Ecolopedia: Crypto’s Biggest Heist, Google vs EU, and Africa’s Digital Boom
Ecology Media
London based global PR firm focused on fintech, web3 and social impact businesses.
From billion-dollar hacks to AI policy battles, this week has been packed with major developments across fintech, Web3, and crypto. Hackers just pulled off the biggest crypto heist in history, Google and Meta are pushing back against Europe’s strict AI regulations, and Africa’s digital economy is reaching new heights.
Let’s dive into the key stories shaping the industry this week.
?? North America
-- Bybit Suffers $1.5 Billion Crypto Heist
Crypto exchange Bybit has been hacked in what is now the largest crypto heist in history, with hackers stealing $1.5 billion in digital assets. Investigations are underway to trace the funds and identify the culprits.
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?? Africa
-- Microsoft Pledges $1 Million to Bridge Nigeria’s AI Skills Gap
Microsoft has announced a $1 million initiative to train one million Nigerians in AI and digital skills, strengthening the country’s digital economy and workforce.
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-- Nigeria’s Internet Usage Surpasses One Million Terabytes
Nigeria’s internet consumption has skyrocketed past one million terabytes, highlighting rapid digital adoption despite rising data costs.
-- Tether Partners with Guinea to Develop Blockchain Initiatives
Tether has signed an MoU with the Republic of Guinea to drive blockchain education and adoption across the country’s public and private sectors.
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MANSA Raises $10 Million to Solve Cross-Border Payment Challenges
The Dubai-based fintech startup secured $10 million to expand stablecoin-powered liquidity solutions for cross-border transactions.
?? Europe
-- UK Government Seeks ￡49M Payment Services Provider
The UK’s Government Digital Service is looking for a provider to enhance its GOV.UK Pay platform with open banking integration.
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-- Google and Meta Push Back on Europe’s AI Regulations
Tech giants warn that strict AI rules in Europe could stifle innovation and delay product launches. The AI Act is facing growing resistance from industry leaders.
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-- Germany’s New Chancellor and His Stance on Crypto
Friedrich Merz, the frontrunner in Germany’s elections, could reshape the country’s crypto policies with his pro-business approach.
-- UN Launches Coalition for Environmentally Sustainable AI
The UN is spearheading efforts to ensure AI development follows sustainable principles, with over 100 partners already on board.
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?? Asia
-- Alibaba to Invest $53 Billion in AI Infrastructure
China’s private sector is regaining momentum as Alibaba commits a massive $53 billion investment in AI infrastructure to enhance its cloud and artificial intelligence capabilities.
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-- PhonePe Prepares for IPO in India
Walmart-backed PhonePe, one of India’s leading fintech firms, is preparing for a public listing, set to become the next major listed fintech in India.
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-- Tribe Payments Joins Singapore FinTech Association
UK-based Tribe Payments has joined the Singapore FinTech Association as part of its expansion into the APAC region.
That’s a wrap on this week’s biggest fintech, Web3, and crypto updates. From historic crypto hacks to AI regulatory battles, the industry continues to evolve at a breakneck pace.
?? Which story stood out to you the most? Join the conversation on LinkedIn with #Ecolopedia or drop us a comment!
Until next time,
The Ecology Media Team
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