Announcements

Cryptocurrency platform OKX has received a provisional virtual-asset license from the Dubai authority. The exchange plans to set up a regional hub in the city, Bloomberg said on Thursday. Crypto exchange OKX said on July 14 that it had been given a provisional virtual assets license by the Dubai Virtual Assets Regulatory Authority (VARA), which…

Celsius Network, a crypto lending services provider, announced on July 13 that it has filed for Chapter 11 bankruptcy. The bankruptcy filing says the platform made “certain poor asset deployment decisions” when the platform grew faster than it anticipated. It also confirms its liabilities outweigh its assets by $1.2 billion. After a series of descending…

Aarma Coin, a crypto project recently launched in Dubai, has announced the launch of its own NFT marketplace, an E-commerce platform with a utility portal. In July 2022, the team plans to launch its Aarma Wallet, with an extensive roadmap ahead. Aarma Coin, a promising cryptocurrency project, was registered in Dubai, UAE, in 2022. With…

Alawad Fund selected MetaBitcoin (MBTC), which implements all Bitcoin ecosystems identically within the metaverse ecosystem, as its first investment destination. Jointly with prominent partners, Alawad Fund plans to invest in promising blockchain projects, virtual-asset startups, cryptocurrency exchanges, and bitcoin mining. On March 26, Alawad Fund was launched in Dubai, the city attracting global attention as…

Animoca Brands, a Hong Kong-based gaming software and venture capital company, has completed a $75.32 million raise at a pre-money valuation of $5.9 billion, the company said Tuesday. The raise is the second part of a funding round, bringing in $358.88 million. In January, the company hit a valuation of more than $5 billion after…

Multicoin Capital, the crypto investment firm known for its backing of multiple Web3 and DeFi projects, announced its latest fund, Venture Fund III, with commitments of up to $430 million. The fund will be used for investments in projects based on a “proof of physical work” model, permissionless data aggregation, and offering creator monetization. Multicoin…