Coinbase executive "Crypto assets essential for AI agents"

Claims have emerged that AI-based agents need to leverage blockchain and cryptocurrencies instead of traditional financial infrastructure to function properly in financial markets.

On the 30th (local time), Cointelegraph reported that John D'Agostino, Coinbase's head of institutional strategy, said, "The traditional financial system is not suited for real-time, large-scale machine-to-machine transactions," and added, "Trying to put AI agents on 100-year-old financial infrastructure is impossible." He continued, "Just as you wouldn't stream a movie over a modem, you shouldn't make AI agents use old financial systems," and emphasized, "Crypto assets are essential to maximize the performance of AI agents."

He also drew a line in the debate comparing Bitcoin and gold. D'Agostino said, "Bitcoin, unlike gold, is programmable, digital, easy to move, and can generate returns," and said, "Those worried about the global increase in the money supply need assets that can offset it."

He predicted that as U.S. rate cuts proceed, trillions of dollars could be released, and some of that could flow into Bitcoin. However, he warned against exaggerated expectations regarding institutional investor inflows. He added, "Institutions such as pension funds and sovereign wealth funds move cautiously and gradually," and "There won't be a wave that comes all at once collectively."