Crypto-news

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…

The Dubai-based real estate developer, DAMAC Properties, has completed cryptocurrency deals worth $50 million since the beginning of 2022, the company’s COO Ali Sajwani revealed. In his interview, Sajwani said by accepting either Bitcoin or Ethereum as payment, DAMAC has shown the extent to which his company will go in order for it to “benefit…

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…