SharpLink Gaming has emerged as the largest public company holder of Ethereum after acquiring $462 million worth of the cryptocurrency, marking a significant move in the crypto treasury landscape. The
Walmart and Amazon are reportedly considering issuing their own US dollar-pegged stablecoins, an indication of wider institutional stablecoin adoption amid shifting regulatory winds in the United States. Walmart, Amazon Turn To Stablecoins To Speed Up Settlements According to a Friday report from the Wall Street Journal, citing sources with knowledge of the effort, Amazon and Walmart are looking into the development of brand-specific stablecoins. While neither of the tech giants has officially confirmed the stablecoin plans, a token pegged to the U.S. dollar or other government-backed currencies could significantly reduce merchant fees. Merchants currently pay 1–3% for each credit card transaction to networks like Visa and Mastercard. For big companies processing billions of transactions, these fees add up to massive annual costs. The potential launch of stablecoins could help financial technology firms and payment gateways save billions of dollars in fees linked to card payments, including interchange fees — subsequently disrupting the dominance of traditional financial institutions. Another key benefit is that the stablecoin transactions can speed up payment settlements. Traditional card payments typically take 1-3 business days, while stablecoin transactions can settle nearly instantly. The report noted that both Walmart and Amazon are still in early stages, mulling private coins or third-party stablecoin partnerships. Potential Launch To Depend On GENIUS ACT Walmart and Amazon join an increasing number of big tech firms exploring stablecoin issuance in the U.S. Any launch will likely depend on the progress of an important legislation, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. If signed into law by President Trump, the GENIUS Act would establish a regulatory framework for legally issuing stablecoins in the US, which may set the stage for big companies to adopt or roll out stablecoins as an alternative to current payment rails.
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
Fresh geopolitical tensions between Israel and Iran sparked sharp declines in crypto and global equities, sending oil prices higher and triggering $1 billion in crypto liquidations as markets brace for further instability. Oil Soars, Bitcoin Slips as Global Markets React to Middle East Conflict Global markets reeled overnight after Israel’s preemptive airstrike on Iran’s nuclear
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