😳 CrowdStrike’s Global IT Outage Apology: $10 Gift Card

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Hey Waivly Crew! 🌊 In today’s edition, CrowdStrike apologizes for last week’s global computer crash with $10 Uber Eats gift cards. Meanwhile, Proton steps into crypto with its new product: Proton Wallet.

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Here’s what’s on the horizon today:

• Tesla's profits sank sharply in the second quarter of 2024

• CrowdStrike offers a $10 apology gift card to partners

• Proton introduces a self-custody Bitcoin wallet

• Spot Ether ETFs generate $937M volume in 2nd trading day

Let’s dive in!

STORIES MAKING A SPLASH

^_FINANCE
Tesla's profits sank sharply in the second quarter of 2024

Tesla’s Q2 earnings report revealed a $1.48 billion net income on $25.5 billion in revenue, marking a 2% revenue increase from last year but a steep 45% drop in net income. Gross margins, a key focus for investors, remained under pressure, with a slight improvement to 18% but still down from the previous year.

The company highlighted a positive trend in global EV adoption, attributing it to better customer sentiment. Despite this, Tesla's vehicle production and deliveries were down compared to last year, though they exceeded Wall Street's expectations.

This quarter has been eventful for Tesla, with significant moves including the abandonment and then recommitment to the "Model 2," delays in the robotaxi reveal, and dramatic shifts in staffing and technology scrutiny. Additionally, a judge overturned an earlier decision on Elon Musk’s compensation package, which shareholders have now approved.

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^_TECH
CrowdStrike offers a $10 apology gift card to partners

The firm behind the global IT outage that cost billions, disrupted 5% of world air traffic, and crippled NHS systems has issued $10 food vouchers as an apology. However, some recipients have reported the vouchers are invalid.

CrowdStrike's apology aimed to thank and address the extra workload caused by last Friday's outage, which affected millions of computers globally. The company acknowledged the inconvenience caused by the incident on July 19, but many found the gesture fell short when the gift cards failed to work.

The outage, described as one of the worst ever, was triggered by a faulty update to CrowdStrike's Falcon sensor software. Intended to enhance security, the update instead caused a “blue screen of death” on an estimated 8.5 million Microsoft Windows PCs, disrupting airports, hospitals, and businesses.

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WEB3 SPECIAL

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Proton introduces a self-custody Bitcoin wallet

Proton, known for its secure email, VPN, and storage services, is now venturing into cryptocurrency with its new product: Proton Wallet. This crypto wallet is designed to simplify Bitcoin transactions and currently supports only Bitcoin, with plans to include more currencies based on user feedback.

Proton Wallet is a self-custody wallet, meaning users retain control of their private keys. Unlike exchanges such as Coinbase or Binance, which manage private keys and transactions on behalf of users, Proton Wallet requires users to authorize transactions themselves using their keys.

Proton Wallet uses a recovery phrase for backup, allowing users to recover their assets if their device is lost. As a self-custody solution, Proton can't access users' assets, offering a more secure alternative to centralized exchanges. Open source and audited, it ensures a robust level of security.

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Spot Ethereum ETFs generate $937M volume in 2nd trading day

On their second day, Ethereum ETFs saw nearly $1 billion in trading volume. Spot ether ETFs generated about $951 million on Wednesday, following a robust $1.054 billion debut on Tuesday.

The Grayscale Ethereum Trust (ETHE) led with $492 million, making up 52% of the total volume. It was followed by BlackRock's iShares Ethereum Trust (ETHA) with $256 million and the Fidelity Ethereum Fund (FETH) with $113 million. Despite $106.7 million in net inflows and over $10 billion in assets under management, Grayscale experienced $484.1 million in outflows.

Bloomberg Intelligence’s James Seyffart deemed the ETF launch a "smashing success" compared to typical ETF debuts. Meanwhile, spot Bitcoin ETFs faced $77.97 million in outflows, signaling a potential shift towards Ethereum ETFs, as noted by Stratos' Rennick Palley.

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THE WAVES

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More Stories Surfing The Web

🔍 Microsoft debuts AI-powered summaries in Bing

🚫 Reddit is now blocking major search engines and AI bots

📉 OpenAI could lose $5B this year and run out of cash in 12 month

📱 iPhone 17 Slim will reportedly have a single rear camera

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SAIL INTO A NEW CAREER

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