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Pixel_Panda
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Citadel, Wood Back New Blockchain; Red Lobster Struggles

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, aiming to address the scalability and data privacy concerns of Wall Street.

The announcement comes as the crypto industry grapples with scaling technology to handle the massive trading volumes of traditional finance entities like the New York Stock Exchange, according to Fortune. Big banks and trading firms are also seeking assurances that sensitive client data will not appear on public blockchains like Ethereum or Solana. LayerZero's Zero blockchain is designed to address these concerns.

Meanwhile, Red Lobster is also making headlines. The seafood chain, which filed for bankruptcy and was forced to close dozens of restaurants, is undergoing a restructuring. According to Fortune, CEO Damola Adamolekun, who previously helped P.F. Chang's recover, plans to shrink the restaurant footprint and slim down menus. "I think this can be the greatest comeback in the history of the restaurant industry," Adamolekun told Fortune in a late 2025 CEO Playbook vodcast.

In other news, singer Chappell Roan left Casey Wasserman's talent agency due to his mention in the Epstein files, emphasizing accountability, according to multiple sources reported by Variety and Fortune. Novi Brown signed with Innovative Artists Entertainment, according to Variety and Fortune.

The entertainment industry is also seeing developments. The AR play "Ark," starring Sir Ian McKellen, is poised to revolutionize theater, according to Variety and Fortune. Gregg Araki's "Mysterious Skin" has undergone a 4K restoration, and the sequel "In a Violent Nature 2" will be introduced at the European Film Market, according to Variety.

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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