# Finance Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Finance", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Popular Interaction Collection | Interstate Launches Points Event; Flip Early Waitlist Application (June 12)

**Interstate Launches Points Event, Flip Opens Early Waitlist Applications** *Originally published by Odaily Planet Daily, author Asher.* **Interstate**, an infrastructure platform integrating on-chain transactions for assets like Meme tokens, prediction markets, and xStocks, has launched a points event. Each trade on the platform now rewards users with points. The project has completed a $1.5 million seed round from investors including MH Ventures, Alchemy Ventures, and Marshland Capital. Users can visit the official website to connect their wallets and start earning points through trading tasks (note: the site may experience high traffic). **Flip**, an AI-powered financial assistant, has opened applications for its early waitlist. The platform allows users to manage finances via chat, helping with spending tracking, bill management, investment portfolio monitoring (including stocks and crypto), and more. Flip recently raised $1.4 million in a pre-seed round led by The House Fund and participated in a16z's Speedrun accelerator. Interested users can join the waitlist via the official website. **ArcNova**, an AI-native infrastructure platform for short-form video and entertainment, continues to offer tasks for earning points. Users can sign in daily, complete social and app tasks, and refer friends to accumulate points. The project announced a $15 million funding round in May, backed by Adaverse Ventures, Animoca Brands, and others. The task portal is accessible through the ArcNova website. These updates highlight ongoing opportunities for user engagement and potential rewards across emerging crypto and AI projects.

Odaily星球日报06/12 08:49

Popular Interaction Collection | Interstate Launches Points Event; Flip Early Waitlist Application (June 12)

Odaily星球日报06/12 08:49

Not All Chains Can Support Institutions, Why Canton Can

Canton aims to be the coordination layer for institutional financial workflows, enabling firms to run their own applications and ledgers while connecting to a common, synchronized infrastructure for transactions, collateral management, and settlements. Unlike many public blockchains, it focuses on privacy with selective data disclosure, uses the Daml smart contract language for embedded permissions and business rules, and offers features like asset locking (committed settlement) and atomic settlement (DvP). Its recent $355M funding round, led by a16z crypto, included strategic investors from traditional and crypto finance like Goldman Sachs, Citadel Securities, and BNP Paribas—many taking equity, not tokens. The network, with hundreds of partners and handling trillions in assets, uses its Canton Coin (CC) for network fees and incentives. While primarily improving efficiency within institutional workflows, its growth may indirectly expand the pool of on-chain assets and mature infrastructure, potentially benefiting broader decentralized finance over time.

Foresight News06/12 08:38

Not All Chains Can Support Institutions, Why Canton Can

Foresight News06/12 08:38

The Largest IPO in History Ignites Heated Debate: Is SpaceX Worth $1.77 Trillion?

SpaceX's potential IPO is priced at $135 per share, aiming to raise $75 billion and valuing the company at approximately $1.77 trillion, which would make it the largest IPO in history. This valuation has sparked intense debate among investors. Bullish analysts, including major underwriters Goldman Sachs and Morgan Stanley, argue the valuation is justified by SpaceX's long-term potential. They see it not just as a rocket company but as a future leader in space infrastructure, with key growth drivers being Starlink satellite internet, low-cost rocket launches, and future AI-related ventures. They project revenues reaching hundreds of billions to trillions of dollars by 2030-2040. ARK Invest's model suggests a 2030 enterprise value could reach $2.5 trillion. Bearish analysts from independent research firms like Morningstar, PitchBook, and New Constructs contend the IPO price is excessively high, already pricing in unrealistic future growth. Using DCF and sum-of-the-parts models, they estimate fair value between $780 billion and $1.7 trillion, significantly below the IPO target. They highlight risks such as the speculative nature of AI projections, over-dependence on Elon Musk, high growth expectations, and corporate governance concerns. Trefis set a target price of just $79 per share. While both sides acknowledge SpaceX's unique position in commercial space, the core disagreement centers on whether the $135 share price offers a reasonable margin of safety or is overly optimistic. Despite the valuation controversy, reported strong demand for the IPO indicates significant market interest.

marsbit06/11 12:07

The Largest IPO in History Ignites Heated Debate: Is SpaceX Worth $1.77 Trillion?

marsbit06/11 12:07

Trump’s Crypto Deals May Have Increased The Family Fortune By $2 Billion—At Investors’ Expense

A Reuters investigation alleges the Trump family generated approximately $2.3 billion from four main crypto ventures, while investors in those projects incurred roughly equivalent losses. The primary source was World Liberty Financial token sales, estimated to have yielded over $1.4 billion for the family. Significant gains also came from sales of the TRUMP memecoin, calculated at over $1.2 billion, and from related corporate partnerships. Investors, however, faced substantial losses. Early World Liberty token buyers faced restrictions on selling most holdings, and post-listing price declines contributed to estimated investor losses of $674 million. TRUMP coin buyers, who spent at least $1.2 billion, saw the value plummet, implying over $700 million in losses. Additionally, sharp share price drops for associated public companies ALT5 Sigma and American Bitcoin left investors down about $875 million combined.

bitcoinist06/10 11:10

Trump’s Crypto Deals May Have Increased The Family Fortune By $2 Billion—At Investors’ Expense

bitcoinist06/10 11:10

Reuters Investigation: Trump Family's Crypto Empire Cashed Out $2.3 Billion, Investors Incurred Nearly Equal Losses

Reuters Investigation: Trump Family's Crypto Empire Reportedly Cashed Out $2.3 Billion. A Reuters investigation reveals that from November 2024 to April 2026, entities linked to former US President Donald Trump earned approximately $2.3 billion in pretax revenue from four cryptocurrency projects. These projects are World Liberty Financial, the TRUMP meme coin, ALT5 Sigma (renamed AI Financial Corp.), and American Bitcoin. The revenue, derived largely from token sale royalties, founder allocations, and equity stakes, reportedly eclipsed the $2.1 billion profit posted by Coinbase during the same period. It also far exceeded earnings from major industry players like BlackRock's Bitcoin ETF business and top miner IREN. The report highlights an asymmetrical risk model where the Trump family allegedly invested minimal personal capital. However, over one million retail and public market investors are estimated to have absorbed nearly equivalent losses of about $2.25 billion. For instance, the TRUMP meme coin has lost around 98% of its value from its peak, and public companies like ALT5 Sigma and American Bitcoin have seen their stock prices collapse after raising funds linked to these ventures. The core leverage for these projects is identified as brand licensing and political influence rather than traditional business infrastructure.

marsbit06/10 01:54

Reuters Investigation: Trump Family's Crypto Empire Cashed Out $2.3 Billion, Investors Incurred Nearly Equal Losses

marsbit06/10 01:54

Solana’s Network User Base Expands With Rapid Rise in Returning Participants

Despite a prolonged price decline that tested the $60 level, the Solana network shows no signs of slowing down. Recent data reveals significant growth in its user base, driven by a rapid increase in returning participants. Over 1.7 million users are returning to the network daily, reaching the highest level since February, which is seen as a key indicator of long-term health and user confidence. Furthermore, Solana is outperforming Ethereum in key metrics. Over the past week, Solana processed nearly double the perpetual futures volume and more than double the DEX aggregator volume compared to Ethereum. This growing disparity leads some analysts to believe Solana could lead the next wave in finance. Currently, SOL is trading around $65, showing a slight price increase.

bitcoinist06/08 22:31

Solana’s Network User Base Expands With Rapid Rise in Returning Participants

bitcoinist06/08 22:31

The Next Bitcoin ETF Boom May Be Coming From Japan – Here’s Why

Despite recent outflows from US Spot Bitcoin ETFs, market attention is shifting to Japan as the potential next major market for such funds. This follows regulatory reforms in Japan that are moving cryptocurrency oversight to a financial instruments framework, potentially enabling Bitcoin ETF approval. Analysis suggests a Japanese spot Bitcoin ETF could attract significant inflows, ranging from ¥900 billion ($5.61 billion) in a conservative scenario to ¥3.1 trillion ($19.34 billion) in a bullish one. A base-case estimate of ¥1.4 trillion ($8.73 billion) would equate to demand for roughly 140,000 BTC. Beyond price impact, a Japanese ETF is seen as boosting Bitcoin's legitimacy and accessibility for investors and institutions. Bitcoin's price was around $61,038 at the time of writing, down 2.81% over 24 hours.

bitcoinist06/07 12:24

The Next Bitcoin ETF Boom May Be Coming From Japan – Here’s Why

bitcoinist06/07 12:24

Uncovering the Truth About Agent Commerce, Payments, and Infrastructure

Decoding Agent Commerce, Payments, and Infrastructure: The Reality Over the past year, I've been building infrastructure for the Agent economy, engaging with major players like Stripe, Visa, Coinbase, Google, and dozens of startups. A clear conclusion emerges: true, large-scale demand does not yet exist. Startups face structural challenges. Data points illustrate this gap. Stripe's Agent commerce platform has over 1,000 merchants but only single-digit transacting agents. Visa's Agent payment token requires 9-month KYC and a $250M revenue threshold, accessible only to giants like Amazon. On-chain analysis reveals actual daily Agent transaction volume is around $17k, half of which are test transactions. The article analyzes four potential markets: **1. Agent-to-Merchant (A2M):** Current AI shopping UX is often inferior to traditional e-commerce for visual, comparison-heavy purchases (clothing, electronics). Chat interfaces are a step back. Real merchant interest is defensive "Agent Engine Optimization," fearing future obsolescence, not current demand. Potential exists in high-frequency, low-decision purchases (e.g., food delivery) or simplifying terrible UX (complex checkouts, non-native shoppers), but these require massive consumer distribution channels dominated by giants like DoorDash and Amazon. **2. Agent-to-API (A2A):** Developers already have subscriptions and billing for core APIs (compute, data). The argument for micro-payments via crypto for sub-dollar API calls is addressed by pre-paid balances today. The deeper issue is supplier resistance; major SaaS firms rely on enterprise contracts, not fractional cent pricing. Opportunity lies in the long tail of niche services, but this is a smaller market catering to developers, a historically low-paying group. **3. Agent-to-Agent (A2A):** This remains a theoretical long-term vision with near-zero current transaction volume. It involves unique challenges: discovery, trust, negotiation, dispute resolution. When it materializes, it will require a fundamentally new settlement infrastructure for high-speed, variable-value, multi-party transactions. It's a real long-term bet, but not the current market. **4. Agent-to-Finance (A2F):** This is the only category with existing, paying demand. Integrating AI into financial workflows (trading, portfolio management) is a natural evolution and enables new capabilities like autonomous rebalancing. However, competition favors incumbents with regulatory licenses, compliance infrastructure, and existing client relationships. **The Real Issue:** Why is infrastructure still being built? Incumbents can afford long-term bets, and payment companies see every problem as a nail for their payment hammer. However, payment is just one piece. The core challenge is *coordination*—orchestrating work between Agents and humans, verifying outcomes, and settling results. Payment is part of settlement, which is part of coordination. Companies that solve the coordination problem will subsume payments, not the other way around. Startups lack the infinite runway of giants and must find today's real market, which, after a year of exploration, lies outside these four categories—in an area with real, growing, and underserved activity.

marsbit06/07 06:08

Uncovering the Truth About Agent Commerce, Payments, and Infrastructure

marsbit06/07 06:08

It Took Me a Year to See the Bitter Truth About Agent Payments

After a year building infrastructure for the Agent economy, engaging with major players like Stripe, Visa, and Coinbase, the author shares a sobering analysis of the current state of Agent payments. The core finding is a stark lack of genuine, immediate demand across most envisioned use cases. The article breaks down four key market segments: 1. **Agent-to-Merchant (Consumer Shopping):** For most product categories (e.g., clothing, electronics), conversational AI shopping is a step backwards from visual e-commerce interfaces. While agents excel at understanding needs, they can't replace side-by-side product comparison. Real merchant interest is defensive "Agent Engine Optimization," not driven by current customer demand. Potential exists for high-frequency, low-decision purchases (like food delivery) or navigating complex store UIs, but these require massive B2C distribution channels dominated by giants like Amazon. 2. **Agent-to-API (Developer Services):** Developers already have subscriptions and billing relationships for APIs (compute, data). Prepaid balances solve micro-payment issues for low transaction volumes. A deeper structural problem is that major SaaS vendors' business models rely on enterprise contracts, resisting granular pay-per-call pricing. While protocols like MPP and x402 serve the long tail of niche services, this market is small and developers are historically low-willingness-to-pay. 3. **Agent-to-Agent:** This remains largely theoretical with minimal transaction volume. While it represents a long-term bet on a fundamentally new transaction infrastructure (sub-second, micro-penny to million-dollar, multi-party settlements), it does not constitute a present market. 4. **Agent-to-Finance:** This is the only category with existing, paying demand. Integrating AI into financial workflows (trading, portfolio management) is a natural evolution and enables new capabilities like autonomous rebalancing. However, competition favors established, regulated institutions. The "real problem" is not moving money between agents, but the broader challenge of **coordination**—orchestrating work between agents and humans, verifying outcomes, and settling results. Payment is just one component of settlement, which is itself part of coordination. Companies that solve the coordination layer will subsume payment, not the other way around. While well-funded incumbents build defensively for a long-term future, startups must find where the market is today—which, for the author's team, lies outside these four categories in an area of real, growing, and underserved activity.

marsbit06/06 10:19

It Took Me a Year to See the Bitter Truth About Agent Payments

marsbit06/06 10:19

It Took Me a Year to See the Hard Truth About Agent Payments

**Title: It Took Me a Year to See the Hard Truth About Agent Payments** Over the past year, I've worked on infrastructure for the Agent economy, engaging with major players like Stripe, Visa, Coinbase, and numerous startups. The findings reveal a stark reality: genuine, widespread demand for Agent-based payments does not yet exist. **Key Observations:** * **Agent-to-Merchant (Shopping):** The user experience for AI shopping often falls short, especially for visual product discovery. While AI excels at understanding needs, conversational interfaces can't yet replace browsing and comparing multiple products visually. Current merchant interest is largely defensive ("Agent Engine Optimization") for a future that hasn't arrived. High-frequency, low-friction purchases (like food delivery) are potential fits, but lack open APIs and face high AI inference costs. Simpler, more affordable, or cross-language interactions for complex UIs are a niche opportunity but require massive consumer distribution to scale. * **Agent-to-API (Developer Tools):** Developer payment needs for APIs (computing, data, models) are already met through subscriptions and prepaid credits. The core challenge is not payment friction but supplier economics: most large SaaS providers prefer enterprise contracts over micropayments for API calls. Protocols like MPP and x402 suit the long-tail of smaller services but cater to a developer market historically reluctant to pay for these tools. Major infrastructure needs at the top of the stack are already being addressed. * **Agent-to-Agent (Machine Commerce):** This is a long-term vision with almost no current transaction volume. While a future with high-speed, high-frequency, multi-party machine-to-machine transactions would require novel infrastructure, it remains theoretical. The market is not here yet. * **Agent-to-Finance:** This is the only category with clear, present demand. Financial professionals and DeFi users already pay for tools, and AI augmentation is a natural evolution. Autonomous AI agents can enable entirely new financial strategies. However, competition is fierce from established, regulated incumbents who can more easily layer AI onto their existing products. **The Core Insight:** Companies, especially giants with long time horizons, are building defensively for a potential future of mass machine commerce. For them, early investment is a low-cost hedge. For startups, the current market reality is different. The primary challenge isn't just moving money between agents (payments). The larger, unsolved problem is **orchestration** – coordinating work between agents and humans, verifying outcomes, and then settling. Payment is just a part of settlement, which is just a part of orchestration. Companies that solve the orchestration problem will subsume payments, not the other way around. After a year of building, we see the real, growing, and underserved market opportunity lies in this broader domain of orchestration.

链捕手06/06 09:55

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