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ChatGPT to Face Tougher EU Cybersecurity Regulation

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The European Commission said Monday that OpenAI’s ChatGPT will have to comply with stricter EU rules, such as removing illegal content, or face potential fines. Meanwhile, Brussels is working to clarify how its existing digital regulatory framework applies to rapidly evolving artificial intelligence services. The Commission noted that ChatGPT, social media forum Reddit, and gaming platform Roblox will be classified as so-called “very large online platforms” (VLOPs) under the EU’s Digital Services Act (DSA), the bloc’s landmark digital regulatory regime. This designation means the three services will bear additional obligations, including removing illegal content and protecting minors’ privacy and safety; non-compliance could lead to fines of up to 6% of their global revenue. The decision marks a further expansion of DSA oversight into the generative AI sector. Earlier, X’s AI chatbot Grok was already under investigation under the same law.

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Germany's inflation edged higher, strengthening the European Central Bank's case for raising interest rates.

Germany’s inflation rate has edged higher, further reinforcing the European Central Bank’s (ECB) case for another interest rate hike next month. Consumer prices rose 2.9% year-on-year in August, up from the prior month’s 2.8% increase, hitting the highest level since April but below analysts’ median forecast of 3.1%. With a Middle East peace deal still nowhere in sight, energy prices have once again become a key driver of inflation, while service and food prices have cooled. Earlier data from France and Spain also showed that rising oil and gas prices are pushing up inflation across the region, adding to pressure on the ECB to act. ECB officials have already raised interest rates once, and are widely expected to hike again on September 10. Traders are betting that monetary policy will be tightened further next year.

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MicroStrategy’s Bitcoin holdings post unrealized gains of over $2.6 billion

According to HTX market data, Bitcoin is currently trading at $78,492. Strategy’s Bitcoin holdings are now sitting on an unrealized profit of over $2.602 billion. As previously reported, Strategy holds 845,050 Bitcoins in total, with a combined purchase cost of $63.73 billion, averaging $75,412 per coin.

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Strive invests $143 million to add 1,800 Bitcoin to its holdings.

Strive CEO Matt Cole disclosed that the company spent $143 million to add 1,800 Bitcoin to its holdings at an average purchase price of $79,431, bringing its total Bitcoin holdings to 23,156 coins.

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Trump declares "Iran is dead", cites multiple accusations to claim Iran "has completely failed"

U.S. President Trump posted on social media that Iran has officially become a failed state. It is "dead"! They have no navy, no air force, no currency, cannot pay the salaries of soldiers and police, and have an inflation rate as high as 300%. Its leadership is completely chaotic and unable to properly represent the country. The only things they possess are "fake news" from the U.S., the willingness to kill protesters (more than 100,000 people have died so far), and a set of elaborate "nonsense". They must be tried for crimes against humanity and war crimes!

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Singapore plans to invest 173 million U.S. dollars over the next three years to support fintech and innovation.

According to Bloomberg, Singapore has allocated SGD 220 million (approximately USD 173 million) over three years to fund fintech and innovation, aiming to maintain competitiveness against other investment hubs in the sector including Hong Kong. The Monetary Authority of Singapore (MAS) announced Monday that the new scheme is designed to support talent development and accelerate the development, adoption and deployment of fintech, with a focus on frontier technologies. Under the plan, MAS will support at least 1,000 internship positions and ensure the financial sector is prepared for frontier technologies such as artificial intelligence.

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MicroStrategy added 4,603 BTC to its holdings last week, at an average price of $80,318.

Strategy added 4,603 BTC to its holdings last week, spending a total of $369.7 million at an average price of $80,318 per BTC.

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