Blockchain DXB

15th April: Crypto & Coffee at 8
🔻 Bitcoin🔻 but BTC Dominance 🚀 Binance to stop Ordinals❗ US, UK, Germany Largest Gov crypto hodlers 🌎 Worldcoin metrics

🔻 The price of Bitcoin plummeted after Iran launched missile attacks on Israel, sparking widespread selling of cryptocurrencies. This marked Iran’s first direct assault on Israel, raising fears of a full-scale conflict. Bitcoin dropped 8.07% to $61,710.58, following a previous 5% decline. Despite recent losses, Bitcoin hit an all-time high of $73,750.07 earlier in 2024, with hopes for potential gains surrounding the upcoming Halving event. However Bitcoin Dominance 🚀 has pumped up to 54.44% multiyear high as BTC price volatility sends altcoins shooting lower. But, Dogwiththat & Wormhole has been up by 33.61% & 28.08% respectively

🚨 In a blog post on Thursday, Binance said it will “cease support for trades and deposits of Bitcoin NFTs” starting April 18 at 6:00 UTC. users will no longer be able to buy, deposit, bid on, or list NFTs on the Binance NFT Marketplace via the Bitcoin network. Blog here https://lnkd.in/dusM2N5j Cryptoslam reports that Bitcoin ranks as the second most favored network for NFT trading, with its total trading volume for digital collectibles in the past 30 days challenging Ethereum’s dominance.

👀 According to Arkham Intelligence, a crypto analytics firm, the United States, United Kingdom, and Germany are among the leading countries in terms of government-held cryptocurrencies. The U.S. government tops the list with over 212,847 bitcoins, along with holdings in other cryptocurrencies like ether. The British government follows with 61,245 BTC, and Germany holds 49,859 BTC. Meanwhile, El Salvador has been steadily acquiring cryptocurrencies, particularly bitcoin, with President Nayib Bukele announcing a daily purchase of one bitcoin for the country. As per Arkham’s data, El Salvador currently holds 5,719 BTC. Info here https://lnkd.in/dVTps5WR

🌎Worldcoin reached 10M users, 70M transactions and at least 13 goats bought

❗ Worldcoin’s World App has hit 10 million users, with 2 million daily and over 5 million monthly. Users sign up via eye scans. It aims to provide universal basic income. A user in Kenya bought a goat with Worldcoin, sparking donations that led to 13 goats. The first goat was named “Sam” after Sam Altman, co-founder of Worldcoin and CEO of OpenAI, known for ChatGPT, a leading AI product. Tiago Sada, head of product, engineering and designer at Tools for Humanity, which is developing Worldcoin mentioned via Twitter (X) here https://lnkd.in/duznakE2

🎙️ Check out Blockchain DXB’s Crypto & Coffee at 8 we share our commentary on it. This week we also delve into Bitcoin technical concepts

🟠 Two UAE news (See slides)
⚡ BitOasis welcomes new retail and institutional customers
⚡ NEOPIN, the Permissioned DeFi platform based in Abu Dhabi, announced a new RWA platform.

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11th April: Crypto & Coffee at 8
🔴Breaking SEC 🆚 Uniswap 👀 FDUSD stablecoin 🚀65 Million Ordinals 5 Million 🚨Salvadorans Linked to Chivo Wallet El Salvador’s compromised❗ First Tokenized Debt in El Salvador

🔴 Uniswap received a notice from the SEC about potential enforcement action regarding allegations of acting as an unregistered securities broker and exchange. Uniswap Labs CEO Hayden Adams expressed readiness to fight, emphasizing confidence in their legality and frustration with the SEC’s focus. The company denies its tokens are securities and criticizes the SEC’s approach. Uniswap argues U.S. Securities and Exchange Commission lacks congressional authority to regulate crypto markets, pointing to stalled regulatory efforts. The situation reflects broader regulatory uncertainty in the crypto industry. https://lnkd.in/dAsATPdv

💯 First Digital is expanding the usage of its stablecoin FDUSD among DeFi users. FDUSD has become the fourth-largest stablecoin with a market capitalization of $3.3 billion. The token has gained popularity due to Binance’s trading promotion and has seen a trading volume of over $10 billion in the past 24 hours, primarily from BTC, ETH, and USDT trading pairs on Binance. More info via CoinDesk here https://lnkd.in/dKJb-Yqj

📊 The Bitcoin network is experiencing a surge in “Ordinals inscriptions,” similar to NFTs, where digital content is inscribed onto individual satoshis, the smallest unit of Bitcoin. This trend has led to over 65 million inscriptions, generating over $458 million in network fees. This development coincides with the approaching halving event, reducing block rewards. Additionally, there’s a growing interest in incorporating Ordinals into Bitcoin decentralized finance (BTCFi), potentially leveraging layer 2 solutions to enable services like lending and derivatives markets. Info via Dune-Data 

👀 A database with the personal information of over 5 million Salvadorans was recently leaked in a data breach forum. The database, which has been around since August and has recently been linked to Chivo, El Salvador’s national cryptocurrency wallet, has 144GB of data, including the full name, unique identity number, date of birth, address, and an HD pic of every user. Info via Bitcoin here https://lnkd.in/dnezdX4K 

🔴 Bitfinex Securities and Inversiones Laguardia S.A. de C.V. have launched El Salvador’s first tokenized debt offering, aiming to raise $6.25 million through the HILSV token on the Liquid Network. This initiative supports the construction of a Hampton by Hilton hotel complex at the international airport, reflecting El Salvador’s evolving digital asset landscape since adopting bitcoin as legal tender in 2021. Info via the blog here https://lnkd.in/dRgQFUjK 

⚡ Two UAE news
⚡ Dubai crypto watchdog aims to ease burdens for small entities- Paris Blockchain Week
⚡ aramco and GCT Semiconductor sign 5G, AI deal in Saudi Arabia

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10th April: Crypto & Coffee at 8
🚀CPI numbers — Bidenflation at 3.5%🚀 Biden’s mining tax 👀 Hong Kong Bitcoin❗ ETF A16z Releases Jolt

🚀 Bidenflation: In March, the CPI for All Urban Consumers increased 0.4 per cent, seasonally adjusted, and rose 3.5 per cent over the last 12 months, In anticipate of this news Crypto is down Inflation data can be found here https://lnkd.in/dMFScFke. The latest consumer-price index is a critical data point for the Federal Reserve System, based on this he would decide to increase the interest hike.
❗ How will this news impact the price of Bitcoin & Cryptocurrencies?
👀 Biden’s 2025 budget proposal introduces regulatory changes for cryptocurrency. Two changes aim to align crypto trading with traditional finance rules, seen as positive steps. However, a controversial 30% tax on cryptocurrency mining electricity is included, risking driving miners overseas. Critics argue it fails to differentiate between sustainable and nonrenewable sources, potentially harming the industry’s growth. The administration is urged to reconsider and focus on lighter reforms for crypto mining concerns. Info via Cointelegraph https://lnkd.in/dtqr5sG8

🔴 Meanwhile, Republican Sen. Tillis Calls for ‘Light’ Crypto Regulatory Framework Ahead of Presidential Elections. 🔵 However Democratic Wally Adeyemo Deputy Treasury Secretary is asking Congress for increased powers to go after crypto crime. via CoinDesk https://lnkd.in/dbd_y7SJ

⚡ Reuters states Hong Kong set to approve its first spot bitcoin ETFs in April. Article here https://lnkd.in/dkVhYgR6 Hong Kong is set to approve its first spot bitcoin ETFs, becoming a leader in Asia’s crypto investment market. Regulators are expediting approval to enhance the city’s financial appeal, aiming to attract global investment and foster crypto adoption. Mainland Chinese and Hong Kong asset managers are applying for approval, signalling strong interest despite cryptocurrency trading bans in mainland China. Previous approvals for cryptocurrency futures ETFs in 2022 have seen significant growth. Hong Kong-based Value Partners is also exploring a spot bitcoin ETF launch.

🚨 A16z Releases Jolt, a ‘Zero-Knowledge Virtual Machine’. The release is the product of a16z’s first foray into deep-tech research.
- Jolt, supported by RISC-V ISA and Rust programming language, allows programmers to verify application execution and generate proofs of correctness. According to Eddy Lazzarin of a16z crypto, Jolt claims to be “10x” faster than its closest competitor, RISC Zero. ZK cryptography, with its mathematical proofs called “ZK proofs,” has applications beyond blockchain. However, it has gained prominence alongside the blockchain industry’s growth, aiding in fee reduction, speed enhancement, and transaction privacy preservation.

⚡ Two UAE news
⚡ Crypto.com’s Dubai Entity Receives Full Operational Approval
⚡ SDAIA | سدايا enhances Umrah services with AI and secure digital solutions

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09th April: Crypto & Coffee at 8 

👀Solana Network congestion 🔻PayPal stablecoin down by 38%🔻 MicroStrategy and Coinbase stock 🚀 Base 1 in 6 memes are scams 👀

👀 The Solana network is experiencing significant congestion problems, resulting in a staggering 70% failure rate for transactions

🔴 Solana, known for speed and low fees, faces congestion, with 70% of transactions failing. Anza developers are addressing issues linked to internet protocols. Memecoin speculation and bot trading contribute to increased traffic. Anatoly Yakovenko notes the technical challenges in fixing the network. Scalability remains a concern. This highlights the need for robust network design and continuous development in blockchain.

Last week Solana (SOL) and its associated tokens, including Wormhole (W) and Dogwifhat (WIF), have experienced significant losses in the past 24 hours. SOL is down 7%, while W and WIF have dropped by 17% and 12% respectively. Congestion issues on the Solana network have contributed to these declines.

❓How will Centralized Blockchain Solana fix the issue?

🔴 In March, the circulation of PayPal’s stablecoin, PYUSD, dropped by 39% compared to February, totaling $188.5 million. The stablecoin’s circulation peaked in February and January at $304 million and $301 million, respectively. As of March 29, the PayPal USD treasury included $14.9 million in United States Treasury bonds. Despite the drop, PYUSD remains backed by U.S. dollar deposits and Treasurys. Market capitalization for PYUSD has declined since late February but recently saw a 3% increase, reaching $194 million. Launched in August 2023 in collaboration with Paxos Trust, PYUSD has gained prominence as the 13th largest stablecoin by market capitalization.

🚀 Bitcoin’s surge near $72,000 has boosted the stock prices of companies tied to the cryptocurrency. MicroStrategy’s stock rose over 6% to $1,531.67, driven by its aggressive Bitcoin acquisitions totaling $15 billion. Coinbase, America’s largest crypto exchange, also saw a 6% increase, reaching $255.99 per share. Tesla, holding over 9,000 BTC, saw a 5% rise in its stock price. Bitcoin mining companies like Hut 8 Crop and CleanSpark experienced marginal increases as well. Via Decrypt here https://lnkd.in/dJbJrSdP

❗ Base, a Layer 2 blockchain, was launched by Coinbase to improve Ethereum’s scalability and speed. However 1 in 6 new Base meme coins are scams, 91% have vulnerabilities The tokens were analyzed by automated auditors on the trading analytics platform DEXTools to determine whether each project has implemented three fundamental security measures: locked liquidity, verified contracts and absence of honeypots. More info via Cointelegraph here https://lnkd.in/dRZDrQQc Check out our commentary on this

🟠 Two UAE news

⚡ Metaverse: The Hype, Reality & New World Order by Blockchain DXB 15th April

Registration Link here: https://tinyurl.com/y9k2nenv

⚡ Central Bank Digital Currency: The Basics, Threats to Freedom & role in the Metaverse 15th April

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08th April: Crypto & Coffee at 8
💡 Ripple stablecoin 👀 Do Kwon & Terraform Labs Liable for Fraud❗ 🤘🏻Avenged Sevenfold NFT ⚫BlackRock ETF update

Ripple, plans to launch a U.S. dollar stablecoin, entering the $150 billion market currently dominated by Tether and Circle. Backed 1-to-1 by assets like U.S. dollar deposits and government bonds, Ripple’s stablecoin aims to provide stability in the cryptocurrency market. CEO Brad Garlinghouse cites instability among competitors as a driving factor. Despite ongoing legal challenges from the SEC, Ripple remains optimistic about its stablecoin’s role in expanding the XRP ecosystem and its overall future. More info via CNBC here https://lnkd.in/dKwGaNTd

🔴 How will a Ripple stablecoin impact XRP?
❗ Jeremy Allaire, the CEO of stablecoin issuer Circle, has welcomed Ripple’s entrance into the market. He said it was “encouraging to see more companies taking a compliance-first approach to building on-chain dollars.”

👀 A Manhattan jury found Terraform Labs and its co-founder Do Kwon liable for civil fraud charges by the SEC regarding the $40 billion collapse of the Terra ecosystem in May 2022. They misled investors about the stability of Terra USD (UST) and the Terra blockchain’s use cases. The algorithm behind UST’s peg to the dollar was misrepresented, relying on continuous trading instead of self-healing capabilities as claimed. Kwon, currently in Montenegro facing criminal charges in the U.S. and South Korea, awaits extradition decisions amid ongoing legal battles. Official statement from U.S. Securities and Exchange Commission https://lnkd.in/diC6xeUP

🤘🏻 Avenged Sevenfold’s Season Pass is Turning Heavy Metal Fans Into Blockchain ‘Evangelists’
❗ Avenged Sevenfold launches Season Pass, a decentralized fan rewards platform akin to Fortnite’s battle pass, built on Polygon. Frontman M. Shadows aims to gradually introduce fans to Web3, turning them into advocates. Fans earn rewards for engaging in band-related activities, tradable on third-party marketplaces. Leveraging their established fanbase, Avenged Sevenfold drives Web3 adoption despite initial challenges. They aim to lead by example, proving the utility of Web3 for musicians and fans alike. Info via Decrypt here https://lnkd.in/dA2WZvQC 

⚫ BlackRock has expanded the list of authorized participants (APs) for the iShares Bitcoin Trust by adding Goldman Sachs, Citigroup USA Inc., UBS, Citadel Securities, and ABN AMRO. With these additions, the total number of APs now stands at nine, including existing participants Jane Street Capital, LLC, J.P. Morgan, Macquarie Group, and VIRTU AMERICAS LLC. Typically, popular ETFs feature more than a dozen APs. They continue to attract billions of dollars from investors. Filings with SEC here https://lnkd.in/dEk8vKha 

🟠 Two UAE news (See slides)
⚡ Crypto Polo Cup set to debut in Dubai, uniting world-class Polo players and Web3 enthusiasts
⚡ Abu Dhabi to host The Bitcoin Mena Conference in 2024

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⚡ Ethereum address 0x2662CFE66d24bB7930b9d9dC0B5Fe809A1501d28

04th April: Crypto & Coffee at 8
❗ Franklin Templeton & Bitcoin Ordinals ❗ Ethereum ETF update 😱US govt transfer 30,174 (Silk Road to Coinbase) 🔥KuCoin Market Share Slashes in Half

🚀 The Rise of Bitcoin Ordinals
❗ Franklin Templeton mentioned via Twitter (X) The Rise of Bitcoin Ordinals
https://lnkd.in/dACU7Pcc Franklin Templeton Digital Assets notes a surge in Bitcoin NFTs, particularly Ordinals, reflecting positive momentum in digital asset innovation. The firm highlights the growth of Ordinal collections like NodeMonkes and Runestone, indicating increased dominance in trading volume compared to ETH. Franklin Templeton has shown progressive interest in digital assets, investing in infrastructure startups, with Runestone gaining attention as a significant NFT collection.

💡 The U.S. Securities and Exchange Commission is seeking public input on proposed rule changes allowing three spot Ether exchange-traded funds (ETFs) to be listed and traded on exchanges. Bitwise Inc, Fidelity Investments, and Grayscale have submitted proposals, with a 21-day comment period. The SEC’s final decision, expected in May, has prompted concerns, with analysts noting the absence of communication as potentially concerning. However Bloomberg ETF analyst James Seyffart, CFA, CAIA expressed concern on April 2, noting that the lack of communication from the SEC does not indicate any changes in the situation regarding Ethereum ETF approval His tweet here https://lnkd.in/dSW48H8k

🚨 23rd May we find out the outcome! How will it impact the price of Ethereum?

👀 On 2nd April The US Government transferred 0,174 hashtag#Bitcoin worth $2.1 
billion seized from Silk Road to Coinbase. The wallet reportedly linked to the U.S. Justice Department (DOJ) initiated a 0.001 BTC transaction to a Coinbase Prime address. However, shortly afterwards, the wallet transferred 30,174 BTC. 
❗ Anyone can validate the transaction here https://lnkd.in/dWUarejf
👀 The power of Open Blockchain is Publicly Verifiable! Internet Detectives identified that the Bitcoin-holding wallet was seized from James Zhong, who was convicted in 2022. For context, Zhong was convicted for stealing over 51,680 bitcoins from the online black market Silk Road between 2012 and 2014. 

🔥 KuCoin, a major crypto exchange, sees its market share halve after US regulators file complaints alleging illegal activities. Users withdraw funds in panic, causing trading volume to plummet by 75%. Despite challenges, KuCoin remains operational and initiates a $9 million airdrop for affected users. Regulatory scrutiny persists as founders remain at large.

🟠Two UAE news (See slides)
⚡ First Abu Dhabi Bank (FAB) Bank partners Microsoft to develop new AI-powered banking capabilities 
⚡ ARP Digital: Digital Asset Platform With Ex-Goldman Partner as Co-Founder Gets Bahrain Crypto License
hashtag#blockchaindxb

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Guest: Timothy Mangnall, Founder of Fango & CEO at Capital Block

Host: RA George, Blockchain DXB

Date: 02nd  April  Time: 14:00

Contact details for Timothy Mangnall & Fango

LinkedIn: https://tinyurl.com/mrv29m4d

email: [email protected]

Website: https://fangolabs.tech/

Youtube: https://tinyurl.com/f28v6sp3

Telegram: https://t.me/fangoportal

Twitter (X) @fangolabs

Pitch Deck: https://docsend.com/view/y3y7bv8tm7rzd22j

Summary of the conversation

- Tim shared his extensive background in the sports industry, including experiences with renowned football clubs in London and Turkey.

- He introduced his business, Capital Block, which aids sports organizations in utilizing Web3 technology.

- Tim mentioned that his involvement with Bitcoin began in 2012 but deepened in 2017.

- He discussed the intersection of blockchain and football clubs, detailing various partnerships in this realm.

- Tim expressed his thoughts on the merging of sports and blockchain technology.

- Tim provided his candid opinion on clubs launching NFTs, as well as his YouTube video titled "How Crypto Ruined Football and What's Next?"

- He explained the shortcomings in some NFT utilities.

- Tim elaborated on Fango, its services, inspiration for its launch, and the diverse team behind it.

- Fango's focus on the MENA region was highlighted, along with reasons why it's an ideal market, according to Tim.

- Problems outlined in Fango's pitch deck and solutions offered for fans, the crypto community, and broadcasters were discussed, as Tim pointed out.

- Key features of Fango, encompassing gaming, highlights, purchases, merchandise, and unique experiences, were highlighted by Tim.

- Tim explained the incorporation of various sports into the Fango app.

- He shared insights into his relationship with Middle Eastern broadcasters and the target demographics for the Fango app.

- Benefits for sponsors advertising on the app were discussed, according to Tim.

- Partnerships with Saudi broadcasters and the differing business models were outlined by Tim.

- Tim discussed the challenges faced by Fango and strategies for overcoming them.

- Reasons for building the Fango app on Ethereum and the role of Fango Token were explained by Tim.

- Token utilities, including predictions, subscriptions, and governance voting, were detailed by Tim.

- Tim discussed the question generated by ChatGPT4 regarding Fango.

- The impact of ETFs, Bitcoin halving, Ethereum ETF, and US elections on Fango were discussed by Tim.

- Contingency plans for Fango and a focus on the business aspect were emphasized by Tim.

- Tim's music preferences and a question about a boxing event were also touched upon.

03rd April: Crypto & Coffee at 8 
🚨The U.S. Dollar Index vs Bitcoin (What caused the dump) ❗AUSD — Stablecoin by VanEck 🔵Tron 🆚 SEC 🎼Music 🆚 Ai

🔥 A strong dollar = Bad for Bitcoin
🔻 Bitcoin’s price dip today appears to have been set off by strong U.S. factory data that sent the U.S. dollar index above 105.00 for the first time in almost five months.

❗ Yesterday, the Institute for Supply Management (ISM) reported a rise in March’s Purchasing Managers’ Index (PMI) to 50.3%, up from February’s 47.8%. 
❗ This uptick in U.S. factory data could strengthen U.S. exports, potentially boosting the dollar against other currencies. A stronger dollar may, in turn, hinder Bitcoin’s recent performance.

🎙️ Check out Blockchain DXB podcast we explain this in detail such as 
- What Is the U.S. Dollar Index?
- How Is the U.S. Dollar Index Used?
- What Makes the U.S. Dollar Strong?
- Why Does the Strong Dollar Matter?
- How does it impact the Bitcoin & Cryptocurrency market?

🚨 AGORA- AUSD
- Nick Van Eck, backed by his family’s investment firm, launches a stablecoin through startup Agora with $12 million in funding. Agora aims to offer stability in the volatile crypto market, focusing on users outside the US. Managed by VanEck, the stablecoin is backed by cash and US Treasury bills. The stablecoin, backed by cash, US Treasury bills, and overnight repurchase agreements, will be managed by VanEck. While focused on customers outside the US due to regulatory uncertainties, Agora seeks to establish transparency and trust in stablecoin reserveAgora seeks partnerships with exchanges and crypto companies, avoiding the issuance of governance tokens. Van Eck aims to drive industry progress and establish trust in stablecoin reserves. info via Bloomberg here https://lnkd.in/e3DGmXpT

Can the UAE government in partnership with a private firm launch a stablecoin?

🚨 The Tron Foundation has filed a motion to dismiss the U.S. Securities and Exchange Commission lawsuit against it, arguing that the regulator’s attempt to apply US security laws to “predominantly foreign conduct” goes “too far.” The Tron Foundation claims that the tokens were sold “entirely overseas” and that steps were taken to avoid the US market. The foundation also argues that the SEC’s claim of unregistered US securities is “tenuous at best.” Tron Foundation said in a March 28 dismissal motion in a New York federal court here https://lnkd.in/eNjdPM2u 

🔥 Hundreds of musicians and songwriters have joined an open letter from the Artist Rights Alliance, urging action to halt what they see as the devaluation of artists’ work in the music industry due to artificial intelligence. Info via Medium here https://lnkd.in/en2SPm9P

🟠 Two UAE news (See slides)
⚡ Deribit’s Dubai-Based Unit Wins Conditional VASP License
⚡ Bitget partners with Onramp.money for seamless AED/NGN-to-Crypto transactions

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02nd April: Crypto & Coffee at 8 
🔻Crypto bloodbath🔻Tether.to adds BTC to its holdings🔥 UpBit volume crashes by 75% 🚨Solana Solana DeFi vol +Telegram bot drained 💰A16Z to invest $30M 

🔻Crypto Market “ Do you bleed” The Fear & Greed Index has changed from 90 Extreme Greed to 79 Greed in 24 hours as Billions are lost in crypto and the global crypto market looks RED. Check out Blockchain DXB podcast we share commentary on this & more

⚡Arkham Intelligence is stating, Tether.to the issuer of USDT, the world’s largest stablecoin based on market cap, added just shy of 8,888 bitcoin (BTC) in the first quarter. That wallet is now the holder of 75,354 bitcoins worth about $5.2 billion at BTC’s current price of $69,000, putting Tether’s profit at roughly $3 billion. Transactions tracked on the blockchain show 8,888 BTC were recently sent from the crypto exchange Bitfinex to an undisclosed Tether wallet. Details of the wallet can be seen here https://lnkd.in/dQqn5dD5 

🔻 The trading volume on South Korea’s UpBit exchange has plummeted by 75% from its peak in March, signaling a significant slowdown in altcoin trading beyond major cryptocurrencies like Bitcoin and Ethereum. The surge earlier was driven by factors like upgrades and political developments, but as volumes declined, questions arose about the sustainability of the altcoin rally. South Korean investors, particularly on Upbit, have shown a strong interest in altcoins despite high risks. This decline in volume suggests a shift away from the frenzied altcoin trading seen earlier, raising doubts about their continued valuation. CoinDesk https://lnkd.in/dcdiXNc3

🔻Solana’s decentralized exchanges (DEXs) saw a record-breaking trading volume of over $58.4 billion in March, driven by the meme coin frenzy. However, Solareum, a Telegram trading bot, shut down after a security exploit drained $523,000 worth of SOL from user wallets. Over 300 users were affected, initially suspected to be linked to BONKbot but later attributed to Solareum. Despite efforts to address the issue, users demand compensation, underscoring risks in crypto trading platforms.

💰 VC firm Andreessen Horowitz (a16z) is investing $30 million in technology-centric gaming startups through its early-stage accelerator program called SPEEDRUN. The investment will be spread over the next 45 days, with each selected startup receiving $750,000. The program is open to startups at various stages, from ideation to those with established products and revenue. Competition for admission is intense, with only 1% of applicants accepted in the last cohort. However, 80% of companies from the first cohort secured funding from investors after Demo Day. Info via Andrew Chen Twitter here https://lnkd.in/dt39s6HF

🟠Two UAE news
⚡ Web3’s largest Account Abstraction provider, Biconomy, receives strategic investment from Major Investors
⚡ Riyadh Air | طيران الرياض and Artefact partner to build data analytics platform, develop AI solutions

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01st April: Crypto & Coffee at 8 
🚨 IMF suggest stablecoins and CBDCs 🟢Vitalik Buterin’s Ethereum’s scaling roadmap ⚡Base sets DEX record ❗Sam Bankman-Fried update

🚨 The International Monetary Fund suggests that digital money like stablecoins and CBDCs could benefit Pacific Island countries (PICs) by improving financial inclusion and payment systems. They advocate for a two-tier CBDC model for PICs with existing currencies and mature banking systems, and foreign currency-based stablecoins for others, with robust regulation. While acknowledging the potential of private stablecoins like Tether (USDT), the IMF emphasizes the exploration of CBDCs by countries like Fiji, Palau, Solomon Islands, and Vanuatu. IMF Managing Director Kristalina Georgieva believes CBDCs can coexist with private money as a safe and low-cost alternative to cash. Info here https://lnkd.in/dT9NvG5N 

🟢 Vitalik Buterin in a blog post on Thursday, March 28 titled Ethereum has blobs. Where do we go from here? outlines the next steps in the network’s scaling journey. More info here https://lnkd.in/dP4xQrwc . Following the Dencun upgrade on Ethereum’s Layer 2 chains, Vitalik Buterin, Ethereum’s co-founder, addresses the emergence of “blobscriptions,” which are inscriptions on blobs affecting scalability and increasing fees. Buterin emphasizes the transition towards focusing on Layer 2 scaling solutions after the foundational work laid by the upgrade. He mentions data availability sampling (DAS) as a key improvement to alleviate node workload and enhance blob space efficiency. Buterin also suggests exploring data compression and Plasma techniques for Layer 2 enhancements. Despite challenges, Layer 2 fees remain lower than Ethereum mainnet fees, and the roadmap for Ethereum’s scaling continues with the focus on Layer 2 improvements.

🚨 Coinbase’s Ethereum layer-2 network, Base, has broken its 24-hour trading volume record on decentralized exchanges (DEX), soaring by approximately 25% compared to the previous day and exceeding $1 billion in trading volume. On March 30, Base saw a trading volume of $1.21 billion on DEX platforms, marking a significant increase from the previous day’s $959.63 million, as reported by Dune data. The majority of trading activity took place on Uniswap, which contributed 64.3% of the total volume, followed by Aerodrome Finance with 9.7%, and SharkSwap with 7.8%. Info via Dune-Data https://lnkd.in/dDif3GaY

🚔 Former FTX CEO Sam Bankman-Fried was sentenced to 25 years in prison by Judge Lewis Kaplan of the United States District Court for the Southern District of New York. Bankman-Fried convicted on seven felony charges including witness tampering and perjury related to FTX user funds. He’s the first person tied to FTX and Alameda Research to face prison time.

🟠 Two UAE news (See slides)
⚡ Climate Cron cryptocurrency revolutionising Dubai real estate transactions
⚡ PwC and Microsoft launch AI Centre of Excellence in Riyadh
hashtag#blockchaindxb

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