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Individual creators and brands will ultimately determine the future of the metaverse as opposed to any centralized entity, according to the co-founders of The Sandbox.
On Nov. 3, the team behind the Ethereum-based metaverse announced on X it had made The Sandbox Map accessible to everyone, where “LAND” owners can publish their own experiences without needing to partake in an application process (which was previously required).
THE METAVERSE IS NOW OPEN
Starting today, LAND owners in The Sandbox can instantly publish experiences on the map!
We’re accelerating user-generated content to unleash the creative potential of creators like you. Let’s build the metaverse together. #UGC…
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The former FTX CEO is headed back to prison and awaits a potential second trial in March, while his lawyers pledged to “continue to vigorously fight the charges against him.”
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Former FTX CEO Sam Bankman-Fried has been found guilty of all of the seven charges in his criminal trial by a jury in New York.
Bankman-Fried was found guilty of two counts of wire fraud and two counts of wire fraud conspiracy along with one count of securities fraud, one count of commodities fraud conspiracy and one count of money laundering conspiracy.
He will return to court for sentencing by New York District Judge Lewis Kaplan at a later date.
Bankman-Fried’s crimes total a maximum of 110 years in prison with the wire fraud, wire fraud conspiracy and money laundering conspiracy carrying a maximum 20-year sentence.
Other key FTX executives including former Alameda CEO Caroline Ellison,…
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Former FTX CEO Sam Bankman-Fried was found guilty by a panel of 12 jurors on Thursday.
Bankman-Fried was charged with all seven counts of fraud alleged by federal prosecutors.
The jury found the former executive guilty after a month-long trial where the prosecution presented nearly 20 witnesses to the defense’s three, with Bankman-Fried himself taking the stand. FTX co-founder Gary Wang, former head of engineering Nishad Singh and former Alameda CEO Caroline Ellison testified against their former colleague.
Sam Bankman-Fried now awaits sentencing. A hearing will be held where Judge Lewis Kaplan — who oversaw the entirety of Bankman-Fried’s trial — will decide on his sentence….
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Cryptocurrency exchange Coinbase narrowed its net loss to $2 million in the third quarter, as notched a year-on-year increase in revenue despite lower trading volumes.
The firm’s net loss in Q3 was trimmed from a $545 million net loss in the prior year period, according to a Nov. 2 earnings statement.
Total revenue increased 14.2% year-on-year to $674.1 million, though quarter-on-quarter revenue fell 4.8%. The figure beat London Stock Exchange Group’s estimate of $653.2 million, according to a report from Reuters.
Of the total revenue, $334.4 million came from subscription and services (mostly stablecoin and blockchain rewards), while $288.6 million came from transaction-based…
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In a recent address at National Taiwan University, Fubon Group Chairman Daniel Tsai, Taiwan’s wealthiest individual, expressed his strong belief in the future of cryptocurrency, highlighting its growing significance in the green economy. Tsai emphasized that blockchain technology will play a pivotal role in traditional investment and financing, predicting that financial commodities tied to carbon rights will likely rely on blockchain transactions. Additionally, he stressed the importance of AI in energy consumption and its role in utilizing renewable energy sources. Taiwan’s recent regulations on virtual currency were also mentioned in the speech.
Marathon Digital has begun mining Bitcoin (BTC) using power generated from methane gas siphoned off a landfill. The 280-kW off-grid pilot project is operating in Utah.
Marathon teamed up with Nodal Power on the project. Nodal Power was launched in November 2022 and produces energy from landfill gas in the southeastern United States and Texas. It raised $13 million in a seed round in August to operate two sites, one of which includes a data center.
A Nodal Power datacenter. Source: PRNewswire
Marathon said in a statement that the project is “part of a broader initiative being conducted by the Company to validate its ability to capture methane emitted from landfills, convert it into…
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The Aragon Association (AA), a Switzerland-based non-profit founded to grow Aragon’s DAO platform, will dissolve.
As part of the process, ANT holders will be given one year to redeem their tokens. A total of 86,343 ether will be deployed into a redemption contract, and ANT holders can redeem these tokens at the price of 0.0025376 ether (ETH) per ANT.
The Aragon project itself will continue to exist, consisting of a product council that will allocate resources and a business entity, made up of the current Aragon OSx team, to carry on development.
The decision to dissolve AA was a private decision made within the team due to legal constraints, the association wrote in a blog…
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Jurrien Timmer, Fidelity’s global macro director, has hailed Bitcoin as an “exponential gold,” emphasizing its role as a modern store of value and hedge against currency debasement. Timmer highlighted Bitcoin’s advantages over gold, noting its digital nature, decentralization, limited supply, and resistance to censorship. He drew parallels between Bitcoin’s potential and historical periods of gold’s success during inflation and negative real rates. While Timmer previously compared Bitcoin to the dot-com bubble, hinting at its revival, he also expressed caution about its growth potentially exceeding current macroeconomic conditions.