BTCFi Usage Low: 77% of Bitcoin Holders Unengaged, Survey Finds
Network News
Bitcoin DeFi Adoption Lag: A survey by GoMining reveals 77% of Bitcoin holders have not used BTC decentralized finance (DeFi) platforms. Only 10% tried it once or twice, while 8% use BTCFi for yield or lending. Despite interest in earning yield (73%) and accessing liquidity without selling (42%), trust issues deter users from allocating more than 20% of holdings to BTCFi.
Ethereum Fusaka Upgrade: Ethereum's Fusaka upgrade successfully tested on the Holesky network, moving closer to mainnet launch. Introduces PeerDAS to reduce costs for layer-2 networks and validators. Final testnet runs scheduled for October 14 and 28 before determining mainnet launch date.
DoubleZero Mainnet Launch: DoubleZero Foundation launches mainnet-beta to improve blockchain validator communication, reducing lag via dedicated fiber routes. Currently, 22% of Solana's staked SOL utilizes DoubleZero. Partners include Jump Crypto, Galaxy, RockawayX, and Jito.
Bee Maps Funding Round: Bee Maps raises $32M, led by Pantera Capital and others, to expand its decentralized mapping network powered by Hivemapper. Collaborates with Lyft and Volkswagen’s robotaxi program. Funding aims to enhance AI models, increase contributor incentives, and distribute more devices.
In Other News
KAIO Expands Tokenized Funds: KAIO, backed by Brevan Howard and Nomura Bank, introduces tokenized funds on Sei Network. This move highlights growing interest in tokenizing real-world assets like bonds and credit.
Yuma Executive Appointments: DCG subsidiary Yuma appoints Greg and Jeff Schvey as COO and CTO. Yuma focuses on decentralized AI development across the Bittensor network and plans to launch an asset management division.
Regulatory and Policy
BoE Stablecoin Exemptions: The Bank of England plans exemptions to proposed stablecoin limits after industry backlash. Waivers will be granted for firms holding large token amounts, like crypto exchanges, and allow stablecoin use in its Digital Securities Sandbox.
SEC Innovation Exemption: SEC Chair Paul Atkins aims to formalize an "innovation exemption" to support digital asset development in the US by late 2025 or early 2026, despite government shutdown constraints.
