Crypto card holders across the EU are spending their stablecoins on everyday items, not the stereotypical big-ticket luxury items. That’s the finding of an analysis of crypto debit card holders by exchange OKX, which issues the OKX Card. Looking at card transactions from late January to late February, the first month after the card’s launch, OKX found that 26% of all transactions — more than one in four — were for groceries. Food-related spending across groceries, restaurants, and fast food outlets accounted for 44% of all spending. Online marketplaces accounted for 13% “There’s a stubborn myth about crypto spending,” OKX said. “The image that persists is a tech nerd or…
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MoonPay Launches Mastercard for AI Agents
MoonAgents Card will draw on an onchain wallet
Crypto payments firm MoonPay has launched a new virtual debit Mastercard designed for AI agents as well as human users. Using stablecoins and offering merchants payment in fiat, the MoonAgents Card is accepted at any online merchant across 210 countries that accepts Mastercard. The card is issued through Monavate, a regulated global payments platform and principal member of the Mastercard network. The launch comes just a day after digital wallet and payment app startup Oobit announced the launch of a new stablecoin-backed corporate Visa debit card designed for AI agents. Unlike the Oobit card, the MoonAgents Card does not require users to pre-load a custodial balance in stablecoins, but rather…
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One-Third of the 2025 Tax Forms Kraken Filed Were Below $1
Capital gains taxes must be paid on all of them
Cryptocurrency exchange Kraken filed 56 million crypto tax forms in 2025. Half were for amounts below $10 and three quarters below $50. One third were below a single dollar. That’s a big problem for crypto owners when it comes to filing taxes, as each of those transactions requires them to fill out a capital gains report. “These forms were not sent to sophisticated traders who made big returns from crypto,” Kraken said in an April 22 report. “The vast majority of the forms are for staking rewards measured in fractions of a cent, small purchases, and routine activity. Every single one generates a form that a real person is now…
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Circle Won’t Freeze Stolen USDC Without Court Order
CEO Allaire defends refusal to act during hacks
In the face of growing criticism, Circle CEO Jeremy Allaire defended the USDC-issuer’s policy of refusing to freeze its stablecoins immediately after hacks and exploits. While leading stablecoin issuer Tether freezes its USDT stablecoins if it can be done in time — often within hours of a reported hack — to prevent stolen funds from being moved, Circle does not. It has been criticized for refusing to act while stolen funds are still in a position to be seized and restored to their rightful owners. Speaking during a press conference in Seoul, South Korea, on Monday, Allaire explained that as a regulated financial product, it cannot freeze tokens on a…
