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July 2 (Reuters) - A Texas man has been charged with manslaughter after driving a Tesla (TSLA.O), opens new tab operating with its automated driving assistance system into a suburban Houston home, killing a ​76-year-old grandmother, court papers show.
Michael David Butler, 44, told police he was ‌operating his Model 3 in Full Self-Driving mode on June 19 when he plowed into Martha Avila's home in Katy, Texas, and told paramedics "the car was on 'Autopilot,'" according to court papers. Avila ​died later at a nearby hospital.
According to an arrest affidavit, Butler said ​he was making a DoorDash delivery run when he changed the music ⁠on the Tesla's touch screen, and eventually "passed out
His speed reached 73 miles per ​hour, more than double the legal limit, and the brake pedal wasn't used in the ​minute before the crash, the affidavit said. Butler denied having felt ill, and no alcohol or common street drugs were in his system, the affidavit said.
According to KHOU television, Butler appeared in probable cause court on Thursday where bail was set at $150,000, with requirements that he wear an ​ankle monitor and ​not drive.
The National Highway ⁠Traffic Safety Administration has been investigating the crash, and has since 2016 opened nearly 50 special investigations of Tesla crashes believed to involve ​advanced driver assistance systems. About two dozen deaths were reported.
Tesla ​has said ⁠its Autopilot system enables vehicles to steer, accelerate and brake within their lanes, while Full Self-Driving lets vehicles obey traffic signals and change lanes. Both require "fully attentive" drivers, it has said.
Avila's ⁠family ​sued Tesla last week, saying her wrongful death reflected ​the electric vehicle maker's gross negligence and failure to warn that its self-driving systems were defective.
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July 1 (Reuters) - Nissan (7201.T), opens new tab CEO Ivan Espinosa was pleased when the automaker reported Wednesday that its second-quarter U.S. vehicle ‌sales ticked higher. But he knows there’s still a long way to go.
Espinosa, who took the top job at the Japanese automaker in April 2025, has made the U.S. a core piece of his revival strategy. Nissan’s U.S. market share hovers just ​above 6%, down from around 9% a decade ago.
Espinosa, a 47-year-old Mexican national, has been candid ​in his view that Nissan lost its way in the U.S. It was pushing ⁠too hard to grow sales, which led to quality and image problems, the CEO told Reuters in an ​interview Wednesday.
For much of the past decade, Nissan offered unusually steep discounts in a bid to sell more cars ​and boost its market share, which dealers say hurt resale values. Aggressive selling to rental-car companies also a sales-boosting tactic – cheapened the brand’s image, Espinosa said.
Before, it was like, okay, we want volume, volume, volume. This is not a good way of ​operating a car company,” he said, adding that he'd like to largely "stay away" from the rental market.
Today, the CEO says he’s after healthy sales growth. Nissan is touting its vehicle quality, including a recent strong ‌showing ⁠in a closely watched JD Power survey of new vehicle owners. Espinosa said a forthcoming influx of new models also will help his quest for a U.S. rebound.
Among the first of those is a hybrid version of Nissan’s Rogue compact SUV, its top seller, due to go on sale late this year. Espinosa said Nissan missed ​an opportunity to win customers ​with hybrid cars, which ⁠have surged in popularity in the past few years, especially amid higher gas prices from the Iran war.
Nissan also is planning to launch new, rugged SUVs built on ​a truck-like frame, including the re-introduction of the Xterra, which was sold in ​the U.S. from ⁠the 1990s to the mid-2010s.
The U.S. strategy is part of a sweeping revival plan that includes cutting Nissan’s global manufacturing footprint and workforce by 15% to control costs. Nissan also is scouting for partnerships to help it develop ⁠vehicle technologies, ​following an aborted plan to merge with Honda (7267.T), opens new tab.
Harry Criswell, who owns ​a Nissan store in the Washington, D.C. area, said dealers are optimistic that Espinosa, a former product planner, can deliver.
It will work if ​he can come out with must-have products,” Criswell said.
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DETROIT, July 2 (Reuters) - U.S. automakers have long infused their marketing campaigns with American pride and imagery. ​But this summer’s combination of the nation’s 250th birthday and World Cup matches taking place on U.S. soil has them ‌going full George Washington.
A promotion from Jeep-maker Stellantis (STLAM.MI), opens new tab vows to give away Wrangler SUVs to 100 U.S. residents legally named after the country’s first president – if the underdog Americans take home the World Cup trophy.
Fully loaded with freedom, the tears of our opponents, and a middle finger to the metric system,” said comedian Iliza Shlesinger in a Jeep ad ​for the promotion, speaking in front of a painting of the founding father crossing the Delaware River in a white Wrangler.
Chevrolet is reviving ​its “Heartbeat of America” campaign from last century as part of a yearlong push around the 250th. The General Motors (GM.N), opens new tab ⁠brand recently had a Corvette ZR1X speed around the Indianapolis Motor Speedway to extinguish 250 jumbo-sized birthday candles along the track.
Impassioned or nostalgic events like ​the World Cup and America’s milestone birthday give companies a chance to resonate more deeply with a wider range of potential customers, said Americus Reed, ​professor of marketing at the Wharton School of the University of Pennsylvania.
For the carmakers, there’s an added benefit to the America-first messaging: appeasing U.S. President Donald Trump, who ​has long had a fixation with American car factories and workers.
Following the president’s barrage of tariffs in the spring of 2025, aimed at spurring U.S. manufacturing investment, the automakers ‌touted their ⁠American factory roots across media platforms, from commercials to newspaper ads.
The automaker also launched a Captain America campaign around the 250th, ⁠bringing the superhero’s ​iconic shield to the Jeep Wrangler’s tire cover, which Francois described as a “more playful” ode ​to the country than the traditional flag.
The combination of the World Cup and America 250 landing in the same few months is a rare opportunity for automakers to grab audiences’ attention, ​he added.
These are two very, very special moments in the same year,” Francois said.
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July 2 (Reuters) - Tesla (TSLA.O), opens new tab blew past Wall Street estimates for second-quarter deliveries on Thursday, posting a record for the period as recovering demand in Europe outweighed persistent weakness in North America.
The strong figures suggest Tesla's mainstay auto business is regaining momentum after two straight annual sales declines, ​providing the spending cushion needed to power its ambitions in autonomous driving and artificial intelligence - the main drivers ​of the company's roughly $1.6 trillion valuation.
Tesla expects to spend more than $25 billion on capital expenditure ⁠in 2026, nearly triple the $8.5 billion last year, to expand AI infrastructure, battery production, Cybercab manufacturing and Optimus robots.
I ​think the huge growth in Europe is the key driver for Tesla right now. US sales still appear to be down, ​albeit less than the broader US EV decline, while China is seeing small growth," said Seth Goldstein, senior equity analyst at Morningstar.
Tesla's recovery in Europe was aided by government EV incentives, faster electrification of corporate fleets, higher fuel prices and an easing of the consumer backlash ​over CEO Elon Musk's far-right politics last year.
The company delivered 480,126 vehicles in the April-June period, a record for the ​second quarter and up about 25% from a year earlier, easily surpassing analysts' average estimate of 402,776 vehicles, according to Visible Alpha data.
The company ​expanded its robotaxi operations after launching a limited commercial service in Austin ​in June. Musk has said the company intends to rapidly expand the service through 2026.
Production of the Cybercab, Tesla's purpose-built autonomous vehicle without pedals or ​a steering wheel, is expected to ramp up later this year.
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July 1 (Reuters) - Together AI on Wednesday said it has raised $800 million in a funding round led by Aramco ​Ventures (2222.SE), opens new tab, more than doubling the artificial intelligence startup's ‌valuation to $8.3 billion.
Founded in 2022, the startup's platform lets companies train and run AI workloads on open models such as DeepSeek, ​MiniMax and Kimi at lower costs than closed ​systems.
Vista Equity Partners, General Catalyst, Emergence Capital, Nvidia (NVDA.O), opens new tab, ⁠Salesforce Ventures (CRM.N), opens new tab, March Capital, Pegatron and SentinelOne's (S.N), opens new tab S
Together AI was ​valued at $3.3 billion in a February 2025 funding round led by General Catalyst, which had more than doubled its earlier $1.25 billion valuation from March ​20
The company said it would use the Series ​C funding to widen its offerings as it expands into a ‌provider ⁠of inference, which is the process of running trained AI models
The future of AI won't be owned by a few companies. It will be built by ​millions of ​developers and ⁠businesses, and open-source models are making that possible,” Together AI CEO Vipul Ved Prakash ​said.
The AI startup's annual bookings crossed $1.15 billion ​last ⁠quarter on the back of rising open-source model usage, the company said. It counts firms such as Cursor, Cognition and Decagon among ⁠its ​customers.
Together AI expects its computing ​capacity and infrastructure to expand roughly 50-fold over the next five years.
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The consensus of those discussions at the ECB's annual conference in the windy hills of Portugal was that AI has the power to disrupt everything and ‌create problems they can't even imagine right now: in financial and labour markets, in bank lending, for security, and even for power demand.
If AI overdelivers, it will impact financial stability. If AI underdelivers, it will impact financial stability," Torsten Slok at Apollo Global Management told the arbiters of interest rates around the world at one of the main panel sessions in the resort of Sintra.AI was such an overarching theme in Sintra that the topic found its way ​into every discussion, from immigration and supervision to climate
How do supervisors assess those kind ​of agentic loan decisions? They are a little ⁠bit black box. There's potentially a lack of explainability, and I think that is a key supervisory challenge," Tobias Adrian, a senior IMF official, said.
Defending against malicious threats will become even more expensive, and otherwise viable firms will ​struggle to protect themselves.
AI will also drive a wedge between richer and poorer firms and countries.
In a cyber context, do we need systems that allow one institution to pick up another’s basic functions during disruption?" she said.
Sarah Breeden, a Bank of England ​Deputy Governor, said a ⁠potential solution may be to create some sort of insurance scheme, likening it to deposit insurance in case of bank failures.
The internet proved to be better than anybody imagined, created whole new businesses, but we still got the dotcom bubble," Bank of Canada ​Governor Tiff Macklem said. "It doesn't mean there can't be a period where the market gets ahead of itself, and, and you see an entrenchment."
If AI delivers on some of the most optimistic efficiency expectations, machines could replace ⁠humans en masse, ​leading to large unemployment. This then reduces disposable incomes and pushes the economy into recession, undermining the case for the ​investment.
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WASHINGTON, July 1 (Reuters) - U.S. private payrolls increased less than expected in June, but a sharp decline in planned layoffs pointed to stable ​labor market conditions last month.
Private employment rose by 98,000 jobs last month after an unrevised gain of 122,000 in May, ‌the ADP National Employment Report showed. Economists polled by Reuters had forecast private employment would increase by 118,000.
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STOCKHOLM, July 1 (Reuters) - A Swedish court on Wednesday ordered Alphabet's Google (GOOGL.O), opens new tab to pay about $1.5 billion in antitrust damages to PriceRunner, the price comparison business owned by payments platform Klarna (KLAR.N), opens new tab.
The award, ​equivalent to around 14.3 billion Swedish crowns, comes amid growing scrutiny of ​U.S. Big Tech companies in Europe. It is the largest award ⁠by a Swedish court in a competition case, though well below the ​78 billion crowns PriceRunner had sought, including accrued interest.
The damages are, despite the fact ​that PriceRunner has not achieved full success with its action, without a doubt the largest that has been awarded in a Swedish competition case," said Alderman Linda Kullberg, a court ​official.
PriceRunner sued Google in 2022, seeking about €2.1 billion in damages and alleging it manipulated ​search results. Three months earlier, Google had lost an appeal against a €2.42 billion EU antitrust ‌fine ⁠imposed in 2017 over findings that it gave its own shopping comparison service an unfair advantage over smaller European rivals.
A Google spokesperson said the company had made changes to its shopping advertisements since 2017 that were working well and supporting ​jobs and growth ​for comparison shopping ⁠services.
We don't agree with the court's decision, we are reviewing and will consider our legal options," the spokesperson said.
PriceRunner, bought ​by Sweden's Klarna in 2022, sought compensation for profits it ​said it ⁠lost in Britain since 2008, and in Sweden and Denmark since 2013.
While Klarna welcomed the ruling, the award remains subject to appeal. Klarna's legal team was not ⁠immediately available ​for comment.
Alphabet shares were down around 0.4% in ​U.S. premarket trading, while Klarna shares were up about 7.5%.
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June 30 (Reuters) - A ​federal judge rejected Meta Platforms' (META.O), opens new tab bid to dismiss a lawsuit by 29 U.S. state attorneys general ‌accusing it of designing Facebook and Instagram to addict children and knowingly concealing the harm from the public.
In a decision late Monday, U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California, denied Meta's motion to dismiss claims based on deception, unfair practices and violations ​of the federal Children's Online Privacy Protection Act.
The judge also said Meta did not comply with ​that law's notice and parental consent requirements, and granted summary judgment to the states on ⁠that issue.
Meta said in a statement: “We strongly disagree with these allegations and are confident the evidence will show ​our longstanding commitment to supporting young people.
In a separate statement, California Attorney General Rob Bonta called the decision a "critical win" ​in holding Meta accountable for fueling a mental health crisis among American children.
Meta also said it didn't violate the children's online privacy law because it ​directed Facebook and Instagram to ​a general audience, not ⁠just children under age 13.
In a 38-page decision, Gonzalez Rogers found material factual disputes over whether Meta's social media platforms are addictive, whether ​Meta falsely denied it designed them that way, and whether it "partially" directed the platforms ​at children.
The AGs ⁠present a reasonable interpretation of [Meta's] statements that Facebook and Instagram are not designed in ways that cause teens to compulsively use the platforms to their detriment," the judge wrote.
To the extent plaintiffs’ evidence shows that the platforms are in fact ⁠designed to ​do just that, a jury could reasonably find the statements were ​untrue to a reasonable person," she added.
A trial over California, Colorado, Kentucky and New Jersey's claims against Meta is scheduled for August 18, court records show.
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WASHINGTON, June 30 (Reuters) - The U.S. Supreme Court cleared the way on Tuesday for states to impose restrictions on transgender student athletes, upholding laws in West Virginia and Idaho banning them from female sports teams — a contentious issue enmeshed in the nation's culture wars.
The justices overturned ​decisions by lower courts siding with transgender students who challenged the bans in the two states as violating the U.S. Constitution and a federal anti-discrimination law.
The Idaho and West Virginia laws designate sports teams ‌at public schools including universities according to "biological sex" and bar "students of the male sex" from female teams. Twenty-five other states have similar laws on the books.
The court decided 9-0 that the state laws do not violate the Title IX civil rights statute that bars discrimination in education "on the basis of sex.
The justices, however, divided along ideological lines — with the six conservative justices in the majority — in deciding that the measures also do not violate the Constitution's 14th Amendment guarantee of equal protection under the law. The three liberal justices said a factual dispute in the West ​Virginia case should have precluded resolving that issue.
Consistent with Title IX and the Equal Protection Clause, we hold that the states may maintain women's and girls' sports for biological ​females. They may determine eligibility for women's and girls' sports based on biological sex. The Constitution and Title IX do not require an overhaul of women's and girls' sports throughout ⁠America," Kavanaugh wrote.
The challenge to West Virginia's law was brought by Becky Pepper-Jackson and her mother Heather Jackson. Pepper-Jackson attends high school in Bridgeport, West Virginia, and participates in shot put and discus.
The Idaho challenge was brought by Lindsay Hecox, a transgender student who previously participated in soccer and running clubs at Boise State University, a public university.
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WASHINGTON, June 29 (Reuters) - The U.S. Education Department said on Monday it was finalizing new federal student ‌loan rules that would tie schools' federal loan access to the earning power of graduates, marking the Trump administration's latest pressure on colleges and universities.
Under the new Student Tuition and Transparency System (STATS) and Earnings Accountability rule, undergraduate programs ​will be required to demonstrate that their graduates earn more than the typical high ​school diploma holder, and graduate programs will be required to demonstrate that their ⁠graduates earn more than the typical bachelor's degree holder," the Education Department said in a statement.
If ​a program fails to show at least this modest financial return on investment for its graduates in ​two out of three consecutive award years, it will lose eligibility to participate in the federal Direct Loan program," it said.
The final rule will be published on July 1, the Education Department said, adding that 2027 will be the ​first year that schools will be held responsible for meeting the earnings thresholds.
After three years of ​consistently failing the earnings premium measure, the Department could also terminate eligibility for Title IV of the Higher Education ‌Act (HEA), ⁠including Pell Grant eligibility, for all of an institution's low-earning outcome programs," the Education Department said.
Trump particularly alleges pro-Palestinian protests at universities were antisemitic and supported extremist groups.
Protesters, including some Jewish ​groups, say the government wrongly conflates criticism of Israel's assault on Gaza and ​its occupation of ⁠Palestinian territories with antisemitism and advocacy for Palestinian rights with support for extremism.
Rights advocates have raised concerns about free speech, academic freedom and due process as some colleges have cut down on programs, imposed restrictions ⁠on ​protesters and laid off workers. Judges have in some cases ordered ​the Trump administration to restore frozen federal funds for universities.
Trump has also gutted the Education Department by reducing its staffing while ​shifting many of its roles to other agencies.
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WASHINGTON, June 30 (Reuters) - The U.S. Supreme Court is due to rule on Tuesday on whether to let President Donald Trump restrict birthright citizenship in the United States — one of the top priorities in his crackdown on immigration — in a case involving a right that had long been woven into the fabric of American society.
A lower court blocked Trump's executive order directing U.S. agencies not to recognize the citizenship of children ​born in the United States if neither parent is an American citizen or legal permanent resident, also called a "green card" holder.
Challengers to Trump's order argued that ‌it violates language in the U.S. Constitution's 14th Amendment that confers citizenship to those born in the United States who are "subject to the jurisdiction thereof."
Trump, who has repeatedly tested the limits of presidential power in domestic and foreign policy, issued the order last year on his first day back in office as part of a suite of policies to crack down on legal and illegal immigration. Critics have accused the Republican president of racial and religious discrimination in his approach to immigration.
The Supreme Court weighs in on what it means to be an American citizen just ahead of the July 4 holiday when the United States marks the 250th anniversary of its founding.
Ahead of the ruling, some ​experts had estimated that Trump's directive could affect the legal status of as many as 250,000 babies born each year and could require the families of millions more to prove the citizenship status of their newborns.
The legal challenge to Trump's directive considered ​by the Supreme Court, which has a 6-3 conservative majority, involved a class-action lawsuit filed in New Hampshire by parents and children whose citizenship was threatened by the directive.
The 14th Amendment has long been interpreted as guaranteeing ⁠citizenship for babies born in the United States, with only narrow exceptions such as the children of foreign diplomats or members of an enemy occupying force.
The provision at issue, known as the Citizenship Clause, states: "All persons born or naturalized in the United States, and subject to the jurisdiction thereof, ​are citizens of the United States and of the state wherein they reside."
In other cases, it let Trump expand mass deportation measures on an interim basis while legal challenges play out, such as ending humanitarian protections for certain ​migrants, deporting people to countries where they have no ties and carrying out aggressive immigration raids that can target individuals based on their race or language.
The court, however, has not always ruled in Trump's favor. In February, it struck down sweeping tariffs he pursued under a law meant for use in national emergencies. And on Monday it refused to let him fire Federal Reserve Governor ​Lisa Cook.
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European regulator ESMA called on unauthorized crypto-asset service providers to wind down their businesses in an orderly manner as the MiCA transitional period ends on July 1.
uropean cryptocurrency firms that have failed to obtain a Markets in Crypto Assets (MiCA) license face a deadline this week that could wipe out a large proportion of the market.
Companies licensed by national regulators before the arrival of MiCA, a unifying regulatory framework for Europe’s crypto firms that allows them to offer services across the 27-country trading bloc, may operate only until a transitional period ends on July 1. After that, their permission expires.
I estimate that 80% of the crypto players won't survive after MiCA,” Erald Ghoos, CEO of OKX Europe, said in an interview. “It's not only because of MiCA itself, it's because of the whole width and heaviness of the European regulatory burden. If you have a MiCA license and you want to offer and process stablecoins, you also need to have a PI [Payment Institution] or EMI [Electronic Money Institution] license.”
MiCA first took effect on June 30, 2024, with rules governing stablecoins. The full body of regulations kicked in six months later, though firms with existing registrations were grandfathered in until July 1 this year. MiCA licenses, issued by a national regulator, permit companies to operate throughout the European Economic Area (EEA), which comprises the 27-nation European Union as well as Norway, Iceland, and Liechtenstein.
Lavan Thasarathakumar, a senior adviser at Hogan Lovells, said there will probably be a hardline approach from the July 1 deadline.
Any regulator, jurisdiction, or member states allowing firms to continue to operate under their existing national law would be deemed in breach of EU regulations,” Thasarathakumar said in an interview.
One alternative for smaller participants was recently offered by crypto custody firm BitGo. BitGo Europe, which is authorized by the German regulator BaFin, said firms could move their clients’ wallets inside its regulated custody rather than struggle with MiCA’s regulatory burden.
CEO Mike Belshe said the impending purge of crypto firms in Europe, with only a 17% conversion rate to MiCA compliance, “feels like a setback,” given a growing institutional momentum in Europe, and plans to create a regulated euro stablecoin.
With less than 250 authorized service providers, European users will become the biggest victims of the end of this transitional period,” Belshe said via email.
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BOSTON, June 25 (Reuters) - A federal judge in Boston on ​Thursday blocked implementation of U.S. President Donald Trump'sexecutive order aiming to tighten rules for mail-in voting, preventing it from taking effect ahead of November elections that will decide ‌control of Congress.
U.S. District Judge Indira Talwani sided with, opens new tab a coalition of Democratic-led states that argued that the Republican president is trying to unlawfully interfere with the states' administration of federal elections
The judge declared key parts of Trump's order unconstitutional as she found that Trump had exceeded his authority in trying to overhaul procedures for elections, which since the republic's founding in 1789 have been run by states and local governments.
The Constitution does not grant the President any ​specific powers over elections," wrote Talwani, who was appointed by Democratic President Barack Obama.
She said the president lacked any authority to direct the U.S. Department of Homeland Security to ​compile voter eligibility lists for each state to use and that the U.S. Postal Service had no statutory authorization to adopt any binding regulations ⁠on mail-in voting.
Talwani barred the administration from enforcing Trump's order ahead of the November 3 midterm elections that are set to decide whether Republicans can retain control of Congress and ordered it ​to submit a report by next week describing steps it has taken to comply with her ruling.
Democratic state attorneys general hailed the ruling. They had argued that allowing Trump's order to stand would ​force their states to rush to overhaul election systems, causing chaos and likely disenfranchising eligible voters.
This right to vote is the foundation of our democracy, and today’s decision protects that foundation from another unlawful attack," New York Attorney General Letitia James, a Democrat, said in a statement.
U.S. Postmaster General David Steiner told Congress on Wednesday that under its proposal USPS would not deliver ballots in states where officials refuse to provide lists of voters who received mailed ballots, but said he would comply with any court order ⁠blocking restrictions.
Trump's ​order also directed the U.S. Department of Justice to prioritize the investigation and prosecution of state and local election ​officials who issue federal ballots to people deemed "not eligible" to vote.
But Talwani said Trump lacked authority under the U.S. Constitution to create new criminal offenses and attempt through his order "to intimidate local election officials to use the necessarily incomplete confirmed citizenship ​lists as a resource, lest they face criminal prosecution."
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The Fairshake super PAC supported Adrian Boafo in Maryland, plus other candidates in Maryland, New York and Utah as each ran its primary elections.
he leading crypto political action committee, Fairshake, often backs its favored hopefuls for the U.S. House of Representatives with ad campaigns in the hundreds of thousands of dollars, but it devoted Senate-level money — some $5.5 million — to Adrian Boafo, a Democrat who just won his party's nomination for a Maryland seat on Tuesday.
The state delegate's dominant victory records another success for the industry's super PAC and its affiliates after having notched a big primary election win with its $12 million devoted to Barry Moore's Alabama Senate bid last week.
Boafo's campaign website says he's looking to "provide responsible regulatory clarity for innovators building the next generation of financial tools," though it also included consumer-protection language often associated with crypto-resistance Democrats. Still, he has a record of pro-crypto legislative efforts in his state and favorably completed advocacy group Stand With Crypto's political questionnaire to earn that group's "A" rating.
We went big and we went early," said Geoff Vetter, a Fairshake spokesman, in a Tuesday statement. "We did our part to move Adrian Boafo from fifth place to the halls of Congress. He is poised to be a leader in the largest pro-crypto Congress in history.”
The industry's support didn't go unnoticed. The open seat drew a massive number of Democratic candidates to replace outgoing Rep. Steny Hoyer, and Maryland's U.S. Senator Chris Van Hollen bashed the "obscene amount of big special-interest money" Boafo received in the race.
In the same state, Fairshake backed incumbent Representative April McClain Delaney for $516,000, while also contributing ad spending in other states' Tuesday primaries to Republican incumbent Representative Blake Moore in Utah and $1.3 million for one of the industry's most reliable allies in the House, Representative Ritchie Torres, a New York Democrat. All of them also won their races or were winning, with McClain Delaney in an early lead with votes still being counted.
Fairshake's approach is to flood pro-crypto candidates from both parties with large-scale independent advertising that can't legally be coordinated with the campaigns. The ads don't typically mention crypto as a political issues but are instead just calculated to use whatever political message would be most helpful for the candidates.
Think Big PAC, an AI-focused group that shares many of the same funders as Fairshake and is represented by former Fairshake frontman Josh Vlasto, was more direct, attacking New York congressional candidate Alex Bores as being tied to former FTX chief Sam Bankman-Fried.
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EU lawmakers backed a legal framework to develop an ECB digital currency by 2029 so the continent can stop relying entirely on U.S. credit card and stablecoin giants.
The European Central Bank (ECB) scored a victory after the European Parliament’s influential Economic and Monetary Affairs (ECON) committee voted to approve the legal framework for a digital euro on Tuesday.
The committee also directly mandated the immediate start of final "trilogue" negotiations between European Union (EU) member states and the Parliament to hammer out the final law.
The vote ends three years of discussions between central bankers and commercial lenders concerned over losing deposit revenue.
The main goal behind the deployment of a central bank digital currency (CBDC) is not just about modernizing payments, but to maintain the bloc’s autonomy of the monetary system. ECB Chair Christine Lagarde has long-argued in favor of a CBDC to stave off the U.S. dollar-pegged stablecoin dominance in Tether’s USDT and Circle’s (CRCL) USDC.
Lagarde pushed back against public concerns over financial surveillance, asserting that cash isn't going anywhere, adding that between the digital euro and physical banknotes, "one does not exclude the other."
The EU has also pointed to nearly two-thirds of all card transactions in the eurozone being processed by non-European companies, mainly Visa (V) and Mastercard (MA).
Strengthening the resilience of payments in Europe has become a geopolitical necessity," Markus Ferber, a leading member of the ECON committee said on Tuesday.
The EU's central bank digital euro approval comes just hours after U.S. Senate voted to place a four-year ban on a CBDC. The bill now heads to the House of Representatives. If they follow suit it then goes to President Donald Trump for his signature.
Commercial banks successfully lobbied for strict holding limits on how much a citizen can keep in a digital wallet to avoid a mass exodus of cash from traditional accounts during a crisis.
The ECB will now undertake a 12-month pilot phase using a beta version to test the infrastructure in real-world scenarios with select merchants and payment service providers.
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Senate Democrats call for hearings into whether a $500 million investment by UAE officials in World Liberty Financial influenced Trump's policy decisions.
enate Democrats called for immediate hearings into UAE officials' huge investments in President Donald Trump's family crypto venture, World Liberty Financial, and subsequent decisions by the Trump administration that seemingly favored the Gulf country, in a letter dated June 23.
Senators Elizabeth Warren, Richard Blumenthal, Gary Peters, Richard Durbin, and Ron Wyden requested that multiple Senate committees hold hearings on a deal in which lieutenants to an Abu Dhabi royal signed a deal with the Trump family to purchase a 49% stake in World Liberty Financial for half a billion dollars.
The deal closed four days before President Trump's inauguration last year, the letter said, adding that as part of the agreement, foreign buyers reportedly paid $218 million upfront to entities tied to the Trump family and Steve Witkoff, President Trump's lead diplomat for the Middle East and Russia.
The arrangement was reportedly backed by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE's National Security Advisor. This "marked something unprecedented in American politics: a foreign government official taking a major ownership stake in an incoming U.S. president's company," according to the letter.
CoinDesk reached out to both WLFI and the UAE government for a comment on the matter.
The investment bolsters concerns about foreign influence, originally stemming from a major investment by MGX, a UAE state-backed investment company, that boosted the market capitalization of the Trump family's stablecoin by almost $2 billion overnight.
Here's where it gets interesting. Within months of the deal, the Trump Administration took policy decisions that benefited the UAE, according to the letter. In May 2025, it approved a $1.4 billion arms sale to the country, despite congressional concerns about weapons flowing to armed groups in Sudan where more than 150,000 people have died.
In the same month, Treasury created a "Known Investor Pilot" program to streamline investment approvals through CFIUS, a fast-track process that the UAE had lobbied for.
The Department of Commerce also rescinded Biden-era chip export restrictions, allowing the UAE to receive up to triple or quadruple the number of advanced chips it previously could have imported. It authorized G42, a UAE AI company chaired by Sheikh Tahnoon bin Zayed Al Nahyan, to receive 35,000 Nvidia Blackwell chips. The deal was worth over a billion dollars.
But U.S. intelligence officials reportedly caught G42 providing U.S. technology that was used to enhance China's missile capabilities. Though G42 allegedly committed to divesting its Chinese holdings, reports suggest the firm attempted to obfuscate its ties to Beijing by moving its business holdings in China to a new investment firm.
The senators demanded that Trump Administration officials "explain under oath what they knew and when about payments to the families of the President and his lead diplomat for the region."
They must also explain how they will restore faith that the Administration is representing the best interests of the American people rather than the personal interests of the President and his close associates. We therefore ask that you immediately hold hearings on these urgent matters," the letter said.
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The Swiss banking group’s Austrian subsidiary, AMINA EU, will spearhead a European market launch and accelerated expansion into the trading block.
wiss digital asset bank AMINA has received a regulatory license from Austria’s Financial Market Authority (FMA) to operate cryptocurrency services across Europe under the Markets in Crypto Assets (MiCA) regulatory regime.
Austria’s approval paves the way for AMINA EU’s launch (the official entity being licensed by the FMA is AMINA [Austria] AG), to offer crypto trading, custody, portfolio management services and staking to professional investors, including family offices, corporates and financial institutions, AMINA said.
AMINA (previously known as SEBA Bank) holds a banking license from the Swiss Financial Market Supervisory Authority (FINMA), as well as crypto licenses in Hong Kong and Abu Dhabi. The crypto bank is positioned in the private client and accredited investor space, working with the likes of private bank Julius Baer and LGT Bank, a banking and asset management group owned by the Liechtenstein Princely Family.
We offer everything from bank accounts to crypto-bank loans, all done in a regulated way,” Franz Bergmueller, CEO of AMINA Bank, said in an interview with CoinDesk. “We are also now serving these new digital asset treasury companies, and we started doing tokenization years ago – our gold token product is skyrocketing at the moment.”
Austria was chosen as AMINA EU’s European entry point because of its regulatory excellence and strong commitment to investor protection, according to a press release. Austria is the European regulatory base for well-known crypto firms like Bitpanda and Bybit, while Kucoin is known to be awaiting authorization there.
We received a full banking license from FINMA in Switzerland, so I think we can make comparisons,” Bergmueller said regarding Austria as the chosen crypto base for MiCA. “I can tell you the FMA in Vienna has the highest standards you can imagine.”
The arrival of a unified regulatory framework for crypto firms across the European Union demonstrates the growing market maturity of digital assets. That said, MiCA rollout has not been without wrinkles. Indeed, Austria’s FMA joined the French and Italian financial regulators in calling for tighter EU control of MiCA back in September.
Three years back, I was positively shocked that Europe could agree on crypto,” Bergmueller said. “And actually I think they have not done a bad job defining everything. Of course, it’s a super-young industry and there will be new tech developments. It’s a constant development.”
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TOKYO, June 24 (Reuters) - SoftBank (9984.T), opens new tab founder and CEO Masayoshi Son told shareholders on Wednesday that artificial intelligence is still in its early stages and any ​talk of a bubble is "an insult to AI."
"I think it's blasphemy against AI if ‌you say it's a bubble," Son said at the Japanese conglomerate's annual general meeting
The AI investment boom has driven up valuations even as investors question the sustainability of the rally, with ​SoftBank's share price boosted by Son's all-in bet on OpenAI.
Son has experienced market booms and ​busts during his career, including the dot-com bubble and the COVID-19 pandemic, when his ⁠portfolio fell into the "valley of the coronavirus."
SoftBank's other investments include robotics and the group is building ​data centres in the U.S.
Tokyo Electric Power Co (9501.T), opens new tab is looking to bring in external capital, and Son said ​his group was seeking to invest.
"If (TEPCO) were to join our group, we would increase power supply and bring AI data centers to Japan," he sai
The entrepreneur, 68, said he will lead the company into his 70s ​to bring ⁠about "artificial superintelligence," which he defines as being 10,000 times smarter than a human.
"I have become greedier," Son said. "I would like to do more over the next 10 to 15 years. I will stay healthy as long ⁠as I ​can.
One shareholder, who described herself as a "simple housewife," asked Son ​to nominate her son to the board of directors
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June 24 (Reuters) - Chinese technology company ByteDance, the developer of ​TikTok, is in preliminary ‌talks with banks for its largest offshore loan ​of about $20 billion, Bloomberg ​News reported on Wednesday, ⁠citing people familiar with ​the matter.
The company has ​approached banks for a loan that may carry a three-year ​tenor, with an ​option to extend it to as ‌long ⁠as five years, the report said.
ByteDance did not immediately respond to a ​Reuters ​request ⁠for comment.
The company is emerging as ​a major spender ​on ⁠AI infrastructure, ramping up spending and partnerships to secure ⁠chips ​and chip design ​services.
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