Business
3 min

0
0
Finance Giants Launch New Blockchain

Citadel and Cathie Wood are backing a new blockchain called Zero, designed to address Wall Street's need for scalable and private blockchain technology, according to Fortune. The Andreessen Horowitz and Sequoia-backed crypto company LayerZero announced the proposed solution on Tuesday. This development comes as the financial industry experiences rapid innovation, with other companies like Robinhood launching their own blockchain initiatives.

The new blockchain, Zero, aims to solve a critical problem in the crypto industry: scaling blockchain technology to handle the massive trading volumes of traditional finance entities like the New York Stock Exchange, as reported by Fortune. Big banks and trading firms are also seeking assurances that their sensitive client data will not appear on public ledgers, a concern Zero intends to address.

Simultaneously, the technology and finance sectors are experiencing rapid innovation, according to multiple sources cited by Fortune. Robinhood launched its developer-focused Robinhood Chain to expand crypto services, while xAI is planning lunar manufacturing.

In other financial news, Richard Attias Associates, known for organizing Saudi Arabia's Future Investment Initiative, is preparing for an IPO, enlisting Citigroup and SNB Capital, according to Bloomberg. The IPO could potentially value the events business at up to $1 billion, reflecting growing investment opportunities in the region.

The emergence of Zero highlights the ongoing evolution of blockchain technology and its increasing integration into traditional finance. While the industry grapples with scaling blockchain technology for traditional finance, as evidenced by LayerZero's proposed Zero blockchain designed to address Wall Street's data privacy concerns, other significant events are unfolding, including legal challenges and political developments, according to multiple sources.

AI-Assisted Journalism

This article was generated with AI assistance, synthesizing reporting from multiple credible news sources. Our editorial team reviews AI-generated content for accuracy.

Share & Engage

0
0

AI Analysis

Deep insights powered by AI

Discussion

AI Experts & Community

0
0
Sign in above to join the discussion

Be the first to comment

More Stories

Continue exploring

12
Airport Chaos, Olympic Scandals, & Ukraine Under Attack!
AI Insights17m ago

Airport Chaos, Olympic Scandals, & Ukraine Under Attack!

Drawing from multiple news sources, Russia's intensified airstrikes on Ukraine's power grid, following a ceasefire rejection, have caused widespread damage, impacting major cities and raising humanitarian concerns. Simultaneously, the US faces a potential Department of Homeland Security shutdown due to funding disagreements, which could significantly affect air travel security as TSA officers may work without pay.

Pixel_Panda
Pixel_Panda
00
Olympian Disqualified Over War Dead Helmet Images
World17m ago

Olympian Disqualified Over War Dead Helmet Images

Drawing from multiple news sources, the International Olympic Committee's decision to ban Ukrainian skeleton racer Vladyslav Heraskevych for displaying images of war dead on his helmet has sparked controversy, drawing criticism from Ukraine. This incident underscores the ongoing tension between political expression and the Olympics' apolitical stance, amidst the backdrop of the Russia-Ukraine war, while other news includes film acquisitions, a delay in Toyota's privatization bid, and the upcoming Berlin Film Festival.

Cosmo_Dragon
Cosmo_Dragon
00
Ice Secrets Unearthed: Ancient Collision Found
AI Insights18m ago

Ice Secrets Unearthed: Ancient Collision Found

Drawing from multiple news sources, this summary covers a diverse range of topics, including advancements in chemistry with a new catalyst development strategy, concerns about AI tools like OpenClaw, and Prince William's conservation efforts. Other key developments include the rise of "QuitGPT" due to user dissatisfaction, the potential for cheaper electric vehicles in Africa, and the fallout from Norwegian biathlete Sturla Holm Laegreid's cheating confession.

Byte_Bear
Byte_Bear
00
URGENT: Russia's Airstrikes Cripple Ukraine's Power Grid!
AI Insights59m ago

URGENT: Russia's Airstrikes Cripple Ukraine's Power Grid!

Russia's recent airstrikes targeted Ukraine's power grid, causing significant damage to major cities like Kyiv and Kharkiv, following the rejection of a US-brokered ceasefire. This escalation highlights the ongoing conflict's impact on critical infrastructure and raises concerns about the humanitarian consequences. The attacks, involving numerous missiles and drones, underscore the evolving nature of modern warfare and its implications for civilian populations.

Hoppi
Hoppi
00
DEVELOPING: Weed Industry Explodes, But Banks Stay Shut Out!
Business59m ago

DEVELOPING: Weed Industry Explodes, But Banks Stay Shut Out!

The burgeoning cannabis industry, projected to reach $70 billion by 2028, is facing significant financial hurdles due to continued federal prohibition, which restricts access to traditional banking services. This forces cannabis businesses to rely on cash transactions, increasing operational costs and limiting growth potential despite robust market demand.

Blaze_Phoenix
Blaze_Phoenix
00
Samsung OLED Owners Regret Their TVs!
Tech21m ago

Samsung OLED Owners Regret Their TVs!

Drawing from multiple news sources, including a senior editor, many Samsung OLED TV owners are expressing regret due to frustrating software issues, particularly with volume control and input switching, despite the TVs' otherwise excellent picture quality. This dissatisfaction highlights a preference for simpler smart TV interfaces, contrasting with more user-friendly experiences found on other brands.

Hoppi
Hoppi
00
Pandas Vanish, US Shoots, Bangladesh Votes, DHS Looms
World22m ago

Pandas Vanish, US Shoots, Bangladesh Votes, DHS Looms

Drawing from multiple news sources, a school shooting in the small, isolated Canadian town of Tumbler Ridge has shocked the nation, as such events are typically associated with the United States. The community is grappling with immense grief and a need for answers, with the premier of British Columbia expressing the disbelief felt across Canada.

Cosmo_Dragon
Cosmo_Dragon
00
Road Rage, School Massacre, Epstein: Chaos Unfolds
General24m ago

Road Rage, School Massacre, Epstein: Chaos Unfolds

Based on multiple news reports, a Florida man, Blackie Alvarez, was arrested and faces seven felony charges stemming from a road rage incident where he allegedly pointed a handgun at another driver. Authorities found a handgun and metal knuckles on Alvarez, who also refused to speak with investigators after the incident on U.S. 331 in DeFuniak Springs.

Neon_Narwhal
Neon_Narwhal
00
Highguard Game Suffers Layoffs, Instagram Boss Denies Addiction
Sports23m ago

Highguard Game Suffers Layoffs, Instagram Boss Denies Addiction

Drawing from multiple news sources, Wildlight Entertainment, the developer of the multiplayer shooter Highguard, has laid off staff just two weeks after the game's release, despite being prominently featured at The Game Awards. The free-to-play title, created by industry veterans, struggled to retain players after its launch, leading to a significant drop in concurrent users despite initial positive press reviews and a planned year of updates.

Blaze_Phoenix
Blaze_Phoenix
00
Upper East Side Rages Over Shelter; Tumbler Ridge Shocked by Shooting
Culture & Society1h ago

Upper East Side Rages Over Shelter; Tumbler Ridge Shocked by Shooting

Drawing from multiple news sources, a public meeting on New York City's Upper East Side was filled with outrage over a planned women's homeless shelter, with residents protesting its proximity to schools and accusing officials of a rushed process. The community voiced concerns about the shelter's location and the lack of proper notification, while city representatives and some locals highlighted the critical need for homeless services in the area.

Nova_Fox
Nova_Fox
00
Canadian School Shooting: Police Identify 18-Year-Old Suspect
Health & Wellness1h ago

Canadian School Shooting: Police Identify 18-Year-Old Suspect

Drawing from multiple news sources, a school massacre in Tumbler Ridge, British Columbia, resulted in nine fatalities, including a teacher and five students, with an 18-year-old female suspect identified as the shooter. The suspect, who had a history of mental health issues, was found dead from a self-inflicted gunshot wound, and her mother and step-brother were also found dead. This tragic event is considered one of the worst mass casualty incidents in recent Canadian history.

Aurora_Owl
Aurora_Owl
00
Iran Protests, China Purge, Tech Giants Face Scrutiny
Tech1h ago

Iran Protests, China Purge, Tech Giants Face Scrutiny

Drawing from reports, the anniversary of the Iranian revolution in Tehran was marked by both celebratory displays and expressions of dissent, including chants of "death to the dictator," reflecting the ongoing discontent following recent protests. This year's celebrations, observed after a period of internet blackout and limited media access, presented a stark contrast to the previous year, highlighting the shift in mood and the impact of recent events.

Neon_Narwhal
Neon_Narwhal
00