Economic

Bitcoin breaks $118,000 as altcoins rally

Bitcoin surged to $118,245 early today, marking a 1.1% increase over 24 hours and an 8.7% rise over the past week. Both institutional and retail investors have maintained a strong interest, supporting Bitcoin’s steady upward trend.

Ethereum followed closely, trading near $3,160 with a 5.9% daily gain and a 20.1% weekly increase. Network activity and capital inflows contributed to Ethereum’s robust performance.

XRP stood out with a 26% weekly gain, reaching $2.93 amid high trading volumes exceeding $6 billion in 24 hours.

Other notable altcoins such as Cardano, Dogecoin, and Solana also posted solid weekly gains between 6.8% and 25.2%. Meanwhile, TRON showed steady growth, supported by consistent trading activity. The Lido Staked Ether token mirrored Ethereum’s rise, reflecting growing demand for liquid staking.

Among smaller tokens, Seraph led daily gains with a 53.3% increase, followed closely by Mamo and Renzo. The market showed broad strength, with major cryptocurrencies driving renewed investor confidence and speculative interest.

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Apple accused of blocking real browser competition on iOS

Developers and open web advocates say Apple continues to restrict rival browser engines on iOS, despite obligations under the EU’s Digital Markets Act. While Apple claims to allow competition, groups like Open Web Advocacy argue that technical and logistical hurdles still block real implementation.

The controversy centres on Apple’s refusal to allow developers to release region-specific browser versions or test new engines outside the EU. Developers must abandon global apps or persuade users to switch manually to new EU-only versions, creating friction and reducing reach.

Apple insists it upholds security and privacy standards built over 18 years and claims its new framework enables third-party browsers. However, critics say those browsers cannot be tested or deployed realistically without access for developers outside the EU.

The EU held a DMA compliance workshop in Brussels in June, during which tensions surfaced between Apple’s legal team and advocates. Apple says it is still transitioning and working with firms like Mozilla and Google on limited testing updates, but has offered no timeline for broader changes.

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El Salvador’s Bitcoin reserves surge past $760 million

El Salvador’s national Bitcoin stash has soared past $760 million following the latest price surge above $123,000, marking a major milestone in President Nayib Bukele’s crypto strategy. With more than 6,237 BTC in reserves, purchased at an average of $42,000, the country’s investment has nearly tripled in value.

President Bukele first made Bitcoin legal tender in 2021, enduring global backlash, internal debate, and a long bear market. Despite international pressure, including proposed US legislation and IMF disapproval, the country has continued adding to its Bitcoin reserves.

Some analysts view El Salvador’s gains as a potential model for other governments. Pranav Agarwal called El Salvador’s gains a strong case for sovereign crypto reserves, noting such strategies can pay off over several years.

Bitcoin’s continued climb is also attracting market attention, with analysts pointing to $124,000–$125,000 as the next target. For now, El Salvador’s bold move is reshaping the conversation around crypto and national finance.

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Online health search grows, but scepticism about AI stays high

Trust in traditional healthcare providers remains high, but Americans are increasingly turning to AI for health information, according to new data from the Annenberg Public Policy Centre (APPC).

While 90% of adults trust their personal health provider, nearly 8 in 10 say they are likely to look online for answers to health-related questions. The rise of the internet gave the public access to government health authorities such as the CDC, FDA, and NIH.

Although trust in these institutions dipped during the Covid-19 pandemic, confidence remains relatively high at 66%–68%. Generative AI tools are now becoming a third key source of health information.

AI-generated summaries — such as Google’s ‘AI Overviews‘ or Bing’s ‘Copilot Answers’ — appear prominently in search results.

Despite disclaimers that responses may contain mistakes, nearly two-thirds (63%) of online health searchers find these responses somewhat or very reliable. Around 31% report often or always finding the answers they need in the summaries.

Public attitudes towards AI in clinical settings remain more cautious. Nearly half (49%) of US adults say they are not comfortable with providers using AI tools instead of their own experience. About 36% express some level of comfort, while 41% believe providers are already using AI at least occasionally.

AI use is growing, but most online health seekers continue exploring beyond the initial summary. Two-thirds follow links to websites such as Mayo Clinic, WebMD, or non-profit organisations like the American Heart Association. Federal resources such as the CDC and NIH are also consulted.

Younger users are more likely to recognise and interact with AI summaries. Among those aged 18 to 49, between 69% and 75% have seen AI-generated content in search results, compared to just 49% of users over 65.

Despite high smartphone ownership (93%), only 59% of users track their health with apps. Among these, 52% are likely to share data with a provider, although 36% say they would not. Most respondents (80%) welcome prescription alerts from pharmacies.

The survey, fielded in April 2025 among 1,653 US adults, highlights growing reliance on AI for health information but also reveals concerns about its use in professional medical decision-making. APPC experts urge greater transparency and caution, especially for vulnerable users who may not understand the limitations of AI-generated content.

Director Kathleen Hall Jamieson warns that confusing AI-generated summaries with professional guidance could cause harm. Analyst Laura A. Gibson adds that outdated information may persist in AI platforms, reinforcing the need for user scepticism.

As the public turns to digital health tools, researchers recommend clearer policies, increased transparency, and greater diversity in AI development to ensure safe and inclusive outcomes.

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Google expands NotebookLM with curated content and mobile access

While Gemini often dominates attention in Google’s AI portfolio, other innovative tools deserve the spotlight. One standout is NotebookLM, a virtual research assistant that helps users organise and interact with complex information across various subjects.

NotebookLM creates structured notebooks from curated materials, allowing meaningful engagement with the content. It supports dynamic features, including summaries and transformation options like Audio Overview, making research tasks more intuitive and efficient.

According to Google, featured notebooks are built using information from respected authors, academic institutions, and trusted nonprofits. Current topics include Shakespeare, Yellowstone National Park and more, offering a wide spectrum of well-sourced material.

Featured notebooks function just like regular ones, with added editorial quality. Users can navigate, explore, and repurpose content in ways that support individual learning and project needs. Google has confirmed the collection will grow over time.

NotebookLM remains in early development, yet the tool already shows potential for transforming everyday research tasks. Google also plans tighter integration with its other productivity tools, including Docs and Slides.

The tool significantly reduces the effort traditionally required for academic or creative research. Structured data presentation, combined with interactive features, makes information easier to consume and act upon.

NotebookLM was initially released on desktop but is now also available as a mobile app. Users can download it via the Google Play Store to create notebooks, add content, and stay productive from anywhere.

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GPAI Code of Practice creates legal uncertainty for non-signatories

Lawyers at William Fry say the EU’s final Code of Practice for general-purpose AI (GPAI) models leaves key questions unanswered. GPAI systems include models such as OpenAI’s GPT-4, Google’s Gemini, Anthropic’s Claude, and Meta’s Llama, trained on vast datasets for broad applications.

The Code of Practice, released last week, addresses transparency, safety, security, and copyright, and is described by the European Commission as a voluntary tool. It was prepared by independent experts to help GPAI developers comply with upcoming legal obligations under the EU AI Act.

In a statement on the firm’s website, William Fry lawyers Barry Scannell and Leo Moore question how voluntary the code truly is. They note that signatories not in full compliance can still be seen as acting in good faith and will be supported rather than penalised.

A protected grace period runs until 2 August 2026, after which the AI Act could allow fines for non-compliance. The lawyers warn that this creates a two-tier system, shielding signatories while exposing non-signatories to immediate legal risk under the AI Act.

Developers who do not sign the code may face higher regulatory scrutiny, despite it being described as non-binding. William Fry also points out that detailed implementation guidelines and templates have not yet been published by the EU.

Additional guidance to clarify key GPAI concepts is expected later this month, but the current lack of detail creates uncertainty. The code’s copyright section, the lawyers argue, shows how the document has evolved into a quasi-regulatory framework.

An earlier draft required only reasonable efforts to avoid copyright-infringing sources. The final version demands the active exclusion of such sites. A proposed measure requiring developers to verify the source of copyrighted data acquired from third parties has been removed from the final draft.

The lawyers argue that this creates a practical blind spot, allowing unlawful content to slip into training data undetected. Rights holders still retain the ability to pursue action if they believe their content was misused, even if providers are signatories.

Meanwhile, the transparency chapter now outlines specific standards, rather than general principles. The safety and security section also sets enforceable expectations, increasing the operational burden on model developers.

William Fry warns that gaps between the code’s obligations and the missing technical documentation could have costly consequences. They conclude that, without the final training data template or implementation details, both developers and rights holders face compliance risks.

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Mastercard says stablecoins are not ready for everyday payments

Mastercard’s Chief Product Officer, Jorn Lambert, has highlighted that stablecoins still face significant hurdles before becoming widely used for everyday payments.

While the technology offers advantages such as fast transactions, 24/7 availability, low fees, and programmability, these features alone do not ensure consumer adoption. A seamless user experience and broad accessibility remain essential.

Mastercard envisions itself as a crucial infrastructure provider connecting crypto and traditional finance. The company has partnered with Paxos to support USDG stablecoin operations and backs other stablecoins like USDC and PYUSD.

Mastercard’s goal is to enable stablecoins to scale by integrating them into existing payment networks, combining global acceptance with regulatory compliance.

Currently, about 90% of stablecoin transactions are linked to crypto trading rather than retail purchases. User adoption is hindered by friction at checkout and limited merchant acceptance. Lambert compares stablecoins to prepaid cards, usable with some merchants but lacking widespread utility.

Furthermore, converting between fiat and stablecoins adds costs related to foreign exchange, regulation, and settlement.

Regulatory clarity, particularly in the US, is encouraging banks and institutions to explore stablecoin offerings. The evolving legal landscape may also prompt governments to issue their own digital currencies or regulate private stablecoins to prevent risks like dollarisation.

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How AI-generated video is reshaping the film industry

AI-generated video has evolved at breakneck speed, moving from distorted and unconvincing clips to hyper-realistic creations that rival traditional filmmaking. What was once a blurry, awkward depiction of Will Smith eating spaghetti in 2023 is now flawlessly rendered on platforms like Google’s Veo 3.

In just months, tools such as Luma Labs’ Dream Machine, OpenAI’s Sora, and Runway AI’s Gen-4 have redefined what’s possible, drawing the attention of Hollywood studios, advertisers, and artists eager to test the limits of this new creative frontier.

Major industry players are already experimenting with AI for previsualisation, visual effects, and even entire animated films. Lionsgate and AMC Networks have partnered with Runway AI, with executives exploring AI-generated family-friendly versions of blockbuster franchises like John Wick and The Hunger Games.

The technology drastically cuts costs for complex scenes, making it possible to create elaborate previews—like a snowstorm filled with thousands of soldiers—for a fraction of the traditional price. However, while some see AI as a tool to expand creative possibilities, resistance remains strong.

Critics argue that AI threatens traditional artistic processes, raises ethical concerns over energy use and data training, and risks undermining human creativity. The debate mirrors past technological shifts in entertainment—inevitable yet disruptive.

As Runway and other pioneers push toward immersive experiences in augmented and virtual reality, the future of filmmaking may no longer be defined solely by Hollywood, but by anyone with access to these powerful tools.

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Gemini expands tokenised stocks for EU investors

Gemini has significantly expanded its tokenised stock offerings for European investors, adding 14 new major US company shares to its platform. Notable additions include Nike, McDonald’s, Starbucks, Coca-Cola, Uber, and Yum! Brands.

The move brings the total tokenised equities available to 37, providing EU users with a diverse range of investment options.

Tokens are issued by Dinari and minted on the Arbitrum blockchain, ensuring efficient and secure trading. Gemini enables 24/7 access to these tokenised stocks, charging a 1.49% fee per transaction.

The latest launch follows recent additions such as Apple, Tesla, Amazon, and Microsoft, reflecting Gemini’s commitment to broadening market access.

Meanwhile, Robinhood’s tokenised stocks, offering 215 tokens to European users, face regulatory hurdles after OpenAI rejected its shares. The company says the product provides indirect retail investor exposure.

Other crypto exchanges like Kraken and Bybit have also entered the tokenised equities space. Kraken’s trading interface resembles traditional crypto pairs, while Bybit offers its xStocks on both centralized and decentralised platforms.

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Google strengthens position as Perplexity and OpenAI launch browsers

OpenAI is reportedly preparing to launch an AI-powered web browser in the coming weeks, aiming to compete with Alphabet’s dominant Chrome browser, according to sources cited by Reuters.

The forthcoming browser seeks to leverage AI to reshape how users interact with the internet, while potentially granting OpenAI deeper access to valuable user data—a key driver behind Google’s advertising empire.

If adopted by ChatGPT’s 500 million weekly active users, the browser could pose a significant challenge to Chrome, which currently underpins much of Alphabet’s ad targeting and search traffic infrastructure.

The browser is expected to feature a native chat interface, reducing the need for users to click through traditional websites. The features align with OpenAI’s broader strategy to embed its services more seamlessly into users’ daily routines.

While the company declined to comment on the development, anonymous sources noted that the browser is likely to support AI agent capabilities, such as booking reservations or completing web forms on behalf of users.

The move comes as OpenAI faces intensifying competition from Google, Anthropic, and Perplexity.

In May, OpenAI acquired the AI hardware start-up io for $6.5 billion, in a deal linked to Apple design veteran Jony Ive. The acquisition signals a strategic push beyond software and into integrated consumer tools.

Despite Chrome’s grip on over two-thirds of the global browser market, OpenAI appears undeterred. Its browser will be built on Chromium—the open-source framework powering Chrome, Microsoft Edge, and other major browsers. Notably, OpenAI hired two former Google executives last year who had previously worked on Chrome.

The decision to build a standalone browser—rather than rely on third-party plug-ins—was reportedly driven by OpenAI’s desire for greater control over both data collection and core functionality.

The control could prove vital as regulatory scrutiny of Google’s dominance in search and advertising intensifies. The United States Department of Justice is currently pushing for Chrome’s divestiture as part of its broader antitrust actions against Alphabet.

Other players are already exploring the AI browser space. Perplexity recently launched its own AI browser, Comet, while The Browser Company and Brave have introduced AI-enhanced browsing features.

As the AI race accelerates, OpenAI’s entry into the browser market could redefine how users navigate and engage with the web—potentially transforming search, advertising, and digital privacy in the process.

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