Epic Games, the developer of Fortnite, has confirmed the downsizing of its workforce by approximately 16%, affecting nearly 830 employees worldwide. The announcement was made by CEO Tim Sweeney in response to the company’s financial instability, which has been exacerbated by the global transition to net zero hiring and the reduction of operating costs.

Sweeney admitted that the company’s expenditure far exceeded its earnings, making the layoffs necessary to achieve financial stability.

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In the unfolding legal battle between the US Securities and Exchange Commission (SEC) and Binance, a major cryptocurrency exchange, Circle, a stablecoin issuer, has stepped in. Circle contests that stablecoins, such as BUSD and its own USDC, should not be classified as securities under current financial regulations. This intervention comes in the wake of Binance facing multiple legal charges earlier this year, based on the platform’s role in facilitating transactions involving several cryptoc

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Google Cloud has recently become a validator on the Polygon network, a prominent Layer 2 EthereumEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH. network. This collaboration, announced by Polygon Labs, adds Google Cloud to the existing set of over 100 validators tasked with verifying transactions on the network. Leveraging the infrastructure underpinning platforms such as YouTube and Gmail, Google Cloud will contribute to the overall security and integrity of the Polygon Proof-of-Stake (PoS) network.

This partnership extends beyond j

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The US Commodity Futures Trading Commission (CFTC) has initiated a civil enforcement action against Mosaic Exchange Limited and its CEO, Sean Michael, for alleged fraudulent activities in the crypto industry. The defendants are accused of misappropriating funds and deceiving 17 individuals, who invested large amounts in Bitcoin and other cryptocurrencies.

From February 2019 to June 2021, the defendants falsely promoted Mosaic Exchange as a profitable cryptocurrency trading platform, boa

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Sam Bankman-Fried, the former CEO of the now-defunct FTX exchange, is set to attend his trial from jail after his lawyers’ request for temporary release was denied by US District Judge Lewis Kaplan, who cited the potential flight risk due to the severity of the charges and potential prison sentence. Bankman-Fried faces a statutory maximum of 110 years of jail time for seven counts of fraud-related offenses, with his trial commencing on October 3. Despite the challenges of preparing for trial

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