It’s estimated that roughly 1,800 crypto companies operate in the United Arab Emirates, employing more than 8,600 people in various roles. Crypto exchange Bybit has reaffirmed its commitment to the Middle East amid escalating global conflict, announcing the appointment of a new country manager to increase its presence in the Middle East and North Africa (MENA) region. Tensions in the Middle East escalated last month after the US and Israel launched strikes on Iran. In response, Iran retaliated against several neighboring countries, including the United Arab Emirates (UAE), the United Arab Emirates (UAE), where Bybit maintains a major regional presence. Helen Liu, co-CEO of Bybit, said the company has no plans to scale back its Middle East operations in light of the conflict. Read more
Nasdaq and Kraken will enable tokenized equities to move between regulated and onchain markets while preserving issuer rights and regulatory compliance. Nasdaq, the world’s second-largest stock exchange by market capitalization, is expanding its push into tokenized equities through a partnership with crypto exchange Kraken and its infrastructure affiliate Backed. The exchange said Monday it plans to support equity tokenization in a way that preserves issuer control, as it looks to connect traditional market infrastructure with blockchain-based networks. Nasdaq has partnered with Payward, Kraken’s parent company, and its subsidiary Backed, the issuer behind xStocks, to develop an equities transformation gateway. Read more
Bitcoin held strong above $67,000 amid oil surge to $119 per barrel on Middle East conflict and inflation fears, with analysts seeing signs of a potential BTC price reversal. Bitcoin (BTC) traded above $67,000 on Monday after posting its first bullish weekly close in seven weeks. Meanwhile, oil prices surged as the Middle East conflict prompted fears of a major supply shortage. Key takeaways: Bitcoin holds firm above $67,000 as oil prices surge to the highest level since 2022. Read more
Coinbase launched regulated crypto and equity index futures for Advanced users in 26 European countries as ESMA sharpens scrutiny of perpetual-style products. Cryptocurrency exchange Coinbase has launched new futures offerings in Europe, expanding its push to give users access to both crypto and traditional market exposure through regulated products. Coinbase said Monday the contracts are being rolled out to Coinbase Advanced users in 26 European countries, including Germany, France and the Netherlands, through its Markets in Financial Instruments Directive, or MiFID, entity. The new lineup includes crypto futures tied to assets such as Bitcoin (BTC) and Solana (SOL), along with an equity-index product called the Mag7 + Crypto Equity Index Futures. Coinbase said that contract combines exposure to the so-called Magnificent Seven stocks of Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla, with crypto-linked equities and BlackRock iShares exchange-traded funds tied to BTC and Ether (ETH). Read more
Bitcoin ETPs turned green year-to-date with $521 million inflows last week, as total crypto assets rebounded despite geopolitical tensions linked to Iran. Crypto investment products held firm last week, clocking decent inflows despite ongoing market turmoil caused by fears of an energy crisis fueled by the US-Israel war with Iran. Crypto exchange-traded products (ETPs) recorded $619 million in inflows last week, led by $521 million into Bitcoin (BTC) investment products, CoinShares reported Monday. The gains followed the previous week’s $1 billion in inflows, marking two consecutive weeks of gains after a major sell-off that saw roughly $4 billion in outflows in a five-week streak. Read more