What Is First Digital USD (FDUSD)?

FDUSD is a stablecoin introduced by First Digital Limited, a financial firm based in Hong Kong. It aims to maintain a 1:1 value with the U.S. dollar, with reserves held in cash or cash equivalents by First Digital Trust Limited, a registered trust company. This stablecoin is designed to provide users with a secure digital asset that bridges traditional finance and the cryptocurrency market.

Bitcoin Market Update: Bear Trap or Crash Ahead?

Bitcoin (BTC) is currently priced at $68,504.13, experiencing a decline of 1.51%. Notably, this marks the first time Bitcoin has fallen for five consecutive days since May 2023, following a significant peak. This situation raises questions: Is Bitcoin poised for a substantial crash, or is it preparing for a rebound?

Historically, Bitcoin has shown a pattern of five-day declines in August and June, which preceded major drops. However, this current scenario is unprecedented after a major high. It could indicate an imminent reversal, with Bitcoin potentially rallying rather than crashing, but the likelihood of a significant decline remains high.

Technical analysis reveals a rounded (inverted cup) pattern, suggesting that if Bitcoin falls below a certain level, further declines could occur. A new all-time high would have signaled a positive shift, but the absence of such a peak indicates a potential double-top formation, aligning with previous bearish targets.

While the week isn't over and market volatility could lead to sudden changes—potentially pushing Bitcoin back above $70,000—the current trend, particularly with altcoins also declining, suggests a bearish outlook for Bitcoin.

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: This content includes third-party opinions and does not constitute financial advice.
#Dubai Court Recognizes Crypto Payments in Employment Contracts
Current Market Situation

Bitcoin (BTC) has dipped below $58,000, highlighting a lack of demand above $60,000 and increasing the risk of further declines. This downturn is negatively impacting altcoins, with many cryptocurrencies experiencing losses exceeding 4%. Notably, there are no significant macroeconomic developments today that would influence the market.

Current Status of Cryptocurrencies

In a positive development, cryptocurrencies have gained traction in the United Arab Emirates. A ruling by the Dubai Court of First Instance now officially recognizes salary payments in cryptocurrency within employment contracts. Irina Heaver, a partner at NeosLegal, noted that this marks a shift in the court’s perspective, particularly after a similar request was denied in 2023. This decision sets a precedent for greater integration of cryptocurrencies into everyday transactions, affirming that wages can be paid in either fiat or crypto as per the employment agreement.

IMF and Crypto Opposition

Two executives from the International Monetary Fund (IMF) have proposed imposing an 85% tax on the electricity used by crypto miners, a suggestion viewed as discriminatory. They argue that such a tax is necessary to meet carbon emission targets, despite the fact that many countries are reverting to fossil fuel-based electricity generation. Hebous and Vernon-Lin contend that this tax could generate an additional $5.2 billion in annual revenue globally. They highlight that the carbon footprint of major corporations, like Amazon, far exceeds that of Bitcoin miners.

Miners Attract Investment

Despite the recent halving event, which has reduced miners' earnings, publicly traded mining companies have attracted $2.2 billion in investment, according to BlocksBridge Consulting. This suggests that mining remains an appealing opportunity for investors.

Disclaimer: This article does not provide investment advice. Investors should be mindful of the high volatility and risks associated with cryptocurrencies and conduct their own research.
#CryptoAMA #BTCMiningRevenue #Write2Earn $BTC
$ETH
$BNB

Changpeng Zhao, who was imprisoned in the US for months and released in September, attended the Binance event in #Dubai . Speaking here, #CZBinance stated that he focuses on investment and education.
"I have a positive outlook on the future" CZ, who said that he has always had a positive outlook on crypto for a long time, stated that these people have had past experiences: "As I always say, we don't know what will happen in the short term, but I have been positive about the chosen crypto for a long time. We can't predict the future, we interpret the past. We had difficult times in 2012, 2016 and 2020, and then crypto rallied. But now we are at the top again.
"I'm not banned from working, but I don't want to work" CZ, who stated that he was constantly restricted from working at Binance as claimed, said: "Of course, my experiences in prison were unpleasant, but I also made friends there. Some even apply for help from the early side. There is no situation where working at Binance is prohibited for life. But for now, he is thinking of doing this. I don't have much strength and plans. From now on, I plan to focus on educational programs at Giggle Academy. It will continue to invest in AI, biotech, and the crypto industry.
#BinanceBlockchainWeek #GiggleAcademy #binance

Binance Blockchain Week Dubai 2024 Kicks Off! 🌟
Day 1 has officially begun, and the Main Stage is buzzing with excitement! 🎤✨ If you haven't joined in yet, don't miss out—tune into the live stream now to experience insightful discussions and powerful presentations from our exceptional lineup of speakers. Dive into the world of blockchain innovation at Binance Blockchain Week Dubai 2024! #BinanceBlockchainWeek
$ETH $BTC #Dubai #BinanceBlockchainWeek #16thBTCWhitePaperAnniv #EthereumPectraUpgrade

Binance Blockchain Week 2024, which stood out as the biggest event until Binance's launch, started in #Dubai .
The event, which was attended by more than 200 players, gave important messages about the future of the blockchain world. While the continuity of growth in the sector was emphasized with the main theme of "Momentum", the leader focused on critical foundations for the development of the ecosystem.
"2024 Continues to Be a Turning Point for Blockchain" Binance CEO Richard Teng said that the US ETF launch in 2024 is considered a major development in the crypto sector. Teng said, "Corporate information is now creating its own agenda for blockchain technology. This means both efficiency and challenges," and emphasized that it is necessary to think about how blockchain should be prepared. He also stated that collective contribution has been increased for the provision of financial services in a more inclusive way.

"Dubai Has Become a Worldwide Technology Hub" Dubai Future Foundation CEO Khalfan Belhoul stated that Dubai was perceived as a complex region twenty years ago, but today it is recognized as a technology hub. Belhoul emphasized that Dubai's leaders are shaped by a vision that does not shy away from taking risks, and said, "It does not yet have a clear definition in the Web3 world, but beliefs such as privacy, security and interoperability are at the forefront." He added that new opportunities offered by the integration of Web3 and artificial intelligence.
"Dubai Maintains Global Leadership in Blockchain" Dubai Blockchain Center CEO Dr. Marwan Alzarouni stated that blockchain is accepted as a mainstream technology in Dubai, and said, "We were investing early in this area and we are moving forward with the right business partners." Alzarouni stated that Dubai itself is not compared to other regions, only its own development, and that it is much more locally managed in blockchain than it was a year ago. "Regulation is a must for blockchain to continue to go mainstream," he added.

"El Salvador Aims to Become a Digital Asset Center" El Salvador National Digital Asset Commission President JC Reyes announced that El Salvador aims to become a digital asset and crypto center with President Bukele's vision. Reyes expressed the creation of a summarized framework to support this analysis of the country. "Regulators have to use electric vehicles; Old regulation methods do not exist here," he said, emphasizing the increase in education and knowledge.
"Change and Licensing are Necessary for Crypto" SGB CEO Shawn Chan stated that the most important issue in the sector is regulation and licensing. Chan said, "There will be more opportunities for institutionalization in these frameworks," and said that payment systems and stablecoins play a critical role in the growth growth.

"Institutional Investors Approach Crypto with More Confidence" Gargash Group Strategy Chief Executive Walid Hizaoui stated that as the crypto world began to organize, institutional information entered the sector more comprehensively. “Frictionless user experience will be key to the transition to mass adoption,” Hizaoui said, emphasizing the importance of offering easy-to-use applications.
“Preparations for a Billion New Users Continue” Binance CTO Rohit Wad said that Binance is accelerating its pace to reach the next billion users. Wad said, “We will achieve this goal with KYC, AI-supported infrastructure and innovation-focused products,” and emphasized that Binance will comply with 30 different regulatory frameworks in 20 countries.

“Crypto Projects Should Be Built with the Community” 1kx Partner Diana Biggs stated that compliance with crypto’s variable regulations and the true value of the bear market has emerged. “Building with the community is very important,” Biggs said, emphasizing the collaborative multiplication of parts from parts.
#BinanceBlockchainWeek #binance #BTCBreak71K #BNB

This week, Kiwi-based agency Darkhorse and Project agency GPJ will debut the highly anticipated Binance Blockchain Week #Dubai 2024, positioned to be the largest flagship event ever hosted by Binance, the world’s top cryptocurrency ecosystem. Taking place at Dubai’s iconic Coca-Cola Arena from October 30 to 31, 2024, this major industry gathering will bring together top figures in Web3, blockchain, cryptocurrency, and decentralized finance. The event promises a comprehensive exploration of current trends and future directions for these transformative technologies.
Rachel Conlan, #Binance ’s Chief Marketing Officer, shared the organization’s enthusiasm about partnering with Darkhorse and GPJ, emphasizing that both agencies align with Binance’s vision to create a distinctive event that not only reflects the transformative nature of blockchain and Web3 technology but also looks ahead to what lies in store for the industry.
Project Agencies Combine Expertise for a Global-Scale Event
The collaboration between Darkhorse and GPJ is a testament to Project’s extensive network of creative agencies, which includes 16 agencies operating out of 45 offices worldwide and drawing from a pool of over 2,300 creative professionals. Darkhorse, originally founded in New Zealand, has grown to establish a presence across Auckland, Sydney, Singapore, and Dubai, while GPJ operates in multiple regions, spanning Europe, the Americas, the U.K., India, and Asia. This partnership builds on their prior collaboration, which includes the successful Binance Blockchain Week Istanbul 2023 and the recent launch of the Binance ClubHouse Dubai during TOKEN2049 earlier in the year.
Mike Hewitt, co-founder and CEO of Darkhorse, noted that the synergy between Project agencies is particularly strong, underscoring that the collaborative efforts of GPJ and Darkhorse for Binance Blockchain Week Dubai 2024 aim to create an unmatched, immersive experience for attendees. He emphasized that past successes in Istanbul and Dubai have laid a solid foundation for this event, setting high expectations for a memorable and impactful experience.
The “Momentum” Theme: A Grand-Scale Program and Immersive Experiences
This year’s Binance Blockchain Week, themed “momentum,” will host over 3,500 participants, ranging from industry veterans to newcomers interested in blockchain technology. The event promises a mix of keynote sessions, exhibitions, and hands-on workshops, all designed to facilitate meaningful knowledge exchange and foster connections among attendees. The agency partners have designed an extensive program, featuring 50 sponsors, three stages, and 160 speakers who represent some of the most dynamic voices in the industry. Attendees can look forward to a diverse agenda, including the main event and supplementary engagements like a media reception and an Official After Party, providing ample networking opportunities.
As part of the event’s production, Darkhorse and GPJ will oversee live content creation for both global and local social channels, facilitating real-time engagement for remote audiences. The partnership will also manage an on-site studio where prominent speakers, industry leaders, and media representatives can participate in interviews, enhancing coverage and reach. Additionally, the agencies have crafted a broad out-of-home (OOH) campaign that will add to the visibility of the event across Dubai, reinforcing the event’s theme of “momentum” and highlighting its goal of pushing forward Web3 and blockchain innovation.
Dubai: Reinforcing Its Status as a Global Web3 Hub
Hosting Binance Blockchain Week in Dubai underscores the city’s role as a growing hub for Web3 and blockchain technology. Since the last event held in the UAE in 2022, Dubai has strengthened its position as a center for innovation in these sectors, drawing both established professionals and enthusiastic newcomers from around the world. The 2024 event seeks to contribute to this momentum by creating an environment where new ideas and advancements in blockchain, Web3, and decentralized finance can flourish.
With Darkhorse and GPJ at the helm, Binance Blockchain Week Dubai 2024 is shaping up to be a landmark occasion, bringing together some of the brightest minds in the industry to discuss advancements, network, and celebrate the expanding horizons of blockchain technology. This major event marks a significant step in fostering the knowledge-sharing and connectivity needed to drive the future of Web3, while also solidifying Dubai’s reputation as a global epicenter for blockchain innovation.
#BinanceBlockchainWeek #BTCBreak71K #BNB