The city of Dubai has been very welcoming to the crypto space, providing the much-needed regulatory clarity to help the industry thrive. While this attracts native Web3 and crypto businesses to the emirate, even non-crypto businesses started integrating technologies like crypto, nonfungible tokens (NFTs) and even the metaverse into their operations. Cointelegraph went to explore various parts of Dubai to…
Men’s fashion magazine GQ has launched its first-ever non-fungible token (NFT) collection, featuring 1,661 algorithmically-generated pieces. The collection, dubbed “GQ3 Issue 001: Change Is Good,” will feature artwork from Chuck Anderson, Serwah Attafuah, Kelsey Niziolek, and REO. According to the announcement, each artist created over 100 “traits” which were then combined algorithmically to form the pieces in the collection, before…
The Oman Capital Market Authority (CMA) has said it plans to establish a regulatory regime to govern as well as develop the country’s virtual assets market. The regulator said the envisaged regulatory regime enables it to avail an “alternative financing and investment platform for issuers and investors while mitigating the risks associated with this asset class.” ‘An Alternative Financing and…
press release PRESS RELEASE. Victoria, Seychelles, February 16, 2023 – Bitget, the world’s largest crypto copy trading exchange, announced the relaunch of its Launchpad platform, which provides exclusive access to promising blockchain projects at an early stage. Panda Farm (BBO), the first completely decentralized GameFi project running on Arbitrum, will be launched on Bitget Launchpad on February 16. A total…
The Financial Stability Board (FSB), the financial regulator funded by the Bank for International Settlements (BIS), is pushing international regulations for decentralized finance (DeFi). The FSB on Feb. 16 issued a report on the financial stability risks of DeFi, highlighting major vulnerabilities, transmission channels and the evolution of DeFi. Despite providing many “novel” services, DeFi “does not differ substantially” from…
Countering claims of “duress,” Mango Markets attacker Avraham Eisenberg’s legal team has opposed Mango Labs’ lawsuit to reclaim remaining funds. Mango Labs is the development team behind the Solana-based trading platform Mango Markets. In October last year, the so-called “applied game theorist” turned to the trading platform to execute a series of trades on one account that inflated the value…
Ethereum-based memecoin FLOKI mooned overnight, adding 62% to its value in the space of 24 hours, according to data from CoinGecko. The impressive rally kicked off after Elon Musk tweeted a picture of his dog, who is also named Floki. Historically, whenever Musk has tweeted about his longtime favorite cryptocurrency, Dogecoin, the original doge-inspired token, its price pumps. He even…
As the regulatory scrutiny of the crypto sector in the U.S. intensifies, Binance hopes to eventually settle existing probes into its business. According to chief strategy officer Patrick Hillmann, the software engineers who helped the exchange to grow were mostly unfamiliar with laws and rules surrounding bribery, corruption, and money laundering. This led to gaps in Binance’s compliance efforts, which…
Two residents of the Russian city of Tomsk will be tried for “large-scale robbery” involving the theft of cryptocurrency worth millions of rubles from a local miner. The digital coins were stolen from the owner at gunpoint, authorities said, adding that both criminals are now in custody. Thieves Face Trial in Russia for Armed Robbery of Cryptocurrency Miner The Kirovsky…
The U.S. Securities and Exchange Commission (SEC) wants to sue Paxos for issuing and listing stablecoin Binance USD (BUSD) to the benefit of its top-rival stablecoin Tether (USDT), whose market capitalization has risen to multi-month highs. BUSD market cap drops by $2 billion The SEC asserts that BUSD, a U.S. dollar-backed stablecoin, is a security, noting that Paxos has violated…
