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According to monitoring by 1M AI News, MiniMax recently uploaded the weights of its 229 billion parameter model M2.7 to Hugging Face, claiming it to be 'open source.' However, the license explicitly states that all commercial use is prohibited without written authorization from MiniMax. The definition of 'commercial use' is broad, encompassing paid services, commercial APIs, and any commercial purpose for fine-tuned versions, which prevents third-party platforms like OpenRouter from deploying M2.7 for external inference services. The license is marked as 'Modified-MIT,' but the true MIT license imposes no restrictions on usage. Previously, M2 and M2.5 were under standard MIT licenses, making M2.7 the first instance of MiniMax tightening its terms. The open source community has expressed strong dissatisfaction with this move. A popular post in the Hugging Face discussion forum states that M2.7 is 'proprietary code with viewable weights, not open source,' while a related Reddit thread titled 'MiniMax M2.7 is NOT open source - DOA License' echoes this sentiment. Developer JoeSmith245 compared the license terms to the now-discredited advertising clause in the BSD 3-clause license, pointing out its incompatibility with the GPL and labeling it as 'a junk release,' leading him to halt downloads in favor of Qwen 3.5. Submission records from Hugging Face also indicate that approximately six hours before the weights went live, a version of the license allowing commercial use briefly existed in the repository before being replaced with the current non-commercial version. The AI industry has long conflated the concepts of 'public weights' and 'open source,' but there is a fundamental difference: public weights merely allow visibility of model parameters, while open source means freedom to use and commercialize. MiniMax went public in January this year on the Hong Kong Stock Exchange, with an IPO valuation of approximately $6.5 billion, and its current market capitalization is around $38 billion. The open source strategies of M2 and M2.5 helped it establish a reputation in the developer community, while the tightening of licenses for M2.7 is a common path for publicly traded companies to convert developer traffic into API revenue. Zhizhu AI's GLM-5 Turbo has also gone closed source, with leading Chinese AI companies collectively shifting from open to closed models. However, the cost of restrictive licenses is evident: Google's Gemma 3 has seen adoption rates far below its performance level, forcing Gemma 4 to revert to the Apache license.

[MiniMax M2.7 Claims to be Open Source but Prohibits Commercial Use, Sparking Strong Discontent in the Open Source Community]According to monitoring by 1M AI News, MiniMax recently uploaded the weights of its 229 billion parameter model M2.7 to Hugging Face, claiming it to be 'open source.' However, the license explicitly states that all commercial use is prohibited without written authorization from MiniMax. The definition of 'commercial use' is broad, encompassing paid services, commercial APIs, and any commercial purpose for fine-tuned versions, which prevents third-party platforms like OpenRouter from deploying M2.7 for external inference services. The license is marked as 'Modified-MIT,' but the true MIT license imposes no restrictions on usage. Previously, M2 and M2.5 were under standard MIT licenses, making M2.7 the first instance of MiniMax tightening its terms. The open source community has expressed strong dissatisfaction with this move. A popular post in the Hugging Face discussion forum states that M2.7 is 'proprietary code with viewable weights, not open source,' while a related Reddit thread titled 'MiniMax M2.7 is NOT open source - DOA License' echoes this sentiment. Developer JoeSmith245 compared the license terms to the now-discredited advertising clause in the BSD 3-clause license, pointing out its incompatibility with the GPL and labeling it as 'a junk release,' leading him to halt downloads in favor of Qwen 3.5. Submission records from Hugging Face also indicate that approximately six hours before the weights went live, a version of the license allowing commercial use briefly existed in the repository before being replaced with the current non-commercial version. The AI industry has long conflated the concepts of 'public weights' and 'open source,' but there is a fundamental difference: public weights merely allow visibility of model parameters, while open source means freedom to use and commercialize. MiniMax went public in January this year on the Hong Kong Stock Exchange, with an IPO valuation of approximately $6.5 billion, and its current market capitalization is around $38 billion. The open source strategies of M2 and M2.5 helped it establish a reputation in the developer community, while the tightening of licenses for M2.7 is a common path for publicly traded companies to convert developer traffic into API revenue. Zhizhu AI's GLM-5 Turbo has also gone closed source, with leading Chinese AI companies collectively shifting from open to closed models. However, the cost of restrictive licenses is evident: Google's Gemma 3 has seen adoption rates far below its performance level, forcing Gemma 4 to revert to the Apache license.

MiniMax M2.7 Claims to be Open Source but Prohibits Commercial Use, Sparking Strong Discontent in the Open Source Community

On April 13, U.S. President Trump proposed a maritime blockade of the Strait of Hormuz to compel Iran to make concessions in negotiations. The U.S. Central Command stated that the blockade would target vessels entering and exiting Iranian ports, with a set start date. Several security and military experts pointed out that a maritime blockade is essentially an act of war, requiring substantial naval forces for long-term maintenance and lacking a clear exit strategy, making execution difficult and its sustainability questionable. Dana Stroul noted that this operation would be hard to accomplish alone and may be difficult to sustain in the medium to long term. Analysts believe this move could provoke reciprocal retaliation from Iran. Former U.S. Navy Chief of Operations Gary Roughead warned that Iran might attack Gulf shipping or U.S. military infrastructure in the Middle East, increasing the risk of further escalation in regional conflict. Additionally, the blockade faces complex real-world issues during execution, including whether to intercept or even sink third-country oil tankers and how to handle energy transportation involving U.S. allies. Mark Warner also questioned the practical effectiveness of this strategy, pointing out that Iran could still counter with mines or asymmetric means. The Strait of Hormuz accounts for about 20% of global oil transport, and geopolitical risks have already driven oil prices significantly higher. The market generally believes that if tensions continue, it will further exacerbate inflationary pressures and disrupt global energy and financial markets.

[Trump Proposes Maritime Blockade of Strait of Hormuz to Pressure Iran, Experts Warn of Execution Challenges and Potential Retaliation Escalation]On April 13, U.S. President Trump proposed a maritime blockade of the Strait of Hormuz to compel Iran to make concessions in negotiations. The U.S. Central Command stated that the blockade would target vessels entering and exiting Iranian ports, with a set start date. Several security and military experts pointed out that a maritime blockade is essentially an act of war, requiring substantial naval forces for long-term maintenance and lacking a clear exit strategy, making execution difficult and its sustainability questionable. Dana Stroul noted that this operation would be hard to accomplish alone and may be difficult to sustain in the medium to long term. Analysts believe this move could provoke reciprocal retaliation from Iran. Former U.S. Navy Chief of Operations Gary Roughead warned that Iran might attack Gulf shipping or U.S. military infrastructure in the Middle East, increasing the risk of further escalation in regional conflict. Additionally, the blockade faces complex real-world issues during execution, including whether to intercept or even sink third-country oil tankers and how to handle energy transportation involving U.S. allies. Mark Warner also questioned the practical effectiveness of this strategy, pointing out that Iran could still counter with mines or asymmetric means. The Strait of Hormuz accounts for about 20% of global oil transport, and geopolitical risks have already driven oil prices significantly higher. The market generally believes that if tensions continue, it will further exacerbate inflationary pressures and disrupt global energy and financial markets.

Trump Proposes Maritime Blockade of Strait of Hormuz to Pressure Iran, Experts Warn of Execution Challenges and Potential Retaliation Escalation

On April 13, two supertankers laden with Iranian crude oil, which are under sanctions, anchored at a port in India. This may mark the first shipment of Iranian oil to India in nearly seven years, coinciding with increased U.S. efforts to curb Tehran's exports. Since 2019, India has not received Iranian crude due to U.S. sanctions. However, a waiver last month allowed the purchase of crude oil already in transit, aimed at mitigating the impact of the Middle East conflict on global supplies. As the world's third-largest crude oil importer, India subsequently announced plans to purchase oil from Iran and other countries to address the energy crisis. Vessel tracking data shows that the Felicity tanker anchored near Sikka in western India late Sunday. According to the Equasis database, this very large crude carrier belongs to the National Iranian Tanker Company and is loaded with 2 million barrels of Iranian oil, which was shipped from the oil export hub of Khark Island in mid-March. The Jaya tanker began signaling on Sunday, indicating it was anchored near Paradip on India's east coast. Before the U.S. and Israel began attacks on Iran, this vessel loaded 2 million barrels of crude oil from Khark Island in late February.

[Two Tankers Carrying Iranian Oil Anchor Near India]On April 13, two supertankers laden with Iranian crude oil, which are under sanctions, anchored at a port in India. This may mark the first shipment of Iranian oil to India in nearly seven years, coinciding with increased U.S. efforts to curb Tehran's exports. Since 2019, India has not received Iranian crude due to U.S. sanctions. However, a waiver last month allowed the purchase of crude oil already in transit, aimed at mitigating the impact of the Middle East conflict on global supplies. As the world's third-largest crude oil importer, India subsequently announced plans to purchase oil from Iran and other countries to address the energy crisis. Vessel tracking data shows that the Felicity tanker anchored near Sikka in western India late Sunday. According to the Equasis database, this very large crude carrier belongs to the National Iranian Tanker Company and is loaded with 2 million barrels of Iranian oil, which was shipped from the oil export hub of Khark Island in mid-March. The Jaya tanker began signaling on Sunday, indicating it was anchored near Paradip on India's east coast. Before the U.S. and Israel began attacks on Iran, this vessel loaded 2 million barrels of crude oil from Khark Island in late February.

Two Tankers Carrying Iranian Oil Anchor Near India

On April 13, the collapse of negotiations between the United States and Iran, combined with potential blockade risks in the Strait of Hormuz, sparked market concerns over rising energy prices and a rebound in inflation, further weakening expectations for a rate cut by the Federal Reserve this year. Traders have now pushed back the timing of the next rate cut to mid-2027. Recent data shows that the U.S. Consumer Price Index (CPI) rose by 0.9% in March, the largest increase since 2022, pushing the yield on 10-year U.S. Treasuries above 4.3%, and further up to around 4.35% in the latest trading session. Meanwhile, the yield on Japanese 10-year government bonds has reached a new high since 1997, with yields on Australian and New Zealand government bonds also rising, putting overall pressure on the global bond market. Analysts generally believe that rising energy prices are creating a 'supply-side inflation shock,' and given the resilience in the labor market, there is a lack of urgency for the Federal Reserve to cut rates in the short term. Institutions such as PIMCO, Brandywine Global, and Natixis tend to maintain a wait-and-see approach, awaiting a clearer inflation trajectory. The market narrative has shifted from recession concerns to inflation dominance; if oil prices remain high, it may further extend the high-interest-rate environment and suppress the overall performance of financial assets.

[US-Iran Negotiations Collapse Raises Inflation Expectations: Rate Cut Bets Delayed, Global Bond Market Under Pressure]On April 13, the collapse of negotiations between the United States and Iran, combined with potential blockade risks in the Strait of Hormuz, sparked market concerns over rising energy prices and a rebound in inflation, further weakening expectations for a rate cut by the Federal Reserve this year. Traders have now pushed back the timing of the next rate cut to mid-2027. Recent data shows that the U.S. Consumer Price Index (CPI) rose by 0.9% in March, the largest increase since 2022, pushing the yield on 10-year U.S. Treasuries above 4.3%, and further up to around 4.35% in the latest trading session. Meanwhile, the yield on Japanese 10-year government bonds has reached a new high since 1997, with yields on Australian and New Zealand government bonds also rising, putting overall pressure on the global bond market. Analysts generally believe that rising energy prices are creating a 'supply-side inflation shock,' and given the resilience in the labor market, there is a lack of urgency for the Federal Reserve to cut rates in the short term. Institutions such as PIMCO, Brandywine Global, and Natixis tend to maintain a wait-and-see approach, awaiting a clearer inflation trajectory. The market narrative has shifted from recession concerns to inflation dominance; if oil prices remain high, it may further extend the high-interest-rate environment and suppress the overall performance of financial assets.

US-Iran Negotiations Collapse Raises Inflation Expectations: Rate Cut Bets Delayed, Global Bond Market Under Pressure

On April 13, Colossus reported that Hyperliquid founder Jeffrey Yan received a funding proposal based on an estimated valuation of around $1 billion, amounting to approximately $100 million, less than a year after the project's launch. However, after careful consideration, he ultimately chose to reject the investment terms. The report indicates that prior to and during the funding discussions, the team had been continuously self-funding operations, with the founder using personal funds each month to cover project costs. During the investor engagement period, Jeff communicated with several entrepreneurs and VCs about the nature and significance of fundraising but was never convinced that 'external capital could enhance its intrinsic value.' Ultimately, he informed the team on Monday that he would decline the funding proposal. Insiders described that team members managing funds were shocked by this decision, as several preparations had already been made around the financing. Jeff's core reasoning was that Hyperliquid is not a traditional company but rather an on-chain protocol that needs to maintain neutrality. He believed that introducing external equity capital could undermine the protocol's 'permissionless, neutral' positioning, conflicting with its long-term design goals. He previously stated that if Bitcoin had accepted VC funding in its early days, its 'narrative of neutrality' might have been weakened. Following this logic, he chose to maintain Hyperliquid's investor-free structure and continue supporting some operational expenses with personal funds. On January 28, 2024, he summarized the project's principles on social media: · No investors · No paid market makers · No fees charged to the development team (or the development team does not take fees) · No insiders (or privileged internal participants). This statement is also seen as a core note of Hyperliquid's 'extreme decentralization/decapitalization' approach.

[Hyperliquid Founder Rejected $1 Billion Valuation Funding Proposal, Sticking to 'No External Investment' Approach]On April 13, Colossus reported that Hyperliquid founder Jeffrey Yan received a funding proposal based on an estimated valuation of around $1 billion, amounting to approximately $100 million, less than a year after the project's launch. However, after careful consideration, he ultimately chose to reject the investment terms. The report indicates that prior to and during the funding discussions, the team had been continuously self-funding operations, with the founder using personal funds each month to cover project costs. During the investor engagement period, Jeff communicated with several entrepreneurs and VCs about the nature and significance of fundraising but was never convinced that 'external capital could enhance its intrinsic value.' Ultimately, he informed the team on Monday that he would decline the funding proposal. Insiders described that team members managing funds were shocked by this decision, as several preparations had already been made around the financing. Jeff's core reasoning was that Hyperliquid is not a traditional company but rather an on-chain protocol that needs to maintain neutrality. He believed that introducing external equity capital could undermine the protocol's 'permissionless, neutral' positioning, conflicting with its long-term design goals. He previously stated that if Bitcoin had accepted VC funding in its early days, its 'narrative of neutrality' might have been weakened. Following this logic, he chose to maintain Hyperliquid's investor-free structure and continue supporting some operational expenses with personal funds. On January 28, 2024, he summarized the project's principles on social media: · No investors · No paid market makers · No fees charged to the development team (or the development team does not take fees) · No insiders (or privileged internal participants). This statement is also seen as a core note of Hyperliquid's 'extreme decentralization/decapitalization' approach.

Hyperliquid Founder Rejected $1 Billion Valuation Funding Proposal, Sticking to 'No External Investment' Approach

HTX data showed that XLM fell below 0.15  USDT and is now at 0.149994 USDT, with a decrease of 1.05% in 24H.

[XLM fell below 0.15  USDT] HTX data showed that XLM fell below 0.15  USDT and is now at 0.149994 USDT, with a decrease of 1.05% in 24H.

XLM fell below 0.15  USDT

On April 13, President Trump announced that the United States will block ships entering and exiting Iranian ports at 10 AM Eastern Time on April 13. (Jin Shi)

[Trump: U.S. to Block Ships Entering and Exiting Iranian Ports on April 13 at 10 AM ET]On April 13, President Trump announced that the United States will block ships entering and exiting Iranian ports at 10 AM Eastern Time on April 13. (Jin Shi)

Trump: U.S. to Block Ships Entering and Exiting Iranian Ports on April 13 at 10 AM ET

On April 13, the Israeli Prime Minister's Office announced on the 12th that Prime Minister Netanyahu has appointed his current military secretary, Ronen Gofman, as the next head of the Israeli Intelligence and Special Operations Agency (Mossad). The Prime Minister's Office stated that Gofman's term will last for five years, and he will succeed the current Mossad director, David Barnea, whose term ends in June.

[Netanyahu Appoints New Head of Mossad]On April 13, the Israeli Prime Minister's Office announced on the 12th that Prime Minister Netanyahu has appointed his current military secretary, Ronen Gofman, as the next head of the Israeli Intelligence and Special Operations Agency (Mossad). The Prime Minister's Office stated that Gofman's term will last for five years, and he will succeed the current Mossad director, David Barnea, whose term ends in June.

Netanyahu Appoints New Head of Mossad

On April 13, reports from the UK indicated that following U.S. President Trump's announcement on social media about a blockade of the Strait of Hormuz, all shipping traffic in the strait has ceased. The blockade has reportedly lasted for several hours. Details show that prior to Trump's announcement of the 'blockade order,' the number of tankers passing through the Strait of Hormuz had slightly increased on the 11th. Although shipping volume in the strait decreased on the 12th, passage was still possible. However, 'after Trump announced the maritime blockade, all traffic seems to have stopped,' with at least two vessels that were originally exiting the strait having turned back. (CCTV News)

[Shipping Traffic in the Strait of Hormuz Completely Disrupted Again]On April 13, reports from the UK indicated that following U.S. President Trump's announcement on social media about a blockade of the Strait of Hormuz, all shipping traffic in the strait has ceased. The blockade has reportedly lasted for several hours. Details show that prior to Trump's announcement of the 'blockade order,' the number of tankers passing through the Strait of Hormuz had slightly increased on the 11th. Although shipping volume in the strait decreased on the 12th, passage was still possible. However, 'after Trump announced the maritime blockade, all traffic seems to have stopped,' with at least two vessels that were originally exiting the strait having turned back. (CCTV News)

Shipping Traffic in the Strait of Hormuz Completely Disrupted Again

According to DailyHodl, VanEck CEO Jan van Eck says both gold and Bitcoin (BTC) are likely to take off on huge multi-year bull cycles.
In a new interview with CNBC, van Eck is forecasting that economic conditions are likely to increase the value of gold and Bitcoin which many investors view as a hedge against depreciating currencies.
He says that US banking troubles have already led to increasing value for both assets. And he says that the Federal Reserve will likely have to stop raising interest rates, which they have done to draw down inflation, due to the adverse impacts on the economy.

Detail

【VanEck CEO says gold and Bitcoin (BTC) in early stages of new multi-year bull cycles】According to DailyHodl, VanEck CEO Jan van Eck says both gold and Bitcoin (BTC) are likely to take off on huge multi-year bull cycles.
In a new interview with CNBC, van Eck is forecasting that economic conditions are likely to increase the value of gold and Bitcoin which many investors view as a hedge against depreciating currencies.
He says that US banking troubles have already led to increasing value for both assets. And he says that the Federal Reserve will likely have to stop raising interest rates, which they have done to draw down inflation, due to the adverse impacts on the economy.

VanEck CEO says gold and Bitcoin (BTC) in early stages of new multi-year bull cycles

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ETH fell below 2200  USDT

ETH broke through 2200  USDT

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VanEck CEO says gold and Bitcoin (BTC) in early stages of new multi-year bull cycles

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