Cointelegraph By Tom Mitchelhill
Epic Games, the company behind Fortnite, has slashed 16% of its workforce — approximately 830 staff — after unrealistic expectations of metaverse-inspired revenue caused it to spend “way more” money than it had been earning."We concluded that layoffs are the only way and that doing them now and...
FTX founder Sam Bankman-Fried, once described as the “golden boy” of crypto, is set to stare down a jury next week for his role in the collapse of his $32 billion crypto exchange. After a jury selection process on Oct. 3, the trial begins in earnest on Oct. 4,...
While critics have been busy writing eulogies for Meta’s metaverse dream over the last few years, Mark Zuckerberg’s latest demonstration of its photorealistic avatars shows it could be pretty far from dead after all.Appearing on a Sept. 28 episode of the Lex Fridman podcast, Zuckerberg and the popular...
Prosecutors from the United States Department of Justice will be allowed to surface the details of Sam Bankman-Fried’s political donations as the evidence is directly relevant to his fraud charges, ruled U.S. District Judge Lewis Kaplan.The decision was part of a series of rulings made by Kaplan in...
Ethereum developers are gathering to salute the teams behind Ganache and Truffle, two toolkits that were once vital in the early days of Ethereum smart contracts.In a Sept. 22 post, Consensys announced the sunset of the two products amid a broader shift to Metamask Snaps and SDK. Consensys...
Early Bitcoin (BTC) pioneer Hal Finney shared his vision for zero-knowledge proofs more than 25 years ago, a full decade before the launch of the first cryptocurrency, Bitcoin. The video, purportedly from the Crypto ‘98 conference held on Aug. 26, 1998, in Santa Barbara, shows Finney discussing in detail, the...
The Philippines Securities and Exchange Commission (SEC) has teamed up with its United States counterpart, as well as the Asian Development Bank to crack down on criminals using cryptocurrencies to commit fraud and other financial crimes.According to a Sept. 15 press release, the three institutions conducted an International...
Dubai-based cryptocurrency exchange JPEX has slammed regulators and “third-party market makers” for a liquidity crisis that has seen the platform hike withdrawal fees and suspend certain operations. In a Sept. 17 blog post, JPEX said “unfair treatment” from certain institutions in Hong Kong, along with negative news — caused its...
Cred Protocol, a decentralized credit scoring startup has unveiled the results of its first automated credit scoring system for users of decentralized finance (DeFi).Cred Protocol CEO Julian Gay outlined the results in a Twitter thread, which showed how Cred successfully utilized past transaction behavior on the Aave protocol...
Despite a major decline in trading volume across the broader nonfungible token (NFT) market, a single CryptoPunk has sold for a whopping 2,500 Ether (ETH) which equates to a price tag of just over $2.6 million.The $2.6 million transaction makes the sale of CryptoPunk 4464 — one of...
