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If youre crypto-rich and cash-poor, you might still have a shot at securing a home loan without having to sell off your assets. Starting next month, mortgage lender Newrez will let applicants count their cryptocurrency when applying for a home loan. Historically, a borrowers crypto holdings wouldnt be considered in the loan application process. For anyone holding a large amount of digital currency, liquidating someand incurring that tax billmight be necessary to qualify for a loan in instances where traditional investments or cash are scarce. Today, an increasing number of consumers include crypto in their investment portfolios, while major financial institutions are deepening their involvement in crypto assets, supported by key regulatory developments, Newrez President Baron Silverstein said in the announcement, adding that now is the right time to weave crypto into the mortgage lending business. The company plans to introduce the new option next month. Crypto isnt Newrezs only high tech experiment. Last week, the lender announced that it would invest an undisclosed amount in HomeVision, an AI-powered tool for the mortgage underwriting process. Newrez isnt a top 10 mortgage company by loan volume, but its clearly angling to make a name for itself as a lender friendly to new technologies that other, bigger lenders might be slower to adopt. Around 14% of adults in the U.S. own cryptocurrency, but the majority of Americans say they would never buy it, according to a recent Gallup poll. Noting that Gen Z and Millennial investors are more comfortable with crypto, Newrez Chief Commercial Officer Leslie Gillin described the change as opening new pathways to homeownership that offer home buyers increased financial flexibility. Cryptocurrency settles in Newrez is one of the first mortgage companies to open up to cryptocurrency, but its unlikely to be the last. In July, the Federal Housing Finance Agency directed Fannie Mae and Freddie Mactwo pillars of the U.S. mortgage ecosystemto draft proposals for considering crypto as an asset in mortgage applications. On X, the agencys director William Pulte explained that the plan was part of President Trumps vision to make the United States the crypto capital of the world. Major U.S. banks and other financial institutions started warming up to Bitcoin and other cryptocurrencies in 2025. Banks have long been skittish about the much-hyped digital assets due to regulatory uncertainty, their inherent volatility and a lingering association with cybercrime. But with Trump back in office, crypto is on the menuboth for banking stalwarts and speculative investors, who drove a post-election Bitcoin run that sent the king of coins to new heights. The president is also cashing in, raking in millions via token sales with World Liberty Financial, the Trump familys flashy, ethically dubious crypto venture. In the current intensely crypto-friendly regulatory environment, major banks have begun tiptoeing into the realm of digital currencies. This year, Chase will let customers leverage credit card rewards points to buy cryptocurrency through Coinbasea first for a major rewards program. Mastercard was reportedly shopping for a major crypto acquisition last year and went on to introduce new support for stablecoin wallets.
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E-Commerce
The first Big Tech layoffs of 2026 have happened. This week, Facebook owner Meta Platforms reportedly informed employees that up to 1,500 positions in its Reality Labs division would be eliminated. Heres what you need to know about the job cuts. Whats happened? Meta this week notified employees in its Reality Labs division that up to 10% of jobs could be lost, according to a Bloomberg report. A day earlier, the New York Times reported that the layoffs were expected. Reality Labs is a division of the social media giant primarily responsible for developing the companys augmented and virtual reality products. The division was responsible for spearheading Metas failed metaverse virtual-reality world. How many jobs are being lost? An exact figure is not known, but according to media reports, Meta is aiming to cut about 10% of its Reality Labs workforce. The division reportedly employs about 15,000 workers, so a 10% reduction equates to around 1,500 jobs lost. Bloomberg reviewed an internal post to Meta’s employees from the company’s chief technology officer, Andrew Bosworth. In that post, Bosworth announced the 10% layoff estimate. Fast Company has reached out to Meta for comment. Why is Meta laying off workers? In the internal post Bosworth sent to employees, the CTO reportedly announced that Meta was shifting its priorities away from virtual and augmented reality, while metaverse resources will focus more on mobile device experiences as opposed to VR headsets. At the same time, Bosworth also confirmed that Meta was looking to cut back on its investments in virtual reality (VR) in order to make its business more sustainable. A Meta spokesperson confirmed to Bloomberg that the company plans to reinvest the savings [from the Reality Labs cuts] to support the growth of wearables this year. The metaverse never took off The fact that Meta is reprioritizing its areas of focus to AI and mobile is of little surprise to those familiar with the companys metaverse virtual world initiatives. In 2021, Meta CEO Mark Zuckerberg announced that the social media company, formerly known as Facebook, would be pivoting to the next frontier of technology: virtual worlds. In October of that year, Zuckerberg announced the metaverse, and was so certain that the future of tech was VR that he even decided to change the companys name from Facebook to Meta. But in the more than four years since Meta went all-in on the metaverse, consumer interest in virtual reality worlds never developed beyond a niche appeal. Moreover, the arrival of ChatGPT in 2022 made clear that the next era of computing was AI, not VR. Since then, Meta has gone all-in on AI, and its metaverse products have languished as a result. Shares of Meta Platforms (Nasdaq: META) were down more than 2% in midday trading on Tuesday after the news broke. Metas job cuts are the largest tech layoffs of 2026 so far The Reality Labs job cuts have earned Meta the distinction of having the largest layoff round of any prominent tech company in 2026 so far. Many in the tech industryparticularly those working in non-AI sectors and divisionswill now likely be wondering whether other companies will follow suit and eliminate jobs in legacy divisions as tech firms continue to go all-in on AI development. According to data compiled by Layoffs.fyi, total tech layoffs in 2025 resulted in neqrly 124,00 jobs lost at 269 tech companies. While significant, the annual level of tech job layoffs has been decreasing since 2022, according to the site. In 2022, there were more than 165,000 tech layoffs. That number rose to nearly 265,000 in 2023, before falling to around 152,000 in 2024.
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E-Commerce
New AI tools from Docusign aim to make contracts easier to understand and quicker to prepare. For people signing documents like leases or purchases agreements, a new AI feature will make it possible to request an overall summary of the contract and its key terms. Users will also be able to ask questions about the document, which for consumer agreements could include requesting details about cancellation procedures, fees that may apply, relevant timelines, or terms of a warranty. The whole purpose of this is to allow and provide a level of trust to the signer so that they understand what is it that they’re signing, says Mangesh Bhandarkar, GVP of product management at Docusign, and help them get through the signature process in a much quicker way, with a better understanding of the agreement itself. In a demonstration for Fast Company, Bhandarkar highlighted how the AI could generate a basic summary of a residential lease, automatically pulling out key terms like the rental period, monthly rent, and landlord and tenant responsibilities for various utilities. The AI also answered questions about other terms like pet fees, including links to relevant, highlighted sections of the document. [Image: Docusign] AIs use in the legal field has been controversial, with some AI legal research and analysis plagued by incorrect answers and AI hallucinations. But Bhandarkar says the company feels confident in its Iris AI system, which has been honed specifically to handle contracts based on Docusigns specialized dataset of written agreements and designed to provide in-document citations. We make sure that it is not hallucinating information that is not in the document, he says. Still, Bhandarkar emphasizes that Docusign isnt offering formal legal advice or a substitute for getting a thorough understanding of a contract before signing it. Rather, he says, the company is trying to give a better understanding and a quicker understanding of the makeup of the agreement with relevant data that could help you make an informed decision about the actions you’re taking. [Image: Docusign] Docusign, which says it helps more than 1 billion people sign contracts every year, reports a recent survey indicated that nearly 75% of contract signers would feel more confident with a plain-English AI summary of the documents theyre signing. And some users, Bhandarkar says, are already using general-purpose AI tools like ChatGPT for help in understanding contracts. Theyll now be able to access AI thats both specifically optimized for the task and integrated into the platform theyre already using to review and sign the agreement. The new feature will likely also help organizations that are creating contracts for consumers to sign, since they may see contracts signed faster and with fewer inquiries. Document creators at all plan levels will be able to choose whether to enable signers to use the tool with particular contracts, Bhandarkar says. In recent years, Docusign has rolled out other AI features in moving to offer what it calls an intelligent agreement management (IAM) platform, where organizations can draft, store, and analyze contracts using AI and other tools, in addition to simply collecting signatures from other parties. More than 25,000 customers currently use the IAM platform, Bhandarkar adds. And additional AI offerings aim to make the process of drafting contracts that much faster. Docusigns AI is gaining the ability to automatically detect areas on imported documents such as PDFs that should be turned into digitally fillable fields, making it that much quicker to turn draft agreements into interactive versions without manually dragging and dropping fields, Bhandarkar says. Document creators will naturally be able to preview and edit fields before sending documents out for signature, and field suggestions will be available in all Docusign plans. The companys AI is also gaining the ability to validate email addresses and phone numbers where agreements are sent for signature, in order to reduce cases where documents are sent to the wrong destination. That feature, which will be available in Docusign Business and IAM plans, relies on a mix of internal data from peoples past interactions with Docusign and external data sources, Bhandarkar says. Bhandarkar says Docusign will be tracking metrics like whether users of AI summaries review and sign documents more quickly and to what extent contract creators retain or replace AI-generated fields, which should help the company continue to refine the AI.
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E-Commerce
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