ECONOMY NEWS⚡️

🤖 OpenAI and 127 Organizations Warn AI Cyberattacks Are Scaling Fast

OpenAI, Anthropic, Google, Microsoft, AWS, Cisco, Cloudflare, CrowdStrike, Visa, Mastercard and dozens of other organizations signed an open letter calling for urgent cyber defense upgrades.

⚫ The warning: AI-powered attacks could become more widespread and more complex in the coming months ⚫ Critical services are at risk, including hospitals, water systems and internet infrastructure ⚫ The letter says current defenses are not enough because of old vulnerabilities, weak access controls, poor patching and technical debt ⚫ Signatories want defenders to get broader access to AI tools, shared fixes, threat data and practical support ⚫ AI model developers are also being asked to fund, train and support under-resourced critical infrastructure teams The bigger signal: AI is now changing both sides of cybersecurity. Attackers get faster, but defenders need the same tools before the gap becomes impossible to close. ⚡ECONOMY NEWS⚡

🇪🇺 ECB Promises “Maximum Privacy” for Digital Euro

ECB executive board member Piero Cipollone says the digital euro will offer stronger privacy than regular bank transfers, with the Eurosystem unable to directly link users to their transactions.

⚫ Offline CBDC payments should happen directly between users, with details visible only to payer and recipient ⚫ In online payments, only participating banks would identify users for AML and compliance checks ⚫ Cipollone said the digital euro is not meant to replace cash, but to complement it where cash cannot work, such as online shopping ⚫ Privacy groups argue the project still relies too much on institutional promises instead of hard technical guarantees ⚫ The ECB wants regulation approved by the end of 2026 and aims to be ready for a possible first launch in 2029 The signal is clear: Europe is trying to sell the digital euro as a privacy-first CBDC, but trust will depend on architecture, not just central bank assurances. ⚡ECONOMY NEWS⚡

🇯🇵 Japan to Test Blockchain Settlements for Stocks and Bonds

Japan is preparing a blockchain-based system for real-time settlement of stock and government bond trades, with a project plan expected by early 2027.

⚫ FSA, the Finance Ministry, the Bank of Japan and financial firms will join a working group this summer ⚫ The goal is to define the system architecture, participant responsibilities and development roadmap ⚫ Today, Japanese stock trades settle after two days, while government bonds settle the next day ⚫ Blockchain could cut that delay and let sellers receive cash and reinvest almost immediately ⚫️ If approved, the infrastructure could go live in the early 2030s The signal is clear: Japan does not want to fall behind the US and Europe in tokenized markets, where real-world assets are becoming a serious infrastructure race. ⚡ECONOMY NEWS⚡

💰 Trump-Linked WLFI Bank Charter Raises Conflict Concerns

World Liberty Financial, the crypto company tied to Trump’s family, received conditional OCC approval to launch a US trust bank.

⚫ Final approval requires WLFI to hire an external auditor and maintain required capital levels ⚫ Three WLFI investors, including one of Trump’s sons, agreed to limit their influence over the future bank ⚫ The bank would custody assets backing the USD1 stablecoin and place the project under OCC supervision ⚫ Critics warn the stablecoin could create a perception of government backing or become a channel for political influence ⚫️ OCC has approved 22 bank charter applications in the first 19 months of Trump’s second term, more than in the previous five years combined The bigger issue: crypto banking is moving into the regulated system, but when the issuer is tied to the president’s family, supervision and politics become impossible to separate. ⚡ECONOMY NEWS⚡

💰 Nvidia Reportedly Spends $6B to Build US Open-Weight AI Rival

Nvidia has reportedly struck a $6B deal with AI startup Poolside to develop a powerful open-weight model that can compete with Chinese LLMs like DeepSeek and Kimi K3.

⚫ The deal includes model licenses, job offers for 100+ Poolside employees and an additional $1B investment ⚫ Nvidia is backing open models that developers can use, customize and run more cheaply ⚫ The move also protects future demand for Nvidia chips and AI systems ⚫ WSJ says the deal directly challenges OpenAI and Anthropic, whose closed models dominate the US market The signal is clear: Nvidia does not just want to sell the shovels for the AI gold rush. It now wants to shape which models developers build with. ⚡ECONOMY NEWS⚡

💰 Most Americans Say Trump’s Crypto Profits Are Inappropriate

A Reuters poll found that 63% of Americans believe Donald Trump and his family have inappropriately profited from crypto since his return to power.

⚫ 32% of respondents said the crypto income was acceptable ⚫ 69% said Trump’s private business interests influence his decisions as president ⚫ Trump disclosed more than $1.4B in income from crypto projects, including nearly $800M from World Liberty Financial ⚫ The White House rejects conflict-of-interest claims, but ethics experts call the overlap between business and politics unprecedented The bigger signal: crypto regulation in Washington is no longer just about market structure. It is also becoming a fight over political ethics, conflicts of interest and who gets to profit from the rules. ⚡ECONOMY NEWS⚡

💰 IBM Advances Quantum Scaling With Modular Cryogenics

IBM connected and cooled two modular cryogenic systems into one ultra-cold environment designed for scaling fault-tolerant quantum computers.

⚫ The system reached 4 K in under five days and later dropped below 15 mK ⚫ Each vacuum enclosure offers up to 12x more wiring space than IBM’s common quantum setups ⚫ IBM plans to use L-couplers to directly connect separate quantum chips inside and between modules ⚫ Later in 2026, the company expects to install IBM Quantum Nighthawk processors for expanded testing ⚫ By 2027, IBM aims to link multiple processors into a system with at least 1,000 programmable qubits The bigger signal: IBM is moving from single-chip quantum progress toward the industrial plumbing needed for large-scale fault-tolerant machines. ⚡ECONOMY NEWS⚡

🤖 AI Drafts Are Making Congress Lawyers’ Jobs Harder

The US House Office of Legislative Counsel is reportedly receiving more AI-generated bill drafts, and lawyers say many of them create extra work instead of saving time.

⚫ Drafts made with AI can include wrong legal references, bad definitions and wording that does not match lawmakers’ intent ⚫ Staffers say fixing these documents can take longer than writing them from scratch ⚫ Even small errors can delay legislation or create legal problems later ⚫ Congress still keeps adopting AI tools, including Microsoft Copilot training for House staff The signal is clear: AI can speed up political paperwork, but in lawmaking, bad automation turns into expensive cleanup. ⚡ECONOMY NEWS⚡

💰 US Treasury Proposes GENIUS Act Rules for Stablecoins

The US Treasury released draft rules for implementing the GENIUS Act, the first federal framework for payment stablecoins in the United States.

⚫ The proposal defines how payment stablecoins can be issued, offered and supervised ⚫ Issuers would need 1:1 reserves backed by highly liquid assets like dollars, bank deposits and short-term Treasuries ⚫ Companies would also face regular reserve disclosures and independent verification ⚫ The rules are still in public comment stage, not final regulation ⚫ The full regime starts no later than 120 days after final rules are published The signal is clear: US stablecoin regulation is moving from political headline to operational rulebook — but the market is still waiting for final details. ⚡ECONOMY NEWS⚡

🇨🇳 Apple Trains China-Specific AI Model With Alibaba Support

Apple has reportedly trained its own large language model for China with support from Alibaba, as it prepares to bring Apple Intelligence to the country.

⚫ Reuters says this is the first time Apple trained an AI model specifically for Beijing’s regulatory environment ⚫ The model will complement local partner systems, not fully replace them ⚫ Alibaba’s Qwen is expected to be integrated into Apple Intelligence for iPhone, iPad, Mac and Vision Pro in China ⚫ China’s cyberspace regulator registered Apple’s generative AI service in July, a required step before public launch The signal is clear: Apple cannot scale AI in China with US tools like ChatGPT or Claude, so it is building a hybrid local strategy to defend its iPhone market. ⚡ECONOMY NEWS⚡

🇺🇦 Ukraine Warns Crypto Rules Must Not Push Business Abroad

Ukraine’s securities regulator says crypto regulation should protect users without making local companies move to friendlier jurisdictions.

⚫ Ukraine ranked 8th globally in Chainalysis crypto adoption and 1st after adjusting for population ⚫ From July 2024 to June 2025, Ukrainians received about $206.3B in digital assets, up 52% year over year ⚫ The reform aims to legalize authorized providers for buying, selling, exchange, custody and staking ⚫ Regulators also see tokenization and RWA as a bridge between virtual assets and traditional finance The message is clear: Ukraine wants crypto rules that bring business, taxes and user protection onshore, not regulation that forces the industry to leave. ⚡ECONOMY NEWS⚡

📉 Bitcoin Miner Fee Revenue Falls Near 10-Year Low

Bitcoin miners are earning almost nothing from transaction fees, with fees making up just 0.69% of total miner revenue on August 11, according to Glassnode co-founder Rafael Schultze-Kraft.

⚫ Fee revenue has stayed below 1% for almost a year ⚫ The last time the share was this low, Bitcoin traded below $400 ⚫ Miner income is now funded almost entirely by the 3.125 BTC block subsidy ⚫ Estimated average mining cost sits around $78,254 per BTC, while Bitcoin trades near $64,100 ⚫ Hashrate has dropped 33% from its October 2025 peak, from 1.3 ZH/s to 898 EH/s The market read: Bitcoin’s security budget is leaning heavily on block rewards again, while weak fees, lower margins and AI/HPC migration are putting pressure on miners. ⚡ECONOMY NEWS⚡

🤖 xAI Launches Grok Bot as AI Agents for Real Workflows

xAI introduced Grok Bot, a messenger-style system of AI agents designed to complete complex work tasks across apps and browsers.

⚫ Users assign tasks in chat, and the bot returns with results or asks for approval before taking action ⚫ Each agent runs on its own cloud virtual machine and can keep working even when the user’s computer is off ⚫ Bots can log into services, operate directly inside interfaces and complete tasks without relying on APIs ⚫ Multiple agents can work in parallel, join group chats, divide roles and hand tasks to each other The bigger signal: AI agents are moving from “answering questions” to acting like virtual coworkers with memory, workflows and execution power. ⚡ECONOMY NEWS⚡

🔍 Goldman Debates Potential Chinese Optical Networking Import Ban

Goldman trading desk debates around a potential Chinese optical networking import ban center on client traction, capacity/cost efficiency, and production diversification.

 Three key debates emerged in Goldman trading desk conversations about the potential impact of the possible import ban on Chinese optical networking.  One debate focuses on why industry leaders continue to gain client traction.  Another debate concerns capacity and cost efficiency implications.  The third debate involves production base diversification. ⚡ ECONOMY NEWS ⚡

🇰🇵 North Korean Hackers Add Local AI to Crypto Attacks

South Korean cybersecurity researchers say the North Korea-linked Kimsuky group is using local AI systems to target crypto and financial companies.

⚫ Researchers found local LLM setups based on Ollama, GPT4All and Msty ⚫ These tools can run offline and use RAG without sending sensitive data to cloud services ⚫ The group also used LLM libraries, Cursor, coding tools and speech recognition systems ⚫ Genians says Kimsuky is moving from AI testing to embedding open LLMs into real attack workflows The signal is clear: AI is becoming part of the attacker stack, not just for phishing texts, but for malware development, data analysis and automation. ⚡ECONOMY NEWS⚡

🤖 Amazon Plans the Largest Gas Power Plant in the US for AI

Amazon confirmed it bought land in Pecos County, Texas for a new data center campus that will be powered by its own 7.65 GW gas plant. If completed as planned, it would become one of the biggest dedicated power setups ever built for AI infrastructure.

⚫ The GW Ranch project includes 35 gas turbines and is being developed by Pacifico Energy ⚫ Amazon’s filings show three data center buildings with total planned investment of $900M ⚫ The company is using on-site generation to avoid long grid interconnection delays in Texas ⚫ The plant already has permission for up to 33 million tons of CO2 emissions per year The bigger signal: AI companies are no longer waiting for the grid to catch up. They’re securing land, energy, and infrastructure directly — even if that means much higher environmental costs. ⚡ECONOMY NEWS⚡

🇺🇸 US Senate Pushes CLARITY Act Vote to September

The US Senate delayed procedural action on the CLARITY Act until after the August recess, slowing momentum for the crypto market structure bill.

⚫ The Senate leaves on August 7 and returns to Washington on September 14 ⚫ Republicans need 60 votes, meaning at least seven Democrats must support the bill ⚫ Internal GOP concerns remain, including banking deposit risks and other unresolved provisions ⚫ Polymarket now gives CLARITY only a 14% chance of being signed this year, down from 55% in early July The bigger fight is ethics: new amendments could force Trump to divest crypto business stakes, while also creating possible tax deferral benefits. ⚡ECONOMY NEWS⚡

🤖 ChatGPT Becomes the Main AI Tool in the US House

ChatGPT accounted for about 88% of all AI-service spending by the US House of Representatives, according to CNBC’s review of expense records.

⚫ House offices, committees and support units spent at least $113,740 on AI tools from April 2025 to March 2026 ⚫ ChatGPT took $100,580 across 798 transactions, or 96% of all AI-related payments ⚫ Claude ranked second with $13,160 across 37 transactions ⚫ At least 71 congressional offices paid for ChatGPT, using AI for bill summaries, memos, hearing materials and constituent replies The signal is clear: while Washington debates AI regulation, its own offices are already building daily workflows around the same tools. ⚡ECONOMY NEWS⚡

🇪🇺 MiCA Licensing Turns Into a Crypto Maze in Europe

MiCA was supposed to create one clear crypto rulebook for the EU. Instead, the rollout left much of the market stuck between slow regulators, different national deadlines and missing licenses.

⚫ By late July, ESMA listed only 313 active CASP licenses, while Europe had more than 3,000 crypto firms before MiCA ⚫ Transition periods differed by country: some gave 18 months, others only five or six ⚫ Poland still has no working licensing system after repeated vetoes blocked local implementation ⚫ Binance withdrew its Greek license application before the deadline and limited EU user services ⚫ Tether skipped MiCA licensing, pushing USDT off regulated EU exchanges while Circle’s USDC and EURC gained ground The message is rough: Europe got the world’s first major crypto framework, but execution turned the “single market” into 27 separate bottlenecks. ⚡ECONOMY NEWS⚡

🇺🇸 US Lawmaker Moves Against Flock Surveillance Cameras

US congressman Thomas Massie wants to cut federal funding for municipalities and police departments that use Flock cameras or similar automated surveillance systems.

⚫ Flock cameras scan passing cars, read license plates and identify vehicle details like make, model and color ⚫ The company says it does not use facial recognition and usually stores data for 30 days ⚫ Critics say the systems are being used beyond crime investigations, including alleged personal surveillance by officers ⚫ Several local governments are already rethinking contracts over privacy, data sharing and security concerns The signal is clear: automated surveillance is moving from local policing tool to national privacy fight. ⚡ECONOMY NEWS⚡