Sandbox founder resigns and lays off 50% of staff, de-emphasizing Metaverse business and shifting to Web3 applications and Launchpad plans

2025/08/28 10:29

PANews reported on August 28th that The Sandbox founders Arthur Madrid and Sébastien Borget have stepped down from day-to-day operations, with Animoca Brands executive Robby Yung taking over as CEO. Borget will serve as a global ambassador, while Madrid will become non-executive chairman. Concurrently, the company is laying off over 50% of its staff, affecting teams in Argentina, Uruguay, South Korea, Thailand, and Turkey. The company also plans to close its Lyon, France, office, with further layoffs in Paris. This restructuring is seen as a strategic realignment driven by technological advancements.

In addition, The Sandbox is gradually de-emphasizing its metaverse business and turning to broader Web3 applications, including the memecoin launch platform based on Base.

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PANews reported on August 28th that Guotai Junan International Holdings Limited (stock code: 1788.HK) has officially launched a cryptocurrency trading service for Hong Kong investors, according to its official website. This service combines cutting-edge technology with strict compliance standards to meet growing investor demand for the digital asset market and provide a brand new trading experience. Users can quickly open a cryptocurrency account through their Guotai Junan Securities (Hong Kong) Limited account, eliminating the cumbersome process. The service supports 24/7 trading and covers a variety of currencies, including Bitcoin, Ethereum, Avalanche, Chainlink, and Solana. Professional investors can also choose from Ripple, USDT, and other USD stablecoins. Earlier news reported that Guotai Junan International was approved to provide virtual asset trading services such as cryptocurrencies .

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PANews

2025/08/28 16:42

Blazpay Partners with Okratech Token ($ORT) to Elevate AI Utility and Web3 Ecosystem

Blazpay taps Okratech token ($ORT) to enhance AI-powered Web3 utility by driving secure, seamless, and rewarding decentralized finance (DeFi) innovation.

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Blockchainreporter

2025/08/28 16:00

Sandbox founder resigns and lays off 50% of staff, de-emphasizing Metaverse business and shifting to Web3 applications and Launchpad plans

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