Gulf Crypto Insight: Hot crypto news from the MENA region – August 10

    Blockchain Economy Summit: Dubai to host the world’s largest blockchain and crypto event in October The world’s largest blockchain and crypto conference network, Blockchain Economy Summit, has just closed the previous chapter in Istanbul,  Türkiye, with more than 3,000 participants from 82 countries all over the world. The next edition of the world’s flagship blockchain…

    Top 5 main mistakes to avoid during a crypto bear market

    Here are five of the most common mistakes people make during a bear market, writes George Georgiev on CryptoPotato. Have you made any of them? Cryptocurrency bear markets can be brutal for new investors without sufficient experience. The swings are typically a lot more violent compared to traditional stock markets, and it’s not unheard of…

    UAE tightens control over crypto real estate money laundering

    On August 8, the UAE introduced new reporting requirements for real estate transactions involving digital assets. The new rules require all real estate agents, brokers, and law firms to report all property transactions with crypto assets. According to the UAE government, the new rules are aimed at clamping down on money laundering and terrorist financing….

    US Treasury blacklists Tornado Cash, sparking criticism from the crypto industry

    The US Treasury sanctions against the crypto mixer Tornado Cash meet criticism from the crypto community. While GitHub, stablecoin issuers and crypto infrastructure providers join the Treasury action, some anonymous troll is sending crypto from a Tornado Cash wallet, trying to “dust” numerous celebrities. On August 8, the US Department of the Treasury announced sanctions…

    Iran makes its first import worth $10 million in crypto with ‘widespread’ plans

    As Tasnim agency reported Tuesday, citing Alireza Peymanpak, an Iranian official from the Ministry of Industry, Mine, and Trade, the country this week executed its first official order for importing goods via the crypto payment route, worth $10 million cumulatively. “This week, the first official import order registration worth 10 million dollars was successfully completed…

    Reddit integrates FTX Pay to enable ETH gas fees for the community points system

    Reddit enlisted FTX and Arbitrum to launch its tokens on Ethereum. Users now can move Reddit’s Community Points to Arbitrum-built Ethereum wallets and pay gas fees with FTX Pay. Last month, top forum contributors earned up to $340 in Community Points tokens for posting in the r/cryptocurrency subreddit. Despite the bear market, FTX is continuing…

    Tiffany sells out all 250 ‘NFTiffs’ with real-life necklaces in 20 minutes

    Luxury brand Tiffany & Co. has jumped into the NFT world with a collection of limited edition Ethereum-based tokens and corresponding CryptoPunks-themed jewelry. Priced at 30 ETH, or about $50,000, the 250 pieces sold out in around 20 minutes, bringing in more than $12.5 million. On August 5, the world-famous luxury jeweler launched its first…

    Morgan Stanley signaling broad crypto plans with a new job posting

    According to a new LinkedIn job posting, financial giant Morgan Stanley is looking for a product development manager with a primary focus on building a wide range of new crypto products. The new executive will lead the team responsible for more than $900 billion in assets under management. The Block reported that the new position…

    Despite bear market, crypto fundraising hits $30 billion in H1 2022, topping all of 2021

    Messari’s latest report indicates that the market pullback in the year’s first half did not shake investors’ confidence in the growing crypto industry. As per the report, the overall amount of money raised in the first six months already exceeds the $30.2 billion that was raised in 1313 rounds throughout the entire year of 2021….

    Where Bitcoin creates more potential jobs

    There are numerous new types of jobs since the internet first gained popularity. Bitcoin will experience a similar growth trajectory as more jobs are created. We haven’t even begun to scratch the surface of potential Bitcoin jobs — Peter Conley, a contributor for Bitcoin Magazine, writes in his opinion editorial. How big can Bitcoin jobs,…