Crypto Trends Weekly May 28 – June 3

Breaking crypto news from the last week (May 28 – June 3, 2022):

May 28: MBC Group has signed a strategic partnership with the region’s largest crypto-asset exchange BitOasis to drive customer awareness and adoption using MBC Group’s TV channels and digital platforms.

May 29: Actively pushing reforms and policies in the field of digital technologies, the UAE has conducted Metacon on May 27-28, the two-day event held at The Arena, Dubai World Trade Centre. The event aimed to help the building of a fast-growing Web3 community in the UAE, exhibiting the abundant opportunities of the metaverse.

May 30: Tron becomes DeFi’s third-largest blockchain in terms of total value locked (TVL). Tron’s DeFi activity saw a sharp spike after the launch of its algorithmic stablecoin USDD, promising more than 20% per year returns.

May 31: Majid Al Futtaim (MAF), a UAE-based shopping conglomerate, has partnered with crypto exchange and blockchain infrastructure provider Binance, which 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.

June 1: 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.

June 2: 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.

June 3: 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.