The founder of the collapse FTX expected to be extradited soon; SBF was preparing to appear before US Congress
cryptocurrency news
Bankruptcy
Domino effect: BlockFi files for bankruptcy following huge exposure to FTX
The liquidity crisis due to BlockFi’s exposure to FTX via loans to one of its affiliate companies Alameda, as well as cryptocurrencies trapped on FTX’s platform
crypto assets
Crypto insurance firms face massive surge in requests following FTX collapse
Alongside, the crypto market is also witnessing increased inter-segment collaboration, with e-wallet players such as Liminal joining hands with blockchains such as Polygon, Tezos and Avalanche to support them with safe and secure asset custody solutions
binance
Dubai’s crypto push in spotlight after $32bn FTX collapse
Dubai has positioned itself as a crypto-hub – what does that mean after the collapse of FTX?
Abu Dhabi
Binance chief Zhao seeks Middle East investors for crypto recovery fund
Zhao’s move comes after the world witnessed FTX’s bankruptcy earlier this month
binance
Zhao’s ‘recovery fund’ plan helps cryptocurrencies rise after the FTX disaster
Details not revealed, but the Binance chief tweets his intention of setting an industry recovery fund to “reduce further cascading negative effects of FTX”
Bitcoin
US seizes $1 billion in crypto from dark web drug marketplace
Supposedly the largest amount of illicit finds ever recovered by federal law enforcement, the bitcoins were stolen from the dark web
Blockchain
Crypto industry in UAE is a tsunami in the making, set to disrupt online commerce in a huge way, says expert
The Gulf country’s market is also expected to see several Google-Coinbase type partnership deals between the banking, fintech web3 ventures
Aiden Pleterski
Luxury cars owned by 23-year-old ‘Crypto King’ seized after $35 million investor money vanishes
The cars seized included BMWs, McLarens and a Lamborghini, still only worth a fraction of the missing investor money
Bitcoin
Concerned about crypto investments? Read all the top advice from experts during uncertain times
Is it time to buy or sell? Will crypto giants such as Bitcoin and Ethereum climb back to historic highs in the future or is this the end of an era? Here’s what industry experts have to say
Bitcoin
UAE’s BitOasis fires nine employees amid global crypto downturn
The move happens on the back of extreme volatility in the crypto market where major digital coins, including Bitcoin, were hit by a shop drop in valuation
blockchain technology
Is there light at the end of the crypto tunnel? Early musings after the market meltdown
The cryptocurrency pool will consolidate, with many digital coins disappearing, an expert told Arabian Business
binance
Crypto world braces for ‘furnace of fire’ as investors, regulators keep close watch
Bitcoin could take months to rally again, an analyst said
crypto assets
Fines, jail terms revealed for people dealing in unlicensed crypto payments or virtual currencies
People will be subject to imprisonment and a fine of up to AED 500,000, or one of the two, if they deal in virtual currencies that are not officially recognised in the UAE
Bitcoin
Job cuts and hiring freezes follow crypto crash as Coinbase, Bahrain’s Rain ‘make tough decisions’
Bahrain’s Rain has laid off dozens of employees; Winklevoss-brothers owned Gemini Trust has slashed 10 percent of its staff; and Coinbase has stopped hiring for the ‘foreseeable future’
binance
Cashing in on crypto: Bankers, lawyers switch careers as Dubai grows into global hub for digital currencies
This is not a blip or a bout of euphoria. Cities and markets that embrace this emerging sector will become what centres such as New York, London, and Hong Kong have been to traditional finance, the CEO of BitOasis said
Bitcoin
Secrets of success: A 28-year-old crypto millionaire opens up on bitcoin, ethereum, and getting rich
Former pilot turned YouTube celebrity CryptoJack discusses investments in Bitcoin and ethereum, the metaverse and Web 3.0 on the Spencer Lodge Podcast
