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Coinbase’s New Payment Protocol Lets AI Agents Send Money Without Human Help – And It’s Already Processing Millions

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Machines Just Got Their Own Wallets

Coinbase has launched Payments MCP, a revolutionary system that enables AI agents to create crypto wallets, fund them, and send stablecoin payments using simple text commands—no API keys or complex setup required. AI agents are already using this technology to buy data, pay for computing power, and settle transactions worth millions of dollars.

The numbers speak for themselves. The x402 field’s market value surged from $178 million to $832 million in just three days in October 2025, supported by 44 projects. By September of this year, the protocol had processed 1.38 million transactions worth $1.48 million, involving over 72,500 buyers. These are real transactions happening right now with real money on the line.

x402 Turns a Forgotten Web Code into AI Payment Rails

The clever part? Coinbase built this system on a largely unused web standard from the 1990s. The protocol utilizes the HTTP 402: Payment Required status code, originally created decades ago but never implemented widely.

Erik Reppel, Coinbase’s head of engineering, explained, “Marc Andreessen and the team at Netscape explored it while discovering credit card systems” back in the ’90s, but now it finally has a real purpose.

Here’s how it works: When an AI agent tries to access a paid service, the server responds with a 402 code containing payment instructions. The agent reads these instructions, sends USDC stablecoins, and gains instant access—no signup forms, no waiting.

Coinbase and Cloudflare have announced the formation of the x402 Foundation to promote this as an industry standard. Cloudflare CEO Matthew Prince stated that x402 has the “likelihood to become a core protocol for agentic commerce.” With a company protecting half the internet backing this payment protocol, something big is indeed happening.

AI and Instant Payments Transform Online Entertainment

This technology is already having an impact on the online entertainment sector. For example, crypto-enabled online casinos demonstrate the power of combining AI with instant payments. Players enjoy amazing bonuses, massive game libraries, and withdrawals hitting their wallets within seconds. Gambling expert Matt Bastock rated the top choices on the casinobeats.com online casinos list, showcasing this new era.

AI Agents Can Now Buy Computing Power and Data Independently

The system supports AI models like Claude, Gemini, Codex, and Cherry Studio right out of the box. ChatGPT support is coming soon, pending some technical compatibility fixes.

What ensures safety? Users set spending limits for their AI agents. Reppel noted, “They have dedicated funds you explicitly give them, but they don’t have access to your main wallet. It’s impossible for an agent to rack up a credit card bill you’re responsible for.” For example, an agent might be allowed to spend ten cents freely but would need your approval for anything over a dollar.

Early adopters include Prixe, a stock price API enabling agents to create financial reports, as well as numerous image and video generation services. These agents chain services together—pulling market data, generating charts, writing analysis—all powered by automatic micropayments.

The efficiency gains are significant. Fintech startups report a 60-80% reduction in AI integration costs within the first year, saving between $400,000 and $640,000 annually.

The $30 Trillion Question: Who Pays When Machines Do Business?

Gartner estimates that the machine-to-machine economy could reach $30 trillion by 2030. By the end of this year, experts predict AI agents will execute 90% of all blockchain transactions.

Big players are betting on this future. In July 2025, CoreWeave, an AI data center company, acquired Core Scientific—the largest Bitcoin miner—for $9 billion, pivoting crypto mining infrastructure toward AI computing power.

However, challenges remain. Questions regarding security, responsibility, and standards persist. Who is liable if an AI agent sends funds to the wrong address? What happens if an agent’s wallet is hacked?

Security researchers uncovered vulnerabilities as recently as April 2025, where LLM-based attacks were used to manipulate agents.

As this technology advances, the industry faces critical decisions to safeguard the future of autonomous machine commerce.
https://usethebitcoin.com/crypto/coinbases-new-payment-protocol-lets-ai-agents-send-money-without-human-help-and-its-already-processing-millions/

general

Micron (MU) Stock: Company Abandons Chinese Data Center Fight After Ban

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Micron Technology (MU) is set to halt its supply of server chips to data centers in China following an unsuccessful recovery from Beijing’s 2023 product ban. The chipmaker announced on October 17 that it will exit this specific market segment, marking a significant shift in its operations amid ongoing trade tensions between the U.S. and China.

### Background: The Beijing Product Ban and Its Impact

Micron was the first American semiconductor company to face pressure from Chinese authorities when Beijing imposed a product ban in 2023. This ban was widely viewed as a retaliatory move in response to Washington’s restrictions targeting China’s tech industry growth. Despite China’s rapidly expanding data center market, Micron was effectively shut out, unable to capture any market share in this lucrative sector.

### Selective Market Approach in China

Although Micron is pulling back from supplying server chips to Chinese data centers, it isn’t completely leaving the Chinese market. The company will continue to sell chips to Chinese customers that have substantial operations outside of China. Additionally, Micron plans to maintain its presence in China’s automotive and mobile phone sectors, which remain open for business.

This selective strategy enables Micron to balance continued market access with the realities of government-imposed restrictions, maintaining a foothold in the world’s second-largest economy despite the challenges.

### CEO Sanjay Mehrotra’s Recent Stock Activity

Amid these strategic shifts, Micron’s CEO Sanjay Mehrotra has been active in the stock market. In late October, he sold company shares valued at approximately $5.13 million. These transactions, spanning October 29 and 30, involved the sale of 18,586 shares with prices ranging from $221.68 to $231.45 per share.

– On October 29, Mehrotra sold 8,968 shares at an average price of $230.23 and 2,930 shares at $231.45.
– On October 30, he sold multiple lots at slightly lower prices: 527 shares at $221.68, 596 shares at $223.04, 1,131 shares at $224.30, 3,225 shares at $225.05, 4,911 shares at $226.14, and 212 shares at $226.79.

These sales were conducted under a Rule 10b5-1 trading plan, which Mehrotra established on August 8, 2024. This plan allows executives to sell shares on a predetermined schedule to avoid any appearance of insider trading.

Additionally, on October 29, Mehrotra gifted 10,000 shares. After these transactions, he directly owns 409,078 shares and holds an indirect ownership of 675,000 shares through grantor retained annuity trusts for himself and his family.

### Conclusion

Micron Technology’s decision to stop supplying server chips to Chinese data centers reflects the ongoing challenges posed by geopolitical tensions and regulatory barriers. However, by focusing on automotive, mobile phone sectors, and customers with operations outside mainland China, Micron aims to sustain a strategic presence in the Chinese market.

Meanwhile, CEO Sanjay Mehrotra’s stock transactions underscore the company’s ongoing corporate maneuvers as it navigates this complex business environment.
https://blockonomi.com/micron-mu-stock-company-abandons-chinese-data-center-fight-after-ban/

culture, economy, finance, lifestyle, technology

MAGGIE PAGANO: Cash is still king, right? Wrong

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If you have heard reports of a rather sweaty woman in gym gear running around the streets of Saffron Walden brandishing a crisp £50 note and cursing under her breath, that was me.

After the gym, I had stopped off at the health food shop to stock up on a few things, handing the assistant the £50 tucked into my leggings. The assistant refused my money. “But surely it’s legal tender,” I cried, “you can’t refuse it.” She didn’t budge, explaining that head office had told them not to accept £50 notes because of counterfeit concerns.

Determined, I went to the butcher’s shop opposite, where I know the staff, asking if they could break the note. Same story—no £50 notes accepted. They suggested I go to a bank. Not such a bad idea, I thought.

However, my bank, Barclays, closed long ago and only two banks remain in town. I ran to Nationwide, where there was a long queue. Explaining my problem, I asked the waiting customers if I could ask the cashier to change the note. They all said yes, of course.

One gentleman took one look at my Queen’s-head note and confidently said it wasn’t fake. That felt like a small victory. The chatter in the queue caught the cashier’s attention, and he stepped out to examine the note himself. He agreed—it was genuine. Another victory!

“But are you a Nationwide customer?” he asked. It felt like a trick question—and it was. Nationwide does not change money if you are not a customer.

By then, I was ready to raise an Essex peasants’ revolt against shops that don’t take money and banks that don’t change banknotes. As luck would have it, one of the kind ladies in the queue opened her wallet, checked her cash, and offered to change my £50.

My first call was to the Bank of England.

**Can vendors refuse to take cash?**

Yes, says the press officer—they can. Even though cash is legal tender, the concept has a narrow, technical legal definition related to contracts. No one is obliged to accept cash in exchange for goods.

**So why is cash usage shrinking so fast?**

Is it because vendors find cash messy to deal with? Are business owners being pushed by payment giants to go digital so they can be charged more? Or do most people simply prefer using cards or, increasingly, mobile payment apps? It’s probably a chicken-and-egg situation.

Whatever the reason, cash is under the kibosh. It made up just 9% of payments last year, compared to nearly half of all transactions a decade ago. It’s predicted to fall to 4% over the next ten years.

**But what happens in emergencies?**

Imagine a cyber hack or cyber warfare brings down banks. Or there are blackouts, like those recently experienced in Spain and Portugal. Or other crises such as another lockdown or war.

Being resilient is why countries such as Norway, Sweden, and the Netherlands have warned their citizens to always keep cash in reserve. They’re also introducing legislation ensuring vendors must accept cash.

The European Central Bank is alert to these dangers as well. All households have been advised to store cash at home in case digital systems fail—as they inevitably will.

In contrast, the Bank of England does not have the mandate to issue such warnings; that responsibility lies with the Government. Interestingly, its Governor, Andrew Bailey, told a recent Citizens’ Panel in Wolverhampton that he always carries cash with him in case of emergencies.

Does that include any £50 notes, I wonder?
https://www.thisismoney.co.uk/money/comment/article-15164391/MAGGIE-PAGANO-Cash-king-right-Wrong.html?ns_mchannel=rss&ns_campaign=1490&ito=1490