Digital business models Archives | Page 315 of 568

Coinbase brings perpetual futures to US users

Coinbase has launched perpetual futures trading for eligible users in the United States, marking a major step in the platform’s regulated offerings. Starting 21 July, traders can access nano Bitcoin (BTC-PERP) and nano Ether (ETH-PERP) perpetual futures via their Coinbase Financial Markets accounts.

The offering follows Coinbase’s approval to operate as a futures commission merchant under the Commodity Futures Trading Commission. Perpetual futures, accounting for nearly 90% of crypto derivatives volume, were previously inaccessible to US users due to regulatory constraints.

These contracts differ from traditional futures by offering five-year expiration terms and no monthly rollovers. Users can trade with up to 10x leverage and enjoy low fees from 0.02%.

While this boosts capital efficiency, it also increases potential risk, especially during volatile market conditions.

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NASA hacks Jupiter probe camera to recover vital images

NASA engineers have revealed they remotely repaired a failing camera aboard the Juno spacecraft orbiting Jupiter using a bold heating technique known as annealing.

Instead of replacing the hardware, which was impossible given the 595 million kilometre distance from Earth, the team deliberately overheated the camera’s internals to reverse suspected radiation damage.

JunoCam, designed to last only eight orbits, surprisingly survived over 45 before image quality deteriorated on the 47th. Engineers suspected a voltage regulator fault and chose to heat the camera to 77°F, altering the silicon at a microscopic level.

The risky fix temporarily worked, but the issue resurfaced, prompting a second annealing at maximum heat just before a close flyby of Jupiter’s moon Io in late 2023.

The experiment’s success encouraged further tests on other Juno instruments, offering valuable insights into spacecraft resilience. Although NASA didn’t confirm whether these follow-ups succeeded, the effort highlighted the increasing need for in-situ repairs as missions explore deeper into space.

While JunoCam resumed high-quality imaging up to orbit 74, new signs of degradation have since appeared. NASA hasn’t yet confirmed whether another fix is planned or if the camera’s mission has ended.

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ChatGPT evolves from chatbot to digital co-worker

OpenAI has launched a powerful multi-function agent inside ChatGPT, transforming the platform from a conversational AI into a dynamic digital assistant capable of executing multi-step tasks.

Rather than waiting for repeated commands, the agent acts independently — scheduling meetings, drafting emails, summarising documents, and managing workflows with minimal input.

The development marks a shift in how users interact with AI. Instead of merely assisting, ChatGPT now understands broader intent, remembers context, and completes tasks autonomously.

Professionals and individuals using ChatGPT online can now treat the system as a digital co-worker, helping automate complex tasks without bouncing between different tools.

The integration reflects OpenAI’s long-term vision of building AI that aligns with real-world needs. Compared to single-purpose tools like GPTZero or NoteGPT, the ChatGPT agent analyses, summarises, and initiates next steps.

It’s part of a broader trend, where AI is no longer just a support tool but a full productivity engine.

For businesses adopting ChatGPT professional accounts, the rollout offers immediate value. It reduces manual effort, streamlines enterprise operations, and adapts to user habits over time.

As AI continues to embed itself into company infrastructure, the new agent from OpenAI signals a future where human–AI collaboration becomes the norm, not the exception.

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Louis Vuitton Australia confirms customer data breach after cyberattack

Louis Vuitton has admitted to a significant data breach in Australia, revealing that an unauthorised third party accessed its internal systems and stole sensitive client details.

The breach, first detected on 2 July, included names, contact information, birthdates, and shopping preferences — though no passwords or financial data were taken.

The luxury retailer emailed affected customers nearly three weeks later, urging them to stay alert for phishing, scam calls, or suspicious texts.

While Louis Vuitton claims it acted quickly to contain the breach and block further access, questions remain about the delay in informing customers and the number of individuals affected.

Authorities have been notified, and cybersecurity specialists are now investigating. The incident adds to a growing list of cyberattacks on major Australian companies, prompting experts to call for stronger data protection laws and the right to demand deletion of personal information from corporate databases.

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Netflix uses AI to boost creativity and cut costs

Netflix co-CEO Ted Sarandos has said generative AI is used to boost creativity, not just reduce production costs. A key example was seen in the Argentine series El Eternauta, where AI helped complete complex visual effects far quicker than traditional methods.

The streaming giant’s production team used AI to render a building collapse scene in Buenos Aires, completing the sequence ten times faster and more economically. Sarandos described the outcome as proof that AI supports real creators with better tools.

Netflix also applies generative AI in areas beyond filmmaking, including personalisation, search, and its advertising ecosystem. As part of these innovations, interactive adverts are expected to launch later in 2025.

During the second quarter, Netflix reported $11.1 billion in revenue and $3.1 billion in profit. Users streamed over 95 billion hours of content in the year’s first half, marking a slight rise from 2024.

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M&S Sparks scheme returns after cyber attack

Marks & Spencer has fully reinstated its Sparks loyalty programme following a damaging cyberattack that disrupted operations earlier this year. The retailer confirmed that online services are back and customers can access offers, discounts, and rewards again.

In April, a cyber breach forced M&S to suspend parts of its IT system and halt Sparks communications. Customers had raised concerns about missing benefits, prompting the company to promise a full recovery of its loyalty platform.

M&S has introduced new Sparks perks to thank users for their patience, including enhanced birthday rewards and complimentary coffees. Staff will also receive a temporary discount boost to 30 percent on selected items this weekend.

Marketing director Sharry Cramond praised staff efforts and customer support during the disruption, calling the recovery a team effort. Meanwhile, according to the UK National Crime Agency, four individuals suspected of involvement in cyber attacks against M&S and other retailers have been released on bail.

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Dutch publishers support ethical training of AI model

Dutch news publishers have partnered with research institute TNO to develop GPT-NL, a homegrown AI language model trained on legally obtained Dutch data.

The project marks the first time globally that private media outlets actively contribute content to shape a national AI system.

Over 30 national and regional publishers from NDP Nieuwsmedia and news agency ANP are sharing archived articles to double the volume of high-quality training material. The initiative aims to establish ethical standards in AI by ensuring copyright is respected and contributors are compensated.

GPT-NL is designed to support tasks such as summarisation and information extraction, and follows European legal frameworks like the AI Act. Strict safeguards will prevent content from being extracted or reused without authorisation when the model is released.

The model has access to over 20 billion Dutch-language tokens, offering a diverse and robust foundation for its training. It is a non-profit collaboration between TNO, NFI, and SURF, intended as a responsible alternative to large international AI systems.

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Co-op confirms massive data breach as retail cyberattacks surge

All 6.5 million members of the Co-op had their personal data compromised in a cyberattack carried out on 30 April, the company’s chief executive has confirmed.

Shirine Khoury-Haq said the breach felt ‘personal’ after seeing the toll it took on IT teams fighting off the intrusion. She spoke in her first interview since the breach, broadcast on BBC Breakfast.

Initial statements from the Co-op described the incident as having only a ‘small impact’ on internal systems, including call centres and back-office operations.

Alleged hackers soon contacted media outlets and claimed to have accessed both employee and customer data, prompting the company to update its assessment.

The Co-op later admitted that data belonging to a ‘significant number’ of current and former members had been stolen. Exposed information included names, addresses, and contact details, though no payment data was compromised.

Restoration efforts are still ongoing as the company works to rebuild affected back-end systems. In some locations, operational disruption led to empty shelves and prolonged outages.

Khoury-Haq recalled meeting employees during the remediation phase and said she was ‘incredibly sorry’ for the incident. ‘I will never forget the looks on their faces,’ she said.

The attackers’ movements were closely tracked. ‘We were able to monitor every mouse click,’ Khoury-Haq added, noting that this helped authorities in their investigation.

The company reportedly disconnected parts of its network in time to prevent ransomware deployment, though not in time to avoid significant damage. Police said four individuals were arrested earlier this month in connection with the Co-op breach and related retail incidents. All have been released on bail.

Marks & Spencer and Harrods were also hit by cyberattacks in early 2025, with M&S still restoring affected systems. Researchers believe the same threat actor is responsible for all three attacks.

The group, identified as Scattered Spider, has previously disrupted other high-profile targets, including major US casinos in 2023.

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5G market grows as GCT begins chipset rollout

GCT Semiconductor Holding, Inc. has begun delivering samples of its latest 5G chipsets to lead customers, including Airspan Networks and Orbic. The company offers chip and module formats to meet specific testing needs.

Initial shipments aim to fulfil early demand, after which GCT will work with clients to assess performance and establish production requirements. The firm is well positioned to scale with a robust supply chain and deep experience in high-speed connectivity.

The fabless semiconductor designer targets mid-tier 5G applications and plans to introduce a Verizon-certified module. GCT has said it remains focused on accelerating its role in the global 5G market.

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Fashion sector targeted again as Louis Vuitton confirms data breach

Louis Vuitton Hong Kong is under investigation after a data breach potentially exposed the personal information of around 419,000 customers, according to the South China Morning Post.

The company informed Hong Kong’s privacy watchdog on 17 July, more than a month after its French office first detected suspicious activity on 13 June. The Office of the Privacy Commissioner has now launched a formal inquiry.

Early findings suggest that compromised data includes names, passport numbers, birth dates, phone numbers, email addresses, physical addresses, purchase histories, and product preferences.

Although no complaints have been filed so far, the regulator is examining whether the reporting delay breached data protection rules and how the unauthorised access occurred. Louis Vuitton stated that it responded quickly with the assistance of external cybersecurity experts and confirmed that no payment details were involved.

The incident adds to a growing list of cyberattacks targeting fashion and retail brands in 2025. In May, fast fashion giant Shein confirmed a breach that affected customer support systems.

[Correction] Contrary to some reports, Puma was not affected by a ransomware attack in 2025. This claim appears to be inaccurate and is not corroborated by any verified public disclosures or statements by the company. Please disregard any previous mentions suggesting otherwise.

Security experts have warned that the sector remains a growing target due to high-value customer data and limited cyber defences. Louis Vuitton said it continues to upgrade its security systems and will notify affected individuals and regulators as the investigation continues.

‘We sincerely regret any concern or inconvenience this situation may cause,’ the company said in a statement.

[Dear readers, a previous version of this article highlighted incorrect information about a cyberattack on Puma. The information has been removed from our website, and we hereby apologise to Puma and our readers.]