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Colombian President Proposes Building a Bitcoin Mining Hub

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Colombia’s President Gustavo Petro said the nation’s Caribbean coast has the potential to become a Bitcoin mining hub, leveraging its surplus renewable energy to attract foreign investment and spur economic development.

In a post on X on Tuesday, Petro said the Caribbean cities of Barranquilla, Santa Marta and Riohacha could host Bitcoin (BTC) mining facilities and tap the country’s clean energy sources, following a path similar to those of Venezuela and Paraguay in recent years.

“It’s an immense boost to the development of the Caribbean,” Petro said, proposing that the Wayúu community — Colombia’s largest Indigenous community, which mainly resides on the Caribbean coast — could be co-owners of the project.

Bitcoin mining analysts such as Hashlabs managing partner Jaran Mellerud have said the industry can have a sizable economic impact on emerging countries looking to convert otherwise unused electricity into cash flow.

There’s also an opening for countries with low electricity costs to capture a larger share of the Bitcoin network hashrate as US commercial miners continue expanding into AI and high-performance computing in pursuit of higher-margin opportunities. 

Petro’s remarks were made in response to a post from Luxor Technology’s Alessandro Cecere, who noted that Paraguay’s share of global Bitcoin hashrate has risen to 4.3% since tapping into hydroelectric energy at its Itaipu dam.

The small, landlocked South American country is now the fourth-largest Bitcoin mining country by hashrate, behind the US, Russia and China.

Global Bitcoin hashrate map. Source: Hashrate Index

A World Bank report published in April 2024 found that Colombia generates as much as 75% of its electricity from renewable energy — more than twice the global average. 

Tapping these renewable sources would mitigate concerns flagged by Petro that Bitcoin mined with fossil fuels contributes to global warming and potential “climate collapse.”

Petro’s presidential term ends in August 

Petro has served as Colombia’s president since August 2022 and has adopted a relatively neutral stance on Bitcoin and the crypto industry.

Related: K Wave Media abandons Bitcoin treasury push for AI infrastructure 

Petro only has another three months to lead the Bitcoin mining initiative as his presidential term comes to an end in August.

He is not running in Colombia’s forthcoming presidential election on May 31 due to constitutional limits.

Data from prediction market Kalshi suggests that left-leaning Senator Iván Cepeda Castro and Abelardo de la Espriella, a conservative lawyer and free-market advocate, are the clear front-runners to replace Petro.

Neither candidate has made significant public comments on Bitcoin or digital assets to date. 

Magazine: Bitcoin may face hard fork over any attempt to freeze Satoshi’s coins

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.

Lighter Names USDC as Preferred Stablecoin in New Circle Partnership

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The agreement spans spot and perpetual trading, settlement, liquidations, and onboarding flows on the decentralized exchange.

Circle and Lighter have entered a strategic partnership that designates USDC as the default and preferred stablecoin across the decentralized perpetuals exchange’s full product stack.

The integration covers spot and perpetual trading, settlement, liquidations, and onboarding flows, Circle said in a Tuesday post on X.

“As onchain markets scale, trusted dollar infrastructure becomes core market infrastructure,” the stablecoin issuer wrote, framing the deal as part of a broader push to embed its digital dollars deeper into onchain trading venues.

Lighter responded that USDC has been a foundational asset for the protocol and its traders since day one, adding that the two firms plan to continue building together.

The deal lands as Lighter works to recover momentum lost since its December token generation event. The exchange briefly led the perp DEX market by volume in November and December, but has since slipped behind Hyperliquid, Aster, and EdgeX.

Lighter currently ranks fourth by 7-day perp volume at roughly $8.7 billion, per DefiLlama. Meanwhile, the LIT token has struggled despite a string of feature rollouts, including unified collateral accounts and multi-asset margin.

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

Enter Bob, IBM’s Friendly AI Coding Assistant

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BOSTON — Meet Bob, the supportive and collaborative AI coding helper that automates much of the software development process while leaving the human in charge.

“It’s Bob the Builder,” said Venkat Venkatesan, senior manager in the tax technology and transformation practice at EY, the global tax and consulting firm, affectionately referring to the well-known animated British TV show featuring a builder and his helpful talking machines. “When I first started using Bob, I knew it was not a simple coding assistant.” 

You could say that Bob, released about a week before the start of IBM’s Think 2026 user conference, was the star of the show, popping up in panels and presentations and even the opening keynote by Arvind Krishna, the long-established tech vendor’s chairman and CEO. 

In a way, Bob is IBM’s answer to Claude Code, the widely used coding agent from IBM partner/competitor Anthropic, and Codex from OpenAI, another generative AI leader. 

Related:Enterprises Contain AI Agents to Balance Risk, Reward

Except that Claude is one of the AI models at the heart of Bob, which routes coding tasks to Claude, open source models from France-based AI vendor Mistral, and Granite, IBM’s own family of lightweight models, depending on the nature of the job. 

Venkatesan and her team, who are building out an extensive global tax platform for EY, had been using Bob in private beta for a few months before IBM made it generally available late last month and introduced it to the wider world at the conference. 

“I would call it an agent,” Venkatesan said in an interview on Tuesday, the official start of the conference. “It helps you during every phrase. It’s like you’re working with it.” 

In the coding community, pair programming is a traditional practice in which two developers share a single workstation to collaboratively write code. 

“Bob is like that. It’s like a digital worker. You both work together,” Venkatesan said. 

Bob, who has his own mascot, was certainly not the only new IBM AI creation on display this week. 

Krishna positioned AI at the core of the 115-year-old company’s go-forward strategy, saying in his keynote that IBM itself has applied AI and automation across all of its operations and realized $4 billion in productivity gains. 

“As you talk to different clients, as you talk to different geographies and industry sectors, this is the big change,” Krishna said. “It’s no longer about how much your budget is. The question comes down to, how deeply is AI embedded in your business processes?” 

Among other new developments was the release of 150 prebuilt agents in Watsonx Orchestrate for hybrid cloud and mainframe environments and a major expansion of the Concert AIOps platform. IBM also touted a new generation of the Watsonx Orchestrate agent management system and an integration of Watsonx and Confluent’s streaming data platform, after IBM’s $11 billion acquisition of Confluent. 

Related:SoundHound Launches Self-Learning AI Agent Platform

For many observers, IBM is wise to strategically extend its generative AI offerings — led by the Granite and Watsonx lines of models — to hybrid cloud and mainframes, while retaining many cloud AI products and services and maintaining a multi-model, multi-cloud approach. 

IBM has a long tenure with many of the world’s biggest and oldest financial institutions and other companies in highly regulated industries that value the data privacy and security of mainframe computers. It’s a trusted brand with loyal customers that are moving forward with both on-premises IT operations and more modern cloud and AI technologies. 

Remarkably for IBM, which still builds and sells mainframe hardware and software, mainframes are still a profit center, said Sanjeev Mohan, founder and analyst at the SanjMo advisory firm, in an interview at the conference. 

“If you’re a financial services company or an agricultural company, and for 70% of global transactions, everything still flows through mainframes,” Mohan said. “Mainframes are a growing business, not a dying business.” 

Related:Mistral’s Model Lets You Vibe Long-Running Code in the Cloud

Likewise, IBM’s decision not to engage competitively with the biggest generative AI vendors and instead focus on smaller and lighter-weight models was correct, Mohan said. 

“What IBM is saying is that, with so much competition, ‘If we focus on very niche areas where their clients are, then we can cut a swath based on where the need is rather than create a generic model,’” he said. 

Meanwhile, the IT department of another IBM customer, Pennsylvania-based SEI, a large financial services company, is not going the mainframe route in favor of a fleet of AI agents it plans to build with IBM Consulting, the professional services wing of IBM. The company’s accounting section, however, still runs on IBM mainframes. 

IBM Consulting recently won a competitive request for proposals at SEI to design agents for cloud-based operations for a multitude of business processes, including replacing dated optical character recognition document systems. 

“They’re coming in to really help us reexamine our workflows bottom-up and reengineer those workflows and apply AI where applicable and potentially build out those agents,” said Zachary Womack, CTO at SEI. “Those agents would be deployed on our framework and may require tech that we don’t have. In the future, operations goes from banging away on applications to orchestrating agents.” 

That tech could include Watsonx models and agents, Claude or OpenAI models, Womack said.  

“We definitely are multi-model in our approach,” he said. “All that will be part of the harness we are continuing to build out.” 

As for ROI, that remains to be seen, as are the metrics SEI will use to determine it. 

“It’s still early days. The question of ROI is a good one,” Womack continued. “I think people are still evaluating the promise that’s there.” 

One IBM customer is retired tennis superstar Andre Agassi and his sports entertainment company. 

Agassi appeared on the main stage Tuesday to talk about his Watsonx-powered racket sports digital coaching mobile app, set to be released later this year.  

Agassi said that when he played, preparation was key to overcoming his physical limitations as neither the biggest nor fastest player on the pro tennis tour. 

He said he had to count on his coaches and trainers to help him perform at a high level. 

“And now, all of a sudden, when you start seeing the capability of an AI, my partnership with IBM, you start to realize … we have multiple ways to use this to enhance this game in a beautiful way, and take it deep in the future,” he said. 

Crypto Exchange Bullish Strikes $4.2 Billion Deal For Equiniti To Build Tokenized Securities Infrastructure

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Bullish has agreed to acquire global transfer agent Equiniti in a $4.2 billion transaction that aims to fuse traditional market infrastructure with blockchain-based systems, marking one of the largest deals tied to tokenized securities.

The agreement combines Bullish’s digital asset platform with Equiniti’s role as a core record-keeper for public companies. Equiniti services nearly 3,000 issuer clients, supports more than 20 million shareholders and processes about $500 billion in annual payments. Transfer agents maintain shareholder records, manage dividend distribution and handle corporate actions, placing them at the center of equity market operations.

Under the terms, Bullish will assume $1.85 billion of Equiniti’s debt and issue about $2.35 billion in stock, subject to adjustments. The companies expect the deal to close in January 2027, pending regulatory approvals.

The combined firm is projected to generate about $1.3 billion in adjusted revenue in 2026, with more than $500 million in adjusted EBITDA less capital expenditures. Bullish expects revenue growth of 6% to 8% from 2027 through 2029, with tokenization and blockchain services contributing a larger share over time.

Blockchain tech is making a push

The transaction reflects a broader push across financial markets to bring equities and other assets onto blockchain infrastructure. Bullish executives frame the acquisition as a way to address a gap in tokenized markets: the absence of a regulated transfer agent built for digital securities.

Bullish provides token design, issuance, compliance and trading services, along with liquidity and market data through its ownership of CoinDesk. Equiniti contributes established relationships with listed companies and regulators, along with its role as a system of record for equity ownership.

Together, the firms plan to offer an integrated platform that spans the full lifecycle of tokenized assets, from issuance to registry management and secondary trading. The system is designed to operate alongside existing financial infrastructure, including central securities depositories, custodians and broker-dealers.

Executives argue the structure could allow issuers to track ownership in real time, replacing settlement processes that can take days. The platform also aims to automate corporate actions and expand access to investors across jurisdictions. For investors, the model promises continuous trading, faster settlement and fewer intermediaries.

Bullish said they plan to support trading in tokenized equities outside the United States, targeting international investors seeking access to digital representations of shares. The platform will also bridge traditional certificated shares with tokenized formats, allowing both to coexist within a single system.

Equiniti will continue to operate under its existing leadership, with CEO Dan Kramer and his team retaining responsibility for day-to-day operations, client relationships and regulatory compliance. Bullish will provide infrastructure and strategic support tied to tokenization initiatives.

Private equity firm Siris, which acquired Equiniti in 2021, will receive two board seats in the combined company. The deal includes a provision allowing Siris to acquire certain non-core business lines.

The acquisition lands amid a rise in consolidation across the digital asset sector, as firms seek to build end-to-end financial platforms that combine trading, custody, payments and compliance. 

Yesterday, The Depository Trust & Clearing Corporation said they will begin piloting tokenized securities trading in July 2026, with a full launch scheduled for October. The initiative will run through its subsidiary, the Depository Trust Company, which holds over $114 trillion in assets, underscoring the scale of the shift.

Crypto ETFs go mainstream as traditional finance locks in

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Miami Beach, FL — “The market is the market… it’s not crypto and traditional anymore,” said Dave LaValle, President of CoinDesk Indices and Data, on a panel at Consensus Miami Tuesday, capturing a shift echoed across issuers and asset managers.

As traditional finance firms pour in, Douglas Yones of Direxion argued that institutional participation is “good for the industry,” bringing standardization and discipline to processes that were once fragmented.

That institutional layer is also unlocking global access. In regions where spot crypto remains restricted, particularly across parts of Asia, ETFs have emerged as the primary on-ramp.

“ETFs are a plug-and-play solution,” said Krista Lynch, SVP of ETF Capital Markets at Grayscale, noting they fit seamlessly into existing risk systems that can’t accommodate direct bitcoin exposure.

The result is rapid adoption. Lynch points to surging demand for features like in-kind redemptions and collateral usage, while Steven McClurg, CEO of Canary Capital, highlights a simpler appeal: security and liquidity. “Some investors would rather hold an ETF and let issuers handle custody,” he said.

Where the market goes next is already taking shape. Index-based products are poised to organize a growing universe of assets, while staking and income-generating strategies could define the next wave. Tokenization, though promising, remains in its early stages, according to McClurg.

Still, the direction is clear: ETFs aren’t just expanding crypto access, they’re redefining how the asset class is structured, distributed, and owned globally.

Read more: Recovery in bitcoin ETF inflows is real. It is just not complete yet.

Overseas demand for U.S equities is growing, says Kraken senior VP Johan Kerbrart

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Demand for U.S. equities is rising globally, pushing investors to look beyond domestic markets, Robinhood senior VP and general manager in charge of crypto, Johann Kerbrat said during a Fireside chat at Consensus 2026 in Miami.

“We are seeing a lot of demand for U.S. stocks from overseas investors, particularly tied to AI-related companies,” Kerbrat said, adding that access remains limited in many regions compared with the United States.

Kerbrat said investors should shift from country-specific strategies toward global allocation now that international 24/7 trading platforms are available to them. “It is time for a lot of investors to really think about not just how to invest in one specific country, but also how to have a global portfolio,” he said.

The Kraken executive pointed to tokenization and around-the-clock trading as key enablers. “We think it is going to be 24/7. We think it is going to be instant settlement,” he said, describing features that could differentiate tokenized assets from traditional brokerage products.

The discussion, moderated by Crypto in America host Eleanor Terrett, also addressed regulatory constraints in the United States. Kerbrat said “regulation in the U.S. has been less than friendly in the past,” though he noted recent engagement with policymakers has improved.

Robinhood has launched tokenized stock products in Europe using a derivative model that tracks underlying assets, with plans to expand access to additional asset classes including private equity. Kerbrat said the goal is broader participation in markets that have historically been limited to accredited investors.

“I think it is really important to give them the choice to be able to invest in it before it goes public,” he said, referring to private companies.

Kerbrat said adoption will depend on offering new functionality rather than replicating existing brokerage services, with lending, collateralization and continuous trading cited as areas of development.

Kraken, which trails platforms like OKX, Bybit and Coinbase (COIN) in spot trading volumes but remains a major player in the crypto derivatives market. is a U.S.-based crypto exchange where users can buy, sell, and trade digital assets like bitcoin and ether using fiat or crypto. It has expanded into services such as derivatives, staking, and custody, positioning itself as a more full-service trading platform beyond a basic retail app.

Bitcoin Rallies Higher Even As Derivatives Lack Conviction

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Key takeaways:

  • While Bitcoin onchain activity and derivatives show a lack of participation from traders, record spot ETF inflows point to strong institutional demand.
  • The absence of leveraged longs may actually fuel further upside as sellers are forced to buy back if Bitcoin edges higher.

Bitcoin (BTC) gained 7% over the past week, breaking above $81,000 for the first time in over three months. Despite the strong price performance, data suggests that Bitcoin derivatives lack optimism from investors and this raises questions on the rally’s sustainability. 

Bitcoin derivatives fail to mirror investors’ joy over $81,000

Macroeconomic and several onchain metrics point to softening demand.

Bitcoin two-month futures basis rate. Source: Laevitas

Bitcoin monthly futures traded at a 1% annualized premium (basis rate) relative to spot markets on Tuesday, landing well below the neutral threshold. Typically, sellers demand a 4% to 8% premium to compensate for the cost of capital. This cautious sentiment took hold in late January, when Bitcoin was trading at $90,000, partly explaining the current lack of enthusiasm.

To confirm if the issue is limited to futures, one should assess the demand balance between put (sell) and call (buy) options. Under neutral conditions, these instruments trade within a -6% to +6% premium relative to each other. When professional traders fear downside risks, the delta skew metric moves above 6%.

Bitcoin 30-day options delta skew (put-call) at Deribit. Source: Laevitas

The Bitcoin delta skew moved closer to the 6% neutral threshold on Tuesday, though it remained slightly bearish. Whales and market makers do not appear particularly worried about an imminent crash, but bulls’ conviction has clearly stagnated. With Brent crude oil prices hovering near $110, persistent inflation concerns are weighing on traders’ expectations for economic growth.

US five-year inflation expectation vs. Euro 10-year government bond yields. Source: TradingView

US inflation expectations neared a 10-year high of 2.5%, according to data from the Federal Reserve Bank of Cleveland. Simultaneously, investors are demanding higher returns to hold Eurozone government bonds. Despite these inflationary pressures, the tech-heavy Nasdaq 100 Index surged to an all-time high on Tuesday, signaling a broader risk-on environment.

Declining Bitcoin onchain activity faces heavy spot ETF accumulation

Bitcoin may have benefited from this increased risk appetite, but weak onchain metrics hints with declining retail demand.

Bitcoin onchain daily volume (USD) vs. number of transfers. Source: Glassnode / Cointelegraph

Daily network transfer volume has plummeted 54% from three months ago, dropping to $4.1 billion. Similarly, the number of transfers is nearing its lowest level in over five years. While Bitcoin’s price action is not strictly dependent on onchain activity, these metrics serve as a proxy for general public interest and adoption.

The temporary pause in Strategy’s (MSTR US) accumulation ahead of its earnings release may have sparked some unwarranted fear. The company, led by Michael Saylor, maintained an aggressive acquisition pace over the previous four weeks. However, analysts expect Strategy to report a quarterly net loss due to its mark-to-market Bitcoin accounting.

Related: Bitcoin turns risk on as stocks hit new highs and miner profits rise: Is $85K BTC next?

Macroeconomic weakness and declining onchain activity negatively impacted Bitcoin derivatives, but the $1.16 billion in net inflows into US-listed Bitcoin spot exchange-traded funds (ETFs) between Friday and Monday suggests rising institutional demand.

Ultimately, the lack of demand for leveraged bullish positions in Bitcoin derivatives might serve as a catalyst for further upside. As prices climb, shorts (sellers) may be forced to close their positions at a loss, fueling additional momentum.

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 tops $81,000 as Strategy mulls selling BTC to fund dividend obligations

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Bitcoin zoomed past $81,000 in Asian hours Tuesday, according to CoinDesk market data, up 6.7% on the week and riding the broader risk-on tape that has equities printing records on fading Iran tensions and renewed AI optimism.

Other crypto majors caught the bid. Solana zoomed 3% to $87.35. Dogecoin added another 4% to $0.1158, extending its weekly gain to 14.5% as futures open interest sits at year-highs. XRP, BNB and TRX all printed green on the day.

Ether is the laggard, off 0.3% over 24 hours despite holding a 3.9% weekly gain at $2,376. Spot ETH ETF flows turned negative last week, ending a three-week inflow streak.

Wall Street gauges closed at all-time highs Tuesday after President Donald Trump signaled progress toward a “final agreement” with Iran and announced a pause on Operation Project Freedom for a short period. Brent crude fell 1.7% to about $108 a barrel. The dollar, which had been the haven of choice through the US-Israel war on Iran, weakened against all its G-10 peers.

Asian equities zoomed to an all-time high on Wednesday morning, with the MSCI Asia Pacific index advancing 1.8%. South Korea’s Kospi jumped more than 6% to a record, with Samsung Electronics surging 15% to reach a $1 trillion valuation, the second Asian company ever to clear that mark.

Strong earnings from Advanced Micro Devices and Super Micro Computer added to the AI-trade momentum, with Nasdaq 100 futures up 0.6%.

A key development came as Strategy executive chairman Michael Saylor told in the company’s Q1 2026 earnings call that it may sell a portion of its bitcoin holdings to fund dividend payments.

“We will probably sell some bitcoin to pay a dividend just to inoculate the market and send the message that we did it,” Saylor said.

The world’s largest corporate bitcoin holder, sitting on 818,334 BTC at an average acquisition cost of $75,537, has not sold any of its position before. The model has always been to buy and hold.

Strategy posted a $12.54 billion Q1 net loss as bitcoin’s slide from October’s $126,000 peak weighed on the company’s mark-to-market accounting. The firm carries roughly $1.5 billion in annual dividend obligations across preferred stock and outstanding debt, with about 18 months of USD reserves to cover them at current run-rates.

MSTR shares dumped over 4% in after-hours trading on the announcement and BTC briefly slipped under $81,000 before recovering.

Saylor framed the move as a feature of the model rather than a break from it.

“You buy bitcoin with credit, you let it appreciate, and then you sell bitcoin to pay the dividend.”

That is a different sentence than every prior Strategy quarter, where the playbook was to issue more debt or equity to fund obligations rather than touch the BTC stack.

FIS Brings Agentic AI to Banking with Anthropic, Starting with Financial Crimes

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WHY THIS MATTERS The true significance of this partnership between FIS and Anthropic is not just faster case resolution, but a structural shift in how financial institutions handle regulatory compliance. For too long, anti-money laundering (AML) operations have been defined by manual evidence assembly—a process costing banks tens of billions annually and consuming investigator time that should be spent on threat assessment. This move represents a major step into agentic AI, where autonomous systems handle data collation and initial risk scoring across complex, disconnected core banking systems. It’s a value-first proposition: by cutting investigation time from hours to minutes, banks can immediately refocus human expertise on the most critical high-risk cases. This is crucial as emerging regulations push the industry away from simple volume processing toward a risk-based, intelligence-led approach. Any technology that promises to transform a major cost-center into an engine for efficiency and enhanced risk mitigation is essential reading for every financial services executive.

FIS® (NYSE: FIS), the financial technology company powering nearly 12% of the global economy, announced that it is working with Anthropic to bring agentic AI to banking, beginning with the Financial Crimes AI Agent. The agent will compress anti-money-laundering investigations from hours to minutes, automatically assembling evidence across a bank’s core systems, evaluating activity against known typologies, and surfacing the highest-risk cases for investigator review. BMO and Amalgamated Bank will be among the first institutions to deploy the agent, with broader availability planned for H2 2026. Anthropic’s Applied AI team and forward-deployed engineers (FDEs) are embedded with FIS to co-design the Financial Crimes AI Agent and transfer knowledge so FIS can build and scale additional agents independently over time.

This is a strategic initiative, informed by client need, with a clear view toward where banking is headed and a commitment to get there safely and at scale. FIS is combining its decades of proprietary financial data and infrastructure representing billions of transactions, deep regulatory expertise, and the compliance and fraud systems that underpin the global financial system with Anthropic’s frontier AI reasoning, to create a single platform.

“Every bank in the world wants AI that acts, not just assists. The future is about a trusted provider who manages the data, who governs the agents, and who stands between your customers and the AI making decisions about their money. FIS built the architecture that orchestrates this intelligence. Anthropic is a leading AI provider, Claude is the reasoning engine inside, and the Financial Crimes AI Agent is the first proof of what this architecture can deliver for financial institutions that are ready to become the agent-first bank of the future. It’s a new era in banking.” — Stephanie Ferris, CEO and President, FIS

“FIS brings decades of trusted relationships with financial institutions, deep regulatory knowledge, and the transaction data that makes an AI agent useful in practice. That’s why FIS chose Claude, they needed a model that could reason through complex investigations accurately, explain its work, and operate safely inside regulated workflows. We embedded our Applied AI team inside FIS to build the Financial Crimes AI Agent together, so every conclusion the agent reaches links back to its source data, and every decision stays with the investigator.” — Jonathan Pelosi, Head of Financial Services, Anthropic

A New Kind of Strategy

FIS is operating as the foundation, which includes the data platform, the governance layer, the deployment infrastructure, and the client relationships. Through FIS’s data and AI platform — client data will remain within FIS-controlled infrastructure at all times. Anthropic’s Claude models are powering the reasoning capabilities across the strategy. Anthropic’s Applied AI and forward-deployed engineers are co-designing the inaugural Financial Crimes AI agent, while FIS’s product and compliance teams will build additional agents purpose-built for bank-grade operations. This architecture leverages FIS’s Orchestrated Intelligence to deliver AI enterprise-scale outcomes when the data, infrastructure, and governance underneath it are unified.

Why We Started with Financial Crimes

The UN estimates that $2 trillion in illicit funds flows through the global financial system every year. U.S. financial institutions alone spend $35–40 billion annually on AML operations, yet investigators spend the majority of their time manually assembling evidence across disconnected systems before any analysis can begin. Emerging U.S. regulation is now pushing institutions to move beyond this model, shifting resources toward the highest-risk threats.

The Financial Crimes AI Agent will change that. At case open, the agent will assemble the complete evidence package across a bank’s core systems automatically via secure connections, whether FIS-run or bank-owned, and evaluate activity against known typologies. Investigators will remain in control of every decision, freed to direct their expertise toward the cases that matter most.

The agent will be evaluated on:

  • Reducing cost per case, by eliminating the manual evidence gathering that consumes the majority of investigator time today.
  • Reducing low-value manual work, ensuring investigators spend their time on critical decisions.
  • Cutting case review time, freeing investigators to direct their expertise toward the cases that matter most.

BMO and Amalgamated Bank will be among the first in development, with broader availability to FIS financial institution clients planned for H2 2026.

The Data Foundation That Makes This Work

For most institutions, financial crime data sits locked in disconnected systems, impossible to act on at the speed investigations demand. FIS sits at the center of it. As the system of record for transactions, payments, deposits, credit and customer activity, FIS unifies a bank’s data into a single, governed environment delivering the analytics and AI capabilities that would otherwise require years and significant investment to build independently.

FIS serves as the system of record for transactions, payments, deposits, credit, and customer activity across thousands of financial institutions — giving the Financial Crimes AI Agent native access to the data investigators need without new integrations or outside vendor exposure. For institutions running non-FIS core systems, the agent connects via open integration standards. In all cases, the governance, evaluation, and audit layer remains within FIS-controlled infrastructure, so regardless of where the source data lives, every agent conclusion is traceable and every decision is recorded within the platform clients already trust.

A Growing Agent Roadmap

Financial crimes is the first proof point. FIS is building a roadmap of curated agents on the same platform, each purpose-built for a specific banking pain point, each drawing on FIS’s unified data and regulatory infrastructure, each powered by Claude.

The roadmap ahead spans credit decisioning, deposit retention, customer onboarding, and fraud prevention, which will be available to FIS financial institution clients through a single, governed platform.

FF NEWS TAKE: This announcement is a crucial signal that agentic AI has definitively arrived in the highest-stakes areas of finance, setting a new industry standard. The combination of FIS’s central data infrastructure and Anthropic’s advanced reasoning engine moves the needle significantly, offering a bank-grade compliance solution with traceable decisions. The immediate focus should shift from the initial Financial Crimes Agent to the subsequent roadmap: we must watch how quickly purpose-built agents for critical areas like credit decisioning and consumer fraud prevention are rolled out, and whether they successfully maintain this robust governance layer at scale.

North Korea terror victims escalate fight to seize $71 million from Aave hack

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Lawyers seeking to seize $71 million in frozen ether for victims of North Korean terrorism changed their legal strategy Tuesday, arguing in a new court filing that the April 18 rsETH exploit was not theft but fraud, directly countering Aave’s attempt to void a restraining notice blocking the release of the assets.

In a 30-page opposition brief filed in the Southern District of New York, a lawyer representing the North Korean terror victims argues the exploit was not a smash-and-grab theft but a fraudulent lending transaction, and that under longstanding U.S. law, fraudsters who acquire property through deception can obtain legal title to it, even if that ownership is later reversible.

“What actually happened is that North Korea borrowed assets from users of the ‘Aave Protocol’ and did not pay it back, and when the ‘Aave Protocol’ sought to liquidate North Korea’s collateral, the ‘Aave Protocol’ unhappily discovered that the collateral was worthless,” the new filing reads.

“The law is crystal clear that a fraud victim passes title, not merely possession, to a fraudster… Charles Ponzi obtained, through his now-eponymous scheme, ‘defeasible title’ to his victims’ cash,” it continues.

The dispute traces to a cross-chain bridge exploit last month that drained roughly $230 million from Aave, the largest decentralized lending protocol by total value locked.

An attacker, widely attributed to North Korea’s Lazarus Group by forensics firms including Chainalysis and TRM Labs, minted unbacked rsETH tokens, used them as collateral on Aave’s lending markets, and borrowed real ether against the worthless deposits.

Developers tied to the Arbitrum blockchain later intercepted about $71 million before it could be cashed out.

The filing also escalates the dispute beyond New York property law, invoking the Terrorism Risk Insurance Act (TRIA), a post-9/11 federal law that allows people who win court judgments against state sponsors of terrorism to collect those judgments from any U.S.-held property belonging to the country in question.

If the court accepts that theory, Aave’s earlier arguments about New York property law may matter less.

The filing also asks whether Aave has legal standing to challenge the freeze at all, citing the company’s own terms of service, which state that it does not have “possession, custody or control” over user assets, a core aspect of decentralized finance.

Lawyers also pointed out in the filing that the affected users may not need the frozen ether at all. DeFi United, an industry-led recovery fund Aave itself is part of, has raised $327.95 million as of Tuesday morning — more than four times the disputed $71 million.

A hearing is scheduled for Wednesday, May 6, in a Manhattan federal court.