Bitcoin scholarships launched at Lomond School

Lomond School has introduced the Satoshi Scholarships, offering 42 scholarships for students passionate about economics and innovation. These cover the prestigious International Baccalaureate (IB) programme, including 21 two-year day and 21 two-year boarding scholarships.

The initiative is backed by economist Dr. Saifedean Ammous, who will help develop a new Austrian economics curriculum. The curriculum will focus on sound money, decentralised finance, and the ethics of financial liberty.

Dr. Ammous expressed his enthusiasm for the project, emphasising the importance of teaching future generations about sound economics. In addition, students will engage with Bitcoin mining hardware and gain practical knowledge of monetary systems.

Lomond School is now seeking 43 founding benefactors to support the scholarships and help shape the next generation of economic thinkers. Interested parties can learn more by contacting the school directly.

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Netflix introduces AI chatbot to help you pick what to watch

Netflix is trialling an AI chatbot inside its iOS app, offering a new way for users to find content by simply typing natural phrases instead of relying on standard searches. In this small, opt-in beta, users might say things like ‘I want something funny and upbeat; to receive tailored recommendations.

The company believes the AI chatbot could soon become a core part of its app on both iOS and Android, and perhaps even land on TVs in future.

Alongside this, Netflix is reshaping the user experience by surfacing helpful labels like ‘Emmy Award Winner’ and ‘#1 in TV Shows’ to help viewers choose faster instead of scrolling endlessly.

Search and My List are moving to the top of TV screens for better visibility, and the homepage is getting a cleaner, more modern design.

Netflix says recommendations will also shift dynamically based on a viewer’s mood or interests, although it hasn’t explained exactly how this will work.

On mobile, Netflix plans to roll out a vertical feed of show and movie clips in the coming weeks. You’ll be able to tap to watch, save, or share immediately—turning content discovery into a quick and interactive experience instead of a chore.

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USD1 stablecoin becomes seventh-largest in just two months

The USD1 stablecoin, backed by Donald Trump’s World Liberty Financial (WLFI), has quickly become the seventh-largest stablecoin.

Launched just two months ago, it has grown from a market cap of $128 million to over $2 billion. The surge was boosted by Eric Trump’s announcement that MGX would use USD1 for a $2 billion investment in Binance.

Most of USD1’s issuance is on Binance’s BNB Chain, accounting for over 99% of its supply. A smaller portion is on Ethereum.

In late April, the coin’s market cap spiked 1,540%, growing from $128 million to $2.1 billion. The rapid rise led centralised exchanges, including HTX, to list USD1, with zero-fee withdrawals on the BEP-20 network.

Reports suggest that around 90% of USD1 investors are from outside the US, particularly Europe, Asia, and Latin America.

The coin’s growth aligns with Trump’s pro-stablecoin agenda, outlined in his January executive order to strengthen US leadership in digital financial technologies.

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Mistral AI unveils enterprise tools to rival Big Tech

French startup Mistral AI is making waves with the launch of its Medium 3 model family and a business chatbot called Le Chat Enterprise, aiming to disrupt a market long dominated by OpenAI, Google, Microsoft, and Anthropic.

The company claims its new models outperform rivals while needing fewer computational resources, giving businesses a more efficient and affordable AI alternative.

The Medium 3 family consists of Small, Standard and Large variants, with the Standard version described as the ideal balance between power and efficiency.

Capable of handling context windows up to 128,000 tokens, these models can process long documents and complex inputs without the costs typically associated with top-tier AI systems.

Meanwhile, Le Chat Enterprise offers companies a privacy-focused, ready-to-deploy chatbot tailored for business use instead of consumer settings.

Backed by €385 million in funding and a team of former DeepMind and Meta researchers, Mistral continues to set itself apart by combining open-source releases with commercial offerings.

If its performance claims hold in independent benchmarks, Mistral may force the AI industry to compete not only on raw capability but also on value—a shift that could benefit enterprises seeking practical, cost-effective AI solutions instead of hype-driven tools.

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US banks allowed to manage crypto on customers’ behalf

US banks are now allowed to manage crypto assets on behalf of their customers. The US Office of the Comptroller of the Currency (OCC) confirmed that banks can buy, sell, and hold crypto in custody. They can also outsource certain services, such as custody and execution, to third parties.

Acting Comptroller Rodney Hood stated that financial institutions could also provide tax reporting, record-keeping, and sub-custody services. These services must comply with legal and risk management guidelines.

The decision marks a shift towards integrating crypto into traditional banking systems, with over 50 million Americans now holding digital assets.

Industry experts have welcomed the OCC’s move. Katherine Kirkpatrick Bos of StarkWare said it signals a shift in the OCC’s stance, while Coinbase’s Faryar Shirzad praised the regulatory clarity.

The change comes amid the Trump administration’s more crypto-friendly approach, which includes reversing previous restrictions on banks’ crypto activities.

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G7 to address North Korea’s role in major crypto hacks

Leaders of the Group of Seven (G7) nations are set to tackle North Korea’s ongoing cyber threats, particularly its involvement in large-scale cryptocurrency hacks.

The agenda will reportedly focus on the regime’s use of stolen crypto funds to finance weapons programmes. The issue has raised international concern over global security risks.

The summit, hosted by Canadian Prime Minister Mark Carney from 15 to 17 June in Alberta, is expected to address geopolitical challenges, including North Korea’s tightening alliance with Russia. Such ties have further complicated attribution of attacks and enforcement of sanctions, experts warn.

Investigations have linked North Korean hackers, notably the Lazarus Group, to major crypto heists. These include the $622 million Axie Infinity breach and February’s $1.4 billion Bybit attack. Analysts believe other cyber units are also active, making digital asset protection a growing priority.

The G7, comprising France, Germany, Italy, Japan, the UK, the US and Canada, aims to strengthen coordination against cybercrime. It also seeks to limit the regime’s ability to exploit the crypto ecosystem for hostile purposes.

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Irish startup launches first silicon quantum computer

An Irish startup, Equal1, has unveiled the world’s first silicon-based quantum computer designed to integrate smoothly into existing data centres instead of requiring entirely new infrastructure.

Named Bell-1, the compact six-qubit device is built to slot directly into standard server racks, weighing just over 200 kilograms and roughly matching the size of a conventional GPU server.

Its standout feature is a self-contained cooling unit that maintains a temperature of 0.3 kelvin without external cryogenics, making it far more practical to deploy than traditional quantum machines.

Bell-1 relies on silicon-based spin qubits instead of more common trapped-ion or superconducting qubits, allowing it to take advantage of existing semiconductor fabrication methods. This choice results in smaller, more scalable components and paves the way for greater qubit density.

The UnityQ chip at the system’s core combines quantum processor units (QPUs), Arm CPUs, and neural processing units (NPUs), eliminating the need for complex coordination between classical and quantum systems — it can be plugged into a power outlet and used like conventional hardware.

The platform includes built-in error correction and AI-powered controls developed in partnership with Arm, helping reduce errors and increase operational speed. Even though this first-generation chip supports just six qubits, Equal1 plans to scale up future versions.

Instead of replacing the entire system, early adopters will be able to upgrade existing installations, ensuring long-term relevance and smoother adoption of more advanced models.

Equal1’s breakthrough builds upon performance records it set in late 2024, where its silicon qubit arrays demonstrated the highest gate fidelity and speed ever recorded.

Bell-1 marks a significant leap forward by offering quantum capabilities without the barriers typically associated with quantum hardware, bringing the technology closer to practical use in traditional computing environments.

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Bitcoin advisor to Trump launches new investment company

David Bailey, the CEO of BTC Inc. and a senior crypto adviser to Donald Trump, has raised $300 million to launch a publicly traded Bitcoin investment firm.

The venture, called Nakamoto, is named after Bitcoin’s mysterious creator and will focus on acquiring and holding the cryptocurrency.

The funding includes $200 million in equity and $100 million in convertible debt. Plans for a merger with an already-listed Nasdaq firm are in place.

An official announcement is expected next week, and the public listing is likely to follow this summer. Nakamoto also plans to use Bitcoin as capital to invest in businesses worldwide, including Brazil, Thailand, and South Africa.

The approach mirrors moves by other crypto investment giants such as Michael Saylor’s Strategy and Jack Mallers’ Twenty One. The firm positions itself as offering institutional credibility with the potential for strong growth, appealing to investors seeking direct exposure to Bitcoin through the stock market.

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Google adds AI text simplification to iOS app

Google has launched a new ‘Simplify’ feature for its iOS app that uses AI to clarify complex or technical text. By selecting any text on a web page and tapping the Simplify icon, users receive an easier-to-understand version without leaving the page.

The tool uses AI, Google’s Gemini model and a prompt refinement method to retain key details while improving readability.

The feature aims to help users better understand difficult topics and maintain engagement within Google’s ecosystem.

Google says testing showed that users retained more information when using the simplified text. Google highlights the importance of accuracy, stressing that Simplify rewrites must preserve the original meaning without introducing errors.

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FutureHouse unveils Finch AI tool for biology research

FutureHouse, a nonprofit backed by Eric Schmidt, has introduced Finch, an AI tool designed to assist biological research. Finch analyses biology data and research papers, generating figures and insights much like a first-year graduate student might.

FutureHouse aims to automate aspects of scientific discovery, though no significant breakthroughs have yet been reported.

Despite optimism from tech leaders, many scientists doubt AI’s current value in guiding complex research.

Finch, while promising, can still make errors, prompting FutureHouse to recruit bioinformaticians and computational biologists to help refine the tool. The platform remains in closed beta as development continues.

The biotech AI market is expanding, yet previous ventures have suffered clinical trial setbacks. Finch represents a cautious step forward, balancing potential with careful human oversight. Interested experts are invited to participate in its ongoing evaluation.

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