Sixteen years after the launch of Bitcoin, stablecoins have emerged as some of the compelling functions of blockchain know-how. Banks are reportedly “panicking” over stablecoins encroaching on their territory, whereas Fortune 500 firms are starting to understand their transformative potential.
Shifting from blockchain to AI, Meta Platforms is quietly assembling a “superintelligence” unit, led by Scale AI founder Alexandr Wang. This transfer follows experiences that Mark Zuckerberg’s firm acquired Scale in an almost $15 billion all-cash deal.
On this week’s Crypto Biz, we discover the evolving panorama of stablecoins and the most recent high-stakes strikes within the crypto and AI sectors.
Fortune 500 firms are taking note of stablecoins: Coinbase
Curiosity in stablecoins amongst Fortune 500 firms has grown sharply over the previous yr, highlighting the know-how’s rising real-world utility, in line with a new survey by Coinbase.
The crypto trade polled 100 executives from Fortune 500 firms and located that almost 29% are both utilizing or exploring using stablecoins, up from simply 8% in 2024. This represents a greater than threefold improve in a yr.
Executives cited quicker monetary transactions and decrease fee charges as the first drivers of curiosity. About 7% of respondents stated their firms are already utilizing stablecoins.
Not each firm is embracing stablecoins. As Cointelegraph reported, the US banking foyer is especially involved about yield-bearing stablecoins disrupting their enterprise.
Zuckerberg scrambles to maintain Meta from falling behind in AI race
Meta Platforms’ struggles in AI prompted CEO Mark Zuckerberg to make a daring transfer by acquiring a 49% stake in Scale AI, a data-labeling firm that helps a number of AI functions, in line with experiences from The Data and Bloomberg.
The $14.8 billion deal additionally brings Scale AI CEO Alexandr Wang into Meta. Wang is about to affix Meta’s “superintelligence” staff, a bunch of about 50 folks centered on pursuing synthetic common intelligence.
As Bloomberg reported, Zuckerberg has grown pissed off with Meta’s sluggish progress in AI, regardless of plans to almost double capital expenditures this yr, a lot of which is earmarked for AI infrastructure growth.
Nasdaq fintech acquires crypto native protocol Mixie
Nasdaq-listed fintech firm Netcapital has acquired Web3 gaming platform Mixie for an undisclosed sum, doubtlessly marking the primary time a publicly traded firm has acquired a crypto-native protocol.
The deal was executed via Zelgor, a Netcapital portfolio firm, and is predicted to boost Netcapital’s tokenization infrastructure.
Netcapital operates a completely digital capital markets platform that connects non-public firms looking for to boost capital with traders. An organization spokesperson stated the acquisition enhances “synergies between Mixie’s tokenization capabilities and Netcapital’s browser-based safety providing.”
Netcapital is a nano-cap inventory with a complete market capitalization of lower than $10 million.
Guggenheim companions with Ripple to develop digital debt providing
Lower than a yr after launching its business paper providing on Ethereum, US investment giant Guggenheim is increasing the product via a brand new partnership with Ripple.
By way of this collaboration, Guggenheim Treasury Companies — a subsidiary of Guggenheim — will provide its Treasury-backed fixed-income product on the XRP Ledger. Absolutely backed by US Treasurys, the product may finally be obtainable for buy utilizing RLUSD, Ripple’s US dollar-pegged stablecoin.
As a part of the settlement, Ripple has invested $10 million into the asset.
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