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Coinbase on Thursday laid out the full scope of a security breach first disclosed to the SEC, confirming that a group of rogue contractors were bribed to pull customer data from internal systems and then demand a $20 million payoff.  Coinbase chief executive Brian Armstrong said the cryptocurrency exchange “won’t fund criminal activity” and is instead setting up a $20 million reward fund for information that leads to the arrest and conviction of the extortionists. In a filing with the Security and Exchanges Commission, Coinbase said criminals made contact May 11 claiming to possess data on “less than one percent”…

Brussels is drawing up plans to use trade tariffs and capital controls to maintain financial pressure on Russia, even if Hungary decides to use its veto to block an extension of the European Union’s sanctions regime, which lapses in July of this year. The European Commission has told ministers that a large part of the EU’s sanctions, which included freezing 200 billion euros ($224bn) of Russian assets, could be adapted to a new legal framework to bypass Budapest’s veto, according to the United Kingdom’s Financial Times newspaper. Viktor Orban, Hungary’s prime minister, has repeatedly held up EU boycotts on Moscow…

When examining the on-again, off-again tariff proclamations of United States President Donald Trump during his second term in office, it is unclear what has actually been achieved. What is clear is that Trump’s tariff announcements have roiled global markets, wiping out trillions in value, and leaving many businesses stumped on how to plan for the future amid the never-ending uncertainty. Within days of being sworn into office for his second term, Trump imposed 25-percent tariffs on Mexican and most Canadian imports and 10 percent on China, arguing they needed to do more to stem the flow of fentanyl and undocumented…

WorkFusion has teamed up with 1LoD to produce a comprehensive Financial Crime Benchmarking Survey & Report, offering fresh insight into how top global banks are managing the operational complexities of anti-money laundering (AML) and know your customer (KYC) compliance.According to Workfusion, the study delves into four key areas – operating models, staffing, technology, and resources – revealing common challenges and how institutions are adapting in response.The data highlights just how heavily banks are weighed down by manual processes. A striking 94% of banks pinpoint manual workloads as a major operating challenge, while 80% indicate technology as the area requiring the…

Despite ongoing fears around tariffs and inflation, SymphonyAI’s newly released Grocery Sentiment Index (GSI) paints a surprisingly optimistic picture for the grocery sector in Q2 2025. The AI-driven index offers a fresh take on sentiment analysis by measuring real-world consumer behaviour rather than relying on traditional survey responses.Unlike conventional sentiment trackers that rely on what consumers say they plan to do, the GSI analyses actual purchasing data from 64 million households across the US, Europe, and Asia. This data covers over 600 million transactions and six billion individual product purchases. Developed using SymphonyAI’s proprietary AI technologies, the GSI offers a…

Designing seamless, secure, and user-friendly experiences in financial technology has always presented unique challenges. But with artificial intelligence (AI) becoming more deeply embedded in the design process, the landscape of FinTech UX/UI is undergoing a major transformation. AI is unlocking smarter, faster, and more tailored experiences for users—while reshaping the very role of the designer.Devexperts, a software developer for capital market firms, recently delved into how AI is revolutionising UX/UI design services in FinTech.Designing for FinTech has always presented unique challenges. Financial applications differ from other types of apps because they involve greater complexity and risk. Unlike social or entertainment…

Foreign investment in China’s bond market has steadily increased, but international exposure to local government bonds (LGBs) remains limited. Despite accounting for 28% of China’s bond market by value, LGBs make up less than 1% of foreign holdings, as concerns around credit risk, liquidity and transparency continue to deter investors.LSEG recently delved into the potential investment opportunities in China’s local government bonds. While non-residents have shown greater confidence in Chinese government bonds (CGBs) and policy bank bonds—often seen as more liquid and safer options—LGBs have struggled to gain comparable traction. As of January 2025, offshore holdings were concentrated in CGBs and…

By Louis Jacobson and Loreben Tuquero | PolitifactPublished On 15 May 202515 May 2025The administration of US President Donald Trump says it has accepted a plane worth an estimated $400m from the state of Qatar. While Trump is president, the White House says it would be used as the new Air Force One, then it would go to Trump’s presidential library after his term ends. The aircraft would become the most expensive gift from a foreign government ever to a US elected official, ABC News reported. But some members of Congress say accepting it would be unconstitutional. When asked about the…

United States President Donald Trump has claimed Washington is nearing an agreement with Iran to resolve a long-running nuclear dispute, despite ongoing diplomatic hurdles. “We’re in very serious negotiations with Iran for long-term peace,” Trump said in Qatar during the second leg of his Gulf tour on Thursday, before heading to the United Arab Emirates. “We’re not going to be making any nuclear dust in Iran,” he said. “I think we’re getting close to maybe doing a deal without having to do this.” Trump said he was basing his optimism on new statements by Iran. “You probably read today the…

American steel giant Nucor Corporation revealed on Wednesday that production has been disrupted due to a cyberattack. Nucor, which advertises itself as the largest steel manufacturer and recycler in North America, informed the SEC that it recently detected a cybersecurity incident involving unauthorized access to its IT systems. In response to the incident, the company took some systems offline and implemented other unspecified containment, remediation or recovery measures.  It has also informed law enforcement and called in outside cybersecurity experts to assist with the investigation.  “As of the date of this filing and in an abundance of caution, the Company…