The launch itself, which took place on April 19 from Cape Canaveral Space Force Station, didn’t look like a disaster – at least not at first.
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JPMorgan filed for its second tokenized money market fund on Ethereum, accelerating Wall Street’s race to build regulated financial products on blockchain infrastructure now that the Genius Act has removed the regulatory ambiguity that kept institutions on the sidelines.
TL;DR
JPMorgan Chase filed paperwork on Tuesday for its second tokenized money market fund, four months after becoming the largest global systemically important bank to put a fund on the Ethereum blockchain. The JPMorgan OnChain Liquidity-Token Money Market Fund, ticker JLTXX, will issue digital tokens on Ethereum representing shares in a portfolio of US Treasuries and overnight repurchase agreements. The tokens can be held in digital wallets, transferred between investors, or posted as collateral in crypto markets, with transactions settling in minutes rather than the one to two days that conventional fund shares require.
The filing is unremarkable by the standards of traditional asset management. It is a money market fund. It buys Treasuries. It pays a yield. What makes it significant is where it lives. The fund exists on a public blockchain, governed by smart contracts, accessible to investors who hold digital wallets, and designed to comply with the Genius Act, the federal stablecoin framework that President Trump signed into law in July 2025. The largest bank in the United States is building regulated financial products on the same infrastructure that the crypto industry spent a decade telling Wall Street would replace it.
JPMorgan’s asset management arm launched My OnChain Net Yield Fund, known as MONY, on the Ethereum blockchain in December 2025. The fund invests in US Treasuries and repurchase agreements fully collateralised by Treasuries, with a one million dollar minimum investment for qualified investors. JPMorgan seeded it with 100 million dollars. MONY is powered by Kinexys Digital Assets, the bank’s proprietary tokenization platform that has processed more than 300 billion dollars in intraday repurchase transactions since its inception.
The second fund, JLTXX, extends the strategy. Where MONY was a private placement under SEC Rule 506(c), restricted to qualified investors, JLTXX appears to be structured for broader distribution through a 485BPOS filing, the amendment form used for existing registered investment companies. The underlying assets are the same: Treasuries and overnight repos collateralised by Treasuries. The innovation is not in what the fund holds. It is in how the fund’s shares move.
A conventional money market fund share settles through a transfer agent, a custodian, and a clearing house, a process that takes a business day or two and involves multiple intermediaries. A tokenized share settles on-chain in minutes. The investor holds the token directly in a wallet. The token can be transferred peer-to-peer. It can be posted as collateral in decentralised finance protocols or used in crypto-native trading venues without converting to cash first. The underlying Treasuries remain with a traditional custodian. The ownership layer moves to the blockchain. The plumbing changes. The asset does not.
JPMorgan is not alone. BlackRock filed paperwork last week for two tokenized money market funds targeting investors holding cash in stablecoins. The first, the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, would invest in cash, short-dated Treasuries, and overnight repos. The second would tokenize a share class of an existing 6.1 billion dollar money market fund on Ethereum. BlackRock’s BUIDL fund, its first tokenized product, launched in March 2024 and now manages more than 2.5 billion dollars across eight chains including Ethereum, Solana, and Aptos.
The market value of tokenized assets has surged more than 400 per cent since the start of 2025 to roughly 32 billion dollars, according to rwa.xyz. The figure is small relative to the trillions held in mutual funds and ETFs. But the growth rate is not small, and the participants are not startups. JPMorgan, BlackRock, Franklin Templeton, and Goldman Sachs are all launching or testing tokenized fund products. The institutions that spent years dismissing blockchain as a solution in search of a problem are now racing to build products on it.
Haun Ventures raised one billion dollars in May for two funds targeting stablecoin infrastructure and AI agent plumbing, a bet that the financial rails crypto built will become the financial rails AI agents use. Katie Haun’s thesis is that AI agents will need regulated financial infrastructure to transact autonomously, and that the firms which built stablecoin plumbing are best positioned to build it. JPMorgan’s tokenized funds are the institutional version of the same thesis: traditional assets, distributed on crypto infrastructure, designed for a world in which capital moves at the speed of software.
The Genius Act, signed in July 2025, created the first federal regulatory framework for dollar-linked stablecoins. It requires stablecoin issuers to be licensed, hold one-to-one reserves in dollars or low-risk assets such as Treasury bills, and comply with anti-money-laundering and sanctions requirements. The law also preserves the ability of banks to issue tokenized deposits that pay interest, and explicitly states that permitted stablecoins are not securities.
The regulatory clarity is the reason the race accelerated. Before the Genius Act, tokenized fund products occupied a grey area. Issuers faced uncertain enforcement from the SEC, unclear classification of digital tokens, and the risk that a future administration would reverse any guidance. The law removed the ambiguity. Stablecoin reserves must be held in Treasuries, repos, or cash. Tokenized fund shares that invest in the same instruments sit naturally alongside the stablecoin framework. JPMorgan and BlackRock are not building on the blockchain because they believe in decentralisation. They are building on it because Congress told them the rules.
Regulation has historically been the catalyst that unlocks institutional adoption in technology markets. Europe’s regulatory frameworks have driven investment into sectors from cleantech to cybersecurity by reducing the uncertainty that keeps large institutions on the sidelines. The Genius Act is doing the same for tokenized finance in the United States. The law did not invent tokenization. It made tokenization investable.
Jamie Dimon told shareholders in his April 2026 annual letter that JPMorgan must move faster on blockchain because “a whole new set of competitors is emerging based on blockchain, which includes stablecoins, smart contracts and other forms of tokenization.” He added: “We need to roll out our own blockchain technology and continually focus on what our customers want.” The man who once called Bitcoin a fraud is now warning his shareholders that blockchain competitors pose a strategic threat to the bank.
Dimon’s concern is not philosophical. Stablecoin transaction volumes surpassed the combined on-chain settlement volumes of Visa and Mastercard in 2025. Stripe acquired the stablecoin infrastructure company Bridge for 1.1 billion dollars. Mastercard acquired BVNK for 1.8 billion dollars. The payments infrastructure that the crypto industry built during the speculative phases of the market is now being absorbed by the financial institutions that initially rejected it.
Fintechs building stablecoin payments products are already reaching billion-dollar valuations, serving verticals from e-commerce to healthcare suppliers with treasury tools that operate natively on blockchain rails. JPMorgan’s tokenized funds are the bank’s answer: offering the same speed and programmability, but with the balance sheet, regulatory licence, and brand of the largest bank in America behind them.
Tokenized assets at 32 billion dollars represent a rounding error in a global fund industry measured in the tens of trillions. The gap between the current market and the projections is enormous. Boston Consulting Group and Ripple project the tokenized asset market could reach 18.9 trillion dollars by 2033. That projection requires tokenization to move from a novelty to a default, from a handful of money market funds to bonds, equities, private credit, real estate, and every other asset class that currently settles through legacy infrastructure.
The obstacle is not technology. Ethereum works. Smart contracts work. Digital wallets work. Startups are already building AI-native financial infrastructure from payroll to treasury management on these rails, and the tools are maturing faster than the institutions adopting them. The obstacle is distribution. Institutional investors hold assets through custodians, prime brokers, and fund administrators whose systems are not designed for blockchain settlement. Every intermediary in the chain must upgrade or be replaced. JPMorgan’s strategy is to be the intermediary that upgrades rather than the one that gets replaced. Kinexys is the bank’s attempt to build blockchain infrastructure inside the existing financial system, rather than outside it.
Central banks are assembling their own teams to identify where new technologies can accelerate financial operations, and tokenization sits alongside AI as a capability that could transform how monetary institutions function. The European Central Bank’s exploration of generative AI in financial infrastructure is part of the same institutional pattern: legacy institutions moving toward technologies they once dismissed, at a pace that reflects necessity rather than enthusiasm.
JPMorgan’s second tokenized fund is not a product launch. It is a position statement. The bank that built the modern plumbing of global finance is rebuilding that plumbing on the blockchain, one money market fund at a time, because it has concluded that the infrastructure the crypto industry built is better than the infrastructure it is replacing. The tokens settle faster. The records are more transparent. The custody is more programmable. The only thing the blockchain lacked was institutional credibility. JPMorgan just filed the paperwork to provide it.
Apple’s next big iOS update could make one of the iPhone‘s most important apps feel a lot more personal.
The company is planning to overhaul the iPhone’s Camera app in iOS 27 with a fully customizable interface, according to a Tuesday report from Bloomberg’s Mark Gurman. You would reportedly be able to decide which camera tools appear on-screen and where they sit, including controls for flash, exposure, the timer and resolution.
That could be especially useful for people who use the iPhone as more than a casual point-and-shoot camera. Instead of digging through settings or working around Apple’s default layout, you may be able to build a camera interface around the tools you actually use (get that Shared Library button out of there!).
The report follows earlier rumors that Apple was preparing to expand Visual Intelligence in iOS 27 with a Siri mode inside the Camera app. These changes are part of a broader iOS 27 redesign that could touch Siri, Search, Safari, Weather, Image Playground and more.
Apple is expected to unveil iOS 27 at WWDC26, which will run online from June 8 to 12, with an in-person special event at Apple Park on June 8.
Here’s what may be changing.
Bloomberg reports that the Camera app will still open with familiar default controls, such as resolution, night mode, flash and Live Photos, but you will be able to switch to a more advanced set of options or pick your own controls. Each capture mode would have its own set of controls at the top of the screen, which Bloomberg says Apple calls “widgets.”
In Photo mode, the advanced mode is said to include widgets for depth of field and exposure, with the available controls organized into categories such as basic, manual and settings. These widgets are essentially small Camera controls that you can place at the top of the interface, unlike the larger widgets that live on the iPhone’s home and lock screens.
Apple is also reportedly moving the button that reveals all available controls from the top-right corner of the Camera interface to a new spot near the shutter button.
The Camera app may also get a new Siri mode. That mode would reportedly tap into Apple’s Visual Intelligence features, making it easier to identify objects, translate text or get information about something in the camera’s viewfinder.
Siri may be in for the kind of overhaul Apple has been promising for years.
Bloomberg reports that Apple is rebuilding Siri in iOS 27 so it can act more like an always-on AI agent, with the ability to use personal data and take action across apps. The new version would also reportedly support more back-and-forth text conversations, bringing Siri closer to the AI chat apps people already use.
The redesigned Siri may live partly in the Dynamic Island, the pill-shaped interface area Apple introduced with the iPhone 14 Pro in 2022. When activated, Siri would reportedly appear as a large animation at the top of the screen. Users may also be able to swipe down from the top center of the iPhone to open a new “Search or Ask” bar, which could handle Siri queries, system search and third-party AI options like ChatGPT and Google Gemini.
Bloomberg also says Siri could get a standalone app for the first time, with past conversations displayed in a grid and an “Ask Siri” input bar for new queries.
Beyond Camera and Siri, Apple is reportedly planning design changes across several apps.
Safari may get a new start page with tabs for favorites, bookmarks, reading list and history. Weather could add a new Conditions panel that makes it easier to view rain, wind and other data without having to jump to another page. Image Playground, Apple’s image-generation app, is also expected to get a cleaner interface and more lifelike image models.
Systemwide, Apple is reportedly tweaking the bottom navigation bars in apps including Podcasts, TV, Music, Health and News, folding search back into the main row of app tabs. The iPhone keyboard may also get a new animation, and you could get undo and redo controls when customizing the home screen.
Apple hasn’t announced iOS 27 yet, and Bloomberg said an Apple spokesperson declined to comment. Apple did not immediately respond to CNET’s request for comment.
But with WWDC less than a month away, the report offers a clearer picture of what Apple may emphasize this year: not just new AI features, but a more flexible iPhone interface you can shape to your phone’s use.
This story was originally published by ProPublica. Republished under a CC BY-NC-ND 3.0 license.
To the narcotics agents investigating drug smuggling in Puerto Rico prisons, it seemed at first like a typical scheme: associates of an inmate gang sneaking drugs into the prison, gang members distributing them inside and bank records showing the money flowing.
Then the agents discovered something unusual.
Leaders of the prison gang known as Los Tiburones, or the Sharks, were selling drugs to inmates not only for money, but for their votes. Specifically, votes for now-Gov. Jenniffer González-Colón, a longtime Republican and supporter of President Donald Trump, investigators found.
To make sure the inmates — many of whom were addicted — complied, the gang’s leaders threatened violence and to withhold drugs, the investigators learned. Corrections employees in on the plan looked the other way as the gang, formally known as Group 31, ran the enterprise.
What at first seemed like a routine drug case had turned into something bigger. Puerto Rico, along with just a couple of U.S. states, allows inmates to vote. Puerto Ricans living in the territory can vote in all contests except federal general elections. It is a felony to willfully offer money or gifts in exchange for support at the polls. A conviction carries fines of as much as $250,000 and imprisonment of up to two years.
Investigators had gathered solid evidence of election fraud implicating both inmates and staff, and they were working toward determining whether González-Colón or her campaign was involved, four people with knowledge of the case told ProPublica. They requested anonymity because they are not authorized to speak publicly about the case.
But as federal prosecutors prepared an indictment against the inmates and staff in November 2024 — just days after Trump won the election and González-Colón clinched the governorship — they received a surprising directive. Their bosses in the U.S. Attorney’s Office for the District of Puerto Rico instructed them to exclude the voting-related counts against the inmates and all charges against the prison staff, an investigation by ProPublica found.
In December, they filed an indictment charging 34 inmates and associates with crimes including drug distribution resulting in at least four overdose deaths, money laundering and possessing a firearm. And while prosecutors described the drugs-for-votes scheme in the court filing, they did not include a single charge related to it.
Soon after Trump took office, the lead prosecutor, Jorge Matos, was told by a supervisor to take the investigation no further, according to four people familiar with the case.
“Before the election, it was definitely full steam ahead,” said one person familiar with the case. “After the election, that all changed.”
Matos, who left the Justice Department in June 2025, did not respond to phone calls or texts from ProPublica or attempts to reach him on social media.
For those working on the case, the decision to scrap the investigation was especially puzzling given the new president’s agenda; Trump issued executive orders in early 2025 aimed at eradicating drug traffickers and declaring election integrity “fundamental” to maintaining American democracy.
“We invested so much effort to make a difference,” said another person. “We’re frustrated, but there’s nothing we can do.”
People close to the case wondered if politics had played a bigger role than law and order. Trump congratulated González-Colón in a letter shared at her January 2025 inauguration saying, “I am so proud of your resounding victory.” That same month, she pushed to erect a statue of him at the Capitol building in San Juan alongside other presidents who’ve visited the island. “He deserves that,” she said, according to an official post from the Federal Affairs Administration of Puerto Rico on X.
W. Stephen Muldrow, the U.S. attorney for the District of Puerto Rico, was appointed by Trump in 2019 and has served continuously since then. His name appears on the indictment along with those of three assistant U.S. attorneys. Muldrow told ProPublica his office does not comment on open investigations other than in press releases or press conferences. While a couple of the inmates have accepted plea deals, most of the drug and money-laundering cases against the inmates and associates are still making their way through the court system.
In a follow-up email, a spokesperson for the office noted the indictment was filed during the Biden administration and under the previous governor of Puerto Rico.
Charging corrupt public officials “has always been and remains a top priority” of the office, wrote spokesperson Lymarie Llovet-Ayala.
“When sufficient admissible evidence exists to charge persons involved in public corruption, as required by the Justice Manual, the Puerto Rico U.S. Attorney’s Office will aggressively pursue such charges,” she wrote.
In court documents tied to a different case, in October 2025, a magistrate judge mentioned “an unrelated white-collar investigation involving the Governor of Puerto Rico.” Muldrow’s office responded in a filing, stating, “There is no white-collar investigation (or any other investigation) of Puerto Rico Governor Jenniffer González-Colón.”
González-Colón has not been charged with a crime. The governor declined ProPublica’s repeated requests for an interview and did not respond to written questions sent to her communications team.
Muldrow had a friendly working relationship with former Attorney General Pam Bondi when she was the state attorney general in Florida and he was an assistant U.S. attorney in the middle district of that state, according to people who know him.
A Department of Justice spokesperson said in an email, “Neither Attorney General Bondi nor Acting Attorney General Blanche was involved in any charging or investigative decision in this Biden administration prosecution.”
The attorney general’s office noted in a statement that the indictment mentioned allegations of voting coercion, and said: “This office did not limit the underlying investigation in any way.”
In May 2025, in a move that federal prosecutors and political observers alike said was highly unusual, the Office of the Director of National Intelligence seized the voting machines from Puerto Rico over concerns about “vulnerabilities,” according to testimony in March by Director Tulsi Gabbard to Congress.
A spokesperson from the office told ProPublica the seizure was at the request of the U.S. attorney’s office in Puerto Rico and was “not about any election in particular.” The goal was to “assess risk to this critical infrastructure, given similar infrastructure is used throughout the United States,” the spokesperson said in an email.
Muldrow didn’t answer questions from ProPublica about the matter.
Lydia Lizarribar, an attorney for Juan Carlos Ortiz-Vazquez, a Group 31 member who prosecutors named as one of the leaders of the drug operation, declined to comment on the case.
The Puerto Rican prison system has a long and well-documented history of overcrowding, inadequate medical care and other human rights violations so egregious that in the late 1970s they prompted federal oversight that continued for decades.
The grim conditions spurred inmates to form advocacy groups like Group 31, which was officially created as a nonprofit to lobby corrections officials and lawmakers to improve inmates’ quality of life. Over time, federal prosecutors say, several of these groups operating in the prisons evolved into violent criminal organizations such as Los Tiburones and Ñetas, with memberships in the thousands.
The poor conditions were also the backdrop for a push in 1980 by the New Progressive Party governor at the time, Carlos Romero Barceló, to codify voting rights for prisoners.
Inmates have been aligned with the party ever since, political analysts said. Political parties in Puerto Rico differ dramatically from those on the mainland. They don’t adhere to a straight divide among Democrats and Republicans. Instead, the two main parties center much of their focus on whether Puerto Rico should become a state and so have Republicans and Democrats within each.
It’s not unheard of for politicians of all parties to court the inmate vote, but the New Progressive Party has made it a “stronghold,” said Fernando Tormos-Aponte, a political scientist with expertise on Puerto Rico and an assistant professor of sociology at the University of Pittsburgh.
“It’s been a huge advantage for them particularly as elections in Puerto Rico have been decided by small margins,” Tormos-Aponte said of the New Progressive Party. In the 2024 general election for governor, the party won 83% of the inmate vote, according to a ProPublica tally of voter returns on the State Elections Commission’s website.
Inmate votes were especially key in the 2024 gubernatorial primary as González-Colón, a longtime New Progressive Party member, was challenging the incumbent governor of the same party.
She won the primary by fewer than 30,000 votes, according to the State Elections Commission. Local news reports said that an estimated 5,000 prisoners voted territorywide.
In her first months in office, González-Colón signed a law allowing people with criminal records to obtain professional licenses in Puerto Rico.
In July, she signed off on a law expanding inmates’ ability to hold jobs in the private sector, calling it “part of a vision of social justice,” adding “we believe in the second chance, in the value of work and in the capacity for transformation of the human being.”
In March, González-Colón signed a law requiring the parole review board increase the pace at which parole denials are reconsidered. She said in a press release the law is aimed at a “fairer, more transparent system focused on rehabilitation.”
Political analysts said rumors have swirled over the decades about coercive tactics being used to mobilize the prison vote, raising significant questions about the extent to which that support comes in exchange for favors from the ruling party.
This time was different, sources said. They had evidence. Prosecutors had “locked up” the voting-for-drugs scheme among the gang, inmates and staff, and were deep into investigating a potential political connection when Muldrow’s office pulled the plug.
“These are the type of questions you would think an administration that has publicly declared this war on drug trafficking would investigate further,” Tormos-Aponte said of the Trump administration. “You would think it would be a priority.”
For the people familiar with the prison election fraud investigation, it was clear politics were at play in the decision to abandon charges prosecutors were confident they could win. What wasn’t clear, they said, was who was pulling the strings and how. It was “like you’re watching a puppet show but you can’t see the strings,” one person said.
“You know what you’re seeing isn’t telling the whole story,” the person said. “There was some kind of invisible hand.”
Although they excluded drugs-for-votes charges, prosecutors didn’t scrub the Dec. 12, 2024, indictment of how they believed the operation worked.
Outside associates of Los Tiburones, the indictment alleged, primarily used drones to drop drugs on prison grounds. Then staff participating in the scheme helped in the “introduction and distribution” of the drugs inside the prison or acted as lookouts. The employees also allowed the gang members to enforce their own discipline system against those who didn’t do as they asked, including when voting. Punishments included withholding food from inmates or forcing them to sit with their arms folded while they were beaten and kicked. In four cases, the drugs led to overdose deaths, the indictment says.
The indictment also alleged that Los Tiburones made connections with government officials “for the purpose of reducing prison sentences,” and the gang mandated both the prisoners’ political affiliations and “who to vote for in primary and general elections.”
A relative of one of the prisoners told ProPublica that inmates had to show their ballots to gang leaders when they voted to avoid punishment.
Puerto Rico’s Civil Rights Commission, which for decades has sent observers to polls across the territory, reported “serious difficulties” in gaining access to several prisons during the 2024 general election. After being denied entry at multiple locations, the commission successfully sought a court order, but much of the day had already passed by the time the observers were allowed in.
“We strongly condemn the lack of diligence and indifference shown by the Department of Corrections and Rehabilitation in hindering the functions of this Commission on the day of early voting in correctional institutions,” the agency later wrote in a special report on the 2024 elections.
The report said observers witnessed prisoners voting in cramped quarters that didn’t allow for privacy and having to hand their ballots to others to put in the box.
Ever Padilla-Ruiz, the commission’s executive director, told ProPublica that inmates sent written complaints to the office detailing their experiences of being pressured to vote in the primary — some for González-Colón and others for her opponent, Pedro Pierluisi. They did not mention any gangs by name, Padilla-Ruiz said.
He said inmates reported that inmate group leaders were “always sending messages” up until election day, adding that they were too afraid to say much more.
Several people familiar with the case said investigators had evidence that González-Colón had spoken to a Group 31 member, but they had not determined whether she was involved in vote buying.
One of the imprisoned gang leaders had bragged on Facebook about his connection to González-Colón, posting a picture of him talking with her on WhatsApp while the primary campaign for governor was underway, two sources said.
She clearly benefited from the scheme, they said. “There was no doubt about that,” one said, noting that thousands of votes were likely at stake.
The indictment notes that gang members were provided preferential treatment such as relaxed visitation policies and the use of Sony PlayStations, big screen TVs and cellphones, but investigators had not connected the privileges to González-Colón or her campaign.
González-Colón has been a longtime advocate for Puerto Rico statehood and has been engaged in Republican politics for more than 20 years. She was elected chair of the Republican Party of Puerto Rico in 2015 and two years later became resident commissioner, a role similar to a U.S. representative but with limited voting power in Congress.
She’s been an active participant in Latinos for Trump, praising the president over the years as “wise” and in 2019 saying on social media, “Latinos are winning under his leadership.”
As she continues to lobby for Puerto Rico to become the 51st state, González-Colón has also leaned in to her relationships with other members of Trump’s Cabinet, posting well wishes on social media to Susie Wiles, Trump’s chief of staff, and congratulating Markwayne Mullin, the Homeland Security director Trump picked to replace Kristi Noem, calling him “my good friend.”
“I know he will provide strong leadership as he works with President Donald J. Trump to strengthen our nation’s security,” she wrote in a March Facebook post.
Experts on Puerto Rican finance and politics say the relationship between González-Colón and the Trump administration is symbiotic though lopsided.
“I see it more as a situation of unrequited love,” said Alvin Velazquez, an associate law professor at Indiana University’s Maurer School of Law and an expert on Puerto Rico’s bankruptcy in 2017.
The territorial island, whose residents were granted U.S. citizenship in 1917, receives less federal funding than most states. Political leaders in Puerto Rico, González-Colón included, have perpetually lobbied for more support.
Republicans in turn have capitalized on González-Colón’s rise as she helped bolster GOP support among the Puerto Rican diaspora and other Latino voters on the mainland. Now-Secretary of State Marco Rubio endorsed González-Colón in her 2024 gubernatorial election.
Polls specifically isolating Puerto Rican voters show that Trump saw at least a 4 percentage point uptick in votes from Puerto Ricans living in states compared to the 2020 election, garnering 45% of the group’s vote in the 2024 election, according to the nonprofit research center Instituto Cervantes at Harvard University.
And perhaps most importantly, experts say, Trump has counted on González-Colón to support his strategic geopolitical initiatives in the region, including the controversial reopening of long-abandoned naval bases in Puerto Rico. González-Colón welcomed Defense Secretary Pete Hegseth to the island in September and thanked Trump on X for “recognizing the strategic value Puerto Rico has to the national security of the United States and the fight against drug cartels in our hemisphere.”
That’s despite the sentiment among many Puerto Ricans who were angered by Trump’s response to Hurricane Maria in 2017 and a comedian at one of Trump’s 2024 campaign rallies who called Puerto Rico a “floating island of garbage.” And while Trump has said that González-Colón was “wonderful to deal with and a great representative of the people,” he later called Puerto Rico “one of the most corrupt places on earth.”
Filed Under: doj, donald trump, drugs for votes, jennifer gonzalez-colon, jorge matos, los tiburones, puerto rico, voter fraud
RedMagic’s next compact gaming tablet won’t be arriving as soon as expected.
The company has confirmed that its long-rumoured OLED gaming pad will miss the upcoming launch event. Instead, it will debut after the RedMagic 11S Pro series, which is scheduled to be revealed on 18 May 2026 in China.
The company expected to launch the tablet — unofficially dubbed the Gaming Tablet 5 Pro — alongside the new 11S Pro phones. The phones will run on the overclocked Snapdragon 8 Elite Gen 5. However, RedMagic product manager Jiang Chao says the team still needs to resolve “bottlenecks” before it can launch the tablet.
Instead, RedMagic says it will share more updates during the 11S Pro launch event. This suggests the tablet is still very much in development, just not ready for its moment yet.
On paper, this is shaping up to be one of RedMagic’s more ambitious tablets. Previous leaks point to a compact OLED display with a 185Hz refresh rate, paired with a large 8,300mAh battery. It’s also expected to pack up to 24GB of RAM and 1TB of storage. This puts it firmly in “overkill gaming device” territory.
Performance is clearly the focus here. The company also expects the tablet to feature a cooling system similar to the RedMagic 11 Pro series that should help sustain high performance during longer gaming sessions. Like its predecessor, it may also include a pre-installed PC gaming emulator designed to bring desktop titles onto a handheld form factor.
That said, competition in this space is only getting tougher. Devices like Lenovo’s gaming tablets are already pushing high-refresh displays and flagship chips. This may explain why RedMagic is taking extra time to fine-tune performance before launch.
For now, the company makes one thing clear: it has not cancelled the tablet, only delayed it. And with RedMagic expected to reveal more at the May event, we’ll likely get a clearer picture in a week’s time.
Data breaches and cyberattacks are becoming more and more common. Given that hackers are adept at exploiting vulnerabilities of unsecured networks, the worst thing you can do is neglect the security of your home Wi-Fi network. After all, if your Wi-Fi is compromised, it can put almost all of your wireless devices and smart home appliances. Cybercriminals can use your connected devices to access sensitive information like your Social Security number, login passwords, financial details, and even surveillance footage. They can also gain your router’s control and easily intercept and read the data you receive and send.
With that said, if you want to keep your work private and personal data safe, you’ll want to secure your home network by following basic router hygiene steps. Now, if you’re like many people, you’ve probably never changed your router’s default login details. The thing is, a good chunk of routers (especially older ones or rentals from your ISP) usually use generic passwords, which come in variations of “admin” or “password”, and you can easily find them online. Considering that there are tools specifically designed to exploit router vulnerabilities within a few hours, if they fall into the hands of a mischievous neighbor, they could change your Wi-Fi network password. As such, you may end up dealing with malware attacks, data theft, and hijacking of connected devices.
That’s why the Federal Trade Commission (FTC) recommends that you change your Wi-Fi network name and password, as well as your router’s admin password. Just make sure the password is strong and unique, and that your Wi-Fi name doesn’t include your name or address.
One of the worst cybersecurity mistakes you’re probably making is ignoring the need to update your router’s firmware. Sure, firmware updates aren’t fun, but they can make a huge difference for your smart home security. The moment you fail to update your router updates, security vulnerabilities will appear, and they’ll become easy targets for cybercriminals. That’s why it’s wise that you check for updates through your router’s web interface or app. These updates will bring patches that’ll close security loopholes and also fix random connection drops and slow internet speeds.
However, if your router is no longer receiving updates, you should replace it with a newer, factory-supported model. You’ll also want to replace your router if it’s been pushing five years now, or if you can’t even remember the last time you heard anything from your manufacturer. This is because any security loophole discovered after the manufacturer stops issuing updates will remain open forever. Apart from updating your router, you’ll also want to verify if your router’s built-in firewall is actually switched on. The firewall serves as the primary security guard for your home Wi-Fi network, which keeps unwanted traffic out. While at it, it’s also advisable that you navigate to the security settings and choose the highest level of Wi-Fi encryption available (WPA3 or WPA2).
If your Wi-Fi feels overloaded with too many users and devices, you’ll want to set up a guest Wi-Fi network. As the name suggests, it’s a separate Wi-Fi network that your friends can use without accessing your primary Wi-Fi. This protects your computers, smartphones, and other smart home gadgets from unwanted access or interference. Also, given that hackers can use your smart refrigerator or security camera to invade your privacy, a guest network will add a layer of protection by keeping your always-chatty smart home gadgets separate from your personal ones.
Even though your visitors don’t plan to access your private information, a guest network can protect your devices from being infected with malware and viruses. In addition to making your smart home safer, a separate network can improve your Wi-Fi network’s performance by reducing congestion.
With that said, creating a guest Wi-Fi network is quite easy. You just need to log in to your router’s dashboard and create a new SSID name and password. Just keep in mind that you’ll need a modern router with this security setting. However, if you have an old router, you can repurpose it to create a separate network.
Sam Altman faced pointed questions Tuesday about his personal financial ties to Helion Energy, the Everett, Wash., fusion startup that’s aiming to supply vast amounts of energy to both OpenAI and Microsoft to power future data centers for artificial intelligence.
Testifying in the Musk v. Altman trial in Oakland, the OpenAI CEO confirmed under cross-examination that he owns roughly one-third of Helion, a stake valued at approximately $1.65 billion as of late 2025, according to financial disclosures in the case.
Altman, who left the Helion board in March, said he consistently recused himself from OpenAI’s dealings with the fusion company. Asked by Musk’s lawyer Steven Molo to explain what that meant in reality, Altman said it covered “the decision to proceed and the final approval of terms.”
He noted that OpenAI has never bought or received any power from Helion but said a 2024 agreement was “a way for us to have the opportunity to do that in the future.” Altman said he was aware of a second agreement in March 2026 but was not familiar with its details.
He acknowledged that “a huge percentage” of his time at OpenAI is spent securing energy and compute resources, which he was previously doing while also chairing Helion’s board.
Helion has separately agreed to sell power from its first commercial fusion plant, under construction in central Washington, to Microsoft starting in 2028. Microsoft, OpenAI’s longstanding partner and one of its largest investors, is also a defendant in the case.
It was part of a broader argument by Musk’s attorney that Altman used his position at OpenAI to boost the value of his personal investments. Financial disclosures in the case showed that Altman has a stake of more than $2 billion in companies that do business with OpenAI.
Musk alleges in the lawsuit that Altman and other OpenAI leaders secured his donations to found OpenAI as a nonprofit before converting it into a for-profit venture, enriching themselves in the process. OpenAI and Microsoft, which is also a defendant, have countered that Musk supported the conversion and sought unilateral control of the company for himself.
Molo also pressed Altman on his role negotiating a $200 million data deal between OpenAI and Reddit while holding a significant personal stake in the social media company. Altman said the deal arose from mediation under threat of legal action and that the board asked him to participate because he had the most context.
The conflict-of-interest questions extend beyond the courtroom.
The House Oversight Committee sent Altman a letter on May 8 requesting documents related to OpenAI’s handling of potential conflicts, citing the Helion relationship specifically.
In the letter, the Oversight Committee said it wanted to ensure that “funds donated for charitable purposes are not diverted for unintended uses, such as artificially increasing the market value of other companies in which an executive or board member may hold an interest.”
A group of Republican state attorneys general separately called on the SEC to scrutinize the issue ahead of OpenAI’s planned IPO, the Wall Street Journal reported.
Helion did not immediately respond to a request for comment.
It’s not the only local company caught up in the issue. The WSJ also reported that Altman last summer approached Kent, Wash.-based rocket maker Stoke Space about partnering with OpenAI on data centers in space. Altman is an investor in Stoke through his family office.
Helion, founded in 2013, is developing technology to generate electricity from nuclear fusion, the process that powers the sun. No company has yet demonstrated that fusion can produce commercially viable power, but Helion has raised more than $1 billion from investors and broke ground last summer on its first plant in Malaga, Wash.
Altman has been one of the company’s biggest backers, personally investing $375 million in a $500 million round in 2021 and joining as board chairman in 2015, shortly after recruiting the company into the Y Combinator startup accelerator.
The Helion questions were part of a wide-ranging day on the stand for Altman. He also sparred with Musk’s lawyer over accusations of dishonesty from former colleagues and defended his decision to return to OpenAI after being fired by the board in November 2023 — saying he was “willing to run back into a burning building” to try to save the company and its mission.
GeekWire reported on today’s proceedings via the court’s audio livestream.
SAP embedded Berlin-based n8n inside Joule Studio as the orchestration layer for its Autonomous Enterprise platform, doubling n8n’s valuation to $5.2 billion and making the fair-code workflow automation startup Germany’s most valuable AI company.
TL;DR
Jan Oberhauser started n8n in 2019 as a side project in Berlin because the workflow automation tools he used at work were too expensive and too closed. Seven years later, SAP has embedded his company’s software inside Joule Studio, the agent-building environment at the centre of the Autonomous Enterprise platform that SAP unveiled at Sapphire last week. n8n’s valuation has doubled to 5.2 billion dollars. SAP took a stake of roughly 1.3 per cent. The side project is now Germany’s most valuable AI company, and the world’s largest enterprise software maker just told 300,000 customers that n8n is the orchestration layer their AI agents need.
The deal says less about n8n than it does about a gap in the enterprise AI stack that nobody else has filled.
SAP now has more than 200 specialised AI agents and 50 domain-specific assistants across finance, supply chain, procurement, human resources, and customer experience. The agents can automate a financial close, reconcile invoices, resolve procurement exceptions. What they cannot do, natively, is talk to the thousands of non-SAP systems that every enterprise runs alongside its ERP. The average large company operates between 200 and 400 software applications. SAP covers dozens. The rest are CRMs, ticketing platforms, communication tools, data warehouses, custom internal APIs, and the accumulated debris of two decades of SaaS procurement.
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n8n connects them. The platform offers a visual workflow canvas where developers and technical operators drag, drop, and wire together integrations between systems. It supports more than 1,000 integrations, over half of them built and maintained by technology partners, and can call any API with a generic HTTP node. The workflows can be triggered by events, scheduled on timers, or invoked by AI agents that need to take action in external systems. n8n runs on SAP’s Business Technology Platform cloud infrastructure, which means the data stays inside the customer’s SAP environment. It does not leave.
The multi-year commercial agreement makes n8n a native capability inside Joule Studio. SAP customers building agents in Joule can use n8n to connect those agents to systems outside the SAP ecosystem without writing custom integration code. General availability is planned for Q3 2026. The partnership also supports Cursor and Claude Code inside Joule Studio, but n8n is the workflow orchestration layer, the piece that turns an AI agent’s decision into an action across multiple systems.
n8n was founded in Berlin in 2019 and operates under a fair-code licence, a model that makes the source code visible, allows self-hosting, and permits modification, but restricts commercial redistribution without a licence. The approach sits between open source and proprietary software. Users can inspect every line of code, deploy n8n on their own infrastructure, and build custom nodes. Enterprises that want managed hosting, support, and governance pay for n8n Cloud or an enterprise licence.
The model has produced 183,000 GitHub stars, making n8n one of the most-starred JavaScript projects in the world. It has more than 230,000 active users, over 3,000 enterprise customers including Microsoft, KPMG, Vodafone, Delivery Hero, Volkswagen, Decathlon, and Twitch, and annual recurring revenue of 40 million dollars growing at ten times year on year. Total funding is 240 million dollars, with a Series C led by Accel that included backing from Nvidia.
Accel raised five billion dollars in early 2026 for late-stage AI investments after returns from Anthropic and Cursor soared, and n8n sits in the same portfolio thesis: infrastructure tools that developers adopt bottom-up before enterprises buy top-down. Accel backed Anthropic at the model layer, Cursor at the coding layer, and n8n at the orchestration layer. The SAP deal validates the bet. A tool that 1.7 million developers chose voluntarily is now being distributed to 300,000 enterprises by the company that runs their back office.
n8n competes with Zapier, which offers more than 7,000 integrations and has built its own AI agent capabilities, and Make, which provides a visual workflow builder with a strong following among marketing and operations teams. Both are closed-source, cloud-only platforms. Neither can be self-hosted. Neither exposes source code. In a market where enterprises increasingly demand auditability, data sovereignty, and the ability to run AI workflows inside their own infrastructure, n8n’s fair-code model is a structural advantage rather than an ideological choice.
The SAP partnership changes the competitive dynamics. Zapier and Make serve the long tail of small and medium businesses connecting SaaS applications. n8n now has a distribution channel into the largest enterprises on the planet through the software they already run. A procurement officer at Volkswagen does not evaluate workflow automation tools. They use what SAP provides inside Joule. n8n just became the default.
European technology leaders have argued that Europe’s competitive advantage lies in AI applications rather than AI infrastructure, building the tools that sit on top of foundation models rather than competing to build the models themselves. n8n is the embodiment of that thesis. It does not train models. It orchestrates them. It connects the intelligence that foundation model companies produce to the business systems where that intelligence creates value.
n8n is now Germany’s most valuable AI company and one of Europe’s most valuable startups. The 5.2 billion dollar valuation places it above most European enterprise software companies that have been operating for decades. It reached that valuation with 40 million dollars in annual revenue, a ratio that reflects the market’s judgement of what n8n’s revenue will become once the SAP distribution channel is fully operational.
Five European startups crossed the billion-dollar valuation threshold in the opening weeks of 2026 alone, spanning sectors from cybersecurity to defence technology. n8n’s trajectory illustrates a pattern that is becoming more common: European companies building developer-first tools that accumulate community adoption before converting that adoption into enterprise revenue through partnerships with established platforms.
Europe’s scaleup ecosystem faces structural growth barriers including fragmented markets, talent competition, and the absence of the hyperscale distribution channels that American startups access through partnerships with AWS, Google, and Microsoft. n8n’s SAP deal is a European answer to a European problem. SAP is headquartered in Walldorf, 600 kilometres from n8n’s Berlin office. The distribution channel is European. The enterprise customers are global. The infrastructure runs on SAP’s own cloud. For a continent that has struggled to turn technical innovation into market-scale enterprise businesses, the partnership is a template.
The enterprise AI stack is settling into distinct layers. Foundation model companies build the intelligence. Application companies embed that intelligence into domain-specific software. But between the model and the application sits a layer that is less visible and arguably more valuable: orchestration. The part that connects an AI agent’s reasoning to the systems where that reasoning must produce an action. The part that routes a procurement approval from Joule to a Slack notification, a Jira ticket, a DocuSign envelope, and a general ledger entry, in sequence, with error handling, retry logic, and an audit trail.
That is what n8n does. That is why SAP embedded it inside the platform it is betting its future on. The model layer has Anthropic, OpenAI, and Google competing on benchmarks. The application layer has SAP, Salesforce, and ServiceNow competing on process coverage. The orchestration layer, the glue that makes agents useful across systems rather than within them, had no incumbent. n8n just became one.
Building a scaleup requires an ecosystem, and n8n’s ecosystem was never a corporate partnership programme or a venture-backed growth playbook. It was 183,000 developers who starred a repository, built custom integrations, filed issues, and told their colleagues. SAP did not discover n8n through a vendor evaluation. It discovered n8n through the developers inside SAP’s own customer base who were already using it. The side project from Berlin became the orchestration layer of the Autonomous Enterprise because the developers got there first.
Sam Altman took to the witness stand to defend his reputation in the Musk v. Altman trial on Tuesday, as Elon Musk’s lawyers peppered the OpenAI CEO with hours of questions regarding his alleged history of deceptive behavior.
The cross examination was a much needed win for Musk, who has so far struggled to make a convincing case. Tuesday’s testimony included several heated exchanges in which the OpenAI CEO had to respond to allegations from former colleagues suggesting he’s untrustworthy.
Highlighting this evidence is not only important for Musk winning over a jury, but also for beating OpenAI in the court of public opinion. Days before the trial started, Musk texted OpenAI President Greg Brockman and told him that he and Altman would soon “be the most hated men in America.”
Musk’s lawsuit accuses Altman of effectively stealing the OpenAI charity, and taking the $38 million Musk donated to the non-profit organization and using it to create a for-profit business worth more than $850 billion.
However, there was little evidence on Tuesday to address the gaps in Musk’s legal case. Altman and Sam Teller, Musk’s former chief of staff, testified on Tuesday that they did not recall Musk ever attaching any special conditions to his donations to OpenAI. Additionally, it appears increasingly likely that Musk filed his case too late, years after he made his last donation to OpenAI and developed suspicion that the organization had breached its charitable trust. By then, the statute of limitations had already expired.
Brockman and his wife, Anna, sat in the gallery alongside OpenAI’s chief futurist, Joshua Achiam. While Altman and Brockman were present to watch Musk on the witness stand, Musk did not stay for Altman’s testimony. (Flight records suggest he was traveling to the Washington, DC area on Tuesday to fly to China with President Donald Trump.)
Before fielding questions from Musk’s lawyers, Altman had the chance to tell his side of the story, answering gentle questions from OpenAI’s lawyers. Wearing a purple tie, Altman painted himself as an entrepreneur and investor who’s always been fascinated by, and concerned about, the power of artificial intelligence.
Altman testified that Musk has long been obsessed with controlling OpenAI. He recalled “a particularly hair-raising moment” when Musk suggested that control of OpenAI should pass to his children if Musk were to die. “We didn’t feel comfortable with that,” Altman said. Altman also suggested that Musk’s attempt in 2018 to start an AI unit within Tesla—and offering him the chance to run it—felt like a “vague, lightweight threat” that Musk would effectively crush OpenAI with or without him.
Steven Molo, Musk’s lawyer, wasted no time in his cross examination, asking Altman:“Are you completely trustworthy?” as his first question. Altman responded that he believes so, and then Molo immediately asked whether the jury should trust the testimony he just gave. Altman responded, “That’s up to them. I’m not going to tell the jury what to think.” Here’s the heated exchange that followed, as best as WIRED could capture it:
Molo: Do you always tell the truth?
Altman: I’m sure there is some time in my life where I have not.
Molo: Do you tell lies to advance your business interests?
Altman: No.
Molo: Have you misled people with whom you do business?
Personal Tech
If you’re not a fan of having AI baked into your OS, look elsewhere
Google is rolling out a new line of laptops based on Android instead of ChromeOS, and using the opportunity to try and move upmarket from the budget-conscious Chromebooks – while also baking AI into every fissure of the system.
The new line of so-called Googlebooks seems even more obtrusive about pushing embedded AI than Windows 11 embedding Copilot into everything. With the OS on Googlebooks, which the company touts as the best of Chrome OS and Android, even moving the cursor over an on-screen task such as the text of an email nags you to offload work to Gemini.
Google was has been publicly planning to merge Android and ChromeOS for a while, with Android boss Sameer Sama saying last year that the Android codebase would be the core of the new platform. This gives the company a chance to break into the premium laptop market, using one of its core assets, the Android ecosystem, to differentiate from the kid-friendly and budget-oriented Chromebook lineup.
While the laptops won’t be coming until later this year, we can already see from the press materials and video demo that this new kind of notebook is meant to out-Copilot Microsoft. One of the main features demoed, Magic Pointer, activates when you wiggle the cursor and shows you contextual suggestions based on what you hover over. For example, in the video, Alexander Kuscher, Senior Director of Laptops and Tablets at Google, showed how hovering over the date in an email brought up options to view his schedule, craft a reply saying “I’m in town on May 19,” or even use Google maps to suggest meetup spots. Having AI crammed into Windows Notepad seems quaint by comparison.
Kuscher also showed how dragging images on a Googlebook can combine them. He dragged a photo of a nursery onto an image of a swath of wallpaper and a picture of a crib and the system generated a picture of the nursery with the crib and the wallpaper included. The Google exec pointed out that an act like combining photos normally involves logging into a chatbot, uploading the photos, and giving it a prompt. Here it was just drag and drop. No word on whether the system can use your photos as training data.
Android apps will also work on Googlebooks, and users will also be able to launch them from the phones, much like Apple’s iPhone Mirroring. In the demo, Kuscher showed Duolingo running in a portrait-shaped window on the desktop operating system as if it were on his phone.
Google said that Googlebooks are being “built with premium craftsmanship and materials” by partners like Acer, ASUS, Dell, HP, and Lenovo. They also sport a Google-colored glowbar on the cover so everyone knows who owns your digital soul.
Considering the RAM shortage and the fact that IDC expects PC shipments to decline by 11.3 percent in 2026, Google has picked a challenging time to come out with a whole new category of laptop. While the company has not released pricing, we can only imagine that Googlebooks will be significantly more expensive than Chromebooks, which are currently in the $200 to $500 range in the US.
These new notebooks are likely to compete with premium consumer Windows and macOS laptops at a time when demand is declining and people are holding onto old devices longer. We see no evidence that Google is even targeting businesses and we doubt IT departments would be interested in the features the company has focused on.
Google also announced the expansion of Gemini Intelligence onto high-end Android devices (i.e., Samsung Galaxy and Google Pixel devices) as part of Tuesday’s I/O preview, noting that it’s designed “to help your phone handle boring tasks for you.” Google provides examples like filling out online forms, summarizing websites, and even rewriting voice-to-text messages to get rid of pauses and other natural speech patterns that detract from the written word.
Speaking of Chromebooks, we asked Google what will become of its budget hardware line with the release of the Googlebook, but we didn’t hear back. We imagine that they will probably continue to serve the educational market for some time.
Google made several other announcements during Tuesday’s presentation, including a new Pause Point feature in the upcoming Android 17 that follows in Apple’s steps by protecting you from your own worst instincts to scroll endlessly or waste half your day playing chess on your phone. It allows you to mark certain apps as “distracting” so that when you launch them, the phone asks you to take a deep breath and reconsider your actions, which is something Apple’s mindfulness app doesn’t do.
To the bane of everyone tired of social media reaction videos, Google is also baking the format right into Android with Screen Reactions that will allow users to capture video of their device screen along with sticking themselves in the lower corner so they can regale everyone with their opinion about whatever they’re talking over. ®
Early-stage venture firm A* on Tuesday announced a $450 million Fund III. The firm takes a generalist approach, backing companies across categories such as AI applications, fintech, healthcare, and security.
The average check size for this fund will be between $3 million and $5 million, with the aim to back at least 30 startups. The capital will be deployed over the next two to three years, as with the firm’s previous funds. Limited partners include nonprofits, foundations, and endowments; Carnegie Mellon University is among the publicly named backers.
A*, founded in 2020 and run by Kevin Hartz and Bennett Siegel, previously raised a $315 million Fund II in 2024 and a $300 million Fund I in 2021. Hartz is a serial entrepreneur best known for co-founding Xoom, the international money-transfer service PayPal later acquired for $1.1 billion in 2015, and Eventbrite, the event-ticketing platform that went public in 2018. Siegel came up through Boston Consulting Group and Altamont Capital Partners before spending four years as a partner at Coatue Management.
The firm has also drawn attention for backing unusually young founders, even as the practice has become more common since. Hartz told TechCrunch last fall that close to 20% of the firm’s current portfolio involve teenage entrepreneurs. Among others of its investments, it has backed the fintech company Ramp and the AI firm Mercor.
This story was updated to clarify the name of the firm.
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