Crypto faces its biggest stress test yet, and AI pushes new boundaries, from human-like browsing to reshaping the global job market.
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It’s a turbulent week for markets and machines alike. Crypto is reeling from one of its sharpest sell-offs of the year, while AI continues to reshape both work and technology at a pace.
The fallout from US President Trump’s tariff shock sent crypto markets into chaos, wiping out over US$20 billion in positions and testing the limits of exchanges worldwide. Centralised exchanges faltered briefly with calls for investigations, while DeFi protocols proved their resilience.
Meanwhile in the AI world, global firms are ramping up automation at the expense of entry-level roles, and Google unveiled Gemini 2.5 — an AI model capable of navigating the web like a human. As politics, technology, and markets collide, the lines between digital autonomy and accountability are blurring faster than ever.
Get up to speed with the latest in Web3 and AI with this week’s Pasar Pulse.
Crypto and Web3
Crypto Sell-Off Continues as Markets Await CME Futures Open
The crypto market remains under pressure following Friday’s historic sell-off, triggered by US President Trump’s announcement of a 100% tariff on Chinese imports. The move led to over US$20 billion in liquidations across centralised exchanges. Bitcoin is struggling to hold above US$110,000, with major altcoins such as Ether and Solana also sliding.
Binance Offers Compensation After Depeg and Market Volatility
Binance announced a case-by-case compensation for users who suffered losses during Friday night’s market volatility and platform performance issues. The exchange will compensate Futures, Margin, and Loan users affected by the depegging of USDE, BNSOL, and WBETH, with over 1.6 million traders liquidated within 24 hours.
Crypto.com CEO Calls for Probe After US$20B Liquidations
Crypto.com CEO Kris Marszalek urged regulators to investigate whether exchanges slowed down or mispriced assets during the crash linked to Trump’s tariff announcement. The liquidation event, totalling roughly US$20 billion, saw the largest losses on Hyperliquid, Bybit, and Binance.
DeFi Protocols Proved Resilient as Centralised Exchanges Falter
While centralised exchanges such as Binance faced system overloads, frozen dashboards, and failed trades during the tariff-driven chaos, DeFi protocols passed their largest stress test yet. Aave liquidated around US$180 million without disruption, and Uniswap handled US$9 billion in volume smoothly.
Ethena’s USDe Briefly Loses Dollar Peg Amid Market Turmoil
Ethena’s stablecoin USDe briefly dropped to US$0.65 on Binance during the crypto liquidation event sparked by Trump’s tariff news. The token quickly regained its peg, and Ethena Labs confirmed that minting and redemption remained fully operational.
Indian Authorities Investigate Over 400 Traders for Tax Evasion
Indian tax authorities are investigating more than 400 high-net-worth individuals suspected of evading the country’s steep crypto taxes. The probe focuses on trading activity on Binance between 2022 and 2025, and Binance has shared user data with the government.
Hyperliquid Traders Face US$1.23B in Losses
The market-wide sell-off triggered by US–China tariff tensions wiped out more than US$19 billion. On Hyperliquid, over 1,000 wallets were completely liquidated, amounting to US$1.23 billion in lost capital. Across the platform, 6,300 wallets are now in the red. In contrast, the top 100 traders collectively gained US$1.69 billion.
Nobel Peace Prize Winner MarÃa Corina Machado Endorses Bitcoin
Venezuelan opposition leader MarÃa Corina Machado has been awarded the 2025 Nobel Peace Prize for her advocacy of democratic freedoms. Machado, a long-time supporter of Bitcoin, has described the cryptocurrency as a means of resistance for citizens facing hyperinflation and corruption.
Artificial Intelligence (AI)
1Password Launches Tool to Secure Logins for AI Browser Agents
1Password has introduced Secure Agentic Autofill to mitigate the risk of AI browser agents retaining login credentials, which is a potential security vulnerability. The tool injects credentials directly into the browser only after human verification, such as via Touch ID, ensuring that neither the AI agent nor the underlying language model can access the actual passwords.
Global Firms Prioritise AI, Threatening Entry-Level Jobs for Gen Z
A study by the British Standards Institution (BSI) found that global firms are prioritising AI investment over recruitment, posing a threat to entry-level opportunities for younger workers. Forty-one per cent of business leaders surveyed across seven countries reported using AI to reduce headcount, while a quarter said AI could perform most tasks currently handled by junior employees.
Hollywood Executives Divided on How to Handle Rapid AI Progress
Hollywood executives remain uncertain about how to respond to the accelerating development of AI tools such as OpenAI’s Sora. While some raised concerns about copyright protection, industry leaders have largely avoided addressing the core issue of AI firms training on creative content without permission.
Microsoft Revamps OneDrive with AI Photo Agent
Microsoft is overhauling OneDrive for Windows, transforming it into a standalone application launching next year. The redesigned app will include a gallery and a new Photos Agent that allows users to search for specific photos or generate albums through prompts.
OpenAI Accused of Intimidating AI Regulation Advocate
AI regulation campaigner Nathan Calvin alleged that OpenAI attempted to intimidate him by issuing a subpoena demanding his private communications with legislators and former employees. The subpoena was served by a local sheriff’s deputy.
Former PM Rishi Sunak Joins Microsoft and Anthropic
Former UK Prime Minister Rishi Sunak accepted senior advisory positions at Microsoft and AI company Anthropic to focus on offering strategic perspectives on global technology and geopolitical trends, rather than influencing UK policy.
Global Economy Faces Tariff Shocks and Risk of AI Valuation Crash
IMF Managing Director Kristalina Georgieva warned that uncertainty is the new normal, citing President Trump’s proposed 100% tariffs on Chinese imports. Although the AI boom has buoyed the global economy. Economists caution that AI company valuations appear overstretched, raising fears of a sharp correction.
Google’s Gemini 2.5 Can Now Use a Browser to Act Like a Human
Google has introduced the Gemini 2.5 ‘Computer Use’ model, which enables AI agents to browse the web just as people do to perform tasks via a browser interface. The model handles interactions with web content where no API is available, such as submitting forms or navigating pages.
That’s all for this week’s Pasar Pulse. Want more insights? Stay tuned to our site or subscribe via email!
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