Connect with us

Business

Top BlackRock executive Mark Wiedman to depart

Published

on

Unlock the Editor’s Digest for free

Top BlackRock executive Mark Wiedman is departing, in a move that disrupts the asset manager’s planning for the eventual departure of founder Larry Fink, according to four people close to the company.

Wiedman had been widely discussed as a potential successor to Fink for more than a decade and had recently been one of the $11.5tn asset manager’s most prominent public faces as the head of its client business.

Advertisement

BlackRock’s board described him in as a regulatory filing last year as one of three “senior leaders who we believe will play critical roles in BlackRock’s future” as it granted him a special retention package.

However, Wiedman, who led the integration and rapid growth of BlackRock’s flagship index and exchange traded fund business, has opted not to wait around. His departure is expected to be announced very shortly, the people said. He is forfeiting $8mn in stock options, according to the proxy.

Wiedman’s departure comes after the world’s largest asset manager embarked on a $28bn acquisition spree last year to bulk up its footprint in the fast-growing and lucrative alternative assets sector. The strategic moves not only put pressure on Fink, 72, to personally oversee their success, but also brought in a clutch of high-powered and high-paid executives who need to be carefully managed.

Fink, who has led BlackRock since its 1988 founding, is very popular with investors and is among the most influential figures in finance. But analysts and some within the firm have begun expressing concerns whether the slow pace of succession planning will drive the next generation of top talent to start going elsewhere. BlackRock president Rob Kapito, 67, is also a founder of the firm.

Advertisement

BlackRock declined to comment.

Wiedman is leaving almost exactly a year after Salim Ramji, another executive who was also once touted as a potential leader. Ramji became chief executive of Vanguard, BlackRock’s chief rival in the US and the world’s second-largest asset manager. Several other lower-ranking executives have also left in the past few years to take leadership jobs at smaller firms, including Daniel Gamba to Northern Trust and Zach Buchwald to Russell Investments.

After Ramji left, the group touted its strong stable of current leaders, including Wiedman and two other executives who also received special option grants: chief operating officer Robert Goldstein and chief financial officer Martin Small.

“BlackRock is proud to have a record of our firm’s alumni going on to lead multiple investment management companies and financial institutions,” it has previously said.

Advertisement

A senior Wall Street figure with knowledge of the situation said “Larry [Fink] and Rob [Kapito] are not going anywhere. They just made a major acquisition and you have to see that through, [but] Wiedman is at an age where if he doesn’t make a move, he ages out of being a CEO.”

A lawyer by training, Wiedman joined BlackRock in 2004 after stints at the US Treasury and McKinsey. He started BlackRock’s financial markets advisory consulting arm, which helped central banks and government agencies dig through the rubble of the 2008 financial crisis.

Wiedman negotiated the 2009 purchase and integration of Barclays Global Investors, the deal widely seen as the most important in BlackRock’s history. He then headed up the resulting iShares business from 2011 to 2019 as it developed into a juggernaut in index and ETFs.

Advertisement

Keenly interested in talent development, Wiedman recruited or promoted many of BlackRock’s top executives, including Small and Rachel Lord, who heads the international business.

Source link

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Business

Rubio Encourages Vietnam to Address Trade Imbalances With US

Published

on


Secretary of State Marco Rubio encouraged Vietnam to address its trade imbalances with the US in a call with Foreign Minister Bui Thanh Son.

Source link

Continue Reading

Technology

Google Gemini is your new smart home butler

Published

on

Google Gemini is your new smart home butler

  • Google’s Gemini app now controls smart homes through a Google Home extension
  • Gemini can understand natural language to complete tasks
  • The aim is to make smart homes more intuitive and easier to manage

Google wants Gemini to control your smart home devices and has upgraded the Gemini app with a new Google Home extension to manage all of your connected devices the same way you’d ask the AI assistant to answer any other query. So if you have the Gemini app and devices controlled by Google Home, you can link Gemini to your Google Home account.

The extension links Gemini with your lights, thermostats, and any other smart home devices, but with the benefit of Gemini’s more flexible conversational ability. That means you could say, “It’s too bright in here,” and have Gemini dim the lights instead of needing to command setting the lights to 50% specifically. You can also manage multiple devices with more casual language. Rather than individually tweaking device settings, you can say, “Dim the living room lights, turn on the bedroom lamp, and lower the blinds.” Gemini can grasp the three commands for three sets of devices and act accordingly.

Source link

Advertisement
Continue Reading

CryptoCurrency

Bitcoin, XRP, Rollblock, and Solana

Published

on

Coins to watch for big gains

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Trump’s inauguration led to a boost in crypto prices, with Bitcoin, XRP, Rollblock, and Solana leading the surge.

Advertisement

Donald Trump’s inauguration triggered a crypto market surge, with Bitcoin, Solana, XRP, and Rollblock rallying strongly to the joy of ambitious investors. Trump’s crypto-friendly stance, with promises to create U.S. crypto stockpiles, and the appointment of a crypto “czar” has catalyzed massive market movement, creating numerous opportunities for investors to make big gains.

Rollblock keeps soaring higher

Rollblock is an online crypto casino that is taking the GambleFi space to a whole new level. Unlike its competitors, it incorporates blockchain technology into its offering, providing provably fair gaming to anyone who gets close enough to play its array of exquisite games.

Even though Rollblock is at presale, it already has a working product, which blows all other GambleFi projects out of the water. This is the reason its presale keeps soaring higher each day.

Currently priced at $0.047 in stage 9, the Rollblock presale has raised close to $10 million from the public. This demonstrates strong investor confidence, with the current price being a 300% increase from its debut price. Analysts have predicted an RBLK surge to $1 in due course, a development that would fetch early investors massive profits.

Advertisement

Bitcoin breaks records post-Trump inauguration

Following Donald Trump’s inauguration, Bitcoin surged to $109,114, the highest it has been in its entire existence. The daily trading volume also rose above $120 billion as investors, both traditional and retail, pocketed BTC.

Spot Bitcoin ETF inflows also approached $1 billion 24 hours after the inauguration, which further accelerated BTC’s momentum. With Trump expected to enact crypto-friendly policies in the coming weeks, BTC could still break new records.

XRP hits a new all-time high

In the week of Trump’s inauguration, XRP climbed nearly 40% to hit a high of $3.4. This took XRP’s market cap above $190 billion, taking it closer to Ethereum. The surge was fueled by general feelings that the SEC’s case against Ripple would soon be thrown out.

Advertisement

Once there’s a new positive development regarding this case, one can expect XRP to rally again. Crypto analysts believe a surge to $4 is very close, and once XRP is freed from SEC’s shackles, a surge to $10 could be on the cards.

Solana surge fueled by Trump token mania

A few days before his inauguration, Trump launched the TRUMP token on Solana. This token surged stupendously immediately after its launch, going from $1 to above $70.

It also boosted Solana’s price, with SOL hitting close to $300 in the aftermath of Trump’s inauguration. Solana is now among the top 5 biggest coins by market cap thanks to this development. A bullish SOL run is expected in the coming weeks, and smart investors are positioning themselves to take full advantage of it.

Conclusion

Donald Trump’s inauguration has injected life into the crypto market, sending BTC, SOL, XRP, and RBLK to break new price levels. For maximum profits, though, savvy investors are banking on RBLK. It is smaller than the other coins, has a low entry-level price, and it’s got a lot of room for growth. Analysts have predicted a 10x gain and as much as a 50x when it moons.

Advertisement

To learn more about Rollblock, visit their website or socials.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Advertisement

Source link

Continue Reading

Business

Top real estate CEO says California is now battling a ‘triple threat’ no one has seen before 

Published

on


However, President Donald Trump could become the “real estate developer in chief” that the state needs. Read More

Source link

Continue Reading

Technology

Audi’s lifted Q6 E-tron Off-Road concept is ready for winter driving

Published

on

Audi’s lifted Q6 E-tron Off-Road concept is ready for winter driving

Audi has revealed a new dual-motor electric off-road vehicle concept based on the Q6 E-tron that looks ready for a snowpocalypse. The automaker built a working prototype that lifts the vehicle by 6.3 inches and widens it by 9.8 inches, giving it a stance that wouldn’t be out of place if it appeared in Truck Country, USA.

Audi’s CEO Gernot Döllner calls the “Q6 E-Tron Off-road concept” a “reinterpretation of Quattro,” which is the company’s marketing term for its all-wheel-drive models.

The extra ride height is courtesy of four bespoke portal axles integrated into the wheel hub assemblies at the front and rear that Audi says increase torque at the wheel by 50 percent. Each axle is powered by an electric motor with a combined power output of 380kW and up to 9,883 lb ft of torque at its peak. That’s up 3,245 lb ft of torque from the normal Q6 E-tron, which is Audi’s first vehicle built on Volkswagen’s modular Premium Platform Electric (PPE) platform (also used in the new A6 E-tron and Porsche Macan EV).

The vehicle is designed to climb hills as steep as 45 degrees but the company did nerf the Q6’s top speed a bit down to 108 mph. Still, no one should drive that fast anyway in a vehicle lifted this high. This also makes the Off-road concept a much more realistic one compared to more sci-fi Audi concepts like the Activesphere coupe / pickup truck combo with a mixed reality cockpit or the truly apocalyptic all-terrain “AI:Trail” that has drones for headlights.

Advertisement

Audi’s Q6 E-tron Offroad concept will be featured at the FAT International Ice Race in Austria on February 1st. The company will also show it in action via its social media channels.

Source link

Continue Reading

CryptoCurrency

Why Remittix Is Considered To Be A Smarter Investment Than Ethereum and Ripple (XRP) In 2025

Published

on

Why Remittix Is Considered To Be A Smarter Investment Than Ethereum and Ripple (XRP) In 2025

Many crypto enthusiasts are looking for a smart crypto investment in 2025 that blends practical use with long-term growth. Some trust Ethereum for its large developer network, while others prefer Ripple for its ties to the banking sector. Yet an increasing number believe Remittix might be the best option for future gains. By streamlining cross-border payments, Remittix has gained a reputation for low fees and speedy transactions. In this article, we see how Ethereum, ripple, and Remittix compare, and why analysts expect Remittix to rise above the rest.

Ethereum and Ripple: Where They Stand

Right now, Ethereum (ETH) is priced near $3.21k, reflecting a -3.31% dip over the last day. Over a full month, Ethereum slipped by -5.95%, causing some investors to explore new opportunities. Meanwhile, Ripple (XRP) trades around $3.06, having dropped -2.96% in the past 7 days. Although Ripple partners with major financial institutions, ongoing regulatory questions slow its path to mass adoption. Both Ethereum and Ripple remain heavyweight projects, but their prices have faced headwinds.

Despite these dips, many still label Ethereum and Ripple as essential holdings in crypto. ETH fuels countless decentralized apps, while XRP aims to optimize global bank transfers. Even so, this popularity doesn’t guarantee they’ll remain a smart crypto investment in 2025. Newer coins offering direct solutions, such as Remittix, might gain a competitive edge if they keep fees and transaction times lower than either Ethereum or Ripple.

Remittix: A Practical Option for 2025

Remittix (RTX) is a token focused on cross-border remittances. Over the last month, Remittixsoared by +88%, thanks in part to an influx of new users. Unlike Ethereum, which sometimes sees high gas fees, and Ripple, which often targets large-scale finance, Remittix caters to ordinary people needing quick transfers. Many freelancers and small businesses praise Remittixfor letting them swap digital funds for local currency in under 24 hours.

Advertisement

By keeping fees low and speed high, Remittix delivers a real-world service that appeals to everyday users. Analysts predict RTX could jump another +40% if adoption continues. WhileETH and XRP remain integral to the crypto landscape, tokens like Remittix might soon surpass them in daily usage. Observers already call Remittix the smart crypto investment in 2025 because it addresses problems that older networks haven’t fully solved.

2025 Outlook: Why Remittix May Outperform

Looking ahead, Ethereum will likely keep evolving through upgrades, aiming to cut fees and boost speed. Ripple hopes improved regulations will help XRP thrive in bank-centered deals. But regular users may favor a straightforward tool like Remittix (RTX) if it stays cheaper and faster than either Ethereum or Ripple. Word-of-mouth could drive even more people toward Remittix, thanks to its easy, cost-effective transactions.

Investors seeking a smart crypto investment in 2025 often watch for direct use cases. If a platform fixes everyday money-transfer issues, it stands to grow steadily. This is the chief strength of Remittix: it puts real-world needs first, drawing both new and experienced traders. While ETH and XRP may retain loyal followings, many experts think Remittix has the potential to see broader adoption, making it a top contender in the years ahead.

Conclusion

Choosing between Ethereum, Ripple, and Remittix depends on your goals. Ethereum (ETH) powers numerous apps, and Ripple (XRP) partners with global banks. Yet Remittix (RTX)targets daily issues—like slow, pricey remittances—making it an ideal option for those who need practical solutions. If momentum continues, Remittix might outshine established projects by solving problems neither Ethereum nor Ripple can fully address.

Advertisement

Ready to explore Remittix further?

Join the Presale
Follow Remittix on Socials

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice. 

Source link

Advertisement
Continue Reading

Technology

In motion to dismiss, chatbot platform Character AI claims it is protected by the First Amendment

Published

on

Chatbot icon on the digital futuristic blue wavy background. 3d Illustration with bright colors and pixelated technology.

Character AI, a platform that lets users engage in roleplay with AI chatbots, has filed a motion to dismiss a case brought against it by the parent of a teen who committed suicide, allegedly after becoming hooked on the company’s technology.

In October, Megan Garcia filed a lawsuit against Character AI in the U.S. District Court for the Middle District of Florida, Orlando Division, over the death of her son, Sewell Setzer III. According to Garcia, her 14-year-old son developed an emotional attachment to a chatbot on Character AI, “Dany,” which he texted constantly — to the point where he began to pull away from the real world.

Following Setzer’s death, Character AI said it would roll out a number of new safety features, including improved detection, response, and intervention related to chats that violate its terms of service. But Garcia is fighting for additional guardrails, including changes that might result in chatbots on Character AI losing their ability to tell stories and personal anecdotes.

In the motion to dismiss, counsel for Character AI asserts the platform is protected against liability by the First Amendment, just as computer code is. The motion may not persuade a judge, and Character AI’s legal justifications may change as the case proceeds. But the motion possibly hints at early elements of Character AI’s defense.

Advertisement

“The First Amendment prohibits tort liability against media and technology companies arising from allegedly harmful speech, including speech allegedly resulting in suicide,” the filing reads. “The only difference between this case and those that have come before is that some of the speech here involves AI. But the context of the expressive speech — whether a conversation with an AI chatbot or an interaction with a video game character — does not change the First Amendment analysis.”

To be clear, Character AI’s counsel isn’t asserting the company’s First Amendment rights. Rather, the motion argues that Character AI’s users would have their First Amendment rights violated should the lawsuit against the platform succeed.

The motion doesn’t address whether Character AI might be held harmless under Section 230 of the Communications Decency Act, the federal safe-harbor law that protects social media and other online platforms from liability for third-party content. The law’s authors have implied that Section 230 doesn’t protect output from AI like Character AI’s chatbots, but it’s far from a settled legal matter.

Counsel for Character AI also claims that Garcia’s real intention is to “shut down” Character AI and prompt legislation regulating technologies like it. Should the plaintiffs be successful, it would have a “chilling effect” on both Character AI and the entire nascent generative AI industry, counsel for the platform says.

Advertisement

“Apart from counsel’s stated intention to ‘shut down’ Character AI, [their complaint] seeks drastic changes that would materially limit the nature and volume of speech on the platform,” the filing reads. “These changes would radically restrict the ability of Character AI’s millions of users to generate and participate in conversations with characters.”

The lawsuit, which also names Character AI corporate benefactor Alphabet as a defendant, is but one of several lawsuits that Character AI is facing relating to how minors interact with the AI-generated content on its platform. Other suits allege that Character AI exposed a 9-year-old to “hypersexualized content” and promoted self-harm to a 17-year-old user.

In December, Texas Attorney General Ken Paxton announced he was launching an investigation into Character AI and 14 other tech firms over alleged violations of the state’s online privacy and safety laws for children. “These investigations are a critical step toward ensuring that social media and AI companies comply with our laws designed to protect children from exploitation and harm,” said Paxton in a press release.

Character AI is part of a booming industry of AI companionship apps — the mental health effects of which are largely unstudied. Some experts have expressed concerns that these apps could exacerbate feelings of loneliness and anxiety.

Advertisement

Character AI, which was founded in 2021 by Google AI researcher Noam Shazeer, and which Google reportedly paid $2.7 billion to “reverse acquihire,” has claimed that it continues to take steps to improve safety and moderation. In December, the company rolled out new safety tools, a separate AI model for teens, blocks on sensitive content, and more prominent disclaimers notifying users that its AI characters are not real people.

Character AI has gone through a number of personnel changes after Shazeer and the company’s other co-founder, Daniel De Freitas, left for Google. The platform hired a former YouTube exec, Erin Teague, as chief product officer, and named Dominic Perella, who was Character AI’s general counsel, interim CEO.

Character AI recently began testing games on the web in an effort to boost user engagement and retention.

TechCrunch has an AI-focused newsletter! Sign up here to get it in your inbox every Wednesday.

Advertisement

Source link

Continue Reading

CryptoCurrency

Price analysis 1/24: BTC, ETH, XRP, SOL, BNB, DOGE, ADA, LINK, AVAX, XLM

Published

on

Bitcoin is holding firm above $100,000, indicating that every minor dip is being purchased in anticipation of new all-time highs.

Source link

Continue Reading

Business

How to respond to Trump 2.0

Published

on

Unlock the White House Watch newsletter for free

Donald Trump has started his second term as predicted: with a fusillade of executive orders, memos, vows, musings and overheated rhetoric. The world has had at least a year to brace itself for the return of the America First agenda to the White House. No one can say they are surprised by this approach, or by most of Trump’s initiatives — radical and divisive as some of them are. Even so, his full-throated unleashing of the animal spirits of American capitalism has unnerved some traditional allies. Now the world has to decide how to respond to the whirlwind that seems set to accompany, if not encapsulate, Trump’s second administration.

America, too, has a big question to answer. Much of the focus in the opening days of Trump’s new presidency has been on issues that secured his re-election, in particular reducing immigration and cutting back what his supporters call the “deep state”, otherwise known as the federal government. He is right to attend to the concerns of the voters who sent him back to the Oval Office. But how should Americans respond if, as his opponents fear, he indulges his baser instincts and starts undermining the pillars of its democracy? 

Advertisement

There is a simple answer to both questions: values in addition to interests. Trump’s withdrawal from the Paris climate accord cannot, for example, become an excuse for the EU to slow its decarbonisation agenda; it should, though, ease the regulatory burdens and simplify its rules.

On the domestic front, too, now is the time to pick the right fights. US courts should be prepared for a battle royal over Trump’s more controversial initiatives, such as his bid to end birthright citizenship, which is enshrined in the 14th amendment of the constitution.

Trump’s opening foray has underlined a widespread sense that an era has ended. It has met a wearied response from America’s allies, who see it as intensifying the threats to the multilateral order. But it is important to note that many elsewhere in the world view Trump more favourably and like the idea of a more inward-looking America. It is possible, too, that some of his initiatives may have desirable outcomes. It will take more than Trump’s threat of tougher sanctions on Russia to bring Vladimir Putin to the table to negotiate a fair peace deal in Ukraine. But the president’s blunt — and unexpected — warning this week was a step in the right direction, as well as a reminder of how he sees unpredictability as an asset.

More broadly, allies have to accept that some of Trump’s prescriptions may prove a much-needed call to action. Just as in his last term he prodded Nato’s members to spend more on defence, this time his backing for less regulation and bureaucracy and lower taxes will force EU leaders to confront with greater urgency the continent’s problem of competitiveness.

Advertisement

These are early days. The fact that Trump has not started a new trade war with China or Europe does not mean one will not be under way next week. Whatever unfolds, it is a time for cool heads. Anwar Ibrahim, Malaysia’s prime minister, told the Financial Times this week that he and other east Asian leaders thought that, after an initial period of turmoil, the global trading system would survive intact. We have to hope he is right.

Trump is now at the height of his powers, controlling both houses of Congress, with a conservative majority on the Supreme Court and with the following wind of re-election. At home and abroad, it is vital not to be distracted by the more performative elements of his agenda, to accept that sometimes he may be right, but most of all to stand up for what matters. The political capital of second terms can dissipate rapidly — if rashness and hubris prevail.

Source link

Advertisement
Continue Reading

CryptoCurrency

TRUMP and MELANIA cryptos spark controversy, Lightchain AI an option

Published

on

TRUMP and MELANIA cryptos spark controversy, Lightchain AI an option

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Lightchain AI emerges as an option amid the controversy surrounding TRUMP and MELANIA cryptocurrencies.

Advertisement

The launch of cryptocurrencies by Donald Trump and Melania Trump has stirred controversy, fueling debates about their impact on the market.

Amid this turbulence, Lightchain AI stands out as a promising option for investors seeking innovation and reliability. The project, now in its presale phase at $0.005625 per token, has already secured $12.3 million, reflecting strong market confidence.

With its advanced blockchain framework and integration of artificial intelligence, Lightchain AI aims to offer a transformative solution in the ever-evolving cryptocurrency landscape.

Controversy surrounding Trump and Melania’s cryptos

President Donald Trump and First Lady Melania Trump launching TRUMP and MELANIA meme coins has sparked significant controversy. Ethics experts are voicing concerns over potential conflicts of interest, as Trump-associated organizations reportedly hold substantial stakes in these cryptocurrencies.

Advertisement

Critics argue that the situation bears resemblance to a pump-and-dump scheme, where the value of the coins could be artificially inflated for profit.

The timing of the launch, coinciding with Trump’s entrance into the presidency, has intensified scrutiny regarding the propriety of using political popularity for monetary benefit.

Lightchain AI captures attention amid uncertainty

Amid market uncertainty, Lightchain AI emerges as a potentially stable option through its robust foundation, clear tokenomics, and transparent governance. 

Advertisement

The tokenomics ensures sustainability and fair distribution, with a total supply capped at 10 billion LCAI tokens. Key allocations include 40% for presale, 28.5% for staking rewards, 15% for liquidity pools, and smaller portions for marketing, treasury, and team incentives. This strategic structure balances ecosystem growth and long-term value.

Low latency further enhances its appeal, aiming to make real-time AI applications seamless. Optimized workflows and parallelized processing will enable task completion with minimal delays, even under high computational demands.

Transparency and governance ensure community trust through decentralized decision-making. Token holders will vote on proposals, fostering accountability. Together, these elements make Lightchain AI a promising project.

Conclusion

Amid the chaos stirred by Trump and Melania’s cryptocurrency ventures, Lightchain AI is emerging as a beacon of potential stability. With cutting-edge technology, solid tokenomics, and transparent governance, it’s setting a new standard for sustainable cryptos.

Advertisement

For more information on Lightchain AI, visit the website, whitepaper, X, or Telegram.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Advertisement

Source link

Continue Reading

Trending

Copyright © 2025 WordupNews