Crypto Long & Short: A U.K. Ban on Crypto Derivatives Will Hurt, Not Protect Investors

This week the U.K.’s Financial Conduct Authority (FCA), which regulates the country’s financial services, issued a ban on the sale of crypto derivatives and ETNs to retail investors. 

While this may not seem particularly material to crypto asset markets overall – U.K. retail investors weren’t that much into crypto derivatives anyway, and the market hardly reacted at all – it is worth paying attention to for the alarming message contained within.

This message loudly says: “We don’t like crypto assets.” 

In case you think I’m exaggerating, the policy statement opens with the sentence: “There is growing evidence that cryptoassets are causing harm to consumers and markets.” (Actually, there isn’t, and to see a financial regulator make such a bold claim with no supporting evidence is jarring.)  

The message itself is fine; not everyone likes crypto assets. But this is a financial regulator whose job includes protecting investors, not passing judgement on new asset groups. The documents accompanying the ban read like a reflection of the personal opinions of some senior members, and represent a gross overstep of the regulator’s mission and remit.

Ironically, this is exactly the type of unreasonable centralized control that crypto assets were created to circumvent. 

Too difficult

A secondary message, also alarming, says the FCA thinks retail investors are incapable of understanding new topics.

The reasoning is couched in a “for your own good” tone – the FCA assures investors it is preventing losses of between £19 million and £101 million a year. This in itself insults retail investors’ intelligence, as whatever method they used to calculate this figure produced too wide a band to be even remotely credible. I wonder how much the same retail consumers lose on the National Lottery every year. 

Let’s take a look at the five main reasons for the ban, according to the FCA bulletin.

1) First up is the “inherent nature of the underlying assets, which means they have no reliable basis for valuation.” Seriously, show me something that does in these markets. OK, that might be a slight exaggeration, but the idea that market prices respond to fair valuations went out the window months ago. 

Plus, crypto assets are a new type of asset. They don’t respond to traditional valuation methods, but this does not mean they don’t have any value drivers. Plenty of work is being done to deepen and spread understanding of what these are.

2) Second, we have the “prevalence of market abuse and financial crime in the secondary market (eg cyber theft).” You may recall that, at the end of September, leaked documents known as the FinCEN Files showed that the U.S. Treasury has labelled the U.K. a “higher risk jurisdiction,” because of the relatively high incidence of financial crime that has nothing to do with crypto derivatives.

3) The cited “extreme volatility in crypto asset price movements” is also an unjustified excuse. Crypto assets are volatile, but bitcoin’s volatility has been heading down over the years, and is not as volatile as some equities on which investors can buy derivatives. Yet you don’t see U.K. retail investors being banned from buying or selling Tesla derivatives.

tsla-btc-volatility

4) Throughout the statement, the FCA refers often to the “inadequate understanding of crypto assets by retail consumers.” This is just plain condescending. How do they know the understanding is inadequate? This assumption is tantamount to assuming retail investors are incapable of doing their own research and understanding the material. I’m certain there are many retail investors who understand crypto assets better than the FCA does. 

What’s more, FCA consumer survey results released in July of this year found that “the majority of crypto asset owners are generally knowledgeable about the product, are aware of the lack of regulatory protection afforded and understand the risk of price volatility.” The FCA’s own research shows that retail crypto investors have done their homework. Deciding that homework is “inadequate” seems an inappropriate step for a financial regulator to make, especially when no justification is offered.

5) And finally, perhaps my favorite one, we have the “lack of legitimate investment need for retail consumers to invest in these products.” Is it the FCA’s job to determine what the market needs? Does the market really need more equity ETFs? Many well-known investors, with long track records of respectability and rigor, have argued that crypto assets do fulfill a need for a hedge against inflation and financial turmoil.   

Too easy

As if more evidence was needed that this is not about a lack of disclosure or oversight and more about dampening interest in a new asset type, the ban includes Exchange Traded Notes (ETNs). This is likely to have a greater impact than the derivatives ban, as ETNs are a meaningful onramp into the crypto markets for retail investors. It is also more perplexing, as ETNs are much less risky than derivatives.

The risk profile is irrelevant, however. The FCA acknowledges that ETNs are sold with an information-packed prospectus, but even that “will not allow retail consumers to value crypto ETNs reliably.”

The FCA also acknowledges that ETNs trade on regulated exchanges. However, “retail consumers are still unable reliably to predict potential price impacts caused by issues in the underlying crypto asset markets” (as if it were easier in stock markets). This means, you guessed it, that they “cannot value them or the ETN reliably.”

And, ETNs are not leveraged. But that doesn’t matter, what is important is investors’ ability to value things correctly

Within bounds

You’re probably wondering why the ban didn’t extend to crypto assets themselves, when it’s obviously the assets that are the problem, not the packaging. 

The answer might lie in the same consumer survey mentioned above, which showed that 83% of U.K. residents that had purchased cryptocurrencies had done so through non-U.K. based exchanges. Perhaps the FCA realizes that an outright ban would be futile? Or perhaps the very same companies that finance the FCA (members of the U.K.’s financial services industry) have applied some pressure to save what could be profitable revenue streams in the future?

In banning derivatives, though, the FCA is failing in one of its principal remits. Making it harder for small investors to hedge their positions, and/or pushing investors to less regulated offshore platforms, does not sound like consumer protection. And removing the relatively safe onramps of ETNs from the range of crypto instruments available means that retail investors have to handle their own, possibly less secure, custody arrangements.

The ban is also hurting the crypto industry. Derivatives are an essential component of efficient markets. They help with price discovery by allowing expression of a variety of opinions, and they encourage liquidity by offering downside protection. Crypto derivatives are still available to institutional clients who dominate the markets, so the immediate impact is likely to be minimal. But measures like this exacerbate inequality, concentrating return opportunities in the hands of those that have financial power. Markets should not just be for the institutions. 

Note that the ban extends to self-certified sophisticated investors and high-net worth individuals, on the grounds that these investors stand to lose even more. The FCA has decided that these experienced and/or wealthy individuals do not have the right to use their own money to take on financial risk of their choosing.

Doing the work

Now, fair, crypto assets are tricky to value. Many theories abound, yet no one “knows” how to do it. We have here a young market with totally different fundamental drivers, running on a technology that spins off totally different data sets that analysts across the industry are digging into. 

This is one of the reasons we started our series of reports and webinars on crypto asset fundamentals, with a view to furthering the conversation about how to value crypto assets. It is also one of the most exciting aspects of our industry: the opportunity to “discover” uncharted (pun) territory in asset research, to set the bases for continuing exploration and to develop a new discipline in financial analysis. 

As our knowledge evolves, valuation models will emerge, with additional insight provided by granular data unavailable to investors in traditional assets. Crypto assets will eventually be seen as a much more transparent and information-rich type of investment than stocks, say. One day we will look back and marvel at how we trusted information provided by issuing companies themselves, audited by contracted service providers, sold on platforms with hidden or hard-to-understand fees. And the emergence of crypto assets and their unusual data sets is likely to have the biggest influence on investment valuations since Graham and Dodd unleashed their security analysis framework in 1934.

Investors’ inability to fairly value crypto assets is not the problem. The FCA’s lack of foresight is.

Anyone know what’s going on yet?

On Friday, bitcoin broke through $11,000 for the first time since mid-September, after a week languishing around $10,600.

coindesk-btc-chart-2020-10-09

This could partly reflect the weaker dollar toward the end of the week and the return of optimism to equity markets. It could also be as a result of the news that payments processor Square has purchased close to $50 million worth of BTC for its treasury – the purchase already happened, but the market seems to expect other corporations to follow suit.

Furthermore, it feels significant that the BTC price weathered several blows during the past two weeks (such as the criminal charges brought against derivatives exchange BitMEX, a notable hack on crypto exchange KuCoin and the disruption of stimulus talks in the U.S.) without notable declines.

performance-chart-100920-wide

Indeed, in spite of significant market news, bitcoin’s 30d annualized volatility dropped to levels not seen since the doldrums of the summer.

btc-volatiity

CHAIN LINKS

Payments company Square, led by Twitter CEO Jack Dorsey, has joined the ranks of companies putting part of treasury holdings into bitcoin. This week it revealed that it has purchased 4,709 bitcoins, a $50 million investment representing 1% of the firm’s total assets. TAKEAWAY: Square has done more than put part of its treasury into bitcoin. It has also written a how-to for other firms considering doing the same. This could end up doing even more as encouragement than the publicity around the investment, as I suspect that the idea of placing corporate funds on totally different rails, using unfamiliar intermediaries and confusing custody arrangements, must be terrifying for corporate treasurers. Square even explains how the holding will be accounted for on the balance sheet, detail I haven’t seen anywhere else.

Tumbling prices for many decentralized finance tokens have eased congestion on the Ethereum blockchain, bringing fees back down to August levels. TAKEAWAY: The problem has not gone away, however – fees are still well above the levels seen in the first half of the year, and may still exert a dampening influence on network growth. 

eth-fees

(NOTE: To learn more about the role fees play in the Ethereum ecosystem development, join us for a day-long virtual event focused on Ethereum and its upcoming update.)

The Chicago Mercantile Exchange (CME), the largest U.S. regulated market for bitcoin futures, has been sounding out cryptocurrency traders to gauge their interest in a listing of ether (ETH) futures and options. TAKEAWAY: Last year, the Chairman of the U.S. Commodity Futures Trading Commision (CFTC), Heath Tarbert, said on stage at a CoinDesk event that he expected to see ether futures in 2020. At the time, I expressed skepticism, mainly because of the uncertainty surrounding the upcoming Ethereum 2.0 launch. I will be happy to be proven wrong, however, as ETH futures on a regulated derivatives platform will give institutional investors more choices in framing their investment theses. 

Filings for the first half of this year show Charles Schwab Investment Management Inc. and two Vanguard funds purchased shares in crypto mining company Riot Blockchain. A handful of Fidelity funds invested in Riot, bitcoin mining services provider HIVE, mining company Hut 8 and Hong Kong-based digital asset platform BC Group. TAKEAWAY: This hints at a growing interest in listed companies with exposure to crypto asset markets, which can be held in a wider range of regulated funds than a direct crypto asset holding can. For deeper insight into some of these companies, check out our recent crypto industry company reports.

Ria Bhutoria of Fidelity Digital Assets explains the role of prime brokers in crypto asset markets – as with everything crypto, it’s different from the traditional counterpart. 

Investor Lyn Alden takes an analytical look at bitcoin correlations, and how the bitcoin price fares in times of positive vs. negative real yields, and the impact of stimulus package talks. Worth a read. 

Podcast episodes worth listening to:

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Guilty Gear Strive Release Date Announced for PS5, PS4, and PC

Arc System Works has announced that Guilty Gear Strive will be released on April 9, 2021, on PlayStation 5, PlayStation 4, and PC. For those who wish to upgrade to the Deluxe or Ultimate Edition, the game will be playable from April 6, 2021.The release date was given alongside a new trailer that promises that Guilty Gear Strive is “A Fresh Start for the Series” that began back in 1998 with the original Guilty Gear on PlayStation. This fighting game boasts a striking visual style with hybrid 2D/3D cell-shaded graphics. There will also be a fully voiced story mode that is said to bring the story of Guilty Gear, which spans over 20 years, to a close. There will also be new characters joining fan favorites and a robust rollback net code.

Guilty Gear Strive was originally set to be released in 2020, but it was delayed to 2021 due to the COVID-19 pandemic.

The roster includes such characters as Sol Badguy, Ky Kiske, May, Faust, Potemkin, Chipp Zanuff, Zato-1, Millia Rage, and Axl Low. As part of our IGN Expo, we revealed that Ramlethal Valentine will be returning to Guilty Gear Strive, a female fighter who specializes in controlling the mid-range, and uses two large swords as her primary weapons (carried by her flying Luciferos partners).

Have a tip for us? Want to discuss a possible story? Please send an email to newstips@ign.com.

Adam Bankhurst is a news writer for IGN. You can follow him on Twitter @AdamBankhurst and on Twitch.

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Ghost of Tsushima Will Be Playable on PS5 with 60FPS via Game Boost

Sucker Punch has confirmed that Ghost of Tsushima will be playable on PS5 on day one via backward compatibility, and PS5’s Game Boost will allow for the game to reach frame rates of up to 60FPS.Revealed on Twitter, Sucker Punch announced the details following PlayStation’s breakdown of the top backward compatibility questions. In addition to what was mentioned above, Ghost of Tsushima will also support save transfers and even faster load times. The quicker load times are an interesting, if obvious note, mostly because Sucker Punch previously said that it had to lengthen some of the game’s loading screens on PS4 because they were so fast and players were having a tough time reading the tips.

This bit of good news for those looking to get a PS5 also arrives alongside the news that Ghost of Tsushima: Legends, a free co-op mode, will be out on October 16, 2020.

Ghost of Tsushima: Legends is part of the version 1.1 update that will add a New Game+ with additional trophies and a Ghost Flower merchant, Armor Loadouts, a play time indicator, new options for Photo Mode, and more.

Ghost of Tsushima: Legends and Version 1.1 (New Game+) Screenshots

Oh, and perhaps most importantly, it will also let players in New Game+ use the Charm of Canine Recruitment to pet dogs and make them their allies a.k.a. their new best friends.Have a tip for us? Want to discuss a possible story? Please send an email to newstips@ign.com.

Adam Bankhurst is a news writer for IGN. You can follow him on Twitter @AdamBankhurst and on Twitch.

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Genshin Impact: How to Raise Your Adventure Rank

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In Genshin Impact, several in-game experiences are locked to your Rank. This is not your character level, which determines how strong your characters are, but your Adventure Rank, which tracks how experienced you are. Most Archon and Story quests are locked behind certain levels, as are some temples, certain character levels, and a host of other features.

Archon & Story Quests

These might be gated behind certain levels, but once you unlock them, they are the best way to boost your Adventure Rank, so you’ll want to do them as soon as they become available. These are essentially the ‘main’ part of Genshin Impact, so while this isn’t particularly clever advice – we’re basically telling you to play the game as designed – it would be stupid to ignore the fact that regular progression will add to your Adventurer Rank.

Daily Commissions

You will unlock these once you get to Level 10, but with a lot of Quests available at the start, you’ll come upon them naturally. Every day, there are four different mini missions available which give you XP, along with some resources. They mainly consist of ‘go here and kill six enemies’, so can all be swept pretty quickly. Doing them regularly and claiming the bonus for doing all four will slowly but surely tot up your Adventure Rank.

Complete Side Quests & World Quests

These are significantly shorter missions which don’t really progress the story in a meaningful way, you add some depth to the world and give you a chance to explore and discover new locations

Temples & Domains

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These too are locked behind varying levels as you progress, but are much shorter than Archon missions and so provide a quick boost to your Level. These are dotted around the map in blue diamonds, but some need you to complete a nearby puzzle before you can access them. You’ll also need Original Resin to claim the Temple rewards, which we’ll explain further down as they affect some other stuff too.

Bosses

In the Guide Book, there is a list of bosses, but some aren’t really what you’d expect. The earliest ones are floating spheres on the map, and when you travel to them, you can begin a challenge just like the Daily Commissions: kill seven enemies or something like that. Completing these nets you 100 XP a time, and while there’s not strictly a limit, you can only claim the rewards (and XP) with Original Resin. Again, we’ll deal with that at the bottom.

Explore The Map

Before you unlock the ability to do a lot of these things, your only real option is exploration. Luckily, opening chests or activating Teleporters or statues (both marked on the map even when inactive) all nets some minor XP. Concentrating on this side of things early makes fast travel easier and gets you to the good stuff a little quicker.

Original Resin

Original Resin is one of many currencies in the game, and is probably the most important for XP, as it’s needed for Bosses, Temples, and Domains. You start with 120 Original Resin each day, and it costs 20 each time to claim the rewards. So, that’s six, which means 600 XP. However, you can add six sets of 60 Original Resin each day; three sets of 60 (or 180 in one go) by using Fractured Resin, and another three sets of 60 (or 180 in one go) using 50 Primogems.

That sounds complicated, but it’s not too hard. You can use your Original Resin six times on any day, or 600 XP is on offer. If you have a Fractured Resin, you can buy between three, six, or nine more uses per day. You can also buy between three, six, or nine more uses per day with 50 Primogems each. That means 600 XP each day, plus potentially 900 XP from Fractured Resin and 900 XP from Primogems. You get six uses guaranteed, and can buy another nine with one currency another another nine with a different currency.

You also will ‘recharge’ one Original Resin for every eight minutes of play.

Adventure Rank Rewards

Every time you level up, returning to the Adventurer’s Stand will give you a minor Mona and resource reward. At Ranks 5 and 10, you’ll get 10 Acquiant Fates each, which is enough for an entire pack of whichever banner you want to pull; these are great for strengthening your team without spending real money.

At Rank 12, you unlock Daily Commissions

At Rank 14, you unlock the ability to send unused part members on resource hunting Dispatches

At Rank 16, you unlock online co-op

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Black man who police led by rope sues Texas city for $1M

A Black man who was led by a rope by two white officers on horseback has sued a Texas city and its police department for $1 million, saying he suffered humiliation and fear during his arrest

GALVESTON, Texas — A Black man who was led by a rope by two white officers on horseback has sued a southeast Texas city and its police department for $1 million, saying he suffered humiliation and fear during his arrest.

A lawsuit filed last week in Galveston County district court on behalf of Donald Neely, 44, alleged the officers’ conduct was “extreme and outrageous,” both physically injuring Neely and causing him emotional distress, news outlets reported, citing the court documents.

Photos of the August 2019 encounter showed Neely being led by the officers on a rope linked to handcuffs — reminiscent of pictures showing slaves in chains.

Neely, who was homeless at the time, was sleeping on a sidewalk when he was arrested for criminal trespass and led around the block to a mounted patrol staging area. In body-camera video, one officer could be heard twice saying that leading Neely by rope down city streets would look “bad.”

The lawsuit accused the city and the department of negligence, and stated that the officers should have known Neely would consider it offensive to be led on the rope “as though he was a slave.”

“Neely felt as though he was put on display as slaves once were,” the lawsuit stated.

In a statement at the time, Police Chief Vernon Hale called the tactic a “trained technique and best practice in some scenarios.” However, he said he believed his officers “showed poor judgment,” adding that the department since changed its policy to prevent use of the technique.

A Texas Rangers investigation determined the officers didn’t break the law. Neely’s criminal trespass charge was dismissed in court. His lawsuit also alleges malicious prosecution connected to the charge.

City officials declined to comment on the lawsuit to news outlets.

A status conference was set for January.

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Case against man linked to extremist group could be near end

Federal prosecutors and defense attorneys may be close to resolving the criminal case against a Maryland man whom the FBI linked to a violent white supremacist group

COLLEGE PARK, Md. — Federal prosecutors and defense attorneys may be close to resolving the criminal case against a Maryland man whom the FBI linked to a violent white supremacist group, a court filing says.

In Friday’s status report, Assistant U.S. Attorney Thomas Windom said efforts to resolve the case against William Bilbrough IV have been “slowed somewhat” by defense attorneys’ ability to confer with their jailed client and “the timing of facility mail,” an apparent reference to the jail.

“The parties expect disposition in this case within the next month. If no such disposition is achieved, the parties propose setting a deadline for an additional status report (on Nov. 9),” Windom wrote.

Bilbrough’s attorney, Robert Bonsib, declined to comment Sunday on the status of the case or WIndom’s court filing.

Bilbrough, of Denton, Maryland, was 19 when FBI agents arrested him and two other men in January as part of a broader investigation of The Base. Authorities said the three men were members of the group and that its goal was to accelerate the overthrow of the U.S. government and replace it with a white supremacist regime. Authorities in Georgia and Wisconsin also arrested four other men linked to The Base.

U.S. Army veteran Brian Mark Lemley Jr., of Elkton, Maryland, and Patrik Mathews, a former Canadian Armed Forces reservist, pleaded not guilty in Maryland to federal charges including transporting a firearm and ammunition with the intent to commit a felony. Bilbrough pleaded not guilty to charges that he helped transport and harbor Mathews, who is accused of illegally entering the U.S. from Canada.

U.S. District Judge Theodore Chuang hasn’t set a trial date for the case.

Lemley and Mathews discussed “the planning of violence” at a gun rights rally in Richmond, Virginia, in January, according to prosecutors.

Lemley and Mathews also face separate but related federal charges in Delaware, where they shared a home. A closed-circuit television camera and microphone that investigators installed in the home captured Lemley talking about using a thermal imaging scope affixed to his rifle to ambush unsuspecting civilians and police officers, prosecutors said.

“I need to claim my first victim,” Lemley said on Dec. 23, according to prosecutors.

“And the thing is you’ve got tons of guys who … should be radicalized enough to know that all you gotta do is start making things go wrong and if Virginia can spiral out to … full blown civil war,” Mathews said, according to prosecutors.

Bilbrough, who worked as a pizza delivery driver and lived with his grandmother, is the only defendant in the case who isn’t facing firearms-related charges. A prosecutor has said Bilbrough participated in early discussions about traveling to Richmond but had tried to distance himself from the group shortly before his arrest.

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Bugsnax Preview: Pokemon Snap, Island Mystery, and Hilarious Adventure

After months of humming the catchy theme song in my head, speaking to the Young Horses developers about bug and snack portmanteaus, and rewatching its mysterious first trailers, I’ve finally played and understand a bit more about Bugsnax. And while there is plenty of mystery left to the goings-on of Snaktooth Island and its denizens, my hour-long hands-on with the opening of the next game from the Octodad developers showed a mix of Pokemon Snap, Pokemon itself, an island-set mystery adventure, and a hilarious character study.That all sounds like a lot, but it’s because Young Horses, like it did with Octodad, is taking something seemingly light-hearted on the surface and imbuing it with a depth that has me excited to return to Snaktooth and discover new Bugsnax and characters.

We Are Whatever We Eat

One of the key reasons I’m excited to explore more beyond the couple of environments I saw in the opening hour on a PC build of the game is, quite simply, the hilarious writing and character performances. This isn’t a huge surprise considering how funny Octodad was, both in its writing (despite a protagonist who couldn’t speak) and in its gameplay. But Bugsnax’s more expansive tale of a journalist adventuring to the mysterious Snaktooth Island at the behest of Elizabert Megafig, an explorer hoping to uncover the mystery of the titular bug and snack hybrids, allows for a host of immediately indelible personalities. In my short time with the game, I met the panicky Filbo Fiddlepie (One-Punch Man’s Max Mittelman), the gossipy Beffica Winklesnoot (Persona 5’s Cassandra Lee Morris), and the Bugsnak-loving inventor Gramble Gigglefunny (Critical Role’s Sam Riegel).

Like a snack-obsessed Dr. Seuss village, the cast of Bugsnax offers a constant flow of hilarious, unique, and intriguing perspectives on the island, its snax, and its other citizens thanks to both the impressive voice cast and sharp, funny writing. From small touches like the hilarious exclamations of each Bugsnak saying its own name when you catch it, to the reasoning of gruff farmer Wambus Troubleham (Fred Tatasciore) as to why he grows ketchup, Bugsnax had me laughing out loud several times and otherwise chuckling along to the wacky world I found myself in.

Bugsnax had me laughing out loud several times and chuckling along to the wacky world.


But I was also interested in learning more about these characters and the island, which is a good thing, because as a journalist, you’re on the hunt for the scoop behind Elizabert and Bugsnax. You’ll interview each of the citizens for your story, while also speaking, working with, and, as in one example, even spying on them to complete missions. An unexpected main mission becomes bringing the scattered group, lost for purpose in the wake of Elizabert leaving, back to the central Snackburg, a small village that repopulates and acts as a hub between many of the island’s other locales, including a rocky beach, a forest clearing and its neighboring caves, and more I didn’t get to explore.

Confirmed PlayStation 5 Games

Kinda Bug and Kinda Snack

Of course, exploring is also a main facet of Bugsnax, as you’re not there just to make friends. Roaming around in first-person, Bugsnax plays largely familiarly to other first-person adventures, as you run, jump, and crawl around on whatever mission or whim you choose. Clicking in on the right stick kicks in a viewfinder, that not only identifies the various Bugsnax around you but also makes note of key items in the environment, such as a bush bugs may hide in, ketchup plants, people, and even the paths the Bugsnax roam in.

And tracking their movement like you would a robotic foe in Horizon Zero Dawn is important, not because you are then going to systematically dismember the Bugsnax — that would be terrible and cruel. But because each one behaves differently and will require you to approach in different ways if you want to trap them.

Each Bugsnak behaves differently and will require you to approach in different ways if you want to trap them.


Strabbies, for example, will go hide in one of those bushes if you get too close, otherwise they roam in a loop nearby. Once I scared one away, I’d stick a trap down in one of the identified paths, and then run away, hoping to lure it back out to trap it. The Fryder, which I spotted on a cave rooftop, is attracted to the smell of splattered ketchup, but so were the nearby Bungers, which can only be caught when flipped on their backs.

By pulling up a radial wheel, which freezes time, you can easily swap between traps, slings to throw sauces, and more to help in your Bugsnak-catching ventures. It takes away any of the frustration, at least so far, that might come with this natural habitat interacting without you, and especially because once a snak is trapped you only have a few seconds to claim the trap before they break free. But I loved the discovery that came with each new creature — understanding its patterns, being surprised by how it might react to the world around it, and using all of my items, and maybe even some other bugsnax, to aid in catching them offered layers to what could have been an otherwise simple catching mechanic.

And there’s clearly some more complexity to the hunt to come, as I only had a few of the tool slots filled up in both that item wheel and in my extensive notebook, which acts as a sort of Snakdex for any and everything on Snaktooth Island. Toward the end of my demo, I ran into Gramble, who had trained a Strabby to follow directions while running around in a little hamster ball. Handing the reins over to me, Strabby opened me up to a whole new set of creatures to catch, as I could send his ball into small holes I couldn’t reach, which would incite hidden Bugsnax to brave the world for just a moment before I set a trap on them.

Knowing the basics of what Bugsnax is now, I know I’ve really only uncovered the start of the mysteries Snaktooth Island holds. Like with Octodad, Young Horses is blending the familiar and the absurd with Bugsnax, and while getting to play the game has addressed some questions I had, it raises new ones about who all of these Snaktooth Island denizens are, why they’re here, and how am I going to catch the next Bugsnak I find. And I’m excited to make a return trip to uncover every last answer.

Jonathon Dornbush is IGN’s Senior News Editor. Talk to him on Twitter @jmdornbush.Source

Funeral held for Arkansas detective who was fatally shot

An Arkansas police officer who was fatally shot earlier this week was remembered by officials, friends and family for his dedication to his job and community

PINE BLUFF, Ark. — An Arkansas police officer who was fatally shot last week was remembered by officials, friends and family for his dedication to his job and community.

The funeral for Pine Bluff Detective Kevin Collins, who was killed Monday in an exchange of gunfire at a hotel during an investigation, was held Saturday at the Pine Bluff Convention Center.

Pine Bluff Mayor Shirley Washington said Collins, 35, was a “commanding force and a gentle giant” known for his professionalism, diligence, vision and determination. She said Collins, who served as her driver and escort, was like an extension of her family.

She said he “could not stand to see wrong and not put forth the effort to make it right.”

Pastor Matt Mosler said Collins worked as a security guard at the New Life Church campus in Pine Bluff, and he could often be found holding babies and encouraging teens.

“Kevin became part of the family — an indispensable part of our family,” Mosler said.

Authorities have said police officers were met with gunfire on Oct. 5 as they arrived at the hotel. Collins was killed and another officer was wounded.

Keshone Quantarious Smith, 19, who was wanted on a murder charge in Georgia, was arrested on suspicion of capital murder in Collins’ death. He remained in jail Sunday in Arkansas, where he was denied bail.

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