Meta CEO Mark Zuckerberg told employees the company made mistakes during an AI-driven organizational transformation. According to NS3.AI, Meta expects no large-scale layoffs this year following workforce reductions that affected about 10% of its global staff in May.

U.S. federal prosecutors have charged a Tennessee man with 11 counts for allegedly operating a cryptocurrency Ponzi scheme through his company, Star Credit Holdings, from 2020 to 2024. According to ChainCatcher, the U.S. Department of Justice said the defendant allegedly lured investors with false promises of guaranteed returns, used funds from new investors to pay earlier investors, and defrauded victims of several million dollars. Prosecutors also allege he misappropriated more than $1.9 million for himself and family members. The charges include wire fraud, money laundering, and filing false tax returns. If convicted, he could face decades in federal prison.

Meta CEO Mark Zuckerberg told employees the company has made mistakes during an AI-driven organizational transformation and said similar issues could occur again. According to Odaily, Zuckerberg said Meta is investing hundreds of billions of dollars into artificial intelligence to reshape its core business structure, but rapid changes in AI technology have created significant organizational challenges. He said errors occurred during some staffing adjustments and restructuring efforts, and added the company will try to provide greater organizational stability going forward. Zuckerberg also said he does not expect Meta to carry out large-scale layoffs again this year. Meta’s recent restructuring included major changes in May, including about a 10% reduction of its global workforce and the reassignment of about 7,000 employees to AI-related projects. Zuckerberg said some affected employees will be reassigned to roles related to model training and AI workflows to reduce disruption. He also said Meta will increase investment in team-building, including raising budgets for external meetings and collaboration, and plans to hold a large hackathon in July to support coordinated development of AI projects. Zuckerberg said Meta has also identified problems linked to expanded management responsibilities and plans to reduce management layers. Media reports said the newly established Applied AI Engineering unit is using a highly flat structure, with some teams having employee-to-manager ratios as high as 50 to 1. Meta did not provide further comment on that point in an internal memo, the report said.

Humanity said an attacker transferred about 141.18 million H tokens after phishing a project director, citing findings from a Quantstamp investigation. According to NS3.AI, the report said the attacker also gained control of the BSC ProxyAdmin contract and minted new tokens. Humanity said the Ethereum H token contract has been frozen, and added that the mainnet bridge was not affected.

Kingdom Holding Company said it currently holds 42.4 million shares of SpaceX Class A common stock, with a book value of $4.47 billion. According to Jin10, the company based the disclosure on its financial statements for the period ending March 31.

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