Digital Asset Holdings raised $355 million at a valuation of about $2 billion. The funding round was led by a16z Crypto, which invested $100 million, with participation from 7RIDGE, Abu Dhabi Investment Authority, Citadel Securities and Optiver. Digital Asset plans to use the proceeds to expand the Canton Network, which supports financial institutions in tokenising and settling securities without disclosing sensitive commercial data.

A warning has emerged that agent-based artificial intelligence is rapidly replacing highly skilled, PhD-level work in finance. Citadel CEO Ken Griffin said at a Stanford University talk that tasks once taking master’s and PhD staff weeks or months now finish in hours or days. The remarks drew more attention after Elon Musk shared a related video clip. Griffin said AI is targeting specialist roles, not general office jobs, while others say it is too early to conclude AI has already driven broad job losses.