Tag: million

  • Snap breaks into 'startup squads' as ad revenue stalls

    Snap breaks into 'startup squads' as ad revenue stalls

    Snap is breaking itself apart and rebuilding from within. In a new annual company letter, CEO Evan Spiegel just announced the company is restructuring around small “startup squads” of 10 to 15 people to better compete against larger competitors.

    The move comes as the 5,000-person company faces mounting pressure. Advertising revenue growth flatlined at 4% in the second quarter, and North American daily active users declined 2% to 98 million, a troubling sign in Snap’s most important market.

    Spiegel does highlight one bright spot: Snapchat+ subscriptions now generate over $700 million in annual recurring revenue from more than 15 million paying subscribers, making direct revenue “one of Snap’s fastest-growing opportunities.”

    Snap is also doubling down on Specs, building its own AR glasses that Spiegel envisions will replace smartphones entirely. He calls them a “a once-in-a-generation transformation towards human-centered computing.” (Meta and Google see the same future, partnering with Ray-Ban and Warby Parker, respectively.)

    Spiegel acknowledges the current stock price “reflects doubt” but writes that there’s “startup-style return potential” at Snap’s roughly $12 billion valuation. Left unsaid: that number is down 90% from September 2021, when Snap’s market cap topped $116 billion during the height of social media mania.

  • ‘Temporary reprieve’: Why is Arctic Sea ice melting more slowly despite global warming?

    ‘Temporary reprieve’: Why is Arctic Sea ice melting more slowly despite global warming?

    Experts say this pause shouldn’t be mistaken for recovery, as Arctic sea ice coverage is still much lower than it was in the 1980s.

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    Arctic sea ice has been melting at a slower rate over the last 20 years, despite human-caused global warming, new research has found.
    Since satellite records began in the late 1970s, sea ice coverage at the end of summer has halved. Global warming has been shown to be responsible for up to two-thirds of this melting, and the remaining third is down to natural fluctuations in the Earth’s climate systems.

    With the Arctic warming at nearly four times the global average, more than 10,000 cubic kilometres of sea ice have been lost since the 1980s – an amount that would fill four billion Olympic swimming pools. In September 2012, Arctic sea ice shrank to its smallest ever extent at just 3.41 million square kilometres, leading to speculation about when the Arctic might see its first ‘ice-free’ summer.
    New research shows, however, that the pace of Arctic sea ice loss has slowed markedly since the late 2000s, with no statistically significant decline for the last 20 years.
    Scientists say this is a temporary slowdown that may continue for a further five to 10 years. When it ends, it is likely to be followed by faster-than-average sea ice decline.

    Related

    Italy’s Ventina glacier has melted so much geologists now can only monitor it remotely‘Climate change hasn’t stopped,’ warns EU climate monitor as global heat record streak ends

    Dr Mark England, who led the study while at the University of Exeter in the UK, says it may seem “surprising” to find a temporary slowdown in sea ice decline given human-caused climate change.

    “It is, however, entirely consistent with climate model simulations and is likely due to natural climate variability superimposed on the human-driven long-term trend,” he explains.
    “This is only a ‘temporary reprieve’ and before long the rate of sea ice decline will catch up with the longer term rate of sea ice loss.”

    The slowest rate of sea ice loss since records began

    The study, published this month in the journal Geophysical Research Letters by researchers from the University of Exeter, looked at Arctic sea ice cover using two different datasets of satellite measurements from 1979 to the present.
    Focusing on September, when Arctic sea ice cover is at its lowest during the year, they found that between 2005 and 2024, the ice declined by 0.35 million square kilometres during the first decade and 0.29 million square kilometres during the second.

    This makes the rate of loss over the last two decades the slowest for any 20-year period since the start of satellite records in 1979. It was four to five times slower than the peak 20-year period between 1993 and 2012.
    Compared to the longer-term rate of decline since 1979, which is 0.78 to 0.79 million square kilometres per decade, that marked a 55 to 63 per cent slowdown.
    “It’s a ‘pause’ in the rate of loss of sea ice. Arctic sea ice is still far lower than it was in the 1980s, and the decline has overall slowed down for the study period 2005-2024,” says Dr Gaëlle Veyssière, sea ice and snow physicist at the British Antarctic Survey, who wasn’t involved in the study.
    “This pause should not be confused with a sign of recovery. It doesn’t indicate that Arctic sea ice is improving or that we are seeing reversing climate trends.”

    Will sea ice loss in the Arctic continue to slow?

    The researchers say the slowdown in sea ice melt has a one in two chance of lasting for another five years and a one in four chance of lasting for another 10. But, they clarify, it won’t last forever.
    Climate models indicate that when the current slowdown ends, the pace of Arctic sea loss could be 0.6 million square kilometres per decade faster than the average long-term decline.

    Related

    Marine heatwaves may have driven the world’s oceans to a critical tipping point, scientists warnConspiracies about extreme weather spread faster than life-saving alerts on social media, says study

    The study suggests that the current temporary pause is likely due to ‘internal climate variability’ – or the naturally occurring variations in climate due to interactions between parts of Earth’s systems.
    Rather than being an expected or rare event, it says we should expect periods like this to occur relatively frequently due to natural fluctuations in the climate system. Without human-caused warming, the study indicates that sea ice likely would have increased over this period.
    Dr England invokes an analogy from climate scientist and creator of the iconic warming stripes visualisation, Professor Ed Hawkins. He says the slowdown is like a “ball bouncing down a hill where the hill is climate change”.
    “The ball continues going down the hill, but as it meets obstacles in its path, the ball can temporarily fly upwards or sideways and not seem to be travelling down at all, ”England says.
    While the trajectory isn’t always smooth, he adds, at some point, the ball will still reach the bottom of the hill.

  • 5 Main Causes of Vision Loss – Health Cages

    5 Main Causes of Vision Loss – Health Cages

    The most common eye diseases and conditions

    Over 3.4 million people in the U.S. aged 40 and older are legally blind or have serious vision issues, and about 7% of kids under 18 have eye problems. Nearly 3% of these kids are blind or have impaired vision. Causes of Vision loss is a common disability in adults and children in the U.S.

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    The good news is that you can start taking care of your eyes at any age. Regular eye check-ups can catch problems early, and early diagnosis helps fix or slow down most eye issues. If your vision troubles last more than a few days or get worse, see an eye care professional.

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    Macular degeneration

    Macular degeneration, also known as AMD or age-related macular degeneration, is an eye problem that affects how well you can see things in the middle of what you’re looking at. It hurts the macula, which is the central part of your eye’s retina responsible for seeing fine details. This condition is the top reason for vision loss in people over 60 years old.

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    There are two types of macular degeneration: wet and dry. Wet AMD occurs when strange blood vessels grow under the macula and leak blood and fluid, damaging the macula and causing a loss of central vision. Dry AMD involves the macula getting thinner over time, making your central vision blurry. Dry AMD is more common, making up 70% to 90% of cases.

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    Signs of AMD usually show up later in the disease and include:

    • Blurry central vision.
    • Dark or black spots in the middle of what you see.
    • Straight lines look wavy or curved.
    • While there isn’t a cure, treatment can slow down the disease or stop severe vision loss. Recently, there have been improvements in treating wet AMD using injections of anti-VEGF medications directly into the eye.

    Cataracts

    A cataract happens when your eye’s lens gets cloudy, making it hard to see clearly. It can happen in one or both eyes and is the top reason why some people can’t see well. In the U.S., it’s the main cause of vision problems that can be fixed.

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    Cataracts can affect anyone, even from birth, but they’re more common in people over 50.

    Signs you might have a cataract include:

    • Vision becoming cloudy or blurry.
    • Seeing a glare around lights, especially at night,.
    • Trouble seeing well in the dark.
    • Being sensitive to bright lights.
    • lots of light for reading.
    • Noticing changes in how you see colors.
    • Frequently, you need to change your glasses.

    The good news is that removing the cloudy lens and replacing it with a clear one works well. More than 90% of people see better after getting a cataract removed.

    Glaucoma

    Glaucoma is an eye problem caused by too much pressure inside the eye. This pressure hurts the optic nerve, which sends visual messages to the brain. If glaucoma isn’t found and treated, it can make you lose vision or go blind in one or both eyes. Sometimes, it runs in families.

    There are two main types of glaucoma. Open-angle glaucoma happens slowly, and you might not notice changes in your vision until it’s quite bad. Closed-angle glaucoma can happen suddenly, and it hurts a lot, causing quick vision loss.

    Signs you might have glaucoma include:

    • Pain or pressure in your eyes.
    • Headaches.
    • Red eyes.
    • Seeing rainbow-colored circles around lights.
    • Having trouble with your vision, like it being blurry, tunnel vision, or having blind spots.
    • Feeling nauseous and throwing up.
    • Doctors try to lower eye pressure to treat glaucoma. This can include using special eye drops, Laser Eye Surgery
    Diabetic retinopathy

    Diabetic retinopathy is a problem that can make people with diabetes lose their vision or go blind. It affects the blood vessels in the back part of the eye, called the retina.

    Anyone with diabetes can get this issue, so it’s really important for them to regularly check their eyes to catch it early.

    Sometimes, there are no clear signs in the beginning. To treat it, people might need medicine, laser treatment, or surgery.

    The good news is that in 90% of cases, blindness because of diabetes can be stopped. But if it’s not treated, diabetic retinopathy can lead to complete and permanent blindness.

    Eye strain

    When someone looks at a screen for a long time, their vision lose and get blurry. But don’t worry; this is usually not a permanent problem. Taking a break from the screen and letting your eyes rest can help.

    You can prevent eye strain by following the 20-20-20 rule. This means every 20 minutes, look away from the screen at something about 20 feet away for about 20 seconds. Doing this simple practice can keep your eyes from getting tired and blurry.

    Medications, eye drops, or surgery may be used to treat vision loss associated with eye problems.

    In addition to keratitis, trauma, hyphema, uveitis, acute glaucoma, optic neuritis, papilledema, and retinal detachment, other conditions can cause sudden vision loss.

    • close or cover one eye.
    • squint the eyes or frown.
    • complain that things are blurry or hard to see.
  • Mercedes\’ Profits Plummet Over 50% Amid US Tariff Turmoil

    Mercedes‑Benz Issues a Revenue Wake‑up Call

    What the Numbers Really Say

    Heads‑up: The German automotive giant Mercedes‑Benz is forecasting this year’s earnings to be significantly below last year’s total. That’s not just a drop—it’s more like a cruise‑control reversal.

    Why the Surprise?

    • Supply‑chain hiccups: JIT inventory turned into JIT‑delays.
    • Demand shifts: Shoppers are now choosing electric hybrids over traditional V‑12s.
    • Economic headwinds: Global inflation and portioned‑budget drivers are tightening the purse strings.
    What Mercedes‑Benz Isn’t Saying

    They’re not rolling out an “emergency” vehicle sale or a token “logistic karaoke” event. Instead, they’re simply adjusting their sales projections—no incentive schemes announced, no surprise steam‑rocket deals.

    Bottom Line: A Bit of Downshifting

    Even the Big Four can feel a little nervous. Mercedes‑Benz’s “slightly below” rating signals that they expect to miss sales compared to this year’s top performers. In other words, the road’s a bit gravelly this year.

    Mercedes‑Benz Slips Through the Slippery Middle‑Year Window

    It’s looking less like the sleek German brand it breathes gasoline‑power air into and more like a jogger tripping over its own tyres. In a quick earnings update, Mercedes‑Benz revealed the clip‑board of woes: its net profit for the first half of 2025 has dropped by a jaw‑dropping 56 % to just €2.7 billion from €6.1 billion a year earlier.

    Quarter‑by‑Quarter Crunch

    • Q2 net profit. Fell a staggering 69 %.
    • Revenue. Slacking down by 10 %.
    • EBIT & EPS. Both plunged by 68 %.

    What’s driving this number crunch? One‑off “Next Level Performance” cost‑cutting hits and, oh boy, tariffs from the US. President Trump’s administration slapped higher tariffs on German exports, knocking a cool €360 million off Mercedes‑Benz’s bottom line. With the market trying to stay afloat amid trade turbulence, the company predicts 2025 sales will look a lot leaner than last year’s totals.

    China’s Cooling Wheels

    Normally the biggest fan, China’s hard‑pressed to keep up with cheaper domestic electric‑car brands. Sales dropped nearly 20 % year‑on‑year, putting another dent in the revenue pot.

    Bracing for the Future

    So what’s Mercedes‑Benz doing to weather the storm? They’re tightening the belt and leaning heavily on luxury models—those high‑margin rides expected to bite back, offsetting the smaller sales pie.

    • Keep costs tight.
    • Focus on the high‑end segment.
    • Expect fewer cars but bigger margins.

    The Group’s statement makes it crystal clear: “Mercedes‑Benz Group now sees Group revenue significantly below the prior‑year level based on lower sales expected at Mercedes‑Benz Cars and Mercedes‑Benz Vans.”

    Trump tariffs

    EU Auto Import Tariffs Drop: 27.5% 15%

    For most of the year, European-made cars landed in the U.S. with a hefty 27.5% tariff—think of it as the price tag on a fancy passport. But a fresh deal between European Commission President Ursula von der Leyen and U.S. President Donald Trump turns the punch‑line into a lighter 15% fee, kicking in this Friday.

    Why Does This Matter?

    • Employment boost: The auto sector clocks in a staggering 13.8 million jobs—one in every 16 EU positions.
    • Household income engine: Especially around the big‑factory towns, cars keep the gravy train rolling.
    • Industry strategy shift: Automakers like Mercedes‑Benz are tightening their focus on luxury sales and tech upgrades to ride the new political wave.

    Inside the Mercedes‑Benz Mindset

    CEO Ola Källenius blasted a bold roadmap: “We’re adapting to new geopolitical realities by using our global production footprint intelligently and by executing our Next Level Performance programme, which goes beyond efficiency measures, to increase the resilience of our company.”

    His message? The future’s not about just shifting gears—it’s about steering in a smarter, more sustainable direction while still keeping the luxury vibe alive.

    A new strategy for Mercedes

    Mid‑Year Snapshot: Steering the Wheels toward Innovation

    At the halfway mark, the automotive industry diary painted a clear picture: R&D is the new racetrack. European carmakers are burning through a staggering €73 billion per year on research and development—more than any other private sector in the continent. These hefty investments aren’t just about shiny new models; they’re rippling into batteries, robotics and AI, sparking breakthroughs that cross borders and sectors.

    What the Tycoon Says

    Wolfram Källenius, the big boss at Mercedes, summed it up in a nutshell: “Just keep cruising forward—deliver cool, smart gear, and keep those expenses in check.” It’s all about blending ambition with a tight budget control.

    Why Mercedes Still Rules the Roads

    • Brand loyalty that sticks – Consumers gravitate to Mercedes for its robust engines and sleek, high‑end designs.
    • Reliability champ – Those cars are built to last, which is a big plus for drivers who don’t want unexpected repairs.
    • Top‑five by revenue – Together with the German giants Volkswagen and BMW, Mercedes stands out among the world’s biggest carmakers.
    • Luxury leader – In the premium segment, it’s the second biggest player globally, just behind BMW.
    Taxing the Wheels—Literally

    Speeding past the engines, motor‑ownership taxes are a silent heavyweight, pumping roughly €428 billion a year straight into the EU treasuries. That figure is a huge chunk—nearly equals the entire annual EU budget—showing how crucial car taxes are for public services across member states.

  • Klarna's IPO pops, raising .4B, with Sequoia as the biggest winner

    Klarna's IPO pops, raising $1.4B, with Sequoia as the biggest winner

    It’s been a long road for the 20-year-old fintech Klarna to make it to an IPO. But on Wednesday, the company successfully landed on the New York Stock Exchange, having raised $1.4 billion, largely for its existing investors, rather than itself.

    The fintech giant sold shares at $40, above its announced range of $35 to $37, and came out of the gate with a $15 billion valuation. Shares popped, opening at $52, though quickly settling down to around $46 mid-day.

    Of the 34.3 million shares Klarna sold, only 5 million were sold by the company, it said. The rest were sold by existing investors like the company’s largest shareholder Sequoia Capital. Entities controlled by Danish billionaire Anders Holch Povlsen, Silver Lake, BlackRock, and many others sold as well. Despite cashing out some shares, all of them are holding onto the majority of their stakes.

    Figma’s IPO did a similar thing. Yet, often these existing investors don’t want to sell at the IPO price, a VC told TechCrunch. They kick in shares to help the company meet IPO demand. Floating more shares helps the company obtain a more accurate, and perhaps higher, valuation out of the gate because it helps the IPO attract the biggest institutional investors who wouldn’t bother with an IPO for a small allocation.

    In Klarna’s case co-founder CEO Sebastian Siemiatkowski did not sell any shares. His stake was worth $1.02 billion at the IPO selling price of $40 and he controls about 7.5% of the company.

    Victor Jacobsson, the co-founder who left the company in 2012, did sell but was, and still is, a slightly larger shareholder. He cashed out of 1.1 million shares and still retains over 8% of the company.

    Co-founder Niklas Adalberth still owns just under 3 million shares, Klarna disclosed.

    Sequoia is by far the biggest investor in Klarna, controlling nearly 23% of the company. Famed VC Michael Moritz wrote Klarna’s first check on Sequoia’s behalf in 2010, and stayed on as Klarna’s chairperson even after he left Sequoia in 2023. Some drama ensued when Sequoia added another member to Klarna’s board. But it eventually sorted itself out when Sequoia’s Andrew Reed joined its board in 2024.

    “This moment feels surreal,” Siemiatkowski shared in published remarks. “When we started Klarna back in 2005, it was just a wild idea — me, Niklas, and Victor, fumbling around, trying to make shopping and payments smoother for people. We got rejected left and right, laughed at more times than I can count. But we kept going.”

    He continued, “Going public in New York is huge. It’s not just a milestone; it’s a statement. It’s proof that a bunch of stubborn dreamers from Stockholm can take on the world — and win.”

    Interestingly, though, $1.4 billion is not the record for the biggest IPO of 2025. That’s still held by CoreWeave, which raised $1.5 billion in June.

    Correction: This story originally misidentified the nationality of Anders Holch Povlsen. That information has been updated.

  • Data breach at French telecom giant Bouygues affects millions of customers

    Bouygues Telecom, the third-largest phone carrier in France, has confirmed a cyberattack and data breach affecting millions of its customers.

    In a statement posted to its website, the telecommunications giant said the hack allowed the intruders to access the personal information on 6.4 million customer accounts. Bouygues said it detected the cyberattack on August 4, but did not give a time frame for when the breach was remediated.

    In a separate page dedicated to victims of the cyberattack, Bouygues said the stolen data includes customers’ contact information and contractual data, their civil status (or company data if the subscriber is a professional), as well as IBANs, or international bank account numbers.

    Bouygues said it has about 26.9 million mobile customers.

    The cyberattack has been reported to France’s data protection agency, CNIL.

    At the time of publication, Bouygues’ web page about the cyberattack contained a hidden “noindex” tag in its source code, which instructs search engines to ignore the page, making it difficult for anyone searching the web to find the page. 

    A spokesperson for Bouygues did not immediately respond to a request for comment asking for details about the cyberattack, or explain why the page was hidden from search engines.

    News of the breach comes soon after a cyberattack at French telecom giant Orange, the country’s largest phone carrier and one of the largest telecommunication companies in the world. On July 29, Orange told customers to expect disruption as it moved to “isolate potentially affected services.” Orange serves more than 290 million customers worldwide.

  • Gemini Goes Public: Winklevoss Twins’ Crypto Firm Files for IPO

    Gemini Space Station Inc. — The Next Crypto Rocket to Home Run the Nasdaq

    Picture this: two billionaire twins, the Winklevoss brothers (yes, they’re the guys who promised Elon Musk the “first real iPhone”), have taken their cryptocurrency ambitions to the stars—literally. They’re aiming to launch Gemini Space Station Inc. into the Nasdaq Global Select Market under the ticker GEMI. Launched back in 2014, Gemini today is a crypto exchange and custodian that’s been spinning out a freakin’ smorgasbord of services, from a stablecoin that plays by the U.S. dollar’s rules to a credit card that rewards your every swipe with crypto.

    Finances: A Tale of Losses That Would Have Your Wallet Crying

    • 2024 Snapshot: Losses $158.5 million on a modest $142.2 million in revenue.
    • First Half of 2025: Already hitting a staggering $282.5 million net loss on $67.9 million revenue.
    • Bottom line? The company’s costs are outpacing its profits at a rate that makes every accountant’s heart race.

    Gemini’s S‑1, filed after the bell on Friday, delivered the bare‑bones truth: the tech is burning cash faster than a bonfire on the Fourth of July, and the burn is only getting hotter.

    Why the Market is Munching on Crypto Now

    Regulators are breathing a bit easier, thanks in part to the Trump administration’s newfound enthusiasm for digital currencies. This climate has made the IPO process feel a bit more like a cake‑walk than a stomach‑roller.

    • Circle Internet Group: Just raised $1.2 billion via an IPO. Their USDC stablecoin pulled in a blockbuster launch: shares spiked 168% above the $31 IPO price on day one.
    • Circle’s quarterly loss this month? Not surprising, because a few hefty one‑time costs came in after the June public offering.
    • Bullish: The exchange that owns CoinDesk raised $1.1 billion. Shares more than doubled from the $37 IPO price to a sizzling high of $118.

    So, Gemini is the latest in this cosmic lineup. The story? It’s a long‑shot at lofty heights—or at least that’s the pitch. But if history shows anything, the potential for upside is as wild as a rocket launch.

    Tech and VC heavyweights join the Disrupt 2025 agenda

    Netflix, ElevenLabs, Wayve, Sequoia Capital, Elad Gil — just a few of the heavy hitters joining the Disrupt 2025 agenda. They’re here to deliver the insights that fuel startup growth and sharpen your edge. Don’t miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $600+ before prices rise.

    Tech and VC heavyweights join the Disrupt 2025 agenda

    Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They’re here to deliver the insights that fuel startup growth and sharpen your edge. Don’t miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise.

    San Francisco: The Must‑See Event of 2025

    Why You Can’t Miss It—From Oct 27‑29!

    Picture this: the iconic Golden Gate Bridge gung‑aggling in the backdrop while industry leaders, local innovators, and random entrepreneurs all shout ideas like a Broadway cast in mid‑solo. That’s the first‑ever “City‑Wide Brainstorm Bash” looping through San Francisco from October 27th to 29th, 2025.

    What’s on the Agenda?

    • Morning Power‑Up – 9 AM kickoff with a dynamic keynote from a visionary founder.
    • Hands‑On Huddle – Guided innovation workshops that let you mash two tech stacks together (think Wi‑Fi + salsa).
    • Evening Hang‑outs – Networking mixers in rooftop chill zones, complete with sparkling city lights and some unexpected jellyfish trivia.
    • Take‑Home Gifts – Super exclusive tech gadgets, a free guided tour, and a handful of hilarious “Escape the Obvious” jokes.

    Why Register Now?

    Because waiting is a lot like surfing without a board—highly wasted and a bit frightening. By registering today, you’ll get:

    1. Priority Seating – No more fighting over the last spot!
    2. VIP Swag – Quirky tote bags that scream “I know my tech history.”
    3. Early‑Bird Discounts – Tick‑tock, the clock’s ticking and your wallet will thank you.

    Be Part of the Super‑Cool SF Adventure!

    Grab your golden ticket, strap in for a whirlwind of ideas and maybe a couple of spontaneous salsa breaks, and let’s make 2025 unforgettable together.

    REGISTER NOW and secure your spot before the next wave hits!

  • 7 Most Expensive Sports Championship Rings Ever Made

    7 Most Expensive Sports Championship Rings Ever Made

    When it comes to celebrating victory in professional sports, nothing symbolizes a champion’s success quite like a championship ring. These dazzling pieces of jewelry are more than just ornate accessories—they are physical representations of glory, grit, and legacy. Over the years, sports championship rings have evolved from modest mementos into luxurious, jaw-dropping status symbols that often come with multi-million-dollar price tags.

    In this blog, we’re exploring the most expensive sports championship rings ever made. From the NFL and NBA to Major League Baseball and beyond, these rings showcase stunning craftsmanship and serve as lasting testaments to unforgettable seasons.

    A Brief History of Sports Championship Rings

    The tradition of awarding rings to champions dates back over a century. The practice became especially common in the early 20th century, with baseball leading the way. Today, nearly every major professional sports league—including the NFL, NBA, MLB, and NHL—commissions lavish rings to commemorate championship victories.

  • Invisible Payments Power the Global Ransomware Surge

    Invisible Payments Power the Global Ransomware Surge

    Ransomware Hype: How AI is Turning Hackers into GPS‑Guided Predators

    Every news feed feels like a newscast on a caffeine high, with the same old story—cyber attackers, usually some nasty ransomware, dropping bad news. The twist this week? The criminals are now hiring AI to sniff out victims faster than a detective on a hot trail.

    What’s the Deal?

    Traditional ransomware is like a slow‑pano thief: it sits on a server, waits for the right moment, then rolls in. Now, AI’s acting as a GPS and a profiler all in one. It scans the internet for vulnerable systems, learns patterns, and then recommends the most profitable targets.

    Why Hackers Love AI

    • Speed – Instead of hunting manually, bots zoom across networks, hunting for soft spots.
    • Smart – Machine learning identifies the “gold‑mine” systems, skipping the low‑pay rough edges.
    • Stealth – AI can adapt tactics on the fly, slipping past defenses that would have caught a human culprit.
    A Touch of Humor (and Real Danger)

    Think of it like a sniffer detective strolling through cyberspace, only the case is that the “victim” she’s after is your bank account. Remember: even though AI feels like a neat tech hack, the real culprit is still that old fashioned “ask for a ransom” lag—unless you want your data to go to someone’s private cellar.

    Bottom Line: Stay Smarter, Stay Safe

    While those learning AI might have a broken‑promise dog‑bone mentality, you can keep your guard up by:

    • Keeping software patched.
    • Using strong, unique passwords.
    • Being wary of unsolicited email attachments.
    • Investing in robust backup solutions.

    In short, the plot is simple: AI is the headlines’ latest “sneeze‑flipping” upgrade, but a solid cyber hygiene routine will keep you out of the attackers’ next schedule.

    When Bad Guys Start Ransom Wars

    Picture this: a sneaky piece of software slams the door on your digital life, blocks every file and foxes your network behind a throne of demands. That’s ransomware for you—sorry, not sorry.

    2024: The Year of the Cyber Spotlights

    Recent stats from the FBI show a whole galaxy of these attacks. In July alone, places like Susan B. Allen Memorial Hospital in Kansas, the IT wizardry shop Ingram Micro in California, and Cookeville Regional Medical Center in Tennessee were all on the hit list.

    The Office of the Director of National Intelligence blasted the yearly count by a whopping 15%—5,289 attacks worldwide. Yet, that number feels like a tiny sputter, because, according to cyber‑shadow‑expert Andy Jenkinson, most of these hits never make it to the headlines.

    “Ransomware is chunky and it’s buying up a massive chunk of the cyber market. There are two flavours – the loud one that gets in the spotlight and the stealthy one that stays in the shadows,” he said.

    How Much It Costs a Bad Day

    • 2019 average hit: about $761,106 in damage.
    • 2019 to 2024 spike: up to $5.14 million on average per attack.
    • That’s like buying a small island for a few glitches over the last five years.

    So next time your computer freezes, remember: it’s either a glitch or a very rude hacker, and the price tag is no joke. Stay sharp, keep your backups ready, and if you’re lucky, the ransom will just be a story for your rainy day table, not a big headline.

    Ransoms Paid in Crypto

    Ransom‑Riot: Why Cybercriminals Prefer Crypto and How It Costs Us Billions

    Bitcoin: The Goldilocks of Digital Extortion

    Jenkinson, the mastermind behind Comparitech‘s ransomware database, has a clear favourite: Bitcoin and its quirky cousins. “They’re hard to trace,” he says, and that’s why every shady deal ends up in the same cold, anonymous wallet.

    Global Cash Cow: Cybercrime’s Daily Bill

    Imagine a world where every single day, strangers in your wallet, the internet, and your data farm sale cost $32 billion. That’s the reality of stolen data and cyber‑scams, as pointed out by Jenkinson. No, it’s not a rumor – it’s a hard‑earned statistic.

    Half the Companies, Half the Trouble

    • Last month, Sophos ran a poll through 17 countries and found that nearly 50 percent of enterprises handed over their ransom.
    • The median amount? A staggering $1 million – that’s about the price of a mid‑size house in many states.
    • Yet there’s a twist: Companies often keep paying hush‑tight, and they rarely shout it from the rooftops.

    Legal Low‑down: Why The Silence Is So Loud

    Adnan Malik, the data‑protection law guru at Barings Law in Manchester, explains the silence: “The businesses that paid aren’t fans of bragging about it. It’s a shame, but they’re just averse to gossip.”

    Bottom line: Electricity, crypto, and don’t beat your head over paying up!

    What the DOJ and the Rest of the World are Saying About Ransomware

    Picture this: a big‑screen display pops up at a DOJ press conference in Washington on 26 Jan 2023, and the image is none other than a seized ransomware website. The whole point? Show that governments are cracking down on cybercrime, and that money‑flooding the attackers hurts everyone.

    “Don’t Let the Ransom Be The Roof Of The Gutter”

    • Kevin Dietsch (Getty Images) got the nitty‑gritty that “they’ll try and brush it under the carpet – they’ll try and disguise it as some other expense.”
    • Malik wasn’t pulling punches either. He told us attackers start with “an insane amount,” then haggled in the millions down to a couple hundred thousand. It’s a normal part of the dance.
    • Once you’re pulled into that fight, the “disguised expense” talk gets real.

    Babbage Says Ransoms = Fuel

    James Babbage, the UK’s National Crime Agency Chief for Threats, was on the BBC’s Panorama programme and hit the sweet spot: “It’s the paying of ransoms that fuels this crime.” He’ll say he’d prefer companies don’t hand out cash, but he won’t threaten a victim to keep their breath: “Every victim has to decide for themselves.” That’s the policy stance—no blanket bans, just a strong nudge.

    Why KNP Logistics “Died” for Your File

    • Paul Abbott, a former trucking‑company boss in England, closed KNP Logistics in September ’23, costing 730 jobs. What pulled the trigger? A ransomware attack.
    • The chain of events: a night‑shift tech spotted something weird, gave IT a call, and the team paused the system. The shutdown reboot uncovered a text file that was a ransom note from the Akira group, all flush inside a server.
    • “We knew it was the root cause right then,” Paul said, “and it was the best‑known group in the scene. Easy money. People who really know how to do it.”

    Bottom Line

    Once a company’s servers bite, the world goes silent because the ransom can cull entire fleets, job markets, and hopeful futures. The DOJ and UK’s NCA are cutting a path toward that solution: push funds down, crowd out the villains, and try to keep the whole ecosystem safe.

    Enforcement Efforts

    UK’s Bold Move to Stop Paying Ransom: Dangerous Road?

    Finance teams, IT guardians and even NHS staff— the British government has decided that from now on, any ransom demands from cyber‑criminals should be met with a firm “no.” The policy will apply to ministries, state agencies, schools, hospitals and critical infrastructure operators.

    Why the move is causing a stir

    Jenkinson’s take: “Imagine a doctor giving a heart transplant to a junk‑food addict, but never advising them to ditch their fries. That’s what banning ransom payments is after we’ve left the bad software behind.”

    He warns, “If you only patch the surface and ignore the weak points, you’re just putting Band‑Aid on a thousand cuts—no killer knife is removed.”

    Opposition highlights key risks

    • Ransom gangs may migrate to more covert channels, making attacks even harder to spot.
    • Businesses might end up buying endless security services to guard against threats they won’t address directly.
    • The policy could discourage timely report‑in of breaches, as companies worry about breaking the rule.

    Europol’s counter‑attack in Kyiv

    The European Union’s police agency said that a July 22 operation in Kyiv saw the arrest of the alleged chief of the XSS.is forum—one of the biggest Russian‑speaking cyber‑crime hubs. This move is an illustration of how authorities are stepping up their sting operations.

    The bottom line

    While the UK is taking a dramatic stance, many experts caution that it’s not a cure for the underlying disease. The real fix lies in hardening systems, improving cyber hygiene, and educating staff—so the cyber‑crime “knife” is actually dismantled, not just covered with improvised wound dressing.

    Arrest in Kyiv Aims at the Boss of a Russian‑Language Cybercrime Hub

    The suspect who allegedly runs XSS.is, a Russian‑speaking forum that trades in illicit cyber tools, was taken into custody on July 22, 2025 in Kyiv, Ukraine. The site, whose name is a playful nod to the classic cross‑site scripting technique, became a notorious meeting point for bad actors looking to swap stolen data and ransomware services.

    What the Platform Does

    • Users upload malicious scripts that slip into legitimate websites, stealing personal data or hijacking user sessions.
    • EUROPOL calls it the “fifth‑generation bread and butter” of cybercriminals.
    • The forum boasts over 50,000 registered members and serves as a marketplace for stolen data, hacking tools, and shady services.

    Why the Arrest Matters

    While the case is still unfolding, law‑enforcement agencies see the move as a blow to a global network that thrives on cyber‑crime trade. Removing a key figure from the cyber‑black market is expected to put pressure on other players that use the same infrastructure.

    Related Story: LockBit Ransomware’s Hot‑Target

    Earlier this year, the U.S. State Department offered a huge $10 million bounty for information that would capture Dmitry Khoroshev, the chief behind the LockBit ransomware operation. Khoroshev, notorious for a widespread “ransomware‑as‑a‑service” business model, claimed responsibility for hacks affecting more than 2,500 global victims—about 1,800 of them in the United States—shedding an estimated $150 million in cryptocurrency.

    Britain’s National Crime Agency identified him as “LockBitSupp,” a behind‑the‑scenes dealer who supplied dark‑web affiliates with the tools and infrastructure to launch attacks. This same partnership structure mirrors what was seen on XSS.is, meaning that dismantling one hub threatens to disrupt the wider criminal ecosystem.

    Top‑level cyber chiefs are doing more than just stepping up the legal guard—they’re getting their heads around how interconnected these criminal networks really are.

    Dmitry Khoroshev: The Man Behind the LockBit Heist A Cybercrime Saga

    Picture this: a Russian computer wizard named Dmitry Khoroshev, rumored to be the mastermind steering the notorious LockBit ransomware crew. For those who’d rather call it a “data thief” than a cyber outlaw, this guy’s got the whole world’s digital assets trembling.

    Some Numbers That’ll Make Your Head Spin

    • LockBit has tipped off over 2,500 victims across the globe.
    • In the United States alone, the gang is responsible for about 1,800 attacks.
    • They’ve raked in at least $150 million in cryptocurrency ransom—think of it as a choir of angry bitcoins.

    Who’s Calling the Shots?

    The U.S. State Department names Dmitry as the big boss, while the UK National Crime Agency is equally on his tail. The fact that a single individual (or a small group pretending to be one) can orchestrate such a colossal sting is both impressive and alarming.

    Why This Matters (and Why It’s Genuinely Crazy)

    If you’re thinking, “What’s the point?”—every ransomware failure can bring out a cascade: hospitals stuck in a fog of unending alarms, universities with research data locked like a vault, and the occasional power plant threatened to slam the grid shut. The ripple effect? Muddy financial storms that may take years to clear.

    What You Can Do (Because Surely You’re Not Just Here To Read About It)

    Let’s be honest, no one loves unexpected lockouts. Here are a few practical tips to keep your digital life safe:

    1. Back up everything. Store copies both in the cloud (with encryption) and on a local hard drive.
    2. Update software daily; cybercriminals love to exploit old bugs.
    3. Stay vigilant for phishing emails—stop the urge to click on links that seem too good to be true.
    4. Report any suspicious activity to your local authorities. The UK National Crime Agency doesn’t want you to end up a victim.

    In Short—It’s 2025, Let’s Keep the Games Off the Dark Web

    We’ve got Dmitry G in our sights, Lockbit’s head honcho, and a million dollars in cryptocurrency as the grand prize. All we need is a level-headed approach (and maybe a little humor) to stay ahead of the cyber crooks who thrive on chaos.

    Poor Data Infrastructure

    Hackers, Heroic Systems & the Myth of the Russian Mafia

    Jenkinson warns that the story people tell about cyber‑villains—“they’re getting slicker, all stuck in Russia or the former USSR”—is pretty much fiction. He claims that the actual reality is that attackers are quite clever, but the safety nets businesses have are laughably weak.

    The System Gap

    Malik, the other tough‑knuckle tech analyst, chimes in. “Sure, the hackers are nuts,” he says, his eyebrows flaring, “but the safeguards we put in place are so soft you could wipe out a database with a party popper.” He points out that most organisations have crap data infrastructure that basically invites the bad guys in like a door with a sign that says, ‘Come In, Free Wi‑Fi’.

    Scattered Spider: The “Teenage Bandits” Of Cyber‑Theft

    • The group has a few high schoolers between it. They’re called Scattered Spider and they’ve been blamed for a swathe of recent attacks across the U.S. and U.K.
    • Back in May, a 23‑year‑old British teen, Tyler Buchanan, who’s said to be one of the brain‑children of the gang, was extradited from Spain straight to the U.S. to answer to charges that range from conspiracy to computer intrusion, wire fraud, and aggravated identity theft in California.
    What Happens Next?

    Find out more about the tangled webs of the cyber‑crime underworld below—no fancy links, just the juicy details. Enjoy the ride!