Governance
Top tech news stories today: May 30, 2024
BlackRock is now the largest bitcoin ETF. Google is building an undersea cable from Africa. Nvidia’s market value surged close to Apple’s.
Headline
BlackRock is now the largest bitcoin ETF. Google is building an undersea cable from Africa. Nvidia’s market value surged close to Apple’s.
Context
Today’s tech news roundup: Genesis and Gemini returned over $2B in crypto. BlackRock’s IBIT is now the largest bitcoin ETF. AWS and Orange to offer cloud services in Morocco and Senegal. Google is building an undersea cable from Africa to Australia. Nvidia’s market value surged close to Apple’s. Monzo has raised an additional £150 million ($190 million), aiming to expand internationally, particularly in the U.S. This follows a £340 million ($425 million) raise two months prior, bringing its 2024 total to over $610 million. Monzo’s valuation now stands at £4.1 billion ($5.2 billion), with strong investor interest underscoring its growth potential. ( Tech Crunch )
Evidence
Pending intelligence enrichment.
Analysis
Genesis and Gemini have returned over $2 billion in crypto to 232,000 Gemini Earn customers, achieving a 242% return on locked assets since January 2023. Customers will receive 97% of repayments immediately, with the remainder within 12 months. ( Yahoo!Finance ) BlackRock’s spot bitcoin ETF, IBIT, has become the largest of its kind, surpassing Grayscale’s GBTC after a $102 million inflow. IBIT now holds nearly $20 billion worth of bitcoin. ( CoinDesk ) Erik Bais, a cherished member of the RIPE community, passed away on 28 May 2024. Serving as the Chair of the Address Policy Working Group since 2018, Erik’s contributions and mentorship were invaluable. ( RIPE NCC ) Data centers could consume up to 9% of U.S. electricity by 2030, more than doubling their current usage, according to the Electric Power Research Institute. The growth, driven by technologies like generative AI, could result in annual electricity use increasing between 3.7% and 15% through 2030. ( U.S. News )
Key Points
- Fintech
- 1. UK challenger bank Monzo nabs another $190M as US expansion beckons
- Crypto
- 2. Gemini customers get back over $2 billion in crypto from Genesis bankruptcy
- 3. BlackRock’s ETF becomes largest bitcoin fund in world, Bloomberg News reports
Actions
Pending intelligence enrichment.
