FTX News: New CEO Takes FTX Reins While Metacade Surges in Presale

A public spat between the old and new CEOs of FTX has recently hit the headlines, but investors have not lost confidence in the future of Web3. Metacade, a brand-new project, is helping the industry move away from the FTX collapse, with significant success already during the first half of its presale.

More FTX news in the wake of the FTX collapse

After the FTX collapse in November 2022, Sam Bankman-Fried has struggled to stay out of the headlines. The most recent FTX news involving Sam Bankman-Fried relates to the new CEO, John Ray, of the former second-largest digital asset exchange in Web3.

John Ray recently stated FTX’s intentions to restart operations. Sam Bankman-Fried responded negatively, suggesting that John Ray is just paying lip service and should return all users’ funds if he is serious about his intentions.

In response, John Ray called Sam Bankman-Fried’s comments “unhelpful.” It remains to be seen whether the recent FTX news will have a positive result for thousands of users that lost funds on the insolvent exchange. Either way, the FTX collapse continues to produce fallout for the rest of the crypto markets.

Yahoo recently reported that BlockFi had over $1.2 billion in digital assets tied up in FTX and Alameda during the FTX collapse. BlockFi is a crypto custodian and cryptocurrency lending protocol that recently went bankrupt due to the FTX collapse, citing overexposure to the exchange as a core reason behind its insolvency.

FTX news continues to make headlines due to the extensive collateral damage of the event. As the second biggest cryptocurrency exchange at the time of the FTX collapse, the platform had many billions of dollars worth of user funds tied up that suddenly and without warning became inaccessible.

What does the FTX news mean for new projects such as Metacade?

The FTX collapse hurt many Web3 projects, but Metacade has continued unaffected. In fact, Metacade continues to go from strength to strength as the MCADE token presale reaches its half-way point. 

Metacade has raised $7.6m in 14 weeks since the presale went live. This is a testament to the promising long-term potential of the new GameFi platform, which will become the biggest project of its kind that can be found anywhere on the blockchain.

There are fundamental differences between a project like Metacade and a project like FTX. FTX is designed to hold digital assets for its customers, while Metacade is a decentralized application designed to provide gamers with financial rewards.

Metacade uses blockchain technology to provide a secure and tokenized gaming experience. Certik recently audited the platform to ensure that all smart contracts on the platform deliver safely, which is in stark contrast to FTX, where customer funds were mismanaged by the now disgraced former CEO, Sam Bankman-Fried.

What is Metacade?

Metacade is the first community-driven arcade on the blockchain. It will offer the largest arcade games out of any existing project, with each title having integrated financial rewards through play-to-earn capabilities.

Metacade is set to revolutionize the Web3 world by becoming a user-centered social hub, with users who can unlock lucrative earning potential through innovative mechanics. With Metacade, play-to-earn opportunities have never been more promising. 

How does MCADE work?

The metaverse arcade offers a comprehensive GameFi experience. Users can play solo and earn cryptocurrency rewards while progressing through endless levels in Metacade’s range of arcade games or join paid entry tournaments to win major prizes paid in MCADE.

The Metacade social hub takes crypto earning up a notch and will reward users for their community contributions. Content creators can post game reviews, share the latest insights about the blockchain gaming space and interact with other users, while earning a crypto income.

The project also shares new crypto jobs for Web3 with users through the Work2Earn feature. This will connect users to paid job opportunities with Metacade’s partner projects, ranging from part-time to full-time positions. Work2Earn aims to help users kickstart a career in blockchain technology. 

Metacade is helping crypto to move past the FTX collapse

Innovations such as Metacade can help expand the use cases for blockchain. The project is helping to improve sentiment across the crypto markets due to its unique and valuable services.

Not only that, but Metacade is also a fully secure investment opportunity and can help to rebuild trust following the FTX collapse. Despite the constant stream of FTX news, positive projects such as Metacade continue to attract investment due to long-term investor confidence in blockchain and Web3.

Is MCADE worth buying?

The MCADE token presale could be the best investment opportunity since the FTX collapse. The project has significant long-term potential despite negative FTX news, as investors have not lost confidence in Metacade’s ability to deliver a comprehensive GameFi experience using blockchain technology.

The MCADE presale will see the price of the token rise from $0.008 to $0.02, so investors should be quick to buy MCADE at the best possible price. Without a doubt, Metacade is helping to move the industry beyond the recent FTX news and into a more positive space. As a result, MCADE continues to attract major attention for its unique capabilities.

You can participate in the Metacade presale here.