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Francisco Rodrigues
NFT Gaming

Australia’s Securities Regulator Taps Expert Trio to Probe ASX’s Operations

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Australia’s Securities and Investment Commission (ASIC) has turned to three of the country’s most seasoned finance figures to probe the inner workings of the Australian Securities Exchange, including the exchange’s doomed blockchain project.

ASIC launched the inquiry on June 16 over “ongoing concerns” it and the Reserve Bank of Australia expressed about the exchange’s ability to run stable and secure market plumbing.

Those concerns intensified when ASX scrapped a blockchain-based upgrade to its CHESS settlement engine in 2022, forcing a costly reset and drawing political heat. ASIC later sued ASX over making misleading statements on the project.

Rob Whitfield, a former Westpac chief risk officer and now a Commonwealth Bank director, will chair ASIC’s panel. Joining him are Christine Holman, who sits on the boards of utility AGL and restaurant operator Collins Foods, and Guy Debelle, a Reserve Bank of Australia’s former deputy governor.

The trio will inspect ASX’s governance, technical capability, and risk controls and recommend fixes for any weak spots.

Their brief stretches across the entire ASX group, which handles more than A$6 billion ($3.92 billion) in trades each day.

Read more: Australia’s Securities Regulator Sues ASX for Misleading Statements About Blockchain Project



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Bitcoin, Dogecoin Targeted as Norway Eyes Ban on New Crypto Mining Operations

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In brief

  • Norway’s government has said it is planning to impose a temporary ban on new crypto mining operations.
  • The country has cracked down on crypto mining before.
  • But the country’s ruling Labor Party also said power used for mining digital assets could be put to better use, including for community data centers, and blockchain. 

Norway is cracking down on Bitcoin—again. 

The country’s Labor government said in a statement Friday that it would investigate a temporary ban on new power-intensive crypto mining operations. According to the statement, the power used for mining digital assets could be put to better use, including for community data centers and blockchain. 

“During the fall of 2025, the government will explore the possibility of temporarily prohibiting the establishment of new data centers in Norway that extract cryptocurrency with the most power-consuming technology,” the statement read. 

The government added that “the useful use of blockchain technology and AI is also important,” and that it wouldn’t want to “impede innovation and development in areas that are useful to society.”

Energy minister Terje Aasland added: “By prohibiting power-intensive mining of cryptocurrencies, we can free up land, power and grid capacity for other consumption that contributes to a greater extent to value creation, jobs and cuts in greenhouse gas emissions.”



The statement did not reveal which cryptocurrencies it was concerned about and did not immediately respond to Decrypt‘s questions.

By far, the crypto mining industry mainly focuses on minting the leading digital asset, Bitcoin, but other large proof-of-work assets that require mining include Dogecoin, Bitcoin Cash, and Litecoin.

It wouldn’t be the first time the Scandinavian country has cracked down on crypto mining: In 2018, the country’s government ended electricity subsidies for Bitcoin miners. 

Moreover, despite an abundance of hydroelectric-generated power, Norway’s electricity prices have recently surged as the country absorbs energy costs stemming from declines in wind power among European neighbors via prior agreements with those countries. Governments around the world have previously cracked down on Bitcoin mining—most notably China, which experienced an exodus of miners to the U.S. after authorities banned the practice. 

Mining Bitcoin and other cryptocurrencies is a power hungry business. Operations are scattered around the globe. Miners typically flock to where they can find cheap electricity to fuel their set-ups: warehouses full of specialized computers that process transactions on a crypto network. 

Other industries, including AI, also use enormous amounts of electricity. 

Bitcoin was recently trading at about $103,755, roughly flat over the past 24 hours, CoinGecko data shows. 

Edited by James Rubin

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Scottish mobile developer Outplay Entertainment cuts 15% of staff to "align operations with current business realities"
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Scottish mobile developer Outplay Entertainment cuts 15% of staff to “align operations with current business realities”

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Outplay Entertainment has cut more than 20 jobs to “align [its] operations with current business realities.”

The Dundee, Scotland-based studio, self-described as “the largest independent mobile game developer in the UK,” states on its website that it employs 135 staff, although it’s unclear if this figure includes the 21 roles that have been laid off. That’s around 15% of its headcount.

In a statement to MobileGamer, CEO Douglas Hare said: “Earlier this week, Outplay made the difficult decision to restructure parts of the business, which has affected as many as 21 team members across several departments.

“This step was taken to align our operations with current business realities and to support a strategic shift toward partnering with publishers for future game releases.

“This was not a decision we took lightly,” Hare concluded. “We are incredibly grateful to the talented individuals affected, many of whom have made lasting contributions to our games and culture. We are doing everything we can to support them through this transition.”

Outplay develops a number of licensed mobile games, including Gordon Ramsay’s Chef Blast, Angry Birds Pop!, and Subway Surfers Blast.

Over 2200 developers have lost their jobs in 2025 so far, with cuts and closures at Freejam, Splash Damage, Piranha Games, Jar of Sparks, Ubisoft, ProbablyMonsters, Iron Galaxy, Sumo Group, Liquid Sword, NetEase Games, Toast Interactive, Night School Studio, Striking Distance, Ballistic Moon, Eidos Montréal, PlaySide, AppLovin, Nerial, Reality Labs, and, most recently, there have been multiple cuts at EA, including Respawn, as well as People Can Fly and Jagex.



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Michael Saylor’s Strategy Plans Stock IPO to Fund Bitcoin Buys, Operations

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In brief

  • Strategy is seeking to raise $250 million through preferred stock shares.
  • The shares that pay a 10% dividend will be used to buy Bitcoin and cover working capital needs.
  • Last week, the company acquired 705 BTC for $75 million, increasing total holdings to 580,955 BTC.

Strategy, formerly MicroStrategy, announced plans Monday to raise fresh capital by selling shares of preferred stock, with the proceeds earmarked for Bitcoin purchases and other operational expenses.

Operating as a “Bitcoin Treasury” company, Strategy is seeking  $250 million through an initial public offering of 2.5 million shares of its “10% Series A Perpetual Stride Preferred Stock” (STRD). 

The stock will be listed on the Nasdaq, with each share initially priced at $100, offering investors a 10% annual dividend yield, according to a recent filing.

“We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of Bitcoin and for working capital,” Strategy wrote in its Monday preliminary prospectus, supplementing an earlier January 27 filing.

The STRD offering represents Strategy’s third preferred stock issuance this year following its Strike (STRK) and Strife (STRF) offerings.

In March, the company increased the size of these offerings from $500 million to $723 million within days of their announcement. STRD’s new shares have a 10% annual, non-cumulative cash dividend, payable quarterly, starting September 30.

Preferred stock, such as Strategy’s STRD, STRF, and STRK offerings, refers to a hybrid “stake in a company, sold on exchanges like common stock,” asset management firm Fidelity explains.



It combines bond-like features with stock ownership, giving holders priority over common shareholders for dividend payments and asset claims, but typically without voting rights.

However, these dividends are not guaranteed or cumulative, so if they’re not declared in a given quarter, investors won’t get paid or recoup missed payments later.

Strategy has so far accumulated over $61 billion worth of Bitcoin, currently valued at roughly $106,000 each, according to data from CoinGecko.

Strategy sees its Bitcoin stash as being “long-term holdings” with the expectation of accumulating more.

There’s no “specific target for the amount of Bitcoin we seek to hold,” Strategy wrote in its prospectus filing, adding that it would continue to “monitor market conditions” to know whether it needs to add more Bitcoin or engage in more financing to do so.

Still, Strategy warns that a sharp decline in Bitcoin’s market value could hurt its ability to meet financial obligations, citing the potential for a “significant decrease” in its holdings to have adverse effects.

The company also notes that even unrealized gains on its Bitcoin could cause it to “become subject to the corporate alternative minimum tax,” a liability under the Inflation Reduction Act of 2022.

Edited by Sebastian Sinclair

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