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Fidelity Prepares To Unveil Its Own Stablecoin

2 months ago
According to the Financial Times, Fidelity Investments is in advanced stages of developing its own stablecoin. Binance reports: The Boston-based financial services giant plans for the token to serve as a form of digital cash, according to the report, which cites two people close to the matter. The token would form part of company's strategy to enter the tokenized government bonds market. Stablecoins are a cryptocurrency whose value is pegged to a real-world asset such as the U.S. dollar or gold. They provide a convenient way for crypto traders to preserve their fiat value without having to cash out of the market. The news emerges just days after Fidelity filed paperwork to register a blockchain-based version of its U.S. dollar money market fund. The company seeks to register an "OnChain" share class of its Treasury Digital Fund (FYHXX), which holds cash and U.S. Treasury securities and is available only to Fidelity's hedge fund and institutional clients. A Fidelity stablecoin could fill the role of cash in this fund. The report comes a day after World Liberty Financial, a crypto venture backed by Donald Trump and his family, launched a U.S. dollar-pegged stablecoin called USD1.

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Linux Kernel 6.14 Is a Big Leap Forward In Performance, Windows Compatibility

2 months ago
An anonymous reader quotes a report from ZDNet, written by Steven Vaughan-Nichols: Despite the minor delay, Linux 6.14 arrives packed with cutting-edge features and improvements to power upcoming Linux distributions, such as the forthcoming Ubuntu 25.04 and Fedora 42. The big news for desktop users is the improved NTSYNC driver, especially those who like to play Windows games or run Windows programs on Linux. This driver is designed to emulate Windows NT synchronization primitives. What that feature means for you and me is that it will significantly improve the performance of Windows programs running on Wine and Steam Play. [...] Gamers always want the best possible graphics performance, so they'll also be happy to see that Linux now supports recently launched AMD RDNA 4 graphics cards. This approach includes support for the AMD Radeon RX 9070 XT and RX 9070 graphics cards. Combine this support with the recently improved open-source RADV driver and AMD gamers should see the best speed yet on their gaming rigs. Of course, the release is not just for gamers. Linux 6.14 also includes several AMD and Intel processor enhancements. These boosts focus on power management, thermal control, and compute performance optimizations. These updates are expected to improve overall system efficiency and performance. This release also comes with the AMDXDNA driver, which provides official support for AMD's neural processing units based on the XDNA architecture. This integration enables efficient execution of AI workloads, such as convolutional neural networks and large language models, directly on supported AMD hardware. While Rust has faced some difficulties in recent months in Linux, more Rust programming language abstractions have been integrated into the kernel, laying the groundwork for future drivers written in Rust. [...] Besides drivers, Miguel Ojeda, Rust for Linux's lead developer, said recently that the introduction of the macro for smart pointers with Rust 1.84: derive(CoercePointee) is an "important milestone on the way to building a kernel that only uses stable Rust functions." This approach will also make integrating C and Rust code easier. We're getting much closer to Rust being grafted into Linux's tree. In addition, Linux 6.14 supports Qualcomm's latest Snapdragon 8 Elite mobile processor, enhancing performance and stability for devices powered by this chipset. That support means you can expect to see much faster Android-based smartphones later this year. This release includes a patch for the so-called GhostWrite vulnerability, which can be used to root some RISC-V processors. This fix will block such attacks. Additionally, Linux 6.14 includes improvements for the copy-on-write Btrfs file system/logical volume manager. These primarily read-balancing methods offer flexibility for different RAID hardware configurations and workloads. Additionally, support for uncached buffered I/O optimizes memory usage on systems with fast storage devices. Linux 6.14 is available for download here.

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Over 4 Million Gen Zers Are Jobless

2 months ago
Fortune reports that over 4 million Gen Zers are currently not in education, employment, or training (NEET), with experts blaming a broken educational system and "worthless degrees" for failing to deliver on promises of career readiness. From the report: While some Gen Zers may fall into this category because they are taking care of a family member, many have become frozen out of the increasingly tough job market where white-collar jobs are becoming seemingly out of reach. In the U.S., this translates to an estimated over 4.3 million young people not in school or work. Across the pond in the U.K., the situation is also only getting worse, with the number of NEET young people rising by over 100,000 in the last year alone. A British podcaster went so far as to call the situation a "catastrophe" -- and cast a broad-stroke blame on the education system. "In many cases, young people have been sent off to universities for worthless degrees which have produced nothing for them at all," the political commentator, journalist and author, Peter Hitchens slammed colleges last week. "And they would be much better off if they apprenticed to plumbers or electricians, they would be able to look forward to a much more abundant and satisfying life." With millions of Gen Zers waking up each day feeling left behind, there needs to be a "wake-up call" that includes educational and workplace partners stepping up, Jeff Bulanda, vice president at Jobs for the Future, tells Fortune.

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