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THE DAILY INDEX

Technology, AI, software, security, crypto and business

Across today’s newsletters

Today’s Index

OPENAI STAFFERS TO SELL $6 BILLION IN STOCK TO SOFTBANK, OTHER INVESTORS

Current and former OpenAI employees who spent at least two years in the company may have the opportunity to sell approximately $6 billion worth of shares to an investor group that includes Thrive Capital, SoftBank Group Corp., and Dragoneer Investment Group. The deal would value OpenAI at $500 billion. Talks for the deal are still in an early stage, and the size of the sale could still change. The sale will allow OpenAI employees a chance to get cash-rich amid a high-stakes talent war in the artificial intelligence industry.

ERMAC V3.0 BANKING TROJAN SOURCE CODE LEAK EXPOSES FULL MALWARE INFRASTRUCTURE

Complete source code for Android banking Trojan ERMAC 3.0 leaked from an open directory, revealing a Malware as a Service (MaaS) infrastructure targeting over 700 banking, shopping, and cryptocurrency apps. The leak exposed critical security flaws, including hardcoded JWT secrets, static admin tokens, and default credentials in the malware's PHP/Laravel backend and React frontend. ERMAC 3.0 features enhanced form injection methods, AES-CBC encrypted communications, and a Kotlin-based Android backdoor that avoids infecting devices in countries in the Commonwealth of Independent States (CIS).

FED ENDS CRYPTO BANK SUPERVISION PROGRAM

The U.S. Federal Reserve has shut down its “Novel Activities Supervision Program,” which was created in 2023 to oversee banks engaging in crypto and fintech partnerships. The Fed said it has integrated the lessons learned into its standard supervisory process, rescinding the program's guidance letter. The move continues a broader regulatory pullback under the Trump administration, with agencies easing restrictions on banks' crypto involvement and shifting toward updated rulemaking.

THE PALANTIR MAFIA BEHIND SILICON VALLEY'S HOTTEST STARTUPS

Several ex-Palantir employees are now founders at some of the buzziest startups in Silicon Valley. These founders lean on other ex-Palantir executives and engineers for support and financing. Palantir is a data analysis firm that works with the US military and intelligence agencies. Some venture capital funds' only mission is to invest in companies founded by people with Palantir experience. This article looks at the so-called Palantir mafia and the companies they have started.

SPACEX REVEALS WHY THE LAST TWO STARSHIPS FAILED AS ANOTHER LAUNCH DRAWS NEAR

SpaceX has received launch approval for the 10th full-scale test flight of its Starship rocket. The launch is scheduled for no earlier than August 24 at 6:30 pm local time in Texas. Starship's record in 2025 so far has not been great, with four failed test flights and the explosion and destruction of another Starship vehicle during a ground test in June. A good outcome on the text Starship test flight will give SpaceX footing to continue to step forward on its roadmap.

BIOTECH'S LOST ARCHIVE

FDA submissions contain unparalleled details about the design of clinical trials, manufacturing processes, safety assessments, and reviewer correspondences, but this information is not publicly available. This article details a proposal for a legally grounded mechanism for democratizing FDA filings. Freeing FDA submissions from obscurity would level the playing field for small biotech firms, academic teams, and nonprofits and enable AI-driven regulatory intelligence tools that dramatically lower compliance costs and accelerate approval timelines. AI stands to revolutionize drug development, but only if it can be trained on high-quality unredacted datasets.

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