US senator calls on SEC to ‘crack down’ on crypto platforms that scam customers
Us Democratic Senator Elizabeth Warren has called on Congress and the Securities & Exchange Commission (SEC) to tighten regulations on the crypto industry and protect customers from scams. She thinks that authorities have to act more aggressively, especially after the bankruptcies of several firms have resulted in people losing their investments.
OpenSea cuts 20% of staff amid ‘unprecedented combination’ of crypto winter and macroeconomic instability
The talent attrition in the crypto market continues. OpenSea, the largest NFT marketplace in the world, has cut 20% of its staff. The company cited the so-called “crypto winter” and macroeconomic challenges as the main reasons behind this decision.
Animoca Brands hits almost $6 billion valuation, ready to survive crypto winter
Blockchain gaming giant Animoca Brands has raised $75.3 million, which brings its market valuation to $5.9 billion. The company will continue to invest in more titles, believing that the so-called “crypto winter” won’t kill the industry.
Shanghai to establish $1.5 billion fund to help launch 100 metaverse products by 2025
Shanghai’s government has announced it plans to establish a $1.5 billion fund dedicated to metaverse development. The initiative is supposed to accelerate China’s economic recovery through supporting companies working in this area.
Pocketful of Quarters becomes Unity partner to let devs transfer virtual currency between different games
Pocketful of Quarters (POQ) has become an official Unity partner. This will not only allow developers to implement blockchain technology for their projects, but also to transfer in-game tokens between multiple titles.
Axie Infinity infamous crypto hack reportedly happened due to fake job offer on LinkedIn
New details about the infamous hack that resulted in over $600 million being stolen from Axie Infinity have been revealed. It turned out that hackers tricked a Sky Mavis developer into applying for a fake job offer at a fictitious company.
Former TikTok gaming head launches Meta0 to develop multi-chain protocol for NFT games
Jason Fung, former head of TikTok’s gaming division, has founded the new company titled Meta0. He wants to fix infrastructure problems with blockchain gaming by developing a special protocol with multi-chain support.
Polium One dubbed “next-gen console for Web3 gaming” faces criticism, including copying GameCube logo
Blockchain company Polium has announced its own “multi-chain console” for Web3 gaming. The device, however, faced a lot of criticism online, with people struggling to understand its purpose. Not to mention its logo being similar to that of the GameCube.
Crypto fund Three Arrows Capital files for bankruptcy after failing to pay $670 million loan
Crypto hedge fund Three Arrows Capital (3AC) has filed for bankruptcy amid the ongoing blockchain industry collapse. The company is now seeking protection from creditors in the US after failing to pay a $670 million loan.
Metaverse platform Mona raises $14.6 million to let creators build and sell virtual worlds as NFTs
Mona has raised $14.6 million for its metaverse platform for digital creators. It is designed to help people build virtual worlds and sell them as NFTs, while also offering its own infrastructure and editor.
Report: NFT market “has fallen off the cliff” in June, with sales dropping below $1 billion mark
The NFT market has continued its downfall this month, with sales dropping to the lowest levels in the last 12 months. Experts think that investors are now looking for safer places following the latest Terra collapse and other warning signs.
Project Twelve raises $8 million to build its Web3 gaming ecosystem and make game economy sustainable
Project Twelve (P12), which operates its own metaverse editor, has closed a new $8 million funding round. The company will allocate the money to develop its own Web3 gaming ecosystem and make the game economy sustainable. One of the goals is to remove the widespread for-profit model.
STEPN’s reward token plunges 98% in two months while its move-to-earn rivals on rise
STEPN, the most famous move-to-earn app globally, has seen its reward token drop almost 100% in the last two months. This might be due to the unsustainability of the product’s tokenomics. However, its rivals in the category have been on the rise for a while.
Harmony places $1 million bounty to return $100 million in cryptocurrency stolen during latest attack
Harmony, a blockchain protocol for Web3 apps and games like DeFi Kingdoms, has offered a $1 million bounty for the return of $100 million stolen during the latest bridge attack. However, some people think the reward is too low for hackers to consider taking it.
Axie Infinity to reimburse victims of $625 million hack, with Ethereum down over 60% ever since
Sky Mavis has pledged to reimburse Axie Infinity players affected by the $625 million hack no later than next week. However, the announcement came in the wake of the latest crypto market crash, which sent the Ethereum price to the downfall.