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NEAR

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-1.99%

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ALIBABA DITCHES METAVERSE CREW AS AI RAMPS UP So, the Chinese e-commerce giant Alibaba just slashed its metaverse crew, cutting dozens from the Yuanjing squad as they shift gears to focus on AI—classic tech pivot! Launched back in 2021 when metaverse hype was peaking, this unit’s getting a trim but ain’t disappearing completely. While they’ll keep the metaverse game alive, it’s clear the excitement is fading. Other big names like Baidu and Meta are also swapping virtual vibes for that sweet, sweet AI action. Source: CoinTelegraph

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NFT Comeback Vibes: October Saw 18% Rise In Sales The NFT game just shrugged off a 7-month dry spell, with October seeing an 18% sales pump which raked in $356M. That’s a clean jump from September’s $300M low - the weakest since NFTs went mainstream. Solana’s NFTs are going strong, logging $67M in sales and adding more to its $6B total haul. Collections like DogeZuki and Froganas brought the heat, keeping Solana as Ethereum’s closest rival. Source: Mario Nawfal

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RUSSIA DROPS THE HAMMER ON HOME MINERS Russia just clamped down on Crypto miners working from home, imposing a hard cap at 6,000kWh/month before you’re hit with permit fees. Go over that? You’re looking at a license, plus the tax office wants to track your wallets and stash. Moscow’s only letting the big players play with a registry that’s locked from the public eye but wide open for agencies like Rosfinmonitoring and the FSB. Russia’s rolling hard on BTC and ETH miners, keeping the ecosystem under heavy watch. Source: Mario Nawfal

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Riot Bags $84M Q3 Gains, Hash Rate Dreams Get a Reality Check Riot’s Q3 just popped off with $84.8M in revenue - a 65% boost from last year, even with Bitcoin’s halving crunch. With a juiced-up hash rate of 28 EH/s, they kept mining 1,104 BTC, on par with last year’s output. Despite these gains, Riot faced a $154.4M net loss this quarter, mainly from paper losses on stocks, depreciation, and stock-based comp. Source: Mario Nawfal

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