No, Microsoft and Xbox’s Phil Spencer isn’t stepping down any time soon β€” here’s the truth

It can’t be made any better: this is a disappointing day for Xbox fans, as these layoffs come at a time when the game industry has been cutting back harshly for years. This news dampens the enthusiasm generated by Microsoft’s gaming brand, which had recently gained momentum from the Xbox Games Showcase and the announcement of the Xbox Ally handheld devices.

Bahrain’s Stablecoin Revolution: 1:1 Reserves and Sharia-Compliant Coins

Now, this is the first time Bahrain has clear regulations on stablecoins. The CBB intends to ensure that stablecoins are fully backed by real money. It hence demands that those who are issuing maintain a 1:1 reserve ratio. This implies that a stablecoin should be covered by an equivalent balance in money or quality liquid assets.

Banking on Thin Air πŸ€‘

This curious development, akin to a summer breeze on a winter’s night, has left many an observer agog with wonder. As the lawmakers of the land toil to impose order upon the unruly realm of stablecoins, AMINA has boldly taken the lead, like a brave pioneer charting unexplored territories. πŸš€

NEAR Token’s Wild Ride: 10% Surge, Profit-Taking, and a Bit of Bitwise Magic πŸš€πŸ’°

“The NEAR Staking ETP on Xetra opens a new bridge to NEAR for institutions by providing a regulated, exchange-traded way to earn staking rewards,” Illia Polosukhin told CoinDesk. “Investors can now dip their toes into the NEAR ecosystem and user-owned AI without the hassle of private keys or node operations, and with full price transparency. It’s like a VIP pass to the future, but with less tech jargon.” πŸ€“

Microsoft is closing down Xbox studio The Initiative, with Perfect Dark killed as well β€” joining Everwild and ZeniMax’s IP, and other unannounced projects

As an analyst, I’m reporting that Microsoft has announced a significant round of layoffs impacting approximately 4% of its global workforce across all divisions. Regrettably, the Xbox division appears to be bearing a substantial brunt of these cuts, with employees from various departments receiving termination notices today. Among those affected is the Xbox studio The Initiative, which unfortunately is being shut down.

Xbox is cancelling Rare’s ‘Everwild’ as part of broader cuts β€” and possibly even more

Although there’s been much speculation about potential cuts in Microsoft’s hardware division, it appears that the upcoming Xbox hardware line, including a possible successor to the Xbox Series X with potential Steam compatibility, has remained largely untouched by these changes. This recent round of layoffs doesn’t seem to have affected their next-gen Xbox hardware plans.