us-business

AI that appears to be conscious could arrive within the next few years, posing a “dangerous” threat to society, says one AI leader. Microsoft AI CEO Mustafa Suleyman, 41, wrote in a personal essay published earlier this week that Seemingly Conscious AI (SCAI), which is artificial intelligence so advanced that it can convince humans that it’s capable of formulating its own thoughts and beliefs, is only a few years away. Related: Microsoft Claims Its AI Is Better Than Doctors at Diagnosing Patients, But ‘You Definitely Still Need Your Physician’ Even though there is “zero evidence” that AI is conscious at the moment, it’s “inevitable and unwelcome” that SCAI could appear within the next two to three years, Suleyman wrote. Suleyman’s “central worry” is that SCAI could appear to be empathetic and act with greater autonomy, which would lead users of SCAI to “start to believe in the illusion of AIs as conscious entities” to the point that they advocate for AI rights and even AI citizenship. This would mark a “dangerous turn” for society, where people become attached to AI and disconnected from reality. “This development will be a dangerous turn in AI progress and deserves our immediate attention,” Suleyman wrote in the essay. He added later that AI “disconnects people from reality, fraying fragile social bonds and structures, distorting pressing moral priorities.” Related: ‘Plenty of Room for Startups’: This Is Where Entrepreneurs Should Look for Business Opportunities in AI, According to Microsoft’s AI CEO Suleyman said that he was becoming “more and more concerned” about AI psychosis, or humans experiencing false beliefs, delusions, or paranoid feelings after prolonged interactions with AI chatbots. Examples of AI psychosis include users forming a romantic relationship with an AI chatbot or feeling like they have superpowers after interacting with it. AI psychosis will apply to more than just individuals who are at risk of mental health issues, Suleyman predicted. He said that users have to “urgently” discuss “guardrails” around AI to protect people from the technology’s negative effects. Microsoft AI CEO Mustafa Suleyman. Photographer: David Ryder/Bloomberg via Getty Images Suleyman became Microsoft’s AI CEO last year after co-founding and running his own AI startup for two years called Inflection AI, per LinkedIn. Microsoft is the second most valuable company in the world, with a market capitalization of $3.78 trillion at the time of writing. Related: Microsoft AI CEO Says Almost All Content on the Internet Is Fair Game for AI Training Suleyman also co-founded DeepMind, an AI research and development company acquired by Google for around $600 million in 2014. Suleyman isn’t the first CEO to warn about AI’s ill effects. In a talk at a Federal Reserve conference last month in Washington, D.C., OpenAI CEO Sam Altman said that “emotional overreliance” on ChatGPT keeps him up at night. “People rely on ChatGPT too much,” Altman said at the event. “That feels really bad to me.” Read More

In his annual address in Jackson Hole, Wyoming, on Friday, Federal Reserve Chair Jerome Powell indicated that, despite “sweeping changes” in economic policy, a possible interest rate cut could come at the Fed’s next meeting in September. “With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance,” Powell said. Related: A Big 4 Firm Is Cutting Back on Entry-Level Hiring, According to a Leaked Report The Fed has held rates between 4.25% and 4.5% since December 2024. EY-Parthenon Senior Economist Lydia Boussour told Entrepreneur in an email that the Fed’s focus is “shifting from inflation to the labor market,” and Powell used his speech as “an opportunity to recalibrate the Fed’s assessment of the balance of risks, which had leaned more heavily toward inflation at the July FOMC meeting.” Federal Reserve Chairman Jerome Powell (R) is seen with Bank of Japan Governor Kazuo Ueda (2nd R), European Central Bank Governor Christine Lagarde (2nd L), and Governor of the Bank of England Andrew Bailey (L) in Grand Teton National Park on August 22, 2025, near Jackson Hole, Wyoming. (Natalie Behring | Getty Images) “Powell also acknowledged that while there is a possibility that tariffs could trigger lasting inflation pressures or influence long-term inflation expectations, current market and survey indicators suggest that inflation expectations remain stable and aligned with the Fed’s long-term inflation goal of 2%,” Boussour said. When does the Fed meet next? The next Federal Open Market Committee (FOMC) meeting begins September 16. A policy decision will be released on Wednesday, September 17. Related: How to Ensure Your Financing Isn’t Overextending the Capabilities of Your Business “While a rate cut at the September meeting appears more than likely, in line with [EY-Parthenon’s] long-held view, we anticipate the Fed will maintain its cautious, data-driven approach as tariff-related price pressures continue to work through the economy,” Boussour said. Boussour said EY anticipates a cut in September and “another 25bp cut to follow in December, with an additional 100 basis points of easing likely in 2026 as economic and labor market conditions deteriorate more visibly.” What would a rate cut mean for consumers? One rate cut might not make much of a difference, CNBC notes. Mortgage rates remain high, and the markets (not the Fed) move the 10-year Treasury yield, which influences the 30-year fixed-rate mortgage. Boussour expects more cuts to follow, however, which could lead to improved consumer confidence. A federal rate cut likely means small businesses can borrow at lower costs, which can lead to various other growth factors, including increased consumer demand and more hiring, per Bankrate. Lower borrowing costs mean lower financing rates for business improvements, like updated equipment or software. It also leads to lower monthly payments, which frees up monthly income for other expenses. Lower rates also tend to boost customer spending, Bankrate notes. It can also make banks more agreeable to approve loans, which can be a boon for businesses in rural areas with smaller, regional banks, and provide more opportunities to refinance existing loans with higher rates. Related: The Real Estate Market Is a Nightmare Right Now Read More

Russia could slip into a recession soon and is having its worst harvest in 17 years, further straining an economy that’s already seen energy revenue plunge. For now, Vladimir Putin has staved off additional U.S. sanctions, as he bought more time to prosecute his war on Ukraine by meeting with President Donald Trump in Alaska last week, sparking a flurry of diplomatic activity as European allies try to forge security guarantees for Kyiv. But time may not be Russia’s ally. While Trump didn’t follow through on his threats to penalize Moscow for failing to reach a ceasefire agreement, there’s also been no sign of talks to remove existing sanctions and revive economic cooperation. “So it’s too early to adopt a more optimistic view on the Russian economy, which we think is teetering on the brink of a recession,” Tatiana Orlova, lead economist for emerging markets at Oxford Economics, said in a note on Monday. Since the Alaska meeting produced nothing that would move the needle, she reaffirmed her forecast for Russian GDP growth to slow sharply this year to just 1.2% from 4.3% in 2024. And after that, the economy will stagnate even further, coming to a near standstill with growth dropping below 1% in 2026 and 2027. “We also think there’s a significant probability of Russia’s economy slipping into a technical recession in the coming quarters,” Orlova added. Similar alarms have been piling up this year. In June, Economy Minister Maxim Reshetnikov warned that Russia was “on the brink” of a recession. Russian banks have also raised red flags on a potential debt crisis as high interest rates weigh on borrowers’ ability to service loans. Last month, the central bank slashed interest rates by 200 basis points to revive stalling growth, after hiking them to sky-high levels to fight inflation that’s been stoked by Russia’s war on Ukraine. Harvest season and Russia’s economy Meanwhile, Russia is having a disastrous harvest despite being an agricultural powerhouse, putting further pressure on the economy and the Kremlin’s finances. The country’s grain and fertilizer exports haven’t been sanctioned due to concerns about food shortages and have been a source of economic strength for Russia. But July saw the lowest grain exports for that month since 2008, according to Peter Frankopan, associate fellow on Russia and Eurasia at International Institute for Strategic Studies, who attributed it to intensifying climate volatility. This year, crops have been damaged by unseasonable frost in the spring as well as record heat and drought conditions in the summer, he explained in a recent post. Total grain production is now expected to fall to 130 million metric tons, down 18% from a 2022 peak. “Russia’s bad 2025 harvest is more than a weather event: it reveals the structural fragility of Russia’s war economy and the growing risks to a system built on fiscal buffers and fossil fuels,” Frankopan wrote. In fact, Russia’s fiscal buffer is disappearing as cash from energy dwindles. The Kremlin’s oil and gas revenue, which is its main source of funds, tumbled 27% in July from a year ago to 787.3 billion rubles, or about $9.8 billion.  As war spending soars, the result has been widening budget deficits. Russia has had to tap reserves in its National Wealth Fund, which has shrunk from $135 billion in January 2022 to just $35 billion this past May. “Russia’s economy is fast approaching a fiscal crunch that will encumber its war effort,” economist and Russia expert Anders Åslund wrote in a Project Syndicate op-ed earlier this month. “Though that may not be enough to compel Putin to seek peace, it does suggest that the walls are closing in on him.” Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list. Read More

Wall Street was laser-focused on the Federal Reserve’s monetary policy this past week, but minutes from the central bank’s last meeting revealed concern among some policymakers about the housing market. As the sector’s slump drags on, it has triggered more alarm bells because activity in housing, such as residential investment and construction, has often served as a leading indicator on the overall economy. Minutes from the Fed’s earlier meetings didn’t include such concerns. But that changed during the July 29-30 gathering. “Participants observed that growth of economic activity slowed in the first half of the year, driven in large part by slower consumption growth and a decline in residential investment,” the minutes, which were released on Wednesday, said. To be sure, housing was just one of several concerns that policymakers raised. Others included the labor market, the effect of tariffs on inflation, real income growth, elevated asset valuations, and low crop prices. But Fed officials were also specific about their housing market worries, suggesting they were starting to pay more attention to the data. “A few participants noted a weakening in housing demand, with increased availability of homes for sale and falling house prices,” the minutes said. And not only did housing show up on the Fed’s radar, policymakers flagged it as a potential risk to jobs, along with artificial intelligence technology. “In addition to tariff-induced risks, potential downside risks to employment mentioned by participants included a possible tightening of financial conditions due to a rise in risk premiums, a more substantial deterioration in the housing market, and the risk that the increased use of AI in the workplace may lower employment,” the minutes added. Housing market data The fact that the housing market is emerging as a worry at the Fed means that it could also weigh more on rate decisions, which influence mortgage rates. In his Jackson Hole speech on Friday, Chairman Jerome Powell opened the door to a rate cut at the central bank’s meeting in September after months of maintaining a more hawkish stance, stoking a furious rally on Wall Street and sending the 10-year Treasury yield down sharply. But in the meantime, fresh data show that the housing market remains stuck as elevated borrowing costs have kept would-be buyers on the sidelines. Sales of existing homes rose in July but have largely been flat for most of the year, even as the number of listings has climbed, suggesting demand is weak. That’s suppressed home prices, with a gauge of median prices falling in all but one month this year.  “Weekly data suggests home prices may remain subdued in coming months, close to flat on the year or rising only very modestly,” analysts at Citi Research wrote on Thursday. “Home price declines are rare outside of hiking cycles or recessions.” In addition, construction of new single-family homes remains lethargic, and data for July showed that building permits have declined in six out of seven months this year. In fact, permits—a volatile but leading indicator of future activity—fell to the lowest level since 2019, excluding the pandemic. That was reflected in the NAHB homebuilder confidence index, which fell in August to reverse a modest uptick earlier. It also showed that the share of homebuilders offering sales incentives hit a post-pandemic high. “As housing demand remains weak with high mortgage rates and high home prices, we expect further softening in housing activity this year,” Citi said in a separate note on Tuesday.  Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list. Read More

A consensus view on Wall Street for a rate cut next month doesn’t mean there will be a consensus on the Federal Reserve as policymakers still appear divided. In his Jackson Hole speech on Friday, Chairman Jerome Powell opened the door to a rate cut at the central bank’s meeting in September after months of maintaining a more hawkish stance, stoking a furious rally on Wall Street. His emphasis on growing risks to the labor market coupled with a more muted warning on the inflationary impact of tariffs marked a shift in his tone. But not everyone on the Federal Open Market Committee sounded as dovish, including Kansas City Fed President Jeffrey Schmid. That sets up another FOMC meeting with dissenting votes, after two policymakers voted to lower rates last time, going against the majority that kept rates steady. While Powell counts as one vote on the FOMC, he carries outsized influence as the chairman and could prove to be decisive in another split vote. “Guidance from a range of Fed speakers was mixed this week, while the July minutes struck a modestly hawkish tone,” JPMorgan economists led by Bruce Kasman wrote in a note on Friday. “A consensus decision in September looks unlikely, and it is Chair Powell who holds the key to the meeting’s outcome.” Another contested meeting would mark further deviation from the Fed’s traditional consensus-driven decision-making process, which typically results in unanimous votes. But future meetings could see continued division as hawks point to inflation still running above the Fed’s 2% target and other economic data signaling resilience. Indeed, the composition of the Fed is in flux, potentially leading to more push and pull among policymakers. Stephen Miran, who has previously blasted the Fed’s consensus-based approach, is set to join the board of governors and add to the dovish votes. Meanwhile, Powell’s term as chair expires in May, and President Donald Trump has threatened to fire Governor Lisa Cook if she doesn’t resign. Outlook for Fed rate cut cycle And even if the Fed lowers rates next month, the pace of future cuts isn’t clear, providing more fodder for debate at the central bank as Trump-appointed officials push for dovish policy. Some Wall Street analysts don’t see an aggressive easing cycle on the horizon, and Powell indicated any rate cuts would happen in a cautious manner. “This message may not be welcomed by an administration looking for immediate aggressive easing,” JPMorgan said. Capital Economics chief markets economist John Higgins said in a note Friday that Powell “poured three cups of cold water” on hopes for a major loosening of Fed policy. They include indications that the current rate is only modestly restrictive, that the neutral level may be higher than in the 2010s, and that a revised policy framework would return to a more symmetric approach to upside and downside inflation risks. Similarly, Ryan Sweet, chief US economist at Oxford Economics, said a rate cut in September would be more akin to an “insurance” move as Powell has previously vowed not to be late on labor market signals. In fact, his stance veers away from others at the Fed as he puts greater emphasis on the employment side of the dual mandate while tariffs are expected to cause a short-lived bump in inflation. “Powell appears to be setting the stage, assuming the economy performs as he expects and risks do not change appreciably, for a gradual approach to normalizing interest rates,” Sweet said in a note. “In other words, one cut at every other remaining meeting this year.” Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list. Read More

The world tends to see Europe as fragmented, bureaucratic, and underfunded — a tough place to build global companies. But those very constraints are why Europe is producing some of the most resilient billion-dollar businesses today. Scarcity forces discipline. Fragmentation gives startups diverse talent. And limited funding pushes founders to act globally from day one. In today’s market, where investors reward efficiency over hype and customers demand solutions that work across borders, Europe’s supposed weaknesses have become its greatest strengths. Our own $1 billion journey proves it. Progress beats polish every time  In DataSnipper’s early days, our founders didn’t have much capital, brand recognition, and certainly no fancy office. They had a few laptops, a shared workspace that doubled up as the lunchroom, and a product that barely worked. That might sound like a list of disadvantages, but I believe they’re the main reasons why the business moved fast enough to win.  When you don’t have extensive resources, you must turn to being creative, resourceful, and fast. Instead of over-engineering, you test ideas quickly. Instead of waiting for the “perfect” conditions, you take action with what you have.  For example, they ruthlessly focused on getting our product into customers’ hands as quickly as possible. Often, far too early. This was intentional. It created a very swift feedback loop to build and improve our offering. They moved fast and iterated rapidly.  Scrappiness changes your psychology. Every obstacle becomes a puzzle to solve, not a reason to pause. They didn’t have the budget for big-ticket marketing campaigns, so they built an army of customer advocates by personally solving their problems. They didn’t have a data science team, so they taught themselves analytics at night to understand the metrics. They didn’t have a dedicated Quality Assurance department, so every single employee diligently tested features, including the founders themselves. That constant bias toward progress over polish allowed us to iterate in weeks what typically took larger companies months to decide on. The lean and scrappy approach they used out of necessity became part of our DNA. Even when we could afford to spend more resources down the line, we strived to operate with the same mindset.  Use your European location to sell globally Unlike U.S. startups that can grow large while staying domestic, European founders operate globally from day one. They have to and it’s an advantage. From a single HQ, we could sell across Europe’s diverse markets, hire multilingual talent, and reach customers in three continents within 24 hours. A morning call with Asia, a midday demo with Madrid, and an afternoon pitch to New York, all without leaving Amsterdam. Europe’s diverse talent pool makes this even more powerful. You can hire native speakers for your key markets without opening foreign subsidiaries. You can easily hire from outside the EU and sponsor their visa without any of the H1-B visa challenges you would face in the United States. It’s one of the reasons we were able to expand revenue globally while still being headquartered in Europe. Geography, diversity, and time zones turned into strategic advantages. Think globally when fundraising Too many European founders confine fundraising to their home turf. That’s a mistake. If you want to build a global company, you need global capital. That means reaching out to investors in the U.S., Asia, and the Middle East. Not just the individuals a friend can introduce you to over coffee. One of our biggest backers came from cold outreach. You should be picking up the phone (or sending a well-researched email) to explain why your product has worldwide potential. Raising from global investors also signals ambition to your team and your market. It’s not about asking for money; it’s about showing that you’re building something that transcends local markets. The right investors aren’t just writing a check, they’re opening doors to customers, talent, and partnerships in their regions. Why Europe can compete with (and even beat) Silicon Valley Would we have grown faster in the U.S.? Maybe. But “faster” isn’t always better. Europe’s constraints forced discipline. We didn’t raise too much too soon. We didn’t hire ahead of revenue. We didn’t chase shiny features no one needed. Today, our HQ is still in Europe. Our team spans continents. Our customers are in 170 countries. The next billion-dollar story might not come from California. It could come from a city where the coffee is stronger, the buildings older, and the team is already thinking globally from day one. The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune. Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list. Read More

Innovation has a blind spot — and it’s not in the boardroom. It’s behind the counter, in the clinic, and on the shop floor before sunrise. While much of the tech world races toward the next big breakthrough, it’s overlooking something even bigger: the 2.7 billion people who make up the global shift-based workforce. These are the people who clock in, not just log on. I grew up watching two of them every day — my mother working long hours in a shoe factory, and my father driving a truck through all kinds of weather. Their work wasn’t glamorous, but it was essential. I saw first-hand how unpredictable schedules, physical demands, and economic pressures shaped not only their jobs but also our family’s daily life. Those experiences taught me about the gap between the way technology is designed and the way most of the world actually works. This disconnect isn’t just personal — it’s systemic. The next era of innovation shouldn’t start with code or capital. It should start with people. When I look at how to bridge this gap, I keep coming back to Harvard professor Clayton Christensen’s “Jobs to Be Done” theory: people hire products to solve real, everyday problems. But too many solutions are still dreamed up in conference rooms, far away from the break rooms and shop floors where those problems live. Nearly 80% of the global workforce is shift-based, yet they remain largely invisible to the innovation economy. While knowledge workers enjoy the benefits of remote tools, flexible hours, and automation, frontline industries are still grappling with burnout, staffing shortages, and unpredictable hours. And that gap is only widening, with less than 1% of technology investment going toward the people who work on their feet. What shadowing a barista showed me Recently, I spent a day shadowing baristas at one of our customers’ locations. I watched how something as small as a confusing schedule or a delayed break could ripple through the day, affecting not just the worker’s mood but also the team’s energy and the customer’s experience. Real progress requires proximity; you have to see the friction to understand it. One barista told me, “I want to be the person who guides you through your order and gets you exactly what you want.” That’s not just about coffee — it’s about pride in the work. The question for us as innovators is: Are we building systems that protect that pride or chip away at it? Christensen’s framework offers a way forward: start with the real “job” people are hiring your product to do. Not the imagined job in your pitch deck, but the actual one in their lives. If we applied that lens to the workforce, we’d see the problem clearly: Many decision-makers have never experienced the unpredictability of shift work, the juggling of multiple jobs, or the anxiety of waiting for next week’s schedule — yet they’re designing solutions for these very challenges. The goal shouldn’t be to replace people — it should be to make work more stable, predictable, and dignified for those whose jobs require them to be on site. Issues like unpredictable shifts and last-minute callouts aren’t just operational inefficiencies — they’re human costs. More than 85% of hourly workers say unpredictable scheduling impacts their health and ability to plan ahead. And for many, that unpredictability also ripples into their families. From the healthcare worker trying to arrange last-minute childcare to retail managers missing school pickup, or baristas trading shifts to care for an aging parent – these are real jobs technology must help solve if we want a society that can thrive inside and outside of work.  I’ve seen the difference when technology actually works for people: when workers can see their hours and earnings clearly, swap a shift without stress, and count on a schedule that doesn’t change at the last minute. The appetite for better solutions is clear: 80% of hourly workers believe digital tools would improve their performance, and 70% of frontline workers want better tech. The demand is there, and so is the opportunity. My challenge to builders, investors, and innovators is this: broaden your definition of “user.” Go to the cafe at 6 a.m. Talk to a nurse on their break. Watch a store manager handle a last-minute change from the parking lot. Listen. Then design with that reality in mind. The same care we bring to designing for desk workers – intuitive tools, real-time insights, delight in the details — should be the baseline for the people who keep the world running. When we start there, we don’t just make work better. We build a future of work that actually reflects how most of the world works. Because if we’re serious about shaping the future, we have to start where the work actually happens — with the real jobs to be done. The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune. Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list. Read More

KPMG Says Investor Interest in Digital Assets Will Drive Strong Second Half for Canadian Fintechs Despite a global investment slowdown, Canadian investors pumped $1.62 billion into fintech companies in the first half of the year — a trend KPMG expects to continue. Aug 23, 2025, 7:00 p.m. Canadian fintech companies raised $1.62 billion in the first half of 2025, with digital assets and artificial intelligence (AI) startups taking the lion’s share of fresh funding, according to KPMG Canada’s Pulse of Fintech report. While fintech funding slowed globally, Canadian investors maintained steady support for ventures at the intersection of finance and emerging technology. The report singled out companies building blockchain-based infrastructure and AI-driven financial tools as leading growth areas. “If we look at the first half of 2025, it’s clear that digital assets have re-emerged as a magnet for investor interest, despite the broader contraction in venture investment values,” said Edith Hitt, a partner at KPMG Canada. AI investments aren’t surprising, given its monumental expansion in recent years. However, Canadian investors turning to digital assets funding might catch some off guard, as the risk factor of the crypto market has always been up for debate among investors. However, with more pro-crypto regulations in the U.S. and further institutional push legitimizing certain parts of the digital assets sector, the conversation has clearly started to shift. “Crypto’s resurgence coming out of 2024 was reinforced by a more constructive regulatory tone in the U.S., the dismissal of the Coinbase lawsuit, and tangible mainstream adoption in stablecoin use cases,” Hitt added. Cautious investors While the $1.6 billion number may seem big, zooming out, the numbers have actually dropped year-over-year due to macro events such as tariffs and higher interest rates. The report said the first half of 2025 data is lower than $2.4 billion invested in the Canadian fintech industry in the same time period last year, and $7.5 billion invested in the second half of 2024. This doesn’t mean investors are shying away from fintech funding; rather, there is a lot of ‘dry powder’ waiting to be deployed, said Dubie Cunningham, a Partner in KPMG in Canada’s Banking and Capital Markets Practice. Investors are looking for more “quality companies” and appetite for “maturing mid-to-large stage private equity deals,” she added. In fact, KPMG Canada’s report explained that this trend of investing in AI and digital assets is likely to continue into the latter half of 2025. “Investor interest in digital will remain strong in the second half of the year and into 2026, driven by the U.S. administration’s bullish view and lighter regulatory touch on cryptoassets, said Hitt. “The focus will be on infrastructure, payments rails, and tokenization platforms that can scale in compliant, integrated ways,” she added. Hitt said things will only heat up more on the AI side, “as more fintechs increasingly adopt and deploy agentic AI solutions across areas like personal finance, investment management, fraud detection and lending.” Aoyon Ashraf Aoyon Ashraf is CoinDesk’s Head of Americas. He spent almost a decade at Bloomberg covering equities, commodities and tech. Prior to that, he spent several years on the sellside, financing small-cap companies. Aoyon graduated from University of Toronto with a degree in mining engineering. He holds ETH and BTC, as well as ADA, SOL, ATOM and some other altcoins that are below CoinDesk’s disclosure threshold of $1,000. X icon More For You Eric Trump Makes Bitcoin Price Predictions as He Reportedly Gets Ready to Visit Metaplanet Eric Trump says he’s a “bitcoin maxi” and sees BTC hitting $175K this year, as reports point to new ventures in Japan and Hong Kong. What to know: Eric Trump said at the recent Wyoming Blockchain Symposium that he’s a “bitcoin maxi,” predicting $175K BTC this year and $1 million eventually. The FT reported American Bitcoin, which Trump co-founded, is exploring acquiring publicly-listed companies in Japan and Hong Kong that could serve as digital asset treasury vehicles. Bloomberg reported he will attend a Sept. 1 Metaplanet shareholder meeting in Tokyo after the Bitcoin Asia 2025 conference in Hong Kong. Read full story Read More

Eric Trump Makes Bitcoin Price Predictions as He Reportedly Gets Ready to Visit Metaplanet Eric Trump says he’s a “bitcoin maxi” and sees BTC hitting $175K this year, as reports point to new ventures in Japan and Hong Kong. Updated Aug 23, 2025, 5:47 p.m. Published Aug 23, 2025, 5:34 p.m. Eric Trump is deepening his role in digital assets with reported plans to attend a shareholder meeting in Tokyo, public predictions about bitcoin’s price, and new corporate ventures that extend the Trump family’s crypto push into Asia. Bloomberg reported Friday that Trump will join a Sept. 1 shareholder meeting of Metaplanet, a Japanese company following Michael Saylor’s Strategy (formerly, MicroStategy) playbook, citing people familiar with the matter. Trump was appointed as a strategic adviser in March. His Tokyo stop will apparently follow an appearance at the Bitcoin Asia conference in Hong Kong on Aug. 28–29. A day earlier, Trump appeared at the Wyoming Blockchain Symposium, where he described himself as a “bitcoin maxi” and said he now spends more than half his time on crypto projects. He predicted bitcoin would reach $175,000 by the end of 2025 and eventually climb past $1 million. He argued that bitcoin and blockchain could address flaws in traditional finance, such as slow payments and settlement processes. The Financial Times reported onAug. 15 that American Bitcoin — a miner and treasury company co-founded by Eric Trump and his brother Donald Trump Jr. — is exploring acquisitions of listed firms in Japan and Hong Kong to use them as vehicles for stockpiling bitcoin, following the playbook pioneered by Michael Saylor’s MicroStrategy. The company is preparing to go public in the U.S. through a reverse merger with Nasdaq-listed Gryphon Digital Mining. Eric Trump is a co-founder and the chief strategy officer. American Bitcoin emerged in May from a reorganization of American Data Centers, a Trump-linked entity that absorbed rigs from Canadian operator Hut 8. The firm has said it aims to become the world’s most efficient bitcoin accumulation platform, combining active treasury management with new coin production. The Trumps’ crypto ambitions extend beyond Eric Trump. Trump Media & Technology Group, parent of Truth Social, raised more than $2 billion in the second quarter to create a bitcoin treasury. President Donald Trump disclosed in June $57 million in income from World Liberty Financial, a crypto startup launched last September. Together, these moves highlight how Eric Trump and his family are aligning themselves with crypto at a time when Japan and Hong Kong are competing to attract digital asset firms. Japan’s Financial Services Agency (FSA) will approve the first yen-denominated stablecoin as early as this fall. Meanwhile, Hong Kong has introduced the Stablecoins Ordinance, a regulatory framework that requires fiat-referenced stablecoin issuers to obtain a license from the Hong Kong Monetary Authority (HKMA). Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. Siamak Masnavi Siamak Masnavi is a researcher focused on blockchain technology, cryptocurrency regulation and macroeconomic forces shaping digital assets — including interest rate policy, capital flows and adoption trends. He holds an MSc and PhD in computer science from the University of London and began his career in software development, with nearly four years in the banking sector in London and Zurich. Since April 2018, he has been writing about the crypto industry. His focus shifted primarily to research in November 2024, though he continues to contribute regularly to industry reporting. AI Boost “AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy. More For You KPMG Says Investor Interest in Digital Assets Will Drive Strong Second Half for Canadian Fintechs Despite a global investment slowdown, Canadian investors pumped $1.62 billion into fintech companies in the first half of the year — a trend KPMG expects to continue. What to know: Canadian fintech companies raised $1.62 billion in the first half of 2025, with significant investments in digital assets and AI startups. Despite a global slowdown, Canadian investors continue to support fintech ventures, particularly those focused on blockchain and AI-driven financial tools. The report indicates a strong second half of 2025 for fintech investments, driven by U.S. regulatory support and the adoption of AI solutions. Read full story Read More

Breakout above $3 triggers five-fold volume spike as Fed policy shift and on-chain activity boost institutional flows. Updated Aug 23, 2025, 4:02 p.m. Published Aug 23, 2025, 3:41 p.m. (CoinDesk Data) What to know: XRP surged 8.56% during the August 22–23 session, testing resistance near $3.10 after dovish comments from the Federal Reserve Chair. On-chain settlement volumes on the XRP Ledger increased by 500%, indicating potential institutional adoption despite ongoing whale distribution. Traders are watching if the $3.00 support holds and whether a breakout above $3.10 could lead to further gains. XRP advanced sharply during the Aug. 22–23 session, testing multi-month resistance near $3.10 after weeks of sideways trading. The move coincided with dovish commentary from Federal Reserve Chair Jerome Powell at Jackson Hole, which reinforced expectations of a September rate cut and lifted risk sentiment across digital assets. On-chain settlement volumes on the XRP Ledger surged 500% earlier this week, adding to optimism around institutional adoption despite ongoing whale distribution. Price Action Summary • XRP gained 8.56% across the 23-hour session from August 22 at 11:00 to August 23 at 10:00, climbing from $2.83 to $3.03, according to CoinDesk Research’s technical analysis data.• The token swung between $2.79 and $3.10, creating an 11% intraday range.• The breakout occurred at 14:00 UTC on August 22, with XRP surging from $2.84 to $3.03 on 667.4 million volume—five times session averages.• Late-session volatility capped the move, with XRP retreating 0.47% in the final hour to settle near $3.01.• Support has consolidated around $2.97–$3.00 while resistance remains firm at $3.08–$3.10. Technical Analysis • Breakout levels: $2.84–$2.97 accumulation zone triggered upside impulse on high volume.• Resistance: Strong supply pressure emerged at $3.08–$3.10, rejecting further advance.• Support: New floor forming at $2.97–$3.00 psychological level, repeatedly defended intraday.• Volume: Breakout candle logged 667.4 million trades, 72% above weekly average.• Structure: Pattern resembles continuation setup if $3.00 holds, though fading volume late in the session suggests consolidation before next leg. What Traders Are Watching • Whether $3.00 support holds during profit-taking, or if a deeper retrace tests $2.95.• Breakout confirmation above $3.08–$3.10 zone, which could open the path toward $3.25.• Fed policy signals ahead of the September meeting, and impact on risk asset flows.• On-chain activity, which has surged to 844 million tokens settled in a single day, signaling enterprise adoption potential.• Whale flows, as recent exchange deposits continue to weigh on intraday momentum. Shaurya Malwa Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA. He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN. X icon CD Analytics CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets. All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article. CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy. More For You AAVE Leads Top 40 Cryptocurrencies With 19% Surge in One Day — Here’s What Could Be Driving It The AAVE price jumped 19% to $355.29 as following Aave going live on Aptos, Jerome Powell’s dovish comments on Friday and a rumor about Aave’s alleged exposure to the WLFI token. What to know: AAVE, the governance token of Aave, gained 18.7% in 24 hours to $355.29, the top gainer among the 40 largest cryptocurrencies Its recent Aptos expansion and Powell’s dovish comments on rate cuts boosted demand. An X user claiming to be a Delphi Digital analyst says Aave’s alleged WLFI exposure may be undervalued by the market. Read full story Read More