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AI & Enterprise

UN AI science panel releases first report, cannot rule out catastrophic harm from AI

A United Nations-backed independent international AI science panel warned that rapid advances in artificial intelligence are outpacing human understanding and regulatory capacity, meaning catastrophic harm cannot be ruled out at the current level of science. The panel’s first preliminary report cited research suggesting some AI systems may deceive to avoid shutdown and display evaluation awareness. It also highlighted uses in protein prediction and productivity, while noting uneven computing power and limited independent safety testing.

Crypto

EU MiCA rules drive crypto firms\' exodus to Dubai

With the European Union\'s MiCA crypto rules set to take effect on July 1, unlicensed crypto firms and exchanges risk losing eligibility to serve European customers. That has accelerated moves by European crypto companies to consider entering the United Arab Emirates, especially Dubai. Legal consultations on setting up UAE entities and securing licences are rising, with many inquiries from Europe. Major exchanges also face pressure, while licensed rivals offer incentives to attract users.

Crypto

Bitcoin sentiment improves but ETF outflows still weigh

Bitcoin futures market funding rates rose to the highest level in about 2 weeks, improving short-term sentiment. Bitcoin climbed to around $65,500, helped by expectations of easing Middle East tensions and a drop in oil prices. Derivatives positioning turned more bullish, but options markets showed strong demand for downside protection. Concerns also lingered over corporate bitcoin holdings. The main burden remains continued outflows from U.S.-listed spot bitcoin ETFs, now in a sixth straight week.