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Trump Family Expands Crypto Bets as Thumzup Pivots Into Dogecoin Mining
NFT Gaming

Trump Family Expands Crypto Bets as Thumzup Pivots Into Dogecoin Mining

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Thumzup Media Corp. (TZUP), which counts Donald Trump Jr. as a large shareholder, said it will acquire Dogehash Technologies, Inc. in an all-stock deal, pivoting from digital marketing into industrial-scale crypto mining

Under the agreement, Dogehash shareholders will receive 30.7 million Thumzup shares, according to a Tuesday release, valuing the transaction at $153.8 million, based on the shares’ closing price. The combined company will rebrand as Dogehash Technologies Holdings, Inc. and list on Nasdaq under the ticker XDOG, pending shareholder approval later this year.

Dogehash operates about 2,500 Scrypt ASIC miners across renewable-powered data centers in North America, with plans to scale up further in 2026. Unlike firms that pad their balance sheets by simply buying coins, Dogehash has invested in its own infrastructure, giving it direct exposure to dogecoin

and litecoin block rewards at a lower cost base.

The deal comes on the heels of Thumzup’s $50 million stock offering in July, earmarked for mining expansion and digital asset accumulation. The company says it will also use Dogecoin’s DogeOS layer 2 to stake in DeFi products, aiming to boost miner returns beyond standard rewards.

This new deal adds to the Trump family’s expanding crypto empire. Eric Trump and Donald Jr. launched American Bitcoin earlier this year with Hut 8, which has over 60,000 miners.

Meanwhile, World Liberty Financial, another Trump-backed venture, struck a $1.5 billion deal with Nasdaq-listed ALT5 Sigma to inject its WLFI token into the firm’s treasury.

Thumzup stock fell 41% to $5.01 on Tuesday.



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SEC Boss Calls for Protecting Crypto Markets Against 'Regulatory Mischief'
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SEC Boss Calls for Protecting Crypto Markets Against ‘Regulatory Mischief’

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  • A new day for crypto 
  • Future-proofing crypto industry  

U.S. Securities and Exchange Commission Chair Paul Atkins has stated that the agency must craft a framework that would protect cryptocurrency markets against regulatory mischief in the future. 

“I look forward to working with my counterparts across the Administration and Congress to get the job done,” Atkins stressed. 

As reported by U.Today, Atkins stated that the agency was mobilizing all of its divisions in order to be able to achieve cryptocurrency dominance while also stressing that he was looking forward to more progress in Congress when it comes to cryptocurrency-focused legislative efforts. 

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He also made it clear that the SEC was focused on moving away from the hostility that was fomented under the leadership of former SEC Chair Gary Gensler. 

A new day for crypto 

During a recent appearance at the 2025 Wyoming Blockchain Symposium, which is taking place in Jackson Hole, Atkins stressed that it is “a new day” for the cryptocurrency industry. 

“You know, the lawfare that was being waged over the last few years is, you know, even more than I imagined, he stressed. 

Atkins has recalled that the SEC went from a “head-in-the-sand” approach, hoping that crypto would just go away, to active regulation by enforcement under Gensler. 

Now, however, the SEC is embracing innovation. “We want to embrace innovation and, historically, the SEC, frankly, has not shunned innovation,” Atkins added. 

Future-proofing crypto industry  

Atkins has added that there are a lot of questions that have to be answered, stressing the importance of the recently passed GENIUS Act, which brings much-needed clarity to the stablecoin sector. 

At the same time, he has stressed the need for future-proofing the industry from regulatory overreach, stressing that things will be different five or ten years from now. 

“So, all I’m pleading for is, you know, flexibility so that we can keep the regulatory scheme adaptable to changes in the marketplace and technology as we go forward,” he added. 



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Wyoming Becomes First US State To Launch Its Own Stablecoin: Introducing ‘FRNT’

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Shortly after President Donald Trump signed the GENIUS Act into law, providing a new regulatory framework for dollar-pegged cryptocurrencies, Wyoming officially introduced the Frontier Stable Token (FRNT), becoming the first US state to issue its own blockchain-based stablecoin.

The Wyoming Stable Token Commission announced the initiative on Tuesday, aiming to provide users of the new stablecoin with secure, transparent, and efficient digital transactions.

Wyoming’s Stablecoin Issued On Seven Blockchains

Governor Mark Gordon, who chairs the Wyoming Stable Token Commission, emphasized Wyoming’s commitment to financial innovation and the integration of crypto into everyday transactions, stating: 

For years, Wyoming has been the leading state on blockchain, cryptocurrency, and digital asset regulation, passing over 45 pieces of legislation since 2016…The mainnet launch of the Frontier Stable Token will empower our citizens and businesses with a modern, efficient, and secure means of transacting in the digital age.

The Frontier Stable Token is designed to be fully backed by US dollars and short-duration treasuries, held in trust for the benefit of token holders. To enhance its stability, FRNT has a legislatively mandated overcollateralization of 2%. 

FRNT was developed in partnership with industry experts. It will leverage blockchain technology to facilitate instant transaction settlements, reduce fees, and enhance accessibility for a diverse range of users.

In a strategic collaboration with token issuance partner LayerZero, the Commission has ensured that FRNT will be available across multiple blockchain networks. 

This decision follows encouragement from the Wyoming Select Committee on blockchain, which supports the stablecoin’s issuance on seven distinct blockchains, including Arbitrum (ARB), Avalanche (AVAX), Base, Ethereum (ETH), Optimism (OP), Polygon (POL), and Solana (SOL). 

LayerZero, Fireblocks, And Others Collaborate

The launch of the FRNT stablecoin was made through what the commission calls a “thorough and transparent procurement process,” engaging various partners to ensure transparency and efficiency of the new cryptocurrency. 

These partners include LayerZero for token issuance, Fireblocks for blockchain infrastructure, Franklin Advisers for reserves management, Inca Digital for open-source intelligence, and The Network Firm for financial audits and monthly attestations.

In the coming days, FRNT will be available for purchase on the Solana blockchain via US-based cryptocurrency exchange Kraken, based in Wyoming. Additionally, users will be able to access FRNT through Rain’s Visa-integrated card platform on the Avalanche blockchain. 

Beyond Wyoming’s Stable Token Commission’s recommendations for the safe usage of the newly issued token, the Treasury department called on Monday on public input to combat illicit activities involving these assets under the GENIUS Act. 

As reported by Bitcoinist, the department is especially focused on collecting public input regarding various crypto technologies that may improve the capacity to recognize and reduce risks linked to stablecoins. 

The 1D chart shows the total crypto market at $3.88 trillion. Source: TOTAL on TradingView.com

Featured image from DALL-E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Valantis DEX acquires stHYPE as Hyperliquid staking heats up
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Valantis DEX acquires stHYPE as Hyperliquid staking heats up

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Valantis has taken a decisive step in the liquid staking market with its acquisition of stHYPE, the second-largest staking protocol on Hyperliquid’s HyperEVM.

Summary

  • Valantis acquired stHYPE, the second-largest liquid staking token on Hyperliquid.
  • The deal integrates stHYPE with Valantis’ DEX, targeting deeper liquidity and modular yield features.
  • Competition with kHYPE sets the stage for an expanding liquid staking market.

Announced on Aug. 19, the deal unifies stHYPE under the Valantis ecosystem. It sets the stage for expanded yield opportunities, deeper liquidity, and a stronger roadmap for Hyperliquid’s (HYPE) decentralized finance environment.

Integration and roadmap

Following the acquisition, Valantis takes complete control of stHYPE’s development, operations, and communication. The shift begins with a foundation phase where stHYPE is migrated to CoreWriter, a system designed to enhance security and transparency by enabling improved monitoring of off-chain infrastructure.

Community incentives will also expand through integrator rewards, ensuring stHYPE continues to be widely adopted across Hyperliquid’s protocols. In the second phase, stHYPE will be transformed into a modular liquid staking token that can support multiple staking addresses and allow new permissionless interactions between DeFi and staking applications.

This modular base is expected to connect staking with trading, lending, and HyperCore’s derivatives markets, giving liquidity providers more ways to participate from a single HYPE deposit.

Hyperliquid staking landscape

stHYPE enters this new chapter at a time of growing competition within Hyperliquid. kHYPE, which commands over a billion dollars in total value locked, has surpassed it as the dominant LST.  

Through the acquisition of stHYPE, Valantis hopes to close that gap by transforming its DEX into a hub for liquidity that vertically integrates trading and staking. The strategy also expands the scope of STEX pools, which already support efficient swaps and lending market integrations without waiting through staking withdrawal queues.

Hyperliquid’s liquid staking market appears to be changing, with protocols now competing not only on staking yields but also on depth of liquidity, DeFi integration, and the range of services provided. Valantis sees the merger with stHYPE as an opportunity to gain a stronger presence in a market that continues to attract new participants and innovations.



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Fed’s Top Banking Regulator Floats Allowing Staff to Hold Crypto

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In brief

  • Fed Vice Chair for Supervision Michelle Bowman said staff should be allowed to hold small amounts of crypto to gain practical understanding.
  • Her remarks emphasized blockchain’s potential to reduce friction in asset transfers and called for legal frameworks to evolve in parallel.
  • Legal experts say her comments mark a regulatory shift, though some warn staff holdings could pose conflict-of-interest risks.

Federal Reserve Vice Chair for Supervision, Michelle Bowman, told a crypto conference in Jackson Hole on Tuesday that she favors allowing central bank staff to hold small amounts of crypto, an idea that, if formally proposed, could alter the Fed’s internal rules and spur debate over how the institution engages with digital assets.

The approach should consider allowing Federal Reserve staff “to hold de minimus amounts of crypto or other types of digital assets,” Bowman told audiences in prepared remarks at the Wyoming Blockchain Symposium on Tuesday.

Bowman framed the conversation as one about tokenization’s role in reducing frictions in asset transfers, highlighting how the technology could streamline ownership changes, cut costs, and expand access to capital markets.



“It is possible that we could see a ‘tipping point’ where the processes themselves are well-established, and legal frameworks have been updated to permit a wider range of activities relying on the new technology,” she explained.

A “similar challenge with blockchain technologies” is that adoption depends not only on technical progress but also on legal and regulatory frameworks keeping pace with how the systems are used in practice, Bowman noted.

“We stand at a crossroads: we can either seize the opportunity to shape the future or risk being left behind,” Bowman said.

Crypto policy and legal observers argue Bowman’s comments amount to more than industry talk, carrying weight beyond the symposium setting.

Her remarks “hint at a more open, balanced regulatory approach,” and “show the Fed moving from caution to curiosity,” which could mean U.S. regulators are leaning on “practical understanding over pure caution,” Vincent Liu, chief investment officer at Kronos Research, told Decrypt.

“Bowman’s remarks cannot be dismissed as mere rhetoric; they represent an inflection point in the U.S. regulatory approach to crypto that we can no longer avoid as a country,” Andrew Rossow, a public affairs attorney and CEO of AR Media Consulting, told Decrypt. “They challenge not only the ‘how’ but the ‘why’ of financial supervision.”

Such a stance would “necessitate rigorous legal frameworks, public debate, and more efficient legislative action to balance practical expertise with the highest standards of integrity and public trust,” Rossow explained.

Yet Rossow also cautions that Bowman’s suggestion raises questions about conflicts of interest.

“Regulators cannot realistically avoid the danger of perceived partiality or diminished public trust if staff directly hold even small amounts of speculative assets,” he said, adding that “practical exposure” and direct crypto ownership may not be the “only effective path to regulatory competence.”

Rossow argued that episodes from Enron to the Silk Road and FTX show how repeated crises expose the dangers of “blind reliance on fear of abuse,” making clear the need to reckon with their lasting significance. “The answers are right in front of us, and they’re hauntingly beautiful,” he said.

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Market Observers Say Bitcoin’s Structure Looks Weak Even as Industry Strengthens

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Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.

As Asia begins its trading day, BTC is down 3% in the past 24 hours, changing hands at $113,000, while Ether is also in the red, down 5.6% to $4,100, extending a week of weakness across majors.

The pullback comes despite a continued stream of bullish headlines, underscoring what market observers say is a widening gap between short-term price action and longer-term structural progress.

In a recent report, Glassnode frames the decline as a function of fragility: spot momentum is fading, leverage is stretched, and profit-taking pressure is building. Even though U.S.-listed spot ETFs attracted nearly $900 million in inflows last week, Glassnode warns that without renewed conviction in spot markets, positioning remains vulnerable to deeper deleveraging.

However, this view is not universal.

Enflux, a Singapore-based market maker, by contrast, argued in a recent note shared with CoinDesk that the industry is maturing faster than prices suggest.

Weak price action is a short-term disconnect, and traders aren’t focusing on the more important headlines: Google becoming the largest shareholder in miner TeraWulf, Wyoming launching a state-backed stablecoin, and Tether hiring a former White House crypto policy official.

These shifts, they argue, show capital and talent aligning around a regulatory-aligned, institutional future.

The divergence in tone is telling. One camp sees fragile positioning and fading momentum; the other sees scaffolding being laid for an institutional, regulatory-aligned cycle. Prices may look unimpressed, but the industry’s trajectory suggests the market is maturing faster than charts imply.

Market Movers

BTC: Bitcoin fell 3.2% to below $114,000 as cryptocurrencies and related stocks extended losses ahead of the Fed’s FOMC minutes and Powell’s Jackson Hole speech later this week.

ETH: Ether fell 3.5% to under $4,200 as investors reconsider the likelihood of a September Fed rate cut, with Bank of America economists warning Powell may argue for holding rates amid sticky inflation and tariff pressures.

Gold: Gold edged up to $3,384.70 and silver to $38.115 in quiet trading as markets await Powell’s Jackson Hole speech Friday on the Fed’s policy outlook, while global stocks were mixed and China’s central bank injected $65 billion to steady bonds.

Nikkei 225: Japan’s Nikkei slipped 1.14% to 43,050.89, retreating from record highs as investors weigh risks tied to a fragile U.S. trade deal.

S&P 500: U.S. stock futures were little changed Tuesday night, with the S&P 500 flat, Dow steady, and Nasdaq 100 down 0.2%, as investors awaited major retail earnings and Fed meeting minutes.

Elsewhere in Crypto

  • Bullish’s $1.15B in IPO Proceeds Was Entirely in Stablecoins—A First for Public Market (CoinDesk)
  • Who Needs 280 Bitcoin Domain Names? Massive BTC Bundle Goes Up for Auction (Decrypt)
  • Robinhood launching sports betting prediction markets on NFL and NCAA football via Kalshi partnership (The Block)



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Dogecoin Open Interest Underwater With 15,160,000,000 DOGE
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Dogecoin Open Interest Underwater With 15,160,000,000 DOGE

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  • DOGE bull season over?
  • What’s next for DOGE?

The crypto market is in a massive bloodbath and investors’ confidence has continued to weaken. Amid this negative market condition, data from Coinglass shows that the largest meme token by market capitalization, Dogecoin (DOGE), has seen its futures open interest decline by 8.24% over the last day.

The data shows that the total number of active futures contracts involving Dogecoin that have not been settled has dropped significantly to 15.16 billion DOGE worth approximately $3.25 billion.

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This marks a massive decrease from the number of DOGE recorded the previous day, sitting at its bare levels since the beginning of August.

DOGE bull season over?

The plunge in Dogecoin’s open interest comes as the meme coin falls significantly in its trading price, struggling to hold key support levels.

While the price plunge is experienced across the broad crypto market, prices of altcoins and memecoins are mirroring the broader market downturn led by Bitcoin and Ethereum.

With this unfavorable market trend, risk appetite across altcoins and meme assets has declined massively, and such highly volatile cryptocurrencies like Dogecoin have continued to plunge deeper over the past days.

With Dogecoin falling notably by 8.24% in the last day, it appears that traders are increasingly exiting leveraged positions. While the latest liquidation trends have seen traders opening long positions suffer massive losses, the decrease in DOGE’s open interest signals weakening confidence among investors. As such, the unsettled futures contracts have probably been wiped out by liquidation, or the traders are closing positions to hedge against the possibility of suffering further losses.

What’s next for DOGE?

Following speculations that the broad crypto market might already be slowly entering its bearish phase, investors are wary of committing more funds to the asset’s derivatives market.

Over the last day, the token has seen its price decline massively by 4.4%, trading as low as $0.2137 as of press time, according to data provided by CoinMarketCap.

Source: CoinMarketCap

Despite positive predictions from analysts suggesting that the token might regain momentum shortly, investors are still taking caution as sustained decreases in open interest like this have historically been followed by deeper market bloodbaths.



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$92-Million Bitcoin Transfer: Bhutan Shuffles 800 BTC Amid Price Drop

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Royal Government of Bhutan has once again moved a large batch of Bitcoin, sparking talk across the crypto market.

Nearly 800 BTC, valued at about $92 million, was shifted on August 18, 2025, into two new wallets. The move added to a series of transactions made earlier this month and has fueled speculation about whether the Himalayan kingdom is preparing to sell.

Third Transaction This Month

This is not the first time Bhutan has drawn attention in August. On August 5, the government transferred 517 BTC to an unknown address.

Just two days later, on August 7, another batch was tracked to a Cobo Hot Wallet at an average price of $116,557.

The Royal Government of Bhutan has transferred 799.69 $BTC, worth $92.06M, into 2 new wallets, likely for deposit into a CEX (#Binance).https://t.co/q4dW3qJBT5 pic.twitter.com/bRvm3o90UI

— Onchain Lens (@OnchainLens) August 18, 2025

Reports confirmed that those coins were headed for sale, with Cobo acting as custodian of Bhutan’s Bitcoin holdings.

In its latest update, blockchain analytics firm Arkham confirmed the 799.69 BTC move and highlighted that this was the third major transaction from Bhutan this month.

Bitcoin’s Price Pressure

The timing comes as Bitcoin struggles to hold onto recent highs. The token reached a record $124,500 on August 14, 2025, before sliding back to $115,300.

Data shows it was down 2.30% in 24 hours and nearly 5% over the week. Platforms like Onchain Lens suggested that Bhutan’s most recent transfer may be linked to Binance, though no official word has come from Bhutanese authorities.

Market watchers say such transfers often hint at a possible sale, but they can also be part of wallet restructuring or custody changes.

BTCUSD trading at $115,489 on the 24-hour chart: TradingView

Bhutan’s Place Among Top Holders

Even with these movements, Bhutan remains one of the biggest nation-state holders of Bitcoin. Current estimates put its reserves at around 9,969 BTC, worth about $1.15 billion.

That kind of figure makes Bhutan the sixth-largest holder worldwide, behind the US with 198,000 BTC, China with 190,000 BTC, the UK with 61,240 BTC, Ukraine with 46,350 BTC, and North Korea with 13,560 BTC.

Unlike other countries that built their stacks mostly from seizures, Bhutan’s holdings trace back to mining.

For now, the repeated transfers leave the market guessing. Some traders see it as a sign of profit-taking after Bitcoin’s latest peak.

Others say it may just be about custody adjustments. Without confirmation from Bhutan, the reason behind the moves remains uncertain.

Featured image from Meta, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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Senator Tim Scott courts Democrats for crypto bill as Warren rallies opposition
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Senator Tim Scott courts Democrats for crypto bill as Warren rallies opposition

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By putting a number on his expected Democratic support, Senator Scott appears to be applying pressure and cracking a public whip count that might force hesitant senators to declare their position, turning a policy debate into a political test of loyalty and vision.

Summary

  • Senator Tim Scott predicts 12 to 18 Democrats may back the CLARITY Act in September.
  • The bill seeks to establish U.S. crypto market structure and regulatory clarity.
  • Scott identifies Senator Elizabeth Warren as a key obstacle to bipartisan support.

Speaking at the Wyoming Blockchain Symposium on August 19, Republican Senator Tim Scott publicly quantified his expected Democratic support for the upcoming CLARITY Act, predicting between 12 to 18 cross-aisle votes.

The Senate Banking Committee Chairman detailed his outreach to Democrats, framing the vote as a necessary step to provide regulatory certainty in the crypto industry and to deliver on President Trump’s stated goal of making the U.S. a global hub for digital finance.

Notably, Scott directly addressed the primary obstacle, naming Senator Elizabeth Warren as the central “force to overcome” for Democrats who might otherwise be inclined to support the market structure legislation.

Warren’s objections and the politics of crypto regulation

The Senate’s draft bill, which builds upon the House’s CLARITY Act, seeks to clarify how the SEC and CFTC divide oversight and provide legal certainty for exchanges and token issuers.

For its backers, the bill represents a long overdue modernization of financial rules to accommodate crypto, a sector that has grown far faster than regulators’ ability to police it. Scott and other Republicans argue that without a comprehensive structure, innovation will drift overseas, leaving American markets behind.

Warren, the Banking Committee’s top Democrat, has cast the bill in starkly different terms. She has lambasted the Republican draft as an “industry handout,” arguing it creates a bespoke regulatory regime with weaker consumer protections and lighter compliance burdens than those mandated for traditional banks and financial institutions.

The Senator’s central critique is that the bill, shaped significantly by industry input, prioritizes the wishes of the crypto lobby over the financial safety of everyday Americans, potentially exposing the economy to systemic risks. She ties this to a broader narrative of corruption, highlighting the potential for conflicts of interest.

The political elephant in the room

Senator Elizabeth Warren’s line of criticism dovetails with a potent political attack from Democrats focused on President Trump’s business interests. They point to the estimated $620 million in profits his family has reportedly garnered from various crypto ventures, including DeFi projects and memecoins, as evidence that the administration’s pro-innovation stance is less about national policy and more about personal enrichment.

This framing appears to taint the entire legislative effort, making support for the bill politically toxic for Democrats by associating it with the President’s private financial gains.

Despite this formidable hurdle, Scott’s optimism is fueled by more than just hope. It is rooted in the unprecedented alignment of a crypto-friendly executive branch. He is counting on the Trump administration to act as a powerful ally, both in lobbying hesitant legislators and in preparing the regulatory machinery for a swift implementation should the bill pass.

“We now have a team that’s leaning in and we feel like we have to get it done now. Executive action is not enough – period. If one president hated it, this one loves it, we need a Senate and a House that gets legislation passed,” Scott said in a statement.

What is at stake in September is nothing less than the immediate future of the American digital asset industry. Senator Scott’s self-imposed end-of-month deadline for committee action is a critical test of his political capital and his ability to forge a working coalition. 



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Meta Breaks Up AI Lab as Part of Superintelligence Push

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In brief

  • Meta will restructure the Superintelligence Labs into four new AI-focused divisions.
  • An internal memo reveals that AI chief Alexandr Wang will lead one of the new units.
  • Zuckerberg says Meta is committed to leading in the race toward AI superintelligence.

Meta is breaking up its AI Superintelligence Labs into four divisions focused on research, infrastructure, and product development, part of a broader effort to accelerate progress toward so-called superintelligence.

Meta’s chief AI officer, Alexandr Wang, said in the memo that the Superintelligence Labs will be divided into smaller units focused on AI research, infrastructure, hardware, product integration, and the company’s long-term superintelligence goals.

“Superintelligence is coming, and in order to take it seriously, we need to organize around the key areas that will be critical to reach it,” Wang wrote, according to an article on Bloomberg, which first reported the story.

Meta confirmed the reorganization in an email to Decrypt, but declined to provide further details.



The restructured Meta Superintelligence Labs (MSL) will include four groups:

  • TBD Lab, led by Wang
  • FAIR (Fundamental AI Research)
  • Products and Applied Research, led by former GitHub CEO Nat Friedman
  • MSL Infra, which will oversee Meta’s AI infrastructure

The shake-up follows an aggressive hiring spree in which Meta poached top talent from firms like OpenAI, Anthropic, GitHub, and Google DeepMind. In June, Meta invested $14 billion in Scale AI, naming Wang—Scale’s CEO—as Meta’s new chief AI officer. That same month, OpenAI CEO Sam Altman accused Meta of offering $100 million in job packages to lure his staff.

According to a separate New York Times report, which cited sources familiar with the matter, some executives are expected to leave following the restructuring. Meta is also reportedly considering integrating third-party AI models into its products, marking a shift from its past reliance on in-house AI development.

CEO Mark Zuckerberg has made AI and, more recently, achieving superintelligence central to Meta’s long-term vision. In the company’s second-quarter earnings call, CFO Susan Li said capital expenditures could hit $72 billion by year’s end, driven largely by AI-related infrastructure.

In a recent post, Zuckerberg doubled down on Meta’s push toward superintelligence.

“I am extremely optimistic that superintelligence will help humanity accelerate our pace of progress,” he wrote. “But perhaps even more important is that superintelligence has the potential to begin a new era of personal empowerment where people will have greater agency to improve the world in the directions they choose.”

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