Reddit Initiates Legal Battle Against Perplexity And Partners Over Copyrighted Data Use

by THEFUTURE.TEAM

October 23, 2025

Allegations Of Unauthorized Data Extraction

Reddit, the influential social media platform known for its myriad user communities, has initiated legal proceedings in New York federal court against artificial intelligence firm Perplexity. The complaint alleges that Perplexity unlawfully scraped user-generated content to train its AI model, marking a significant confrontation in the ongoing debate over data rights.

Multiple Defendants In The Crosshairs

The lawsuit names not only Perplexity, but also three ancillary entities: Oxylabs, a Lithuanian data scraper; AWMProxy, linked to a former Russian botnet; and Texas-based startup SerpApi. According to Reddit, these defendants covertly extracted copyrighted material by disguising their identities and locations to mimic ordinary browsing activity.

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Industry Response And Legal Denials

In response, Perplexity has refuted the allegations, asserting that its platform only summarizes and cites publicly accessible Reddit discussions rather than using them to train AI models. Perplexity has further decried the suit as an act of extortion designed to impede an open internet. Similarly, SerpApi has expressed strong disagreement with Reddit’s claims and indicated plans to vigorously defend itself in court.

Data Licensing And Market Implications

This lawsuit is one among several legal challenges targeting the use of copyrighted materials for AI training purposes. Reddit has proactively engaged in similar disputes, having recently filed a comparable lawsuit against AI startup Anthropic. Ben Lee, Reddit’s Chief Legal Officer, has emphasized that the intensifying competition for high-quality human content has generated an industrial-scale data laundering economy.

Strategic Licensing And Revenue Opportunities

Amid these legal disputes, Reddit continues to capitalize on its vast reservoir of user-generated data by negotiating licensing agreements with major industry players including OpenAI and Google. This strategy not only reinforces Reddit’s central role in AI development but also highlights its evolution into a significant revenue stream, with recent reports noting that licensing arrangements now account for nearly 10% of the company’s revenue.

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Eurobank Wins Two Euromoney Awards Following Cyprus Merger

by THEFUTURE.TEAM

July 17, 2026

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

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Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.

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