GFT, a global IT engineering solutions company, and Red Date Technology, a decentralized cloud infrastructure company, have successfully integrated stablecoins on the Hedera Network and EMTECH CBDC Sandbox into the Universal Digital Payments Network (UDPN). This integration will accelerate the development of programmable payment applications using stablecoins and CBDCs on Hedera.

The cryptocurrency market in the Middle East and North Africa (MENA) region has shown continued strong growth, with Saudi Arabia and the UAE leading the way. According to a recent report by Chainalysis, the MENA cryptocurrency market reached $338.7 billion between July 2023 and June 2024. This represents a healthy year-on-year growth of 11.73%, driven largely by institutional and large-scale transactions, with Saudi Arabia and the UAE leading the way.

In a move that further strengthens the status of digital currencies, parallel to the measures taken by the Federal Reserve, the US Securities and Exchange Commission has approved Nasdaq’s application to list options contracts on BlackRock’s iShares Bitcoin Trust ETF. This move is a clear sign of the growing acceptance of digital currencies in traditional financial circles.

Global spot cryptocurrency exchange-traded funds (ETFs), managed by companies such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares and 21Shares, continued their recovery for the second week in a row, recording net inflows of $321 million, after two consecutive weeks of net outflows.

Historically, the value and trust of money has been tied to tangible physical assets, whether gold, silver, or government-issued paper money. These physical assets have been the basis for ensuring the value and stability of money. However, recent years have seen a radical shift in our relationship with money, as digital currencies have begun to gain increasing importance.

Binance, the world’s largest global digital asset exchange by volume and users, has appointed Stephanie Emil as its Managing Director for Dubai, effective August 2024. Emil brings extensive experience in digital trading systems and has a strong background in the financial sector. She has held leadership positions at global firms such as BNP Paribas and Barclays Capital, where she gained extensive experience in client credit risk and foreign exchange. She will be responsible for driving Binance’s growth and strengthening its position in the region.

Cipher Capital, a multi-strategy cryptocurrency investment firm, has announced its participation in a $15 million seed funding round for Hemi Labs, a project that aims to create a comprehensive blockchain network that combines the capabilities of Bitcoin and Ethereum. The funds will be used to develop and launch the Hemi Network, with a focus on advancing blockchain technology and promoting interoperability between different chains by creating a unified top layer.

Speaking at the launch of his family’s crypto platform, World Liberty Financial, on Monday evening, Donald Trump warned that “crypto is going to go to hell” if he loses the 2024 presidential election to Kamala Harris.
Donald Trump Talks Digital Assets at World Liberty Financial Launch
The former US president has criticized the US Securities and Exchange Commission’s (SEC) approach to regulation through enforcement within the digital assets sector, describing the federal agency’s strategy as “very aggressive.”

Google Cloud has launched a new blockchain remote access service aimed at supporting Web 3.0 development. At launch, Google Cloud Blockchain Remote Access supports the Ethereum mainnet and its testnets, with plans to expand support to additional blockchains over the next year. The service will compete with existing remote access providers like Infora, Alchemy, Coinode, and AnkR, allowing developers to interact with the network without having to run a full node.

Mesh, a digital platform specializing in facilitating cryptocurrency transactions and unifying user accounts, has announced a strategic partnership with CoinMENA, the leading digital asset exchange in the Middle East. The collaboration aims to enhance digital asset transfer services by integrating CoinMENA’s trusted platform into Mesh’s services, setting new standards for secure and easy-to-use cryptocurrency services in the region.

A report from BHM Capital suggests that Phoenix Group is poised for significant growth through an aggressive expansion strategy. The report sets a 12-month price target of AED 2.37 on the stock, suggesting a potential upside of 48.3%. With a solid financial position, strategic acquisitions, and a focus on large and efficient mining, Phoenix is ​​well positioned to become a major player in the global Bitcoin mining market, especially in the MENA region.

Tether, the issuer of the largest dollar-denominated stablecoin, currently controls about 75% of the total stablecoin market, up from 55% two years ago, according to data from Token Terminal.
This growth has been fueled by the growing adoption of stablecoins, which act as a key gateway between fiat currencies and the crypto world.

A new meme coin based on the Ethereum blockchain, dubbed the “official sister of Dogecoin,” has seen a 700% surge in just one day, pushing its market cap from $15 million to $146 million, while trading volumes have soared from $8 million to over $220 million.
Known as “First Nero,” this meme coin has risen by nearly 8,200% over the past six months since its launch.

Binance Blockchain Week Dubai 2024 Unveils Lineup of Prominent Speakers and Leaders

Binance, the world’s leading blockchain and cryptocurrency infrastructure provider and the world’s largest cryptocurrency exchange by trading volume, is gearing up to launch the highly anticipated sixth edition of Binance Blockchain Week, set to take place in Dubai at the Coca-Cola Arena from October 30-31, 2024, bringing together a select group of global crypto leaders, experts, and pioneers, as well as prominent figures in the industry. This year’s event, themed Momentum, will address the current state of the cryptocurrency sector, the obstacles that have been overcome, and where momentum will take us next.

Standard Chartered: Trump or Harris Election Win Could Push Bitcoin Price to $125,000 or $75,000 Respectively

Harris’ success in the US presidential election is expected to cause the crypto market to stumble initially; however, Bitcoin (BTC) could reach new highs regardless of the outcome of the election.

MicroStrategy revealed its latest purchase of 18,300 bitcoin in a post on the X platform on Friday. The company now holds 244,800 bitcoin, extending its lead as the largest holder of bitcoin among public companies.
MicroStrategy bought an additional 18,300 bitcoins at an average price of $60,408 per unit, bringing the value of its bitcoin holdings to $1.11 billion. The company has achieved a 17% return on its total holdings of this digital currency since the beginning of the year.

Digital asset management company XBTO has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) to begin operations in the United Arab Emirates. The company, which provides digital asset services to institutional investors outside the United States, will continue to operate its existing offices in Bermuda, London and Paris, while leveraging its presence in Abu Dhabi to better serve clients in the Middle East, according to a company statement.

Abu Dhabi has seen rapid growth in the AI ​​sector, with the Abu Dhabi Chamber of Commerce and Industry recording the establishment of more than 400 new companies in this sector during the first half of the year. This high turnout reflects a growing interest in AI and demonstrates the emirate’s efforts to consolidate its position as a global hub for technological innovation.

Republican presidential candidate Donald Trump revealed on Thursday that his family’s decentralized finance project, World Liberty Financial, will launch on September 16.
“Embracing the future with digital currencies and leaving behind the big, slow, outdated banks,” Trump said in a video posted to his X account. “Join me live at 8 p.m.”

$IOST

What is IOST cryptocurrency?
IOST stands for Internet of Services Token, which means building a blockchain-powered, scalable, secure and fast network on the Internet. Therefore, IOST is considered one of the recently emerged encrypted digital currency networks that support currency exchanges within decentralized electronic environments. The currency network also aims to process up to 100,000 transactions per second, in addition to expanding its spread in the near term, and marketing the currency network to reach the largest possible number of users around the world.