As the digital economy continues to expand rapidly. The UAE has strategically positioned itself to become a global hub for cryptocurrencies and blockchain technology. In a statement, Brian Armstrong, the CEO of Coinbase, one of the world’s largest cryptocurrency exchanges, expressed his confidence in the UAE’s potential to lead the way in the crypto space. […]
Crypto
At the turn of the year, bitcoin was in the grip of a bleak midwinter, down and out after a 2022 defined by tumbling crypto prices, bankruptcies and corporate scandals. Less than three months later, bitcoin’s got its mojo back. With gains of more than 70% so far this year, it has outpaced other major […]
Shares of crypto-focused companies fell on Thursday in premarket trading after Silvergate Capital Corp disclosed plans to wind down operations and voluntarily liquidate, as the aftermath of FTX’s implosion last year reverberates through the industry. Analysts said a complete closure of the crypto lender could take one or two years depending on how quickly outstanding […]
An industry body set out a global framework on Thursday for trading derivatives linked to cryptoassets to avoid FTX-style collapses sowing confusion over ownership. The International Swaps and Derivatives Association (ISDA) published guidance for trading digital asset derivatives to clarify what happens when things go wrong in an underlying market, such as the collapse of […]
Illicit use of cryptocurrencies hit a record $20.1 billion last year as transactions involving companies targeted by U.S. sanctions skyrocketed, data from blockchain analytics firm Chainalysis showed on Thursday. The cryptocurrency market floundered in 2022, as risk appetite diminished and various crypto firms collapsed. Investors were left with large losses and regulators stepped up calls […]
A $1.7 trillion government funding bill approved by the U.S. Senate Thursday will bolster U.S. regulators and make it easier for states to bring antitrust lawsuits. The Federal Trade Commission (FTC), which has a number of major technology investigations underway, will get $430 million in funding, $53.5 million over last year’s levels “to bolster antitrust, […]
The crypto winter that began earlier this year with Russia’s invasion of Ukraine has turned into a disaster with the recent FTX crash. While the ultimate fate of FTX and its creditors is not yet decided completely, it is not all doom and gloom. Telcos may have a significant chance to jump in and take […]
Goldman Sachs plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of the FTX exchange hit valuations and dampened investor interest. FTX’s implosion has heightened the need for more trustworthy, regulated cryptocurrency players, and big banks see an opportunity to pick up business, Mathew McDermott, Goldman’s […]
Crypto can enable financial inclusion and economic empowerment across the globe in many areas where financial services are either lacking or even corrupted. Users of crypto can bypass some international and banking restrictions and even have an alternative to storing and saving money. As it stands today, crypto is the wild west. However, large global […]
The crypto market has had a disastrous first half of 2022. Bitcoin and ethereum have dropped by more than half since their all-time highs in late 2021. While there have been some tiny gains in recent weeks, the cryptocurrency market as a whole remains relatively stagnant. While no one knows for certain, some analysts believe […]