MoonPay Acquires Dawn Labs and Launches AI Trading Tool as Kalshi Hits $22 Billion Valuation

CROSS News

Payments firm MoonPay has acquired Dawn Labs for an undisclosed sum and immediately unveiled Dawn CLI, an AI trading agent built to simplify activity on prediction market venues such as Polymarket and Kalshi. The company says the tool lets users execute strategies in plain English, drawing on social signals, automated logic and cross-platform positioning that previously required technical expertise. Dawn Labs founder Neeraj Prasad framed the launch as a way to democratize prediction trading through general intelligence. The move arrives as prediction platforms attract a new wave of active traders, even while several US states pursue lawsuits alleging the venues facilitate unlicensed sports betting under the guise of blockchain event contracts.

Bank of England Governor Andrew Bailey has warned of a coming wrestle with Washington over stablecoin oversight, arguing that dollar tokens lacking direct redemption guarantees could flood Britain during a crisis. Speaking at a BoE conference on financial imbalances, Bailey said global payments architecture only works with shared international standards, a position he intends to press through his role chairing the Financial Stability Board. The GENIUS Act permits issuers to redeem via exchanges, while the UK regime requires direct 1:1 redemption from the issuer. Bailey added that runs on stablecoins would almost certainly migrate offshore, with British markets absorbing the fallout from any disorderly unwind.

Cross-border payments firm Corpay has partnered with BVNK to embed stablecoin wallets directly into its corporate treasury platform, allowing clients to view tokenized dollar balances alongside fiat and move funds outside traditional banking hours. The integration also routes select corridors through JPMorgan's Kinexys private blockchain and BVNK's settlement rails, supplementing SWIFT and Corpay's proprietary iACH network. The firm expects the shift to cut reliance on pre-funded accounts and improve capital efficiency. Visa data shows over $1.2 trillion in stablecoin transaction volume across the past 30 days, up from $733 billion a year earlier, underscoring how quickly tokenized dollars are becoming an operational settlement layer.

Peter Thiel-backed payments startup Augustus has received conditional approval from the US Office of the Comptroller of the Currency to establish a national bank engineered around artificial intelligence and stablecoin settlement. The company describes Augustus National Bank as the first clearing bank for the AI era, with infrastructure designed to interact directly with machine agents at the speed of compute rather than batch processes. Founded in 2022 and already licensed in Europe, Augustus processes billions for institutional clients including the Kraken exchange. The conditional approval places the firm among a small cohort, alongside Ripple and Circle, advancing toward US federal chartering under the GENIUS Act framework.

Digital Asset Holdings, the company behind the Canton Network, is targeting roughly $300 million in a new funding round at a $2 billion valuation, with a16z crypto among the prospective lead investors. The round, advised by FT Partners, is expected to close within weeks and would follow a roughly $50 million strategic injection in late 2025 from Bank of New York Mellon, Nasdaq and existing backers DRW and Citadel Securities. Canton operates a privacy-enabled, permissioned blockchain connecting tokenized institutional assets, and earlier this year it facilitated the first cross-border intraday repurchase agreement using tokenized British gilts, a market worth more than $2 trillion.

The Ethereum Foundation is reorganizing its core Protocol cluster as veteran developers Barnabé Monnot and Tim Beiko prepare to depart and Alex Stokes takes a sabbatical. Will Corcoran, Kev Wedderburn and Fredrik have been named new cluster co-leads, covering zkEVM development, Trillion Dollar Security research and post-quantum work. The team coordinates the base layer roadmap, including upcoming Glamsterdam and Hegotà upgrades. The shuffle continues a turbulent transformation period for the foundation, which has lost prominent figures including Josh Stark and former co-executive director Tomasz Stańczak, while doubling down on scaling, privacy and quantum-resistant consensus mechanism research.

CROSS is trading near $0.09768 after a 2.61% pullback over the past 24 hours, with daily turnover of roughly $980,000 reflecting thin liquidity typical of a smaller-cap altcoin. The trend currently reads sideways, and with no defined support or resistance bands printing and momentum indicators flat, price action looks range-bound rather than directional. A reclaim of the $0.10 psychological handle on rising volume would tilt the structure constructive, while a sustained loss of the $0.095 area would invalidate the consolidation thesis and open the door to deeper discovery. Until volume expands, traders should treat any move as low-conviction and wait for a clean breakout.