Sixteen years after the launch of Bitcoin, stablecoins have emerged as one of the vital compelling functions of blockchain expertise. Banks are reportedly “panicking” over stablecoins encroaching on their territory, whereas Fortune 500 corporations 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 a virtually $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 corporations are listening to stablecoins: Coinbase
Curiosity in stablecoins amongst Fortune 500 corporations has grown sharply over the previous yr, highlighting the expertise’s rising real-world utility, based on a brand new survey by Coinbase.
The crypto trade polled 100 executives from Fortune 500 corporations and located that almost 29% are both utilizing or exploring using stablecoins, up from simply 8% in 2024. This represents a greater than threefold enhance in a yr.
Executives cited quicker monetary transactions and decrease cost charges as the first drivers of curiosity. About 7% of respondents stated their corporations 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 buying a 49% stake in Scale AI, a data-labeling firm that helps a number of AI functions, based on experiences from The Info and Bloomberg.
The $14.8 billion deal additionally brings Scale AI CEO Alexandr Wang into Meta. Wang is ready to hitch Meta’s “superintelligence” crew, a gaggle of about 50 folks targeted on pursuing synthetic normal 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 agency 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 by way of Zelgor, a Netcapital portfolio firm, and is anticipated to boost Netcapital’s tokenization infrastructure.
Netcapital operates a totally digital capital markets platform that connects non-public corporations in search of to lift capital with buyers. 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 industrial paper providing on Ethereum, US funding large Guggenheim is increasing the product by way of a brand new partnership with Ripple.
By means of this collaboration, Guggenheim Treasury Providers — a subsidiary of Guggenheim — will supply its Treasury-backed fixed-income product on the XRP Ledger. Totally backed by US Treasurys, the product might finally be out there 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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