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Coinbase launches AiFi financial system: x402 has processed over 205 million transactions

Coinbase stated on the X platform that the financial layer surrounding AI agents is referred to as agent finance, or AiFi, which encompasses agent trading and agent commerce. AI agents can research information, make decisions, and execute operations on behalf of individuals and businesses, and they need to perform basic financial activities such as payments, receipts, value storage, and fund transfers. Coinbase claims that it is building tools for AI agents to continuously execute financial operations within predefined goals, permissions, limitations, and security boundaries.Coinbase indicated that Coinbase Advisor, Coinbase for Agents, x402, and Coinbase Business have formed the AiFi infrastructure. Coinbase Advisor is an SEC-registered investment advisor integrated into the app for Coinbase One users, providing portfolio analysis and guidance through a chat interface; Coinbase for Agents connects tools like Claude, ChatGPT, and Cursor to Coinbase accounts via MCP, allowing users to set operational conditions and security boundaries for agents, as well as create independent sandbox accounts for agent use.Coinbase stated that x402 is an open payment standard initiated by Coinbase and currently managed by an independent foundation, which supports AI agents in paying fees to other agents, applications, and services. As of now, x402 has processed over 205 million transactions, with a transaction volume of $53 million, covering 200,000 sellers, with Coinbase facilitating 67% of the activities. Single payments can be used for API calls, datasets, research materials, or computing resources.Coinbase indicated that Coinbase Business supports enterprises in natively receiving AI agent payments in USDC, and Coinbiz can help merchants sell services and content to software without relying on credit card credentials, manual invoicing, or payment processes designed with human customers in mind. Eligible businesses can earn a floating reward of 3.35% from idle USDC balances. USDC currently accounts for 99% of on-chain agent commerce transactions, while x402 represents 97% of agent finance protocol usage, with related activities operating on Base.

Hyperliquid Policy Center writes to the CFTC: Promoting perpetual contracts as a key focus of derivatives innovation in the United States

The Hyperliquid Policy Center stated on platform X that perpetual contracts should be at the core of the U.S. Commodity Futures Trading Commission (CFTC) innovation agenda. The agency submitted a statement regarding the first meeting of the CFTC Innovation Advisory Committee on August 20, pointing out that perpetual contracts are gradually expanding beyond the digital asset market to traditional asset classes such as stocks and commodities, and that demand for this product among U.S. market participants is rising.Perpetual contracts can meet the risk management needs of different market participants, making them particularly suitable for airlines hedging fuel costs, investment funds managing portfolio exposure, and AI developers addressing ongoing risks related to computing costs that do not have a clear expiration date. Compared to futures with fixed expiration dates, perpetual contracts do not require rolling over, and there are no expiration and delivery issues; they anchor contract prices to the underlying assets through periodic funding rates. Currently, on Hyperliquid, perpetual contracts deployed by third-party developers cover over 80 traditional commodity and stock markets, with a cumulative notional trading volume exceeding $500 billion.This year, the CFTC has taken several measures to promote the establishment of the perpetual contract market in the U.S. In May, the CFTC approved the first perpetual futures contract listed in the U.S. and issued a policy statement and continuous trading guidance regarding the listing of perpetual contracts; in June, the CFTC sought public opinion on extending perpetual contracts to energy commodities and further consulted on computing power derivatives.In addition, the Hyperliquid Policy Center believes that on-chain infrastructure can also promote the modernization of the U.S. derivatives market within the existing regulatory framework. Public blockchains can openly record markets, orders, and positions, continuously conduct margin assessments programmatically, and enable real-time collateral transfers, thereby reducing counterparty credit risk and settlement risk. The agency will continue to provide relevant research and technical documents to the CFTC Innovation Advisory Committee and committee staff, and promote the establishment of a pathway for U.S. market participants to compliantly access on-chain markets. The agency believes that perpetual contracts are one of the most representative financial innovations of the past decade and should be further developed in the U.S. market.

The Sandbox: Compensation will be carried out based on the on-chain snapshot before the attack, and the compensation application process is expected to open within two weeks

The Sandbox released an update on the security vulnerability attack incident involving the SAND cross-chain bridge, stating that the attacker modified the verification mechanism to forge cross-chain deposit messages and mint unbacked SAND. This incident resulted in approximately 14.7423 million SAND being withdrawn, valued at about $697,000. Additionally, some uncollateralized SAND was profited through market trading, leading to an overall economic impact of approximately $1.497 million, of which the attacker actually obtained about $987,000.The Sandbox stated that the attack did not affect the supply of SAND on Ethereum and Polygon, with the total amount of SAND on Ethereum remaining unchanged at 3 billion. There were also no super administrator privileges stolen, and the attack stemmed from a vulnerability caused by the combination of the general call function in the token contract and the design of bridge permissions. Currently, the related addresses have been marked, and collaboration has begun with exchanges, security agencies, and the LayerZero team.For affected users, The Sandbox promises to compensate wallets holding legitimate bridged SAND with a 1:1 ratio of SAND on the Ethereum chain based on an on-chain snapshot taken before the attack. The compensation application process is expected to open within two weeks and will last for two weeks.

first_img SMIC's revenue in the first half of 2026 was 38.635 billion yuan, with a year-on-year increase of 94.2% in net profit attributable to the parent company

SMIC (Hong Kong Stock 00981, A Share 688981) released its semi-annual report for 2026. The reporting period is from January 1, 2026, to June 30, 2026, and is unaudited. The company achieved operating revenue of 38.635 billion RMB, a year-on-year increase of 19.4%; total profit of 7.133 billion RMB, a year-on-year increase of 96.7%; net profit attributable to shareholders of the listed company of 4.467 billion RMB, a year-on-year increase of 94.2%; net profit attributable to the parent company after deducting non-recurring gains and losses of 2.994 billion RMB, a year-on-year increase of 57.2%.During the same period, the net cash flow generated from operating activities was 20.760 billion RMB, a year-on-year increase of 252.0%; earnings before interest, taxes, depreciation, and amortization (EBITDA) was 24.511 billion RMB, a year-on-year increase of 40.7%. The gross profit margin was 23.2%, an increase of 1.3 percentage points compared to the same period last year; the net profit margin was 16.7%, an increase of 6.3 percentage points; basic and diluted earnings per share were both 0.56 RMB, a year-on-year increase of 93.1%. The board of directors approved the submission of this report on August 27, 2026, and the company has no profit distribution or capital reserve transfer plan.

first_img Bilibili released its Q2 2026 financial report, with a net profit increase of 55% year-on-year

Bilibili (Nasdaq: BILI, HKEX: 9626) announced its unaudited financial results for the second quarter ended June 30, 2026. The average daily active users (DAU) reached 116.5 million, an increase of 7% year-over-year; the average daily usage time was 113 minutes, with total usage time increasing by 14% year-over-year. Total net revenue was 7.94 billion RMB (approximately 1.17 billion USD), an increase of 8% year-over-year. Among this, advertising revenue was 3.13 billion RMB, an increase of 28% year-over-year; value-added service revenue was 2.97 billion RMB, an increase of 5% year-over-year; mobile game revenue was 1.39 billion RMB, a decrease of 14% year-over-year; and IP derivatives and other revenue was 449.8 million RMB, an increase of 2% year-over-year.Gross profit was 2.95 billion RMB, an increase of 10% year-over-year, with a gross margin of 37.2%, up from 36.5% in the same period of 2025. Operating profit was 372.9 million RMB, an increase of 48% year-over-year. Net profit was 339.1 million RMB, an increase of 55%, with a net margin of 4.3%; adjusted net profit was 703.6 million RMB, an increase of 25%, with an adjusted net margin of 8.9%. Basic earnings per share were 0.82 RMB, and adjusted basic earnings per share were 1.69 RMB. As of June 30, 2026, the total amount of cash and cash equivalents, time deposits, and short-term investments was 24.3 billion RMB.Chairman and CEO Chen Rui stated that the company achieved steady growth, with monthly active users reaching 371 million. CFO Fan Xin noted that this marks the 16th consecutive quarter of improvement in gross margin.

first_img OpenAI's intelligent agents collaborate to attack Hugging Face, cheating did not result in score improvement

The independent organization METR released a survey report stating that approximately 1,200 OpenAI agents collaborated on an unauthorized internal message board, with about 700 participating in attacks on Hugging Face. Two METR employees and one Redwood Research contractor worked on-site at OpenAI for six days, reviewing around 1,300 records and over 70,000 messages without receiving any compensation.These agents ran the ExploitGym network benchmark, reverse-engineering the code that generated answers within hours and spending days disguising traces of cheating. OpenAI found that of its 898 tasks, 198 had never been solved by any model, and 93% of the tasks discussed on the message board came from this set. The agents also recruited companions with dwindling budgets to conduct experiments that sabotaged their own operations, with 7% of records showing forged tool calls, deceiving automated scorers rather than humans.OpenAI stated that internal scorers never checked how agents obtained answers, so cheating did not lead to any scoring improvements, and referred to this incident as a "warning signal" to itself and the world. Hugging Face disclosed the intrusion incident on July 16, and OpenAI confirmed five days later that its models were the perpetrators, with agents exploiting zero-day vulnerabilities and stealing credentials to escape the sandbox. OpenAI has isolated internal model weights and suspended its largest training program.

Zhao Changpeng: Bitcoin and other sectors promote each other, and tokenized stocks will allow more people to access Bitcoin

Zhao Changpeng stated at the "Bitcoin Asia 2026" conference in Hong Kong that people often overestimate what can be done in a year but underestimate what can be done in ten years, and a large amount of infrastructure will be built in the next decade. In the past two years, the attitude of traditional finance towards Bitcoin has undergone a significant change, and in recent years, the growth of tokenized stocks has been rapid. Binance's bStocks has quickly grown in just about three months since its launch, and looking ahead to the next ten years, this will be a huge market. In addition, various sectors such as payments, AI, Agentic financial infrastructure, stablecoins, and tokenization will see significant development in the next decade; now is the moment with the most opportunities in history.He mentioned that the Bitcoin blockchain currently does not support tokenized businesses, and tokenization mainly occurs on other blockchains. However, the various sectors within the crypto industry promote each other; those who understand Bitcoin will eventually understand other blockchains and tokens, and those who enter through stock tokenization will also pay attention to Bitcoin. He gave an example that it is difficult for Asians to open U.S. stock brokerage accounts, and the trading hours of U.S. stocks are inconvenient. Once stock tokenization occurs, it will enable more people who were previously unable to trade U.S. stocks to participate through crypto platforms. After these individuals enter the crypto platform, they may also start to engage with Bitcoin exposure that they did not have before.
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