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Meta will delay the release of its flagship AI model, "BEHEMOTH."

5 hours ago

On May 16th, as reported by WSJ, sources with knowledge of the matter stated that Meta Platforms (META.O) will postpone the launch of its flagship AI model. This has sparked internal concerns regarding the direction of its multi-billion-dollar AI investment. Sources indicated that engineers are working diligently to enhance the performance of a large language model named "Behemoth." Employees are questioning whether the extent of these improvements is sufficient to support a public release. The model, which was originally scheduled to make its debut at Meta's first AI Developer Conference in April, was later postponed to June and is now further delayed until the fall or beyond. Despite Meta's previous recognition for quickly closing the gap with competitors like OpenAI and its commitment of $72 billion to fulfill Zuckerberg's AI ambitions, the "Behemoth" training setback has led to underwhelming performance. The executive team is dissatisfied with the Llama 4 development group and is considering a management restructuring in the AI product division. (Jinse)
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Abu Dhabi's sovereign wealth fund Mubadala has disclosed its ownership of more than $400 million worth of BlackRock's Bitcoin Futures ETF.

On May 16th, the latest 13F filing of Abu Dhabi's sovereign wealth fund Mubadala showed that its holdings of the BlackRock Bitcoin spot ETF (IBIT) rose to 8,727,000 shares, with a market value of $408.5 million, representing a 6% increase from the end of 2024. (Bitcoin Magazine)

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Wintermute Address Received 10 Million MIRAI, Potentially as a Liquidity Provider

On May 16th, as per the monitoring by LookOnChain, the Wintermute address has received 10 million US MIRAI (valued at $105,000), or it may be a MIRAI liquidity provider.

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U.S. Prosecutors Charge 20-Year-Old Singaporean Malone Lam with Stealing $245 Million in Crypto Assets and Lavish Spending

On May 16th, as per the report by CNBC, federal prosecutors in Washington, D.C. have brought charges against 13 men. They are alleged to have orchestrated a comprehensive conspiracy. The aim of this conspiracy was to identify victims possessing significant amounts of cryptocurrency. Then, these assets were stolen, and the proceeds were laundered. According to a CNBC report on Thursday, in this case, the cryptocurrency of the victims was stolen, with a value exceeding $265 million. The 13-person group consists of both U.S. and foreign nationals. After stealing the crypto assets, they spent lavishly. This included spending $9 million on luxury cars, $4 million at nightclubs, and several rental properties. One of the defendants is 20-year-old Singaporean Malone Lam. He was previously arrested and charged in connection with one of the largest thefts. In mid-August, he stole approximately $245 million worth of Bitcoin from a man in Washington, D.C. According to the indictment, Lam used th

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Wintermute received 10M $MIRAI($105K) and is the market maker of $MIRAI.

Wintermute received 10M $MIRAI($105K) and is the market maker of $MIRAI.

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Yesterday, there was a net outflow of $123.7 million from FBTC and a net outflow of $31.6 million from FETH at Fidelity.

On May 16th, as monitored by Farside Investors, yesterday witnessed a net outflow of $123.7 million from Fidelity BTC (FBTC) and a net outflow of $31.6 million from Fidelity ETH (FETH).

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BlackRock's sBUIDL to Kickstart 'First-of-its-Kind Direct DeFi Protocol Integration' on Avalanche

On May 16th, as reported by The Block, Belridge's nearly $3 billion tokenized sovereign bond fund BUIDL announced the launch of the "first direct DeFi protocol integration" with Avalanche and the Euler Protocol. This collaboration is based on the sToken framework developed by Securitize, enabling sBUIDL (BUIDL's composable ERC-20 token) to expand on-chain use cases while ensuring redeemability. Through an integration solution developed by Re7 Labs, users can now utilize sBUIDL as collateral to borrow USDC or AUSD on Euler and obtain AVAX rewards and the underlying yield of the BUIDL fund. Currently, BUIDL is the world's largest tokenized sovereign bond fund, holding approximately $3 billion in short-term government bonds and repurchase agreements.

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