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UK considers Bitcoin sale to plug budget gap

Chancellor Rachel Reeves is reportedly considering the sale of over £5 billion in seized Bitcoin to help reduce the UK’s growing fiscal deficit. The Treasury is under pressure to find alternative revenue sources amid soaring borrowing costs, high inflation, and sluggish growth.

The Bitcoin in question was mostly confiscated in 2018 during a crackdown on a Chinese Ponzi scheme. Since then, its value has risen dramatically, with initial holdings worth around £300 million now estimated at more than £5 billion.

The assets were linked to convicted money launderers, including Jian Wen, and are currently held by UK law enforcement.

While the sale could help avoid tax increases or spending cuts, critics warn of repeating past mistakes. Comparisons have already been drawn to Gordon Brown’s heavily criticised gold sales in the early 2000s, which resulted in billions in missed profits.

There are also unresolved legal concerns about returning funds to victims of the fraud.

Some observers argue the UK should consider holding the Bitcoin as a strategic reserve, in line with countries like El Salvador. Analysts note that the US also sold off seized Bitcoin from 2014 to 2021, missing out on a potential $21 billion gain.

If the UK follows through with the sale, many believe it could prove to be one of the most short-sighted fiscal moves in recent history.

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DuckDuckGo adds new tool to block AI-generated images from search results

Privacy-focused search engine DuckDuckGo has launched a new feature that allows users to filter out AI-generated images from search results.

Although the company admits the tool is not perfect and may miss some content, it claims it will significantly reduce the number of synthetic images users encounter.

The new filter uses open-source blocklists, including a more aggressive ‘nuclear’ option, sourced from tools like uBlock Origin and uBlacklist.

Users can access the setting via the Images tab after performing a search or use a dedicated link — noai.duckduckgo.com — which keeps the filter always on and also disables AI summaries and the browser’s chatbot.

The update responds to growing frustration among internet users. Platforms like X and Reddit have seen complaints about AI content flooding search results.

In one example, users searching for ‘baby peacock’ reported seeing just as many or more AI images than real ones, making it harder to distinguish between fake and authentic content.

DuckDuckGo isn’t alone in trying to tackle unwanted AI material. In 2024, Hiya launched a Chrome extension aimed at spotting deepfake audio across major platforms.

Microsoft’s Bing has also partnered with groups like StopNCII to remove explicit synthetic media from its results, showing that the fight against AI content saturation is becoming a broader industry trend.

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GENIUS Act signed as stablecoin regulation divides opinion

President Donald Trump has officially signed the GENIUS Act into law, marking a historic step in establishing a legal framework for stablecoins in the US. The act, passed with bipartisan support on 18 July, introduces the first rules for the $250 billion stablecoin market.

While Trump hailed the bill’s passage as a major achievement, backlash has emerged from both politicians and crypto insiders. Republican Representative Marjorie Taylor Greene condemned the bill, arguing it could secretly enable the rollout of a central bank digital currency (CBDC).

She warned that stablecoins under state control may function like a surveillance tool and criticised the absence of a clause banning CBDCs from the legislation.

Outside Capitol Hill, concerns were echoed by prominent Bitcoin advocate Justin Bechler, who likened the act to a covert power grab by central authorities. He claimed that fully compliant, state-enforced stablecoins effectively amount to CBDCs in practice.

Jean Rausis of SmarDex also described the bill as a ‘CBDC trojan horse’.

However, some believe the criticism is misplaced. Journalist Eleanor Terrett noted that the GENIUS Act includes language that prohibits the Federal Reserve from launching a retail CBDC.

Senator Tim Scott supported this view, stating the act does not expand the Fed’s powers in any direction resembling a digital currency for the public.

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Mastercard expands crypto partnerships after stablecoin law

The passage of the GENIUS Act in July has brought renewed focus on the relationship between digital asset firms and traditional financial institutions. Mastercard signalled readiness for a new era in digital assets, highlighting efforts to integrate stablecoins with conventional payment systems.

Mastercard’s collaboration with blockchain firms such as Ripple, Consensys, and Fireblocks was highlighted in a presentation shared by crypto researcher SMQKE.

The slide underscored Mastercard’s involvement in central bank digital currency (CBDC) initiatives alongside Visa and other partners, reflecting a commitment to making digital currencies as easy to use as cash.

Ripple’s presence in Mastercard’s network indicates its rising importance in regulated, institutional-grade solutions. Known for its work on real-time cross-border settlements, Ripple is well placed to benefit from the clearer regulatory landscape established by the GENIUS Act.

The legislative certainty encourages more traditional finance players and crypto firms to form lasting partnerships and expand compliant stablecoin applications.

The new law defines who can issue stablecoins and under what conditions, providing financial institutions with confidence to explore innovative payment models.

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Isambard-AI launch brings Britain closer to AI breakthroughs

The UK’s most powerful AI supercomputer, Isambard-AI, has officially launched in Bristol. Developed with HPE and NVIDIA, the £225 million system marks a major step in national research capability.

It can compute in one second what the global population would take 80 years to process. Housed at the National Composites Centre, it aims to drive breakthroughs in healthcare, robotics, climate science and more.

Built by the University of Bristol’s Centre for Supercomputing, the machine is part of the UK Government’s AI Research Resource (AIRR) and was launched by Science Secretary Peter Kyle.

Alongside the Dawn supercomputer in Cambridge, Isambard-AI will deliver 23 AI ExaFLOPs — equal to the UK population working non-stop for 85,000 years. It is 100,000 times faster than an average laptop and supports drug discovery, personalised medicine and advanced data analysis.

Powered by 5,400 Nvidia GH200 Grace Hopper Superchips and HPE’s Cray EX platform, it is among the greenest supercomputers globally, running on zero-carbon electricity and using direct liquid cooling to cut energy use by up to 90%.

Plans are underway to reuse its waste heat for nearby homes and businesses. Its sustainable design cuts emissions by 72% versus traditional builds.

The University of Bristol, chosen for its AI and HPC expertise, also offers a government-backed master’s through the Sparck AI scholarship. Vice-Chancellor Professor Evelyn Welch called the launch a milestone for British AI.

Researchers are already using Isambard-AI to analyse data from wearable cameras for assisted living support, and to scan MRI data to speed up cancer detection and treatment planning.

Other teams are modelling disease-related proteins and using AI to detect illness in dairy cattle by monitoring herd behaviour — showing the system’s broad real-world impact.

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Drug‑testing firm exposes 748,000 records in breach

In a massive data breach revealed in July 2025, the Texas Alcohol & Drug Testing Service (TADTS) admitted hackers gained access to sensitive information belonging to approximately 748,763 individuals.

Attackers remained inside the network for five days in July 2024 before detection, later leaking hundreds of gigabytes of data via the BianLian ransomware group.

Exposed records include a dangerous mix of personal and financial data—names, Social Security and passport numbers, driver’s licence and bank account details, biometric information, health‑insurance files and login credentials.

The breadth of this data presents a significant risk of identity theft and financial fraud.

Despite identifying the breach shortly after, TADTS delayed notifying those affected until July 2025 and provided no credit monitoring or identity theft services.

The company is now under classic action scrutiny, with law firms investigating its response and breach notification delays.

Security experts warn that the extended timeline and broad data exposure could lead to scams, account takeovers and sustained damage to victims.

Affected individuals are urged to monitor statements, access free credit reports, and remain alert for suspicious activity.

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Salt Typhoon targets routers in sweeping campaign

Since early 2025, the Chinese-linked hacking group Salt Typhoon has aggressively targeted telecom infrastructure worldwide, compromising routers, switches and edge devices used by clients of major operators such as Comcast, MTN and LG Uplus.

Exploiting known but unpatched vulnerabilities, attackers gained persistent access to these network devices, potentially enabling further intrusions into core telecom systems.

The pattern suggests a strategic shift: the group broadly sweeps telecom infrastructure to establish ready-made access across critical communication channels.

Affected providers emphasised that only client-owned hardware was breached and confirmed no internal networks were compromised, but the campaign raises deeper concerns.

Experts warn that such indiscriminate telecommunications targeting could threaten data security and disrupt essential services, revealing a long-term cyber‑espionage strategy.

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Meta lures AI leaders as Apple faces instability

Meta has hired two senior AI researchers from Apple, Mark Lee and Tom Gunter, as part of its ongoing effort to attract top talent in AI, according to Bloomberg.

Instead of staying within Apple’s ranks, both experts have joined Meta’s Superintelligence Labs, following Ruoming Pang, Apple’s former head of large language model development, whom Meta recently secured with a reported compensation package worth over $200 million.

Gunter, once a distinguished engineer at Apple, briefly worked for another AI firm before accepting Meta’s offer.

The moves reflect increasing instability inside Apple’s AI division, where leadership is reportedly exploring partnerships with external providers like OpenAI to power future Siri features rather than relying solely on in-house solutions.

Meta’s aggressive hiring strategy comes as CEO Mark Zuckerberg prioritises AI development, pledging substantial investment in talent and computing power to rival companies such as OpenAI and Google.

Some Apple employees have been presented with counteroffers, but these reportedly fail to match the scale of Meta’s packages.

Instead of slowing down, Meta appears determined to solidify its position as a leader in AI research, continuing to lure key experts away from competitors while Apple faces challenges retaining its top engineers.

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Crypto crime surges to record levels in 2025

The cryptocurrency industry faces a record-breaking year for theft in 2025, with losses surpassing $2.17 billion by mid-July, according to a Chainalysis report. The amount stolen so far has surpassed the total for all of 2024, highlighting a concerning increase in digital asset crime.

A large proportion, around $1.5 billion, stems from the North Korea-linked Bybit hack, which accounts for nearly 70% of thefts targeting crypto services this year.

While centralised exchanges remain prime targets, personal wallets now represent almost a quarter of stolen funds. The report highlights a rise in violent ‘wrench attacks,’ where criminals coerce Bitcoin holders into revealing private keys through threats or physical force.

Kidnappings of crypto executives and family members have also increased, with 2025 expected to double the number of such physical assaults compared to previous years.

Sophistication in laundering stolen crypto varies depending on the target. Hackers focusing on exchanges use advanced techniques like chain-hopping and mixers to obscure transactions.

Conversely, attackers targeting personal wallets often employ simpler methods. Interestingly, criminals are holding stolen assets longer and are willing to pay fees up to 14.5 times higher than average to swiftly move illicit funds and avoid detection.

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Perplexity AI valued at $18 billion after new $100 million raise

AI startup Perplexity AI has raised $100 million in new funding, pushing its valuation to $18 billion, Bloomberg has reported. The deal reflects growing investor interest in AI tools amid the continued rise of chatbots and AI-powered search agents.

The funding follows a previous round from earlier in the year, which valued the company at $14 billion. Perplexity’s rapid valuation growth highlights the pace at which leading AI startups are expanding in the current market climate.

According to The Wall Street Journal, Perplexity was previously in advanced talks to raise $500 million at the earlier valuation. Venture capital firm Accel had been expected to lead that round. Other reports in March suggested that Perplexity aimed to raise as much as $1 billion.

The company has been making moves to challenge major tech incumbents. Just last week, it launched a new AI-powered web browser called ‘Comet’. The tool is designed to compete with Google Chrome by integrating advanced AI search functionality directly into browsing.

Perplexity is backed by Nvidia and is positioning itself at the intersection of search, generative AI, and user experience. Industry observers view its fast-growing valuation as a sign of heightened investor confidence in AI-native platforms.

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