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United Arab Emirates 🇦🇪
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Cardano account hacked on X and fake ads posted
The Cardano Foundation’s account on the X platform was hacked on Sunday by an unknown party, with false announcements being posted that a fake digital representative bearing the Cardano brand was being launched on the Solana network, as well as a false claim that the Securities and Exchange Commission had filed a lawsuit against the company.
The hacked account was first used to tweet that claimed to launch a new digital asset called $ADASOL, describing it as an improved version of Cardano built on the Solana network with greater speed and innovation.
The hacked account was first used to tweet that claimed to launch a new digital asset called $ADASOL, describing it as an improved version of Cardano built on the Solana network with greater speed and innovation.
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Bitcoin Drops to $97K Amid Massive Market Clearance
Bitcoin’s value has fallen sharply from its all-time high of over $100,000, after a market liquidation of more than half a billion dollars in a single day. The drop coincided with a massive market liquidation in the cryptocurrency sector of $565 million for Bitcoin alone, after the digital currency touched the $103,900 mark on December 4 before falling sharply.
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BlackRock Increases Bitcoin Holdings to Half a Million Coins
BlackRock Inc.’s iShares Bitcoin Trust crossed the 500,000-bitcoin threshold on Monday, bringing its total assets under management to about $48 billion. The fund achieved the milestone in less than a year since its launch in January.
According to the latest data, the fund currently holds just over 500,000 Bitcoins, which is about 2.38% of the total supply of this digital currency. This achievement reflects the growing demand for investing in Bitcoin through spot exchange-traded funds.
According to the latest data, the fund currently holds just over 500,000 Bitcoins, which is about 2.38% of the total supply of this digital currency. This achievement reflects the growing demand for investing in Bitcoin through spot exchange-traded funds.
United Arab Emirates 🇦🇪
UAE.. A qualitative leap towards the digital future and artificial intelligence 🇦🇪
The UAE continues to strengthen its position as a leading global power in digital technology, driven by massive investments in vital sectors such as telecommunications, cloud computing and artificial intelligence. These investments contribute to accelerating the pace of digital transformation in the country and enhancing its ability to keep pace with the latest technological developments globally.
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UAE.. A qualitative leap towards the digital future and artificial intelligence 🇦🇪
The UAE continues to strengthen its position as a leading global power in digital technology, driven by massive investments in vital sectors such as telecommunications, cloud computing and artificial intelligence. These investments contribute to accelerating the pace of digital transformation in the country and enhancing its ability to keep pace with the latest technological developments globally.
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Bitcoin ETFs Attract $6.2 Billion in November
Dozens of U.S.-based Bitcoin spot exchange-traded funds (ETFs) attracted $6.2 billion in November, nearing a monthly record, as Bitcoin approached the $100,000 mark. Spot Bitcoin ETFs saw their highest ever inflows in November, surpassing $6.2 billion, driven by Bitcoin’s rally toward $100,000 and expected support from the new U.S. administration led by President Donald Trump.
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Abu Dhabi Blockchain Centre Partners with Bitcoin MENA to Boost Financial Innovation
The Abu Dhabi Blockchain Centre has signed a strategic agreement with Bitcoin MENA, the world’s largest Bitcoin conference brand, in a move that cements Abu Dhabi’s position as a leading hub for digital currencies, assets and financial innovation in the world. The joint effort of the two parties will launch the first Bitcoin MENA Conference 2024 at ADNEC Abu Dhabi, from December 9 to 10.
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Trump Administration Seeks to Task CFTC with Regulating Digital Assets
Republicans are considering a major expansion of the Commodity Futures Trading Commission’s authority, giving it oversight of a large portion of the $3 trillion digital asset market. The move is part of Republicans’ push to reduce the influence of the Securities and Exchange Commission over the digital asset sector, which was strong under the previous Democratic administration.
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Telegram's cryptocurrency holdings exceed $1.3 billion
Telegram’s cryptocurrency holdings have seen massive growth, rising from $400 million at the end of 2023 to $1.3 billion in the first half of 2024. According to the Financial Times, this sharp rise is due to several factors, including increased investments in digital assets and profits from TON sales and deals related to the Open Network (TON). Despite the legal challenges facing its founder, Telegram has managed to strengthen its financial presence in the cryptocurrency world.
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Ethereum Strengthens Its Position as the Largest USDT Network by $2.2 Billion
The Ethereum blockchain has surpassed Tron as the world’s largest Tether holder, following a significant increase in the supply of USDT on the Ethereum network over the past week. According to DefiLlama data, the total value of USDT on the Ethereum network has reached $60.3 billion, surpassing the value on Tron, which reached $58.1 billion.
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UK moves towards strict regulation of cryptocurrencies by 2025
The UK will unveil a comprehensive regulatory framework for digital assets early next year, a UK government official confirmed at the Citi & Financial Global Digital Asset Conference in London. The regulations were previously expected to come out last summer, but were delayed due to the UK general election. Now, with the Labour Party in power, the new government has confirmed its intention to move forward with implementing the framework.
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Sui blockchain network down for over 2 hours
Sui Network, a layer-one blockchain platform designed to run smart contracts quickly, experienced a major outage on November 21. According to data from blockchain explorer SuiVision, the network stopped producing blocks for over an hour starting at 9:15 GMT.
Despite the outage, the Sui network’s website showed that all systems were operating normally, much to the confusion of users. The outage has raised concerns in the cryptocurrency community, with some speculating that it was caused by a problem with the transaction validation process. This has led to South Korean platform Upbit temporarily suspending SUI deposits and withdrawals.
Despite the outage, the Sui network’s website showed that all systems were operating normally, much to the confusion of users. The outage has raised concerns in the cryptocurrency community, with some speculating that it was caused by a problem with the transaction validation process. This has led to South Korean platform Upbit temporarily suspending SUI deposits and withdrawals.
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Bitcoin on the cusp of $100,000
MicroStrategy has announced a new $5 billion investment in Bitcoin, bringing its total holdings of the cryptocurrency to $29 billion. The announcement comes amid a record-breaking surge in Bitcoin’s price, with the popular cryptocurrency crossing $97,000 for the first time, fueled by positive expectations about the future of cryptocurrencies.
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Nasdaq to List Options Trading on BlackRock’s Bitcoin ETF
Nasdaq has announced a historic move by listing options on a Bitcoin spot exchange-traded fund (ETF), in partnership with asset management giant BlackRock. The announcement comes after months of speculation about major institutions entering the cryptocurrency market. The options are expected to start trading in the coming days, opening up new avenues for investors looking to capitalize on Bitcoin’s volatility.
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Dubai Chamber of Digital Economy Supports Growth of AI Sector Through Training Programs
As part of its efforts to enhance Dubai’s position as a global digital hub, the Dubai Chamber of Digital Economy organized specialized workshops to build capacity in the field of artificial intelligence and empower women in the technology sector. The first workshop highlighted the growing demand for digital skills, especially in the field of artificial intelligence, which is witnessing steady growth globally.
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Trump Media to Buy Cryptocurrency Trading Platform Bakkt
President Donald Trump’s Trump Media & Technology Group (TMTG) is reportedly in advanced talks to buy cryptocurrency exchange Bakkt. The Financial Times reported, citing unnamed sources, that TMTG is close to buying all of Bakkt’s shares.
The deal will not include Bakkt’s crypto custody business, which the company said is likely to end, according to the report. Bakkt and TMTG did not immediately respond to PYMNTS’ request for comment.
The deal will not include Bakkt’s crypto custody business, which the company said is likely to end, according to the report. Bakkt and TMTG did not immediately respond to PYMNTS’ request for comment.
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UAE leads the way in digital financial services and adopts blockchain technology
The UAE is at the forefront of banking innovation in the Middle East, accounting for the largest share of the region’s $3.2 trillion in assets. The Arthur D. Little report highlights the UAE’s pivotal role in shaping the future of the region’s financial sector. The report also highlights the UAE’s leading role in shaping the future of digital banking in the region.
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