![\"\"](\"https://www.pymnts.com/wp-content/uploads/2025/04/Figure-1-consumer-sentiment.jpg?w=457\")
Mastercard CEO Michael Miebach said the payments giant is not seeing consumer spending slow down despite the consumer sentiment surveys indicating that people are worried about the economy.
\nDuring a fireside chat at the Semafor World Economy Summit on Wednesday (April 23), he said that \u201chard data\u201d from Mastercard\u2019s Economics Institute tells a different story.
\nThe payments giant, which tracks real-time spending across its network and the broader economy, said it saw a 1.4% increase in consumer spending for March, contrary to what consumer confidence surveys showed.
\nThe hard data \u201cis not reflecting where the consumer is,\u201d Miebach said. \u201cThe consumer today is an empowered consumer that will still stick to what they want to do.\u201d While consumers may be paring down on how much they\u2019re spending, \u201cthey still want to make that trip.\u201d
\n\u201cWe don\u2019t see any change at this point,\u201d he added.
\nBut if an economic slowdown does come, how will Mastercard cope?
\nMiebach, who took the helm at Mastercard at the start of the pandemic in 2020, said the company\u2019s diversification across services and geographies \u2014 it operates in 210 countries and territories \u2014 would be a buffer.
\nWhile Mastercard is known for facilitating the purchasing of goods and services, less known is that it also provides a whole range of services that are \u201ctied to powerful underlying secular trends that have nothing to do with the economy,\u201d Miebach said.
\nOne example is cybersecurity, he said. Mastercard is one of the largest providers globally.
\n\u201cOur scenario planning isn\u2019t one of dark clouds,\u201d he added. \u201cRight now, there isn\u2019t a scenario \u2026 where this is a dramatic impact on us.\u201d
\nRead more: Report: Visa Offers $100 Million to Get Apple Credit Card Business
\nMiebach was asked if reports that Visa might take over Apple Pay from Mastercard were true. Miebach said he has seen the headlines but flatly denied that Apple is ditching Mastercard: \u201cIt\u2019s not happening.\u201d
\nEarlier this month, Visa offered Apple about $100 million to take over Apple Pay from Mastercard, which processed the Goldman Sachs\u2019 Apple credit card.
\nThe paper said there is fierce competition not only to take over from Goldman Sachs \u2014 among big banks including JPMorgan Chase and Synchrony Financial \u2014\u00a0but also among the payment networks that process the transactions: Visa and American Express.
\nAs for how Mastercard differentiates itself in a crowded digital payments landscape, Miebach acknowledged the explosion of payment options available to consumers today \u2014\u00a0from cash and cards to stable coins and crypto balances.
\nMiebach said people should think of Mastercard in a different way, not as a business-to-consumer provider. \u201cWe power the Sonys and Walmarts with our solutions on the backside,\u201d he explained, claiming, \u201cWe love the competition. We love the choices that are now on the market.\u201d
\nMiebach said Mastercard focuses on solving customer problems rather than fixating on competition.
\nFor example, for retailers, one pain point is the checkout experience. \u201cWho wants to stand in line, or who wants to have a complicated checkout page on the web?\u201d he asked.
\nMastercard\u2019s answer to this challenge is biometrics. \u201cIf that can work on your phone [and] if that can work on anything, wouldn\u2019t that be wonderful? We created that standard,\u201d Miebach said.
\nBy 2030, Mastercard plans to phase out the need to enter card numbers, static passwords and one-time codes for online purchases. It will replace the process with a new one enabled by a combination of tokenization and biometric authentication, to make checkout smoother and more secure.
\nCurrently, Mastercard is further retooling its customer experience by leveraging generative artificial intelligence (GenAI).
\nIt had been using machine learning and rules-based AI to process 160 billion transactions through its system. Now, the company is leveraging GenAI for what Miebach calls \u201cagentic commerce\u201d \u2014\u00a0smart AI agents that know the customer and simplifies things like gathering reward points and applying them to travel planning. The agents will even book the trip.
\n\u201cIn the world of agentic commerce, you have a smart agent that knows all your preferences, all of your (credit, debit and loyalty) card balances,\u201d he said. \u201cWe enable travel, we enable commerce, and we have a lot of data.\u201d
\nWhen asked where AI has delivered the most financial impact for Mastercard, Miebach pointed to cybersecurity and fraud management. \u201cSince 2018, we\u2019ve invested $11 billion in keeping our own four walls safe and putting out safety and security products for our customers,\u201d he said.
\nMastercard\u2019s goal is to save $120 billion in fraud by 2030, in part by using GenAI to scan the dark web for compromised card data and alert banks in real time, analyzing 1 trillion data points.
\nPhoto: Mastercard CEO Michael Miebach from livestream
\nThe post Mastercard CEO Sees No Sign of Consumer Spending Slowdown appeared first on PYMNTS.com.
\n", "content_text": "Mastercard CEO Michael Miebach said the payments giant is not seeing consumer spending slow down despite the consumer sentiment surveys indicating that people are worried about the economy.\nDuring a fireside chat at the Semafor World Economy Summit on Wednesday (April 23), he said that \u201chard data\u201d from Mastercard\u2019s Economics Institute tells a different story.\nThe payments giant, which tracks real-time spending across its network and the broader economy, said it saw a 1.4% increase in consumer spending for March, contrary to what consumer confidence surveys showed.\nThe hard data \u201cis not reflecting where the consumer is,\u201d Miebach said. \u201cThe consumer today is an empowered consumer that will still stick to what they want to do.\u201d While consumers may be paring down on how much they\u2019re spending, \u201cthey still want to make that trip.\u201d\n\u201cWe don\u2019t see any change at this point,\u201d he added.\nBut if an economic slowdown does come, how will Mastercard cope?\nMiebach, who took the helm at Mastercard at the start of the pandemic in 2020, said the company\u2019s diversification across services and geographies \u2014 it operates in 210 countries and territories \u2014 would be a buffer.\nWhile Mastercard is known for facilitating the purchasing of goods and services, less known is that it also provides a whole range of services that are \u201ctied to powerful underlying secular trends that have nothing to do with the economy,\u201d Miebach said.\nOne example is cybersecurity, he said. Mastercard is one of the largest providers globally.\n\u201cOur scenario planning isn\u2019t one of dark clouds,\u201d he added. \u201cRight now, there isn\u2019t a scenario \u2026 where this is a dramatic impact on us.\u201d\nRead more: Report: Visa Offers $100 Million to Get Apple Credit Card Business\nThat Rumor About Apple Pay\nMiebach was asked if reports that Visa might take over Apple Pay from Mastercard were true. Miebach said he has seen the headlines but flatly denied that Apple is ditching Mastercard: \u201cIt\u2019s not happening.\u201d\nEarlier this month, Visa offered Apple about $100 million to take over Apple Pay from Mastercard, which processed the Goldman Sachs\u2019 Apple credit card.\nThe paper said there is fierce competition not only to take over from Goldman Sachs \u2014 among big banks including JPMorgan Chase and Synchrony Financial \u2014\u00a0but also among the payment networks that process the transactions: Visa and American Express.\nAs for how Mastercard differentiates itself in a crowded digital payments landscape, Miebach acknowledged the explosion of payment options available to consumers today \u2014\u00a0from cash and cards to stable coins and crypto balances.\nMiebach said people should think of Mastercard in a different way, not as a business-to-consumer provider. \u201cWe power the Sonys and Walmarts with our solutions on the backside,\u201d he explained, claiming, \u201cWe love the competition. We love the choices that are now on the market.\u201d\nMiebach said Mastercard focuses on solving customer problems rather than fixating on competition. \nFor example, for retailers, one pain point is the checkout experience. \u201cWho wants to stand in line, or who wants to have a complicated checkout page on the web?\u201d he asked.\nMastercard\u2019s answer to this challenge is biometrics. \u201cIf that can work on your phone [and] if that can work on anything, wouldn\u2019t that be wonderful? We created that standard,\u201d Miebach said.\nBy 2030, Mastercard plans to phase out the need to enter card numbers, static passwords and one-time codes for online purchases. It will replace the process with a new one enabled by a combination of tokenization and biometric authentication, to make checkout smoother and more secure.\nCurrently, Mastercard is further retooling its customer experience by leveraging generative artificial intelligence (GenAI).\nAdding GenAI\nIt had been using machine learning and rules-based AI to process 160 billion transactions through its system. Now, the company is leveraging GenAI for what Miebach calls \u201cagentic commerce\u201d \u2014\u00a0smart AI agents that know the customer and simplifies things like gathering reward points and applying them to travel planning. The agents will even book the trip.\n\u201cIn the world of agentic commerce, you have a smart agent that knows all your preferences, all of your (credit, debit and loyalty) card balances,\u201d he said. \u201cWe enable travel, we enable commerce, and we have a lot of data.\u201d\nWhen asked where AI has delivered the most financial impact for Mastercard, Miebach pointed to cybersecurity and fraud management. \u201cSince 2018, we\u2019ve invested $11 billion in keeping our own four walls safe and putting out safety and security products for our customers,\u201d he said.\nMastercard\u2019s goal is to save $120 billion in fraud by 2030, in part by using GenAI to scan the dark web for compromised card data and alert banks in real time, analyzing 1 trillion data points.\nPhoto: Mastercard CEO Michael Miebach from livestream\nThe post Mastercard CEO Sees No Sign of Consumer Spending Slowdown appeared first on PYMNTS.com.", "date_published": "2025-04-23T20:37:44-04:00", "date_modified": "2025-04-23T20:37:44-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/Mastercard-Miebach.png", "tags": [ "Apple Pay", "Consumer Spending", "credit cards", "Cybersecurity", "Digital Payments", "Economics Institute", "economy", "Mastercard", "Michael Miebach", "News", "payment processor", "PYMNTS News", "Semafor World Economy Summit", "Visa" ] }, { "id": "https://www.pymnts.com/?p=2690187", "url": "https://www.pymnts.com/credit-cards/2025/discover-lowers-provision-for-credit-losses-amid-positive-credit-trends/", "title": "Discover Lowers Provision for Credit Losses Amid \u2018Positive Credit Trends\u2019", "content_html": "Positive credit trends contributed to \u201csolid first quarter financial performance\u201d at Discover Financial Services, Discover Interim CEO and President Michael Shepherd said in a Wednesday (April 23) earnings release.
\nThe digital banking and payment services company saw its net income leap 30% year over year in the first quarter to reach $1.1 billion, according to the release.
\nShepherd said Discover\u2019s financial performance benefited from \u201cstrong net interest margin and positive credit trends.\u201d
\nThe company\u2019s net interest margin rose by 115 basis points compared with the previous year and reached 12.18%, according to the release.
\nThe rise in net interest margin was \u201cprimarily driven by lower funding costs,\u201d according to a presentation released Wednesday.
\nDiscover\u2019s good credit performance was highlighted by a reserve release and lower net charge-offs, per the presentation.
\nThe company\u2019s provision for credit losses decreased $253 million from the same quarter last year, dropping to $1.2 billion, according to the earnings release. This was enabled by a $190 million favorable reserve change and a $97 million decrease in net charge-offs.
\nCredit card net charge-offs and delinquency rates improved year over year, according to the presentation. Personal loan net charge-offs were up year over year, but were stable quarter over quarter, as were delinquencies.
\n\u201cTotal loan net charge-offs were in line with expectations; delinquencies reflect a downward trend,\u201d the presentation said.
\nThis earnings release came days after the Friday (April 18) announcement that Capital One received the regulatory approvals necessary to complete the merger with Discover and that the merger is now expected to close around May 18, subject to customary closing conditions.
\n\u201cThese results reflect our good execution and the strength of our business model,\u201d Shepherd said in the release. \u201cWe are pleased that Capital One has received all required approvals and look forward to completing our merger.\u201d
\nThe companies said Friday that they received approvals from the Federal Reserve Board and the Office of the Comptroller of the Currency, meaning they had received all required regulatory approvals for the proposed acquisition.
\nCapital One CEO Richard Fairbank said Tuesday (April 22) that the combined entity will create a \u201cleading consumer banking and payments platform.\u201d
\nThe post Discover Lowers Provision for Credit Losses Amid \u2018Positive Credit Trends\u2019 appeared first on PYMNTS.com.
\n", "content_text": "Positive credit trends contributed to \u201csolid first quarter financial performance\u201d at Discover Financial Services, Discover Interim CEO and President Michael Shepherd said in a Wednesday (April 23) earnings release.\nThe digital banking and payment services company saw its net income leap 30% year over year in the first quarter to reach $1.1 billion, according to the release.\nShepherd said Discover\u2019s financial performance benefited from \u201cstrong net interest margin and positive credit trends.\u201d\nThe company\u2019s net interest margin rose by 115 basis points compared with the previous year and reached 12.18%, according to the release.\nThe rise in net interest margin was \u201cprimarily driven by lower funding costs,\u201d according to a presentation released Wednesday.\nDiscover\u2019s good credit performance was highlighted by a reserve release and lower net charge-offs, per the presentation.\nThe company\u2019s provision for credit losses decreased $253 million from the same quarter last year, dropping to $1.2 billion, according to the earnings release. This was enabled by a $190 million favorable reserve change and a $97 million decrease in net charge-offs.\nCredit card net charge-offs and delinquency rates improved year over year, according to the presentation. Personal loan net charge-offs were up year over year, but were stable quarter over quarter, as were delinquencies.\n\u201cTotal loan net charge-offs were in line with expectations; delinquencies reflect a downward trend,\u201d the presentation said.\nThis earnings release came days after the Friday (April 18) announcement that Capital One received the regulatory approvals necessary to complete the merger with Discover and that the merger is now expected to close around May 18, subject to customary closing conditions.\n\u201cThese results reflect our good execution and the strength of our business model,\u201d Shepherd said in the release. \u201cWe are pleased that Capital One has received all required approvals and look forward to completing our merger.\u201d\nThe companies said Friday that they received approvals from the Federal Reserve Board and the Office of the Comptroller of the Currency, meaning they had received all required regulatory approvals for the proposed acquisition.\nCapital One CEO Richard Fairbank said Tuesday (April 22) that the combined entity will create a \u201cleading consumer banking and payments platform.\u201d\nThe post Discover Lowers Provision for Credit Losses Amid \u2018Positive Credit Trends\u2019 appeared first on PYMNTS.com.", "date_published": "2025-04-23T20:06:31-04:00", "date_modified": "2025-04-23T20:06:31-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/Discover.jpg", "tags": [ "Capital One", "Credit Cards", "Discover", "Discover Financial Services", "Earnings", "Michael Shepherd", "News", "PYMNTS News", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2690180", "url": "https://www.pymnts.com/transportation/2025/tesla-eyes-june-launch-for-robotaxis-amid-decline-in-sales/", "title": "Tesla Eyes June Launch for Robotaxis Amid Decline in Sales", "content_html": "Automotive manufacturer Tesla is reportedly rolling out trials of its ridesharing service, giving employees access, as it looks to expand that service later this year.
\nIn a Wednesday (April 23) post on X, Tesla shared a video of passengers hailing and riding in one of its vehicles, as a driver sat in the front.
\n\n\n\nFSD Supervised ride-hailing service is live for an early set of employees in Austin & San Francisco Bay Area.
\nWe’ve completed over 1.5k trips & 15k miles of driving.
\nThis service helps us develop & validate FSD networks, the mobile app, vehicle allocation, mission control &\u2026 pic.twitter.com/pYVfhi935W
\n\u2014 Tesla AI (@Tesla_AI) April 23, 2025
According to a Wednesday Bloomberg report, the ride-hailing service uses a suite of features Tesla has dubbed full self-driving. Despite the name, the cars still require continual driver supervision, and that doesn\u2019t make its vehicles autonomous.
\nCiting an earnings call where executives spoke with investors, Bloomberg said Tesla is planning on unveiling a driverless version of the software that will still be supervised remotely.
\n\u201cIt\u2019ll start in Austin with 10 to 20 Model Y vehicles before scaling further, with plans to add other cities and vehicle models to the fleet,\u201d Bloomberg reported.
\nTesla also plans to eventually use a purpose-built two-seater vehicle called a Cybercab, which has no steering wheel or pedals. The vehicle is expected to undergo large-scale production next year, per the report.
\nTesla executives also discussed the company\u2019s sluggish sales. The company\u00a0reported its worst quarter in years. In response, CEO Elon Musk said he plans to pull back \u201csignificantly\u201d from his work with the U.S. government to refocus on the automotive firm.
\n\u201cThere\u2019s been some blowback for\u00a0time that I\u2019ve been spending in government with \u2026 DOGE,\u201d Musk said.
\nThe CEO had faced criticism for not paying enough attention to Tesla amid his increased involvement with the Department of Government Efficiency (DOGE) and other political activities.\u00a0
\n\u201cHis alliance with President Trump also brought dismay to many consumers, which has depressed Tesla demand and ignited acts of vandalism against some Tesla dealerships,\u201d PYMNTS reported Tuesday (April 22).
\nTesla\u2019s shares have fallen 41% year to date and it has gone through many crises and \u201cnear-death experiences,\u201d Musk said. \u201cThis is not one of those times. We\u2019re not on the ragged edge of death \u2014 not even close.\u201d
\nThe post Tesla Eyes June Launch for Robotaxis Amid Decline in Sales appeared first on PYMNTS.com.
\n", "content_text": "Automotive manufacturer Tesla is reportedly rolling out trials of its ridesharing service, giving employees access, as it looks to expand that service later this year.\nIn a Wednesday (April 23) post on X, Tesla shared a video of passengers hailing and riding in one of its vehicles, as a driver sat in the front. \n\nFSD Supervised ride-hailing service is live for an early set of employees in Austin & San Francisco Bay Area.\nWe’ve completed over 1.5k trips & 15k miles of driving.\nThis service helps us develop & validate FSD networks, the mobile app, vehicle allocation, mission control &\u2026 pic.twitter.com/pYVfhi935W\n\u2014 Tesla AI (@Tesla_AI) April 23, 2025\n\nAccording to a Wednesday Bloomberg report, the ride-hailing service uses a suite of features Tesla has dubbed full self-driving. Despite the name, the cars still require continual driver supervision, and that doesn\u2019t make its vehicles autonomous.\nCiting an earnings call where executives spoke with investors, Bloomberg said Tesla is planning on unveiling a driverless version of the software that will still be supervised remotely. \n\u201cIt\u2019ll start in Austin with 10 to 20 Model Y vehicles before scaling further, with plans to add other cities and vehicle models to the fleet,\u201d Bloomberg reported. \nTesla also plans to eventually use a purpose-built two-seater vehicle called a Cybercab, which has no steering wheel or pedals. The vehicle is expected to undergo large-scale production next year, per the report.\nTesla executives also discussed the company\u2019s sluggish sales. The company\u00a0reported its worst quarter in years. In response, CEO Elon Musk said he plans to pull back \u201csignificantly\u201d from his work with the U.S. government to refocus on the automotive firm.\n\u201cThere\u2019s been some blowback for\u00a0time that I\u2019ve been spending in government with \u2026 DOGE,\u201d Musk said.\nThe CEO had faced criticism for not paying enough attention to Tesla amid his increased involvement with the Department of Government Efficiency (DOGE) and other political activities.\u00a0\n\u201cHis alliance with President Trump also brought dismay to many consumers, which has depressed Tesla demand and ignited acts of vandalism against some Tesla dealerships,\u201d PYMNTS reported Tuesday (April 22).\nTesla\u2019s shares have fallen 41% year to date and it has gone through many crises and \u201cnear-death experiences,\u201d Musk said. \u201cThis is not one of those times. We\u2019re not on the ragged edge of death \u2014 not even close.\u201d \nThe post Tesla Eyes June Launch for Robotaxis Amid Decline in Sales appeared first on PYMNTS.com.", "date_published": "2025-04-23T19:46:03-04:00", "date_modified": "2025-04-23T19:46:03-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/Tesla-1.jpg", "tags": [ "Autonomous vehicles", "avs", "Driverless cars", "electric vehicles", "Elon Musk", "EVs", "News", "PYMNTS News", "ride-hailing", "Ridesharing", "Tesla", "Transportation", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2690173", "url": "https://www.pymnts.com/artificial-intelligence-2/2025/report-openai-expects-new-products-to-drive-revenue-to-125-billion-in-2029/", "title": "Report: OpenAI Expects New Products to Drive Revenue to $125 Billion in 2029", "content_html": "OpenAI reportedly expects its revenue to reach $125 billion in 2029 and $174 billion in 2030 as it adds new products.
\nThe company expects its artificial intelligence (AI) agents and other new products to generate more sales than its ChatGTP chatbot by that time, The Information reported Wednesday (April 23), citing information OpenAI shared with potential and current investors.
\nIt is not clear what the new products will be, but executives have considered selling ads or charging affiliate fees with which it would get a cut of sales that begin through ChatGPT or its AI agents, according to the report.
\nOpenAI did not immediately reply to PYMNTS\u2019 request for comment.
\nThe company ended 2024 with revenues of $3.7 billion, which was nearly four times the prior year\u2019s sales, according to the report.
\nOpenAI expects to spend $46 billion in cash over the next four years and turn cash flow positive in 2029, when it expects to generate about $2 billion in cash, the report said.
\nThe company said April 16 that its latest AI models are poised to bring more capable AI agents to business.
\nThe new o3 and o4-mini reasoning models are the \u201csmartest\u201d it has released to date and represent a \u201cstep change\u201d in ChatGPT\u2019s capabilities, according to an OpenAI blog post.
\nThese models represent a big step toward more robust agentic AI systems that can independently execute tasks on behalf of users, the company said.
\nOn April 14, OpenAI Chief Financial Officer Sarah Friar said the company is building an AI agent that can do all the work of software engineers, not just augment their skills.
\nFriar added that OpenAI is moving beyond being solely a model builder to becoming a comprehensive AI infrastructure provider and applications developer.
\n\u201cToday, OpenAI is so much more,\u201d Friar said. \u201cWe\u2019re going down into data center technology … and we feel like we\u2019re creating a lot of IP there, and it\u2019s really important for us to own that.\u201d
\nOn April 11, OpenAI CEO Sam Altman said the generative AI company has reached 800 million people.
\n\u201cSomething like 10% of the world uses our systems, now a lot,\u201d Altman said.
\nThe post Report: OpenAI Expects New Products to Drive Revenue to $125 Billion in 2029 appeared first on PYMNTS.com.
\n", "content_text": "OpenAI reportedly expects its revenue to reach $125 billion in 2029 and $174 billion in 2030 as it adds new products.\nThe company expects its artificial intelligence (AI) agents and other new products to generate more sales than its ChatGTP chatbot by that time, The Information reported Wednesday (April 23), citing information OpenAI shared with potential and current investors.\nIt is not clear what the new products will be, but executives have considered selling ads or charging affiliate fees with which it would get a cut of sales that begin through ChatGPT or its AI agents, according to the report.\nOpenAI did not immediately reply to PYMNTS\u2019 request for comment.\nThe company ended 2024 with revenues of $3.7 billion, which was nearly four times the prior year\u2019s sales, according to the report.\nOpenAI expects to spend $46 billion in cash over the next four years and turn cash flow positive in 2029, when it expects to generate about $2 billion in cash, the report said.\nThe company said April 16 that its latest AI models are poised to bring more capable AI agents to business.\nThe new o3 and o4-mini reasoning models are the \u201csmartest\u201d it has released to date and represent a \u201cstep change\u201d in ChatGPT\u2019s capabilities, according to an OpenAI blog post.\nThese models represent a big step toward more robust agentic AI systems that can independently execute tasks on behalf of users, the company said.\nOn April 14, OpenAI Chief Financial Officer Sarah Friar said the company is building an AI agent that can do all the work of software engineers, not just augment their skills.\nFriar added that OpenAI is moving beyond being solely a model builder to becoming a comprehensive AI infrastructure provider and applications developer.\n\u201cToday, OpenAI is so much more,\u201d Friar said. \u201cWe\u2019re going down into data center technology … and we feel like we\u2019re creating a lot of IP there, and it\u2019s really important for us to own that.\u201d\nOn April 11, OpenAI CEO Sam Altman said the generative AI company has reached 800 million people.\n\u201cSomething like 10% of the world uses our systems, now a lot,\u201d Altman said.\nThe post Report: OpenAI Expects New Products to Drive Revenue to $125 Billion in 2029 appeared first on PYMNTS.com.", "date_published": "2025-04-23T19:31:52-04:00", "date_modified": "2025-04-23T19:31:52-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/OpenAI-revenue-ChatGPT.jpg", "tags": [ "agentic AI", "AI", "AI agents", "artificial intelligence", "ChatGPT", "GenAI", "generative AI", "News", "OpenAI", "PYMNTS News", "What's Hot", "artificial intelligence" ] }, { "id": "https://www.pymnts.com/?p=2690150", "url": "https://www.pymnts.com/economy/2025/fed-survey-says-pervasive-uncertainty-hampers-companies-hiring-and-growth-prospects/", "title": "Fed Survey Says Pervasive Uncertainty Hampers Companies\u2019 Hiring and Growth Prospects", "content_html": "Perhaps the best, or most positive, finding in the Federal Reserve\u2019s latest qualitative survey of the economy and its prospects boils down to this:
\nEconomic activity, at least as measured in March, was mixed. In other words, things could have been worse.
\nBut across the 12 central bank districts, the change from February to March was palpable in terms of sentiment: Uncertainty tied to tariffs and trade wars was \u201cpervasive,\u201d according to comments from bankers. Overall, four districts saw growth.\u00a0 Three districts saw things as relatively unchanged. That left five districts with declining trends.
\nSpending, overall, was lower, at least for non-automobile purchases. In a demonstration of front-loading ahead of tariffs, vehicle sales gained ground.
\nThe Federal Reserve released the third installment of this year\u2019s Beige Book showing decreased performance on consumer spending in six of 12 districts, while only three saw an uptick. On a positive note, five districts reported improvements in the job market while three reported worse conditions.
\n
Given the front-loading, the banks\u2019 observations indicate that retail figures for the sector may worsen in the near term due to this substitution effect.
\nAs recently reported by PYMNTS, motor vehicle and parts dealers performed strongly in March, growing 5.3% over the month after contractions in January (-3.4%) and February (-1.6%). Compared to March 2024, the sector experienced an 8.8% increase.
\nRegarding employment, reports indicate that hiring was generally slower for consumer-facing firms than for business-to-business firms. Another symptom of the underlying uncertainty can be found in several districts reporting that firms were taking what has been described in the report as a \u201cwait-and-see approach\u201d to employment, pausing or slowing hiring until there is more clarity on economic conditions. Reports of upcoming layoffs remained scattered.
\nThis generally coincides with the latest batch of government data on the topic. The most recent Jobs Openings and Labor Turnover Survey by the Bureau of Labor Statistics points toward muted but stable trend of job openings and separations, consistent with a general strategy of reducing headcount by attrition rather than layoffs.
\n![\"\"](\"https://www.pymnts.com/wp-content/uploads/2025/04/Figure-2-consumer-sentiment.jpg?w=349\")
A rather lackluster performance in the job market can soon become a deterrent to consumer spending. A recent survey run by the New York Fed shows that just 54.8% of respondents were satisfied with their wage at their current job in March 2025, down from 55.9% in November 2024 and 55.6% in March 2024.
\nThis means that nearly half of consumers find their current compensation insufficient or incompatible with their professional proficiency. The share of respondents satisfied with prospects for advancement at current job also fell in March, to 48.7% from 50.4% in the November run.
\nReports from multiple economic outlets, like the Conference Board, point toward depressed consumer sentiment as a key limitation to the economy operating at its full potential, inducing downward adjustment to economic projections. We may not be in the recession zone \u2014 but connecting the dots shows that many observers anticipating disappointing economic growth.
\n\n
The post Fed Survey Says Pervasive Uncertainty Hampers Companies\u2019 Hiring and Growth Prospects appeared first on PYMNTS.com.
\n", "content_text": "Perhaps the best, or most positive, finding in the Federal Reserve\u2019s latest qualitative survey of the economy and its prospects boils down to this:\nEconomic activity, at least as measured in March, was mixed. In other words, things could have been worse.\nBut across the 12 central bank districts, the change from February to March was palpable in terms of sentiment: Uncertainty tied to tariffs and trade wars was \u201cpervasive,\u201d according to comments from bankers. Overall, four districts saw growth.\u00a0 Three districts saw things as relatively unchanged. That left five districts with declining trends.\nSpending, overall, was lower, at least for non-automobile purchases. In a demonstration of front-loading ahead of tariffs, vehicle sales gained ground.\nThe Federal Reserve released the third installment of this year\u2019s Beige Book showing decreased performance on consumer spending in six of 12 districts, while only three saw an uptick. On a positive note, five districts reported improvements in the job market while three reported worse conditions.\n\nGiven the front-loading, the banks\u2019 observations indicate that retail figures for the sector may worsen in the near term due to this substitution effect.\nAs recently reported by PYMNTS, motor vehicle and parts dealers performed strongly in March, growing 5.3% over the month after contractions in January (-3.4%) and February (-1.6%). Compared to March 2024, the sector experienced an 8.8% increase.\nWait and See Approach\nRegarding employment, reports indicate that hiring was generally slower for consumer-facing firms than for business-to-business firms. Another symptom of the underlying uncertainty can be found in several districts reporting that firms were taking what has been described in the report as a \u201cwait-and-see approach\u201d to employment, pausing or slowing hiring until there is more clarity on economic conditions. Reports of upcoming layoffs remained scattered.\nThis generally coincides with the latest batch of government data on the topic. The most recent Jobs Openings and Labor Turnover Survey by the Bureau of Labor Statistics points toward muted but stable trend of job openings and separations, consistent with a general strategy of reducing headcount by attrition rather than layoffs.\n\nA rather lackluster performance in the job market can soon become a deterrent to consumer spending. A recent survey run by the New York Fed shows that just 54.8% of respondents were satisfied with their wage at their current job in March 2025, down from 55.9% in November 2024 and 55.6% in March 2024.\nThis means that nearly half of consumers find their current compensation insufficient or incompatible with their professional proficiency. The share of respondents satisfied with prospects for advancement at current job also fell in March, to 48.7% from 50.4% in the November run.\nReports from multiple economic outlets, like the Conference Board, point toward depressed consumer sentiment as a key limitation to the economy operating at its full potential, inducing downward adjustment to economic projections. We may not be in the recession zone \u2014 but connecting the dots shows that many observers anticipating disappointing economic growth.\n \nThe post Fed Survey Says Pervasive Uncertainty Hampers Companies\u2019 Hiring and Growth Prospects appeared first on PYMNTS.com.", "date_published": "2025-04-23T19:10:28-04:00", "date_modified": "2025-04-23T19:10:28-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/help-wanted-beige-book.jpg", "tags": [ "beige book", "COnference Board", "Consumer Spending", "Economy", "employment", "federal reserve", "Jobs Openings and Labor Turnover Survey", "News", "PYMNTS News", "tariffs", "Uncertainty" ] }, { "id": "https://www.pymnts.com/?p=2690121", "url": "https://www.pymnts.com/transportation/2025/gm-ceo-on-tariffs-and-gms-ev-future/", "title": "GM CEO on Tariffs and GM\u2019s EV Future", "content_html": "General Motors is having \u201cvery productive\u201d conversations with the Trump administration regarding the new 25% automotive tariffs, according to CEO Mary Barra.
\nDuring a fireside chat at the Semafor World Economy Summit 2025 on Wednesday (April 23), the veteran automotive executive said that the automaker is aligned with the president on his overall goal.
\n\u201cThe president and the administration want to have a strong manufacturing sector in this country, and I think they very much believe they want to have a strong U.S. auto industry. So from that perspective, we\u2019re very much aligned,\u201d said Barra, who has led GM since 2014.
\nBarra said the conversations have been \u201cconstructive\u201d as GM makes an effort to help the administration understand the capital-intensive, multiyear investment cycles of the automotive industry and its complex supply chain.
\nWhile declining to specify the potential financial impact of tariffs ahead of GM\u2019s earnings report next week, Barra believes that harming U.S. automakers \u201cis not the intent\u201d of the administration\u2019s policies.
\nDuring this period of uncertainty, she said GM is focusing on driving organizational efficiency and eliminating bureaucracy.
\nBarra said GM has been enhancing the resiliency of its supply chain after going through such shocks as COVID-19 and the chip shortage.
\nWhat the auto industry needs is \u201cclarity\u201d and \u201cconsistency,\u201d Barra said. There is a five- to six-year development cycle for new vehicles, so predictable public policies are crucial to help GM make decisions.
\nWhen asked about competition from Chinese automakers, Barra acknowledged that their vehicles are competitive while pointing out that \u201cthe industry is subsidized by the country.\u201d
\nShe said GM’s vehicles \u201cstack up quite well\u201d component-by-component against Chinese rivdrals but emphasized the need for fair trade.
\n\u201cI generally believe in free trade, but I think you have to have a level playing field,\u201d Barra said. \u201cI think that\u2019s what the administration is looking to achieve.\u201d
\nRead more: Report: GM Cuts 1,000 Jobs at Cruise After Ending Robotaxi Project
\nOn the electric vehicle (EV) front, Barra remains a believer in EVs for GM\u2019s future and expressed confidence that consumers will eventually prefer them to gas-powered vehicles.
\nLast year, GM said it would delay plans for a new Buick EV as well as push back the opening of an EV truck factory, according to The Wall Street Journal. It also sold its stake in a Michigan battery plant joint venture.
\nBarra did acknowledge that price and the insufficient number of chargers are barriers to EV adoption. Many current EV owners still maintain a gasoline vehicle for longer trips due to \u201ccharge anxiety,\u201d she said.
\nHowever, GM is investing in charging infrastructure, including a partnership with Pilot Flying J to build charging stations along interstate highways, and a deal with Tesla to access its Supercharger Network.
\nOnce the infrastructure is in place, Barra said consumers will go electric. \u201cIf you\u2019ve had an opportunity to drive an electric vehicle, never having to go to the gas station, the fact that you have instant torque, EVs … I think over time,\u201d EVs will be the consumers\u2019 choice.
\nBarra said GM has been recruiting top talent from tech companies to lead its EV transformation, including executives from Apple, Cisco and Tesla. \u201cIn our industry, that is so competitive and moving so quickly … you can\u2019t afford to get it wrong in your first cycle,\u201d she said.
\nRegarding GM\u2019s plans for autonomous vehicles (AVs), Barra said safety remains the primary consideration. Last December, GM shut down its Cruise robotaxi business and absorbed the technology and its engineering staff. Barra said GM is now focusing on personal autonomy rather than shuttling the public in robotaxis.
\nBarra then cited the success of GM\u2019s Super Cruise system \u2014 a driver assistance, but not autonomous, technology. It lets drivers take their hands off the wheel and feet off the pedals. Drivers still need to pay attention, but \u201cyou\u2019ll arrive at your destination much more relaxed.\u201d
\nShe said 85% of drivers who have experienced it \u201cwould either not buy a car that didn\u2019t have it or would strongly prefer it in their next vehicle.\u201d
\nGM is working to advance Super Cruise from the current Level 2 autonomy (driver assistance) toward Level 3 and eventually Level 4, where \u201cthe vehicle is responsible and the individual is really no longer required to pay attention all the time,\u201d Barra said.
\nAs GM navigates these industry shifts, Barra remains focused on the company\u2019s mission to \u201ccreate a world with zero crashes, zero emissions and zero congestion,\u201d while it is \u201calways going to be guided by the consumer.\u201d
\nPhoto: GM CEO Mary Barra from livestream
\nThe post GM CEO on Tariffs and GM\u2019s EV Future appeared first on PYMNTS.com.
\n", "content_text": "General Motors is having \u201cvery productive\u201d conversations with the Trump administration regarding the new 25% automotive tariffs, according to CEO Mary Barra.\nDuring a fireside chat at the Semafor World Economy Summit 2025 on Wednesday (April 23), the veteran automotive executive said that the automaker is aligned with the president on his overall goal.\n\u201cThe president and the administration want to have a strong manufacturing sector in this country, and I think they very much believe they want to have a strong U.S. auto industry. So from that perspective, we\u2019re very much aligned,\u201d said Barra, who has led GM since 2014.\nBarra said the conversations have been \u201cconstructive\u201d as GM makes an effort to help the administration understand the capital-intensive, multiyear investment cycles of the automotive industry and its complex supply chain. \nWhile declining to specify the potential financial impact of tariffs ahead of GM\u2019s earnings report next week, Barra believes that harming U.S. automakers \u201cis not the intent\u201d of the administration\u2019s policies.\nDuring this period of uncertainty, she said GM is focusing on driving organizational efficiency and eliminating bureaucracy.\nBarra said GM has been enhancing the resiliency of its supply chain after going through such shocks as COVID-19 and the chip shortage.\nWhat the auto industry needs is \u201cclarity\u201d and \u201cconsistency,\u201d Barra said. There is a five- to six-year development cycle for new vehicles, so predictable public policies are crucial to help GM make decisions.\nWhen asked about competition from Chinese automakers, Barra acknowledged that their vehicles are competitive while pointing out that \u201cthe industry is subsidized by the country.\u201d \nShe said GM’s vehicles \u201cstack up quite well\u201d component-by-component against Chinese rivdrals but emphasized the need for fair trade.\n\u201cI generally believe in free trade, but I think you have to have a level playing field,\u201d Barra said. \u201cI think that\u2019s what the administration is looking to achieve.\u201d\nRead more: Report: GM Cuts 1,000 Jobs at Cruise After Ending Robotaxi Project\nEV and AV Updates\nOn the electric vehicle (EV) front, Barra remains a believer in EVs for GM\u2019s future and expressed confidence that consumers will eventually prefer them to gas-powered vehicles.\nLast year, GM said it would delay plans for a new Buick EV as well as push back the opening of an EV truck factory, according to The Wall Street Journal. It also sold its stake in a Michigan battery plant joint venture.\nBarra did acknowledge that price and the insufficient number of chargers are barriers to EV adoption. Many current EV owners still maintain a gasoline vehicle for longer trips due to \u201ccharge anxiety,\u201d she said.\nHowever, GM is investing in charging infrastructure, including a partnership with Pilot Flying J to build charging stations along interstate highways, and a deal with Tesla to access its Supercharger Network.\nOnce the infrastructure is in place, Barra said consumers will go electric. \u201cIf you\u2019ve had an opportunity to drive an electric vehicle, never having to go to the gas station, the fact that you have instant torque, EVs … I think over time,\u201d EVs will be the consumers\u2019 choice.\nBarra said GM has been recruiting top talent from tech companies to lead its EV transformation, including executives from Apple, Cisco and Tesla. \u201cIn our industry, that is so competitive and moving so quickly … you can\u2019t afford to get it wrong in your first cycle,\u201d she said. \nRegarding GM\u2019s plans for autonomous vehicles (AVs), Barra said safety remains the primary consideration. Last December, GM shut down its Cruise robotaxi business and absorbed the technology and its engineering staff. Barra said GM is now focusing on personal autonomy rather than shuttling the public in robotaxis.\nBarra then cited the success of GM\u2019s Super Cruise system \u2014 a driver assistance, but not autonomous, technology. It lets drivers take their hands off the wheel and feet off the pedals. Drivers still need to pay attention, but \u201cyou\u2019ll arrive at your destination much more relaxed.\u201d\nShe said 85% of drivers who have experienced it \u201cwould either not buy a car that didn\u2019t have it or would strongly prefer it in their next vehicle.\u201d\nGM is working to advance Super Cruise from the current Level 2 autonomy (driver assistance) toward Level 3 and eventually Level 4, where \u201cthe vehicle is responsible and the individual is really no longer required to pay attention all the time,\u201d Barra said.\nAs GM navigates these industry shifts, Barra remains focused on the company\u2019s mission to \u201ccreate a world with zero crashes, zero emissions and zero congestion,\u201d while it is \u201calways going to be guided by the consumer.\u201d\nPhoto: GM CEO Mary Barra from livestream\nThe post GM CEO on Tariffs and GM\u2019s EV Future appeared first on PYMNTS.com.", "date_published": "2025-04-23T18:18:38-04:00", "date_modified": "2025-04-23T18:18:38-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/Mary-Barra-GM.png", "tags": [ "Autonomous vehicles", "avs", "Donald Trump", "driver assistance", "electric vehicles", "EVs", "general motors", "GM", "Mary Barra", "News", "PYMNTS News", "Semafor World Economy Summit 2025", "Super Cruise", "tariffs", "Transportation" ] }, { "id": "https://www.pymnts.com/?p=2690124", "url": "https://www.pymnts.com/antitrust/2025/google-chrome-worth-50-billion-dollars-duckduckgo-ceo-tells-court/", "title": "Google\u2019s Chrome Worth $50 Billion, DuckDuckGo CEO Tells Court", "content_html": "If Google were ordered to spin off Chrome, the browser could be sold for as much as $50 billion, DuckDuckGo CEO Gabriel Weinberg told a court Wednesday (April 23).
\nWeinberg, whose company is a search engine and browser rival of Google, said this while testifying during the Google antitrust trial, Bloomberg reported Wednesday.
\nIn that trial, the court is considering remedies after determining that Google has a monopoly in the search market. One remedy proposed by the Department of Justice would require the company to sell Chrome.
\nIn his \u201cback-of-the-envelope\u201d estimate of the value of Chrome, Weinberg said he focused on the browser\u2019s user base, according to the report.
\nThe estimate is higher than the $20 billion value estimated by Bloomberg Intelligence analyst Mandeep Singh in November, and a $50 billion price tag could reduce the number of offers for the browser, the report said.
\nOpenAI Head of Product and ChatGPT Nick Turley told the court Tuesday (April 22) that OpenAI and \u201cmany other parties\u201d would try to buy Chrome if it were available.
\nChatGPT can be downloaded as an extension for the Chrome browser, but it would be a better product if Chrome were more deeply integrated into OpenAI, Turley said.
\nIn that case, OpenAI would \u201chave the ability to introduce users into what an AI-first experience looks like,\u201d he added.
\nTurley also told the court Tuesday that OpenAI approached Google about a partnership to power ChatGPT last summer but got turned down.
\nOpenAI was experiencing issues with its existing search provider and was years away from having ChatGPT be able to answer most queries using its own search technology, so the company asked Google about an API that would improve the AI chatbot\u2019s ability to deliver accurate and up-to-date answers, Turley said.
\nGoogle declined the request in August, he added.
\nThis three-week antitrust trial started Monday (April 21) and is being heard by U.S. District Judge Amit Mehta, the same judge who ruled in August that Google illegally maintained a monopoly in the search business with practices like paying Apple to make its search engine the default option on that company\u2019s devices.
\nThe post Google\u2019s Chrome Worth $50 Billion, DuckDuckGo CEO Tells Court appeared first on PYMNTS.com.
\n", "content_text": "If Google were ordered to spin off Chrome, the browser could be sold for as much as $50 billion, DuckDuckGo CEO Gabriel Weinberg told a court Wednesday (April 23).\nWeinberg, whose company is a search engine and browser rival of Google, said this while testifying during the Google antitrust trial, Bloomberg reported Wednesday.\nIn that trial, the court is considering remedies after determining that Google has a monopoly in the search market. One remedy proposed by the Department of Justice would require the company to sell Chrome.\nIn his \u201cback-of-the-envelope\u201d estimate of the value of Chrome, Weinberg said he focused on the browser\u2019s user base, according to the report.\nThe estimate is higher than the $20 billion value estimated by Bloomberg Intelligence analyst Mandeep Singh in November, and a $50 billion price tag could reduce the number of offers for the browser, the report said.\nOpenAI Head of Product and ChatGPT Nick Turley told the court Tuesday (April 22) that OpenAI and \u201cmany other parties\u201d would try to buy Chrome if it were available.\nChatGPT can be downloaded as an extension for the Chrome browser, but it would be a better product if Chrome were more deeply integrated into OpenAI, Turley said.\nIn that case, OpenAI would \u201chave the ability to introduce users into what an AI-first experience looks like,\u201d he added.\nTurley also told the court Tuesday that OpenAI approached Google about a partnership to power ChatGPT last summer but got turned down.\nOpenAI was experiencing issues with its existing search provider and was years away from having ChatGPT be able to answer most queries using its own search technology, so the company asked Google about an API that would improve the AI chatbot\u2019s ability to deliver accurate and up-to-date answers, Turley said.\nGoogle declined the request in August, he added.\nThis three-week antitrust trial started Monday (April 21) and is being heard by U.S. District Judge Amit Mehta, the same judge who ruled in August that Google illegally maintained a monopoly in the search business with practices like paying Apple to make its search engine the default option on that company\u2019s devices.\nThe post Google\u2019s Chrome Worth $50 Billion, DuckDuckGo CEO Tells Court appeared first on PYMNTS.com.", "date_published": "2025-04-23T17:58:38-04:00", "date_modified": "2025-04-23T17:58:38-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/03/Google-Chrome.jpg", "tags": [ "ANTITRUST", "Big Tech", "Chrome", "Department of Justice", "DuckDuckGo", "Google", "Lawsuits", "legal", "News", "PYMNTS News", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2690095", "url": "https://www.pymnts.com/news/regulation/2025/european-union-fines-apple-meta-digital-markets-act-violations/", "title": "EU Fines Apple and Meta for Digital Markets Act Violations", "content_html": "The European Commission fined Apple 500 million euros (about $566 million) and Meta 200 million euros (about $226 million) Wednesday (April 23), saying the companies violated the Digital Markets Act (DMA).
\nApple breached the DMA\u2019s anti-steering obligation by imposing restrictions that prevent app developers from informing consumers about offers that are available outside Apple\u2019s App Store, the commission said in a Wednesday press release.
\nTogether with the fine, the commission ordered Apple to remove these restrictions, per the release.
\nApple did not immediately reply to PYMNTS\u2019 request for comment.
\nIn a statement provided to CNBC, the company said: \u201cToday\u2019s announcements are yet another example of the European Commission unfairly targeting Apple in a series of decisions that are bad for the privacy and security of our users, bad for products, and force us to give away our technology for free.\u201d
\nIn the case of Meta, the commission said in its press release that the company breached the DMA\u2019s obligation to enable consumers to choose a service that uses less of their personal data but is otherwise equivalent to the \u201cpersonalized ads\u201d service.
\nMeta\u2019s \u201cConsent or Pay\u201d model, which was introduced in November 2023 and required EU users of Facebook and Instagram to consent to personalized advertising or pay a monthly subscription for an ad-free service, does not comply with the DMA, the release said.
\nAnother model that Meta introduced in November, which uses less personal data to display ads, is being assessed by the commission and is not included in this decision, according to the release.
\nMeta responded to the decision with a statement saying that the commission is trying to handicap American businesses while allowing Chinese and European ones to operate under different standards.
\n\u201cThis isn\u2019t just about a fine; the commission forcing us to change our business model effectively imposes a multibillion-dollar tariff on Meta while requiring us to offer an inferior service,\u201d Meta Chief Global Affairs Officer Joel Kaplan said in the statement. \u201cAnd by unfairly restricting personalized advertising, the European Commission is also hurting European businesses and economies.\u201d
\nThese are the first penalties imposed under the DMA, Reuters reported Wednesday.
\nThe report added that Google and X may be the next firms to face such fines.
\nThe post EU Fines Apple and Meta for Digital Markets Act Violations appeared first on PYMNTS.com.
\n", "content_text": "The European Commission fined Apple 500 million euros (about $566 million) and Meta 200 million euros (about $226 million) Wednesday (April 23), saying the companies violated the Digital Markets Act (DMA).\nApple breached the DMA\u2019s anti-steering obligation by imposing restrictions that prevent app developers from informing consumers about offers that are available outside Apple\u2019s App Store, the commission said in a Wednesday press release.\nTogether with the fine, the commission ordered Apple to remove these restrictions, per the release.\nApple did not immediately reply to PYMNTS\u2019 request for comment.\nIn a statement provided to CNBC, the company said: \u201cToday\u2019s announcements are yet another example of the European Commission unfairly targeting Apple in a series of decisions that are bad for the privacy and security of our users, bad for products, and force us to give away our technology for free.\u201d\nIn the case of Meta, the commission said in its press release that the company breached the DMA\u2019s obligation to enable consumers to choose a service that uses less of their personal data but is otherwise equivalent to the \u201cpersonalized ads\u201d service.\nMeta\u2019s \u201cConsent or Pay\u201d model, which was introduced in November 2023 and required EU users of Facebook and Instagram to consent to personalized advertising or pay a monthly subscription for an ad-free service, does not comply with the DMA, the release said.\nAnother model that Meta introduced in November, which uses less personal data to display ads, is being assessed by the commission and is not included in this decision, according to the release.\nMeta responded to the decision with a statement saying that the commission is trying to handicap American businesses while allowing Chinese and European ones to operate under different standards.\n\u201cThis isn\u2019t just about a fine; the commission forcing us to change our business model effectively imposes a multibillion-dollar tariff on Meta while requiring us to offer an inferior service,\u201d Meta Chief Global Affairs Officer Joel Kaplan said in the statement. \u201cAnd by unfairly restricting personalized advertising, the European Commission is also hurting European businesses and economies.\u201d\nThese are the first penalties imposed under the DMA, Reuters reported Wednesday.\nThe report added that Google and X may be the next firms to face such fines.\nThe post EU Fines Apple and Meta for Digital Markets Act Violations appeared first on PYMNTS.com.", "date_published": "2025-04-23T17:41:37-04:00", "date_modified": "2025-04-23T17:41:37-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/02/European-Commission-EU.jpg", "tags": [ "Apple", "Big Tech", "data", "Digital Markets Act", "EU", "European Commission", "international", "Meta", "Mobile Applications", "News", "privacy", "PYMNTS News", "regulations", "Technology", "What's Hot", "Regulation" ] }, { "id": "https://www.pymnts.com/?p=2690101", "url": "https://www.pymnts.com/cryptocurrency/2025/cantor-fitzgerald-tether-softbank-launch-3-6-billion-bitcoin-investment-firm/", "title": "Cantor Fitzgerald, Tether, SoftBank Launch $3.6 Billion Bitcoin Investment Firm", "content_html": "Twenty One Capital, a new company formed by Cantor Fitzgerald, Tether Holdings SA, and SoftBank Group, is about to become one of the largest public holders of bitcoin.
\nA Reuters report said the entity will launch with over 42,000 bitcoin (valued at about $3.6 billion), positioning it as the third-largest corporate bitcoin holder globally.
\nStablecoin issuer Tether will contribute $1.6 billion in bitcoin, with its affiliated exchange Bitfinex kicking in $600 million and Japanese technology investor SoftBank adding $900 million, the report said.
\nA statement from the company Wednesday (April 23) said Twenty One Capital will be majority-owned by Tether and Bitfinex, with SoftBank holding a minority stake.
\nStrike CEO Jack Mallers will lead the company as co-founder and CEO, according to reports. \u201cWe\u2019re not here to beat the market, we\u2019re here to build a new one. A public stock, built by bitcoiners, for bitcoiners,\u201d Mallers said in a statement.
\nThe investment vehicle was reportedly inspired by the success of bitcoin acquirer Strategy (formerly known as MicroStrategy). Bloomberg reports that Strategy has amassed about $45 billion worth of bitcoin.
\nAccording to Reuters, bitcoin is trading at $94,166, gaining more than 40% in the past six months.
\nFinancial and real estate services holding company Cantor Fitzgerald is headed by Brandon Lutnick, the son of U.S. Commerce Secretary Howard Lutnick. PYMNTS reported on the deepening ties between Cantor Fitzgerald and Tether in November.
\nA Reuters report said Cantor Fitzgerald holds 99% of Tether\u2019s U.S. Treasury reserves.
\nThe statement from Twenty One Capital said the partner companies plan to raise $585 million in additional capital through a combination of convertible bonds and equity financing.
\nCoinDesk reported that Twenty One Capital will merge with the special purpose acquisition company (SPAC) Cantor Equity Partners, which will keep its \u201cCEP\u201d NASDAQ ticker until the transaction is finalized. It is unclear when the deal is expected to close.
\nTwenty One Capital will trade on the Nasdaq under the symbol \u201cXXI\u201d after the deal closes, the report said.
\nTwenty One Capital also plans to report its performance in bitcoin per share (BPS) and bitcoin return rate (BRR), the company statement said.
\nThe post Cantor Fitzgerald, Tether, SoftBank Launch $3.6 Billion Bitcoin Investment Firm appeared first on PYMNTS.com.
\n", "content_text": "Twenty One Capital, a new company formed by Cantor Fitzgerald, Tether Holdings SA, and SoftBank Group, is about to become one of the largest public holders of bitcoin.\nA Reuters report said the entity will launch with over 42,000 bitcoin (valued at about $3.6 billion), positioning it as the third-largest corporate bitcoin holder globally.\nStablecoin issuer Tether will contribute $1.6 billion in bitcoin, with its affiliated exchange Bitfinex kicking in $600 million and Japanese technology investor SoftBank adding $900 million, the report said.\nA statement from the company Wednesday (April 23) said Twenty One Capital will be majority-owned by Tether and Bitfinex, with SoftBank holding a minority stake.\nStrike CEO Jack Mallers will lead the company as co-founder and CEO, according to reports. \u201cWe\u2019re not here to beat the market, we\u2019re here to build a new one. A public stock, built by bitcoiners, for bitcoiners,\u201d Mallers said in a statement.\nThe investment vehicle was reportedly inspired by the success of bitcoin acquirer Strategy (formerly known as MicroStrategy). Bloomberg reports that Strategy has amassed about $45 billion worth of bitcoin.\nAccording to Reuters, bitcoin is trading at $94,166, gaining more than 40% in the past six months.\nFinancial and real estate services holding company Cantor Fitzgerald is headed by Brandon Lutnick, the son of U.S. Commerce Secretary Howard Lutnick. PYMNTS reported on the deepening ties between Cantor Fitzgerald and Tether in November.\nA Reuters report said Cantor Fitzgerald holds 99% of Tether\u2019s U.S. Treasury reserves. \nThe statement from Twenty One Capital said the partner companies plan to raise $585 million in additional capital through a combination of convertible bonds and equity financing.\nCoinDesk reported that Twenty One Capital will merge with the special purpose acquisition company (SPAC) Cantor Equity Partners, which will keep its \u201cCEP\u201d NASDAQ ticker until the transaction is finalized. It is unclear when the deal is expected to close.\nTwenty One Capital will trade on the Nasdaq under the symbol \u201cXXI\u201d after the deal closes, the report said. \nTwenty One Capital also plans to report its performance in bitcoin per share (BPS) and bitcoin return rate (BRR), the company statement said.\nThe post Cantor Fitzgerald, Tether, SoftBank Launch $3.6 Billion Bitcoin Investment Firm appeared first on PYMNTS.com.", "date_published": "2025-04-23T17:33:50-04:00", "date_modified": "2025-04-23T17:33:50-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/Cantor-Fitzgerald-bitcoin-1.jpg", "tags": [ "Bitcoin", "bitfinex", "Brandon Lutnick", "Cantor Fitzgerald", "Cryptocurrency", "Howard Lutnick", "Investments", "Jack Mallers", "News", "PYMNTS News", "SoftBank Group Corp.", "strike", "Tether", "Twenty One Capital", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=2690067", "url": "https://www.pymnts.com/cryptocurrency/2025/this-week-in-crypto-a-new-sec-chair-and-billions-in-institutional-investment/", "title": "Stablecoins Push to Go Mainstream Amid Crypto Renaissance", "content_html": "This isn\u2019t last week\u2019s crypto landscape. And it\u2019s far shake from last year\u2019s, too.
\nBitcoin has surged past $90,000, signaling renewed investor confidence in crypto markets after a classically volatile first few months of 2025. Simultaneously, major financial institutions are integrating blockchain technologies and regulatory frameworks are becoming more defined.
\nThis convergence of factors is ushering in a new era for digital finance, characterized by increased institutional participation, innovative stablecoin applications and strategic moves by unexpected players.\u200b
\nThe crypto industry in 2025 finds itself at a critical juncture, shaped less by speculative booms and more by its confrontation with regulation.
\nAs Dan Boyle, partner at\u00a0Boies Schiller Flexner, told PYMNTS\u2019 Karen Webster this week, \u201ccrypto is not getting a get-out-of-jail-free card\u201d\u2014 a nod to the end of the industry\u2019s regulatory gray area and the beginning of its era of accountability.
\n\u201cThere\u2019s some strategic value to being a world leader in digital assets \u2026 If my competitor is issuing a stablecoin or tokenizing assets, am I missing out if I don\u2019t?\u201d Boyle added.
\nIn a sign of the changing times, Paul S. Atkins was\u00a0sworn into office as the 34th chairman of the\u00a0Securities and Exchange Commission (SEC) on Monday (April 21) after being confirmed by the Senate earlier this month. Atkins, who has been personally involved with digital assets, is viewed favorably by industry advocates.
\nThis shift is pushing institutional players out of the shadows, as evidenced by news this week. Major global banks, like ING, are in fact beginning to partner on stablecoin projects, motivated both by the fear of being left behind and the opportunity to define new standards. These are robust, multi-bank consortia aiming for real-world use cases \u2014 cross-border payments, corporate treasuries and eventually programmable money at scale.
\nMeanwhile, settlement infrastructure is catching up. The Lynq network \u2014 developed by Arca Labs, Tassat Group, and tZERO \u2014 promises real-time, yield-bearing settlements, a marked upgrade from legacy systems that still settle on T+2 timelines. This settlement innovation, which also includes participation from U.S. Bank, is critical for both risk management and unlocking new forms of financial products.
\nBut regulation is not just a hurdle; it\u2019s also an on-ramp for credibility. By building within clearer rules, crypto firms are opening doors to mainstream adoption. In this way, the \u201ccompliance crunch\u201d is less a death knell and more a growth spurt \u2014 setting the stage for new business models and products that would have been unimaginable in the industry\u2019s early days.
\nPutting an exclamation point on today\u2019s landscape, a Cantor Fitzgerald affiliate business is teaming up with SoftBank and Tether to create a multi-billion-dollar corporate treasury vehicle with the goal of accumulating bitcoin.
\nThey aren\u2019t alone. Upexi, a consumer products firm, is raising $100 million to accumulate Solana, echoing the \u201ccorporate treasury as crypto hedge\u201d playbook pioneered by MicroStrategy. This signals not just speculative belief, but operational integration: companies see blockchains not only as investment vehicles but as potential infrastructure for their own business models.
\nStablecoins \u2014 digital tokens pegged to fiat currency \u2014 were supposed to be crypto\u2019s killer app. In practice, their journey has been more complex.
\nOn one hand, there\u2019s an acceleration in the development of stablecoin infrastructure. Circle\u2019s launch of a stablecoin orchestration layer aims to make stablecoins \u201cinvisible\u201d in the best sense: moving money across borders, across blockchains and into the hands of consumers without them needing to understand the underlying tech. Major financial institutions are taking notice, not just with experimental projects but with real investment and product launches.\u00a0
\nThere are efforts to merge cash and crypto worlds. The partnership between CompoSecure and MoneyGram exemplifies this. By enabling cash-to-crypto conversions at thousands of global MoneyGram locations, stablecoins are made accessible to the unbanked and underbanked, potentially reshaping remittance and financial inclusion.
\nBut there\u2019s a disconnect: if stablecoins are so promising, why aren\u2019t they ubiquitous at the cash register or online checkout?
\nAs PYMNTS explored, merchant adoption is lagging. The reasons are myriad: regulatory uncertainty, concerns about fraud and reversibility, technical integration hurdles and the simple inertia of established payment methods. There\u2019s also a user experience gap \u2014 most people are not clamoring for change, especially if it\u2019s more complicated than swiping a card.
\nAdditionally, tokenization of real-world assets (RWAs) is gaining steam. With\u00a0Visa,\u00a0Mastercard and JPMorgan testing tokenized forms of cash, treasuries and even real estate, we\u2019re beginning to see the outlines of a future where everything of value can be transacted in programmable, composable digital units.\u00a0
\nStill, widespread adoption will hinge on regulatory harmonization \u2014 especially for cross-border use cases \u2014 and the resolution of critical technical bottlenecks. The race is on: can stablecoin projects solve for \u201cspendability\u201d before their window of opportunity closes?
\nWhat\u2019s clear is that the market is bifurcating. \u201cCrypto as casino\u201d remains, but is being joined by \u201ccrypto as capital market.\u201d The result: a more mature, complex and \u2014 paradoxically \u2014 less predictable ecosystem.
\nTaken together, these three trends \u2014 regulatory maturation, the real-world quest for stablecoin utility and the institutionalization of digital assets \u2014 mark a turning point. The Wild West days of crypto are fading, replaced by a convergence with mainstream finance.
\nThe stakes are enormous. Success could mean a financial system that is faster, fairer and more inclusive, leveraging the strengths of both centralized and decentralized models. Failure \u2014 or stagnation \u2014 could see the space captured by legacy interests or fragmented by regulatory balkanization.
\nIn the end, the future of crypto will be shaped not just by code, but by collaboration \u2014 between innovators, regulators, financial giants and the everyday users whose adoption will determine which experiments take root and which fade into history.
\nThe post Stablecoins Push to Go Mainstream Amid Crypto Renaissance appeared first on PYMNTS.com.
\n", "content_text": "This isn\u2019t last week\u2019s crypto landscape. And it\u2019s far shake from last year\u2019s, too. \nBitcoin has surged past $90,000, signaling renewed investor confidence in crypto markets after a classically volatile first few months of 2025. Simultaneously, major financial institutions are integrating blockchain technologies and regulatory frameworks are becoming more defined. \nThis convergence of factors is ushering in a new era for digital finance, characterized by increased institutional participation, innovative stablecoin applications and strategic moves by unexpected players.\u200b\nRegulatory Clarity and Institutional Integration\nThe crypto industry in 2025 finds itself at a critical juncture, shaped less by speculative booms and more by its confrontation with regulation. \nAs Dan Boyle, partner at\u00a0Boies Schiller Flexner, told PYMNTS\u2019 Karen Webster this week, \u201ccrypto is not getting a get-out-of-jail-free card\u201d\u2014 a nod to the end of the industry\u2019s regulatory gray area and the beginning of its era of accountability.\n\u201cThere\u2019s some strategic value to being a world leader in digital assets \u2026 If my competitor is issuing a stablecoin or tokenizing assets, am I missing out if I don\u2019t?\u201d Boyle added.\nIn a sign of the changing times, Paul S. Atkins was\u00a0sworn into office as the 34th chairman of the\u00a0Securities and Exchange Commission (SEC) on Monday (April 21) after being confirmed by the Senate earlier this month. Atkins, who has been personally involved with digital assets, is viewed favorably by industry advocates.\nThis shift is pushing institutional players out of the shadows, as evidenced by news this week. Major global banks, like ING, are in fact beginning to partner on stablecoin projects, motivated both by the fear of being left behind and the opportunity to define new standards. These are robust, multi-bank consortia aiming for real-world use cases \u2014 cross-border payments, corporate treasuries and eventually programmable money at scale.\nMeanwhile, settlement infrastructure is catching up. The Lynq network \u2014 developed by Arca Labs, Tassat Group, and tZERO \u2014 promises real-time, yield-bearing settlements, a marked upgrade from legacy systems that still settle on T+2 timelines. This settlement innovation, which also includes participation from U.S. Bank, is critical for both risk management and unlocking new forms of financial products.\nBut regulation is not just a hurdle; it\u2019s also an on-ramp for credibility. By building within clearer rules, crypto firms are opening doors to mainstream adoption. In this way, the \u201ccompliance crunch\u201d is less a death knell and more a growth spurt \u2014 setting the stage for new business models and products that would have been unimaginable in the industry\u2019s early days.\nPutting an exclamation point on today\u2019s landscape, a Cantor Fitzgerald affiliate business is teaming up with SoftBank and Tether to create a multi-billion-dollar corporate treasury vehicle with the goal of accumulating bitcoin. \nThey aren\u2019t alone. Upexi, a consumer products firm, is raising $100 million to accumulate Solana, echoing the \u201ccorporate treasury as crypto hedge\u201d playbook pioneered by MicroStrategy. This signals not just speculative belief, but operational integration: companies see blockchains not only as investment vehicles but as potential infrastructure for their own business models.\nStablecoins: The Battle for Everyday Utility\nStablecoins \u2014 digital tokens pegged to fiat currency \u2014 were supposed to be crypto\u2019s killer app. In practice, their journey has been more complex.\nOn one hand, there\u2019s an acceleration in the development of stablecoin infrastructure. Circle\u2019s launch of a stablecoin orchestration layer aims to make stablecoins \u201cinvisible\u201d in the best sense: moving money across borders, across blockchains and into the hands of consumers without them needing to understand the underlying tech. Major financial institutions are taking notice, not just with experimental projects but with real investment and product launches.\u00a0\nThere are efforts to merge cash and crypto worlds. The partnership between CompoSecure and MoneyGram exemplifies this. By enabling cash-to-crypto conversions at thousands of global MoneyGram locations, stablecoins are made accessible to the unbanked and underbanked, potentially reshaping remittance and financial inclusion.\nBut there\u2019s a disconnect: if stablecoins are so promising, why aren\u2019t they ubiquitous at the cash register or online checkout? \nAs PYMNTS explored, merchant adoption is lagging. The reasons are myriad: regulatory uncertainty, concerns about fraud and reversibility, technical integration hurdles and the simple inertia of established payment methods. There\u2019s also a user experience gap \u2014 most people are not clamoring for change, especially if it\u2019s more complicated than swiping a card.\nAdditionally, tokenization of real-world assets (RWAs) is gaining steam. With\u00a0Visa,\u00a0Mastercard and JPMorgan testing tokenized forms of cash, treasuries and even real estate, we\u2019re beginning to see the outlines of a future where everything of value can be transacted in programmable, composable digital units.\u00a0\nStill, widespread adoption will hinge on regulatory harmonization \u2014 especially for cross-border use cases \u2014 and the resolution of critical technical bottlenecks. The race is on: can stablecoin projects solve for \u201cspendability\u201d before their window of opportunity closes?\nWhat\u2019s clear is that the market is bifurcating. \u201cCrypto as casino\u201d remains, but is being joined by \u201ccrypto as capital market.\u201d The result: a more mature, complex and \u2014 paradoxically \u2014 less predictable ecosystem.\nTaken together, these three trends \u2014 regulatory maturation, the real-world quest for stablecoin utility and the institutionalization of digital assets \u2014 mark a turning point. The Wild West days of crypto are fading, replaced by a convergence with mainstream finance.\nThe stakes are enormous. Success could mean a financial system that is faster, fairer and more inclusive, leveraging the strengths of both centralized and decentralized models. Failure \u2014 or stagnation \u2014 could see the space captured by legacy interests or fragmented by regulatory balkanization.\nIn the end, the future of crypto will be shaped not just by code, but by collaboration \u2014 between innovators, regulators, financial giants and the everyday users whose adoption will determine which experiments take root and which fade into history.\nThe post Stablecoins Push to Go Mainstream Amid Crypto Renaissance appeared first on PYMNTS.com.", "date_published": "2025-04-23T17:13:59-04:00", "date_modified": "2025-04-23T20:50:54-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/This-Week-in-Crypto-Web3-investments.jpg", "tags": [ "Bitcoin", "consumer finances", "crypto", "Crypto Regulations", "Cryptocurrency", "DeFi", "digital assets", "Featured News", "financial institutions", "News", "Paul Atkins", "PYMNTS News", "regulations", "SEC", "stablecoins", "This Week in Crypto", "This Week in Web3", "Web3" ] } ] }