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Trump Administration Factions Clash Over AI Policy Direction Internal divisions within the Trump administration over AI regulation have surfaced, with some officials pushing for mandatory safety testing of large AI models while others favor deregulation to maintain U.S. competitiveness. The split reflects a broader policy debate: how to balance AI innovation with risk prevention. The U.S. Commerce Department has already conducted safety testing on AI models from Google, Microsoft, and xAI, but the mandatory nature of these tests and the subsequent regulatory framework remain contested. ...

Valve Raises Steam Deck Prices by Over 40% Gaming company Valve has announced a price increase of over 40% for its Steam Deck handheld gaming console, citing sustained rises in global supply chain costs. BBC Technology reported this is the largest price adjustment since the device’s launch. Valve stated in a release that combined increases in semiconductor components, logistics, and manufacturing costs forced the repricing. The adjustment covers all Steam Deck models, including both LCD and OLED versions. ...

Bitcoin fell below $73,000 as Middle East tensions sparked a crypto sell-off. BlackRock’s iShares Bitcoin ETF (IBIT) saw $528 million in net outflows — its second-largest daily outflow on record. Approximately $1 billion in leveraged positions were liquidated. Ethereum also dropped below $2,000, though futures open interest hit a record 16 million ETH, signaling growing divergence between spot selling and futures positioning.

The US Commodity Futures Trading Commission (CFTC) has admitted it should not have sued crypto exchange Gemini, joining the company in a motion to vacate a 2025 consent order. The rare reversal signals regulatory self-reflection on enforcement overreach.

A former CIA official has been charged with stealing millions of dollars worth of gold bars from government facilities, according to NPR. The theft allegedly continued over a significant period before being detected. The case is now proceeding through the judicial system.

The US-Iran conflict escalated on May 28 as Iran claimed it struck a US military base in retaliation for fresh American airstrikes on Iranian military sites. The US confirmed strikes on Iranian military targets despite an ongoing fragile ceasefire and peace negotiations. Iran subsequently claimed to have targeted a US base, though US officials have not confirmed this. International oil prices surged sharply following the attacks, with markets concerned about potential disruption to oil shipments through the Strait of Hormuz — a critical chokepoint for roughly one-fifth of global oil supply. ...

The Israeli military launched fresh airstrikes on southern Lebanon on May 28, declaring areas south of the Zahrani River as combat zones following evacuation orders. The operation intensifies Israel’s ongoing campaign in Lebanon. Despite repeated international calls for ceasefire, fighting in southern Lebanon has never truly stopped since Israeli forces re-entered the region in early March. The strikes coincided with escalating US-Iran tensions, with multiple fronts across the Middle East deteriorating simultaneously. ...

A severe fire at a school in Kenya has killed at least sixteen students on May 28, local police confirmed. Search-and-rescue operations are ongoing, and the casualty toll is expected to rise. The fire broke out in the school’s dormitory area and spread rapidly. The tragedy has reignited concerns about fire safety in East African schools, many of which operate with aging infrastructure and lack basic fire suppression equipment. ...

Crypto exchange Kraken has expanded its Earn product suite with Bitcoin Vault. The product routes user BTC deposits into DeFi lending protocols including Aave and Morpho to generate BTC-denominated rewards.

Hamas has officially confirmed that its military chief Mohammed Odeh was killed in an Israeli strike on Gaza City. A defiant funeral was held in Gaza City, with Hamas vowing to continue its resistance.