Morning Minute is a each day publication written by Tyler Warner. The evaluation and opinions expressed are his personal and don’t essentially replicate these of Decrypt. Subscribe to the Morning Minute on Substack.
GM!
At the moment’s high information:
Crypto majors rebound after robust jobs report; BTC +1% at $68,000
BlackRock lists its BUIDL Fund on Uniswap, buys UNI tokens
Coinbase launched agentic wallets, natively supporting x402
Analysts slash COIN targets forward of in the present day’s This fall earnings name
Lighter turns into first DEX to supply Korean equities, additionally debuts funding fee rebates
🤖 Coinbase Provides AI Brokers Their Personal Wallets
AI agent commerce (agentic commerce) is heating up onchain.
And Coinbase is leaning in.
📌 What Occurred
Coinbase launched Agentic Wallets on Tuesday, the primary pockets infrastructure constructed particularly for autonomous AI brokers.
The product lets any AI agent maintain funds, ship funds, commerce tokens, earn yield, and transact onchain with out human intervention.
Builders can spin up a completely purposeful agent pockets in underneath two minutes utilizing a command-line software (npx awal), with pre-built monetary “abilities” together with authenticate, fund, ship, commerce, and earn.
The wallets run on Coinbase’s Base L2 with gasless transactions, so brokers by no means stall out on community charges. They arrive with programmable spending limits (session caps, per-transaction ceilings) and personal keys keep locked in Coinbase’s safe enclaves, by no means uncovered to the agent or its underlying LLM. Constructed-in KYT (Know Your Transaction) screening robotically blocks high-risk interactions.
Critically, Agentic Wallets natively assist x402 – Coinbase’s open cost protocol that embeds stablecoin funds instantly into HTTP requests. Which means brokers can browse the x402 Bazaar, uncover paid APIs and companies, and pay for them autonomously.
The x402 protocol has already processed over 50M transactions since launching final yr, with Cloudflare co-founding the x402 Basis in September to push it towards an open commonplace. Google built-in x402 into its AP2 agent funds protocol. Visa, PayPal, and American Categorical are all constructing parallel agent cost rails.
CEO Brian Armstrong commented on the strategic wager, posting: “The subsequent unlock for AI brokers simply launched.”
🗣️ What They’re Saying
Erik Reppel, head of engineering at Coinbase Developer Platform, and Josh Nickerson wrote within the launch weblog: “We’re transferring from AI brokers that advise to brokers that act. From assistants that counsel to helpers that execute.”
They added: “Your agent detects a greater yield alternative at 3am? It rebalances robotically, no approval wanted since you’ve already set permissions and controls.”
Dan Kim, Coinbase VP of Enterprise Growth, beforehand described the x402 ecosystem imaginative and prescient: “Companies at the moment are beginning to undertake x402 as a result of [agents are] scraping contents. Having the agent as a part of the usual is a profit to content material creators, nevertheless it additionally permits customers to buy merchandise on-line with out having to show their bank card quantity.”
🧠 Why It Issues
Coinbase is actively leaning into what’s arguably crucial sector of crypto tech proper now: AI brokers × crypto funds.
The timing is deliberate. Each main tech firm is racing to make brokers transactional.
Google launched its Agent Funds Protocol (AP2) in September.
PayPal and OpenAI partnered on instantaneous checkout in ChatGPT.
Visa constructed a Trusted Agent Protocol.
Stripe simply shipped an Agentic Commerce Suite.
The trade consensus is evident: brokers that may’t spend cash are essentially restricted. McKinsey tasks agentic commerce might generate $3-5 T globally by 2030.
And right here’s the place crypto has an edge that legacy rails don’t: stablecoins are programmable, instantaneous, borderless, and don’t require bank card numbers.
Conventional cost methods have been constructed for people. They want classes, authentication, chargebacks, and many others.
Stablecoins settle in seconds with no middleman. For an AI agent paying 0.5 cents to crawl an API or $2 for a premium knowledge feed, bank card rails are absurdly over-engineered.
x402 reduces that to a single HTTP header.
Take into consideration the use instances that open up.
A DeFi agent monitoring yields throughout 20 protocols at 3am, robotically rebalancing when spreads widen.
A analysis agent that pays per-article for premium monetary knowledge, per-query for real-time market indicators, per-minute for GPU compute (all with no human approving every microtransaction).
An AI content material creator that earns USDC for its outputs, pays for its personal internet hosting, and reinvests in higher instruments.
Agent-to-agent commerce the place one bot hires one other to finish a subtask and pays in stablecoins.
How shut are we? Nearer than most individuals assume.
The x402 protocol already has 50M+ transactions underneath its belt. However the caveat is: we’re nonetheless in infrastructure mode.
Discovery remains to be skinny (the x402 Bazaar is early), belief frameworks don’t actually exist but, and regulators haven’t even began to consider autonomous brokers holding cash.
However the basis is being poured proper now.
And Coinbase is betting its developer platform on being the a key participant within the agent economic system—notably, two days earlier than reporting earnings to Wall Avenue.
I’m wondering if agentic commerce might be talked about through the earnings name…
🌎 Macro Crypto and Markets
Company Treasuries & ETFs
The BTC ETFs noticed $276M in internet outflows on Wednesday whereas the ETH ETFs noticed $129M
Meme Coin Tracker
Meme majors have been very inexperienced; DOGE +4%, SHIB +5%, PEPE +5%, TRUMP +6%, PENGU +8%, FARTCOIN +4%
Pippin (+20%) and WhiteWhale (+28%) led notable Solana movers; HTC ran 80x to $6M
💰 Token, Airdrop & Protocol Tracker
Coinbase launched Agentic Wallets, its first pockets infrastructure for AI brokers, with native x402 assist and gasless Base transactions
GTE introduced a partnership with Layer Zero to construct its treasury layer Turbo
Lighter grew to become the primary DEX to supply fairness perps on Korean equities and in addition introduced funding fee rebates for perps merchants
Sui launched an Ethena stablecoin eSui
🚚 What is going on in NFTs?
NFT leaders have been largely pink; Punks even at 29.9 ETH, Pudgy -4% at 4.18 ETH, BAYC -2% at 6 ETH; Hypurr’s +1% at 482 HYPE
Nacci Cartel debuted at 0.24 ETH
Pudgy Penguins formally opened their waitlist for his or her new crypto bank card in partnership with Kast
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