It has been sixteen years since the birth of Bitcoin, a digital child that has grown into a formidable force, and now, stablecoins have emerged as one of the most compelling applications of blockchain technology. The banks, those venerable institutions of yore, are reportedly in a state of panic, their faces ashen with the fear of stablecoins encroaching upon their sacred territory. Meanwhile, the Fortune 500 companies, ever the pragmatists, are beginning to see the transformative potential of these digital tokens, much like a farmer spotting a fertile field in the midst of a barren landscape.
But let us not linger too long on the blockchain, for there is a new game afoot, one that involves the mysterious and often misunderstood realm of artificial intelligence. Meta Platforms, the company once known for connecting the world through social media, is now quietly assembling a “superintelligence” unit, led by the enigmatic Alexandr Wang, founder of Scale AI. This move follows reports that Mark Zuckerberg’s empire acquired Scale in a nearly $15 billion all-cash deal, a sum that would make even the most jaded financier raise an eyebrow. 🤑
In this week’s Crypto Biz, we delve into the evolving landscape of stablecoins and the latest high-stakes moves in the crypto and AI sectors, where the stakes are as high as the ambitions of those who dare to play the game.
Fortune 500 companies are paying attention to stablecoins: Coinbase
The interest in stablecoins among Fortune 500 companies has grown sharply over the past year, a testament to the technology’s increasing real-world utility, according to a new survey by Coinbase. The crypto exchange, ever the keen observer of the digital economy, polled 100 executives from Fortune 500 companies and found that nearly 29% are either using or exploring the use of stablecoins, up from a mere 8% in 2024. This represents a more than threefold increase in a single year, a growth rate that would make even the most optimistic entrepreneur blush. 🌱
Executives cited faster financial transactions and lower payment fees as the primary drivers of interest. About 7% of respondents said their companies are already using stablecoins, a small but significant number that hints at the potential for even greater adoption in the near future.
Not every company is embracing stablecoins with open arms. As CryptoMoon reported, the US banking lobby is particularly concerned about yield-bearing stablecoins disrupting their business, a sentiment that is as predictable as the sunrise. 🌅
Zuckerberg scrambles to keep Meta from falling behind in AI race
Meta Platforms’ struggles in the AI arena have prompted CEO Mark Zuckerberg to make a bold move, one that could either secure his company’s future or be remembered as a desperate gambit. According to reports from The Information and Bloomberg, Zuckerberg has acquired a 49% stake in Scale AI, a data-labeling company that supports several AI applications. The $14.8 billion deal also brings Scale AI CEO Alexandr Wang into Meta, where he is set to join the company’s “superintelligence” team, a group of about 50 people focused on pursuing artificial general intelligence.
As Bloomberg reported, Zuckerberg has grown increasingly frustrated with Meta’s slow progress in AI, despite plans to nearly double capital expenditures this year, much of which is earmarked for AI infrastructure development. The pressure is on, and the stakes are high, for in the world of technology, the only constant is change, and the only certainty is uncertainty. 🤔
Nasdaq fintech acquires crypto native protocol Mixie
Nasdaq-listed fintech firm Netcapital has acquired Web3 gaming platform Mixie for an undisclosed sum, a move that could mark the first time a publicly traded company has acquired a crypto-native protocol. The deal was executed through Zelgor, a Netcapital portfolio company, and is expected to enhance Netcapital’s tokenization infrastructure.
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2025-06-13 21:59