This week, 15,000 Bitcoin were moved at a loss by short-term holders, raising the chance for a BTC price dip under $100,000. Key takeaways: Short-term Bitcoin holders sold 15,000 BTC at a loss throughout the week. Onchain data suggests a Bitcoin price bottom in the $97,000–$94,000 zone. Read more
The social media app will soon be embedded with various financial services, X CEO Linda Yaccarino said. Elon Musk’s social media platform, X, will soon integrate various financial services, enabling users to make payments and investments directly within the app. In a recent interview with the Financial Times, X CEO Linda Yaccarino said the platform’s estimated 600 million users will eventually “be able to transact [their] whole life on the platform,” from sending money to managing investments. The company is also considering launching an X-branded credit or debit card, potentially later this year. Read more
OpenAI is dropping Scale AI from its data labeling suppliers days after the startup’s acquisition by Meta. OpenAI is scaling back its contracts with Scale AI, a data labeling startup recently acquired by social media giant Meta. According to a Thursday report from Bloomberg, the ChatGPT maker is winding down its reliance on the startup's data, a few days after Meta announced a $14.8 billion deal for a 49% ownership stake in Scale AI. The acquisition was Meta’s second-largest and will also have Scale CEO Alexandr Wang joining Meta’s experimental AI project. The companies announced the deal on June 12. Read more