Economic Archives | Page 398 of 708 | Digital Watch Observatory

$Trump cryptocurrency soars following exclusive event promise

The price of Donald Trump’s $Trump cryptocurrency surged by over 70% following the announcement of exclusive events for its top investors. The 220 largest holders of the meme coin will be invited to a private gala dinner with the president on 22 May.

The event is described as ‘the most EXCLUSIVE INVITATION in the world’ on the coin’s official website.

Despite the surge, the $Trump token remains far below its peak of over $74 (£42.40) from January, shortly after its launch. Trump, who has dubbed himself the ‘crypto president’, has launched several crypto-related ventures.

Alongside the gala dinner at the Trump National Golf Club in Washington, DC, the top 25 coin holders will also receive invitations to a private VIP reception with the president.

The $Trump tokens in circulation are valued at around $2.5bn, with the cryptocurrency debuting just before Trump’s inauguration on 20 January. The announcement has drawn criticism from some within the crypto community, who labelled it ‘a stunt’.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

Microsoft’s Surface ad uses generative AI without anyone noticing

Microsoft recently revealed that it created a minute-long ad for its Surface Pro and Surface Laptop using generative AI, but the twist is that no one seemed to notice the AI elements, even though the ad has been online for nearly three months.

Released on January 30th, the ad features a mix of real footage and AI-generated content, with some AI-generated visuals corrected and integrated with live shots.

The AI tools were first used to generate the script, storyboards, and pitch deck for the ad. From there, a combination of text prompts and sample images helped generate visuals, which were iterated on and refined with image and video generators like Hailuo and Kling.

Creative director Cisco McCarthy explained that it took thousands of prompts to achieve the desired results, although the process ultimately saved the team around 90% of the time and cost typically needed for such a production.

Despite the AI involvement, most viewers didn’t notice the difference. The ad has received over 40,000 views on YouTube, but none of the top comments suggest AI was used. The quick-cut editing style helped mask the AI output’s flaws, demonstrating how powerful generative AI has become in the right hands.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

MTN confirms cybersecurity breach and data exposure

MTN Group has confirmed a cybersecurity breach that exposed personal data of some customers in certain markets. The telecom giant assured the public, however, that its core infrastructure remains secure and fully operational.

The breach involved an unknown third party gaining unauthorised access to parts of MTN’s systems, though the company emphasised that critical services, including mobile money and digital wallets, were unaffected.

In a statement released on Thursday, MTN clarified that investigations are ongoing, but no evidence suggests any compromise of its central infrastructure, such as its network, billing, or financial service platforms.

MTN has alerted the law enforcement of South Africa and is collaborating with regulatory bodies in the affected regions.

The company urged customers to take steps to safeguard their data, such as monitoring financial statements, using strong passwords, and being cautious with suspicious communications.

MTN also recommended enabling multi-factor authentication and avoiding sharing sensitive information like PINs or passwords through unsecured channels.

While investigations continue, MTN has committed to providing updates as more details emerge, reiterating its dedication to transparency and customer protection.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

Italian town celebrates Bitcoin creator with monument

Fornelli, a town in Molise, will unveil a monument to Satoshi Nakamoto, the pseudonymous creator of Bitcoin.

The artwork, designed by local artist Mattia Pannoni, will be revealed on 1 May 2025, following a Facebook announcement from the municipality.

Known for its high Bitcoin adoption rate among its 1,800 residents, Fornelli is financing the project through local government funds.

Mayor Giovanni Tedeschi emphasised the importance of embracing new ideas. He particularly highlighted those from the younger generation in shaping the town’s future.

The identity of Satoshi Nakamoto, the mysterious figure behind Bitcoin’s creation, remains unsolved. Many artists have attempted to capture Satoshi’s image, often portraying a faceless figure working on a computer or wearing a hoodie.

Fornelli’s monument is expected to follow this tradition, reflecting the enigma surrounding Nakamoto’s identity. The artwork will be displayed in the Piazza Umberto I.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

North Korean hackers create fake US firms to target crypto developers

North Korea’s Lazarus Group has launched a sophisticated campaign to infiltrate the cryptocurrency industry by registering fake companies in the US and using them to lure developers into downloading malware.

According to a Reuters investigation, these US-registered shell companies, including Blocknovas LLC and Softglide LLC, were set up using false identities and addresses, giving the operation a veneer of legitimacy instead of drawing suspicion.

Once established, the fake firms posted job listings through legitimate platforms like LinkedIn and Upwork to attract developers. Applicants were guided through fake interview processes and instructed to download so-called test assignments.

Instead of harmless software, the files installed malware that enabled the hackers to steal passwords, crypto wallet keys, and other sensitive information.

The FBI has since seized Blocknovas’ domain and confirmed its connection to Lazarus, labelling the campaign a significant evolution in North Korea’s cyber operations.

These attacks were supported by Russian infrastructure, allowing Lazarus operatives to bypass North Korea’s limited internet access.

Tools such as VPNs and remote desktop software enabled them to manage operations, communicate over platforms like GitHub and Telegram, and even record training videos on how to exfiltrate data.

Silent Push researchers confirmed that the campaign has impacted hundreds of developers and likely fed some stolen access to state-aligned espionage units instead of limiting the effort to theft.

Officials from the US, South Korea, and the UN say the revenue from such cyberattacks is funneled into North Korea’s nuclear missile programme. The FBI continues to investigate and has warned that not only the hackers but also those assisting their operations could face serious consequences.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

Google boosts AI in coding and cloud growth

More than 30% of all code at Google is now written with the help of AI, according to CEO Sundar Pichai during Alphabet’s Q1 2025 earnings call.

Developers are embracing AI-generated suggestions in nearly one out of every three code changes, thanks to improved models and the rollout of agentic workflows—AI systems designed to manage complex, multi-step tasks.

Pichai noted that AI-assisted coding is expanding across the company, with customer service teams leading the way in adoption.

Alphabet reported strong financial results, with quarterly revenue climbing 12% year-over-year to $90.2 billion. Net income rose sharply by 46% to $34.5 billion, and earnings per share jumped 49%.

While there was a slight quarterly dip in revenue from the previous quarter, Google’s core advertising business, YouTube, and Google Cloud all contributed to year-on-year growth. Cloud revenue, in particular, increased 28% due to surging demand for AI and infrastructure products.

The recently released Gemini 2.5 Pro model was described by Pichai as ‘state-of-the-art’, outperforming rivals across benchmarks and landing the top spot on Chatbot Arena. Gemini models are now integrated across 15 Google products used by more than half a billion people.

Features like Gemini Live and AI-powered camera tools are being rolled out on Android and Pixel devices, while Google Assistant will also receive a Gemini upgrade later this year.

Instead of slowing down, Google is accelerating its AI development with initiatives like Gemini Robotics Models, the AI Co-Scientist for research, and the continued success of AlphaFold, used by over 2.5 million scientists.

With over 200% growth in users of AI Studio and Gemini API, and more than 140 million downloads of Gemma models, Google is clearly positioning AI at the centre of its future across products, platforms, and research.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

SEC hears proposal on tokenised securities from Ondo Finance

Ondo Finance has presented a regulatory framework to the US Securities and Exchange Commission (SEC) for tokenising publicly traded securities. The proposal was discussed during a meeting with the SEC’s Crypto Asset Working Group.

The conversation centred on how current financial rules could be applied to tokenised versions of traditional securities on blockchain networks. Ondo addressed issues surrounding registration, broker-dealer obligations, market oversight, and state corporate law.

The company also suggested sandbox arrangements or temporary relief mechanisms that could foster innovation while maintaining investor protections.

CEO Nathan Allman and CSO Ian De Bode presented structural models to address regulatory uncertainties. Their goal is to create a legally sound method for issuing digital representations of traditional financial instruments.

Separately, the SEC is set to hold a Crypto Task Force Roundtable on 25 April in Washington, D.C. The event will cover digital asset custody, with panels featuring experts from Kraken, Anchorage, Fireblocks, and top universities like Georgetown and UPenn.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

ChatGPT expands Deep Research to more users

A new feature introduced by ChatGPT in February, called Deep Research, is gradually becoming available across its user base. This includes subscribers on the Plus, Team, and Pro plans, while even those using the free ChatGPT app on iOS and Android can now access a simplified version.

Designed to carry out in-depth reports and analyses within minutes, Deep Research uses OpenAI’s o3 model to perform tasks that would otherwise take people hours to complete.

Instead of limiting access to paid users alone, OpenAI has rolled out a lightweight version powered by its o4-mini AI model for free users. Although responses are shorter, the company insists the quality and depth remain comparable.

The more efficient model also helps reduce costs, while delivering what OpenAI calls ‘nearly as intelligent’ results as the full version.

The feature’s capabilities stretch from suggesting personalised product purchases like cars or TVs, to helping with complex decisions such as choosing a university or analysing market trends.

Free-tier users are currently allowed up to five Deep Research tasks each month, whereas Plus and Team plans get ten full and fifteen lightweight tasks. Pro users enjoy a generous 125 tasks of each version per month, and EDU and Enterprise plans will begin access next week.

Once users hit their full version limit, they’ll be automatically shifted to the lightweight tool instead of losing access altogether. Meanwhile, Google’s GeminiAI offers a similar function for its paying customers, also aiming to deliver quick, human-level research and analysis.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

Ljubljana is named the world’s most crypto-friendly city

Ljubljana has been named the world’s most crypto-friendly city in the 2025 Crypto Cities Index by Multipolitan. It surpassed major financial hubs like Hong Kong, Zurich, and Singapore.

The Slovenian capital’s success lies in its strong infrastructure, forward-thinking regulations, and real-world crypto adoption. With over 150 crypto ATMs and widespread retail acceptance, the city has built a thriving environment for everyday digital asset use.

Beyond retail usage, Ljubljana benefits from a unified crypto ecosystem supported by local organisations such as the Blockchain Alliance Europe.

Homegrown platforms like Blocksquare are making global strides, including a $1 billion tokenisation partnership with Vera Capital.

These developments highlight how a smaller city can outperform global contenders with cohesive, innovative strategies.

Hong Kong and Zurich tied for second place, respectively, and were praised for their regulatory clarity and financial stability. Meanwhile, Singapore and Abu Dhabi completed the top five, driven by favourable tax policies and efforts to attract blockchain firms.

In addition, Slovenia topped the Crypto Wealth Concentration Index, with the average crypto holder owning around $240,500 in digital assets, far ahead of the UK and US.

However, Slovenia’s proposed 25% tax on personal crypto profits, set to take effect in 2026, has sparked debate. While the government projects up to €25 million in annual revenue, critics warn that the tax could deter innovation and drive talent abroad.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!

Google stopped Motorola from using Perplexity as default assistant

A senior executive at Perplexity AI has testified that Google prevented Motorola from setting the AI startup’s assistant as the default on new smartphones, citing restrictive contracts.

The testimony came during a trial seeking remedies after Google was found to have unlawfully maintained a search monopoly.

Although Motorola will preload the app, it cannot make it the default due to binding agreements with Google. Perplexity’s Chief Business Officer, described the difficulty of replacing Google’s assistant on Android phones, saying Google’s terms create an environment where device makers fear losing revenue.

The CEO added that ongoing negotiations with other companies only became possible due to pressure from the US Department of Justice’s antitrust case.

The Justice Department is asking the court to ban Google from paying for default placements, which would also affect its AI products like Gemini.

Meanwhile, Perplexity is developing its own browser, Comet, and voiced concern about any Chrome sale undermining open-source access. The company does not support OpenAI’s interest in acquiring the browser, citing past inconsistencies in its open-source commitments.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!