Bitcoin prices shot up in early trading hours on Monday, April 28, to cross the $94,000 mark, touching $94,083 briefly, gaining close to 8% in 7 days
Digital asseets
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Abu Dhabi
ADX-listed Phoenix Group reports record $167mn profit in 2024, mining revenue up 236%
The company’s mining revenue surged to $107 million in 2024, up from $32 million in 2023 and $5.4 million in 2022
Blockchain
Dubai developer DAMAC, MANTRA collaborate to tokenise $1bn in real-world assets
The Dubai developer’s assets in the Middle East will be available early this year on the MANTRA chain
Bitcoin
Hackers steal $2.2bn in crypto in 2024 amid Bitcoin bull run: Report
The number of individual hacking incidents increased from 282 in 2023 to 303 in 2024, resulting in these losses
blockchain technology
Dubai digital asset venture Scintilla announces new upgrades to tokenisation engie
Post-acquisition, the company is to offer a comprehensive suite of services, including structuring, issuance, distribution, and listing to drive innovation in tokenizing real-world assets
Bitcoin
Bitcoin price hits all-time high as cryptocurrency market rides on Trump victory wave
With institutional investors said to be positioning for further upside, the flagship digital asset is projected to reach an all-time high of $85,000 in the short-term, market experts said
Cryptocurrency
US election: UAE, Middle East investors turn to gold, equities as election remains impossible to call
Cryptocurrencies are gaining traction as a diversification tool, especially among younger investor demographics who are keen on digital assets
Crypto Adoption
UAE court ruling opens door for crypto benefits, not salaries yet
While this decision marks a significant step towards crypto adoption, it stops short of allowing full salary payments in digital currencies
Central Bank Digital Currency (CBDC)
ICAEW partners with UAE Banks Federation to help firms navigate booming digital assets landscape
The partnership aligns with the UAE’s advanced Central Bank Digital Currencies (CBDCs) pilot, as the digital assets market nears $80 billion by 2024
Crypto trading
The adoption of digital assets exemplifies the UAE’s pioneering philosophy
The UAE’s favourable regulatory environment is an instrumental pillar of its success as its understanding of the importance of policy reform enables it to remain competitive while nurturing its economic success
Digital asseets
RAK DAO partners with Phoenix Group, IOPn for $100mn investment to boost Web3 innovation
The investment is to stimulate innovation and attracting top-tier professionals to the region
Bahrain
Crypto payments regulation: Time for a Singaporean approach?
To foster business-friendly environments, regulators should consider several key actions
Bitget
Leading crypto exchange Bitget to launch synthetic dollar USDe in partnership with Ethena Labs
Since its inception, USDe has seen its supply skyrocket to over 3.5 billion, with more than 215,000 users
Digital asseets
Liminal Custody to expand footprint in MENA with new office in Dubai
The expansion enhances Liminal’s existing presence in the region, which includes a Financial Services Permission licence from ADGM’s Financial Services Regulatory Authority
Blockchain
Blockchain network HAQQ reveals plans for gold-backed stablecoin, tokenised sukuk to boost Islamic interbank market
The move comes close on the heels of the UAE central bank approving issuance of stablecoin regulation
Bitcoin
DIFC Courts clarifies cryptocurrency legal status in landmark Bitcoin ruling
The DIFC Courts ruled in the high-profile case, which centred on the loss of 300 Bitcoin
AB Majlis
AB Majlis podcast: A deep dive into the crypto industry’s road to redemption – In conversation with Chainalysis
Arushi Goel and Nicola Buonanno offer expert insights on tackling crypto crime and regaining public trust on the latest episode of AB Majlis