Blockchain DXB

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05th Sep: Blockchain DXB Podcast
🚨 Uniswap 🆚CFTC 🔻Ethereum ETFs Outflows 👀Layer one (L1) blockchain networks suck 🏦Zürcher Kantonalbank: Crypto trading & custody 💯The Sandbox - India METAVERSE news
🚨 The U.S. Commodity Futures Trading Commission (CFTC) has fined Uniswap Labs $175,000 for allegedly offering illegal leveraged or margined retail commodity transactions in digital assets. Official charges here https://lnkd.in/d_AVsZiS order requires Uniswap Labs to pay a $175,000 civil monetary penalty and to cease and desist from violating the Commodity Exchange Act (CEA), as charged.
👁️ The case was settled without Uniswap admitting or denying the charges. Uniswap's Chief Legal Officer, Katherine Minarik, emphasized their focus on advancing DeFi. This isn't Uniswap's first regulatory challenge; in April, the SEC issued a Wells Notice, signaling potential enforcement action, which Uniswap contested in May, arguing that the SEC was overstepping its jurisdiction.
🔻 Ethereum ETFs Saw $476 Million outflows in their first 30 days after July 23 launch.driven by the unlocking of assets in Grayscale’s Ethereum Trust following its conversion to an ETF. ETHE’s assets dropped from $10 billion to $4.7 billion, with some funds shifting to Grayscale’s Mini Trust, now holding $924 million. Despite the rough start, Bloomberg analyst Eric Balchunas expects outflows to stabilize soon. Grayscale currently manages the two largest Ethereum ETFs, with @BlackRock and Fidelity trailing behind. Info via DL News here https://shorturl.at/O6uaU
📊 A report by Coin Metrics researchers Tanay Ved &Matías Andrade reveals that while layer one (L1) blockchains started 2024 strong, they've since lost momentum. The study here https://coinmetrics.io/ highlights significant drops in on-chain activity for Ethereum, Solana, and Bitcoin. Year-to-date returns for most L1 tokens have dropped below 50%, with declining transaction volumes leading to reduced total fees.
🏦 Zürcher Kantonalbank, Switzerland's fourth-largest bank, now offers Bitcoin and Ethereum trading and custody services via ZKB eBanking and ZKB Mobile Banking. With over $290 billion in assets, ZKB serves retail, corporate, and institutional clients. Since September 2024, clients can buy, sell, and securely store cryptocurrencies through the bank. Alexandra Scriba, Head of Institutional Clients & Multinationals, discusses the new offering and its benefits. Info here https://shorturl.at/q7y8t
🟣 India has more than 66,000 creators on the Metaverse platform compared with 59,989 creators in the U.S. and 25,335 in Brazil. Article by CoinDesk here https://shorturl.at/aCdaD Growth was driven by The Sandbox's projects and its Indian venture, BharatBox, backed in part by CoinDCX, a crypto exchange with 16 million users.
🟠 Two UAE news (See slides)
- Exotel floats a new local cloud for CX and AI solutions (KSA)
- Klumi Ventures and DWF Labs Join Forces to Grow the UAE Web3 Ecosystem 

For slides click here: https://shorturl.at/4zORu

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⚡ Ethereum address 0x2662CFE66d24bB7930b9d9dC0B5Fe809A1501d28

04th Sep: Blockchain DXB Podcast
🚀 Bitcoin hashrate 🏦Bank of Japan - Interest rate hike ❗Ripple smart contracts to XRP Ledger 👁️ Terraform Labs moves $62M worth BTC 💰Central banks - Gold accumulation🚨
🚀 The Bitcoin network hash rate hit a new high of over 740 exahashes per second on September 3rd, despite a recent 10% drop in Bitcoin's price. This surge reflects strong confidence in Bitcoin's long-term sustainability, with major mining companies like Whatsminer and MicroBT launching advanced machines to capitalize on the trend. Riot Platforms also expanded by acquiring Block Mining for $92.5 million. While the rising hash rate doesn't directly impact Bitcoin's price, it enhances network security and often signals upcoming bullish trends. via Bitcoin Magazine https://shorturl.at/thxWt
⬛ Bank of Japan Governor Kazuo Ueda has indicated that the central bank may continue raising interest rates if the economy and inflation meet expectations. This follows a July rate hike that led to the unwinding of yen carry trades, which in turn destabilized risk assets like cryptocurrencies. The potential for further rate increases could have additional effects on these markets. Info via Bloomberg here https://rb.gy/96r6ik
🔵 Ripple is expanding programmability including smart contracts, to the XRP Ledger developer ecosystem. This move aims to provide builders, entrepreneurs, and users with additional customizability for a variety of use cases, accelerating innovation and attracting developers looking to leverage XRP Ledger's expanded capabilities. Info here https://shorturl.at/wt33e
- Some features include Escrows, NFTs, authorized trust lines, payment channels, and the DEX + AMM
👁️ Arkham Intelligence has highlighted that on Sept. 2, Terraform Labs moved more than 1,075 Bitcoin from one of their wallets, Do Kwon could have had access to the Terraform Labs wallet containing more than 1,075 BTC? Details of the transaction are here https://shorturl.at/NPznp The power of Publicly verifying transactions - one of the pillars of Open Blockchain. These transactions won't be publicly available once CBDCs go live!
💰 Krishan Gopaul, Senior Analyst at the World Gold Council reported that central bank net gold purchases surged more than twofold to 37 tonnes in July. The National Bank of Poland emerged as the top purchaser for the month, with the Central Bank of Uzbekistan & the Reserve Bank of India (RBI) following closely behind. Article here https://shorturl.at/pphAW
What does this mean for Gold and Bitcoin? Check out today's Blockchain DXB episode we discuss the following
❗ Implications for Gold
- Safe Haven Appeal:
- Continued Demand
- Price Support:
❗ Impact on Bitcoin/Crypto
- Alternative Safe Haven:
- Diversification Strategy:
- Inflation Hedge
- Market Sentiment
🟠 Two UAE news (See slides)
⚡Binance P2P Introduces Merchant Ambassador Program for Saudi Arabia
⚡ Abu Dhabi Launches Ambitious AI-Driven Sea Cage Aquaculture

For slides click here: https://shorturl.at/8KPDh

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03rd Sep: Blockchain DXB Podcast
📊 U.S. economic data - This week 🔥Cardano- Chang Hard Fork 🚨Bitcoin hedge fund by Hilbert Capital & Xapo Bank 💰 Metaplanet partners with SBI VCトレード - BTC
📊 Economic releases begin Tuesday with the ISM manufacturing PMI for August. A weak PMI reading could lead to a Federal Reserve rate cut, lowering the dollar and increasing demand for riskier assets. Currently, interest-rate markets anticipate a 70% chance of a 25 basis point cut and a 30% chance of a 50 basis point cut in September, according to CME's FedWatch tool. Check out Blockchain DXB episode we share more information on this. We also discuss the impact it would have on the Stock Market & Crypto market keeping in mind the following points
- Rate Cuts
- Dollar Movement:
- Risk Appetite
- Increased Demand
- Inflation Hedge:
- Market Sentiment
🔥 Cardano Implements Major Governance Shift with Chang Hard Fork
The new "Chang" upgrade introduces decentralized governance through a new structure with a Constitutional Committee, Delegate Representatives, and Stake Pool Operators. This shift moves control from the founding entities to the ADA community, allowing direct influence over blockchain decisions. The upgrade is being rolled out in two phases, starting with an interim committee and leading to full community participation in 90 days. This marks the beginning of the Voltaire era, advancing Cardano’s commitment to decentralization.
👀 Hilbert Capital and Xapo Bank have partnered to manage a new Bitcoin hedge fund, starting with over $200 million in investments. The fund will offer structured credit opportunities for businesses and investors, with lower fees than Hilbert's usual hedge funds. Both firms expect significant growth in the coming year. Info via Bitcoin Magazine https://shorturl.at/F2u6h
❗ Metaplanet Inc. has partnered with SBI VCトレード Trade to support its Bitcoin accumulation strategy, offering compliant custody services and the option to use Bitcoin as collateral. This partnership aligns with Metaplanet's financial strategy and SBI VC Trade's role as a leading crypto services provider in Japan. Info here https://shorturl.at/Y2qLu
❗ Metaplanet’s Bitcoin holdings stood at 360.368 BTC as of August 20, when the company acquired an additional $3.4 million of the original cryptocurrency.
🟠 Two UAE news (See slides)
⚡ Qatar Financial Centre (QFC) Authority Issues QFC Digital Assets Framework 2024
⚡ Huawei Introduces AI-ready Infrastructure in Saudi Arabia to Accelerate Local Digital Transformation  for Vision 2030

For slides click here: https://shorturl.at/dQ60J

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02nd September: Crypto & Coffee at 8
Spot Bitcoin ETF outflows Crypto.com + PayPal Bridge Raises $40 Million for stablecoin North Korean Hacker Targeting Crypto Users Quidax license
Bitcoin ETF Overview by Coin glass here https://lnkd.in/dWNCZzn5 shows BlackRock's spot Bitcoin exchange-traded fund (ETF) recently experienced net outflows exceeding $13 million, marking the first time since May that the fund has lost more capital than it gained. Similarly, other spot Bitcoin ETFs, such as those from Grayscale Investments, Fidelity Investments, and Bitwise, have also seen significant withdrawals. Despite this trend, analysts consider the amounts withdrawn to be minor and not a cause for concern.
Crypto.com has introduced PayPal as a payment method for U.S. users to fund cryptocurrency purchases on the platform. This integration allows seamless transfers between PayPal and Crypto.com wallets, with plans to expand to other markets soon. The move is part of a broader collaboration to bridge traditional and digital payments, building on previous initiatives like using PayPal to top up the Crypto.com Visa Card and supporting PayPal USD (PYUSD) on Crypto.com. Official info here https://shorturl.at/sbjNv
Coinbase and Square vets aim to level up stablecoins with Bridge and $58 million in funding led by Sequoia and Ribbit. The company aims to build a global stablecoin payments network that allows businesses to use stablecoin rails effortlessly. Bridge, which counts SpaceX and Coinbase among its customers, aspires to be a Web3 equivalent of payments processor Stripe. info via Fortune https://shorturl.at/exC4D
Microsoft has identified a North Korean threat actor, Citrine Sleet, exploiting a zero-day vulnerability (CVE-2024-7971) in Chromium's V8 engine to execute remote code, targeting the cryptocurrency sector. The flaw, linked to the FudModule rootkit, was patched by Google on August 21, 2024. Citrine Sleet uses social engineering and fake crypto platforms to deploy malware like AppleJeus. Microsoft advises updating systems and browsers to prevent such attacks and offers detailed detection and mitigation strategies.via blog https://shorturl.at/XkBS3
Quidax announced that it has become the first crypto exchange to receive a provisional operating license by Nigeria’s Securities and Exchange Commission (SEC) as a Digital Assets Exchange. The license enables Quidax to work with banks and financial institutions, fostering trust and security in the Nigerian crypto space. CEO, Buchi Okoro, praised the SEC for its role in enhancing the industry and expressed excitement about the future of crypto in Nigeria. Info via Bitcoin.com https://shorturl.at/umw6S
Two UAE news (UAE news)
UAE - Crypto.com + Standard Chartered partner for global fiat services
Dubai AI Campus, and Google Cloud announce collaboration to support the startup ecosystem

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Podcast Shownotes: Blockchain DXB & Society X - LinkedIn Live

Episode Title: Unfiltered Chat - Weekly Crypto, Blockchain & AI Snapshot

Date: August 29th, 2024

Hosts: Markose Chentittha + RA George

Special Guest: Andre Pemmelaar, Agentic AI Labs

LinkedIn: Andre Pemmelaar https://www.linkedin.com/in/andre-pemmelaar-a8343a7a/

Episode Overview:

In this episode of Blockchain DXB & Society X, we dive into the latest developments in the world of crypto, blockchain, and AI. This session covers key announcements, market movements, regulatory updates, and the intersection of AI and decentralized technologies.

Topics Discussed:

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29th Aug: Crypto & Coffee at 8
🔴 OpenSea 🆚 SEC ❗Ton Blockchain down❗CME Group BTC futures contract ⚡ Sony - Blockchain Testnet
🔴 OpenSea said it has received a Wells Notice from the U.S. Securities and Exchange Commission warning the agency was about to sue the leading NFT platform for violation of securities laws. CEO has provided some misleading information via Twitter/ X here https://rb.gy/frxag3 He is claiming SEC is targeting NFT & Artists, not necessarily true in our opinion as the artists have not received any Wells notice. The SEC is targeting the centralized company such as OpenSea for selling NFTs as securities.
🎙️ Check out the Blockchain DXB episode for today we give our commentary on this.
🚨 Ton Blockchain - Disruption
- Block production on the TON blockchain, which is associated with Telegram, has been facing significant disruptions. For the second time in 24 hours, the network has gone down, largely due to the frenzy surrounding the DOGS meme coin. The token was launched on Monday, accompanied by an airdrop claim for 10 million users via a Telegram-based mini app. However, the overwhelming hype around this launch has put immense strain on the TON network, causing severe congestion and eventually leading to its collapse. Late on Tuesday, the network ceased processing transactions for several hours.
👀 CME Group will launch Bitcoin Friday futures (BFF) on September 30, 2024, pending regulatory approval. These weekly contracts, priced at one-fiftieth of a Bitcoin, aim to attract both institutional and retail investors by offering a more affordable way to manage Bitcoin exposure, particularly over weekends. The launch is supported by firms like Interactive Brokers, Plus500, and Webull, who view the contracts as a flexible and cost-effective trading option. Info here https://lnkd.in/dHarVi5z
❗ Sony - Development of Blockchain "Soneium"
- A new blockchain designed to support Web3 applications and make them part of daily life. Soneium will be an open, public network, enabling users to access Web3 games, NFT marketplaces, and entertainment services via digital wallets. Sony plans to collaborate with its various businesses to create user-friendly Web3 services. A testnet for developers will be launched soon, with a future goal of making the Soneium mainnet publicly available. https://lnkd.in/d79jHbqm
🟠 Two UAE news- (See slides)
⚡ ADNOC Group announced an AI-enabled process optimisation technology
⚡ UAE’s myco.io raises $10m; plans expansion, blockchain migration

For slides click here - https://tinyurl.com/5fa5x7n3

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28th Aug: Crypto & Coffee at 8

🟢MakerDAO rebrands to Sky 🟣Ethereum Foundation spending 👀 New Zealand Crypto Tax Framework ❗ Russia stablecoin plan?

🟣 MakerDao to SKY: A Defi decision in a Centralized way?

👀 Rune Christensen, co-founder of Makerdao posted a video on Twitter (X) here https://rb.gy/e2se1y We are in the endgame now https://sky.money/ is the new project 

The aim is to unlock the next evolution in DeFI, Decentralized, non-custodial services and rewards 

- Brand new feature- Native token reward

- End-to-end focus on simplicity & ease of use 

- The sky protocol will have two upgraded tokens 1) USDS stablecoin and 2) Sky governance token. Loads of useful information about the App were discussed in the video. Importantly, the original tokens, DAI and MKR, will continue to exist, with each MKR token being equivalent to 24,000 SKY tokens.

- Stars- Sub-DAOs with 1st star called Spark- A top 10 Defi protocol already? The launch date is later on

- Important - It will be restricted in some countries such as the USA & UK ( Not borderless, censorship-resistant) The project goes live on 18th September

🎙️ Check out the Blockchain DXB episode we share our commentary on this

🟢 Vitalik Buterin and Josh Stark provided a breakdown of the Ethereum Foundation's 2023 spending on Aug. 27 via X here. We recommend going through a series of posts here https://t.ly/BOa7J

- 36.5% allocated to "new institutions" supporting Ethereum.

- 24.9% spent on Layer-1 research and development.

- Kain Warwick criticized the foundation for neglecting DeFi.

- Buterin responded, emphasizing his focus on sustainable DeFi projects.

- The Ethereum Foundation partnered with ETH Kipu to promote blockchain education in Argentina:

- Hosted high school workshops.

- Launched a Solidity programming course.

👀 New Zealand plans to implement the OECD's crypto reporting framework by April 2026. The framework aims to ensure that firms provide tax information on crypto transactions in a way that facilitates international information exchange and combats tax evasion. Info here https://t.ly/UTa_X

-Crypto-asset service providers would have to collect information on their users' transactions starting April 1, 2026, 

- Firms will have until June 30, 2027, to report the information to the Inland Revenue.

🚨Russia stablecoin plans

- Russia plans to launch two new crypto exchanges in Moscow and St. Petersburg to support foreign economic activity. These exchanges will likely operate under an experimental legal regime due to sanctions risks and will initially serve large companies. They aim to create stablecoins, but face challenges with technology and liquidity. The exchanges will be regulated under an experimental legal framework rather than existing cryptocurrency laws. 

🟠 Two UAE news (See slides)

⚡ Okto Secures Business License from RAK Digital Assets Oasis

⚡ KAUST enhances its scientific research efforts with 67 projects in AI, bioinformatics, cybersecurity

For slides click here: https://tinyurl.com/352afa2h

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The episode's focus on how blockchain, crypto, and AI intersect with privacy, freedom of speech, and self-sovereign identity.

Key Topics:

27th Aug: Crypto & Coffee at 8

👀 India - 5M CBDC users 🔨 Cardano’s Chang Hard Fork Delayed 🟠 Wyoming stablecoin 📊 Metrics- Bitcoin’s Traffic Days in 2024

👀 Digital Public Infrastructure. We strongly recommend watching the full speech here via the Reserve Bank of India (RBI) https://shorturl.at/8X4S0

India has reached 5 million retail users for its central bank digital currency (CBDC) since launching digital rupee pilots in late 2022, involving 16 banks. The Reserve Bank of India (RBI) is cautiously testing both retail and wholesale segments, focusing on payment use cases and exploring offline and programmable functionalities. 

🚨 RBI Governor emphasized the importance of not rushing the CBDC rollout, stressing the need to fully understand its impact on users, monetary policy, and the economy before a gradual, phased introduction. Das expressed confidence in CBDC's potential for future payment systems, both domestically and cross-border. Possibility of CBDC to be used offline and more & Digital Public Infrastructure merging with Ai 

🎙️Check out today's Blockchain DXB episode we share the potential negatives of India's CBDC initiative when compared to cryptocurrencies:

- Next Chang HF window, September 1st

🟣 Charles Hoskinson that Binance and a few others need more time to get their houses in order for successful Chang Hard Fork

🟣 EMURGO has a detailed breakdown of what the upgrade is here https://shorturl.at/5Hs6m The Chang Hard Fork is Cardano's upgrade to transition to community governance.  

- Part 1 introduces an Interim Cardano Constitution and a governance body (ICC). 

- Part 2 establishes Delegate Representatives (DReps) and voting for Stake Pool Operators (SPOs) to make Cardano fully community-run.

👀 Wyoming is launching its own U.S. dollar-backed stablecoin, the Wyoming Stable Token, in early 2025. Aimed at offering faster, cheaper transactions, the token could serve as a model for a digitized dollar. Backed by U.S. Treasurys, it will also generate interest to fund public schools. Wyoming focuses on transparency and full reserve backing, positioning itself as a leader in crypto growth as the Federal Reserve Board Reserve hesitates on a central bank digital currency (CBDC). via CNBC https://shorturl.at/NNte8 

🚨 In 2024, Bitcoin hit several significant milestones, including an all-time high price, peak hashrate, and record on-chain fees. The network also saw its busiest day ever on April 23, with 927,010 transactions. The top ten busiest days for Bitcoin transactions in 2024 mostly occurred between late April and August, reflecting its growing influence in both DeFi and TradeFi. Info via Bitcoin.com https://shorturl.at/ZtZtW

🟠 Two UAE news

⚡ CoinMENA partners with Bitpanda Technology Solutions

⚡ MAS Clinic leads the way in AI-powered dentistry

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