Epic Games Announces Layoffs of 830 Employees
“Spending way more than we earn” — CEO Tim Sweeney attributed layoffs to major structural changes in the company’s economics. Epic Games, the developer of Fortnite, has slashed 16% of its workforce, or approximately 830 employees, due to spending “way more” money than it was generating due to unrealistic expectations of metaverse-inspired revenue. In a […]
Trial Dates Unveiled: Sam Bankman-Fried to Face 6-Week Trial
Assistant U.S. Attorney Danielle Kudla stated that the Justice Department estimated the case would last between four and five weeks. Sam “SBF” Bankman-Fried, former CEO of FTX, will spend at least 21 days in court as part of his criminal trial, which will commence in earnest on October 4 and continue until November 9, according […]
PayPal Explores Blockchain’s Layer 2 Solutions and NFTs
PayPal’s blockchain patent aims to streamline payments between users and merchants across different network layers. PayPal is reportedly investigating new opportunities in the blockchain space, particularly with additional Layer 2 solutions and non-fungible tokens (NFTs). According to a succession of recently published patent applications, PayPal’s research and development priorities revolve around several key areas. The […]
Analyst: Ethereum Futures ETFs May Begin Trading Next Week
Bloomberg analysts predict that Ether futures exchange-traded funds (ETFs) could begin trading in the United States early next week. James Seyffart, a Bloomberg Intelligence analyst, stated in an X post on September 28 that “looking like the SEC is gonna let a bunch of Ethereum futures ETFs go next week potentially.” His remarks responded to […]
Mark Zuckerberg Introduces Meta AI Chatbot
The new AI assistant, Meta AI, will be available to a limited number of U.S.-based consumers beginning on September 27. Mark Zuckerberg, chief executive officer of Meta, has unveiled his company’s new artificial intelligence (AI)-powered assistant, Meta AI, which will integrate with Instagram, Facebook, WhatsApp, and, eventually, the company’s mixed reality devices. At the Meta […]