FT News Briefing Why admitting Ukraine into the EU is tricky
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Aug 8, 2023 Meta has shifted focus, dissolving its AI protein structure team, while PayPal dives into the stablecoin market, highlighting the nuances between stablecoins and traditional cryptos. The discussion turns to Ukraine's tough journey toward EU membership, grappling with vast geopolitical and economic challenges. Governance reforms are also crucial, as the EU navigates the complexities of integrating Ukraine. The themes weave together technology, finance, and international relations in a compelling way.
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Meta Shifts AI Focus
- Meta disbanded its AI protein-folding team to prioritize commercially viable AI projects.
- This shift signifies Meta's move away from purely scientific endeavors towards revenue generation.
PayPal Launches Stablecoin
- PayPal's launch of a stablecoin marks its entry into cryptocurrency payments.
- This move is notable given the ongoing regulatory scrutiny of cryptocurrencies.
Stablecoins vs. Cryptocurrencies
- Stablecoins, pegged to a major currency like the dollar, offer a less volatile alternative to cryptocurrencies like Bitcoin.
- They facilitate easier movement between different cryptocurrencies without high fees, according to crypto proponents.