Digital Assets

Cover Story: Why digital assets are key for the financial sector

Digital assets can unlock opportunities with immense potential for the financial services industry, allowing fintechs to offer their clients a host of benefits

Inery

Inery acquires investment from Metavest at $128m valuation

The company aims to expand its use cases – particularly in GameFi, where it seeks to explore the full potential of gaming industry

Ethereum

Ethereum completes long-awaited energy-saving ‘Merge’ upgrade

Ether surged more than fivefold in 2021, outperforming Bitcoin by a wide margin, in part on optimism over the Merge

Bitcoin mining revenue gauge declines to the lowest in two years

The largest cryptocurrency by market value has dropped almost 60 per cent this year to around $19,000

Crypto Oasis

Crypto Valley Association, Crypto Oasis team up to boost blockchain development in the Middle East

The alliance with Crypto Oasis will help build bridges, share knowledge and enable an exchange between crypto-passionates in Switzerland and Middle East

Crypto market cap sinks below $1tn, Bitcoin near 2022 low

The largest digital token has shed more than 6 per cent so far this week

Nigeria

Nigeria, Binance in talks for digital city to develop blockchain

Nigeria is targetting digital technology as a means to help diversify the economy away from crude oil

Bitcoin

Bitcoin loses momentum on weekend with support around 2017 high

Bitcoin dropped as much as 0.8 per cent to $19,591 on Sunday and was little changed as of 7.50am in New York

Rain Financial

Coinbase-backed crypto firm Rain Financial cuts jobs

The staff cuts were made to reflect the operational needs and market conditions

Virtuzone Binance

UAE’s Virtuzone to accept cryptocurrency payments via Binance Pay

Via this partnership, Virtuzone seeks to advance the use of cryptocurrencies and blockchain technologies in the country

Inery

Inery Blockchain launches its first public testnet

The Inery public testnet will allow developers to test the different functions and features of the blockchain

Bitcoin back down to around $20,000 after Jackson Hole caution

Numerous strategists have flagged $20,000 as a key point for Bitcoin

Abu Dhabi blockchain

Abu Dhabi outlines blockchain and virtual assets strategy

The Abu Dhabi Blockchain and Virtual Assets Committee emphasised the significance of regulating blockchain and virtual asset operations to adhere to anti money laundering

DBS Exchange

DBS Exchange says Bitcoin trading surged amid global selloff

The quantity of the world’s largest token, Bitcoin, bought on the members-only exchange was four times higher than April

Bitcoin

Bitcoin nurses losses as momentum gauge flashes price warning

The largest crypto was little changed at $21,330 as of 7.40am in London on Monday

Bitcoin

Bitcoin continues retreat as 200-week average takes focus again

Cryptocurrencies have been battered this year as the Fed hiked rates amid elevated inflation readings

Wissam Breidy

Lebanese media star Wissam Breidy joins Dubai-based Crypto Oasis

The partnership will help break new ground and drive awareness about blockchain technologies in the Arabic speaking community

Bitcoin miners

Largest Bitcoin miners lost over $1bn during crypto crash

Core Scientific, Marathon Digital Holdings and Riot Blockchain posted net losses of $862m, $192m and $366m, respectively

Bitcoin June

Bitcoin tops $25,000 for first time since June amid crypto rally

The largest cryptocurrency rose as much as 2.2 per cent on Sunday to $25,031, its highest level since June 13

Ether leads crypto market surge after CPI report release

Ether leads crypto market surge after CPI report release

Ether’s native token, the second-largest cryptocurrency by market capitalisation, rose around 8 per cent to trade at $1,828 as of 10:17am in New York

PwC launches UAE cryptocurrency report, identifies three-stage facilitative model for regulation

PwC publishes UAE cryptocurrency report, identifies three-stage model for regulation

The UAE is one of the fastest growing cryptocurrency markets in the world generating transactions worth $25bn

Crypto

Crypto Bridge Nomad drained of nearly $200m in security exploit

The software system was drained of funds over hours and in small batches by various accounts, blockchain data shows

Bitcoin market

Bitcoin sinks to one-week low amid bout of global market nerves

The largest token dropped as much as 5.4 per cent on Tuesday in Asia and was trading at $21,073

Dubai Police NFT

Dubai Police to release second NFT collection during Gitex 2022

The collection features 150 free digital assets that symbolise the force’s innovation, security and communication values

Dubai Racing Club to launch a one-of-a-kind NFT artwork collection

Dubai Racing Club to launch NFT artwork collection

The NFT digital artwork collection has three categories – Dubai Sprinters, Hall of Fame and DWC Runners

Crypto Myths

Insights: It’s time to dispel these crypto myths and misconceptions

As with any new technology, some misconceptions remain over cryptocurrencies. Here are the three most common ones

altcoins

Crypto altcoins lead push higher as Bitcoin jumps above $22,000

Ether jumped as much as 10.7 per cent on Tuesday in Asia, while Solana added 13 per cent and Polkadot about 7 per cent

Crypto trading

Crypto trading volume tumbled in June to the lowest since 2020

The drop-off in trading volume has taken place across many platforms, including Binance, OKX and FTX

Bitcoin

JPMorgan says Bitcoin cost of production may be down to $13,000

Bitcoin has struggled since hitting a high near $69,000 in November

OKX

Crypto exchange OKX gets Dubai licence, set to open hub in city

OKX has been granted a provisional virtual assets licence to provide services to qualified investors in the UAE