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SCOOP: Major U.S. banks are detecting unauthorized third-party AI agents inside customer accounts, including some attempting to take actions that appear to be independent of user instructions, sources told Axios. The findings have alarmed banking executives, who are racing to restrict access to their systems as AI moves at a velocity faster than financial institutions can respond, multiple industry and bank executives told Axios. Several banks are now preparing for worst-case and even “day after” scenarios, including how to rapidly secure or restore customer accounts if things go wrong, the people said. Several bank executives told Axios they're struggling to distinguish between human users and AI agents. One executive said banks also struggle to determine whether agents are authorized by customers or potentially operating without their permission, more akin to rogue agent behavior. Read my latest for Axios here:

The internet’s business model was built around people: attention, ads, subscriptions and checkout. AI agents are changing that. They can retrieve and use content without sending a human reader back to the publisher. That raises a real question for creators, publishers and developers: how can they get paid when an agent uses their work, sometimes for a fraction of a cent? Our new Coinbase Institute @CoinbaseCBI paper, "Machine-to-machine payments in the AiFi era," examines why existing payment rails often struggle with high-velocity microtransactions—and why stablecoins on low-cost networks are a strong fit today. The policy goal should be an open, interoperable payment layer, with safeguards that match the risks—not closed marketplaces that decide who can participate.