Economic

Kazakhstan unveils plans for crypto-friendly city

Kazakhstan is pressing ahead with a bold initiative to integrate cryptocurrency into everyday payments by launching a pilot zone known as CryptoCity. President Tokayev announced the project as a sandbox for legal crypto payments at the Astana International Forum 2025.

The city of Alatau is currently the leading candidate to host CryptoCity. Recognised for its scientific research facilities and special economic zones, Alatau offers an existing technological infrastructure that makes it a strong contender.

Zhaslan Madiyev, Kazakhstan’s Minister of Digital Development, said the zone would support the legal circulation of cryptocurrencies. It will operate under crypto-friendly legislation.

Officials believe the project could attract developers, programmers, and IT specialists, boosting local economic growth. Kazakhstan has already trialled a central bank digital currency, which helped to speed up VAT refund processes.

With CryptoCity now under development, the country aims to become a regional leader in blockchain innovation.

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Gen Z turns to AI to plan their next holiday

AI is quickly becoming an essential tool for Gen Z travellers, with 45% either already using it or planning to use it this year to help organise their holidays.

According to a survey by Multitrip.com, AI is now a key influence for trip inspiration and destination selection, especially for younger generations looking to personalise their travel experiences.

Among Gen Z respondents, a quarter have already used AI to choose where to go—an increase from 20% last year—while interest among Millennials and Gen X is also growing.

Millennials’ use rose to 22%, and Gen X saw a notable jump from 4% to 10%. Baby Boomers, however, remain largely unconvinced, with only 3% reporting past use and 84% saying they have no plans to try it.

Social media continues to play a major role in travel decisions, especially for younger people, while TV and film remain popular sources of inspiration across all generations.

AI is not only helping travellers choose where to go, but also shaping itineraries, with nearly one in four Gen Z users already relying on it to structure their trips.

As AI technology becomes more user-friendly and accessible, its role in trip planning is expected to grow. However, experts still recommend traditional travel essentials, including insurance.

Multitrip.com’s Christian Bennett reminds travellers that no matter how a trip is planned, protection from unexpected events remains crucial.

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Startup Odyssey unveils streaming AI-powered 3D video demo

Odyssey, a startup founded by self-driving technology pioneers Oliver Cameron and Jeff Hawke, has unveiled a new AI model capable of generating interactive, 3D-like video experiences in real time.

The system streams video frames every 40 milliseconds and lets users explore scenes with basic controls, much like moving around in a video game.

The model is powered by a newly developed ‘world model’ designed to predict what comes next in a virtual environment based on prior actions and context.

While the current demo, available online, still features blurred and unstable visuals, Odyssey claims it can maintain coherent video streams for over five minutes. Streaming performance reaches up to 30 frames per second using Nvidia H100 GPUs, costing $1–2 per user-hour.

Odyssey is positioning its platform as the future of interactive media, suggesting it could transform entertainment, education, advertising, and training.

Unlike some AI developers facing criticism for displacing creative workers, Odyssey pledges to work alongside artists and provide tools compatible with software like Unreal Engine, Blender, and After Effects.

To support development, the company built a 360-degree backpack-mounted camera to collect real-world footage, aiming to produce more realistic outputs than models trained solely on public datasets.

Backed by $27 million in funding and supported by Pixar co-founder Ed Catmull, Odyssey plans to significantly improve model stability and expand its action capabilities in the near future.

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Emerging markets lead daily crypto wallet use

Emerging markets use cryptocurrency wallets for everyday payments more than developed regions, a recent Bitget Wallet report shows. A survey of 4,599 users shows Southeast Asia, South Asia, and Africa mainly use crypto wallets to send funds.

These regions often face limited access to traditional banking, making crypto a practical alternative.

In contrast, users in Europe mainly use crypto wallets for trading, with over 40% citing this as their primary activity. North America and East Asia showed balanced crypto trading and transfers, with East Asia leading in long-term holdings at 43%.

Bitget’s CEO, Gracy Chen, highlighted the significant shift in user behaviour, noting that wallets are evolving beyond trading tools into integral parts of broader financial ecosystems.

Plans are underway to make wallets more accessible for users who are new to cryptocurrencies and not traditional traders.

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Google Photos new update adds AI editing

Google is marking the 10th anniversary of Google Photos by introducing a revamped, AI-powered photo editor aimed at making image enhancement simpler and faster.

The updated tool combines multiple effects with a single suggestion and offers editing tips when users tap on specific parts of a photo.

Instead of relying solely on manual controls, the interface now blends smart features like Reimagine and Auto frame with familiar options such as brightness and contrast. The new editor is being rolled out to Android users first, with iOS users set to receive it later in the year.

In addition, Google Photos now supports album sharing via QR codes. Instead of sharing links, users can generate a code that others nearby can scan or receive digitally, allowing them to view or add photos to shared albums.

With over 1.5 billion monthly users and more than nine trillion photos stored, Google Photos remains one of the world’s most widely used photo services.

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Musk leaves DOGE after uphill struggle

Elon Musk has left the Department of Government Efficiency (DOGE), citing difficulties in cutting federal spending and increasing distraction from politics. He admitted that the scale of government inefficiency was far greater than expected, calling it an ‘uphill battle’.

His role as a Special Government Employee limited his tenure to 130 days, ending on 30 May. During this time, DOGE claimed to have saved $175 billion through job cuts and programme reductions — a figure many experts have questioned.

Musk originally aimed to cut $2 trillion but later revised the goal down to $150 billion.

DOGE reportedly reduced the federal workforce by 12%, or 260,000 jobs, through various measures. Despite the criticism, Musk said the initiative will continue to expand across government.

However, he and DOGE now face a lawsuit from 14 states accusing them of overreach and unlawful interference in federal operations.

In interviews, Musk admitted to spending ‘too much time’ on politics, noting it had drawn attention away from his businesses. Following news of his reduced involvement in DOGE, Tesla shares rose over 5%, although the company’s net income plunged 80% in the first quarter.

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AT&T hit by alleged 31 million record breach

A hacker has allegedly leaked data from 31 million AT&T customers, raising fresh concerns over the security of one of America’s largest telecom providers. The data, posted on a major dark web forum in late May 2025, is said to contain 3.1GB of customer information in both JSON and CSV formats.

Instead of isolated details, the breach reportedly includes highly sensitive data: full names, dates of birth, tax IDs, physical and email addresses, device and cookie identifiers, phone numbers, and IP addresses.

Cybersecurity firm DarkEye flagged the leak, warning that the structured formats make the data easy for criminals to exploit.

If verified, the breach would mark yet another major incident for AT&T. In March 2024, the company confirmed that personal information from 73 million users had been leaked.

Just months later, a July breach exposed call records and location metadata for nearly 110 million customers, with blame directed at compromised Snowflake cloud accounts.

AT&T has yet to comment on the latest claims. Experts warn that the combination of tax numbers and device data could enable identity theft, financial scams, and advanced phishing attacks.

For a company already under scrutiny for past security lapses, the latest breach could further damage public trust.

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Libra meme coin wallets frozen on Solana

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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Chinese tech firms thrive amid US curbs

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 website hit by cyber attack

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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