Botanix Labs is closing its Bitcoin Layer 2 network after nearly four years because the demand for Bitcoin-based decentralized finance (DeFi) apps was too low to sustain operating costs. Despite technical successes like 100% uptime and processing 25 million transactions, most users treated Bitcoin as a store of value rather than actively using DeFi features, resulting in insufficient transaction fees. This highlights that Bitcoin remains primarily a value storage asset, with DeFi activity concentrated on other smart contract platforms and centralized exchanges. Botanix's closure raises questions about the viability of Bitcoin Layer 2 networks without token incentives.
Oil prices are rising sharply due to renewed US naval blockades on Iranian shipping and increased tensions in the Strait of Hormuz, a critical oil transit route. Brent crude is holding above $85 and WTI above $80, with forecasts suggesting WTI could ...
The US government announced it will impose a new 25% tariff on Brazilian ethanol starting next Wednesday, accusing Brazil of unfair trade practices. This tariff excludes major Brazilian exports like oil, beef, coffee, and aircraft parts. The move fol...
Alibaba and Baidu shares rose after Apple received approval from China's Cyberspace Administration to include Apple Intelligence, integrating Alibaba's Qwen AI model and Baidu's AI features into Apple devices in China. This partnership allows users t...
Ondo Finance has introduced the first tokenized stock representations backed by DTCC tokenized entitlements, joining major financial firms in a significant tokenization initiative. This move highlights Ondo's unique position in building infrastructur...
Leading Japanese companies, startups, and research institutions are developing specialized AI models using NVIDIA Nemotron open models to address Japan's unique language, industrial, and workforce challenges. These AI applications range from enterpri...
