Following the successful integration of its traditional financial products with blockchain technology, asset management giant Franklin Templeton has announced the launch of its first fund on the Ethereum network. The company confirmed that its Money Market Fund, currently traded on the Nasdaq under the symbol FOBXX, is now available on the Ethereum network. The fund enables investors to invest in a variety of U.S. government securities and cash, as well as repurchase agreements, through an innovative digital investment platform.

After a prolonged downturn in 2023, the cryptocurrency market is set to rebound strongly towards the end of 2024, despite banking crises, stringent regulatory measures, and global economic instability. The Signum survey reveals a new wave of optimism among traditional financial institutions, driven by large investment inflows, the launch of spot Bitcoin exchange-traded funds (ETFs), and the development of AI and decentralized physical infrastructure (DePIN) technologies.

Spot Bitcoin ETFs continued their positive inflows for the second week in a row, recording net inflows of $510.11 million on November 13. This coincided with Bitcoin’s price crossing the $93,000 mark for the first time.
According to data from SoSoValue, the 12 spot bitcoin exchange-traded funds (ETFs) saw a combined $4.73 billion inflows during the week ending Nov. 13. BlackRock’s IBIT fund maintained its lead, recording $230.81 million inflows on Thursday. Since its launch, IBIT has attracted more than $29.15 billion, bringing BlackRock’s total assets under management to $42.56 billion.

Abu Dhabi Global Market (ADGM) has issued a new consultation paper as part of a comprehensive initiative to modernise its regulatory framework. The paper aims to enhance the guidance issued by the Financial Services Regulatory Authority (FSRA) in relation to virtual asset activities, and ADGM invites all stakeholders to provide their comments and views on the proposals put forward.

The Digital Chamber, an organization that supports blockchain technology, has called on US lawmakers to expedite the passage of a bill regulating stablecoins, amid the growing use of them. In its latest report, “The Role of Stablecoins in Enhancing the Dominance of the Dollar,” the Digital Chamber noted the growing use of these currencies for cross-border payments and savings, and called for urgent regulatory legislation.

Elon Musk’s Tesla has surpassed $1 billion in Bitcoin holdings as the price of bitcoin tops $89,000. This is not just a publicity stunt, but rather a reflection of Tesla’s unwavering belief in the value of bitcoin, even in the face of market volatility.
It doesn’t come as a surprise that Tesla is investing in cryptocurrencies, especially after the massive publicity they’ve received. Both Tesla and cryptocurrencies rely on the same circle of followers and investors, making Tesla’s decision to buy large amounts of Bitcoin an expected decision in the current climate.

There are thousands of different cryptocurrencies out there, which can be confusing when you’re first starting out in the world of cryptocurrencies. Forbes has put together a list of the top 10 cryptocurrencies to invest in based on their market cap, or the total value of all the coins currently in circulation.
1. Bitcoin
2. Ethereum
3. Tether
4. Binance Coin

Bitcoin made a historic jump above $79,000 for the first time, amid a strong buying spree over the weekend that saw $280 million worth of sell orders liquidated in the cryptocurrency market.
Bitcoin is up 4%, extending its weekly gains to more than 16%. The rally came on the back of two major events: Donald Trump’s victory in the US presidential election and the US Federal Reserve’s 25 basis point interest rate cut. Traders generally see these two events as supportive of Bitcoin’s price.

Saudi Arabia is seeking to strengthen its position as a regional technology powerhouse by launching a massive artificial intelligence project, with investments estimated at $100 billion. The new project aims to build a strong infrastructure for artificial intelligence, by investing in data centers and startups in this field.

South Korea has opened the door for seven local banks to experiment with innovative financial services, after the Financial Services Commission voted to select them to participate in a pilot program to test digital financial services based on central bank digital currency and digital depository representatives, marking a significant step toward digital transformation in the financial sector.

Stablecoins have seen tremendous growth in the UAE during the first half of 2024, with the total value of stablecoins traded on centralized and decentralized platforms exceeding $9.8 billion, up 55% compared to the same period last year. This growth has helped cement the UAE’s position as a leading regional hub for cryptocurrencies.

Today, the cryptocurrency market has seen a significant increase in activity and significant volatility in the prices of major digital assets. This increase comes in conjunction with anticipation of the results of the US presidential elections, with initial forecasts indicating a lead for Donald Trump. The potential increase in his chances of winning, which reached about 85% on platforms such as “Polymarket”, has boosted the sentiment of cryptocurrency investors. Trump is known for his pro-industry stances, making his expected victory a positive sign for the cryptocurrency sector, which has had a positive impact on market confidence.

In a move that reflects the growing confidence in the digital assets sector, Zodia Custody, backed by Standard Chartered Bank, is set to raise $50 million in fresh investment. The funding round aims to enable the company to strengthen its position as a leading provider of digital asset custody solutions for financial institutions and large corporates.

Tether is increasingly popular in countries facing economic challenges, as many individuals and businesses turn to the digital currency to preserve the value of their savings and facilitate financial transactions. According to Chainalysis data, the use of USDT in regions such as Eastern Europe, the Middle East, and Africa is on the rise. However, this trend raises questions about the potential implications of increased use of digital currencies in the face of financial restrictions, such as their impact on financial stability and facilitation of illicit activities.

The Monetary Authority of Singapore (MAS) is set to launch new initiatives to promote the use of digital assets in the financial sector. The MAS said it will build trading networks to increase liquidity of digital assets, develop integrated market infrastructure, strengthen regulatory frameworks for digital asset adoption, and facilitate access to shared settlement platforms for digital assets.

In a surprise move, Reddit, the popular social media platform known as a leading community for discussing cryptocurrencies, announced that it will sell most of its cryptocurrency investments during the third quarter of 2024. The company generated $6.87 million from the sale of its major holdings of Bitcoin and Ethereum.

BlackRock bought $1 billion worth of bitcoin last week, then added another $300 million on Monday. BlackRock also invested in MicroStrategy, a major player in the bitcoin market, reflecting a broader interest in the market.

Google announced in a statement the launch of its largest initiative in the field of artificial intelligence in the Middle East and North Africa region, which aims to enhance research capabilities in this field and provide specialized training programs, in addition to developing innovative solutions based on artificial intelligence technologies.
This ambitious initiative was announced during the AI ​​Connect conference hosted by the Etihad Museum in Dubai, in the presence of His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, and a group of experts and those interested in this field.

PayPal, the global payments giant, has announced a significant drop in its cryptocurrency holdings. This development signals a significant shift in the cryptocurrency trading landscape, with major financial institutions playing a larger and more influential role in the market.
Data submitted by PayPal to the US Securities and Exchange Commission revealed an 11% decrease in the total value of digital currencies held by the company on behalf of its customers during the third quarter compared to the second quarter, reaching about $2.17 billion.

Digital payments giant Visa has announced a strategic partnership with leading cryptocurrency exchange Coinbase. The partnership aims to facilitate the buying and selling of cryptocurrencies by enabling Coinbase customers in the US and EU to instantly deposit funds into their accounts using Visa cards. Thanks to the integration with the Visa Direct network, users can now benefit from the speed and ease of digital money transfers.