# Bài viết Liên quan AI Agents

Trung tâm Tin tức HTX cung cấp những bài viết mới nhất và phân tích chuyên sâu về "AI Agents", bao gồm xu hướng thị trường, cập nhật dự án, phát triển công nghệ và chính sách quản lý trong ngành tiền kỹ thuật số.

Coinbase's Service Development Failed to Compensate for Market Downturn in the Second Quarter

Coinbase reported Q2 revenue of $1.2 billion, missing analyst estimates of $1.3 billion, with a loss of $1.36 per share. The company's stock fell over 7% after-hours. This marks the third consecutive quarter of missing both sales and earnings forecasts. Revenue declined from $1.5 billion a year ago, while the company swung from a $1.43 billion profit to a $359.5 million loss. Transaction revenue fell to $599 million, while subscription and service revenue was $555 million. Leadership emphasized its strategy to reduce reliance on volatile trading fees, highlighting growth in subscription services like Coinbase One, which reached a record number of paid subscribers. Stablecoin revenue, primarily from USDC, was $292 million, below expectations. CEO Brian Armstrong stated Coinbase is no longer betting solely on Bitcoin's price, positioning the company as infrastructure for the broader crypto-financial ecosystem, including AI agents. He and CFO Alesia Haas detailed plans to support AI agents on platforms like Base and expand USDC's utility, including through partnerships like the one with Hyperliquid to increase liquidity. They reiterated the "Everything Exchange" strategy of offering diverse products to capture shifting market trends and provide more predictable subscription-based revenue.

cryptonews.ru8 giờ trước

Coinbase's Service Development Failed to Compensate for Market Downturn in the Second Quarter

cryptonews.ru8 giờ trước

Selling Tokens or Selling Outcomes: Several Paradoxes of the AI Business Model

"The Token vs. Outcome Sale: Key Paradoxes in the AI Business Model By mid-2026, the AI industry shows rapid growth in revenue and token usage, yet the underlying business models differ significantly. This article analyzes four structural paradoxes defining the current landscape, all pointing to the commoditization of intelligence and the concentration of profits in few segments. **The Cost Paradox: Cheaper Tokens, Heavier Bills** Despite a >95% price drop for equivalent AI capability since 2023, total spending has skyrocketed due to the Jevons Paradox: lower prices expand usage into previously uneconomical tasks. Furthermore, the shift to autonomous agents operating 24/7 multiplies consumption. However, efficiency gains often remain unrealized due to unchanged organizational workflows (the Solow Paradox). The focus is shifting from optimizing token price to optimizing the task itself. **The Hierarchy Paradox: The App is King vs. The App is Dead** While conventional wisdom holds that value accrues at the application layer, the AI stack is inverted. Infrastructure (chips) captures ~70% of industry revenue and ~80% of gross profit, while application-layer margins are thin (0-30%). Fast-evolving base models threaten "thin" apps. Sustainable applications are those that embed intelligence into specific contexts, possessing private data, workflows, or delivery capabilities that become more valuable as the base model improves. **The Responsibility Paradox: Profit Follows Accountability** Growth rates alone don't guarantee profit. A key differentiator is a company's willingness and ability to take responsibility for specific outcomes. Selling by the token competes for IT budgets; selling by the outcome (e.g., a resolved support ticket) taps into larger human labor budgets. Low-responsibility, high-volume tasks (e.g., generic客服) face commoditization. High-stakes, regulated domains (e.g., law, healthcare) where vendors assume heavier liability for results command higher margins, as seen with companies like Harvey in legal tech. **The Open-Source Paradox: Open Wins Traffic, Closed Wins Revenue** Open-source models dominate in usage share and developer adoption, often being 5-20x cheaper. However, closed-source models still capture the majority of enterprise spending (~89%). Enterprises pay a premium for closed-source reliability, support, compliance, and accountability. The total cost of ownership (TCO) is converging as closed-source prices fall faster than open-source builds trust, leading to hybrid deployments. Profit is migrating from the model layer itself to upstream (compute) and downstream (orchestration, data, services)."

marsbit07/28 10:41

Selling Tokens or Selling Outcomes: Several Paradoxes of the AI Business Model

marsbit07/28 10:41

The Eternal Fragments of Money: Third-Party Payment Has No First Principle

"The Enduring Fragments of Money: Third-Party Payments Lack a First Principle" Stripe is reportedly attempting to acquire PayPal, marking a significant shift reminiscent of PayPal's merger with the original X.com 30 years ago. The article analyzes Stripe's strategic challenges and the broader payments industry landscape. Despite its initial success with a developer-friendly API model, Stripe missed its optimal IPO window during the pandemic and has since seen its valuation decline. Its attempts to expand through acquisitions and new ventures, particularly in stablecoins (like its OUSD project) and Agent-focused payments (ACP/MPP protocols), have faced headwinds. The author argues that the payment industry remains highly fragmented and is ultimately an adjunct to the traditional banking system. This structure limits the potential for any single player, including Stripe, to achieve complete dominance. While stablecoins and the future rise of autonomous Agent economies present potential growth avenues, they are not yet mainstream and still require integration with the existing financial system. For now, Agent-based transactions are largely used for speculative "volume boosting" rather than substantive business applications. Stripe's current move to acquire PayPal is seen as an attempt to bolster its weak consumer-facing (C-side) business after its stablecoin-focused strategies faltered. Meanwhile, PayPal is described as structurally outdated, unable to revive itself through new products like Venmo or PYUSD. The future of payments may lie not in payments themselves but in value-added services like more efficient settlement networks. The author suggests that companies like Stripe and Circle, which are building their own blockchains (Tempo, Arc) and stablecoins, are positioning themselves to eventually profit from high-efficiency settlement systems. These new networks could potentially bypass some traditional banking layers. In conclusion, the article posits that third-party payment is a perpetually fragmented battlefield where scale alone cannot ensure victory. Players must find new models, focusing on efficiency to compete with the entrenched banking system. Stripe's acquisition of PayPal represents a bet on this uncertain future.

链捕手07/21 15:30

The Eternal Fragments of Money: Third-Party Payment Has No First Principle

链捕手07/21 15:30

Claude Code's Father's Night Shift AI Army, Fable 5 Built with Two Commands

For the past year, Boris Cherny, creator of Claude Code, hasn't written a single line of code himself. He manages hundreds, even thousands, of AI agents that run day and night, autonomously handling tasks from writing and submitting code to fixing CI tests and gathering user feedback. His secret lies in a "loop" system, where tasks are defined and set to run repeatedly, combined with a critical "/goal" command that provides a clear, verifiable objective and a "supervisor" model to check progress. This approach transforms the programmer's role from a coder to a system designer and reviewer. At Anthropic, AI agents even collaborate in Slack channels to divide work. The recently released Fable 5 model is built for such long-term autonomous operation, featuring self-verification and the ability to understand complex charts. Effective use requires the "/goal" command for targeted tasks and "/loop" for recurring ones. To maximize efficiency, a local context system can be set up in 20 minutes, providing the AI with persistent memory of your projects, preferences, and procedures. The key takeaway is that the future lies not in prompting AI for each step, but in building autonomous systems driven by clear, verifiable goals.

marsbit07/20 00:23

Claude Code's Father's Night Shift AI Army, Fable 5 Built with Two Commands

marsbit07/20 00:23

Base Founder Jesse Rarely Admits Strategic Mistake, Social Dream Shattered

Base founder Jesse Pollak publicly acknowledged a strategic misjudgment, stepping back from leading the Base App to focus entirely on the Base blockchain with the goal of building a "global financial blockchain." He admitted that while Base's bet on builders was correct, its parallel bet on social applications (like Farcaster, Zora, creator coins, and miniapps) as the driver for mainstream crypto adoption was wrong. Pollak stated that the entire social-focused market segment "completely collapsed," as users primarily come on-chain for trading, payments, yield, and speculation—not for social interactions themselves. The pivot comes amid rising competitive pressure, notably from the rapid growth of Robinhood Chain, which leverages Robinhood's user base and tokenized stock offerings. Base's new direction centers on three core pillars: winning in trading (including tokenized assets), enabling global stablecoin payments, and supporting AI agents as new economic participants. Pollak emphasized that Base's strengths lie in its Coinbase-backed compliance, developer ecosystem, and financial infrastructure, positioning it to compete as a leading settlement layer for the next generation of on-chain finance.

链捕手07/16 05:45

Base Founder Jesse Rarely Admits Strategic Mistake, Social Dream Shattered

链捕手07/16 05:45

Virtuals Protocol announces new tokenized index model – Details

Virtuals Protocol has launched a new customizable tokenized index model on the Robinhood Chain. This feature enables users to combine multiple assets into a single tokenized basket, allowing exposure to several tokens through one instrument. Users can create and manage their own asset baskets and earn protocol fees when others mint them. This development is part of the protocol's initiative to build a co-ownership layer for AI agents, following an ecosystem with over $77 million in agent trading volume and more than 2,100 agents launched. Meanwhile, the VIRTUAL token's price was at $0.61, recovering from a recent dip. Technical indicators like the RSI above 50 and a positive MACD suggest renewed buying interest without being overbought. However, futures market data presents a contrasting view: Open Interest remains relatively low at around $33.8 million, and the negative average funding rate indicates that short positions are still dominant, with bearish traders paying to maintain them. This division suggests that while spot traders are showing optimism, futures traders remain cautious. A continued price rise could force short positions to cover, potentially accelerating upward movement.

ambcrypto07/16 04:32

Virtuals Protocol announces new tokenized index model – Details

ambcrypto07/16 04:32

Understanding Circle Founder's "Agentic Economy" Paper to See How the Economic Landscape Will Be Restructured in the Next Decade

"Agentic Economy" by Circle founder Jeremy Allaire explores the convergence of AI and blockchain, arguing they form two sides of a single future economic system. AI agents will decompose corporate functions into automatable skills, while blockchain provides the trust, identity, and instant settlement layer for these agents to coordinate and transact. This "agentic economy" will be natively global, with on-chain companies managed by software. Key pillars include: fully-backed stablecoins for risk-free, high-speed settlement; new credit markets using on-chain data for machine underwriting; a shift from software subscriptions to pay-for-work consumption models; and professional agent marketplaces. The paper warns of major impacts: a potential decline in labor's share of income and risks of power concentrating at control points like identity layers or dominant currencies. The solution is not to defend old jobs but to design for broad ownership of capital (agents, models, infrastructure). Shared, on-chain ownership mechanisms can distribute prosperity, but this requires deliberate design and governance to prevent re-centralization. The outcome—either a highly concentrated or a more equitable economy—is a design and political choice, not a foregone conclusion.

marsbit07/15 02:13

Understanding Circle Founder's "Agentic Economy" Paper to See How the Economic Landscape Will Be Restructured in the Next Decade

marsbit07/15 02:13

Paradigm's New Playbook: Crypto in One Hand, AI and Robotics in the Other

Title: Paradigm's New Strategy: Crypto in One Hand, AI and Robotics in the Other On July 8, 2026, top-tier venture capital firm Paradigm announced the successful $12 billion close of its fourth fund, marking a strategic evolution beyond its pure-play crypto roots. While remaining committed to cryptocurrency, the firm is now formally extending its investment focus to include artificial intelligence, robotics, and other frontier technologies. This shift was foreshadowed by a subtle but significant change to its official social media description earlier in March, from "A research-driven crypto investment firm" to a broader "We build and invest in the companies and ideas shaping the frontier." The move is driven by the firm's recognition of transformative technological waves beyond crypto, particularly in AI and robotics, and a response to the shifting capital allocation landscape. Despite significant AI sector fundraising, Paradigm emphasizes its commitment remains grounded in deep technical rigor. A key intersection for Paradigm lies in AI Agents, where decentralized blockchain networks and stablecoins are seen as a natural financial infrastructure for autonomous digital operations. The firm is active in promoting open-source, decentralized AI (e.g., investing in Nous Research) and building agent-friendly blockchains (e.g., incubating Tempo). It is also developing tools like EVMbench (with OpenAI) and the Centaur AI Agent platform. Within its crypto stronghold, Paradigm will continue focusing on core infrastructure areas. These include derivatives and new liquidity layers (e.g., Hyperliquid), prediction markets (with plans for a proprietary trading terminal), and developer tools (continuing development of Reth and Foundry). In summary, Paradigm's expansion reflects a broader realignment in venture capital, where the intense capital concentration in AI and the search for exponential growth compel even crypto-native funds to broaden their narratives. However, this does not signify an abandonment of crypto; instead, the focus is sharpening on real-world financial applications like stablecoins, RWA, on-chain derivatives, prediction markets, and the convergence of Crypto and AI Agents.

Foresight News07/09 09:06

Paradigm's New Playbook: Crypto in One Hand, AI and Robotics in the Other

Foresight News07/09 09:06

Goldman Sachs Research Report Analysis: Circle and USDC Are Moving Beyond the Crypto World, Cross-Border Payments and AI Agents Become New Battlegrounds

Goldman Sachs published a summary of its meeting with Circle Internet Group (issuer of USDC) on July 5th. The core takeaway is that stablecoins, led by USDC, are evolving from a crypto-native tool into foundational infrastructure for traditional finance and the AI economy. USDC's use cases are rapidly expanding beyond crypto trading into cross-border payments, e-commerce, capital market settlements, and notably, payments for AI agents. Circle's management emphasized that stablecoin growth is now decoupled from crypto market cycles, driven by this diversification. They outlined five key application layers and highlighted USDC's network effects, global liquidity depth, and regulatory compliance as competitive moats. Circle distinguishes USDC from bank-issued tokenized deposits, arguing the former is an open, internet-native system without bank credit risk. Strategically, Circle is building a broader fintech platform with its Arc Layer 1 blockchain, the Circle Payments Network for cross-border transfers, and an "Agentic Stack" to serve AI agent economies, where USDC already dominates. Regarding regulation, Circle views potential U.S. legislation like the CLARITY Act as a catalyst for growth rather than a constraint, expecting it to encourage broader institutional adoption and active usage. Goldman Sachs maintains a Neutral rating on Circle with a $96 price target, noting the company's shift from a pure stablecoin issuer to a financial infrastructure provider. Key risks include competition from USDT and potential earnings pressure from declining interest rates on its reserve assets.

marsbit07/07 03:53

Goldman Sachs Research Report Analysis: Circle and USDC Are Moving Beyond the Crypto World, Cross-Border Payments and AI Agents Become New Battlegrounds

marsbit07/07 03:53

Airwallex Invests in Metal: How Stablecoins Reconnect with the Real Financial System?

Airwallex Invests in Metal: How Stablecoins Connect Back to the Real Financial System? Airwallex, a global financial platform for businesses, has completed a $3.2 billion Series H funding round at an $11 billion valuation. Concurrently, it co-led the seed round for Metal, a "tokenized financial products infrastructure" project, becoming its first design partner. This move signals Airwallex's strategic shift beyond traditional cross-border payments. It aims to leverage its decade of experience in licenses, local payment networks, and API infrastructure to address a new challenge: facilitating the entry of stablecoins, tokenized assets, and AI agents into enterprise financial systems. This involves handling critical functions like authorization, compliance, currency exchange, fiat on/off-ramps, and final settlement. Metal positions itself not merely as another stablecoin payment solution but as a compliant settlement layer (Layer 1 blockchain) designed for regulated financial institutions. It targets a broader scope of tokenized financial products, including stablecoins, tokenized deposits, and securities. The core challenge it addresses is connecting efficient on-chain assets with the complex realities of corporate finance, such as multi-currency bank accounts, securities, compliance checks, and local regulations. Airwallex's investment, alongside its founder-backed fund Capital49, provides Metal with crucial real-world infrastructure: access to local payment networks covering 200+ countries and 90+ currencies. This partnership aims to bridge the gap between on-chain efficiency and off-chain, institution-ready settlement. The announcement aligns with Airwallex's broader product direction, which includes an AI-native financial platform (T:0) and a wallet infrastructure for AI agent commerce (Airi). The combined vision is an integrated infrastructure that can handle the speed and cost benefits of on-chain assets while seamlessly managing compliance, authorization, and fiat connectivity required for global business operations and the emerging AI agent economy.

Foresight News07/03 08:32

Airwallex Invests in Metal: How Stablecoins Reconnect with the Real Financial System?