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Tag: UAE

Interview: XTB’s Achraf Drid Discusses FX Growth and MENA Region

In an exclusive interview with Finance Magnates, Achraf Drid, Managing Director of XTB MENA, recently discussed the global growth in trading volumes across the FX and CFD market.

Tether Freezes Over $150M+ Worth Of USDT Stablecoin

Tether has been one of the biggest question marks in crypto in recent years, and that hasn’t changed as adoption has grown. Decentralization has been a hot topic, and while the word itself isn’t mentioned once throughout Satoshi Nakamoto’s Bitcoin whitepaper, it is a core identity that has been latched on to bitcoin, and crypto in general, since near inception. Of course, decentralization is the core component of just one of many question marks around Tether. However, this week the spotlight is on just that, as Tether announced that roughly $160M worth of stablecoin USDT would be frozen. Let’s look at what we know. Tether Faces Scrutiny Around Decentralization Three Ethereum-based USDT addresses, holding north of $150M, were frozen this week, according to Tether officials, as the blockchain cited the move due to “a request from law enforcement.” The blockchain has now blacklisted over 560 addresses since November 2017. It was the first blacklisting maneuver from Tether in 2022. Tether representatives have previously stated that “through the freezing of addresses, Tether has been able to help recover funds stolen by hackers or are compromised,” leading to heated debates in the crypto community – one that has largely embraced decentralization – over what degree of power blockchain authorities should be able to weild over the network. Long-time crypto loyalists are, generally speaking, not ecstatic about Tether’s level of control of the market – even if the end result is to replace funds that were lost due to the actions of malicious bad actors. Furthermore, recent U.S. government scrutiny over the likes of stablecoins – notably USDT and USDC – have arguably led to substantial growth of more decentralized alternatives, namely UST and DAI – the third and fourth largest stablecoins in the market. Related Reading | Jack Dorsey’s Block Looking To Democratize Bitcoin Mining With Open Source Mining System As broader cryptocurrency markets have grown, so too have stablecoins such as USDT; however increased scrutiny from crypto loyalists have left many wondering about the extent of power that the network should carry. | Source: CRYPTOCAP: USDT on TradingView.com Where We Go From Here Admittedly, Tether is undoubtedly in between a bit of a rock and a hard place. The leading stablecoin is rapidly approaching a $100B market cap, and is salivating at the thought of solidifying it’s stature as the ‘go-to’ stablecoin in a world of rapid crypto growth. Additionally, according to a Chainalysis report, illicit activity and cryptocurrency-based crime nearly doubled in 2021 compared to 2020, and government officials are likely ramping up communications with the blockchain. As we kick off the new year, expect more of the same when it comes to Tether, and perhaps even Circle’s USDC – as the two look to ingrain crypto in more mainstream outlets, a degree of centralization to come with that is inevitable. Related Reading | UAE Authorities Announce New Stringent Measures Against Crypto Scammers Featured image from Pexels, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.

“Pay us in crypto,” one in four small businesses say

A recent survey by Visa Inc has revealed the willingness of small businesses across nine countries to accept digital assets like Bitcoin, Ethereum, and others as a means of payment for their goods and services.

The post “Pay us in crypto,” one in four small businesses say appeared first on CryptoSlate.

Hitman Trilogy Is Coming Next Week, and It’s On Xbox Game Pass

IO Interactive has announced that a Hitman Trilogy collection will be launching next week, and it's coming straight to Xbox Game Pass.

First Abu Dhabi Bank appoints Suhail Bin Tarraf as group COO

Suhail Bin Tarraf joins from Emirates Islamic Bank, where he was COO for five years.

The Kratom Consumer Protection Act, and Where is Kratom Still Banned?

Kratom is a tree in the coffee family, native to Southeast Asia with closely related species found in Africa. In those regions, medicinal and recreational use of kratom dates back centuries. As natural wellness has become a hot topic of discussion over the last decade, kratom is gaining popularity in the United States as well. It’s […]

The post The Kratom Consumer Protection Act, and Where is Kratom Still Banned? appeared first on CBD Testers.

Swiss digital assets bank SEBA raises $120m in Series C funding round

The round was co-led by a consortium of specialised blockchain and fintech investors.

Visa survey shows that 24% of SMBs plan to accept crypto payments

Crypto holders want to use their assets to shop and stores around the globe are starting to take heed.

SEBA Generates $119M in Series C Funding for Global Expansion



Continue reading at Coinspeaker

Africa Dreaming: Qatar Airways Doubles Nigeria Network

Qatar Airways has announced Kano and Port Harcourt, doubling its network to Nigeria. Starting in less than two…

Binance is embracing regulation as it eyes UAE for its next global hub

The world’s largest cryptocurrency exchange has had a turbulent year when it comes to regulation.

The post Binance is embracing regulation as it eyes UAE for its next global hub appeared first on CryptoSlate.

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