Ethereum’s dominance in staking, the spot crypto ETFs, and improving investor sentiment all point toward a sustained ETH price rally. Key takeaways: ETH’s price gains are driven by an uptick in network activity and robust spot ETF inflows. Data suggests $2,800 will remain a difficult hurdle for ETH to overcome. Read more
Mark Zuckerberg is reportedly assembling a superintelligence group that will include Scale AI founder Alexandr Wang. Meta Platforms is reportedly acquiring a 49% stake in Scale AI, a leading data labeling company that powers many AI applications, as CEO Mark Zuckerberg seeks to strengthen Meta’s position in the competitive artificial intelligence landscape. After days of speculation, The Information reported on Tuesday that Meta has finalized a $14.8 billion deal for a significant minority share in Scale AI. According to sources familiar with the negotiations, the transaction was completed in cash and includes Scale AI’s CEO, Alexandr Wang, joining Meta as part of a new “Superintelligence” initiative. Read more
Guggenheim’s Treasury-backed fixed-income product will be available on the XRP Ledger. US investment manager Guggenheim is expanding its digital commercial paper offering through a partnership with Ripple, underscoring the growing convergence between traditional finance and crypto-native enterprises. Under the partnership, Guggenheim’s subsidiary, Guggenheim Treasury Services, will make its US Treasury-backed fixed-income asset available on the XRP Ledger, according to Bloomberg. Ripple will invest $10 million in the asset as part of the collaboration. The commercial paper product is fully backed by US Treasurys with customized maturity options of up to 397 days. Read more