BitcoinWorld Scale AI Investment: Meta Makes Bold Move with $14.3B Stake, CEO Alexandr Wang Joins AI Team In the fast-paced world of artificial intelligence, strategic partnerships and investments are reshaping the landscape. A recent development that has captured significant attention is the confirmation of a major Meta Investment in the data-labeling powerhouse, Scale AI . Understanding the Scale AI Investment Details Scale AI , a leader in providing high-quality data for training large language models, has officially confirmed receiving a substantial investment from Meta. This investment values the startup at an impressive $29 billion. Reports circulating prior to the confirmation suggested that Meta invested approximately $14.3 billion, securing a 49% stake in the company. Meta itself confirmed the finalization of this strategic partnership, emphasizing a deeper collaboration in producing data crucial for their AI models. The funds from the Meta Investment are earmarked for a dual purpose: providing liquidity to existing investors and shareholders, and fueling the continued growth and expansion of Scale AI ‘s operations. Despite the significant stake acquired by Meta, Scale AI has stressed that it will maintain its status as an independent entity, continuing its work with various clients across the AI industry. Alexandr Wang’s Strategic Move to Meta Perhaps one of the most significant aspects of this announcement is the news regarding Alexandr Wang , the co-founder and CEO of Scale AI . Wang is stepping down from his leadership role at Scale AI to join Meta directly. His new position at Meta will focus on contributing to the company’s ambitious superintelligence efforts. While transitioning to Meta, Alexandr Wang will remain involved with Scale AI by serving as a director on its board, ensuring continuity and strategic guidance. Filling the interim CEO position at Scale AI will be Jason Droege, the company’s current chief strategy officer. This leadership change marks a new chapter for both companies, directly linking the expertise of Alexandr Wang with Meta’s internal AI Development teams. The Crucial Role of AI Data Labeling The core business of Scale AI revolves around AI Data Labeling and annotation. This process is fundamental to training the large language models that power much of today’s Generative AI technology. Leading AI labs, including OpenAI, have historically relied on companies like Scale AI to prepare the massive datasets required for developing advanced AI models. In recent times, the demand for high-quality data has led data annotation firms like Scale AI to hire highly skilled professionals, including PhD scientists and senior software engineers. These experts are crucial for generating the sophisticated, high-quality data needed by frontier AI labs pushing the boundaries of Generative AI and broader AI Development . Why This Matters for Meta’s AI Ambitions Meta’s substantial Meta Investment in Scale AI is widely seen as a strategic move to accelerate its own AI Development efforts. As competitors like Google, OpenAI, and Anthropic continue to innovate rapidly, Meta has been perceived by some as trailing in certain areas of AI model releases and talent retention. Reports indicate that Meta lost a percentage of its top AI talent to other labs last year, highlighting the competitive landscape. By deepening its partnership and securing a significant stake in Scale AI , Meta gains direct access to a critical resource for training advanced AI models. This ensures a reliable supply of high-quality data, which is a bottleneck for many companies in the AI race. Bringing Alexandr Wang onto their team further strengthens Meta’s internal AI expertise, potentially providing a significant boost to their superintelligence initiatives and overall AI Development strategy. Scale AI’s Future and Independence Despite the large Meta Investment and the departure of its founding CEO to Meta, Scale AI maintains that it will continue to operate independently. This independence is vital for its business model, which serves a wide range of clients across the AI ecosystem, many of whom are direct competitors to Meta. The investment is intended to strengthen Scale AI ‘s position in the market, allowing it to invest further in technology and talent. This move underscores the increasing value placed on the infrastructure layer of the AI industry, particularly the companies providing the foundational data services necessary for model training and Generative AI advancements. The previous funding round, where Scale AI raised $1 billion at a $13.8 billion valuation from investors including Amazon and Meta, demonstrates the consistent high interest and perceived value in the company’s core capabilities. In conclusion, the significant Meta Investment in Scale AI and the concurrent move of Alexandr Wang to Meta represent a major shift in the AI landscape. It highlights the strategic importance of AI Data Labeling and infrastructure for driving Generative AI and overall AI Development . This partnership is set to benefit both companies, providing Scale AI with resources for growth and Meta with enhanced capabilities and talent for its ambitious AI future. To learn more about the latest AI market trends, explore our article on key developments shaping AI models’ features. This post Scale AI Investment: Meta Makes Bold Move with $14.3B Stake, CEO Alexandr Wang Joins AI Team first appeared on BitcoinWorld and is written by Editorial Team
COINOTAG highlighted a recent technical analysis from crypto strategist @ali_charts, emphasizing that Bitcoin (BTC) must maintain a price level above $100,000 to preserve its current breakout momentum within the established
The company’s announcement follows confusion over a recent SEC filing and shares tumbling around 70% in after-hours trading on Thursday.
SharpLink Gaming, Inc. has made a landmark move by acquiring $463 million worth of Ethereum, positioning itself as the largest corporate holder of ETH after the Ethereum Foundation. This strategic
Though concerns about the Trump family’s connections to World Liberty Financial’s stablecoin shadowed debate on the GENIUS Act, the bill is closer to passing the Senate.
Aleksei Andriunin, founder and CEO of Gotbit, has been sentenced to 8 months imprisonment by the U.S. District Court for the District of Massachusetts for orchestrating crypto market manipulation and
BitcoinWorld Shocking Persistence: Huione Group Remains Active Despite Shutdown and FinCEN Ban Proposal In the ever-evolving world of cryptocurrency and online activity, news often moves fast. But what happens when an entity declares its closure, yet continues to operate behind the scenes? A recent report shines a spotlight on just such a case, involving the Cambodia-based Huione Group , a platform known to operate in the darker corners of the internet. Huione Group: A Darknet Entity Under Scrutiny The Huione Group has been identified as a significant player, particularly associated with darknet activities. Operating out of Cambodia, this entity gained notoriety for facilitating various online transactions, often outside the purview of traditional financial systems. Its connection to illicit activities has brought it under the watchful eye of international regulatory bodies and blockchain analysis firms alike. The platform recently made headlines when it reportedly announced its intention to shut down. However, the reality, as revealed by on-chain data, appears to be quite different, raising questions about the effectiveness of public declarations versus actual operational status. The Regulatory Hammer and Platform Bans Before the shutdown announcement, significant pressure was mounting on the Huione Group . A key development occurred on May 1st when the U.S. Treasury’s Financial Crimes Enforcement Network ( FinCEN ) took a decisive step. FinCEN proposed banning the Huione Group from the U.S. financial system entirely. The serious allegation behind this proposed ban was that Huione Group facilitated cryptocurrency laundering, specifically for the infamous Lazarus Group . Here’s a quick breakdown of the regulatory actions and their context: May 1st: FinCEN proposes banning Huione Group from the U.S. financial system. Allegation: Facilitating crypto laundering for the Lazarus Group. Lazarus Group: A state-sponsored hacking group reportedly linked to North Korea, known for sophisticated cyberattacks and large-scale cryptocurrency thefts. May 13th: Huione Group reportedly announces its shutdown. Concurrent Action: Telegram bans thousands of accounts related to Huione Group, impacting its public communication channels. These actions were clearly intended to disrupt Huione Group’s operations and cut off its access to the global financial infrastructure, particularly concerning cryptocurrency flows linked to entities like the Lazarus Group . Chainalysis Uncovers Persistent Activity Despite the public shutdown announcement on May 13th and the loss of communication channels following the Telegram ban, blockchain analysis firm Chainalysis has presented compelling evidence that the Huione Group remains operational. According to a recent report by Chainalysis , cited by Cointelegraph, the platform is still actively processing transactions. The scale of these transactions is significant, reportedly amounting to billions of dollars. What does this tell us? The Chainalysis findings indicate a resilient operation. Even with public announcements of closure and disruptions to their usual communication methods, the core function of the darknet marketplace appears largely unaffected. This highlights the challenges regulators face in truly dismantling such entities, as merely cutting off public-facing elements or making announcements may not impact the underlying infrastructure and operational flows, especially when dealing with sophisticated groups potentially linked to state actors like the Lazarus Group . Challenges in Combating Illicit Crypto Activity The case of the Huione Group underscores the ongoing challenges in the fight against illicit activity leveraging cryptocurrencies. While blockchain provides transparency through immutable ledgers, obfuscation techniques, mixers, and layered transactions make tracing funds complex. Entities operating as a darknet marketplace thrive on anonymity and often utilize sophisticated methods to evade detection and disruption. The fact that Huione Group can continue processing billions despite regulatory actions and public announcements shows: The difficulty in truly dismantling decentralized or semi-decentralized operations. The potential for these groups to operate outside traditional communication channels. The persistent demand for the services offered by such platforms, regardless of their legal status. This scenario reinforces the critical role played by blockchain intelligence firms like Chainalysis . Their ability to analyze on-chain data provides essential insights into the actual flow of funds and operational status of entities, cutting through public declarations and identifying ongoing risks. What Does This Mean for the Crypto Ecosystem? The continued activity of the Huione Group , particularly its alleged links to the Lazarus Group and crypto laundering, serves as a stark reminder of the risks associated with illicit finance within the cryptocurrency space. For users, businesses, and regulators, this means: Increased Scrutiny: Regulatory bodies like FinCEN will likely continue to enhance their focus on identifying and sanctioning entities involved in crypto-related financial crime. Importance of Compliance: Legitimate crypto businesses must maintain robust Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures to avoid inadvertently interacting with sanctioned entities or funds. Value of On-Chain Analysis: Tools and services provided by firms like Chainalysis are indispensable for tracking illicit flows and understanding the true operational status of suspicious entities. Ongoing Threat: State-sponsored groups and criminal organizations will continue to exploit vulnerabilities and use cryptocurrencies for illicit purposes, requiring constant vigilance. Conclusion: The Unseen Operations Persist The situation surrounding the Huione Group is a compelling example of how entities operating in the shadows can demonstrate surprising resilience against official pressure and public declarations. Despite announcing a shutdown and facing regulatory actions from bodies like FinCEN and platform bans from services like Telegram, the core operation, as revealed by Chainalysis , continues to facilitate billions in transactions. This highlights the complex and ongoing battle to curb illicit financial activity in the digital asset space, emphasizing the need for advanced tracing capabilities and persistent regulatory efforts to counter sophisticated actors like the Lazarus Group and dismantle persistent darknet marketplace operations. To learn more about the latest crypto market trends , explore our article on key developments shaping cryptocurrency regulations and their impact . This post Shocking Persistence: Huione Group Remains Active Despite Shutdown and FinCEN Ban Proposal first appeared on BitcoinWorld and is written by Editorial Team
Here we go again. Hot on the heels of Polkadot’s proposal to diversify into Bitcoin, Cardano (ADA-USD) co-founder Charles Hoskinson just floated hi...
Bitcoin (BTC) extended its losses for a third consecutive day, plunging to a low of $102,832 as markets turned bearish thanks to escalating tensions in the Middle East. Tensions flared up after Israel conducted preemptive strikes on Iranian military facilities, worsening market sentiment. Traders hopeful of a move past $111,000 were stunned as geopolitical realities meant bullish sentiment around BTC evaporated. The flagship cryptocurrency has rebounded to reclaim $105,000 but remains trading in the red. Bitcoin (BTC) Traders Prepare For Volatility Bitcoin (BTC) traders and holders are bracing for increased volatility after on-chain data revealed a steady decline in exchange and OTC balances, indicating a tightening supply as traders begin accumulating the asset. Retail investor activity is also subdued, making it an unusual backdrop for an asset pushing towards all-time highs. As demand grows, centralized exchanges have reported substantial declines in their Bitcoin balance. Balances have plunged over 14% since the beginning of 2025 to 2.5 million BTC , a level last seen in August 2022. A declining supply of Bitcoin on centralized exchanges typically indicates growing investor confidence as they move their assets into cold storage. However, this also reduces the liquid supply of the asset, leading to a spike in prices. Over-the-counter (OTC) Bitcoin numbers are also showing a drop in supply. While OTC desks operate by matching buyers and sellers, they rely on BTC reserves to facilitate quick and credible transactions. However, these reserves are also at historic lows, with CryptoQuant data revealing OTC addresses associated with miners have reported a 19% drop in Bitcoin balances since January. With exchange and OTC reserves drying up, the supply is shrinking rapidly. This could amplify price movements as demand for an increasingly scarce asset rises. Liquidations Rattle Crypto Bitcoin (BTC) slumped below $106,000 on Thursday as bearish sentiment intensified. The decline continued on Friday, falling to an intraday low of $102,832 before rebounding. Bitcoin’s sudden decline sent alarm bells ringing across crypto, with the mood gloomy as sellers hold a distinct advantage. The drop dragged the crypto market down as well, with its market cap plummeting to $3.24 trillion. A total of $645 million in long and short positions were wiped out in the past 24 hours, with $297 million tied to Bitcoin longs alone. Data from Coinglass highlighted a massive $201 million liquidation on a BTC /USDT trade. GameStop’s Bitcoin Bid Sends Shares Into Freefall GameStop’s plan to add more Bitcoin to its balance sheet by boosting its private convertible note offering to $2.25 billion sent its share tanking 22%. The move by the video game and consumer electronics retailer indicates a firm commitment to building its corporate Bitcoin treasury. The sale of the boosted convertible note offering is expected to conclude on Tuesday. GameStop expects to raise $2.23 billion from the offering or $2.68 billion if the purchasers exercise their right to purchase additional notes in full. The boosted offering is a $500 million increase from the initial $1.75 billion announced on Wednesday. The funding round comes after the retailer announced the purchase of 4,710 BTC , valued at around $513 million. The purchase came two months after the company announced plans to build a Bitcoin treasury. GameStop plans to use the funds raised from the offering for general corporate purposes, including investments consistent with GameStop’s investment policy, hinting at more Bitcoin purchases in the future. The video game retailer is currently the 11th largest corporate holder of Bitcoin. However, the company's shareholders are unhappy with the pivot towards Bitcoin, with the share price plunging 22% following the announcement. The firm's share price has struggled to maintain its upside momentum since it announced mixed earnings for the first quarter of 2025. GameStop reported a revenue of $732.4 million, slightly lower than the expected $754.2 million. Czech Government Faces No-confidence Vote After Bitcoin Scandal The Czech Republic's main opposition party has called for a No-confidence Vote against the ruling party, accusing it of corruption over a $45 million Bitcoin payment from a convicted criminal. Alena Schillerova, Vice Chair of the right-wing ANO Party, stated on X that her party felt there was no choice but to submit the no-confidence motion scheduled for Tuesday. The country's Justice Ministry announced on May 28 that it had sold almost 500 Bitcoin for 1 billion Czech koruna ($45 million) in an auction after receiving it from Tomas Jirikovsky. Jirikovsky ran an online black market and was convicted of embezzlement, drug trafficking, and weapons violations in 2017. The opposition has demanded a probe into the auction and the ministry's conduct. It has also asked for information about who sanctioned the transaction. They also alleged that the winners of the Bitcoin auction were demanding their funds back and wanted to know how they would be compensated. The Czech Justice Minister Pavel Blazek was forced to resign because of the scandal. However, he denied any wrongdoing, adding that he resigned to protect the government's reputation in an election year. Bitcoin (BTC) Price Analysis Bitcoin (BTC) extended its losses for a third consecutive day as escalating tensions in the Middle East plunged the markets into chaos. The flagship cryptocurrency surged past $110,000 at the beginning of the week, fueling speculations of a move past $111,000 and a new all-time high. However, global tensions flared after Israel launched preemptive strikes on Iran, targeting its military and nuclear facilities. As a result, BTC plunged below $105,000, falling to a low of $102,832. BTC’s sudden decline sent shockwaves through the market, dragging the broader crypto ecosystem down. As a result, the crypto market cap fell over 4% to $3.24 trillion. 10x Research discussed Bitcoin’s price action in a post on X, stating, “Bitcoin Just Lost Its Breakout — Here’s the Support Level That Matters Now. Bitcoin’s breakout above $106,000 didn’t hold, and that could mean more than just a failed rally. Bitcoin needed to hold above the $106,000 breakout level. Falling back below this threshold invalidates the Monday breakout signal and reinforces our cautious stance.” The decline caught an optimistic market, buoyed by recent positive price action, completely off guard. As a result, over $427 million in long positions were liquidated in the past 24 hours, according to data from CoinGlass. BTC was trading around $109,000-$110,000 a day prior, fueling speculations about a move to a new all-time high. While BTC has dropped substantially, gold and oil prices have surged. However, analysts believe this trend could reverse soon if historical trends are anything to go by. Bitcoin entrepreneur Anthony Pompliano highlighted the same in a post on X, stating that “Oil up. Gold up. Bitcoin down. The initial reaction follows exactly what happened when Iran shot 300 missiles at Israel. Bitcoin ended up outperforming the other two over the first 48 hours in that situation. Will be interesting to see what happens here.” BTC faced selling pressure and volatility on Monday (June 2), falling to an intraday low of $103,768 before recovering to reclaim $105,000 and settle at $105,902. The price fell back into the red on Tuesday, falling 0.44% to $015,436. Sellers retained control on Wednesday as BTC fell almost 1%, slipping below $105,000 and settling at $104,752. Bearish sentiment intensified on Thursday as BTC plunged 3%, falling to a low of $100,424 before settling at $101,614. It recovered on Friday, rising nearly 3% and settling at $104,378. Source: TradingView Buyers retained control over the weekend as BTC rose 1.15% on Saturday and registered a marginal increase on Sunday to reclaim $105,000 and settle at $105,784. Bullish sentiment intensified on Monday as BTC surged over 4%, crossing the 20-day SMA and $110,000 and settling at $110,251. Bulls lost momentum after reaching this level, and the price fell to an intraday low of $108,335 on Tuesday. However, it recovered to reclaim $110,000 and settle at $110,253. Bearish sentiment returned on Wednesday as BTC fell 1.42% to $108,687. Selling pressure intensified on Thursday as BTC plunged nearly 3%, slipping below the 20-day SMA and settling at 105,828. The price fell to a low of $102,832 during the ongoing session as markets turned bearish but has made a marginal recovery to move to $104,816. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.