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Bitcoin Mining Company Phoenix Group Reports 50% Net Income Increase and 20% Sales Growth
14.2.2024
After its oversubscribed initial public offering (IPO), Phoenix Group, a Dubai-based company specializing in bitcoin mining and blockchain infrastructure, has announced a significant 50% increase in net income. The firm further revealed a 20% increase in its annual sales compared to the previous...
UAE-Based Phoenix Group Bolsters Mining Capabilities With $187M Bitmain Deal Amidst Global ASIC Race
10.1.2024
Phoenix Group, a bitcoin mining and blockchain infrastructure company, recently disclosed its acquisition of $187 million in application-specific integrated circuit (ASIC) bitcoin mining rigs. The purchase was made from Bitmain, one of the leading ASIC manufacturers in the industry. Phoenix Group...
Crypto Miner Phoenix Group Says UAE Initial Share Sale Was 33-Times Oversubscribed
21.11.2023
Phoenix was looking to sell almost 18% of the company for a target raise of $368 million
Crypto Mining Retailer Phoenix Looks at IPO in UAE: Bloomberg
28.7.2023
The UAE-based firm is developing one of the region’s largest mining facilities
Hong Kong and UAE central banks collab on crypto rules, fintech development
31.5.2023
The two central banks are aiming to align their financial service sectors and said both share “many complementary strengths.”
Easy Way To Obtain Crypto License in Dubai: Gofaizen and Sherle Launches A New Service
31.3.2023
PRESS RELEASE. Tallinn, Estonia – Gofaizen & Sherle, a leading fintech and crypto consultancy firm based in Estonia, has recently launched its first crypto product for the United Arab Emirates (UAE). The product is designed to assist businesses and startup owners in obtaining crypto...
Easy Way To Obtain Crypto License in Dubai: Gofaizen and Sherle Launches A New Service
30.3.2023
PRESS RELEASE. Tallinn, Estonia – Gofaizen & Sherle, a leading fintech and crypto consultancy firm based in Estonia, has recently launched its first crypto product for the United Arab Emirates (UAE). The product is designed to assist businesses and startup owners in obtaining crypto...
FTX Reaches $45M Deal to Sell Interest in Sequoia to Abu Dhabi's Investment Arm
9.3.2023
The agreement requires approval from a Delaware bankruptcy court as failed exchange seeks to raise funds for creditors
Ripple CEO: XRP lawsuit resolved by June, SEC conduct 'embarrassing'
19.1.2023
Ripple CEO Brad Garlinghouse said the firm's XRP lawsuit could come to an end within "single-digit months."
Terra co-founder Do Kwon hiding out in Serbia, says authorities
12.12.2022
South Korean authorities have requested cooperation from the Serbian government in order to bring Kwon back to face charges in South Korea
UAE Now Requires Agents to Report Real Estate Transactions Where Virtual Currency Is Used as Payment
12.8.2022
The United Arab Emirates (UAE) has said it now requires real estate agents, brokers, and law firms to report to the Financial Intelligence Unit real estate transactions in which virtual currency is used as payment. Similarly, real estate purchases or sales where “the funds used in...
Crypto.com gets nod in Dubai and FTX launches in Japan
3.6.2022
Crypto.com will have further requirements before its full license is granted in the “near-term” and FTX said the move would allow it to work “directly with Japanese regulators.”
Ubisoft Moves Rainbow Six Tournament After Fans Protest
23.2.2022
Until today, Ubisoft had been planning on holding a “Six Major”, a major competitive event for Rainbow Six Siege players, in Abu Dhabi, capital of the United Arab Emirates. After a massive fan protest on social media, though, the publisher has now decided to move the tournament to another...
Gift to Pope Francis Sold as NFT Raises $80,000 for Afghanistan
16.1.2022
A carpet presented by the United Arab Emirates as a gift to the head of the Catholic Church a few years ago has been sold in the form of NFT. While the original remains in the Vatican, its digital representation has been successfully used to collect funds for the people of Afghanistan. NFT...
ZelaaPayAE: UAE Will Now Have a Crypto Debit Card
25.1.2021
PRESS RELEASE. ZelaaPayAE, with a vision to build and improve the financial structure, introduces a Crypto Debit Card with the ability to be swiped not just in UAE but also globally. Partnering with Baanx, ZelaaPayAE is providing Mastercard enabled Debit Card featuring personalized cards with a...
Moody’s Gives Thumbs Up to UAE’s Know Your Customer Blockchain Platform
26.2.2020
Moody’s praises UAE lenders on a proposed blockchain-based Know Your Customer platform
UAE to Get Its First Asset-Based Cryptocurrency from The Golden M Group
9.9.2019
The Golden M Group has announced to launch a Sharia-compliant cryptocurrency in the Middle East called ‘COIN M.’ This cryptocurrency is expected to enter the United Arab Emirates (UAE) market before the end of 2019. It will be the first real asset-based (gold-based) cryptocurrency...