and short futures positions, with negative funding meaning shorts are paying longs to keep their positions open.

A market where shorts have been paying for two-and-a-half months while price has grinded higher is the cleanest setup for a short squeeze, where a sudden price move forces those shorts to close positions and accelerates the rally.

FxPro chief market analyst Alex Kuptsikevich said in a note bitcoin’s pause this week is not a sign of buyer exhaustion.

“Bitcoin rose to $82,800 on Wednesday, approaching but not breaking through the 200-day moving average at $83,200. From its local highs, the leading cryptocurrency retreated to $81,300 at the time of writing,” he said.

Kuptsikevich added that the daily RSI hit overbought territory above 70, and that the previous three times this happened (August, October, January) were followed by sharp selloffs. “It is logical that market participants are taking a breather to assess the situation and gather strength.”

The options market is more cautious. QCP Capital said in a Telegram broadcast that monthly implied volatility remains around 41% and demand for put options persists, suggesting traders are buying bitcoin but continuing to hedge their downside.

Elsewhere, Research firm XWIN Japan flagged $93,000 as a medium-term target driven by closing the CME futures gap, though the firm cautioned the move may not be linear and could see a leg lower first.

For now, the trade sets up around two competing pressures. The negative funding extreme keeps the short squeeze on the table if bitcoin breaks $83,200. The Iran headlines and overbought RSI keep the door open for another retest of the lower range.

AI agents could solve crypto’s user problem

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AI agents could solve crypto’s user problem

The crypto industry’s embrace of AI is less about chatbots and more about building financial infrastructure for autonomous machines, says Chappy Asel, a former Apple engineer and founder of AI nonprofit The AI Collective.

Speaking at Consensus Miami, Asel, founder of The AI Collective, a global nonprofit AI community with more than 200,000 members across 150+ chapters, argued that as software agents increasingly make economic decisions on behalf of users and businesses, they will need payment systems capable of handling low-latency, programmable transactions at scale.

“When agents make the majority of financial decisions, economic decisions, how do they transact with each other?” Asel said during the panel. “You want them to be highly systematic, mechanistic. You want very small, micro transactions. You want very low latency.”

Asel, who previously worked on Apple’s Vision Pro and early Apple Intelligence efforts before launching The AI Collective, framed the convergence of crypto and AI through a practical lens.

“The number one thing that I’ve heard kind of throughout this conference… even my friends who only know about AI, they know nothing about blockchain, is they’ve heard about agentic payments,” he said.

Stablecoins already offer 24/7 settlement and smart contracts allow programmable execution. Marrying them together is the only logical way agentic payments — without a human in the middle — can become mainstream.

Still, the thesis remains early. AI agents are still nascent, and many companies today rely on centralized APIs and conventional payment systems. Attempts to build “agentic payments” infrastructure have so far generated little meaningful commercial activity, suggesting the narrative may be developing faster than actual demand.

Even if machine-to-machine commerce takes longer to materialize, Asel argued the broader overlap between crypto and AI may emerge elsewhere first.

“A lot of people will tell you, oh, it’s the models aren’t good enough,” Asel said. “It’s none of that. It’s literally compute, data centers, energy that is driving pretty much all decision-making in AI right now.”

That framing reflects a wider shift in the AI economy, where access to chips, power, and data center capacity is becoming the defining competitive advantage.

Parts of the crypto industry are already moving to capture that opportunity. Several bitcoin miners have spent the past year repositioning toward AI hosting and high-performance computing, betting that infrastructure originally built for mining can be repurposed for AI workloads.

For Asel, the practical advice for founders navigating the uncertainty was simple: experiment.

“When the world is more uncertain than it ever has been… things will only get crazier,” he said. “That warrants that you are spending more and more time playing around with the new technology.”

Crypto’s consumer adoption problem has always been partly a usability problem.

But AI agents do not need onboarding tutorials, aren’t intimidated by MetaMask, or need help remembering seed phrases. If autonomous software becomes a meaningful economic actor, crypto may have found a user base that actually thinks in code.

Sharjah Media City Taps Fintech Ziina to Accelerate Digital Payments for SMEs

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Sharjah Media City Taps Fintech Ziina to Accelerate Digital Payments for SMEs

Sharjah Media City (Shams) has officially partnered with Ziina, a UAE-based fintech platform, to empower local businesses with secure and innovative financial tools. The strategic alliance aims to support entrepreneurs and small-to-medium enterprises (SMEs) by enhancing operational efficiency and driving business growth within the Shams ecosystem.

The partnership directly aligns with the UAE’s broader national vision of advancing a cashless, digital economy. Under the new agreement, Ziina will equip businesses with a suite of advanced digital payment capabilities.

Key features of the integration include:

  • Access to a mobile-first platform explicitly designed for everyday business use.

  • The ability for businesses to seamlessly send, receive, and manage their payments.

  • Tools that help streamline complex financial operations and improve the overall user experience.

Incentivizing digital adoption

To actively encourage the wider adoption of digital financial solutions, Ziina is offering a significant introductory benefit to new users.

As part of the collaboration, Shams clients will receive an exclusive incentive of AED 10,000 in fee-free transactions. This financial initiative enables local businesses to freely explore and utilize the digital payment platform without incurring any initial setup or transaction costs.

Leadership commentary

Rashid Sahoo, director of operations at Sharjah Media City (Shams), emphasized the free zone’s dedication to supporting modern enterprises.

“This partnership with Ziina reflects our ongoing commitment at Sharjah Media City (Shams) to providing a fully integrated business environment that supports the growth of companies and keeps pace with rapid digital transformation. We are committed to enabling entrepreneurs and SMEs to access innovative financial solutions that enhance operational efficiency and simplify daily transactions.”

Tomas Roberio, head of partnerships at Ziina, noted that the collaboration marks an important step in expanding the fintech’s digital footprint across all seven emirates.

“As a UAE-built payments platform licensed by the Central Bank of the UAE, Ziina is focused on delivering secure, seamless financial experiences that make it easier for businesses to manage payments efficiently. We look forward to supporting the Shams ecosystem with frictionless payment solutions that simplify operations and reinforce our commitment to enabling SMEs.”

Founded in 2020, Ziina currently serves as a financial partner to over 470,000 businesses and consumers across the UAE. For Shams, the strategic partnership further reinforces Sharjah’s established position as a regional hub for innovation, creativity, entrepreneurship, and investment.

America’s Crypto Future Is Unstoppable, According To Eric Trump

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America’s Crypto Future Is Unstoppable, According To Eric Trump

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin could cross the $1 million mark. That was one of the boldest claims Eric Trump made Wednesday at Consensus Miami 2026, where the businessman and son of US President Donald Trump laid out his case for why the United States is pulling ahead in the global race for crypto leadership.

Banks No Longer Sitting On The Sidelines

The shift among major financial institutions was a central thread in Trump’s remarks. Large banks — once openly skeptical of digital assets — are now offering Bitcoin custody services and allowing customers to use their crypto holdings as loan collateral.

Private wealth managers are recommending Bitcoin to clients, and retirement accounts like 401(k)s are beginning to open up to crypto investments.

Trump pointed to spot Bitcoin exchange-traded funds as a turning point. Since the first one launched in January 2024, these products have pulled in significant volumes of institutional money, bringing a new class of investors into the market who previously had no easy way to gain exposure.

“As America has gotten clarity, every country around the world has noticed, and every country around the world is starting to follow,” he said.

AI Enters The Picture

Trump also connected the rise of artificial intelligence to the future demand for digital currencies. His argument: AI systems will eventually need to move money on their own, and physical cash or gold simply won’t fit that model.

BTCUSD now trading at $89,481. Chart: TradingView

Digital currencies, in his view, are the only option that makes sense in a world where payments are increasingly automated and machine-driven.

He did not name specific AI platforms or payment systems, but framed the relationship between AI and crypto as something close to inevitable — a pairing that would grow more apparent as both technologies matured.

A Race America Intends To Win

On the question of global competition, Trump was direct. He said Asia would not lead this space, and that the US was fully committed to coming out on top. “We’re hell-bent on winning that race,” he said.

He credited recent regulatory progress in the US for giving the industry direction and drawing the attention of other nations.

As rules become clearer, he argued, more businesses and investors gain the confidence to move forward — and the momentum only builds from there.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Vitalik Buterin gets sandwiched by ‘JaredfromSubway’ as Ethereum MEV risks linger

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Vitalik Buterin gets sandwiched by ‘JaredfromSubway’ as Ethereum MEV risks linger

The MEV gods do not discriminate.

Vitalik Buterin, Ethereum’s co-founder and a vocal advocate for fixing toxic maximal extractable value, got hit by the very kind of attack he has been campaigning against, blockchain data from earlier this week shows.

Data shows a transaction by Buterin on April 30 was sandwiched by the bot in block 24993038, per Etherscan data, resulting in a worse execution price for the Ethereum co-founder.

A sandwich attack is when a bot spots a trader’s pending transaction, places its own buy order in front to push the price up, lets the victim execute at the inflated price, then dumps the tokens immediately after to pocket the difference. The victim usually does not even notice, as they just get a slightly worse fill than they should have.

Analysis by CoinDesk shows Buterin swapped 26,544 digitalbits (XDB) tokens worth roughly $3.86 for 0.00197 ETH worth $4.56. The bot ran $1.14 million worth of WETH through SushiSwap and Uniswap V2 to manipulate the XDB price between the two pools right before Buterin’s swap landed.

After gas fees of $5.14, Jared appears to have lost money on this particular sandwich, and Buterin’s slippage was likely in a few cents.

This shows the bot is so industrialized that it scans every pending transaction in the mempool for any opportunity to insert itself, profitable or not.

(CoinDesk)

Buterin has spent the past several months pitching encrypted mempools as a fix for toxic MEV in Ethereum’s 2026 roadmap.

MEV is the profit that whoever orders transactions on a blockchain can pocket by reshuffling them. Anyone running a bot that watches the public mempool, the holding pen where pending transactions sit before being added to a block, can spot opportunities to insert their own trades around someone else’s.

Sandwich attacks are the most aggressive form, with cumulative MEV extracted on Ethereum is now over $1.2 billion and these type of attacks accounting for roughly 51% of the total volume.

Buterin, among other developers, argue that MEV creates a hidden tax on regular users that can favour large, specialized operators over everyone else.

Jaredfromsubway.eth rose to prominence in 2023 as it sandwiched traders of meme coins like pepe and wojak during the then meme frenzy.

It briefly accounted for 7% of all gas fees on the network in April that year, and has reportedly extracted more than $7 million from victims across hundreds of thousands of transactions since.

The bot adapts faster than the protocols trying to stop it. It has survived contract upgrades, mempool filtering, and several attempts by builders to design exploits that drain its funds.

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