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Onetime cryptocurrency mogul Do Kwon was sentenced Thursday to 15 years in prison after a $40 billion crash revealed his crypto ecosystem to be a fraud. Victims said the 34-year-old financial technology whiz weaponized their trust to convince them that the investment — secretly propped up by cash infusions — was safe. Kwon, a Stanford graduate known by some as “the cryptocurrency king,” apologized after listening as victims — one in court and others by telephone — described the scam’s toll: wiping out nest eggs, depleting charities and wrecking lives. One told the judge in a letter that he contemplated suicide after his father lost his retirement money in the scheme. …

For all of the risks and potential dangers associated with crypto, it is still becoming an increasingly mainstream asset. That’s according to the latest data from the National Cryptocurrency Association (NCA), a non-profit aimed at helping Americans better understand cryptocurrency and digital assets. One in five Americans currently owns cryptocurrency in some shape or form, according to the NCA’s 2025 State of Crypto Holders Report. The report, which was produced with The Harris Poll, also finds that nearly 40% use crypto to pay for goods or services, and that two-thirds say that crypto “has a positive impact on their lives.” The data was sourced from a Harris Po…

Picture this: You walk into a coffee shop, order a latte, and pay with your phone. To you, it feels like checking out with Venmo. And to the cashier, it’s business as usual. But behind the scenes, something different is happening: You just paid with crypto. This isn’t science fiction—it’s already happening. From Starbucks to Walmart, retailers are rolling out crypto acceptance, and consumers are responding. Surveys show 39% of U.S. crypto holders have shopped with crypto (with 9% doing so daily), while 23% of non-holders say they’d use crypto if they could shop with it. That’s millions of shoppers who want the choice to pay with digital assets, but don’t realize t…

2025 was a banner year for cryptocurrencies on many fronts. Global regulation eased. Stablecoins powered $46 trillion in annual transactions. And major shifts in U.S. government policy spurred wider adoption. But with that expansion came a notable bump in crypto fraud. A new report from Chainalysis, a blockchain data platform based in New York City, estimates that $17 billion in crypto was stolen last year through fraud and scams. Impersonation scams, where criminals pretend to be trusted entities or use fake tokens or websites to trick victims into sending them crypto, were up a jaw-dropping 1,400% year over year. And while it’s much too early to gather any concl…

President The President recently promised to make America the “crypto capital of the world.” And his administration is working hard to make that pledge a reality. White House officials have established a working group on digital asset markets and directed federal agencies to craft a strategy to cement U.S. leadership. The president’s legislative team, meanwhile, helped push the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act),through Congress earlier this summer, thus creating the first federal framework for stablecoins. And they’re working to pass the Clarity Act (Digital Asset Market Clarity Act), which would finally settle dispute…

This week in branding news, Volvo released its first-ever entirely AI-generated ad, fashion brand Pretty Little Thing attempted to overhaul its brand image, and Crystal Light made a late bid on the canned cocktail craze. Here’s everything you need to know. Volvo veers into the uncanny valley The news: Volvo just released a new AI-generated ad, and it doesn’t include a single car. That was probably a mistake. Big picture: The ad, which aired in Saudi Arabia, is Volvo’s first spot made entirely with AI. Created by the agency Lion, the minute-long video used Midjourney for visuals, Runway editing software for touch-ups, and ChatGPT for narration. It’s essentially …

CSX railroad announced Monday that it had replaced its CEO less than two months after an investment fund urged it to either find another railroad to merge with to better compete with the proposed transcontinental Union Pacific railroad or fire outgoing CEO Joe Hinrichs. The outgoing CEO, who came to the railroad in 2022 after a long career with Ford, focused on repairing CSX’s relationship with its workers and labor unions and unifying the team after a bitter contract fight. But Ancora Holdings, which helped spur major changes at Norfolk Southern, said CSX’s operating performance deteriorated significantly under Hinrichs’ leadership. Hinrichs resigned to clear the way…

The Centers for Disease Control and Prevention (CDC), Food and Drug Administration (FDA), and health officials in several states are investigating a multistate Salmonella infection outbreak linked to whole cucumbers grown in Florida and shipped around the country. As a result of the ongoing investigation, health officials have recalled whole cucumbers grown by Bedner Growers Inc. and distributed by Fresh Start Produce Inc. between April 29, 2025, and May 19, 2025. As of Monday, 26 people have been infected with the outbreak strain of Salmonella. Cases have been reported in 15 states. Nine people have been hospitalized; no deaths have been reported. Several pe…

Earlier this month, the Food and Drug Administration (FDA) and the Centers for Disease Control and Prevention (CDC) announced a multistate investigation of a Salmonella outbreak linked to cucumbers believed to have been grown by Bedner Growers Inc. of Boynton Beach, Florida. That outbreak has so far sickened 26 people in 15 states. And now, that outbreak has caused Walmart to recall a select cucumber product from some of its stores. Here’s what you need to know about Walmart’s cucumber recall. What’s happened? On May 22, Walmart announced that it was recalling a select cucumber product over fears that it had the possibility of being contaminated with Salmonella…

Hi there! My name is Marcus Collins, DBA, and I study culture and its influence and impact on human behavior at the Ross School of Business at the University of Michigan. Each week, this column will explore the inner workings of organizational culture and the mechanisms that make it tick. Every entry will be accompanied by an episode from my podcast, From the Culture, that digs deeper into the culture of work from my conversations with the organizational leaders that make it all happen. If culture eats strategy for breakfast, then this is the most important conversation in business that you are not having. Sign up for the newsletter to make sure you don’t miss a beat. …

The traditional model of leadership, where a single individual is expected to provide all the answers, is becoming obsolete. In a world of accelerating complexity, hyper-specialization, and rapid change, no leader can single-handedly navigate the full spectrum of challenges facing modern organizations. The future of leadership is about curating the best insights, talent, and ideas, not dictating the direction. The best leaders will be those who act as architects of collaboration, assembling diverse perspectives and fostering an environment where expansive thinking thrives. This shift in leadership isn’t just about delegation—it’s about creating conditions for con…

Most of us are used to using internet chatbots like ChatGPT and DeepSeek in one of two ways: via a web browser or via their dedicated smartphone apps. There are two drawbacks to this. First, their use requires an internet connection. Second, everything you type into the chatbot is sent to the companies’ servers, where it is analyzed and retained. In other words: the more you use the chatbot the more the company knows about you. This is a particular worry surrounding DeepSeek that American lawmakers have expressed. But thanks to a few innovative and easy-to-use desktop apps, LM Studio and GPT4All, you can bypass both these drawbacks. With the apps, you can run various …

The Fast Company Impact Council is a private membership community of influential leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual membership dues for access to peer learning and thought leadership opportunities, events and more. The emergence of generative AI and digital transformation has redefined customer-company relationships, empowering consumers like never before. As argued in a previous article I wrote, today’s customer is no longer a mere segment or target consumer, but a brand seeking vendors to help create their unique identity. Companies must now redefine their value propositions to meet thes…

When it comes to inquiring about—ahem—certain products, shoppers prefer the inhuman touch. That is what we found in a study of consumer habits when it comes to products that traditionally have come with a degree of embarrassment—think acne cream, diarrhea medication, adult sex toys, or personal lubricant. While brands may assume consumers hate chatbots, our series of studies involving more than 6,000 participants found a clear pattern: When it comes to purchases that make people feel embarrassed, consumers prefer chatbots over human service reps. In one experiment, we asked participants to imagine shopping for medications for diarrhea and hay fever. They were …

D-Wave is about to make waves. The quantum computing firm announced on Wednesday that, for the first time, it was able to “successfully simulate the properties of magnetic materials” using its Advantage2 annealing quantum computer, which “allows us to invent and evaluate new materials without needing to build them in the lab,” D-Wave CEO Dr. Alan Baratz tells Fast Company. In effect, this means that D-Wave has achieved “quantum supremacy” on a useful problem, something it says nobody else has yet been able to accomplish, and which is detailed in a paper published on Wednesday in the journal Science. “This is a really important moment in time for the entire qu…

Shares in major quantum computer companies were on the rise again in premarket trading on Tuesday, highlighting what has been a volatile couple of weeks for a nascent industry that continues to captivate. Here’s what’s driving the latest news: D-Wave announces Advantage2 By far, Palo Alto-based D-Wave Quantum Inc (NYSE: QBTS) is seeing the biggest boost in premarket trading, with its stock up more than 12% as of this writing. This boost follows a 7% increase in D-Wave shares on Monday. Investors are likely excited by news on Tuesday morning in which D-Wave announced the general availability of its sixth-generation Advantage2 quantum computing system, which the…

U.S. quantum computing firm D-Wave Quantum has struck a deal with a company called Swiss Quantum Technology (SQT) to bring D-Wave’s Advantage2 quantum computer to Europe. The deal, which amounts to €10 million ($11.63 million), will see D-Wave’s quantum computer deployed in Italy, where it will play a role in supporting the Italians’ efforts toward large-scale digital transformation, D-Wave announced on Wednesday. It will be part of a joint effort—collectively called the “Q-Alliance”—between D-Wave and IonQ, another American quantum computing company. In its announcement Wednesday, D-Wave said little about what SQT does, and scant information about the compan…

Neko Health is taking its body-scanning technology to America. The Swedish diagnostic health clinic, cofounded by Hjalmar Nilsonne and Daniel Ek (also the cofounder and CEO of Spotify), said on Wednesday that it will launch a location in New York City, its first in the United States, in the spring of this year. The three-year-old startup, which offers comprehensive body scans to monitor risk factors for a range of health conditions from pre-diabetes to cancer, already has a presence in London, Manchester, and Stockholm. “For the first time, technology is enabling a fundamentally new healthcare experience centered on prevention,” Nilsonne, who is the company’s …

Anyone well-versed in internet lore will be familiar with the image of a slightly deflated child’s ball pit on a hotel convention room floor. DashCon (originally called Tumblr-Con, although not officially affiliated with Tumblr) was a fan convention held in Schaumburg, Illinois, back in 2014. It was originally intended to bring the Tumblr community together and scheduled to feature vendors and special guests from fandoms like Doctor Who and Sherlock. After a string of disasters, the weekend culminated in the 17-year-old organizer, Nessie O’Neil, going around with a paper bag asking attendees for donations to make up the roughly $17,000 needed to keep the conventi…