larry

Larry Fink, CEO of the world's largest asset management company BlackRock, stated in an interview with CNBC on Wednesday that if the United States implements "some kind of pause" on data center construction, it will plunge the U.S. economy into recession. He said, "A large part of our economy is built on such capital expenditure expansion." Data centers are buildings that house a large number of computers and provide computing power for artificial intelligence. Fink's remarks were in response to calls to halt data center construction due to concerns about environmental impacts.Fink dismissed concerns about data centers, stating that most fears are based on "misinformation," and emphasized that "data centers are not the problem." He also pointed out their demand for labor in construction, energy infrastructure, and AI computing hardware. A survey by the Pew Research Center shows that at least 49% of Americans believe data centers negatively impact the environment and the quality of life for surrounding residents. Moody's estimates that U.S. capital expenditure on data centers will reach $700 billion this year, accumulating between $2.4 trillion and $2.48 trillion by 2030, with the global total reaching $7 trillion by the end of this decade.Fink also warned about the government debt issue, stating that the U.S. fiscal deficit is having a serious impact, with national debt rising from $8 trillion in 2000 to $40 trillion in 2026, "an increase of $32 trillion over 26 years," causing a huge shock to credit demand and leading to larger government bond auction sizes. He believes that private capital needs to be unleashed to drive the U.S. economy to achieve 3% growth. BlackRock saw a net inflow of $205 billion in the third quarter, with revenue growth of 19%, adjusted earnings per share increasing by 38% year-on-year, and operating profit margin rising to 47.8%.

ChainCatcher news, The Block CEO Larry Cermak announced on social media that he has been promoted to president, and former Chief Risk Officer Kaleb Jessee has taken over as the new CEO.

ChainCatcher news, according to official sources, Sei Network DeFi head Larry delivered a keynote speech titled "The Fastest Parallelized EVM Layer 1" at the "OKX Web3 Night" event.Larry stated that Sei is committed to scaling the Ethereum Virtual Machine (EVM), aiming to achieve a throughput of 5 billion gas per second. Through parallel execution, rapid consensus, and optimized storage, Sei has built the highest-performing EVM in history. In the future, the EVM will be rebuilt from scratch, focusing on three main areas: consensus, storage, and execution. The Giga upgrade will further enhance Sei's performance by optimizing the consensus mechanism and increasing network throughput. After the upgrade, Sei's TPS (transactions per second) is expected to double to 10,000 TPS, meeting the needs of enterprise-level large-scale applications.According to Defillama data, Sei Network's TVL has grown by 85% over the past month, ranking first among all public chains. Notably, several high-growth projects have emerged within the Sei ecosystem, such as Yei Finance, Sailor Finance, and Silo. Among them, the leading DeFi protocol Yei Finance is leveraging Sei's high-performance public chain characteristics to create a full-chain liquidity market, integrating multi-chain lending and trading to provide on-chain users with a user experience comparable to CEX.

ChainCatcher news, The Block's Vice President Larry Cermak tweeted that he will be promoted to the position of CEO of The Block. Meanwhile, Wintermute's founder and CEO Evgeny Gaevoy is joining The Block's board.Larry Cermak stated that the current environment of the crypto market is very different from five years ago, and The Block needs to adjust to adapt more quickly to market fluctuations. His current goal is to guide The Block towards profitability, focusing on revenue generation and streamlining its workforce. The Block will continue to invest heavily in research, data, and news to ensure the provision of high-quality content. (source link)

ChainCatcher news, The Block's Vice President of Research Larry Cermak tweeted that according to the database of The Block, Nexo currently holds a total of $378 million across 19 wallets, of which $264 million is in NEXO tokens. The total amount held in non-NEXO assets across all EVM addresses is only $114 million. (Source link)

ChainCatcher news, according to Protos, Harvard University professor and former chief financial advisor to the Obama administration Larry Summers has stated that he left DCG a few months ago. Summers joined DCG as a senior advisor in 2016, a year after the company was founded.In November, DCG's website still listed Larry Summers as a member of the company's advisory board, but this information has since been removed from DCG's website. Summers' personal website was updated on Wednesday, removing all references to his six-and-a-half-year relationship with DCG. (Source link)