Overview of Crypto News
- Sega pulls back from blockchain gaming
- Bitfinex recovers more stolen assets
- BarnBridge DAO members told to stop all work amidst investigation; Lightning Labs releases tools for Bitcoin Lightning & AI Devs
Sega Pulls Back From Blockchain Gaming
Sega, once seen as one of the strongest advocates of GameFi and blockchain gaming, is pulling back from the sector. According to Bloomberg, it will withhold its biggest franchises from third-party blockchain gaming projects to avoid devaluing its content. Co-Chief Operating Officer Shuji Utsumi also shelved plans to develop its own blockchain-based games – at least for now, he said. Utsumi was also non-committal about employing Web3 technology, saying: “We’re looking into whether this technology is really going to take off in this industry, after all.”
Bitfinex Recovers More Stolen Assets
Bitfinex announced that it recovered additional stolen assets from the 2016 hack. The United States Department of Homeland Security (DHS) provided $312,219.71 in cash and 6.917 BCH to Bitfinex. Under the terms of Bitfinex’s contractual obligations to token holders, these amounts will be used to redeem the Bitfinex-issued Recovery Right Tokens (RRTs). Chief Technology Officer Paolo Ardoino commented on this news by saying: “We look forward to recovering as much of the stolen bitcoin as we possibly can and redistributing that to holders of the tokens that were issued in response to the hack in 2016.”
BarnBridge DAO Members Told To Stop ‘All Work’ Amidst Investigation
In a July 6 post on BarnBridge DAO’s Discord channel, Douglas Park – a lawyer for the decentralized autonomous organization – told members to pause “all work” related to the project due to an investigation launched by US Securities and Exchange Commission (SEC). He added that existing liquidity pools should be closed, no new ones should be opened and individuals should no longer be compensated for any work on related products until further notice.
