Cointelegraph.com News

• Epic Games lays off 830 staff, citing ‘unrealistic’ metaverse ambitions
  “Spending way more than we earn” — CEO Tim Sweeney blamed job cuts on major structural changes to the company’s economics. 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 […]
• How long could Sam Bankman-Fried go to jail for? Crypto lawyers weigh in
  “I think he’ll get the maximum sentence” — one lawyer predicts the former FTX CEO could look at life behind bars if convicted of all seven charges. FTX founder Sam “SBF” 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 […]
• SBF trial dates revealed: FTX founder to stand trial over 6 weeks
  In a hearing, Assistant U.S. Attorney Danielle Kudla said the Department of Justice estimated the case could last four to five weeks. Former FTX CEO Sam “SBF” Bankman-Fried will spend at least 21 days in court as part of his criminal trial, which will begin in earnest on Oct. 4 and last until Nov. 9, […]
• Enter the Ether: VanEck releases two ETF ads ahead of possible Monday launch
  Once Ethereum futures ETF and spot Bitcoin ETF applications get approved, there will be a marketing war like we’ve never seen says, Bloomberg ETF analyst Eric Balchunas. Investment manager VanEck has fired up the marketing engine for its “upcoming” Ether (ETH) futures exchange-traded fund (ETF), which some analysts expect could be launched as early as […]
• The Metaverse is real: Zuck’s ‘incredible’ photorealistic tech wows crypto Twitter
  Often roasted for his metaverse tech demos, Zuckerberg appears to have blown away internet users with his latest avatar tech. 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 […]
• China dev fined 3 yrs’ salary for VPN use, 10M e-CNY airdrop: Asia Express
  Crypto industry concerns after Chinese dev fined 3 years’ salary for using a VPN, largest Ponzi in Hong Kong history, JPEX saga, and more. Our weekly roundup of news from East Asia curates the industrys most important developments.Chinese worker fined $145K over VPN An unnamed individual in China was fined 1.06 million yuan ($144,907) for using […]
• SEC delays spot Bitcoin ETF decision for BlackRock, Invesco and Bitwise
  Invesco, Bitwise and Valkyrie were also hit with delays by the U.S. Securities and Exchange Commission. The United States Securities and Exchange Commission has delayed its decision on several proposals for spot Bitcoin (BTC) exchange-traded funds (ETFs), including BlackRock, ahead of an anticipated government shutdown.The spot Bitcoin ETF applications of Invesco, Bitwise and Valkyrie were also delayed by the […]