Chainalysis: AI Agents Log 138 Million Crypto Payments, U.S. Wallets Lead AI Spending

Chainalysis reported that AI agents have made more than 138 million crypto payments through Coinbase's x402 protocol on Base. U.S.-linked wallets represented 88.1% of geographically identified AI inference spending, while China-linked wallets were 0.1%. The data points to growing automated crypto payments, though the report cautions that transaction counts may not reflect true commercial demand.

Chainalysis tracked over 138 million x402 payments on Base, a Coinbase-incubated protocol for machine-to-machine crypto payments. Its report found U.S.-linked wallets made up 88.1% of geographically identified AI inference spending, versus 0.1% for China-linked wallets. Most analyzed payments ranged from a hundredth of a cent to ten cents.

Chainalysis researcher Eric Jardine suggested Chinese developers may rely more on open-weight models such as DeepSeek and Qwen, lowering demand for billed inference. Coinbase now lets business customers accept AI-agent payments, and Visa, Mastercard, and Stripe have backed x402. Animoca's Yat Siu estimated up to 100 billion AI agents could transact online in coming years.

Count words. First para: Chainalysis(1) tracked2 over3 1384 million5 x4026 payments7 on8 Base9, a10 Coinbase-incubated11 protocol12 for13 machine-to-machine14 crypto15 payments16. Its17 report18 found19 U.S.-linked20 wallets21 made22 up23 88.1%24 of25 geographically26 identified27 AI28 inference29 spending30, versus31 0.1%32 for33 China-linked34 wallets35. Most36 analyzed37 payments38 ranged39 from40 a41 hundredth42 of43 a44 cent45 to46 ten47 cents48. Second: Chainalysis49 researcher50 Eric51 Jardine52 suggested53 Chinese54 developers55 may56 rely57 more58 on59 open-weight60 models61 such62 as63 DeepSeek64 and65 Qwen66, lowering67 demand68 for69 billed70 inference71. Coinbase72 now73 lets74 business75 customers76 accept77 AI-agent78 payments79, and80 Visa81, Mastercard82