Crypto Biz: Meta’s AI bet, Fortune 500’s stablecoin push
Mark Zuckerberg bets $15 billion on an AI company as stablecoins win over Fortune 500 companies.
Sixteen years after the launch of Bitcoin, stablecoins have emerged as one of the most compelling applications of blockchain technology. Banks are reportedly “panicking” over stablecoins encroaching on their territory, while Fortune 500 companies are beginning to grasp their transformative potential.
Shifting from blockchain to AI, Meta Platforms is quietly assembling a “superintelligence” unit, led by Scale AI founder Alexandr Wang. This move follows reports that Mark Zuckerberg’s company acquired Scale in a nearly $15 billion all-cash deal.
In this week’s Crypto Biz, we explore the evolving landscape of stablecoins and the latest high-stakes moves in the crypto and AI sectors.
