Today in crypto, Coinbase CEO Brian Armstrong sees AI agents as future of crypto-based financial services. Storj said its network will continue operating during Chapter 11 as it explores a court-approved ownership mechanism for STORJ holders, while Sberbank, Russia’s biggest bank, plans to create cryptocurrency trading infrastructure by Dec. 1.
Coinbase CEO touts agentic finance as Base tops 100M AI payments
Coinbase CEO Brian Armstrong is pushing back against calls for crypto to pivot to artificial intelligence, arguing AI agents will instead stoke demand for crypto-based financial services.
Armstrong took to X on Sunday to tout agentic finance (AiFi), highlighting Coinbase’s Base network, USDC and x402 as the infrastructure for autonomous machine-to-machine payments.
“AI being a megatrend takes nothing away from crypto,” Armstrong wrote, because AI agents will need programmable money rather than traditional banking rails. “If anything, it makes crypto more important,” he added.
His comments come as crypto companies increasingly position blockchain networks as payment infrastructure for AI agents, with agentic payment activity on Base topping 100 million transactions in June.
Storj files for bankruptcy, explores equity path for tokenholders
Decentralized cloud storage provider Storj Labs has filed for Chapter 11 bankruptcy protection. The company said it plans to keep its network running while restructuring legacy liabilities and exploring an ownership pathway for STORJ tokenholders.
On Sunday, Storj said it filed the voluntary case in the US Bankruptcy Court for the Northern District of West Virginia. The company said ordinary operations and customer services would continue during the process, subject to court oversight, while its parent company, Inveniam, continues supporting the business.
The restructuring could become an unusual test of whether utility-token holders can participate in the ownership of a company emerging from bankruptcy.
In an open letter to its community, Storj said its liabilities largely predate its current strategy and are too substantial to resolve through business growth alone. It said the network continues to operate normally and its token’s utility is unchanged.
STORJ showed no significant immediate price reaction following the announcement, trading around $0.073 at the time of writing, according to CoinGecko.
Russia’s Sberbank to launch crypto trading infrastructure this year
Sberbank, Russia’s biggest bank, plans to build cryptocurrency trading infrastructure including a digital depository no later than Dec. 1 as the country brings crypto trading, custody and settlement into its regulated financial system.
That digital depository, Interfax reported, will record ownership of cryptocurrency and process most transactions outside of the main blockchain. Sberbank will operate active wallets for client-initiated deposits, withdrawals and transfers.
“One of the key elements of the new infrastructure will be a digital depository, which will maintain records of clients’ cryptocurrency rights and account for transactions outside the main blockchain,” said Alexander Vedyakhin, first deputy chairman of Sberbank’s management board, the state-affiliated press service said. “It will also facilitate transactions on active wallets to fulfill clients’ currency transfer orders.”
Russia’s lawmakers earlier this month moved the country closer to its first comprehensive crypto market framework after completing final readings on a bill that would regulate digital asset activity.
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