🚀 Apple Terminates Epic Games

Market Overview
Read time 1.6 minutes

Year To Date Performances:

1. The conflict between Apple and Epic Games has escalated with Apple terminating Epic's developer account, citing previous contract violations by Epic as the reason. Epic Games argues that this action by Apple is a significant breach of the Digital Markets Act (DMA) and accuses Apple of retaliating against them for their criticism of Apple's policies and their advocacy for open competition on iOS devices. Epic has expressed its intentions to comply with Apple's rules but alleges Apple is attempting to eliminate them as a competitor and send a warning to other developers. Apple defends its decision by referencing a court judgment that grants them the right to terminate Epic's account due to past breaches of contract. This ongoing dispute highlights the tension between major tech companies over app store policies and competition laws.

2. Sorare, a Web3-enabled fantasy sports platform, has recently laid off 22 employees from its New York office, aiming to centralize certain functions at its Paris headquarters for better collaboration and efficiency. The decision primarily affects the product development team, which Sorare believes will benefit from being consolidated in Paris. Additionally, 11 employees from the New York office were offered relocation to Paris, with the company planning to hire more than 20 roles in the next six months to backfill the positions of those laid off. Despite these layoffs, Sorare's New York office will remain operational, focusing on U.S. customer relations and brand partnerships with sports leagues such as MLB and NBA. The layoffs were not financially motivated, but rather a strategic move to align with the company's growth trajectory, which has been adjusted due to the extended timeline for reaching its goals. Sorare continues to engage an active community and maintains partnerships with major sports leagues, despite the broader downturn in Web3 and gaming startups.

3. Visa and Mastercard agree to historic $5 Billion Settlement! In a groundbreaking move for the payment industry, Visa and Mastercard have come to a historic $5 billion settlement, marking a pivotal moment for small business owners. If you are a small business owner, claim your share today!*

4. Headlines

   1. Bitcoin is pushing towards an all-time high after falling over 10% in a 24-hour period earlier this week.

   2. Trump and Biden seem guaranteed their respective party’s nominations after their Super Tuesday results.

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