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Secretary Lutnick visited IBM in Yorktown Heights, New York, to see that leadership firsthand. American innovation and the Commerce Department’s cutting-edge CHIPS deals are driving the industry forward.
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Iran will soon join the New Development Bank, the development lender established by the BRICS group of nations, central bank governor Abdolnaser Hemmati said ahead of a BRICS finance meeting in India.
"The most important result of cooperation among BRICS member countries is the establishment of the New Development Bank, and our country will soon become a member of this bank," — Hemmati said.
Hemmati said Iran believed BRICS members could conduct trade using their national currencies and was seeking bilateral and trilateral monetary cooperation with other members.
#BRICS
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Lin Junyang, former head of Alibaba's Qwen large language model, has returned with a new startup just five months after his departure. Pragmatik Labs has secured funding led by Sequoia China and Gaorong Capital, with participation from Tencent and Shanghai Future Industry Fund.
The company is developing agents for both digital and physical worlds. Digital agents will handle knowledge work and enterprise operations, whilst physical agents will operate in real-world environments through robotics and physical devices. Pragmatik aims to extend beyond short-term tasks toward long-horizon challenges, potentially including scientific research applications.
#BRICS
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By moving its digital pound exploration into Phase 2, the BOE is testing whether public stablecoin infrastructure and central bank money can coexist in a single payment flow for trade finance. The BOE has been experimenting with a CBDC and the distributed-ledger technology that forms the backbone of the blockchain since 2024.
At the heart of the experiment is the improvement of trade finance, which would particularly benefit small businesses, according to Otto Jacobsson, U.K. chapter lead at the Digital Assets Association. Trade-finance delays make it harder for those firms to prove creditworthiness and access funding.
“If these processes can become faster and more efficient, U.K. businesses could unlock working capital sooner and make it easier to finance international trade,”— Jacobsson said.
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⚡️🇺🇸 US Launches Effort to Speed Trade in AI Goods Between Allies
The Trump administration announced a new program aimed at accelerating shipments between the US and its closest trading partners of goods considered critical to developing AI.
The State Department will create a pilot platform in Panama intended to fast track trade in products essential to AI as part of Pax Silica, a US-led initiative created to strengthen supply chains between allies. The agency is committing up to $50 million in foreign assistance funding to develop and deploy the platform, which will use AI technology to speed the logistics process.
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The Trump administration announced a new program aimed at accelerating shipments between the US and its closest trading partners of goods considered critical to developing AI.
The State Department will create a pilot platform in Panama intended to fast track trade in products essential to AI as part of Pax Silica, a US-led initiative created to strengthen supply chains between allies. The agency is committing up to $50 million in foreign assistance funding to develop and deploy the platform, which will use AI technology to speed the logistics process.
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NYU Abu Dhabi (NYUAD) has received a generous renewed grant from Ripple’s University Blockchain Research Initiative (UBRI), extending a long-standing collaboration to advance blockchain research, education, and innovation. The six-year grant will support work led by Professors Raša Karapandža and Yaw Nyarko, Co-Directors of NYUAD’s Center for Technology, Economics and Development (CTED).
“NYU Abu Dhabi has become a cornerstone of UBRI’s work in the Middle East. Through hands-on integration with the XRP Ledger in Professor Karapandža’s courses and applied research initiatives like Volta, the team is equipping students and researchers to build, test, and deploy real-world blockchain solutions,” — said Lauren Weymouth, Senior Director of University Partnerships at Ripple.
#Stellar
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⚡️💫 NASA published the first images of the beginning of the total solar eclipse in Spain
The first total solar eclipse in 27 years will be visible in parts of Greenland, Iceland, northern Russia, the Atlantic Ocean, Spain, and a small corner of Portugal.
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The first total solar eclipse in 27 years will be visible in parts of Greenland, Iceland, northern Russia, the Atlantic Ocean, Spain, and a small corner of Portugal.
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Google has now responded to the backlash and removed the misinformation. In a public response on X, the company said the result was not manually changed by anyone at Google and blamed vandalism affecting a public information source.
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⚡️🇺🇸 Karoline Leavitt will step down as White House press secretary at the end of August, Donald Trump announced
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"Karoline will now be one of my top outside advisors, and an influential voice within the Republican Party," — he added.
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Miden is planning to introduce a privacy-focused stablecoin backed by Circle Internet’s USDC at the same time as the zero-knowledge blockchain prepares to debut its mainnet.
Users will be able to hold and transfer USDCx without publicly revealing balances, counterparties or transaction histories. The stablecoin is expected to go live at the same time as the Miden mainnet, targeted for the end of this month.
The product targets one of the biggest limitations of using public blockchains for institutional finance: transparency.
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Bank of America plans to deploy $250 billion by July 2027 to support U.S. digital and infrastructure projects, a move it says will boost the country's economic growth and help create tens of thousands of jobs.
The Wall Street bank said its "Critical Infrastructure Finance Initiative," launched on the heels of the nation's 250th anniversary celebrations, will provide primary market lending, investments, capital markets services, and banking and advisory offerings.
"Meeting America's growing infrastructure needs requires mobilizing capital at scale across increasingly interconnected sectors," — said Karen Fang, global head of infrastructure and sustainable finance at Bank of America.
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"We advance AMIE, our research medical AI system, to conduct real-time video consultations, with a first-of-its-kind demonstration of expert-level performance in a randomized controlled study with simulated consultations," — Google wrote.
This work demonstrates that the transition from text-based to audio-visual clinical AI is achievable at expert-level quality. AMIE (Video) engages with the perceptual richness of clinical practice, observing non-verbal cues, guiding physical examination, and conversing naturally through spoken dialogue — capabilities that more closely approximate the experience of a telehealth video encounter.
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The SEC has issued a no-action letter to Franklin Templeton, clearing the way for the firm’s traditional registered funds to invest in its blockchain-based OnChain U.S. Government Money Fund.
❗️ "Essentially, it opens the door for Franklin’s registered funds (mutual funds, ETFs, etc) to hold its OnChain fund despite not technically satisfying 1940 Act custody rules," — Bloomberg analyst James Seyffart said on X.
The decision effectively lets conventional Franklin funds access some of the operational advantages of its OnChain U.S. Government Money Fund (FOBXX), often called BENJI, including faster transaction processing and more frequent pricing updates.
Under the arrangement, Franklin Templeton Investor Services will create and control blockchain wallets on Stellar for the investing funds and keep the private keys.
Franklin Templeton’s blockchain-based custody plan gets SEC staff backing, paving the way for future digital asset growth and investment opportunities.
#Stellar
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Melbourne indie developer Adam Lyttle didn’t want his son playing Roblox because he couldn’t be sure who he was interacting with. Instead, he created his own browser-based obstacle-course game with the same addictive mechanic instead.
"The game is populated with recordings of other play throughs (giving the illusion of playing with others). And there’s even a chat from the bots talking to each other. He can talk with the bots and they chat back using ChatGPT," — Adam said.
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Under the partnership, OCI customers will be able to directly access Quantinuum’s Helios, the most accurate commercial quantum computer in the world, through OCI’s quantum service, alongside OCI’s high-performance computing (HPC) and GPU infrastructure.
Together, Quantinuum and Oracle plan to explore how hybrid quantum-AI infrastructure could address some of the most computationally intensive challenges facing enterprises and broaden access for universities and research institutions advancing scientific discovery and education. The partnership reflects a shared vision that the future of enterprise computing will be built on the convergence of AI, classical supercomputing, and quantum computing.
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