Two wallets tied to the controversial Libra meme coin team have been frozen. Nearly $58 million in USDC stablecoins on the Solana blockchain are now locked.
The freeze on Solscan affects accounts holding $44.59 million and $13.06 million in USDC, a stablecoin issued by Circle. Major stablecoin issuers like Circle have the authority to blacklist addresses in cases of fraud or legal disputes.
The freeze follows a temporary restraining order from a US federal court, requested by Burwick Law amid ongoing litigation. Argentina’s justice department has also been linked to the legal action, connected to the Libra token promoted by Argentine President Javier Milei.
The token’s rapid rise and fall earlier this year sparked accusations of a pump-and-dump scheme.
Despite the legal troubles, Circle has recently filed for an initial public offering on the New York Stock Exchange, aiming for a $6.7 billion valuation. Meanwhile, Argentina’s task force investigating the scandal was disbanded last week.
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Nvidia CEO Jensen Huang has raised concerns that US export restrictions are accelerating the growth of Chinese AI firms, making them more competitive. In a recent interview, Huang highlighted that companies like Huawei — long blacklisted by the US — have become ‘formidable’ rivals.
The restrictions have hit Nvidia hard, with the company projecting an $8 billion revenue loss this quarter due to the limited access to the Chinese market, historically its largest for chips. The Biden administration’s AI diffusion rule, aimed at controlling the spread of advanced AI technologies, had already drawn criticism from Huang before being partially rolled back by the Trump administration in May.
Yet, Nvidia still faces tough restrictions, including a ban on selling even its downgraded H20 chip to China. The company was recently notified that it would need a special license to export the chip, leaving it with no viable alternative for the Chinese market.
Huang warned that efforts to keep cutting-edge AI tech out of China have largely backfired, as Chinese firms are finding workarounds and quickly catching up.
‘They’re doubling or quadrupling capabilities every year,’ he noted, stressing that the performance of Huawei’s latest AI chip now rivals Nvidia’s once-leading H200.
Despite Nvidia’s strong recent performance, Huang emphasised the long-term importance of re-engaging with China, home to the world’s largest community of AI researchers. He urged US policymakers to reconsider their approach, advocating for broader access to American AI technology to maintain leadership and influence in the global AI ecosystem.
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Victoria’s Secret’s website has remained offline for three days due to a security incident the company has yet to fully explain. A spokesperson confirmed steps are being taken to address the issue, saying external experts have been called in and some in-store systems were also taken down as a precaution.
Instead of revealing specific details, the retailer has left users with only a holding message on a pink background. It has declined to comment on whether ransomware is involved, when the disruption began, or if law enforcement has been contacted.
The firm’s physical stores continue operating as normal, and payment systems are unaffected, suggesting the breach has hit other digital infrastructure. Still, the shutdown has rattled investors—shares fell nearly seven percent on Wednesday.
With online sales accounting for a third of Victoria’s Secret’s $6 billion annual revenue, the pressure to resolve the situation is high.
The timing has raised eyebrows, as cybercriminals often strike during public holidays like Memorial Day, when IT teams are short-staffed. The attack follows a worrying trend among retailers.
UK giants such as Harrods, Marks & Spencer, and the Co-op have all suffered recent breaches. Experts warn that US chains are becoming the next major targets, with threat groups like Scattered Spider shifting their focus across the Atlantic.
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Pakistan is moving ahead with plans to establish a national Bitcoin reserve as part of a broader digital asset strategy. Bilal Bin Saqib, head of the Pakistan Crypto Council, announced the move at the Bitcoin 2025 conference in Las Vegas.
He emphasised that the government’s intention is long term and not driven by market speculation. He stated that once acquired, the Bitcoin would never be sold.
The government plans to launch a national Bitcoin wallet and adopt blockchain technologies. The reserve’s size is unclear, but the move follows the US example and shows Pakistan’s growing trust in blockchain.
Officials are also preparing to allocate 2,000 megawatts of surplus electricity for Bitcoin mining and AI data centres. The aim is to boost jobs, modernise the power sector, and attract investment.
In parallel, the country is creating the Pakistan Digital Assets Authority (PDAA) to regulate the crypto sector. The agency will regulate exchanges and token platforms and develop frameworks for DeFi and blockchain-based public finance.
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Google Drive is gaining a new AI-powered tool that allows Workspace users to summarise and interact with video content using Gemini, Google’s generative AI assistant.
Instead of manually skipping through videos, users can now click the ‘Ask Gemini’ button to get instant summaries, key highlights, or action items from uploaded recordings.
The tool builds on Gemini 2.5 Pro’s strong video analysis capabilities, which recently scored 84.8% on the VideoMME benchmark. Gemini’s side panel, already used for summarising documents and folders, can now handle natural language prompts like ‘Summarise this video’ or ‘List key points from this meeting’.
However, the feature only works in English and requires captions to be enabled by the Workspace admin.
Google is rolling out the feature across various Workspace plans, including Business Standard and Enterprise tiers, with access available through Drive’s overlay preview or a new browser tab.
Instead of switching between windows or scrubbing through videos, users can now save time by letting Gemini handle the heavy lifting.
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Microsoft has begun rolling out the beta version of its new AI-powered tool, Copilot for Gaming, designed to enhance the gaming experience through personalised assistance. Available now in the Xbox app for iOS and Android, the feature lets users ask game-related questions and receive tailored responses based on their gaming history, achievements, and account data.
The AI assistant can provide tips to improve a gamer’s score, suggest games based on user preferences, and answer account-specific questions like subscription details or recent in-game milestones. It operates on a second screen to avoid disrupting gameplay and uses player activity and Bing search data to craft responses.
Initially available in English for players aged 18 and older, the beta spans over 50 countries, including the US, Canada, Brazil, Serbia, and Japan. Microsoft says more features are on the way, including personalised coaching and deeper in-game support, with plans to expand the rollout to additional regions in the future.
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US Vice President J.D. Vance stressed the importance of political involvement for the crypto community during his speech at the Bitcoin 2025 conference in Las Vegas.
He warned policymakers may ignore Bitcoin without ongoing activism despite its growing importance.
Vance praised the crypto community’s impact and urged continued momentum after the 2024 elections. He stressed that political decisions will shape Bitcoin’s future, so the industry must stay engaged with policymakers.
Highlighting Bitcoin’s potential strategic value, Vance referenced the government-backed Bitcoin Reserve launched under former President Donald Trump.
The US stance contrasts with China’s rejection of Bitcoin. J.D. Vance said that America should deepen its commitment to the cryptocurrency to secure a competitive edge globally.
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Elon Musk’s AI company, xAI, is partnering with Telegram to bring its AI assistant, Grok, to the messaging platform’s more than one billion users.
Telegram founder Pavel Durov announced that Grok will be integrated into Telegram’s apps and distributed directly through the service.
Instead of a simple tech integration, the arrangement includes a significant financial deal. Telegram is set to receive $300 million in cash and equity from xAI, along with half of the revenue from any xAI subscriptions sold through the platform. The agreement is expected to last one year.
The move mirrors Meta’s recent rollout of AI features on WhatsApp, which drew criticism from users concerned about the changing nature of private messaging.
Analysts like Hanna Kahlert of Midia Research argue that users still prefer using social platforms to connect with friends, and that adding AI tools could erode trust and shift focus away from what made these apps popular in the first place.
The partnership also links two controversial tech figures. Durov was arrested in France in 2024 over allegations that Telegram failed to curb criminal activity, though he denies obstructing law enforcement.
Meanwhile, Musk has been pushing into AI development after falling out with OpenAI, and is using xAI to rival industry giants. In March, he valued xAI at $80 billion after acquiring X, formerly known as Twitter.
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The deal enables Salesforce products—including customer-management tools, Agentforce AI assistants, and Data Cloud services—to run directly on Google’s infrastructure.
The partnership reflects a broader effort by both companies to strengthen their position in the growing generative AI market.
While Microsoft currently dominates this space by offering AI services to a significant portion of Fortune 500 firms, Salesforce and Google are seeking to expand their reach in AI-powered productivity and customer experience solutions.
By deepening integration with Google Cloud, Salesforce aims to give its enterprise customers access to more scalable and efficient AI services. The collaboration positions both firms to compete more aggressively with Microsoft, particularly in AI-driven business software and cloud solutions.
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Ripple has urged US regulators to define when a digital asset should no longer be considered a security. In a new letter to the SEC’s Crypto Task Force, the firm responded to questions raised by Commissioner Hester Peirce on asset classification.
The move seeks greater clarity for market participants amid increasing regulatory scrutiny.
The company referenced its 2023 legal victory, where a court ruled XRP was not inherently a security. Ripple also cited a 2022 legal paper. The paper claims most fungible tokens on secondary markets lack ongoing obligations between buyers and issuers.
It proposed a two-part test to determine when a token becomes independent from its original investment contract.
Ripple says a crypto asset stays a security only if promises remain and holders have enforceable rights. It warned against vague standards like ‘sufficient decentralisation,’ backing clearer criteria such as trading history and absence of centralised control.
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