Dubai’s Billion-Dollar Crypto Underworld:

Cryptocurrency entrepreneur Sam Lee was charged by US authorities for running a Ponzi pyramid scheme called HyperVerse, alleging he defrauded people of $2 billion. But instead of facing trial in the US, Lee now lives in Dubai, where he’s pitching new crypto products.

Lee denies any wrongdoing. But crypto industry experts, alleged victims, and online “scam hunters” are raising questions about whether regulators in the United Arab Emirates are doing enough to combat crypto fraud as Dubai seeks to position itself as a hub of finance and technology.

Emirates NBD Bank in Dubai has just launched cryptocurrency trading!

Users can now buy, hold & sell BTC, ETH, SOL, XRP & ADA. 🚀

Source: https://www.bloomberg.com/...

#Dubai #NBDBank #cryptocurrency #trading #BTC #UAE

### Bitcoin and Cryptocurrencies:
- **The Ethereum restaking protocol EigenLayer** has lost $5 billion in total value locked (TVL) within a few weeks (Journal du Coin).
- **Bitcoin exchanges** have seen significant inflows into ETFs, totaling $2 billion over nine consecutive days (Journal du Coin).

### Regulation and Security:
- The **European Securities and Markets Authority (ESMA)** has made progress in developing the digital euro, an initiative that could transform financial transactions in Europe (Une-Blockchain).
- **Hong Kong** plans to implement a licensing system for stablecoin issuers, thereby strengthening regulation in this sector (Journal du Coin).

### Technological Developments:
- **Ubisoft** has chosen Aleph.im to manage the dynamic NFTs for its new Web 3 game, further integrating blockchain into the gaming industry (Journal du Coin).

### Adoption and Usage:
- Various **blockchain adoption initiatives** continue to emerge, such as the acceptance of cryptocurrencies for purchasing real estate and luxury services in Dubai (Krypto Channel).

These developments indicate a growing adoption and significant movements in the blockchain and cryptocurrency space, affecting both asset prices and regulatory and technological infrastructure.

Carl Moon @ Dubai 😭 #carlmoon

Bitfinder.io Dany Salha @ #BlockchainLife2023 Dubai #dannysalha #bitfinder