Economic

New Jersey criminalises AI-generated nude deepfakes of minors

New Jersey has become the first US state to criminalise the creation and sharing of AI-generated nude images of minors, following a high-profile campaign led by 14-year-old Francesca Mani. The US legislation, signed into law on 2 April by Governor Phil Murphy, allows victims to sue perpetrators for up to $1,000 per image and includes criminal penalties of up to five years in prison and fines of up to $30,000.

Mani launched her campaign after discovering that boys at her school had used an AI “nudify” website to target her and other girls. Refusing to accept the school’s minimal disciplinary response, she called for lawmakers to take decisive action against such deepfake abuses. Her efforts gained national attention, including a feature on 60 Minutes, and helped drive the new legal protections.

The law defines deepfakes as media that convincingly depicts someone doing something they never actually did. It also prohibits the use of such technology for election interference or defamation. Although the law’s focus is on malicious misuse, questions remain about whether exemptions will be made for legitimate uses in film, tech, or education sectors.

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Metro Bank teams up with Ask Silver to fight fraud

Metro Bank has introduced an AI-powered scam detection tool, becoming the first UK bank to offer customers instant scam checks through a simple WhatsApp service.

Developed in partnership with Ask Silver, the Scam Checker allows users to upload images or screenshots of suspicious emails, websites, or documents for rapid analysis and safety advice.

The tool is free for personal and business customers, who receive alerts if the communication is flagged as fraudulent. Ask Silver’s technology not only identifies potential scams but also automatically reports them to relevant authorities.

The company was founded after one of the co-founders’ family members lost £150,000 to a scam, fuelling its mission to prevent similar crimes.

The launch comes amid a surge in impersonation scams across the United Kingdom, with over £1 billion lost to fraud in 2023. Metro Bank’s head of fraud, Baz Thompson, said the tool helps counter tactics that rely on urgency and pressure.

Customers are also reminded that the bank will never request sensitive information or press them to act quickly via emails or texts.

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SandboxAQ attracts major investors for AI expansion

SandboxAQ has secured a further $150 million in funding, bringing its Series E total to over $450 million.

The quantum-AI firm, which originated at Alphabet in 2016 and spun out in 2022, continues to draw backing from tech heavyweights and financial leaders, including Google, Nvidia, Ray Dalio, and BNP Paribas.

The funding is set to accelerate development in large quantitative models (LQMs), which lie at the heart of SandboxAQ’s enterprise solutions.

The models are already being applied across sectors such as life sciences, finance, and navigation. BNP Paribas described the partnership as a key move at the intersection of AI and quantum technology, while Ray Dalio cited his confidence in the company’s team and approach.

Recent collaborations have also strengthened SandboxAQ’s position in the field. In early 2025, it partnered with Google Cloud to deliver its LQMs via the Google Cloud Marketplace, easing deployment for enterprise users.

Previous deals include a November 2023 alliance with Nvidia to simulate chemical reactions for new material development. In total, SandboxAQ has now raised more than $950 million, achieving a pre-money valuation of $5.3 billion in late 2024.

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Senator Warner warns TikTok deal deadline extension breaks the law

Senator Mark Warner, the top Democrat on the Senate Intelligence Committee, has criticised President Donald Trump’s recent move to extend the deadline for ByteDance to divest TikTok’s US operations. 

Warner argued that the 75-day extension violates the law passed in 2024, which mandates a complete separation between TikTok’s American entity and its Chinese parent company due to national security concerns.

The deal currently under consideration would allow ByteDance to retain a significant equity stake and maintain an operational role in the new US-based company. 

According to Warner, this arrangement fails to satisfy the legal requirement of eliminating Chinese influence over TikTok’s US operations. 

He emphasised that any legitimate divestiture must include a complete technological and organisational break, preventing ByteDance from accessing user data or source code.

The White House and TikTok have not issued statements in response to Warner’s criticism. In its second term, Trump’s administration has stated it is in contact with four groups regarding a potential TikTok acquisition. 

However, no agreement has been finalised, and China has yet to publicly support a sale of TikTok’s US assets, one of the primary obstacles to completing the deal.

Under the 2024 law, ByteDance was required to divest TikTok’s US business by 19 January or face a ban. 

Trump, who retook office on 20 January, chose not to enforce the ban immediately and instead signed an executive order extending the deadline. 

The Justice Department further complicated the issue when it told Apple and Google that the law would not be enforced, allowing the app to remain available for download.

As the deadline extension continues to stir controversy, lawmakers like Warner insist that national security and legislative integrity are at stake.

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Mistral AI to power CMA CGM’s next-gen logistics tools

French shipping heavyweight CMA CGM has announced a major partnership with tech firm Mistral AI, committing €100 million over five years to develop custom AI solutions across its logistics, shipping, and media divisions.

A dedicated team of Mistral AI experts will be stationed at CMA CGM’s Marseille headquarters and Grand Central, the base for its media arm.

The collaboration will focus on automating customer services, improving e-commerce tools, and creating smarter document systems to streamline operations.

CMA CGM’s CEO, Rodolphe Saadé, described the deal as a key step in reinventing the group’s core businesses with artificial intelligence, while aligning with the company’s values and goals for responsible innovation.

CMA CGM has already committed €500 million to advancing AI, with prior partnerships including Google and Perplexity, and investments in firms like PoolSide and Dataiku.

The group also launched Kyutai, a nonprofit AI research lab, in 2023. The latest collaboration with Mistral AI reinforces CMA CGM’s ambition to lead digital transformation in maritime logistics through generative AI.

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Bitget secures full crypto licence in El Salvador

The leading crypto exchange, Bitget, has secured full regulatory approval in El Salvador. It has received both the Digital Asset Service Provider (DASP) and Bitcoin Services Provider (BSP) licences.

The expansion enables the exchange to offer an array of crypto services in the country. It includes spot and derivatives trading, staking, wallet infrastructure, and custody services. Bitget’s dual licensing enables it to offer a wider range of digital assets beyond Bitcoin to local users.

Additionally, Bitget plans to provide staking and futures trading services, along with educational initiatives to improve crypto literacy. The platform is customising its services to ensure secure and regulated crypto engagement for Salvadoran users.

El Salvador has a proactive approach to digital asset regulation, which is essential for its growth.

As part of its global strategy, Bitget has already secured licences in Hong Kong, Lithuania, and the UAE. The company is focused on expanding into regulated markets, offering secure and reliable services globally.

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Osney Capital invests in the UK’s cybersecurity innovation

Osney Capital has launched the UK’s first specialist cybersecurity seed fund, focused on investing in promising cybersecurity startups at the Pre-Seed and Seed stages.

The fund, which raised more than its initial £50 million target, will write cheques between £250k and £2.5 million and has the capacity for follow-on investments in Series A rounds.

Led by Adam Cragg, Josh Walter, and Paul Wilkes, the Osney Capital team brings decades of experience in cybersecurity and early-stage investing. Instead of relying on generalist investors, the fund will offer tailored support to early-stage companies, addressing the unique challenges in the cybersecurity sector.

The UK cybersecurity industry has grown to £13.2 billion in 2025, driven by complex cyber threats, regulatory pressures, and the rapid adoption of AI. The fund aims to capitalise on this growth, tapping into the strong talent pipeline boosted by UK universities and specialised cybersecurity programs.

Supported by cornerstone investments from the British Business Bank and accredited by the UK’s National Security Strategic Investment Fund, Osney Capital’s mission is to back the next generation of cybersecurity founders and help them scale globally competitive businesses.

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Sam Altman’s AI cricket post fuels India speculation

A seemingly light-hearted social media post by OpenAI CEO Sam Altman has stirred a wave of curiosity and scepticism in India. Altman shared an AI-generated anime image of himself as a cricket player dressed in an Indian jersey, which quickly went viral among Indian users.

While some saw it as a fun gesture, others questioned the timing and motives, speculating whether it was part of a broader strategy to woo Indian audiences. This isn’t the first time Altman has publicly praised India.

In recent weeks, he lauded the country’s rapid adoption of AI technology, calling it ‘amazing to watch’ and even said it was outpacing the rest of the world. His comments marked a shift from a more dismissive stance during a 2023 visit when he doubted India’s potential to compete with OpenAI’s large-scale models.

However, during his return visit in February 2025, he expressed interest in collaborating with Indian authorities on affordable AI solutions. The timing of Altman’s praise coincides with a surge in Indian users on OpenAI’s platforms, now the company’s second-largest market.

Meanwhile, OpenAI faces a legal tussle with several Indian media outlets over their alleged content misuse. Despite this, the potential of India’s booming AI market—projected to hit $8 billion by 2025—makes the country a critical frontier for global tech firms.

Experts argue that Altman’s overtures are more about business than sentiment. With increasing competition from rival AI models like DeepSeek and Gemini, maintaining and growing OpenAI’s Indian user base has become vital. As technology analyst Nikhil Pahwa said, ‘There’s no real love; it’s just business.’

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Tether eyes new stablecoin amid looming US restrictions

Amid shifting regulations, the stablecoin issuer Tether anticipates that USDT may eventually become unavailable in either the US or Europe. CEO Paolo Ardoino said the firm is creating a second stablecoin to meet upcoming US regulations.

Ardoino noted that each would serve a different function. The proposed stablecoin would be US-based and intended for payments. USDT would continue serving emerging markets.

Tether has also responded to regulatory changes in Europe by supporting the development of locally compliant stablecoins.

Ardoino admitted that the firm envisions a future in which USDT plays a limited role in both Western markets. Instead, the focus will shift to global remittances and emerging economies where demand remains strong.

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Conor McGregor’s REAL token fails to meet fundraising target, relaunch planned

Conor McGregor’s cryptocurrency project, REAL, failed to meet its $1 million fundraising target. It raised only $392,000 during its 28-hour presale.

The token saw 668 participants bidding, but the amount was well below the required minimum. As a result, all bids were refunded in full.

RWG cited challenging macroeconomic conditions and the distraction caused by the meme coin narrative for the failure. Despite this, the team reassured participants that the project would relaunch soon.

McGregor had emphasised that the REAL token wasn’t just another celebrity-backed gimmick. It was a serious attempt to change the crypto ecosystem.

The REAL token auction used a sealed-bid mechanism to promote fairness and transparency. Despite efforts, the project struggled with market confusion due to its link with McGregor and broader crypto market volatility.

The launch coincided with a decline in investor interest in meme coins. It was further exacerbated by global economic concerns, including President Trump’s tariff policies.

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