Dogecoin is literally going to the Moon; The Sandbox (SAND) unlocked its $133 million token; CoinDesk cuts workforce as it prepares to sell shares
The DOGE-1 Lunar Mission, the first commercial lunar mission paid entirely in Dogecoin, has confirmed a launch date of November 15-20, 2023.
The mission, announced by Geometric Energy Corporation (GEC) and SpaceX in May 2021, will launch on a SpaceX Falcon 9 rocket as a rideshare on the Nova-C/IM-1 mission, a joint mission between Intuitive Machines and NASA.
The DOGE-1 Mission will include a 40 kg cubesat that will orbit the Moon and collect lunar-spatial information using on-board sensors and a camera.
The launch of DOGE-1 was originally scheduled for Q1 2022, but was delayed due to delays in SpaceX’s Nova-C mission.
The Sandbox (SAND) unlocked its $133 million token
Metaverse platform The Sandbox has unlocked 332 million SAND tokens, approximately 16 percent of its current circulating supply.
The Sandbox realized the token unlock as of August 14th. More than 300 million tokens were freed today, including 71 million for the project team, 37.5 million for advisors, 96.8 million for company reserves, 24 million for strategic sale buyers and 103 million for seed sale participants. Investors whose tokens were locked up until today will be able to sell them freely on the open market.
As is well known, token unlocking usually results in a downtrend in the price of a cryptocurrency, as it unlocks liquidity and frees it against the open market. However, SAND was also on a downward trend in the 30-day period before the unlock.
According to data from CoinGecko, SAND’s trading volume in the last 24 hours is over 106 million dollars.
On the other hand, the calendar leaves for SAND’s next unlocking show February 14, 2024. Until that date, about 205 million tokens will be frozen and will be allocated to the team, company reserves and consultants.
CoinDesk cuts workforce as it prepares to sell shares
CoinDesk is to make editorial layoffs ahead of a potential share sale.
CoinDesk CEO KevinWorth noted that some roles on the team will be affected. Other sources have claimed that between 16% and 45% of the staff will be laid off. A 45% cut means that around 20 people will lose their jobs.
The Wall Street Journal reported on July 20 that Matthew Roszak of Tally Capital and Peter Vessenes of Capital6 would buy $125 million worth of shares in the company.
All shares of CoinDesk are currently owned by Digital Currency Group, led by Barry Silbert.
DCG was among the major companies affected by the crypto winter. Genesis filed for bankruptcy in January, having run into financial trouble following the bankruptcy of 3AC, which owed DCG $1.1 billion. Gemini sued DCG for failing to recover assets from its partnership with Genesis.
The SEC sued Gemini and Genesis for unregistered sales of securities in January.