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, we look at how Texan miners are powering down their rigs to free up electricity, as temperatures plunge. Stock markets have fallen as inflation remains stubbornly high. AI is close to mastering a new discipline as DeepMind makes progress with geometric challenges. And professional negotiators are increasingly being called in to help deal with ransomware attacks.

Mastering Negotiations With Cyber Criminals

Euler Finance's recovery of $197 million from a cyber theft illustrates a growing trend of victims using professional negotiators for ransomware attacks. These experts use tailored strategies to minimize costs or bypass ransom, amid risks of perpetuating cyber crime and regulatory breaches.

Mastering Negotiations With Cyber Criminals
Victims of cyber theft and ransomware increasingly seek professional negotiators to mitigate or avoid ransoms.

Global Stocks Tumble

Global markets retreated following ECB President Lagarde's hint at a later summer rate cut and the UK's first inflation rise in 10 months. Stocks in Europe and the US fell, with bond yields rising, as investors reassessed the likelihood of early rate cuts by central banks.

Global Stocks Tumble
Global stocks decline as ECB and UK inflation data prompt reevaluation of imminent rate cut expectations.

Investors Rally To Acquire Start-Up Stakes At Discounts

Investment firms are amassing funds to buy stakes in tech start-ups at discounts, exploiting a secondary market boom. Key players like Lexington Partners are raising substantial funds, indicating a rebound in trading and a shift in market dynamics, with investors seizing opportunities for discounted purchases.

Investors Rally To Acquire Start-Up Stakes At Discounts
Secondary market for tech start-up shares sees a surge, with firms like Lexington Partners raising $23 billion funds.

DeepMind's AI Nears Human-Level Geometry Skills

Google DeepMind's AlphaGeometry has achieved a breakthrough in AI's ability to solve complex geometry, closely matching human performance in the International Mathematical Olympiad. This advancement signifies a step toward developing Artificial General Intelligence, combining language learning with deductive reasoning.

DeepMind’s AI Nears Human-Level Geometry Skills
Google’s DeepMind AI, AlphaGeometry, nearly matches top students in solving complex math Olympiad problems.

JPMorgan Battles Rising Tide Of Cyber Attacks

JPMorgan Chase is facing an increase in sophisticated cyber attacks. The bank invests $15 billion yearly in technology and employs 62,000 technologists to combat this threat, outstripping tech giants' engineering teams. The rise in AI-driven cybercrime and geopolitical tensions contributes to the heightened security challenges.

JPMorgan Battles Rising Tide Of Cyber Attacks
JPMorgan confronts a surge in cyber attacks, investing heavily in technology and workforce to bolster security.

Hash Crashes As Miners Feel The Chill

Bitcoin network hashrate has declined by up to a third over the past week, as plunging temperatures have prompted miners to turn off their rigs to increase available power supply—demonstrating, in the process, Bitcoin's critical use case in helping balance energy grids.

Hash Crashes As Miners Feel The Chill
Hashrate may have fallen by as much as a third from its peak, by some measures.

Coinbase Fights For SEC Case Dismissal

While the court may not fully side with the exchange, at the least the case highlights the lack of clarity and the regulator's overreach in attempting to lay claim to the digital asset space.

Coinbase Fights For SEC Case Dismissal
Judge Failla was skeptical of some of the SEC’s key arguements.

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