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AI & Enterprise

ByteDance in talks with MediaTek on custom AI chips as Nvidia access tightens

ByteDance is in late-stage talks with Taiwan's MediaTek to secure custom AI chips for data centres, as U.S. export restrictions make it harder to obtain Nvidia's top processors. The talks involve application-specific integrated circuits, though no order volume has been set and no contract has been signed. If agreed, ByteDance would become MediaTek's second major ASIC customer after Google. ByteDance is also weighing a sharp rise in capital spending this year and has secured a large loan.

Crypto

Sweden's Riksbank urges legal prep for digital krona amid spread of dollar-pegged stablecoins

Sweden's central bank, the Riksbank, has urged parliament to begin legislative preparations for a possible digital krona. It is re-examining the need for a central bank digital currency, citing the European Central Bank’s push for a digital euro and the spread of foreign currency-pegged stablecoins. The bank warned that without a digital version of the krona, Sweden’s payment system could lose competitiveness and krona use could weaken.

Crypto

Trump's former crypto adviser faces Genius Act conflict-of-interest questions over investment stake

Questions have been raised over whether Bo Hines, a former cryptocurrency adviser to U.S. President Donald Trump, faced a conflict of interest while promoting passage of the stablecoin-focused Genius Act. Reports say Nxum, an investment firm Hines co-founded, received $6.3 million under a contract with stablecoin issuer Tether, with the first payment made while he was in office. Hines is also alleged to have kept in contact with Nxum partners during his White House tenure.