LVMH, the world's biggest luxury conglomerate, saw its shares dip as much as 8% as its results dashed investor hopes of a recovery in luxury demand

Mango and Avocado: Meta’s New AI Models Aim to Take on Google Gemini and OpenAI’s Generative AI Tools

Meta is developing two proprietary AI models, Mango for image and video generation and Avocado for text and reasoning, expected to launch in the first half of 2026. The company created Meta Superintelligence Labs, hired over 50 AI specialists, and shifted away from its Llama open-source models to compete with Google’s Gemini and OpenAI’s AI tools.

PayPal Expands into AI Financing Through USD.AI, Offering 4.5% Yield on PYUSD Deposits

PayPal is partnering with USD.AI to offer PYUSD stablecoin loans to AI companies, helping them fund GPUs, data centres, and other infrastructure. The programme also includes a one-year incentive offering 4.5% yield to attract institutional investors and support the growth of AI projects.

Taiwan Reports 210 BTC and Millions in Stablecoins From Fraud Cases, Ranking 9th Globally Among Governments

Taiwan’s authorities are holding 210.45 Bitcoin and other cryptocurrencies seized from criminal cases. The assets remain under judicial control, with no plans yet announced for sale, conversion, or use in national reserves.

Visa Sets Up Stablecoins Advisory Unit to Guide Banks, Fintechs and Merchants Through Growing Tokenised Payments Market

Visa has launched a Stablecoins Advisory Practice within its consulting unit. The service will advise banks and businesses on using stablecoins for payments and operations.

China’s ByteDance Signs Binding Deal to Sell Majority of TikTok US Operations to American and Global Investors

TikTok’s Chinese owner, ByteDance, has agreed to hand control of its US operations to a new US-led company to avoid a ban. The deal gives American and global investors 80.1% ownership, while ByteDance keeps 19.9%, and the joint venture will manage US data, algorithms, and content locally.

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Coinbase Sues Multiple States Claiming Prediction Markets Fall Under Federal CFTC Oversight, CEO Warns State Intervention Hurts Innovation

Coinbase is suing Michigan, Illinois, and Connecticut, saying only the federal government via the CFTC can regulate prediction markets. CEO Brian Armstrong argued state rules block access to federally regulated products as the company plans to expand its event-based trading in the US.

New York’s MoMA Welcomes CryptoPunks and Chromie Squiggles Donations Cementing NFTs as Recognised Cultural Assets

MoMA has added eight CryptoPunks and eight Chromie Squiggles to its permanent collection, marking a major recognition of NFTs as legitimate art. The works were donated by creators and collectors and will be displayed alongside other digital and experimental media at the museum.

23-Year-Old Charged in Nationwide Coinbase Phishing Scam That Stole Millions in Cryptocurrency

A 23-year-old man from Brooklyn, Ronald Spektor, has been charged with a $16 million crypto phishing scam that targeted nearly 100 Coinbase users across the US. He allegedly tricked victims into sending their cryptocurrency to wallets he controlled and is now in custody while authorities work to recover the stolen funds.

Galleries and Insurers Face Growing Risk as AI Produces Fake Art Invoices and Authenticity Records

Fraudsters are using AI to create fake art documents, such as sales invoices and certificates, that look real and trick galleries, insurers, and collectors. These AI-generated forgeries make it harder to check provenance and increase the risk of financial loss in the art market.