U.S. cryptocurrency exchange Coinbase has stated that the majority of terrorist funding still relies on traditional financial systems, such as cash, rather than cryptocurrencies. This comes in response to claims that the crypto industry facilitates transactions for malicious players. While some crypto stakeholders have highlighted their efforts to combat the illegal use of crypto for […]
Standard Chartered is taking a step-by-step approach to expanding its services globally, starting in Dubai. The bank’s presence in Asia, Africa, and the Middle East allows it to offer services worldwide through the Dubai International Financial Centre. As long as there is jurisdictional equivalence and the necessary licenses, Standard Chartered will onboard clients from other […]
Major cryptocurrency exchanges and businesses are flocking to the Persian Gulf region, attracted by the progressive regulatory frameworks in countries such as Dubai, according to Alex Chehade, the general manager of Binance FZE. Chehade highlights the regulatory certainty and clarity in the Middle East, with Dubai having a virtual-asset-specific regulator and the acceptance of cryptocurrencies […]
BlackRock CEO Larry Fink believes that Bitcoin and other cryptocurrencies are now seen as safe-haven assets in times of geopolitical uncertainty. Fink suggests that the recent rally in Bitcoin’s price indicates that investors view it as a mature asset that can store value during crises. He attributes the rally to a flight to quality, driven […]
BRICS countries, including China, India, Saudi Arabia, and the UAE, are shifting away from the US dollar in their oil trade dealings with Russia. By settling trade in their local currencies, such as the Chinese Yuan and the Indian Rupee, these nations have saved billions of dollars and raised concerns about the future of the […]
In a recent interview, Evan Cheng, CEO of Mysten Labs, discussed the changing dynamics of the crypto investment landscape. Cheng believes that the hype-driven bull run in the crypto market will soon give way to a more strategic and cautious approach. He expressed optimism about the growing interest of traditional financial institutions in the crypto […]
In a recent interview, U.S. Treasury Secretary Janet Yellen has sparked a heated debate with her statement that the United States can “certainly afford” to engage in two wars simultaneously. This comes at a time when the U.S. is providing aid to Ukraine and Israel amidst ongoing conflicts. Yellen’s assertion is based on the belief […]
Anthony Scaramucci, founder of SkyBridge Capital, recently spoke about his early impressions of Sam Bankman-Fried, the founder of FTX who is currently on trial for fraud. Scaramucci initially admired Bankman-Fried’s vision for a next-generation financial exchange and was impressed by his intelligence and perceived altruism. He trusted Bankman-Fried and even sold a piece of his […]
At the recent Future Innovation Summit event in Dubai, a panel discussion titled “Stablecoins, Central Bank Digital Currencies and Cross-Border Payments” explored the possibility of coexistence between CBDCs and stablecoins. The panel consisted of industry experts including Jorge Carrasco, Nikita Sachdev, Jagadeshwaran Kothandapani, and Eetu Kuneinen.Kuneinen argued that CBDCs, although built on a blockchain, would […]
According to former Alameda Research CEO Caroline Ellison, a tweet from Binance CEO Changpeng Zhao (CZ) played a role in the collapse of cryptocurrency exchange FTX. In the tweet, CZ announced that Binance would be liquidating its holdings of FTX Token (FTT) due to recent revelations. This caused retail investors to follow suit and withdraw […]
