Financial Times:
Sources: US Treasury Secretary Scott Bessent expects stablecoins to drive demand for Treasuries, as talks with Tether and Circle help inform issuance decisions  —  Treasury secretary's discussions with crypto groups have helped inform issuance decisions  —  Treasury secretary Scott Bessent …

Bloomberg:
Butterfly Effect, the startup behind Manus and an earlier product called Monica, says its annual revenue run rate has hit $90M, with Manus contributing the most  —  The Chinese-founded company behind AI pioneer Manus said it's hit an annual revenue run rate of $90 million, offering a first glimpse at the value of its business.

Andrea Figueras / Wall Street Journal:
PE firm Advent International agrees to acquire U-blox, a SIX Swiss Exchange-listed wireless and positioning chipmaker, for about $1.3B via public tender offer  —  U-blox is a provider of wireless and positioning semiconductors  —  Advent International agreed to buy Swiss tech company U-blox …

Olivia Poh / Bloomberg:
Canva launches a staff stock sale to new and existing investors at a $42B valuation, up 30%+ from $32B in 2024, reports $3.3B+ annualized sales and 240M+ MAUs  —  Get the Tech In Depth newsletter.  —  Analysis and scoops about the business of technology from Bloomberg's journalists around the world.

Reuters:
Sources: US Commerce Secretary Howard Lutnick is looking into government equity stakes in Micron, TSMC, Samsung, and others that receive CHIPS Act funding  —  U.S. Commerce Secretary Howard Lutnick is looking into the federal government taking equity stakes in computer chip manufacturers …