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Xi Jinping warns against China's overinvestment in EVs and AI

Chinese President Xi Jinping has bluntly questioned a nationwide rush of investment into the AI and EV industries. As deflation anxiety grows and Trump’s trade war with China ramps up, the world’s second largest economy is turning to fast-growth tech industries to remain competitive. But Xi appears to think that the strategy is flawed. As reported by the Financial Times , China's President sent out a pointed message about over-investment at the two-day Central Urban Work Conference in Beijing.

No More Waiting: New Crypto Law Unlocks Cheaper, Faster Money for Everyone

For more than a decade, cryptocurrency lived in legal limbo. It was too weird to regulate, too volatile to trust, and too new for Washington to take seriously. That just changed. The U.S. House of Representatives has passed the GENIUS Act, the first major federal law regulating stablecoins, digital currencies backed by the U.S. dollar. The bill now heads to President Trump’s desk, where it’s expected to become law. Here’s what it means for you, your money, and the financial system around you.

Fighting AI with AI, finance firms prevented $5 million in fraud - but at what cost?

d3sign/Getty Imageds When most people think of AI, the first thing that probably comes to mind isn't superintelligence or the promise of agents to boost productivity, but scams. There've always been fraudsters among us, that small percentage of the population who'll use any means available to swindle others out of their money. The proliferation of advanced and easily accessible generative AI tools in recent years has made such nefarious activity exponentially easier. Also: Meet ChatGPT agent,

The New Intern on Wall Street Is an AI, and It’s Already Taking Jobs

The transformation underway in finance should give pause to anyone who still thinks artificial intelligence is a distant threat. On July 15, Wall Street met its most overqualified and tireless intern. AI safety and research company Anthropic, a chief rival to OpenAI, unveiled its new “Financial Analysis Solution,” an enhanced version of its Claude AI assistant designed to take over the research, modeling, and compliance grunt work that finance teams typically rely on junior analysts to perform.

Claude for Financial Services

Today, we're introducing a comprehensive solution for financial analysis that transforms how finance professionals analyze markets, conduct research, and make investment decisions with Claude. The Financial Analysis Solution unifies your financial data—from market feeds to internal data stored in platforms like Databricks and Snowflake—into a single interface. Access your critical data sources with direct hyperlinks to source materials for instant verification, all in one platform with expanded

GOP’s pro-industry crypto bills could financially ruin millions, lawmaker warns

It's "Crypto Week" in Congress, and experts continue to warn that legislation Donald Trump wants passed quickly could give the president ample opportunities to grift while leaving Americans more vulnerable to scams and financial ruin. Perhaps most controversial of the bills is the one that's closest to reaching Trump's desk, the GENIUS Act, which creates a framework for banks and private companies to issue stablecoins. After passing in the Senate last month, the House of Representatives is hopi

Anthropic launches finance-specific Claude with built-in data connectors, higher limits and prompt libraries

Want smarter insights in your inbox? Sign up for our weekly newsletters to get only what matters to enterprise AI, data, and security leaders. Subscribe Now As some regulated enterprises cautiously expand their use of AI, platform and model makers are starting to offer bespoke versions to specific industries. Anthropic is making its first step into that direction with the new Claude for Financial Services, essentially a special version of its Claude for Enterprise tier, that could soothe some

A Recession Could Be Hiding in Plain Sight. Here’s the Best Advice to Prepare

Recession risks are down, but keep your guard up. Getty Images/Jeffrey Hazelwood/CNET In April, recession fears surged after President Trump began his chaotic tariff campaign. Forecasts for a severe economic downturn hit 66%, according to Polymarket. As Trump deferred some of his most aggressive trade proposals, those forecasts leveled out, but the contours of a potential recession are hard to ignore. Growth in the first quarter of 2025? Down. Jobless claims? Sharply higher. Consumer sentiment

Mystery Man Shines a Spotlight on the Shadiness of Trump’s Crypto Venture

Last month, the Aqua 1 Foundation, founded by Dave Lee, purchased $100 million worth of tokens from the Trump family’s cryptocurrency venture World Liberty Financial (WLF. Someone putting cash directly into the President’s coffers is a normal thing in the Trump era, but there’s something odd about this particular purchase. According to Reuters, Aqua 1 is now the largest publicly known holder of World Liberty Financial tokens, but no one seems to know what the business is or who runs it. Aqua 1

MCP isn’t KYC-ready: Why regulated sectors are wary of open agent exchanges

Want smarter insights in your inbox? Sign up for our weekly newsletters to get only what matters to enterprise AI, data, and security leaders. Subscribe Now For something launched in November, the Model Context Protocol (MCP) has begun amassing a large number of users, all but guaranteeing the mass adoption needed to make it an industry standard. But there is a subset of enterprises that are not joining the hype for now: regulated industries, especially financial institutions. Banks and other

Two charged in $650 million global crypto scam that promised 300% returns

A U.S. Justice Department logo or seal showing Justice Department headquarters, known as "Main Justice," is seen behind the podium in the Department's headquarters briefing room before a news conference with the Attorney General in Washington, January 24, 2023. Federal prosecutors have charged two men in connection with a sprawling cryptocurrency investment scheme that defrauded victims out of more than $650 million. The indictment, unsealed in the District of Puerto Rico, accuses Michael Shan

AI will boost the value of human creativity in financial services, says AWS

shomos uddin/Getty Images Financial services firms are making early gains from artificial intelligence (AI), which is not surprising given that finance is historically an industry that embraces new technologies aggressively. Also: The AI complexity paradox: More productivity, more responsibilities One surprising outcome is that AI might end up making the most critical functions of banking, insurance, and trading, or the creative functions that require human insights, even more valuable. "Wha

CFOs want AI that pays: real metrics, not marketing demos

This article is part of VentureBeat’s special issue, “The Real Cost of AI: Performance, Efficiency and ROI at Scale.” Read more from this special issue. Recent surveys and VentureBeat’s conversations with CFOs suggest the honeymoon phase of AI is rapidly drawing to a close. While 2024 was dominated by pilot programs and proof-of-concept demonstrations, in mid-2025, the pressure for measurable results is intensifying, even as CFO interest in AI remains high. According to a KPMG survey of 300 U.

The Download: Introducing the Power issue

Introducing: the Power issue Energy is power. Those who can produce it, especially lots of it, get to exert authority in all sorts of ways. The world is increasingly powered by both tangible electricity and intangible intelligence. Plus billionaires. The latest issue of MIT Technology Review explores those intersections, in all their forms. Here’s just a taster of what you can expect from our latest issue: + Are we ready to hand AI agents the keys? We’re starting to give AI agents real aut

The Bank Secrecy Act is failing everyone. It’s time to rethink financial surveillance.

The US is on the brink of enacting rules for digital assets, with growing bipartisan momentum to modernize our financial system. But amid all the talk about innovation and global competitiveness, one issue has been glaringly absent: financial privacy. As we build the digital infrastructure of the 21st century, we need to talk about not just what’s possible but what’s acceptable. That means confronting the expanding surveillance powers quietly embedded in our financial system, which today can tra

Show HN: TrendFi – I built AI trading signals that self-optimize

This signal was generated by AI for research purposes only. It is not financial advice, and profitability is not guaranteed. Always use your judgment or consult a licensed financial advisor before making investment decisions. Early indications suggests Bitcoin may be on the verge of a bullish reversal. A significant upward move could unfold.

Senate passes GENIUS Act—criticized as gifting Trump ample opportunity to grift

Critics have long warned that Donald Trump's pro-cryptocurrency push as president, coupled with his links to his family's growing crypto empire, create substantial conflicts of interest that must be probed. But so far, nothing has stopped Trump's family from seemingly benefiting from the presidency while expanding their empire. And now, Trump is rushing regulation through Congress that many Democrats fear could create his biggest conflict of interest yet. On Tuesday, the Senate passed the GENI

SAP S/4HANA Cloud vs On-Premise: A Comparative Analysis for Financial Systems

Introduction The “SAP S/4HANA Cloud” and “SAP S/4HANA On Premise” are two deployment options which address the independent needs of the business. “SAP S/4HANA Cloud” is a Software as a Service (SaaS) hosted product, maintained by SAP, and automatically upgraded on a quarterly basis. It provides scalability and agility, which is appealing to a mid sized company for its ability to do quick innovation and lower IT infrastructure cost to maintain its financial architecture. However, the “SAP S/4HA

Aspora gets $50M from Sequoia to build remittance and banking solutions for Indian diaspora

India has been one of the top recipients of remittances in the world for more than a decade. Inward remittances jumped from $55.6 billion in 2010-11 to $118.7 billion in 2023-24, according to data from the country’s central bank. The bank projects that figure will reach $160 billion in 2029. This means there is an increasing market for digitalized banking experiences for non-resident Indians(NRIs), ranging from remittances to investing in different assets back home. Aspora (formerly Vance) is

Aspora gets $50M from Sequioa to build remittance and banking solutions for Indian diaspora

India has been one of the top recipients of remittances in the world for more than a decade. Inward remittances jumped from $55.6 billion in 2010-11 to $118.7 billion in 2023-24, according to data from the country’s central bank. The bank projects that figure will reach $160 billion in 2029. This means there is an increasing market for digitalized banking experiences for non-resident Indians(NRIs), ranging from remittances to investing in different assets back home. Aspora (formerly Vance) is

Unit Network raises $18M for decentralized platform enabling real-world and digital asset trading

Unit Network, a decentralized financial ecosystem enabling trading of real-world and digital assets through tokenization, has raised $18 million. The venture capital investment was led by industry leaders such as the Blockchain Founders Fund and Outlier Ventures, alongside notable entrepreneurs including Cristina Venture (White Star Capital), Diego Gutiérrez Zaldívar (Rootstock), Joshua Seims (Metastable Capital), Richard Wang (Draper Dragon Fund), Thomas Hessler (Zanox), Yuval Rooz (DigitalAss