The metaverse continues to be a central talking point among leaders and decision-makers in global industries. For many, the vision of the future of the metaverse is not limited to a gamified version of reality. At the World Economic Forum (WEF) 2023 in Davos, Switzerland, a panel of experts came together to discuss a global idea of an industrialized metaverse. With echoes of the industrial revolution, the industrialized metaverse will bring Web3 technologies and beyond into industries that are at play in everyday life. “Deployment in the Industrialized Metaverse” started out with Abdullah Alswaha, the minister of communications and information …

Customers are suing Compass Mining for over $2 million, alleging fraud, after the company cut ties with Russian hosting company Bit River and failed to return customers’ Bitcoin machines, citing a non-applicable United States sanction as the reason. According to a court document filed on Jan. 17, Compass Mining issued a notice in April 2022 that it has terminated its “relationships and dealings with Bit River” due to the sanctions imposed by Executive Order 14024. It is alleged that Compass “did not offer” to return or even retrieve the assets that its customers entrusted the company with to host at …

Switzerland is a “pivot point” for crypto adoption in Europe and continues to be the “center point of the next stage of institutionalization," said Dr. Dirk Klee, CEO of Bitcoin Suisse. The CEO divulged why Switzerland is still the top spot for crypto in Europe and will continue to attract institutional investors in an exclusive Cointelegraph interview streetside in Davos, Switzerland. We have boots on the ground in Davos! Our reporter @gazza_jenks speaks to Dr. Dirk Klee, CEO of @BitcoinSuisseAG about Switzerland and the adoption of cryptocurrency at the @wef. #CTWEF23 pic.twitter.com/ka00dvWpVz — Cointelegraph (@Cointelegraph) January 18, 2023 In discussion …

Crypto media outlet CoinDesk is reportedly considering a potential sale as its parent company Digital Currency Group (DCG) looks to strengthen its balance sheet. According to the Wall Street Journal, CoinDesk has sought the help of investment bankers from financial advisory firm Lazard, who are helping the firm weigh options including a full or partial sale. You know, I just realized that Coindesk is for sale. pic.twitter.com/QqmBPOClpu — Charles Hoskinson (@IOHK_Charles) January 19, 2023 DCG has purportedly received multiple offers exceeding $200 million to buy out the media firm over the last few months, which would result in a phenomenal …

National Australia Bank (NAB) is set to become the second “Big 4” Australian bank to launch an Australian dollar-pegged stablecoin on the Ethereum network. Set to launch sometime in mid-2023, the AUDN stablecoin is aimed at streamlining cross-border remittances and carbon credit trading, according to a Jan. 18 report from the Australian Financial Review (AFR). NAB’s chief innovation officer Howard Silby said the decision to mint the AUDN stablecoin on Ethereum — which is backed 1:1 by the Australian dollar (AUD) — was based on their belief that blockchain infrastructure will play a key role in the next evolution of …

Ripple CEO Brad Garlinghouse expects the firm’s long-running dispute with the Securities Exchange Commission (SEC) will be finalized within “single-digit months” and remains confident in securing a favorable outcome. Speaking to CNBC on Jan. 18 at the World Economic Forum in Davos, Switzerland, Garlinghouse said the verdict could come as soon as June this year now that both parties have “fully filled and fully briefed” their arguments before the U.S. District Court: “We expect a decision from a judge certainly in 2023. You don’t really have control over when a judge makes their decisions. But I’m optimistic that sometime in …

ConsenSys, the parent company behind MetaMask, is letting go of 11% of its workforce, with CEO Joseph Lubin blaming “uncertain market conditions” brought on by recent collapses. In a blog post from ConsenSys CEO Joseph Lubin on Jan. 18, the blockchain firm CEO said “poorly behaved” centralized finance (CeFi) actors have cast a “broad pall on our ecosystem that we will all need to work through.” Lubin said the decision will impact 96 employees and is part of plans to focus its resources on its core businesses. Today we need to make the extremely difficult decision to streamline some of …

Law firm Sullivan & Cromwell have contradicted themselves when they claim that shuttered crypto exchange FTX.US is insolvent, according to former CEO Sam Bankman-Fried (also known as “SBF”) in a January 17 blog post that was shared on Twitter. FTX US is solvent, as it always as been.https://t.co/XjcyYFsoU0 pic.twitter.com/kn9Wm9wxjl — SBF (@SBF_FTX) January 18, 2023 The law firm was hired by FTX Group to handle the bankruptcy proceedings of several of its subsidiaries, including FTX International, Alameda Research, and FTX.US. However, Sam Bankman-Fried has stated on several occasions that he believes FTX.US is solvent and should not have declared bankruptcy. …

Sam Bankman-Fried (SBF), former CEO of the FTX crypto exchange, used his influence in the crypto industry to inflate some coins prices through a coordinated strategy with FTX's sister company, Alameda Research, a New York Times report claimed on Jan. 18. As a way to keep FTX and the companies under its umbrella profitable, Bankman-Fried allegedly approached developers behind projects, insisting that they make their trading debuts on the exchange's platform. Following that, the report claimed that Alameda Research would buy some of these freshly listed coins to raise their value. After attracting projects and using its hedge fund to …

Media start-up Semafor said on Jan. 18 that it will attempt to buy back former FTX CEO Sam Bankman-Fried’s $10 million share of the company, according to a January 18 report from the New York Times. The report stated that Semafor will seek to raise money from other sources to make up for what it is giving back. Scoop: Sam Bankman-Fried invested roughly $10 million of Semafor’s $25 million round, making him the company’s biggest outside investor. Semafor is buying back his interest and putting that money into a separate account while it raises new $$$https://t.co/3KQ5SwpDxQ — Ben Mullin (@BenMullin) …

The financial sandbox ar of the Bank of Spain, or Banco de España, has reportedly approved a project from fintech firm Monei testing a token linked to the euro. According to a Jan. 18 report from Spain-based news outlet Cinco Días, the Bank of Spain gave the green light to Monei to issue its EURM token as part of a testing phase expected to last between 6-12 months. The sandbox was aimed at establishing a controlled testing environment for financial innovations projects in Spain under the supervision of central bank authorities. As part of EURM’s testing phase, eligible Spanish residents …

Cryptocurrency lending firm Genesis Global Capital, a subsidiary of crypto conglomerate Digital Currency Group, is reportedly preparing to file for bankruptcy as early as this week. According to a Jan. 18 Bloomberg report, Genesis previously said it was considering a bankruptcy filing if it were unable to raise cash amid a liquidity crunch — a situation similar to that preceding crypto exchange FTX’s Chapter 11 filing in November. Citing people with knowledge of the situation, Bloomberg reported Genesis could file for bankruptcy as soon as this week. The report followed the United States Securities and Exchange Commission announcing on Jan. …