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Amazon’s ‘flywheel’ created a $2.4 trillion company — Netflix’s blowout earnings show how the streaming company is replicating the tactic

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More subscribers equal more revenue, which leads to more content investments, which lead to more engagement, which leads to more subscribers once again. And that’s before the ad business really starts clicking. Read More

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New Calamos ETF Promises 100% Downside Protection Against Bitcoin (BTC) Price Volatility

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An ETF promising 100% downside protection for volatility in the price of bitcoin hit the market on Wednesday. (Charlie Harris/Unsplash)

A new exchange-traded fund (ETF) by global investment management firm Calamos that promises to protect investors from the volatility in bitcoin’s price hit the market on Wednesday.

CBOJ, the first of three ETFs, provides investors with 100% downside protection while offering 10% to 11.5% upside potential over a one-year period, according to a press release. A representative of Calamos told CoinDesk that as of 12:11 p.m. ET, the ETF traded roughly 635,714 shares.

The other two funds, CBXJ and CBTJ, set to launch on Feb. 4, will provide 90% and 80% protection, respectively, with capped upside of 28% to 30% and 50% to 55%.

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Downside protection is achieved through investments in U.S. Treasuries and options on Bitcoin index derivatives. The upside cap is set annually, and the period is reset every year with new terms.

In simple terms, if an investor bought $100 worth of shares in the ETF, Calamos would put a percentage of that in Treasury bonds that would grow back to $100 over a one-year period, ensuring that regardless of where the price of bitcoin stands at the time, the investor has the full $100.

The rest is used to buy options linked to the price of bitcoin, allowing exposure to the cryptocurrency while not directly owning it.

This safety blanket doesn’t come cheap, however. The management fee for the ETFs is set at 0.69%, higher than that of other ETFs that invest in bitcoin. The average fee for U.S.-based ETFs is about 0.51%, making these ETFs a bit expensive for investors. However, the higher price might be worth paying for investors looking for safety from the volatile digital assets market.

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While “bitcoin maxis” and other investors believe in the long-term value increase of bitcoin, many, especially traditional institutional investors, worry about bitcoin’s volatility and periods of complete free-fall.

One question that may arise from the mechanics of the ETF is whether it would compete with MicroStrategy’s (MSTR) convertible bonds, as both offer some downside protections. However, according to CoinDesk analyst James VanStraten, that’s not the case. MSTR’s notes differ from Calamos’ ETF in that they don’t have a cap on the upside potential. If certain criteria are met, those get converted into equities, resulting in potentially higher risk but more upside.

ETFs protecting against the downside have, therefore, become a popular innovation by issuers in recent months, leading up to crypto-friendly President Donald Trump’s inauguration. This has spurred hope that many of those ETF applications will receive approval under the new Securities and Exchange Commission.

Crypto asset manager Bitwise revamped three of its futures-based crypto ETFs in October to include exposure to Treasuries to protect against crypto price drops. The funds will, therefore, rotate between investing in crypto and Treasuries depending on market signals.

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Kraken ramps up donations to Ulbricht amid $47M wallet rumors

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The Silk Road creator walked free on Jan. 22 after 12 years in prison. Wallets tied to him are rumored to be worth around $47 million.

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Robert Kennedy vows to keep vaccine suit share if confirmed as Trump health chief

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Robert F Kennedy Jr says he will keep his share of any windfall from litigation against pharmaceutical company Merck even if he becomes Donald Trump’s top US health official, ethics records show.

In an ethics agreement published on Wednesday, Kennedy said he would keep his share of potential winnings from the case brought by law firm Wisner Baum against Merck’s Gardasil vaccine, which prevents human papillomavirus, known as HPV.

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“I am entitled to receive 10 per cent of fees awarded in contingency fee cases referred to the firm,” said Kennedy, a co-counsel at Wisner Baum, in a letter to the top ethics tsar at the US Department of Health and Human Services.

Kennedy, a vaccine sceptic who Trump picked to be health secretary in November, said he was entitled to keep interests in cases that did not involve the US or in which the state did not have a “direct and substantial interest”.

The ethics records were published on Wednesday as Mike Crapo, the chair of the Senate finance committee, announced that Kennedy’s confirmation hearings would be held next Wednesday.

Kennedy, a scion of the famous Democratic political family, stressed that he was playing no direct role in the Merck case and pledged to avoid doing anything to sway the outcome if appointed as health and human services secretary.

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The first in a series of cases alleging that young people were injured by Merck’s vaccine is being heard this week in a court in Los Angeles. Kennedy first got involved with the legal effort against Gardasil in 2018.

The former Democrat, who endorsed Trump last year after mounting his own independent run for the White House, also said he would resign from his consulting role at Wisner Baum.

In separate financial records filed on Wednesday with the US Office of Government Ethics, Kennedy revealed $11.6mn in disclosed income over the past two years, including $8.8mn from his work as an environmental attorney at Kennedy & Madonna. He pledged to terminate his role at the firm.

Kennedy was also paid $856,559 by Wisner Baum over the same period, records show. He also held small stakes in biotechs Crispr Therapeutics and Dragonfly Therapeutics, according to the financial disclosures.

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The disclosures highlight the controversy around Trump’s decision to pick a vocal vaccine sceptic and campaigner to oversee the US health department — including its 13 divisions and agencies, such as the Food and Drug Administration and National Institutes of Health, which have sweeping influence over medicine regulation in the US.

The delay in Kennedy’s congressional hearing, which was originally planned for this week, has been taken by some in his camp as a sign that he could struggle to win approval from the crucial health and finance committees, whose endorsement he will need before a full vote in the Senate.

Some senators have raised questions about his record on vaccines and abortion, among other issues.

The litigation against Merck over Gardasil is among several high-profile anti-vaccine lawsuits Kennedy has been involved in. Gardasil is recommended as a routine jab for 11- and 12-year-olds by the federal Centers for Disease Control and Prevention, with 160mn having been distributed by the end of 2022, according to official statistics. Certain high-risk types of HPV can cause cervical cancer.

Kennedy did not respond to requests for comment. Merck said: “The plaintiff’s allegations have no merit, and we remain committed to vigorously defending against these claims.”

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Will Samsung's new Galaxy AI features come to older devices? Here's what we know

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  • The Galaxy S25 lineup is the first to get many new Galaxy AI features.
  • Samsung is currently “assessing which features” might arrive on other Galaxy devices.
  • Historically, Galaxy AI features have arrived in short order on older devices.

Samsung finally made the Galaxy S25, Galaxy S25 Plus, and Galaxy S25 Ultra official at its first Galaxy Unpacked event of 2025, and along with the new hardware, a number of new features for Galaxy AI were unveiled.

While the Samsung Galaxy S25 preorder deals are impressive, you might be reading this very news story on a Galaxy S24 Ultra, Galaxy Z Flip 6, or even a Galaxy Z Fold 6, and thinking that these are still pretty new phones – and wondering if some of these new features might be arriving on your device in a future update. Well, we already know that One UI 7 with call transcriptions will be arriving on the S24 lineup.

As for other AI-powered features such as Samsung’s Personal Data Engine, Now Brief, and improvements to generative image features, it’s not yet clear which devices these features might eventually land on.

Personal Data Engine is basically a dedicated core on the device for handling AI tasks and building out a personal large language model (LLM) to the phones owner, to help the AI serve up better suggestions and implement them. Now Brief is an app that changes through the day to show pertinent information.

Speaking to TechRadar, a Samsung spokesperson told us the company is “assessing which features” can come to which devices.

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Samsung Galaxy S25 in hand, Now Brief app

(Image credit: Future/Jacob Krol)

In full, Samsung states: “Nothing to share right now, but Samsung is committed to providing the best possible Galaxy experience to all our users, and we are assessing which features will be available on which devices.”

Clearly, the focus is on the S25 range, and it seems that a lot of these new Galaxy AI features were tailor-made for the new lineup thanks to the Qualcomm Snapdragon 8 Elite for Galaxy chip, which has a specific processor unit dedicated for AI tasks. That processor is paired with 12GB of RAM across the lineup – no more 8GB for the ‘standard’ model.

Samsung’s really aiming to integrate Galaxy AI throughout the entire phone, allowing it to learn how you use it and the other apps on it. Ideally, the Now Brief app will work with Galaxy AI at its core, and in the dedicated part of the processor acting as a personal LLM to serve up the right suggestions and cards to you. It could be that you have a busy day with a look at your calendar, a reminder that it’s someone’s birthday and to create a digital card, or even a suggestion about your commute home. In a demo, I also saw cards for the weather and even news stories that might interest you, but as with most AI features it’ll take some time for these features to learn your habits and routines.

The Galaxy S25 lineup follows the idea of ‘agentic AI’ that we’ve been hearing about, and will likely see more of in 2025. It remains to be seen how much of this relies on that new processor, or if Samsung can figure out a way to trickle this down further.

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Even so, the ability to ask Gemini to complete chain requests – for instance, asking when the next New York Jets game is, adding it to your calendar, and sharing that invite with a friend – seems like it could arrive on other devices, and should be easy to roll out to them with Gemini – Google has even confirmed that. Integrating Gemini with, say, Samsung Notes and other third-party apps will likely take a bit longer, but could likely be introduced via an update.

The same thought process could apply to the improvements to generating images, and improvements to Samsung’s native tool for removing people from the background of photos that were unveiled for the Galaxy S25 family. Samsung so far has a good track record of rolling its AI features out to older phones, so we’ll keep our fingers crossed and hope that some of these new Galaxy AI features trickle down.

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Church hit with £1,172 bill after installing smart meter, despite using heat just one hour a month

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Church hit with £1,172 bill after installing smart meter, despite using heat just one hour a month

A tiny Peak District church serving just six worshippers has seen its monthly electricity bills inexplicably surge from £15 to as high as £1,172 after installing a smart meter.

Saint Mary and Saint John Berkhamsytch in the hamlet of Bottomhouse has been hit with thousands in charges despite only using power for one hour each month.


Pam Ramsay, the church treasurer has spent the past year trying to convince Utility Warehouse to address the “nonsensical” bills.

The energy supplier insists the readings are accurate, even though the church only switches on electricity for its monthly 3pm service of hymn and prayer. The church has no plumbing or running water and relies solely on ten single-bar heaters to warm the congregation during services.

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Reverend Jane Held, who oversees this church along with eight others said: “It simply makes no sense as the church electricity is only turned on for about an hour every month.”

Energy bills increase

Held ensures the power supply is turned off at the main junction box after every service to prevent any additional usage

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The vicar explains that these “unbelievable bills” are paid using money from collection plates passed around during services.

Held explained she ensures the power supply is turned off at the main junction box after every service to prevent any additional usage.

Chris Ramsay, 75, a retired electrical engineer tested the church’s actual power consumption using a basic £20 power meter from Amazon. The readings showed each heater used between 1,211 and 1,217 watts during operation.

He said: “If the meter shows 1,000 watts it is equivalent to a 1kWh reading. That is the amount of electricity used in an hour.”

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With all ten heaters running for one hour monthly, the church uses approximately 12kWh per month.

While domestic users pay around 25p per kWh according to Ofgem, the church faces higher ‘non-domestic’ rates of 67p per kWh – meaning the actual monthly heating cost should be about £8.

The church’s standing charge has more than tripled, rising from 41p to £1.26 per day last May. This adds £39 to the monthly bill, even when the church is not using electricity.

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Despite the total monthly costs logically remaining under £50, the church faced shocking bills throughout 2024: £1,172 in March, £568 in February, £385 in August, and £254 in December.

The church estimates it has been overcharged by £3,000 in the past year alone.

Ramsay said: “What is actually going on is hard to fathom because when the meter was installed four years ago everything was fine. As recently as September 2023, we were being charged £14.16.

“But then readings started to go haywire. My own suspicion is there is something wrong with the way the meter is sending signals for what is used to the energy supplier.

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“Radio wave messages are somehow getting scrambled and not properly read – perhaps due to the church being situated in an isolated spot that is far from communication masts.”

Smart meter readings are transmitted via mobile phone and radio masts to Data Communications Company servers linked to energy suppliers.

Energy UK has revealed a regional divide in signal transmission methods, with the Midlands using cellular technology while northern England relies on radio frequencies. The church’s location may straddle both networks, potentially causing signal interference.

The £13.5billion smart meter rollout has faced various challenges, with one in ten meters going ‘dumb’ due to poor reception, thick walls, or battery failures.

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A Utility Warehouse spokesman responded: “We are sorry to hear about Ramsay’s concerns regarding the church’s bills. Following an engineer’s visit, we can confirm the smart meter is working correctly and recording energy usage accurately.”

The company says its customer service team has contacted Ramsay to discuss the account and arrange a manageable payment plan.

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Last Year’s Winners Are Losing Big in India’s Deepening Selloff

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Stocks that were among the biggest winners in India last year are seeing a poor start to 2025, as investors dial up scrutiny of whether reported earnings warrant the market’s lofty valuations.

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Elon Musk Plays DOGE Ball—and Hits America’s Geek Squad

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Elon Musk Plays DOGE Ball—and Hits America’s Geek Squad

Addressing a single executive order from Donald Trump’s voluminous first-day edicts is like singling out one bullet in a burst from an AK-47. But one of them hit me in the gut. That is “Establishing and Implementing the President’s Department of Government Efficiency.’’ The acronym for that name is DOGE (named after a memecoin), and it’s the Elon Musk–led effort to cut government spending by a trillion bucks or two. Though DOGE was, until this week, pitched as an outside body, this move makes it an official part of government—by embedding it in an existing agency that was formerly part of the Office of Management and Budget called the United States Digital Service. The latter will now be known as the US DOGE Service, and its new head will be more tightly connected to the president, reporting to his chief of staff.

The new USDS will apparently shift its former laser focus on building cost-efficient and well-designed software for various agencies to a hardcore implementation of the Musk vision. It’s kind of like a government version of a SPAC, the dodgy financial maneuver that launched Truth Social in the public market without ever having to reveal a coherent business plan to underwriters.

The order is surprising in a sense because, on its face, DOGE seems more limited than its original super ambitious pitch. This iteration seems more tightly centered on saving money through streamlining and modernizing the government’s massive and messy IT infrastructure. There are big savings to be had, but a handful of zeros short of trillions. As of yet, it’s uncertain whether Musk will become the DOGE administrator. It doesn’t seem big enough for him. (The first USDS director, Mikey Dickerson, jokingly posted on LinkedIn, “’I’d like to congratulate Elon Musk on being promoted to my old job.”) But reportedly Musk pushed for this structure as a way to embed DOGE in the White House. I hear that inside the Executive Office Building, there are numerous pink Post-it notes claiming space even beyond USDS’s turf, including one such note on the former chief information officers’ enviable office. So maybe this could be a launch pad for a more sweeping effort that will eliminate whole agencies and change policies. (I was unable to get a White House representative to answer questions, which isn’t surprising considering that there are dozens of other orders that equally beg for explanation.)

One thing is clear—this ends United States Digital Service as it previously existed, and marks a new, and maybe perilous era for the USDS, which I have been enthusiastically covering since its inception. The 11-year-old agency sprang out of the high-tech rescue squad salvaging the mess that was Healthcare.gov, the hellish failure of a website that almost tanked the Affordable Care Act. That intrepid team of volunteers set the template for the agency: a small group of coders and designers who used internet-style techniques (cloud not mainframe; the nimble “agile” programming style instead of the outdated “waterfall” technique) to make government tech as nifty as the apps people use on their phones. Its soldiers, often leaving lucrative Silicon Valley jobs, were lured by the prospect of public service. They worked out of the agency’s funky brownstone headquarters on Jackson Place, just north of the White House. The USDS typically took on projects that were mired in centi-million contracts and never completed—delivering superior results within weeks. It would embed its employees in agencies that requested help, being careful to work collaboratively with the lifers in the IT departments. A typical project involved making DOD military medical records interoperable with the different systems used by the VA. The USDS became a darling of the Obama administration, a symbol of its affiliation with cool nerddom.

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During the first Trump administration, deft maneuvering kept the USDS afloat—it was the rare Obama initiative that survived. Its second-in-command, Haley Van Dyck, cleverly got buy-in from Trump’s in-house fixer, Jared Kushner. When I went to meet Kushner for an off-the-record talk early in 2017, I ran into Van Dyck in the West Wing; she gave me a conspiratorial nod that things were looking up, at least for the moment. Nonetheless, the four Trump years became a balancing act in sharing the agency’s achievements while somehow staying under the radar. “At Disney amusement parks, they paint things that they want to be invisible with this certain color of green so that people don’t notice it in passing,” one USDSer told me. “We specialized in painting ourselves that color of green.” When Covid hit, that became a feat in itself, as USDS worked closely with White House coronavirus response coordinator Deborah Birx on gathering statistics—some of which the administration wasn’t eager to publicize.

By the end of Trump’s term, the green paint was wearing thin. A source tells me that at one point a Trump political appointee noticed—not happily— that USDS was recruiting at tech conferences for lesbians and minorities, and asked why. The answer was that it was an effective way to find great product managers and designers. The appointee accepted that but asked if, instead of putting “Lesbians Who Tech” on the reimbursement line, could they just say LWT?

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Shiba Inu whales rotate into PropiChain, bet on its AI edge

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Shiba Inu whales are rotating their profits into PropiChain, betting on its AI features and potential to rise.

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Shiba Inu (SHIB) whales make strategic moves by cashing out and rotating profits into new opportunities. As a result, SHIB has experienced a 3.12% dip in the past 24 hours. This shift in focus indicates a growing interest in projects that promise higher returns.

PropiChain (PCHAIN) is catching investors’ attention due to its unique AI features. The project has raised $2 million during the presale, with its token selling at $0.01.

Shiba Inu sees 883% outflows

Shiba Inu experienced a massive 883% increase in outflows, with large investors pulling out over 460 billion SHIB. Between January 15 and 16, the total Shiba Inu outflows grew from 647 billion to 1.11 trillion SHIB. This large-scale movement has left investors worried about its future price movement.

The significant outflows were driven by big investors cashing out and adjusting their positions. Some investors sold out their Shiba Inu holdings to protect their gains. This pushed Shiba Inu to drop, denoting a 10.84% decrease in the past week.

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Analysts believe Shiba Inu might have limited upside potential as new meme coins take the spotlight.

Whales bet on PropiChain and its AI features

Shiba Inu whales are betting big on PropiChain’s AI-driven altcoin. The project has raised $2 million during the presale and this is only scratching the surface as new investors join the fold.

At $0.01, PropiChain could be undervalued, making it a favorite among investors in the crypto space.

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Its appeal comes from real estate tokenization and fractional ownership features. This will create new opportunities for PropiChain’s users, as many of them will be able to buy portions of properties. The true impact of this model is that it allows them to diversify their portfolios and earn passive income through rental income.

However, PropiChain’s AI features are its secret weapon. The platform will allow for predictive market analysis, helping users spot lucrative real estate investments and capitalize on them before anyone else.

With its automated valuation models, users will benefit from fair and accurate property appraisals. This will allow buyers and sellers to close real estate deals faster as the pricing is provided by AI algorithms.

Additionally, smart contracts will be used to automate transactions such as auto-leasing and lease renewals. This process handles transactions on behalf of landlords and tenants, improving efficiency and reducing costs.

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PropiChain also incorporates the metaverse for virtual property viewing, allowing users to walk through properties in the digital space.

To maintain the safety of users and investors, PropiChain’s smart contracts have been rigorously audited by BlockAudit, a reputable Web3 security firm.

Shiba Inu and PCHAIN in 2025

While Shiba Inu has surged thanks to the hype around meme coins, PropiChain is counting on its AI features for a significant edge in 2025.

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The new altcoin is also benefiting from bull market rotations, where smart money rotates their profits from established altcoins. With a growing community of investors, PropiChain could be the dark horse of this bull market.

Investors scoop the PCHAIN token

PCHAIN could currently be one of the most undervalued tokens in the market. At $0.01, PropiChain provides growth investors with a low entry for potentially massive gains.

Due to its promising AI features, PropiChain has raised $2 million in its ongoing token presale. This is considered a stepping stone as it has been listed on CoinMarketCap, opening up an avenue to attract more investors. The listing serves as a reminder the AI-driven altcoin is committed to transparency and growth.

For more information on PropiChain, visit their website or online community.

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Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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OpenAI’s Stargate may be tech’s biggest gamble ever, but here’s what’s really at stake

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Stargate isn’t just a massive AI investment—it’s a high-stakes bet on technology, power, and future global dominance. Read More

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Celeste developers cancel follow-up game Earthblade

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Celeste developers cancel follow-up game Earthblade

Earthblade, the next game from the developers of Celeste, has been canceled. The fantasy-inspired game got its first trailer in late 2022, and the game would have let you explore a “free-roaming, dynamically-loading map,” Extremely OK Games’ Maddy Thorson said at the time. But the team decided to cancel the game in December after a team conflict and because of the pressure of trying to follow up on Celeste, Thorson says in a post detailing what happened.

The “disagreement” was between Thorson and Noel Berry (Thorson refers to the two of them as “us”) and Pedro Medeiros over “the IP rights of Celeste,” Thorson says. “We eventually reached a resolution, but both parties also agreed in the end that we should go our separate ways,” and Medeiros is currently working on a game called Neverway. “Losing Pedro wasn’t the only factor in cancelling the game, but it did prompt us to take a serious look at whether fighting through to finish Earthblade was the right path forward,” Thorson says.

The huge success of Celeste also “applied pressure on us to deliver something bigger and better with Earthblade, and that pressure is a large part of why working on it has become so exhausting,” Thorson says. “Pedro isn’t to blame for this — in fact the split with him has given us the clarity to see that we have lost our way, and the opportunity to admit defeat.”

Thorson and Berry want to refocus on “smaller-scale projects” and are “prototyping again” to try and “rediscover game development in a manner closer to how we approached it at Celeste’s or TowerFall’s inception.”

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