Derived from ChainCatcher, Meta has announced the acquisition of Butterfly Effect, the company behind the Chinese AI project Manus, for hundreds of millions of dollars. The founder and CEO, Xiao Hong, is a long-term Bitcoin holder, having started buying BTC in 2013 and significantly increasing his holdings during the 2017 bull run. His BTC position served as a hedge and belief asset, enabling him to reject a $30 million acquisition offer from ByteDance during his AI startup journey before ultimately securing a major exit with Meta.
Meta Acquires Chinese AI Project Manus for Hundreds of Millions, Founder Xiao Hong a Longtime BTC Holder
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Meta has acquired Butterfly Effect, the firm behind the Chinese AI project Manus, for hundreds of millions of dollars, according to ChainCatcher. Founder Xiao Hong, a long-term Bitcoin holder since 2013, used BTC as a hedge and belief asset. He rejected a $30 million offer from ByteDance during his startup phase. Xiao’s TA for crypto strategy and understanding of support and resistance levels helped him secure a major exit with Meta.
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