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Citadel & Cathie Wood Bet Big on New Finance Blockchain

Citadel and Cathie Wood are backing Zero, a new blockchain designed to meet the needs of traditional finance, according to Fortune. The Andreessen Horowitz and Sequoia-backed crypto company LayerZero announced the proposed solution on Tuesday. This development comes as the crypto industry grapples with scaling issues to handle the massive volume created by traditional finance entities like the New York Stock Exchange.

The new blockchain, Zero, aims to address concerns from big banks and trading firms regarding the security of sensitive client data. These firms are seeking assurances that their data will not appear on the public ledger of a blockchain like Ethereum or Solana, according to Fortune. While several blockchain companies have previously attempted to build trading infrastructure suitable for traditional finance, LayerZero's offering represents a new approach.

The financial world is also witnessing other significant developments. French President Macron is pushing for European financial integration, as reported by Fortune. Simultaneously, the entertainment industry is experiencing shifts, with singer Chappell Roan leaving her agency due to concerns about accountability, and Novi Brown signing with Innovative Artists, according to Variety and Fortune.

In the realm of mixed reality, the play "An Ark" is set to offer an immersive experience, as reported by The Verge. The play, produced by Tin Drum Theatre Company, utilizes augmented reality glasses to create an intimate, face-to-face encounter with actors like Sir Ian McKellen and Golda Rosheuvel at The Shed in New York City. This builds upon the company's previous experimental productions.

AI-Assisted Journalism

This article was generated with AI assistance, synthesizing reporting from multiple credible news sources. Our editorial team reviews AI-generated content for accuracy.

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