Waleed Al Awadhi Appointed as CEO of UAE’s Securities and Commodities Authority
The UAE Securities and Commodities Authority (SCA) has appointed His Excellency Waleed Saeed Abdul Salam Al Awadhi as its new Chief Executive Officer, following a decree issued by His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE. Effective from February 4, 2025, Al Awadhi assumes his new role with the rank of […]
Saudi Crown Prince Impersonated by Scammers to Launch Fake Memecoin
A recent wave of cryptocurrency scams has seen fraudsters impersonating high-profile figures to launch misleading tokens, and the latest targets are investors hoping to capitalize on the ongoing hype around celebrity-backed memecoins. This time, scammers posing as Saudi Arabia’s Crown Prince Mohammed bin Salman—who also serves as the country’s prime minister—have launched a fraudulent memecoin […]
Abu Dhabi’s Mubadala Acquires $437M Stake in BlackRock’s Bitcoin ETF
Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, has disclosed a $436.9 million stake in BlackRock’s iShares Bitcoin ETF (IBIT) as of December 31, 2024. The disclosure was made through a 13F filing with the U.S. Securities and Exchange Commission. A Landmark Investment in Digital Assets This investment marks one of the most significant crypto-related […]
Web3 Alliance of Saudi Arabia Launches to Accelerate Blockchain Innovation
Saudi Arabia is making a significant leap in blockchain adoption with the launch of the Web3 Alliance of Saudi Arabia (WASA). This new initiative unites key industry leaders to advance Web3 technologies in alignment with the Kingdom’s Vision 2030, fostering economic diversification and technological progress. Founded by global Web3 pioneers The Sandbox, Animoca Brands, and […]
VARA Warns of Risks Associated with Memecoin Advertisements
The Virtual Assets Regulatory Authority (VARA) has issued a consumer alert regarding the risks involved in investing in memecoins, following the rising popularity of these highly speculative and volatile digital assets. Unregulated and High-Risk Nature of Memecoins Memecoins have become a prominent subject of discussion within the cryptocurrency market. These digital assets, often promoted through […]
Dubai’s Tokinvest Unveils Key Report on the Future of Real-World Asset Tokenization
Tokinvest, a Dubai-based pioneering regulated marketplace for tokenized Real-World Assets (RWAs), has published a new report exploring the exciting potential of real-world asset (RWA) tokenization. This report sheds light on the opportunities and challenges within this growing sector and provides a roadmap for making tokenized investments accessible to everyone. The report comes at a pivotal moment […]
Saudi Arabia Launches AI League to Advance Sports Ahead of 2034 FIFA World Cup
Reinforcing Saudi Arabia’s commitment to integrating advanced technologies into sports, the Saudi Company for Artificial Intelligence (SCAI) is launching the AI League – a new competition running from February 10 to the end of April 2025, with a total prize pool of one million riyals. This initiative strengthens AI’s role in revolutionizing sports and marks […]
CoinMENA Unveils Bold Bitcoin Ad Campaign: ‘Your Future, Your Choice’
CoinMENA, a leading regulated crypto trading platform in the MENA region, is making waves in the world of cryptocurrency advertising with its debut campaign, “Your Future, Your Choice.” Partnering with creative agency Bigsea, CoinMENA is using sharp satire to critique the harsh economic realities of today’s world, and in doing so, is redefining how cryptocurrency […]
Microsoft to Launch Responsible AI Foundation in Abu Dhabi
U.S. tech giant Microsoft has announced the launch of a new fund dedicated to advancing responsible artificial intelligence (AI) development in Abu Dhabi, United Arab Emirates. The announcement came just a day before the AI Summit in Paris, where Microsoft emphasized that the initiative aims to strengthen responsible AI standards and implement best practices across […]
Retail Banking is Fading—Fintech Rises, but Can Crypto Catch Up?
Retail banking, once the foundation of global financial institutions, is undergoing a dramatic transformation. Traditional banks are reducing their retail footprint, shifting towards wealth management and investment banking. This retreat is driven by increasing competition from local banks, which in turn are feeling the pressure from neobanks and fintech firms. Open banking regulations have accelerated […]