MidChains, Al Sila Tower, Abu Dhabi Global Market, Abu Dhabi (2026)

16/06/2024

Eid Adha Mubarak to you and your loved ones! Wishing you a blessed Adha filled with happiness and peace.

عيد أضحى مبارك لكم ولأحبائكم! نتمنى لكم عيدًا مباركًا ملؤه السعادة والسلام.

14/03/2024

Don’t miss out on a valuable opportunity! Our CEO, Basil Al Askari, will be attending DAS London next week! Reach out to Basil Al Askari directly to schedule a meeting and explore potential opportunities for collaboration and partnerships. Let’s connect and take advantage of this exciting event to drive growth and innovation together!

11/03/2024

May this month of fasting, prayer, and reflection bring you closer to your faith and to those around you. Let us embrace the values of compassion, kindness, and charity that Ramadan teaches us, and strive to make a positive difference in the world. Wishing you a blessed and peaceful Ramadan from all of us at MidChains.

نهنئكم بحلول شهر الخير و البركة.
دعونا نحتضن قيم الرحمة واللطف والإحسان التي يعلمنا إياها رمضان ، ونسعى لإحداث تغيير إيجابي في العالم.
نتمنى لكم رمضان مبارك منا جميعًا في ميدتشينز.

02/12/2023

MidChains congratulates the leadership and people of the UAE on the occasion of the 52nd Union Day, wishing continuous prosperity, success and safety to our country and its people. We are proud to be born from the UAE

15/07/2023

Welcome to this week's news roundup. Here are the top stories making waves in the world of cryptocurrencies and blockchain:

In a landmark victory for Ripple Labs Inc, a U.S. judge ruled that the company did not violate federal securities law by selling its XRP token on public exchanges. The decision is the first win for a cryptocurrency company in a case brought by the U.S. Securities and Exchange Commission (SEC).

Former Celsius CEO, Alex Mashinsky, has been arrested following an investigation into the collapse of the crypto lender. The arrest coincided with the SEC's lawsuit against Celsius. Mashinsky faces charges of fraud and market manipulation. Celsius Network filed for bankruptcy in 2022, and Mashinsky was previously found guilty by the Commodity Futures Trading Commission for breaking U.S. regulations.

Europe's first bitcoin exchange-traded fund (ETF) is set to be listed publicly this month, following a delay due to market conditions. Jacobi Asset Management's ETF, which cannot use leverage or derivatives, aims to reduce counterparty risks. The fund has been authorized in Guernsey, offering advantages for its launch. European digital assets ETPs have seen substantial inflows, with €4.3bn in assets currently held.

Google will allow developers to integrate non-fungible tokens (NFTs) into apps on the Google Play Store, potentially reviving the NFT market. Developers can offer users opportunities to earn and trade NFTs as part of loyalty and rewards programs.

Telegram Wallet, built on The Open Network (TON) blockchain, has expanded its features to include BTC, USDT, and TON payments for in-app transactions. Initially allowing crypto transfers between users in chats, the Wallet now enables merchants to integrate cryptocurrencies into their bots for accepting payments.

That's all for this week's news roundup. Stay tuned for more updates in the world of crypto and finance.

14/07/2023

Sign up to start trading on our regulated platform today.

23/06/2023

There are different types of wallets to store, send and receive your digital assets. Each has its own pros and cons – what kind of wallets do you prefer?

19/06/2023

Welcome to the intriguing developments that unfolded in the crypto industry over the last week.

BlackRock, the world's largest asset manager, has applied with the U.S. Securities and Exchange Commission (SEC) for a spot Bitcoin exchange-traded fund (ETF). If approved, this ETF would allow investors to gain exposure to Bitcoin without directly owning it. Coinbase, a leading cryptocurrency exchange, has been named as the proposed custodian for the ETF.

In other developments, the Tether (USDT) stablecoin experienced a slight deviation from its USD peg on June 15 due to an imbalance in Curve's 3pool, a stablecoin pool for decentralised finance. The price of USDT fell by 0.3% to around 0.997. This imbalance was caused by a whale address that borrowed 31.5 million USDT and swapped it for USDC, leading to a deviation in USDT's peg value. However, Tether's Chief Technology Officer Paolo Ardoino reassured the community that the depegging was not a cause for concern. This incident follows a previous depegging of USDC in March, which caused panic among investors.

FTX co-founder Sam Bankman-Fried will face two separate trials for a total of 13 charges, including fraud, fraud conspiracy, and bribery, relating to his alleged mismanagement of the crypto exchange. The charges have been split, and one trial will take place in March 2024.

Furthermore, the Hong Kong Monetary Authority (HKMA) is encouraging banks to accept crypto exchanges as clients to support the development of Hong Kong as a global crypto hub. The HKMA ensures that due diligence procedures do not overly burden crypto firms.

Lastly, Colombia's central bank, Banco de la República, has partnered with Ripple to pilot the use of blockchain technology for its high-value payments system. The collaboration aims to explore the potential efficiencies and benefits of Ripple's CBDC platform. Colombia has shown interest in adopting a central bank digital currency and implementing measures against tax evasion.

Stay tuned for more exciting updates as the crypto journey unfolds.

12/05/2023

Welcome to this week's news roundup!

Bitcoin's price dipped below $27,000 as crypto market makers stepped back from US trading. According to reports from CNBC, reduced trading activity from market makers has contributed to the recent price decline. Investors are concerned that the new illiquidity in the market could create larger price swings and lead to more frequent gaps up and down, as order books are generally thinner.

Hester Peirce, a senior US Securities and Exchange Commission (SEC) member, has warned that the US risks falling behind the EU and UK in governing crypto asset markets. Peirce praised the regulatory frameworks set by the EU's Markets in Crypto Assets (Mica) regulation and the UK's comprehensive regulatory regime for crypto. She suggested that the US should adopt similar models, expressing concern that the absence of a regulatory regime in the US is detrimental. Peirce's comments contrast SEC Chair Gary Gensler, who has focused on enforcement cases rather than crafting new rules for crypto markets.

Circle, a leading stablecoin issuer, has rebalanced its treasury holdings by favoring short-dated US Treasuries amid concerns of a potential US debt default. The company wants to limit its exposure to any future default and protect the reserves of its USDC stablecoin.

Coinbase, one of the largest cryptocurrency exchanges, is considering the UAE as a potential international hub. Gulf Business reveals that Coinbase is exploring opportunities in the UAE to establish a stronger presence in the Middle East, signaling the region's growing prominence in the crypto industry.

The surge in interest in meme coins, particularly PEPE, has led to increased Ethereum gas fees and the burn rate of ETH. PEPE's popularity has driven up gas fees, reaching a multi-month high. The rise in network demand has resulted in a higher burn rate of Ethereum, with a significant amount of ETH being burned over the past 30 days.

That's all for this week's news roundup. Stay tuned for more updates next week!

08/05/2023

Invest smarter, not harder. Choose a regulated exchange like MidChains for your virtual asset investments to get the best of both worlds - security and peace of mind.

05/05/2023

Welcome to this week's news update on the latest crypto and financial industry developments. Here are the top stories:

3AC founders encounter fresh legal troubles in Dubai over new exchange OPNX: The founders of 3AC, a cryptocurrency investment firm, are facing legal problems in Dubai after launching a new cryptocurrency exchange called OPNX. The exchange was launched without approval from the local authorities and has been accused of violating financial regulations.

In other news, regulators seized First Republic Bank and sold most of its operations to JPMorgan Chase in order to prevent a chaotic collapse that could reignite the banking crisis. JPMorgan will acquire all First Republic's $92 billion in deposits (insured and uninsured) and most of the bank's assets, including approximately $173 billion in loans and $30 billion in securities.

The White House is proposing a 30% tax on cryptocurrency mining companies due to their operations’ negative impact on the environment, human well-being, and electricity grids. The tax is expected to generate up to $3.5 billion in income over the next decade.

The US House Financial Services Committee has scheduled two hearings to discuss digital asset regulations and banking failures. Republicans Warren Davidson and Mike Flood wrote a letter to the Biden Administration asking for clarity on digital assets and distributed ledger technology. The House Financial Services Committee blames the Biden Administration for recent regulatory crackdowns on crypto and lack of clarity.

Lastly, Flare a layer-1 Ethereum Virtual Machine (EVM) blockchain platform, has integrated its blockchain APIs portal on Google Cloud Marketplace, onboarding several blockchain APIs such as Bitcoin, Ethereum, Litecoin, XRP Ledger, and more. The integration will provide blockchain data from Flare nodes to developers and users of software products and services platforms without running their own nodes for the respective blockchains.

That's it for this week's news update. Stay tuned for more updates on the world of crypto and finance!

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