On The Wire: Today's Top Stories In Finance & Tech

Your daily briefing of some of the most important stories from the crypto, finance, and tech space.

The daily news roundup from REX Wire

Welcome to your daily briefing, where we bring you stories from the forefront of finance, technology, and market analysis, sent directly to your inbox.

In today's roundup, the SEC is left shame-faced after its X/Twitter account was compromised and an early ETF approval message was posted. BlackRock, the world's largest asset manager, is laying off staff. Bitcoin's mempool is chock full. And we take a look at the role the new generation of water batteries is playing in supplying reliable, sustainable power.

Mempool Maxes Out

Bitcoin's mempool—the holding area for pending transactions—is more full than it has ever been before. Strangely, though, Ordinals don't seem to be to blame this time.

Mempool Maxes Out
Bitcoin’s mempool has never been so full - but this time, Ordinals don’t seem to be to blame.

SEC Account "Compromised" Due To Lack Of 2FA

The securities regulator showed a cringeworthy lack of awareness around security when their official account was accessed and a fake ETF confirmation post published.

SEC Account “Compromised” Due To Lack Of 2FA
The securities regulator was the victim of a security breach, which could have been prevented with basic safety measures.

Evaluating Water Batteries In Renewable Energy Storage

Iberdrola's €1.5 billion pumped storage plant in Portugal, functioning as a "water battery", demonstrates a significant shift in renewable energy storage. Capable of storing 21 GWh, enough to power 2.4 million homes for a day, it balances the grid's variability and showcases the economic potential of pumped hydro in the renewable sector.

Evaluating Water Batteries In Renewable Energy Storage
Portugal’s new “water battery” plant showcases how pumped storage can revolutionize renewable energy storage.

BlackRock Announces Significant Staff Reductions Amid Strategic Shift

BlackRock is laying off 600 employees, 3% of its workforce, to pivot resources towards growing areas like technology and ETFs. Despite these cuts, the company, managing $9.1 trillion, plans workforce expansion by end of 2024, reflecting the asset management industry's broader challenges and need for innovation.

BlackRock Announces Significant Staff Reductions Amid Strategic Shift
BlackRock plans to cut 600 staff as it refocuses on technology, ETFs, and private markets amid industry shifts.

Cloud giants including Google, Microsoft, and Amazon, are in the difficult position of needing to provide indemnities against legal action to attract business customers.

Web2 Cloud Corporations Fall Short On AI Copyright Protections
Amazon, Microsoft, and Google pledge to defend customers from IP issues, but their indemnities are narrow

BlackRock: The Big Read

Since its inception in 1988, BlackRock has emerged as the largest asset manager globally, with significant investments in over 4,970 companies and a pivotal role in major economies. The company manages over $9 trillion in assets, which raises questions about its enormous influence in global finance.

BlackRock: The Big Read
BlackRock manages over $9 trillion in assets, raising questions about its vast influence in global finance.

Introduction To Blockchain Programming Languages: Solidity

As the first and still most popular smart contract language, Solidity has established huge network effect across Ethereum L1 and other EVM platforms, despite the drawbacks that other languages have sought to address.

Introduction To Blockchain Programming Languages: Solidity
Solidity was the first smart contract language, and remains the most widely-used, despite some downsides.

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