Cryptocurrency Live News & Updates : Optalysys Launches Innovative Blockchain Server
Optalysys has unveiled a groundbreaking server for blockchains that processes data securely without decryption, using 40% less energy than traditional GPU systems. In recent developments, Optalysys has introduced the LightLocker node, touted as the world's first server designed for blockchain applications that utilizes Fully Homomorphic Encryption (FHE). This innovation promises to enhance secure computing while significantly reducing energy consumption. Meanwhile, H100 Group is making strides in the cryptocurrency space, aiming to raise up to $79 million to bolster its bitcoin investment strategy, with Blockstream CEO Adam Back already contributing $15 million. In a notable shift, JPMorgan Chase has filed a trademark for its crypto platform, JPMD, indicating a deeper commitment to digital assets, despite CEO Jamie Dimon's previous skepticism. Additionally, Binance is actively engaging its community with the launch of its 24th Exclusive Token Generation Event featuring Bombie (BOMB) and a new two-phase claiming system for its Alpha Airdrops, set to begin on June 19, 2025. These developments reflect a growing trend of traditional finance embracing cryptocurrency, while innovative startups continue to push the boundaries of blockchain technology. Show more
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Time of India
2 days ago
- Time of India
Jamie Dimon on US-China technology arms race: It's a little embarrassing that we as a nation allowed 100 per cent of our Penicillin to come from China, and all ...
The ongoing dispute surrounding Nvidia's H20 AI chip sales to China has now intensified discussions about US-China technology arms race . A recent online report revealed that China is pursuing its major tech companies like Alibaba and ByteDance to reconsider their orders for Nvidia's H20 AI chips even as Chinese regulators have asked tech firms to explain why they are purchasing Nvidia's chips – which US President Donald Trump called 'obsolete' – instead of using domestic alternatives, suggesting that they want the Chinese tech companies to downsize their orders of H20 chips. Tired of too many ads? go ad free now Following this ongoing controversy, JPMorgan Chase CEO Jamie Dimon has issued a blunt warning about America's vulnerability in the global tech arms race. As reported by Financial Review, speaking at the Reagan National Economic Forum, Dimon called it 'a little embarrassing' that the U.S. allowed 100% of its penicillin supply and critical tech components to come from China. 'It's a little embarrassing that we as a nation allowed 100% of our penicillin to come from China, and all of our rare earths, and all of our advanced chipmaking tools,' Dimon said. 'We need to get our act together.' Jamie Dimon on the US–China tech race On being asked about the technology arms race between US and China, Dimon mentioned that it was an important miliarty issue as US cannot allow the sale of a chip to China which is designed to make powerful AI systems. Dimon also talked about the dependence of America on foreign nations for essential goods and technology. "It's a little embarrassing that we as a nation allowed 100 per cent of our Penicillin to come from China, and all of the rare earth [metals]," Dimon said. Talking about the ongoing chip dispute, Dimon added that 'You don't want to give them the chips which will make their supersonic missiles better.'Dimon also emphasised that America cannot stop China but can definitely slow them down. 'we should be specific about the things that protect us, and technology is a big piece of that,' said Dimon. Nvidia's China crisis Dimon's remarks come as a Nvidia's H20 chips, designed specifically for the Chinese market, face mounting scrutiny from Beijing. Tired of too many ads? go ad free now Recently, Chinese regulators summoned Nvidia representatives over alleged security risks related to Nvidia H20 AI chips . However, later Nvidia publicly asserted that its chips contain "no backdoors, no kill switches, and no spyware." In a blog post shared, Nvidia's chief security officer David Reber has vehemently denied the accusations of Chinese government alleging security risks in H20. 'There is no such thing as a 'good' secret backdoor — only dangerous vulnerabilities that need to be eliminated,' wrote Reber in the blog post. He argued that it would "undermine global digital infrastructure and fracture trust in US technology. Now the China is asking its tech companies to reconsider their orders for Nvidia's H20 AI chips. According to a report by Financial Times, the development comes as various Chinese companies have been told to avoid using these AI chips, particularly for government-related projects. This move complicates the recent export arrangement Nvidia made with the Trump administration, which allowed the chips to be sold in China under the condition of a revenue-sharing agreement.
India Today
01-08-2025
- India Today
Trump seeks pitches from bank chiefs on Fannie, Freddie stock offerings: Report
President Donald Trump is meeting with chiefs of major US banks to discuss monetising mortgage giants Fannie Mae and Freddie Mac, Bloomberg News reported on Thursday, citing people familiar with the matter. The pitches include a major public offering of stock, the report Mae and Freddie Mac have been under federal conservatorship since 2008 following the financial crisis, during which both entities became insolvent amid the subprime mortgage then, the companies have rebuilt capital reserves, repaid their treasury loans and returned to consistent profitability. Shares of both firms, currently traded on over-the-counter markets, have surged amid speculation over privatization first signaled intentions to take the companies public in May, posting on Truth Social that he was giving "very serious consideration" to the met with JPMorgan JPM.N CEO Jamie Dimon last week at the White House and is meeting Goldman Sachs GS.N CEO David Solomon on Thursday, the report of America BAC.N CEO Brian Moynihan is also expected to meet with Trump in the coming days, the report added, with talks likely to include other banking executives as is asking the CEOs to provide ideas on strategies for taking the organizations public and exploring how their banks might participate in the process, the report for BofA and Goldman declined to comment, while the White House did not immediately respond to a Reuters request for comment.- EndsWith inputs from ReutersMust Watch
Time of India
30-07-2025
- Time of India
Apple may have finally solved its credit card partner problem
File picture JPMorgan Chase is in advanced negotiations to become Apple's new credit card partner, potentially ending Goldman Sachs' troubled five-year relationship with the tech giant. The Wall Street Journal reported that Apple has identified JPMorgan as its preferred choice to replace Goldman Sachs in what could become one of the largest credit card deals in history. The potential agreement would transfer Apple's $20 billion credit card portfolio to the nation's largest bank, cementing JPMorgan's dominance in the credit card market while giving Apple access to a massive consumer banking network. Discussions between the companies have accelerated in recent months, though no final deal has been signed. Goldman Sachs exits consumer banking after mounting losses Goldman Sachs has been seeking to exit its Apple partnership since 2023, following billions in losses from its consumer banking ventures. The investment bank has lost approximately $3 billion on its platform solutions business through 2022, with the Apple Card contributing significantly to these losses. CEO David Solomon acknowledged the partnership could end before its 2030 expiration date. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Brain tumor has left my son feeling miserable; please help! Donate For Health Donate Now Undo The Apple Card's unique structure has created profitability challenges for Goldman Sachs. The card charges no late fees and offers generous cashback rewards, eliminating key revenue streams that traditional credit card issuers rely on. Additionally, 34% of Goldman's Apple Card balances belong to subprime borrowers with credit scores below 660, compared to just 15% at JPMorgan. Deal faces hurdles despite strategic value Several obstacles remain before the partnership can be finalized. The high concentration of subprime borrowers is affecting the price JPMorgan would pay to acquire the portfolio, according to the WSJ report. Goldman's Apple Card delinquency rate stands at roughly 4%, above the industry average of 3.05%. Apple previously explored partnerships with American Express, Capital One, Synchrony Financial, and Barclays before settling on JPMorgan as its preferred partner. The deal would strengthen JPMorgan's position against competitors like American Express and Capital One while providing Apple with a more stable banking partner for its financial services ambitions. If completed, the agreement would represent a significant victory for JPMorgan CEO Jamie Dimon's strategy of expanding across multiple banking sectors. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
