Oman’s sovereign wealth fund has acquired a $350 million stake in Crusoe Energy Systems – a US company that helps fossil fuel producers reduce gas flaring by using stranded flared gas to power crypto mining. According to Crusoe’s CEO, the first pilot project could be launched by the end of this year. According to Bloomberg,…

Yoshi Markets Limited, the UAE-based multilateral trading facility (MTF) and custodian for virtual assets, has started onboarding clients on its platform. The Yoshi Markets platform will allow traders to open an account with the ADGM-regulated Virtual Assets MTF. As Arabian Business reported, the platform will allow customers to open a trading account directly with the…

Rain Financial Inc., a Bahrain-based crypto exchange, has said they will lay off over a dozen employees as crypto markets remain red. The move follows news of workforce reductions at a number of exchanges in the US and worldwide. Coinbase-backed Rain Financial, a major crypto exchange based in Bahrain, has laid off dozens of employees,…

Majid Al Futtaim (MAF), a UAE-based shopping conglomerate, has partnered with crypto exchange and blockchain infrastructure provider Binance, that will provide MAF to harness Web3 technologies to future-proof its business. The deal will allow customers to purchase with crypto at MAF’s businesses. Even with the latest decline in the crypto market, blockchain technology is rapidly…

From crypto industry giants to celebrity endorsements, “mainstream crypto” is more relevant than ever as outsiders join the decentralized movement. Does it help or hurt mainstream crypto when celebrities from outside the space endorse it? – examines Savannah Fortis of Be[In]Crypto. Crypto and the utility of blockchain-based solutions are no longer a fringe for those…

The ongoing cryptocurrency crisis, which coincided with a large outflow of funds from DeFi protocols, is a good reason to momentarily step back from the endless race for profitability and rationally assess the prospects of the decentralized finance industry. Having done so, we will immediately see what we need to change in DeFi to make…

In collaboration with global investors, Binance Labs, the investment arm of Binance, has unveiled a $500 million fund to invest in crypto and Web3 startups at various phases of development. The move is representing the growing optimistic attitude to crypto investments despite the market decline last few weeks. Binance Labs said in a statement that…

Goldman Sachs, a Wall Street investment bank, is reportedly in talks with crypto exchange FTX as it plans to integrate a few features of its derivatives businesses. The CEOs of the two companies met in the Caribbean to discuss a potential partnership. Also, Goldman Sachs might work with FTX to help the exchange to achieve…

The US Federal Reserve is starting paring back its $9 trillion balance sheet that ballooned in recent years in a move called quantitative tightening (QT). What will happen to the crypto markets when quantitative tightening takes full effect, and the Federal Reserve stops the money printer? Whether QT, starting on June 1, will put an…

UAE telecom firm e& (formerly Etisalat Group) announced launching its first collection of NFTs, becoming the first technology and investment conglomerate in the Middle East to do so. Initially, e& says its NFTs will be available to select investors. The inaugural set of NFTs from e& will be distributed selectively, with the group providing further…