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Gaming retailer GameStop says it will no longer focus any efforts on cryptocurrencies, after amounting $94.7 million in net losses in the third quarter and laying off staff from its digital assets department. On a Dec. 7 earnings call GameStop CEO, Matt Furlong, said it “proactively minimized exposure to cryptocurrency”
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LG Electronics, one of the largest global manufacturers of electronic appliances, is recruiting chief technical officers (CTOs) to lead the company’s growing Web3 business, according to its official website.See related article: LG Electronics to launch Hedera-based crypto walletFast factsThe electronics giant is recruiting CTOs in two departments: business development and
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According to reports on Oct. 28, the crypto exchange Binance intends to create a team to work on crypto and blockchain solutions for Twitter, following the acquisition of the social media company by tech billionaire Elon Musk.The development came hours after Binance's founder and CEO, Changpeng Zhao, or CZ, confirmed that the
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During a hearing in the U.S. Bankruptcy Court for the Southern District of New York on Thursday, a Kirkland & Ellis lawyer said the loans were mistakenly believed to be in dollar-pegged stablecoins, which the lender wouldn't have been able to use to finance its operations. Source
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South Korea continues its immersion in Web3 and the Metaverse. After investing almost $200 million in the creation of its own metaverse ecosystem and publishing the “Metaverse Ethical Principles,” the country’s government is now preparing the Metaverse Industry Promotion Ac.As reported by local media on Sept. 1, Heo Eun-ah, a
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William Callahan joined CryptoX TV’s “First Mover” to discuss the Treasury Department’s sanctioning of the mixing service. Source
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One of the leading crypto hubs in the Middle East, the emirate of Dubai, launches the Dubai Metaverse Strategy that aims to turn it into one of the world’s top 10 metaverse economies. The strategy promotes Dubai’s ambitions to support more than 40,000 virtual jobs by 2030. On July 18, the
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Anti-crypto technology experts urged United States lawmakers to resist the influence of pro-crypto lobbying efforts. Bruce Schneier, a lecturer at Harvard, reportedly said that blockchain advocates's claims are "not true." He added that the technology is not secure and not really decentralized. According to Schneier, systems where you can "lose your
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Cryptocurrency custody firm Fireblocks hired Varun Paul, the former head of fintech at the Bank of England, as its first director of central bank digital currency (CBDC) and market infrastructure. Source
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