Category: Uncategorized

M2 Exchange Restores Customer Funds Following $13.7 Million Cybersecurity Incident

On October 31, 2024, at 3:16 AM (GMT+4), UAE-based cryptocurrency exchange M2 faced a cybersecurity breach involving approximately $13.7 million in customer assets. Within minutes, at 3:32 AM, the exchange responded decisively to contain and address the breach. M2 has reported that all affected funds have been restored and that additional security measures are now […]

Zand Bank’s Strategic Journey in UAE’s Digital Asset Landscape

Zand Bank has swiftly emerged as a significant player in the UAE’s digital asset ecosystem, transitioning from its initial role as the country’s first fully licensed digital bank into a potentially comprehensive digital asset service provider. With its upcoming Virtual Assets Regulatory Authority (VARA) custodian license and its potential application for a stablecoin license with […]

Realize Launches Innovative Tokenized T-BILLS Fund in Abu Dhabi

Realize, a technology firm based in Abu Dhabi, has introduced an investment vehicle designed to purchase units of exchange-traded funds (ETFs) focused on U.S. Treasury bills and convert these assets into digital tokens for blockchain trading and transfer. Named the Realize T-BILLS Fund, it aims to acquire units from BlackRock’s iShares and State Street’s SPDR, […]

Changpeng Zhao Speaks Publicly for the First Time After Jail at Binance Blockchain Week

Changpeng Zhao, the founder of Binance, made headlines at Binance Blockchain Week in Dubai today, marking his first public speaking engagement since completing a four-month jail term. His return follows a period of legal scrutiny during which he admitted to violating the Bank Secrecy Act (BSA), prompting Binance to implement a more effective know-your-customer (KYC) […]

Saudi-China ETF Alliance Challenges U.S. Dominance as Bitcoin Climbs on Institutional Demand

Bitcoin’s rally continues, reaching a new peak of $73,500, driven by strong institutional interest and record-breaking Bitcoin ETF holdings in the U.S., which now exceed $66 billion. Open interest in Bitcoin surged by $2 billion within 48 hours, reflecting heightened trading activity. Analysts remain optimistic, with expectations that Bitcoin may need to close above $76,000 […]

BIS Evaluates the Potential Shutdown of Project mBridge

According to a recent Bloomberg report, the Bank for International Settlements (BIS) is evaluating the potential shutdown of Project mBridge, a cross-border CBDC payments platform developed in partnership with the central banks of China, Hong Kong, Thailand, and the UAE. Saudi Arabia joined the initiative when mBridge launched as a minimum viable product in June. […]

Emirates NBD Expands Digital Asset Lab with New ‘Future Leaders Outreach Program’

Prominent banking group in the MENAT region, Emirates NBD, has expanded its Digital Asset Lab to foster talent in academia through its newly launched Future Leaders Outreach Program. Unveiled at the DIFC Innovation Hub, the program aims to bridge the gap between industry and education by providing students with hands-on learning in digital asset innovation. […]

M2’s Evolution: Leadership Changes, Strategic Decisions, and Market Questions

In the competitive world of digital assets, M2 Exchange emerged with great promise, with industry observers and influencers hinting that it could become a key player, possibly even rivaling Binance. However, as the landscape has evolved, M2 has recently made significant shifts in leadership and strategy, prompting questions about its future direction. Leadership Transition Officially […]