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Month: July 2022

Dubai permits full operation to FTX subsidiary FZE via first MVP license

According to Dubai officials, the subsidiary’s operations will serve as a regulatory trial for future commercial services using virtual assets. On Friday, FZE, a subsidiary of crypto exchange FTX, was awarded Dubai’s first Minimal Viable Product (MVP) license, allowing full operation of the exchange in the region. Dubai’s Virtual Asset Regulatory Authority (VARA) issued the …

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Elon Musk countersues Twitter over merger, but details aren’t yet public

KEY POINTS Elon Musk countersued Twitter on Friday, intensifying the conflict between the social networking company and centi-billionaire but keeping details hidden from the public. Musk agreed to buy Twitter for about $44 billion, but then sought to terminate the deal. Twitter sued Musk for reneging on the merger agreement. The central arguments of Musk’s …

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GameFi Industry Expected to Reach $2.8B by 2028

The growth and adoption of the crypto GameFi business are expected to make the game-earning non-fungible token (NFT) gaming industry reach $2.8 billion by 2028, according to Absolute Reports, a company that provides market research services. The report shows that while the cryptocurrency market is going through a “crypto winter,” WAX and Binance Smart Chain have stable community …

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Apecoin DAO Approves Funding a Bored Ape-Centric News Publication

Apecoin DAO community members have approved a governance proposal that will fund a Bored Ape Yacht Club (BAYC)-centric news publication called the Bored Ape Gazette with $150,000 for the first year. While the Bored Ape Gazette has been in operation since June 1, 2021, the site’s operator promises to “keep the community better informed” with …

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Santander Brazil to Launch Crypto Trading Feature in Coming Months, CEO Says

The financial institution will join fintech companies entering the crypto segment, such as Nubank, Mercado Libre and PicPay. Spanish banking multinational Santander plans to offer crypto trading to its clients in Brazil in the coming months, Santander Brazil CEO Mario Leao said on Thursday. The bank plans to launch crypto-related services and could provide further …

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Binance jumps into NFT ticketing after UEFA League fiasco

Binance collaborated with Società Sportiva Lazio to launch NFT tickets for all of the sports club’s home matches at Stadio Olimpico. Following the chaos caused by counterfeit tickets in the UEFA Champions League 2022, crypto exchange Binance has launched the pilot of its nonfungible token (NFT) ticketing solution with football club Società Sportiva Lazio for the 2022 …

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FOUNDRY LAUNCHES LOGISTICS ARM FOR BITCOIN MINING EQUIPMENT

The firm will provide domestic and international logistic solutions for the acquisition and delivery of bitcoin mining infrastructure with a streamlined process. Foundry has released a new logistics arm to serve as a one-stop shop for all things related to bitcoin mining infrastructure. Foundry Logistics enables transparent and efficient monitoring of shipments allowing customers to …

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Standard Chartered reports profit up 19% in first half, announces $500 million share buyback

KEY POINTS Standard Chartered on Friday reported first-half pre-tax profit rose 19%, above market expectations, as the emerging markets-focused lender benefited from rising interest rates. Statutory pretax profit for the lender, which earns most of its revenue in Asia, increased to $2.8 billion in the first half of the year from $2.35 billion in the same …

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Meta’s Metaverse Is Still Not Profitable: Reality Labs Unit Registers $2.8 Billion Losses During Q2

Meta, the social media company, has reported that its metaverse division, the Reality Labs Unit, is shedding lots of money. In its recent earnings call, the company informed that, while the Reality Labs unit managed to pull more than $400 million in sales, its losses reached $2.8 billion, mainly due to research and development costs …

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