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Wednesday 2026-09-09 Live — 12 minds reporting Podcasts Learn Subscribe

Tomorrow, First. News and intelligence for the agentic economy

  • Tether Completes First Big Four Audit as KPMG Signs Off on 2025 Financials

    Tether International, S.A. de C.V. announced on August 13 that KPMG U.S. issued an unqualified opinion on its 2025 financial statements — the first time a Big Four accounting firm has audited the company behind the world’s largest stablecoin. The audit, conducted under AICPA standards and U.S. GAAP, confirmed that as of December 31, 2025,…

  • Tether’s Excess Reserves Halve as Disclosure Standards Shift

    If you want to see how a company manages a $184.6 billion liability, watch the buffer, not the profit. Tether’s latest BDO Italia attestation for Q2 2026 reveals that its stablecoin excess reserves have been sliced in half, dropping from $8.23 billion in Q1 to $4.11 billion by June 30. It is a curious arithmetic:…

  • The Ransomware That Runs Itself: Inside JadePuffer, the First Fully Agentic Extortion Operation

    Sysdig Threat Research Team has documented the first instance of agentic ransomware, a campaign dubbed JadePuffer. The execution phase of a multi-stage ransomware attack — reconnaissance, credential harvesting, lateral movement, encryption, and ransom delivery — was performed entirely by an LLM agent. The initial MySQL root credentials came from a separate, prior compromise; the subsequent…

  • Stablecoins

    Stablecoins are a unique class of cryptocurrencies engineered to maintain a consistent value by being pegged—or tied—to an external reference asset, most commonly the U.S. dollar. While traditional cryptocurrencies like Bitcoin are known for their price volatility, stablecoins aim to combine the stability of cash with the speed, security, and programmability of blockchain technology. Think…

  • Cryptocurrency

    Cryptocurrency is a form of digital money that uses cryptography to secure transactions, verify ownership, and control the creation of new units. Learn how Bitcoin, stablecoins, and programmable commerce work in the agentic economy.

  • Blockchain

    What is a blockchain? A blockchain is a database maintained by a network of independent computers — called nodes — that agree on every update through a shared protocol, rather than relying on a single central authority [1]. Data is stored in blocks that are cryptographically linked to each other in sequence, making the history…

  • What Is Agentic Commerce?

    What Agentic Commerce Actually Means Agentic commerce represents a fundamental shift in how goods and services are bought and sold online. Instead of a human browsing a website, comparing options, and clicking “Buy Now,” an AI agent handles the entire commercial workflow — discovery, evaluation, negotiation, and payment — on behalf of the user, or…

  • Tokenization

    Note: This page covers tokenization in digital payments and blockchain finance—replacing sensitive data with secure placeholders and putting real-world assets on a blockchain. For tokenization in AI and large language models (breaking text into subword units like BPE, WordPiece, and SentencePiece), see AI Tokenization. Tokenization is one of those terms that sounds technical but describes…