The Middle East’s cryptocurrency market has experienced a remarkable surge, with a 166% increase in daily traders over the past year, according to a new report by Bitget Research. The region is now home to an average of 500,000 daily crypto traders, and this number is projected to reach 700,000 by the end of 2024.

At the forefront of this crypto revolution is the United Arab Emirates (UAE), which has emerged as the clear leader in the Middle East’s digital asset landscape. The report reveals that a staggering 72% of local users in the UAE have invested in Bitcoin, with many considering it a “digital gold.”

The UAE’s crypto-friendly policies and the recent approval of Bitcoin Spot ETFs have been key drivers behind this surge in adoption. Additionally, 29% of users in the UAE view cryptocurrencies as a more convenient way to hold assets, while 34% are active traders and 22% use them for daily payments.

Gracy Chen, the Managing Director of Bitget, expressed excitement about the Middle East’s crypto potential, stating, “The UAE, in particular, holds significant importance as a base within the region. It has emerged as a hub for cryptocurrency talents, funds, and enterprises, while also steadily gaining global influence in the crypto space. We look forward to contributing to and witnessing the further development of this dynamic market.”

The report also highlights the dominance of global centralized exchanges in the region, with local platforms struggling to gain traction. This is attributed to the broader selection of tradable assets and higher liquidity offered by international platforms, as well as the convenience of depositing and withdrawing in local currencies.

However, the report also acknowledges the growing popularity of decentralized exchanges (DEXs) within the Middle East. Users are increasingly turning to DEXs for peer-to-peer (P2P) trading, particularly on platforms built on blockchains like Solana, BSC, and Ethereum.

As the crypto market continues to evolve, the Middle East, led by the UAE, is poised to play a significant role in the global digital asset landscape. With favorable regulations, rising investor interest, and a thriving ecosystem, the region is set to witness even greater crypto adoption in the years to come.

Decentralized cloud computing firm Akash Network recently witnessed a significant surge in its AKT token value following its listing on South Korean exchange Upbit. The token soared by more than 50% within 24 hours, reaching nearly $7. This notable increase propelled AKT’s market capitalization to over $1 billion.

Akash Network operates as a cloud computing platform built on the Cosmos blockchain using the Cosmos software development kit (SDK). Through its open network, Akash facilitates the buying and selling of computing resources via its marketplace. This innovative approach connects server owners seeking computing power for hosting applications with available cloud computing resources.

The company’s listing on Upbit, South Korea’s largest cryptocurrency exchange by trading volume, further boosted AKT’s prominence in the market. As of now, AKT boasts a market capitalization of $1.45 billion, according to data from Messari.

In addition to its successful token listing, Akash Network unveiled plans for an upcoming event, the ‘Akash Summit,’ scheduled for May. This summit will place a particular emphasis on the decentralized artificial intelligence (AI) sector, highlighting Akash Network’s commitment to advancing innovation in this space.

Akash Network’s achievements align with the broader trend of decentralized hardware gaining traction, especially in response to the growing demand for AI computing resources. Venture capitalists, including Anand Iyer, founder of Canonical Crypto, acknowledge the significant utility of decentralized hardware in meeting the evolving needs of AI applications. Iyer noted that companies like Akash Network and Ritual are at the forefront of leveraging decentralized networks for non-crypto use cases, signaling a promising future for decentralized technologies beyond the realm of cryptocurrencies.

In a recent report, Ryze Labs pointed to the ongoing tax season as a factor likely to contribute to sustained market weakness beyond the current decline.

Cryptocurrencies experienced a significant downturn on Friday, mirroring the risk-off sentiment prevailing in traditional markets, which intensified amidst heightened geopolitical tensions. During the afternoon trading session in the United States, Bitcoin (BTC) plunged below the $66,000 mark, having previously tested the $71,000 threshold just hours earlier. As of the latest update, Bitcoin had managed a slight recovery to $66,700, marking a decline of over 5% within the past 24 hours.

Ether (ETH), the second-largest cryptocurrency by market capitalization, also faced substantial losses, dropping by as much as 12% to $3,100 before a modest rebound trimmed the decline to 8%.

The broader cryptocurrency market witnessed even more pronounced losses during the panicky trading activity. Overall, the market experienced a nearly 10% decline, with prominent altcoins such as Cardano’s ADA, Avalanche’s AVAX, Bitcoin Cash (BCH), Filecoin (FIL), and Aptos (APT) all plummeting by 15-20%.

The sharp drawdown triggered the largest leverage washout in a month, resulting in the liquidation of approximately $850 million worth of leveraged derivatives trading positions across various digital assets. Of these positions, around $770 million were long positions, representing traders who were betting on rising prices and were caught off-guard by the sudden downturn.

The decline coincided with a drop in stock markets during the U.S. trading session, driven by mounting concerns over escalating tensions in the Middle East. U.S. authorities issued warnings indicating that Iran might be preparing to launch a significant attack on Israel. Consequently, investors sought refuge in Treasury bonds and the U.S. dollar index (DXY), while key U.S. equity indices such as the S&P 500 and Nasdaq 100 experienced declines of 1.7% just an hour before the trading session concluded. Meanwhile, gold, a traditional safe-haven asset, surged past $2,400 to reach a new all-time high before retracing some of its gains, while oil registered a modest 1% increase.

In light of the market conditions, Ryze Labs, a digital asset investment firm formerly known as Sino Global Capital, provided commentary on Friday, suggesting that investors brace for short-term market softness in the crypto space due to the impending tax season. However, the firm maintained a more optimistic long-term outlook, anticipating relief for the asset class as policymakers may ease quantitative tightening measures and potentially adjust monetary policies to facilitate U.S. government debt rollovers.

The project’s W token debuted with a market capitalization of $3 billion and opened at $1.66 per token, as reported by CoinGecko. With this debut price, the fully diluted value of the token reached $16.5 billion.

The airdrop initiated by cross-chain bridge Wormhole aims to reward early users with 617 million of its newly issued governance token, W. However, heavy congestion on the Solana-based decentralized exchange (DEX) OpenBook led to downtime, causing accessibility issues for users.

Of the total token supply, 6% was allocated to the airdrop, while another 12% was earmarked for core contributors and 23.3% for the foundation’s treasury. Initially launched on Solana, the token will later be natively issued on Ethereum and layer-2 networks.

Holders of the W token will have the opportunity to delegate their tokens for participation in governance votes. This delegation process, dubbed the “first ever multichain governance system,” can occur on Solana or any compatible Ethereum-based chains.

European Parliament have greenlit measures aimed at curbing anonymous transactions facilitated through hosted crypto wallets. This decision comes as part of the European Union’s broader efforts to bolster Anti-Money Laundering (AML) and Counter-Terrorist Financing laws to encompass the realm of digital currencies.

The latest Anti-Money Laundering legislation, which garnered majority approval from lead committees on March 19, entails a ban on cryptocurrency transactions conducted through third-party hosted wallets, notably those provided by centralized exchanges. This move is expected to bring greater transparency and oversight to the crypto sphere, a sector often associated with anonymity and decentralized transactions.

However, the legislative push hasn’t been without dissent. Members of the European Parliament Patrick Breyer and Gunnar Beck voiced opposition to the ban on anonymous crypto payments, citing concerns over its potential encroachment on economic autonomy and financial privacy. Breyer, particularly vocal in his reservations, emphasized the significance of anonymous transactions as a fundamental right.

Under the proposed legislation, stringent limits will also be imposed on cash transactions and anonymous cryptocurrency payments. Commercial transactions exceeding 3,000 euros in anonymous cash payments will be prohibited, with a complete ban on cash transactions exceeding 10,000 euros in business dealings.

Despite the projected timeline of three years for full implementation, legal experts anticipate the measures to take effect sooner, potentially reshaping the landscape of cryptocurrency regulation within the EU. The move signals a concerted effort by European authorities to address the perceived risks associated with unregulated digital currencies, including money laundering and terrorist financing.

While proponents argue that the regulations are essential for combating illicit activities, critics within the crypto community fear that such measures could stifle innovation and impede the free flow of economic transactions. Daniel “Loddi” Tröster, host of the Sound Money Bitcoin Podcast, highlighted practical challenges posed by the legislation, particularly its impact on donations and the broader implications for cryptocurrency adoption across the EU.

As the EU moves forward with its regulatory framework, the global crypto community awaits further developments, anticipating both challenges and opportunities in navigating the evolving regulatory landscape.

The asset management giant BlackRock announced the launch of a new real-world asset (RWA) tokenization fund on the Ethereum network. Additionally, BlackRock made a strategic investment in the asset tokenization company Securitize.

BlackRock officially introduced the BlackRock USD Institutional Digital Liquidity Fund, represented by the blockchain-based BUIDL token. This fund is fully backed by cash, U.S. Treasury bills, and repurchase agreements, and will distribute yield to token holders via blockchain rails daily, as outlined in a press release. Securitize will serve as the transfer agent and tokenization platform for the fund, while BNY Mellon will act as the custodian of its assets. Notable participants in the fund’s ecosystem include Anchorage Digital Bank NA, BitGo, Coinbase, and Fireblocks.

In addition to launching the tokenized asset fund, BlackRock also disclosed a “strategic investment” in Securitize, although specific terms of the deal were not disclosed. Robert Mitchnick, BlackRock’s Head of Digital Assets, emphasized that this initiative represents the company’s ongoing commitment to developing digital asset solutions to address real client needs, expressing excitement about collaborating with Securitize.

The announcement follows a regulatory filing that revealed BlackRock’s collaboration with Securitize, sparking speculation about a tokenized fund. Notably, BlackRock’s entry into the tokenization field aligns with a broader trend among traditional finance giants, including Citi, Franklin Templeton, and JPMorgan, who have all explored tokenization technology. Tokenization of real-world assets (RWA), such as bonds and funds, has emerged as a rapidly growing use case for blockchain technology, reflecting the increasing integration between digital assets and traditional finance.

BlackRock’s CEO Larry Fink previously indicated in a CNBC interview that the company views its spot BTC ETF as a step towards broader tokenization efforts, underscoring the company’s strategic approach to embracing blockchain technology and digital asset innovation.

Robert F. Kennedy Jr., a prominent figure in the 2024 US Presidential race, has voiced his strong support for cryptocurrency, labeling it as the ultimate safeguard against inflation. In a bold statement shared on social media platform X, Kennedy emphasized the pivotal role of digital assets in wresting control from governmental and banking institutions.

RFK Jr. hailed cryptocurrency as a liberating force, describing it as a crucial tool to break free from the grip of the Federal Reserve. He concluded his message with a resounding declaration that “Crypto equals freedom,” underscoring its significance in his campaign narrative as the election year looms large.

The upcoming US Presidential elections are poised to be a pivotal moment for the nation, with a myriad of pressing political issues taking center stage. Among these, the escalating prominence of cryptocurrency and its reception on Capitol Hill stand out prominently.

In a recent communication, RFK Jr. lauded cryptocurrency as the premier defense against inflation, highlighting its potential to empower ordinary Americans with financial autonomy. He critiqued the current financial system for perpetuating wealth inequality by favoring billionaires, emphasizing crypto’s role in rebalancing this disparity.

Kennedy’s unwavering stance on cryptocurrency is evident, having openly disclosed his ownership of Bitcoin and pledging to champion BTC if elected President. His commitment to safeguarding Bitcoin and ending governmental hostility towards the asset class has been a cornerstone of his campaign.

As the digital asset market takes center stage in the political arena, debates surrounding a Central Bank Digital Currency (CBDC) have intensified, drawing divergent opinions from various quarters. The outcome of the elections is poised to significantly impact the regulatory landscape for the cryptocurrency industry in the United States.

In a significant development for the Ethereum ecosystem, the Dencun upgrade has been seamlessly integrated into the network. This latest enhancement introduces notable reductions in transaction fees across Layer2 chains, marking a milestone for Ethereum enthusiasts worldwide.

Previously, conducting an L2 transaction incurred a cost of $1, but with the Dencun upgrade in place, the same transaction can now be executed for a mere cent. Even transactions that formerly required a few cents now come at a fraction of that cost, revolutionizing the cost dynamics of Ethereum transactions. Key chains like Arbitrum, Polygon, and Coinbase Global, heavily reliant on Ethereum’s infrastructure, stand to benefit immensely from this upgrade.

The Ethereum Foundation, in a press release, highlighted that this upgrade follows the successful implementation of last year’s Shapella upgrade. Among the myriad of changes introduced, the introduction of ephemeral data blobs via EIP-4844, affectionately dubbed “protodanksharding,” stands out. These data blobs play a pivotal role in slashing L2 transaction fees, aligning with Ethereum’s vision of scalability and affordability.

For existing Ethereum Ether (ETH) holders, the Dencun upgrade brings no cause for concern, as it doesn’t impact current holdings. However, non-staking ETH node operators are advised to promptly update their node’s execution and consensus layer clients to align with the latest client releases.

Delving deeper into the upgrade nomenclature, the Ethereum team elucidated that upgrades to the consensus layer are denoted by star names, while those to the execution layer follow the theme of Devcon city names. “Dencun,” a fusion of Deneb, a prominent star in the Cygnus constellation, and Cancun, the famed location for Devcon 3, symbolizes the synergy of celestial inspiration and real-world connectivity.

The reduced transaction fees on Layer2 chains are poised to catalyze the development of innovative applications and chains leveraging the Ethereum network’s capabilities. Moreover, the Ethereum Dencun upgrade has already begun to make waves in trading circles, with ETH witnessing a nearly 2% price uptick and a remarkable 7% surge in trading volume. Investors are eyeing the impending days with anticipation, expecting the upgrade to propel ETH to new heights in the market.

In a groundbreaking move, Tether, a leading cryptocurrency entity, has joined forces with the United States Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) to recover a staggering $1.4 million in stolen funds. This collaborative effort marks a significant milestone in the fight against financial fraud within the rapidly evolving cryptocurrency ecosystem.

The funds in question, suspected proceeds from a fraudulent customer support scam, were seized on March 12 in Chicago, Illinois. This operation represents one of the first instances where the U.S. has successfully retrieved Tether (USDT) from an unhosted digital currency wallet.

Tether, in a statement released following the seizure, expressed pride in their partnership with the U.S. government and reiterated their commitment to combating illicit activities in the cryptocurrency realm. The company emphasized its dedication to ensuring the integrity and security of its users, affirming their unwavering stance against fraudulent practices.

According to reports from the Attorney’s Office, the stolen funds were primarily obtained through a deceptive customer support scheme, predominantly targeting vulnerable individuals, including the elderly. Victims were lured in through deceptive pop-up ads on their computers, falsely claiming their systems had been compromised. Subsequently, victims were directed to transfer their assets to USDT under the guise of protecting their funds, only to lose control of their tokens to the scammers.

The investigation into the fraudulent scheme remains ongoing, with details emerging about how law enforcement agents traced the funds to five distinct wallets. An affidavit filed in January indicated that these wallets were utilized to launder proceeds from the fraudulent activities, underscoring the complexity of the operation.

As authorities continue to crack down on financial fraud in the cryptocurrency space, the successful recovery of stolen funds highlights the effectiveness of collaboration between industry players and law enforcement agencies in safeguarding users and maintaining the integrity of digital assets.

Ethereum developers are gearing up for the much-anticipated Dencun upgrade, scheduled for Wednesday, poised to introduce the most significant code changes to the blockchain in over a year. Named as a fusion of the project names Deneb and Cancun, Dencun comprises two upgrades unfolding simultaneously on Ethereum’s consensus and execution layers.

Anticipated to commence around 13:55 UTC (9:55 a.m. ET), this technical “hard fork” in blockchain terminology is primed to usher in a new era of reduced fees for the burgeoning array of auxiliary networks, known as layer-2 (L2) “rollups,” that operate atop Ethereum. The primary catalyst for this shift will be the activation of a new Ethereum Improvement Proposal (EIP) called proto-danksharding, or EIP-4844, intended to enhance the chain’s capacity to manage data from L2 networks.

While elements of the Dencun upgrade have been in the works for several years, engineering concerns prompted developers to postpone its implementation from the initial target of late 2023. Subsequently, the package underwent testing across three separate test networks (testnets), with the majority of these tests proceeding smoothly. In celebration of Dencun’s official launch, some Ethereum enthusiasts are participating in watch parties, with the EthStaker developer community and Nethermind, a leading Ethereum infrastructure team, each hosting live streams.

Dencun represents Ethereum’s most substantial update since the Shapella upgrade of April 2023, which facilitated withdrawals of staked ether (ETH). The key component of Dencun is proto-danksharding, introducing a novel method for storing transaction data on Ethereum known as blobs. This upgrade is poised to benefit layer-2 networks such as Arbitrum, Optimism, and Polygon the most. These networks play a pivotal role in scaling Ethereum by aggregating transactions from users and settling them in large batches on the Ethereum chain.

Following Dencun, layer-2 networks will be able to post data to Ethereum within a dedicated blobspace, thereby reducing costs associated with squeezing data into conventional transactions. Proto-danksharding marks Ethereum’s initial foray into sharding, a set of techniques aimed at processing more transactions cost-effectively by fragmenting the blockchain into mini-shards or mini-chains. While a fully developed version of sharding is still years away, proto-danksharding is expected to alleviate Ethereum’s high gas fees in the near term by reducing fees for L2 networks.

Moreover, proto-danksharding will benefit a new class of blockchains known as data availability (DA) layers, which assist networks in storing large volumes of data. Polygon co-founder Jordi Baylina noted that increased data availability on Ethereum could drive down prices due to supply and demand dynamics.

Looking ahead, Ethereum developers will shift their focus to Electra + Prague (Petra), the next upgrade after Dencun. While the specific features of this upgrade have yet to be finalized, Verkle Trees, a new data category aimed at enhancing node storage capabilities, is among the leading contenders.

In essence, the Dencun upgrade represents a significant milestone for Ethereum, enabling more seamless collaboration among developers across the ecosystem and laying the groundwork for enhanced scalability and user experiences.

MetaTrace, an innovative GameFi venture, secures a pioneering license from the UAE RAK DAO within the free economic zone. Embarking on its third investment round, the project aims to amass $25 million for global expansion, fortifying its market presence globally.

Since its May 2022 launch, MetaTrace has captured attention with its NFT collection, raising an impressive $500,000. These funds fueled development, marketing initiatives, team assembly, and an innovative product. By August 2022, a successful MVP on the geolocation platform MetaFora, powered by Polygon blockchain, was unveiled.

The second investment phase garnered $5,150,000, supported by angel investor Alexey. This marked the beginning of an extensive blockchain product ecosystem and a team of 50+ professionals. In September 2023, the MetaTrace TRC token debuted on exchanges, showcasing a 400% increase and maintaining a leading market position.

Now launching a Series A investment round of $25 million, MetaTrace targets global market entry, operational expansion, worldwide marketing, and inclusion on new exchange platforms. The team anticipates this investment as crucial for achieving ambitious goals and solidifying MetaTrace’s GameFi industry leadership.

Mezen consulting group values MetaTrace at over $296 million, with projections soaring to $700 million within the next year. Despite the high valuation for a yet-to-be-fully-launched game, MetaTrace’s substantial user base and vibrant ecosystem provide a distinct advantage in this dynamic project.

In the contemporary business landscape, making prudent financial decisions is essential for achieving success. Companies are increasingly exercising caution in managing their finances and resources, particularly in allocating advertising budgets. When clever financial choices align with innovative advertising strategies, it creates a compelling narrative that every brand aspires to share in the near future.Advertising is more than simply a cost; it’s an investment in the future of a brand’s success or failure, depending on how well it is handled. To ensure successful marketing campaigns, companies have always had to deal with the headache of coordinating several advertising channels, negotiating with different agencies, and understanding complicated metrics. However,  modern technology has opened up a world of possibilities where data-driven insights, simplified procedures, and automation are reshaping the advertising industry. With the advent of RMS in 2023, advertising methods underwent a sea change, supplanting conventional platforms such as Facebook and Google Ads. Among RMS’s many advantages are its streamlined ad channel administration, intuitive user interfaces, and monetary incentives. Interestingly, integrating blockchain technology into the operations of RMS platforms has been nothing short of perfect. Businesses now stand to benefit from faster transactions, enhanced security, and reduced transaction costs. This shift facilitates smoother financial operations and allows companies to transcend geographical barriers, accessing global audiences without the limitations imposed by traditional currency exchanges.Demystifying Crypto statistics reveal that 39% of customers think cryptocurrencies should be used for payments rather than merely investments, demonstrating the rising acceptability of cryptocurrencies as a valuable form of money. Also, Men between 18 and 35 are incredibly enthusiastic, with 24% saying they want to pay using cryptocurrency regularly within the next year, suggesting widespread acceptance may be on the verge of happening. Combining conservative spending with creative advertising methods changes how companies spend money, allowing them to make smart investments that pay off in the long run and stay competitive in the ever-changing digital market. Primax’s Crypto-Powered SolutionsThe era of conventional payment methods has come to an end. Primax’s use of cryptocurrencies eradicates the inconvenience of handling traditional fiat currency, providing clients with a safe and streamlined alternative. Through blockchain technology, transactions are quicker, exhibit enhanced transparency, and are rendered less vulnerable to fraudulent activities. With Primax, users may effortlessly carry out diverse advertising campaigns, including SMS marketing, internet advertising, and online video campaigns on platforms such as YouTube, Television, and Tales, owing to its user-friendly interface.  Primax also integrates AI technology into its chatbot, offering a unique solution for users. This chatbot integration utilizes AI capabilities to enhance user experience and streamline interactions, providing a novel approach to customer engagement and support within their platform.In addition, the platform offers customized adverts designed to optimize audience interaction. Primax guarantees a smooth experience for advertisers by providing robust click-fraud prevention and specialized support services. While spearheading the adoption of crypto payments in the advertising industry, Primax responds to varied demands, whether clients want self-management or the support of professional managers.Effortless AdvertisingPrimax.digital revolutionizes internet advertising with its user-friendly platform, eliminating the hassle of engaging with multiple marketing agencies and waiting for their responses. With just a few clicks on the Primax dashboard, users can seamlessly order internet advertising services, streamlining the process efficiently and clearly. The platform also boasts a team of highly skilled contextual specialists, each certified with a minimum of three years of experience and equipped with expertise in over 20 countries’ local markets. This ensures clients receive tailored solutions optimized for their needs and target demographics. Whether seeking assistance from seasoned professionals or navigating the platform independently, users benefit from transparent reporting, enabling them to track the effectiveness of their advertising campaigns effortlessly.Moreover, Primax.digital offers its users many benefits, including expert assistance in campaign setup, competitive market conditions for marketers, and comprehensive reporting and document management within a single dashboard. Remarkably, the platform’s commitment to client satisfaction is further evidenced by its click fraud protection system, attractive bonuses, crypto payment, and cashback incentives, fostering trust and loyalty among its growing client base, which currently exceeds 1,059 satisfied users.In SummaryThe introduction of advertising networks embracing cryptocurrencies has brought about a significant shift in the business landscape. Companies now navigate various ecosystems and niches by employing innovative advertising tactics while prioritizing prudent financial decisions. Leading the charge in redefining the advertising landscape is Primax.digital, integrating click fraud prevention and blockchain technology seamlessly. Primax.digital is spearheading a new era of advertising, where creativity and financial acumen converge to craft compelling success stories. Through its adoption of cryptocurrencies, the platform enhances transactional safety and efficiency and garners the trust and loyalty of its growing clientele.

Following a proposal by Erin Koen, a key figure in the Uniswap Foundation, the governance token of Uniswap, UNI, experienced a substantial 60% surge. This surge occurred after Koen introduced a proposal aimed at overhauling the governance system of the Uniswap protocol. The proposal outlines plans to distribute protocol fees among UNI holders who actively stake and delegate tokens, thereby revitalizing the decision-making process within the protocol.

The proposal, presented by Erin Koen, has a dual objective of fortifying and rejuvenating Uniswap’s governance structure while also rewarding UNI token holders who engage in staking and delegation. In an X post, Erin Koen stated, “I believe we should upgrade the protocol so that its fee mechanism rewards UNI token holders that have staked and delegated their tokens.”

This proposal represents a significant development for Uniswap, the largest decentralized exchange in terms of trading volume. It signifies a departure from the previous year’s attempt to reward token holders with accumulated fees. Last June, the Uniswap community rejected a proposal to activate fees for various liquidity pools, distributing a portion of the revenue among token holders. In a subsequent move in October, the exchange initiated a 0.15% fee on crypto swaps involving ETH, USDC, and other tokens on the protocol’s interface.

Pending community approval in a vote, the proposed overhaul would facilitate the permissionless and programmatic collection of protocol fees, distributing them proportionally to UNI token holders actively engaged in staking and delegation. Recently, UNI was traded at $12, marking an impressive nearly 60% surge over the past 24 hours and achieving its highest price point since April 2022. This notable increase outpaced the relatively stable price movements of Bitcoin (BTC) and the broader CoinDesk 20 Index (CD20).

In a strategic move poised to broaden its operational scope in the United States, Ripple Labs has successfully acquired Standard Custody & Trust Co., a crypto trust company based in New York. This acquisition is anticipated to bolster Ripple’s regulatory standing and enable an expansion of its services within the U.S. market.

The acquisition marks a significant step for Ripple beyond its traditional payment solutions, particularly as the company navigates through an ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC), currently in the remedies phase.

Ripple’s Ambitious Expansion in the U.S. Crypto Market As the optimistic atmosphere surrounding Ripple (XRP) extended from the latter part of 2023 into 2024, industry observers anticipated resolution in its legal battles. Despite the ongoing SEC litigation, Ripple is now strategically positioning itself for a more active role in the U.S. market.

In a recent announcement, Ripple revealed its acquisition of Standard Custody & Trust Co., signaling its commitment to enhancing its presence in the U.S. financial landscape. This acquisition, the second of its kind by Ripple, is still pending approval from New York regulators.

The acquisition involves a limited purpose trust charter based in New York, presenting Ripple with expanded capabilities to provide in-house services to financial institutions interested in tokenized assets. Ripple’s President, Monica Long, emphasized the company’s goal to offer comprehensive infrastructure support to financial entities, highlighting the potential for increased flexibility.

This move is part of a broader strategy by Ripple, which also includes pursuing U.S. money transmission licensing concurrently. While specific details of the deal remain undisclosed, it positions Ripple to incorporate crypto custody and settlement services into its portfolio, allowing customers to entrust Ripple with both custody and settlement needs, eliminating the need for multiple service providers.

In a recent announcement on his platform, X, Tate has put forth an intriguing proposal to engage with his extensive follower base. Directing his message to the “crypto Twitter” community, Tate declares, “Consider this: I’m contemplating the launch of a cryptocurrency, backed by a whopping $100 million of my personal funds. Not only that, but I’m reserving early access at a discounted rate exclusively for members of University.com.” University.com, an educational platform owned by Tate, focuses on guiding individuals toward financial success in “The Real World.”

Leveraging his widespread fame, Andrew Tate emphasizes that his cryptocurrency venture is destined for success. He vows to extensively promote the coin, stating, “As the most famous man alive, I’ll ensure widespread visibility, allowing all of you to reap the financial benefits.”

Notably, Tate introduces a unique condition to his proposal: he will only proceed with the plan if his post garners 50,000 retweets. What adds a layer of intrigue to this development is Andrew Tate’s prior stance against cryptocurrencies. In a surprising reversal, he acknowledges his previous anti-crypto stance from just last year, where he vehemently declared, “I do not engage with any crypto,” underscoring his commitment to avoiding practices he deems exploitative, unlike “every other influencer.”

As Ethereum (ETH) sees a 12.5% dip, investors weigh the prospects of a buying opportunity. The recent macroeconomic landscape, no longer anticipating a U.S. Federal Reserve interest rate decrease, has contributed to the correction. ETH futures premium has dropped to a three-month low, sparking speculation about underlying pressures.

Ethereum’s upcoming Dencun upgrade, aiming to reduce gas fees for scalability, could revive positive momentum. Successful tests were announced by core developer Tim Beiko, with the mainnet expected by March. Layer-2 solutions surpassing BNB Chain in total value locked indicate scalability progress.

Despite these developments, the appetite for bullish ETH leverage positions has waned among professional traders. Monthly futures contracts’ premium has trended down, but historical data suggests a neutral premium doesn’t guarantee a negative price swing.

Options markets reflect uncertainty, with the 25% delta skew briefly hinting at bullish sentiment. Ether bulls focus on the potential approval of a spot Ether ETF, with the SEC delaying its decision on BlackRock’s proposal. Despite the 7% decline in ETH futures premium, caution is advised against interpreting it as a bearish signal, considering historical examples and upcoming catalysts.

After years of tireless development on a self-driving car initiative that commenced in 2015, Apple faces another detour as the much-anticipated electric vehicle (EV) release is rescheduled for 2028. Originally eyeing a 2026 debut, sources reveal that technical challenges have prompted Apple to shift gears towards a more conventional EV approach.

Insiders familiar with the Apple Car project unveil a pivot from the initial vision of a fully autonomous vehicle to a more streamlined electric model with limited features. Following a decade of speculations surrounding a potential Tesla rival, Apple seems to be recalibrating its strategy. Instead of further postponing the elusive self-driving dream beyond 2028, the tech giant is steering towards a tangible electric future.

Apple remains tight-lipped about the recent developments, leaving enthusiasts eager for official confirmation. However, Bloomberg reports suggest that the new 2028 release date is a modest acceleration from previous projections. The Apple Car project, often hailed as one of the company’s most groundbreaking endeavors, is generating immense anticipation akin to the iconic iPhone launch.

Venturing into uncharted territory, Apple’s foray into electric vehicles marks a significant departure from its traditional tech-focused endeavors. The code-named Titan and T172 projects, initiated in 2015, have witnessed leadership changes and production hiccups, contributing to the extended timeline. As the road to realization becomes clearer, hopes are pinned on the forthcoming years, eagerly awaiting Apple’s debut on the electric vehicle scene.”

The gaming industry kicked off 2024 with a remarkable milestone as “GIRAND: IN THE LOST CITY” secured its spot among the top 10 projects by Forbes Portugal, marking a significant achievement in GameFi development. This event holds tremendous importance for the industry, particularly due to its groundbreaking features and the potential influence it could have on the future of the gaming world.

Briefly About the Project

“GIRAND” represents the next generation in Play2Earn projects, providing players with unparalleled immersion in the thrilling world of AAA gaming, with stunning 3D graphics. Drawing inspiration from Lovecraftian myths and ancient Greek philosophy, the game tells the story of the ancient kingdom reminiscent of Atlantis. The developers devoted special attention to details, including music composed specifically for the game to emphasize its ambiance and story.

 

GIRAND stands out for its exceptional accessibility, seamlessly combining the best of both Web2 and Web3. This innovative approach ensures that even individuals unfamiliar with cryptocurrencies can effortlessly dive into the gaming experience and interact with the digital economy. New players can easily start their journey by simply logging in through Telegram, with no need to create a cryptocurrency wallet.

 

The main advantage of GIRAND is its strong and dedicated team, consisting of professionals with experience in large companies such as Blizzard, Mail.ru, and 1C. The project’s leader, Sergey Fominykh, is an experienced digital agency owner and investor with a rich background.

Game Economy

The game economy is based on NFTs and introduces innovative mechanics with restrictions on payouts and taxation of specific transactions. Such an approach contributes to the sustainable growth of players’ activity and solves the longstanding issue of Ponzi schemes that have previously deterred investors in alternative projects.

 

The developers want to make it clear that “GIRAND” is primarily a game, and the chance to make money is an added perk. Players can earn income by finding rare NFTs while playing the game.

 

GIRAND is distinctly global, with its primary office in Dubai and a team scattered across the globe. It underlines the creators’ dedication to fostering international collaboration and promoting innovation in the industry.

 

Towards the end of 2024, the developers have something special in store – a big offline tournament in the UAE. It’s a chance for everyone to join in, connect with the project’s community, and wrap up the year on an exciting note following the buzz of the game’s launch earlier in the year.