IREN Rally - IREN shares jump 11% in pre-market trading as Bitcoin miner doubles AI cloud fleet.
China Crackdown - China regulator tells brokerages to pause RWA tokenization efforts in Hong Kong.
Plasma Plans - Plasma blockchain to launch stablecoin-focused neobank.
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Messari's protocol reports give you a deep dive on the foundation and state of top crypto protocols, including key metrics and notable events. See the complete list of protocol reports here and get a preview of our latest report below.
Infrastructure + payments/RWA platform bridging Web2/TradFi and Web3 with a focus on stablecoin settlement, tokenized collateral, and consumer payments
Circulating market cap and token price +12.7% QoQ; average daily transactions +14.4%
Partnership with Paxos International adds USDL (yield-bearing, Treasuries-backed stablecoin) as reserve collateral for USDV
New CEX listings, wallet integrations, trading competitions, and more.
Privacy-focused Layer-1 blockchain
Staked ALEO grew 14.3% QoQ to 1.3B tokens
Circulating market cap rose 5.8% QoQ
30+ live apps, bridge upgrades (Verulink), and dev events (zkHack Berlin, Codesprint) expanded the community
Rebounded 63% QoQ to $0.28; circulating market cap grew 86% to $1.57B
TVL hit an all-time high of $609M (+68% QoQ), led by Yei Finance and Takara Lend
Daily volumes hit $24.6M (+53% QoQ); Sailor led, DragonSwap launched DRG token
Supply reached $277M, boosted by Circle’s launch of native USDC on Sei
The story of technological progress in finance is one of tools that reshape not only how money moves, but also how people work. In the 1980s, the Bloomberg Terminal changed everything for bond traders. Suddenly, information that was once fragmented and delayed was piped into a single screen, accelerating decision-making and birthing new investment strategies.
Today, AI is setting the stage for a similar transformation. Just as Bloomberg was the Trojan horse that automated workflows before becoming market infrastructure, AI is entering the labor force under the guise of “productivity software.” The long-term consequence is not just efficiency gains, but entirely new ways of building firms, valuing assets, and allocating capital.
AI Meets Crypto’s Open Data Advantage
The first wedge for AI is labor automation, drafting memos, parsing contracts, and cleaning data. For tradfi, that means shaving hours off diligence or back-office work. But in crypto, the opportunity is larger: onchain data is natively structured and publicly available. This gives AI models a unique sandbox where they can continuously scrape, analyze, and synthesize trade signals without needing to navigate gated PDFs or siloed spreadsheets.
In practice, that means crypto-native firms can operate with a level of real-time intelligence that PE and venture investors can only approximate.
Early adopters in crypto markets will treat AI as alpha: faster trade execution, detection of anomalies in onchain flows, or arbitrage between exchanges. But just like indexing rose after Bloomberg made data ubiquitous, these advantages will compress as AI tools proliferate.
The real story is what comes next: Imagine autonomous agents that constantly rebalance liquidity pools, negotiate cross-chain swaps, or update a venture thesis as a tokens community evolves. Instead of quarterly investment memos, AI can rewrite the playbook daily, turning crypto investing into a state of continuous measurement.
While technology will sharpen the science of investing, the art remains stubbornly human. In crypto, that means building trust in communities, sensing when a project’s culture doesn’t match its technicals, or seeing value in experiments that algorithms dismiss as noise.
Just as the best traders didn’t disappear with the Bloomberg Terminal, the best crypto investors won’t be automated out of existence. They’ll be the ones who know how to use AI not just to trade faster, but to think differently.
If Bloomberg marked the rise of data-driven finance in the 20th century, AI layered on top of crypto could mark the rise of intelligence-driven finance in the 21st.