Bitcoin slipped to 13th place among the world's largest assets Wednesday, trading near $75,000 as the AI chip rally continued to pull capital elsewhere. SK Hynix surged 9.3% in Seoul to cross $1 trillion in market cap — joining Samsung and Micron, which hit the threshold Tuesday after UBS tripled its price target to $1,625. Micron is up another 8% in U.S. premarket. Mizuho called memory "the backbone of AI" and sees demand outpacing supply through 2027. Meanwhile, bitcoin is down 11% year-to-date and nearly 30% over the past year, with TSMC and Broadcom now valued at roughly $2 trillion each — both above bitcoin. Swissblock's Risk Index has moved into high-risk territory: spot ETFs have absorbed a net 4,500 BTC all year, May has flipped to net outflows, and a single unknown investor dumped $1.29 billion of BlackRock's IBIT in one dark-pool trade Tuesday — the largest block trade of its kind on record. Tom Lee's $76,000 support level, which he says must hold by month-end to confirm a new bull market, is under active test.
Robinhood launched Agentic Trading and an Agentic Credit Card Wednesday, letting users connect third-party AI agents to a dedicated trading account — separate from their main portfolio — to execute stock orders autonomously. Agents can rebalance portfolios, analyze sector exposure, monitor themes, and place trades within user-defined limits. A paired virtual credit card lets agents make purchases automatically, like snagging concert tickets before sellout or buying when prices hit a threshold. The beta supports equities only; crypto, options, futures, and prediction markets are planned next. The launch uses Robinhood's MCP server — the same protocol Coinbase's Base deployed Tuesday — and arrives as Visa, Google, and Stripe are all racing to build agentic payment infrastructure. Robinhood VP Abhishek Fatehpuria: "I think our audience right now is the early adopters of agents."
Koinly CEO Robin Singh argues that regulatory clarity is necessary but not sufficient — the U.S. crypto tax framework is still too broken for mainstream adoption to follow. Form 1099-DA, which any crypto broker must now issue, creates serious reporting gaps: it doesn't cover wallet-to-wallet transfers, DeFi activity, or cost-basis reconciliation across chains, leaving users to manually reconstruct complex transaction histories to avoid audit risk. Singh's case: the CLARITY Act may define what crypto is, who regulates it, and how platforms operate — but until everyday users can transact without triggering a taxable event on every coffee they buy with stablecoins, the law is solving the supply-side problem while leaving the demand-side problem intact. Tax reform bills like the PARITY Act are moving slowly. The gap between regulatory clarity and actual usability remains wide.
