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Who is going to use crypto-powered AI agents?

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There’s something happening here, what it is ain’t exactly clear. With apologies to Buffalo Springfield (and later Public Enemy), those lines neatly sum up the latest crypto trend: companies building tools to power stablecoin-wielding AI agents. It’s a lot to get your head around, but the basic idea is this: In the future, we will all be deploying AI agents that don’t just communicate, but engage in online commerce on our behalf—buying our concert tickets, say, or locking up a hotel reservation.

I first encountered this idea last year when Coinbase CEO Brian Armstrong told me that soon our AI agents will be carrying little purses filled with crypto—an odd but vivid image that has stuck with me. Since then, companies have been galloping to make this happen. 

The latest example is Cloudflare, which manages a hefty portion of the web’s traffic, and this week announced “a U.S. dollar-backed stablecoin, the NET Dollar, to help propel the future of AI-driven finance on the internet.” This comes after Google released a new AI payments protocol with partners like Coinbase and Amex that will include support for stablecoins. And then there are startups like Circuit & Chisel, founded by Stripe vets, and PayPal-backed Kite, which are also designing protocols for agentic payments.

As I said, there’s something happening here. The issue, though, is what exactly these companies are building, and who—if anyone—will end up using it. Yes, it’s early days and protocols have to come before applications, but it would still be helpful to see examples of ordinary consumers deploying these cash-carrying bots for everyday activities.

The easy scenario to envision is consumers giving their agents bags of stablecoins, and sending them off to negotiate and buy a pair of sneakers or something. But would this be something most of us would need? Or would it, like so much in crypto, just be an element of blockchain friction layered on something that works pretty well already? 

To be fair, companies are already teasing some more tantalizing possibilities. Those include the idea of using AI agents to carry out micropayments such as purchasing a news article behind a paywall or buying a snippet of data from LinkedIn. Likewise, the parents among us would relish the idea of an agent we can trust with personal data that could sign up our children and pay for sports teams and summer camps.

We discussed all this at Fortune Crypto and concluded that this fusing of stablecoins and AI agents is the future, but that it’s too early to say what shape that future will take. It’s like trying to predict in 2008 what applications would come to populate the iPhone’s App Store, or the parable of the blind scientists and the elephant—each touching a leg or a trunk, but unable to understand how it all fits together. It may take five years or more until we know.

And speaking of stablecoins, make sure to check out the latest edition of Crypto Playbook where Leo talks with business professor and crypto OG Austin Campbell on where it’s all going. Thanks for reading and, as always, we’d love to hear your thoughts. 

Jeff John Roberts
jeff.roberts@fortune.com
@jeffjohnroberts

DECENTRALIZED NEWS

Wen Kraken IPO? Crypto companies of all sorts are going public, including some obvious D-listers. But what about Kraken, one of the industry’s most respected brands? A new profile reveals the company has just raised $500 million en route to its 2026 IPO. (Fortune

Leverage for all. The crypto scene is getting more speculative than ever before thanks to the arrival of perpetual futures, or “perps,” on U.S. shores that let anyone make levered, rolling bets of up to 100x. (WSJ)

“Reversible” transactions. Circle is exploring a system to reverse transactions, potentially using its Arc blockchain. The idea for the concept, which has long been heresy in crypto circles, is make the crypto experience more akin to traditional banking. (FT)

Insider trading is (still) illegal. In August, Fortune reported on suspicious share price pops at firms right before they announced crypto treasury buys. The SEC and FINRA are investigating the phenomenon. (WSJ)

Everyone got rekt this week to the tune of $300 billion—that’s how much markets shed amid a brutal sell-off that tanked Bitcoin around 5% and sent Ethereum below $4,000. (Bloomberg)

MAIN CHARACTER OF THE WEEK

The main character this week is Tether’s photo-shy chairman Giancarlo Devasini who, per Bloomberg, is poised to have a net worth of $224 billion thanks to an impending deal to sell 3% of the company for $15 billion to $20 billion. That would be good enough to make Devasini the fifth richest person in the world, ahead of Binance’s CZ, and behind some guys named Musk and Zuckerberg.

MEME O’ THE MOMENT

Insider trading isn’t illegal if you didn’t know it was insider trading!

@GwartyGwart

This tongue-in-cheek meme of crypto people having no idea something is illegal comes as the SEC investigates insider trading at DATs—a reminder that, even in the Trump era of regulation, there may still be such a thing as white-collar crime.



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European leaders’ text messages to Trump reveal a very different tone than their Greenland saber-rattling

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While Europe is pushing back publicly against U.S. President Donald Trump over Greenland, the language appears softer behind the scenes.

Trump published a text message on Tuesday that he received from French President Emmanuel Macron, confirmed as genuine by Macron’s office.

Starting with “My friend,” Macron’s tone was more deferential than the criticism that France and some of its European partner nations are openly voicing against Trump’s push to wrest Greenland from NATO ally Denmark.

Before broaching the Greenland dispute, Macron opted in his message to first talk about other issues where he and Trump seem roughly on the same page.

“We are totally in line on Syria. We can do great things on Iran,” the French leader wrote in English.

Then, he added: “I do not understand what you are doing on Greenland,” immediately followed by: “Let us try to build great things.”

That was the only mention that Macron made of the semi-autonomous Danish territory in the two sections of message that Trump published. It wasn’t immediately clear from Trump’s post when he received the message.

Trump breaks with tradition

World leaders’ private messages to each other rarely make it verbatim into the public domain — enabling them to project one face publicly and another to each other.

But Trump — as is his wont across multiple domains — is casting traditions and diplomatic niceties to the wind and, in the process, lifting back the curtain on goings-on that usually aren’t seen.

This week, a text message that Trump sent to Norway’s prime minister also became public, released by the Norwegian government and confirmed by the White House.

In it, Trump linked his aggressive stance on Greenland to last year’s decision not to award him the Nobel Peace Prize.

“Considering your Country decided not to give me the Nobel Peace Prize for having stopped 8 Wars PLUS, I no longer feel an obligation to think purely of Peace,” the message read.

It concluded, “The World is not secure unless we have Complete and Total Control of Greenland.”

On Tuesday, Trump also published a flattering message from Mark Rutte, secretary general of NATO, which the alliance also confirmed as authentic.

“I am committed to finding a way forward on Greenland,” Rutte wrote. “Can’t wait to see you. Yours, Mark.”

Rutte has declined to speak publicly about Greenland despite growing concern about Trump’s threats to “acquire” the island and what that would mean for the territorial integrity of NATO ally Denmark. Pressed last week about Trump’s designs on Greenland and warnings from Denmark that any U.S. military action might mean the end of NATO, Rutte said: “I can never comment on that. That’s impossible in public.”

Macron’s relationship with Trump

Macron likes to say that he can get Trump on the phone any time he wants. He proved it last September by making a show of calling up the president from a street in New York, to tell Trump that police officers were blocking him to let a VIP motorcade pass.

Guess what? I’m waiting in the street because everything is frozen for you!” Macron said as cameras filmed the scene.

It’s a safe bet that Macron must know by now — a year into Trump’s second spell in office — that there’s always a risk that a private message to Trump could be made public.

Macron said Tuesday that he had “no particular reaction” to the message’s publication when a journalist asked him about it.

“I take responsibility for everything that I do. It’s my habit to be coherent between what I say on the outside and what I do in a private manner. That’s all.”

Still, the difference between Macron’s public and private personas was striking.

Hosting Russia and Ukraine together

Most remarkably, the French leader told Trump in his message that he would be willing to invite representatives from both Ukraine and Russia to a meeting later this week in Paris — an idea that Macron has not voiced publicly.

The Russians could be hosted “in the margins,” Macron suggested, hinting at the potential awkwardness of inviting Moscow representatives while France is also backing Ukraine with military and other support against Russian President Vladimir Putin’s invasion.

Macron wrote that the meeting could also include “the danish, the syrians” and the G7 nations — which include the United States.

The French president added: “let us have a dinner together in Paris together on thursday before you go back to the us.”

He then signed off simply with “Emmanuel.”

Making nice only goes so far

Despite Macron’s persistent efforts, in both of Trump’s terms, not to ruffle his feathers, any payback has been mixed, at best.

Trump bristled on Monday, threatening punitive tariffs, when told that Macron has no plans to join Trump’s new Board of Peace that will supervise the next phase of the Gaza peace plan, despite receiving an invitation.

“Well, nobody wants him because he’s going to be out of office very soon,” Trump told reporters, even through the French leader has more than a year left in office before the end of his second and last term in 2027.

“I’ll put a 200% tariff on his wines and champagnes and he’ll join,” Trump said.

___

Lorne Cook in Brussels, Sylvie Corbet in Paris and Kostya Manenkov in Davos contributed.



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Billionaire Marc Andreessen spends 3 hours a day listening to podcasts and audiobooks—that’s nearly an entire 24-hour day each week

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If you want to think like a billionaire, you might want to stop scrolling on TikTok and pick up a book. For venture capitalist Marc Andreessen, it’s not just a habit—it’s how he makes sense of the world and continually reshapes his thinking about business.

“I’ve always been like this, I’m reading basically every spare minute that I have,” Andreessen told the How I Write podcast in 2023.

The billionaire previously carved out two hours of reading time on most weekdays, according to a detailed version of his weekly schedule he published in 2020. However, with the business world only becoming more pressurized, he’s ramped up his knowledge intake—something made possible from “the single biggest technological leap” in his life: AirPods. 

Andreessen now spends two to three hours a day glued to audiobooks—typically alternating between histories, biographies, and material in new subject areas like artificial intelligence. Collectively, his practice amounts to nearly an entire 24-hour day dedicated to learning, each week.

Research suggests that listeners retain roughly the same amount of information from audiobooks as they do from reading text, making Andreessen’s shift in format less a compromise than an optimization.

“If nothing else is going on,” Andreessen added. “I’m always listening to something.”

Andreessen didn’t respond to Fortune’s request for further comment.

Mark Cuban and Bill Gates agree: reading will drive you to success

Andreessen’s approach is far from unusual among the ultra-wealthy. Reading ranks as the most commonly cited behavior tied to long-term success, according to a JPMorgan report that surveyed more than 100 billionaires with a combined net worth exceeding $500 billion.

Bill Gates, for example, has long championed reading—often finishing 50 books a year and releasing annual lists to encourage others to do the same.

“Reading fuels a sense of curiosity about the world, which I think helped drive me forward in my career and in the work that I do now with my foundation,” he told TIME in 2017.

Former Shark Tank star Mark Cuban has similarly cited reading as a critical habit that helped set him apart—and put him on the billionaire path.

 “I read more than three hours almost every day,” Cuban wrote on his blog in 2011.

“Everything I read was public,” the now 67-year-old added. “Anyone could buy the same books and magazines. The same information was available to anyone who wanted it. Turns out most people didn’t want it.”

Reading, as a whole, remains a cornerstone of nuanced thinking and communication—skills that are increasingly critical for business leaders, according to Brooke Vuckovic, a professor at Northwestern’s Kellogg School of Management.

“Reading long-form fiction, biography, and history demands focused attention, tolerance with ambiguity and unanswered questions or unrevealed nuance in characters and situations, and a willingness to have our preconceptions upended,” Vuckovic previously told Fortune. “All of these qualities are requirements of strong leadership [and] they are in increasingly short supply.”



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Mass texts and EZ-Pass phishing: $17 billion stolen in crypto scams, largely by the Chinese

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EZ-Pass final reminder: you have an outstanding toll. Such texts have become all too familiar to many Americans, and it is a Chinese-backed criminal network that is largely behind them. These scammers are using crypto to steal a record $17 billion from regular people, according to Chainalysis’s recent report

The severity of this fraud has reached the attention of the U.S. government. On Wednesday, Jacqueline Burns Koven, the head of cyber threat intelligence at Chainalysis, spoke in front of the Senate about the increase of this criminal activity, and how the U.S. can combat it. Her testimony was titled, ‘Made in China, Paid by Seniors: Stopping the Surge of International Scams.’

“Scams that leverage cryptocurrency are having a record year in terms of proceeds,” Burns Koven said, in an interview with Fortune. “The Chinese scam conglomerates are the market leaders in criminal fintech. They’ve been doing this for a long time.” 

The estimated $17 billion received in crypto scams is up from about 30% from last year, according to the report. These operations have become increasingly sophisticated and include the use of AI-generated deepfakes. Crypto is an essential part of the operation because the criminals frequently use digital currencies to finance their scamming operations, such as purchasing tools like SMS phishing kits. 

Nefarious actors have leaned heavily on impersonation techniques, where they pose as legitimate organizations to coerce victims into paying digitally. The most well-known example of this is the EZ-Pass phishing campaign, which targeted millions of Americans. The operation was traced back to a Chinese-speaking criminal group called “Darcula”, which also has a history of impersonating the USPS. 

While 2025 also saw a record number of crypto seizures by law enforcement, Burns Koven says that government and industry responses are still fragmented and reactive. Just as criminals are using advanced technology for scams, both the public and private sector could use AI to block these messages from appearing on people’s phones. Also, with criminals using crypto to facilitate these scams and because these transactions are public on the blockchain, this makes it easier to identify criminal networks and disrupt activity.  

“Scammers are taking advantage of the disjointed and reactive responses from both the public and private sector,” she said. “We need to use advanced technologies like AI enabled fraud prevention, to prevent a human being from ever being in contact with that scam in the first place.”

Fraud usually never sleeps, but these Chinese criminal networks actually do take breaks. Chainalysis and other researchers found a dip in criminal activity during the Chinese New Year and other of the country’s public holidays. 



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