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July 22, 2025 10 mins

JPMorgan Chase explores lending against cryptocurrency, and the UK will have to pay in order to join the EU’s defence fund. Plus, UK chancellor Rachel Reeves blames regulation for lack of financial growth and a start-up in San Francisco might know how to create gold. 


Mentioned in this podcast:

JPMorgan explores lending against clients’ cryptocurrency

EU will make UK pay to join €150bn defence fund

Will a return to risk-taking rouse animal spirits?

Fusion energy start-up claims to have cracked alchemy 


Today’s FT News Briefing was produced by Sonja Hutson, Katya Kumkova, and Marc Filippino. Additional help from Blake Maples, Michael Lello, David da Silva and Gavin Kallmann. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music.


Read a transcript of this episode on FT.com


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