Kalam Crypto #67: U.S. Regulators go to war, as Hong Kong opens doors to crypto
U.S. regulators continue their crackdown on Coinbase & Binance, while HongKong reopens its arms to crypto, DoKwon is arrested, and CoinMENA launches CoinMENA University & $5,000 in giveaways this Ramadan!
It's time for plan B
"Fiat” money's utility as a store of value is rapidly deteriorating, and I'm not only talking about Pesos or Liras.
Kalam Crypto #66: $1M BTC Bet, Banking Crisis & KSA Eyeing BTC As Store of Value
We seem to be on the verge of another banking crisis, former Coinbase CTO bets bitcoin will reach $1 million within 90 days, KSA looking at bitcoin as a store of value, and Fidelity quietly launches their crypto trading desk.
Operation Choke Point 2.0
After several high-profile crypto scams unraveled last year, regulators in the U.S. are clamping down on the industry in what is being referred to as operation Choke Point 2.0.
Kalam Crypto #65: Banks dumping, Bitcoin pumping 🚀
This week, we cover the collapse of three US banks that served the crypto and tech industries, USDC temporarily losing its peg, and what happened to Signature bank?
Bank bailed out (kind of). Are you ready for the next Bull Run?
Three US banks failed over the weekend: Silvergate, Silicon Valley, and Signature, with more to come probably in the coming days.
Kalam Crypto #64: RAK Crypto Free Zone, Etheruem Shanghai Upgrade Delayed
This week, Ras Al Khaimah announced a crypto friendly free zone, firms distance themselves from crypto bank Silvergate, and Ethereum Shanghai upgrade delayed.
NFTs have come to Bitcoin, and they’re called Ordinals
In the fast-moving and developing crypto world, Bitcoin can seem slow and static. To a certain extent, that’s true.
Kalam Crypto #63: Base Drops on Ethereum, NFT Marketplace War & much more
This week, Abu Dhabi launches a one billion dollar Web 3 fund, Coinbase launches an Ethereum Layer 2, and the NFT marketplace war escalates.
Could the East trigger the next bull market run?
“Don’t fight the fed” Investors and traders have been repeating this mantra for decades. Rightfully so, the U.S. Federal Reserve has been the main driver of asset valuations.
Kalam Crypto #62: BTC Ordinals, NFT Wars, and much more
This week, Bitcoin Ordinals reach a new milestone, U.S. Crypto industry pushing back against SEC “regulation by enforcement” tactic, and the NFT marketplace war between Blur and OpenSea.
The Importance of Regulatory Clarity in the Crypto Industry
Regulatory clarity is critical to driving business and innovation, especially when dealing with emerging technologies like crypto. Like all tools, regulation can be used to support or hinder.
Kalam Crypto #61: Crypto regulation, the good, the bad & the ugly!
This week is all about regulations, the good, the bad, and the ugly. VARA launches comprehensive crypto regulations (good), the SEC clamps down on staking in the United States (bad), and SEC orders Paxos to stop minting BUSD (ugly).
Great news for the crypto ecosystem!
Dubai’s Virtual Asset Regulatory Authority (VARA) has just released the Virtual Assets and Related Activities Regulations 2023.
Kalam Crypto #60: CoinMENA @ LEAP, NFTs on Bitcoin & more
This week, CoinMENA is at the LEAP conference in Riyadh and we list 21 new digital assets, NFTs on Bitcoin and what is Nostr?
Is the bear market finally over?
Although price action gets the most attention, when dealing with emerging technology such as crypto, short-term price swings are not the key metrics we in the industry focus on.
Kalam Crypto #59: Tesla Diamond Hands & 21 NEW digital assets
This week, Tesla’s diamond hands through Q4 2022, liquid ETH staking withdrawals on Lido, and CoinMENA lists 21 new digital assets including SOL and ALGO.
Kalam Crypto #58: UAE: Crypto to play a major role in trade 1,000 USDT Giveaway
This week, UAE announces crypto will play a major role in foreign trade, Circle announces CCTP, Société Générale takes out a loan from MakerDAO, and Ethereum layer 2 activity rising.
🦊ETH Staking on MetaMask
Metamask enabling ETH staking could potentially lead to mainstream DeFi adoption similar to how Robinhood popularized stock trading. This will become even more convenient when Metamask adds reliable FIAT rails.
Kalam Crypto #57: ETH staking on MetaMask, FTX drama, Swap USDT, and much more
This week, Metamask to enable ETH staking, new USDT swap feature, the Winklevoss Twins’ beef with DCG’s Barry Silbert escalates, and of course, more FTX drama.
Kalam Crypto #56: SBF pleads not guilty, Ethereum Shanghai Upgrade & more
This week, cautious optimism as markets are slightly in the green, but we won’t talk about it. In other news, SBF enters a not guilty plea, Ethereum Shanghai upgrade date, and beef of the week between Gemini’s Winklevoss twins and DCG’s Barry Silbert.
Kalam Crypto #55: 2022 Wrap-Up, Solana crashes, and Turkey tests CBDCs
This week, we have a 2022 wrap-up video from CoinMENA, Solana is down badly, and Turkey tests CBDCs.
Crypto applications: Financial services
2022 was probably the most difficult year for crypto. A series of high-profile collapses such as UST/Luna, and Alameda/FTX, combined with a global economic recession has shaken investor confidence in our industry.
2022 Year End Founders Letter
As the founders of CoinMENA, we are pleased to report that despite the challenges faced by the cryptocurrency industry in 2022, CoinMENA has had its best year yet.
Investing in GBTC (Grayscale Bitcoin Trust) is not the same as investing in BTC
GBTC is currently trading at a ~50% discount to NAV.
Kalam Crypto #54: SBF released on $250m bail & Polygon ends the year on a high
This week, SBF is extradited to the US and released on $250m bail, SBF associates turn on him and are cooperating with the authorities, and Polygon continues its impressive 2022.
Kalam Crypto #53: MetaMask x Paypal, Trump NFTs, and SBF charged with fraud
This week, MetaMask partners with PayPal, SBF was charged with criminal and civil fraud, and Trump issues his NFT collection.
Crypto Use-Cases: Remittances
One of the first and most obvious use cases that crypto can disrupt is remittances.
CoinMENA MAG Partnership
The developer aims to create new avenues for investors to diversify their investment portfolio via digital assets and further boost Dubai’s thriving economy
Kalam Crypto #52: SBF Arrested, USDT vs. USDC & Global BTC Payments on Lightning
This week, SBF gets arrested, global payments via the Bitcoin Lightning Network, USDT vs. USDC Rivalry, and fears over GBTC’s BTC holdings.
Kalam Crypto #51: Latest on FTX, BTC correlation with tech stock drops & more
This week, we update you on the latest happenings in the FTX saga, as well as go behind the headlines to reveal some interesting crypto adoption trends, and Ethereum reversing post-merge censorship trend.
Kalam Crypto #50: FTX license revoked, BitGo takes custody of FTX assets & more
This week, VARA revokes FTX license in UAE, BitGo takes custody of FTX assets, and Circle adds support for Apple Pay.
Not All Custody Is Created Equal: Why CoinMENA Chose BitGo
Since launching CoinMENA, we are proud to have BitGo as our custodian.
Kalam Crypto #49: FTX Fallout continues, World Cup #CoinMENA_Goal campaign!
This week, we continue our coverage of the FTX fallout, but we also highlight some positive developments that have gone under the radar, as well as announce new campaigns like discounted card fees and our World Cup campaign, #CoinMENA_Goal!
FTX Fraud Highlights Need for Regulation
Crypto is an industry in its infancy, and still not adequately regulated in most countries.
Crypto didn't fail. A centralized entity that requires trust failed!
No sugar coating here, FTX/Alameda blew ~10 Billion USD (to be confirmed) and this will impact investor confidence in crypto and the industry for some time.
Kalam Crypto #48: FTX Collapse: What, Why, and What next?
This week we cover the FTX collapse: What happened? Why did it happen? Could this happen to CoinMENA? And where do we go from here?
Kalam Crypto #47: FTX vs Binance, Polygon Meta Partnership, & Ethereum L2 Rising
This week, heavyweight clash between Binance and FTX as Binance announces they will liquidate all of their FTT Tokens, Polygon partners with Meta and executes its first DeFi trade for JP Morgan.
CoinMENA Partners with Carlton Real Estate
Under the partnership, the leading Bahrain-based real estate broker will accept stablecoins like USDT and USDC.
Kalam Crypto #46: Bitcoin Whitepaper Anniversary, Musk buys Twitter, & much more
This week, the Bitcoin whitepaper anniversary, Elon Musk acquires Twitter, and more institutions planning on buying crypto.
MENA, the fastest-growing crypto region in the world
It’s one of the world’s smallest crypto markets, but new data places the MENA region as the fastest growing crypto region in the world. Surprised? You shouldn’t be.
KC #45: BTC less volatile than stocks, Circle & Block to onboard 1 billion users
This week, bitcoin is less volatile than the S&P500, hashrate reaches an all-time high, and Block teamed up with Circle to onboard 1 billion users to crypto!
Kalam Crypto #44: Google to accept crypto payments, ETH goes deflationary & more
This week, Google to accept cryptocurrency payments, Ethereum supply turns deflationary, and zero trading fees for life from CoinMENA.
Kalam Crypto #43: Fastest growing crypto region worldwide, Binance chain hacked
This week, MENA is the fastest-growing crypto region in the world, Binance chain gets hacked, and NYDIG launched an institutional bitcoin fund.
Kalam Crypto 42: BoE pivots, UAE Metaverse Assembly, SWIFT Chainlink Partnership
This week, the UAE Ministry of Economy announced the launch of its headquarters in the metaverse, Bank of England becomes the first central bank to pivot away from quantitative tightening and extension of CoinMENA’s bitcoin giveaway.
Custody Solutions: Institutional Game Changer
There’s a running joke in crypto that goes, “just wait till the institutional money comes in, that's when crypto will really take off”.
Kalam Crypto #41: SEED bitcoin partnership & rising institutional adoption
This week, despite fears of a global recession and the Fed increasing interest rates again, institutional adoption is on the rise, and bitcoin hodlers remain unwavering.
Kalam Crypto #40: Bahrain testing BTC payments, Ethereum Merged, & BTC giveaway
This week, Ethereum merged successfully, the Central Bank of Bahrain (CBB) is testing bitcoin payments, experts correct Whitehouse crypto climate change report, and a bitcoin giveaway from CoinMENA.
Behind the scenes, crypto regulators are hard at work
During bear markets, the crypto industry gets a disproportionate amount of press given its relative size in the financial markets.
Kalam Crypto #39: Two days from the Merge, Saudi Arabia hires crypto chief
This week, the Ethereum Merge is just two days away, Saudi Arabia hires a crypto chief & special offers from CoinMENA.
Kalam Crypto #38: Merge-tember, Ethereum Merge starts today!
This week, Merge-tember! Phase 1 of the Ethereum Merge starts today, we have all you need to know about one of the most anticipated events in the history of crypto.
Is the worst behind us?
Bitcoin price dipped below $18k in June, lower than the previous cycle’s top, and has since settled in the low $20-23 thousand range. Does this mean the worst is behind us? Or is this just a bear market rally?
BlackRock has entered the chat
We were in the middle of an all-time bull market, and there was a sense that this would trigger a cascade of institutional money getting into bitcoin, but it didn't, until now. Enter BlackRock.
Ethereum’s long-awaited upgrade to Ethereum 2.0 is finally here. The third and final Goerli testnet successfully migrated to the proof-of-stake (PoS) chain at the beginning of August 2022. The mainnet upgrade is scheduled to take place on 15/16 September.
Calm Down and DCA
There is a lot of fear in the market now. This is a reality check that markets do not always go up, and that's okay. They are not supposed to. So what's really causing all this, and what to do now.
Kalam Crypto #23: UST/LUNA collapse, Emirates to accept BTC payments ...
Ahlan wa sahlan, and welcome to the 23rd edition of CoinMENA’s weekly newsletter, Kalam Crypto. Every week we will bring you the latest news and developments from the exciting world of cryptocurrencies.
Kalam Crypto #37: New Ethereum Merge details & ETH giveaway+25% off trading fees
This week, markets slide after the U.S Fed Chair speech, new details on the Ethereum Merge upgrade, and trading discounts from CoinMENA.
Kalam Crypto #36: Google invests $1.5b in crypto, Stablecoins back ETH Merge
This week, Google invests heavily in crypto, stablecoins back ETH PoS merge, and ETH giveaway from CoinMENA.
Kalam Crypto 35: Ethereum Merge date announced, BlackRock launch bitcoin product
This week, a successful final Ethereum dress rehearsal, BlackRock launch spot bitcoin product, and Tornado Cash banned.
Kalam Crypto #34: BlackRock enters crypto, Solana wallet hack, and more.
This week, Blackrock, the world’s largest asset manager partners with Coinbase to offer institutional clients exposure to digital assets, Michael Saylor to focus more on bitcoin, and the launch of the Dubai Digital Assets Business Group (D2A2).
CeFi Is Not DeFi!
It's been an eventful month in crypto, 3AC, Voyager, and Celsius all filed for Chapter 11 bankruptcy protection. Lost in all the noise and chaos of the past month is the fact that decentralized finance (DeFi) actually worked perfectly!
Solana Wallet Hack
The root cause identified is a wallet software compromise rather than a vulnerability in the Solana blockchain.
Kalam Crypto #33: On the verge of Ethereum Merge, USDC closes gap to USDT & more
This week, on the verge of the Ethereum Merge, USDC closes the gap to USDT, and more ways to earn BTC with CoinMENA.
Kalam Crypto #32: Tesla sells BTC, USDC reserves revealed, and ZkEVM by Polygon
This week, Tesla liquidates 75% of their BTC, Circle reveals details of USDC reserve assets, Polygon announces ZkEVM, and Bitcoin mining becomes more sustainable!
CoinMENA Extends Crypto Services to Egypt
Users in Egypt can now open accounts on the platform and access all its services, including connecting their bank accounts to their CoinMENA wallets, allowing them to deposit and withdraw funds directly and safely.
Kalam Crypto #31: BTC and ETH addresses reach ATH, and Hello Egypt!
This week, we have positive price action on Ethereum, addresses holding BTC and ETH reach all-time highs, and CoinMENA can now onboard residents of Egypt from our base in Bahrain!
Kalam Crypto #30: CoinMENA VISA Partnership, FTX buys BlockFi, and more
This week, FTX acquires BlockFi, 3AC files for bankruptcy, and CoinMENA announces a partnership with VISA. All that and more, so let's dive into this week's letter, and talk crypto.
CoinMENA Joins Visa’s Fintech Fast Track Program
CoinMENA announced that it has joined Visa’s Fintech Fast Track program. It will allow CoinMENA to more easily leverage the reach, capabilities, and security of VisaNet, and launch a host of Visa-exclusive services, including the CoinMENA VISA Card.
Opportunities in a Recession
It's official. We are in crypto winter. Every four years, the market goes through bull and bear cycles. We think it might be different “this time,” but apparently, it’s not. However, this is the first time crypto has experienced an economic recession.
Kalam Crypto #29: Crypto bailouts, Tencent launch metaverse division, and more
This week, liquidity issues lead to crypto bailouts, Tencent launch metaverse division, Solana Labs to launch a web3 phone, and more chances to double your ETH and XRP trades on CoinMENA.
Kalam Crypto #28: Crypto Winter, VARA License, and more
Ahlan wa sahlan and welcome to Crypto winter. If this is your first time here, welcome! Not an ideal place to be, but not the end of crypto as some mainstream media outlets would have you believe.
CoinMENA receives provisional license from Dubai’s VARA
CoinMENA has obtained a provisional virtual assets license from Dubai’s VARA to continue its business operations in Dubai while it undertakes the in-depth process of applying for a license, in accordance with VARA requirements.
What Is Happening in the Markets?
Bear markets are tough, we know because this is our third one. We’re sure many of you are wondering: is it different this time? The short answer is no, but there are some slight differences this time around.
Kalam Crypto #27: Web 5, successful Ethereum “merge” test, and more
This week, Web 5, successful Ethereum merge test, notable findings from bullish crypto surveys, and Bin Zayed Group’s Dubai Metaverse Experience. All that and more, so let's dive into this week's letter, and talk crypto.
Kalam Crypto #26: Bitcoin remains king, Bored Ape’s Discord exploit, and more
This week, Bitcoin remains king, Bored Ape’s Discord exploit, Oman backs Crusoe Energy, and some exciting announcements and offers from CoinMENA. All that and more, so let's dive into this week's letter, and talk crypto.
Despite Downturn, Crypto Adoption on the Rise
With the global value of crypto almost halving since its November 2021 peak, taking us officially into a bear market, one might assume investment would slow. Instead, established players are doubling down on crypto-related investments.
Kalam Crypto #25: Terra 2.0 is born, a16z launches largest crypto fund, and more
This week, Terraform Labs launches Terra 2.0, a16z launches largest crypto fund ever, MetaMask rescuing crypto scam victims, and exciting offers from CoinMENA. All that and more, so let's dive into this week's letter, and talk crypto.
Kalam Crypto #24: Robinhood and Revolut enter Web3, new Ethereum "merge" date...
This week, highlights from Blockwork's Permissionless conference, including the new Ethereum "Merge" date, Fintechs Robinhood & Revolut entering Web3, Ernst & Young going on-chain, and CoinMENA expands services to Qatar residents.
Crypto Crash Highlights Need for Regulation
UST LUNA was the largest collapse in crypto history. The recent events have not changed my opinion on the long-term value proposition of crypto, but it has highlighted the need for more regulation in the sector.
CoinMENA becomes first regional crypto exchange to enter Qatar
CoinMENA has become the first regional digital assets exchange to offer its services in Qatar, meaning that users across the Gulf state can now easily and safely invest in cryptocurrencies for the first time.
CoinMENA adds a range of first-in-region features for cryptocurrency traders
CoinMENA has become the first onshore licensed crypto exchange to introduce limit trading and the first and only licensed crypto platform in the MENA region to allow users to withdraw USDT (Tether) stablecoins via the TRON TRC20 network.
Although still in its infancy, crypto and crypto banking services are expanding rapidly. Crypto’s potential to close the inclusion gap lies in its ability to empower the ‘unbanked’ and ‘underbanked’, which represent some 1.7 billion adults globally.
GBTC vs Bitcoin
Crypto is new, and most people don’t understand it yet. As crypto adoption grows, investors and money managers will realize the best way to get exposure to digital assets is to simply buy digital assets.
Stablecoins and Why They Matter
What are stablecoins and why are they important? I get asked these two questions quite a lot, especially by those who are new to the world of crypto.
CoinMENA launches region’s first cashback offer for cryptocurrency deposits
CoinMENA announced it has partnered with Beyon Money to give users across the Kingdom the chance to earn up to 5% cashback when depositing money into their CoinMENA crypto assets wallets, a first of its kind service in the region.
Regulation in the Region
We are used to crypto markets moving fast, but this level of positive regulatory movement is unprecedented. In the past two weeks, there were several important announcements about cryptocurrency regulations from around the world, including the MENA region.
Crypto is Regulated
One of the oldest, and frankly, laziest critiques of crypto is that it is not regulated. Another misconception is that crypto’s purpose is to be an unregulated alternative to the traditional financial system. Let's talk about that.
What the NFT
Non Fungible Tokens (NFTs) are probably the most divisive topic in crypto these days. As with most new technologies, we have diametrically opposing views about them. The truth, as always, is somewhere in between.
Crypto Take Over Is Happening
Crypto is becoming more mainstream every day as more institutions and countries adopt it. We are seeing a convergence of technology and money, and this is why I think there is still a lot of value to be captured.
Thoughts on the “Bear Market”
Crypto market cycles happen every 4 years, and in each cycle, we see bull runs followed by significant price pullbacks during bear markets. If you have been in the crypto space for more than one cycle, then “bear markets” represent a great opportunity.
Bahrain’s CoinMENA obtains second cryptocurrency license in the European Union
CoinMENA will now be able to expand to new jurisdictions in the MENA region and beyond with its second cryptocurrency license in the European Union, as well as increase the number of crypto assets and crypto financial services on the platform.
CoinMENA Integrates Chainlink to Bring Enhanced Transparency to Its Exchange
CoinMENA announced its live integration of the industry leading Chainlink Price Feeds. CoinMENA is referencing Chainlink Price Feeds during all fiat-to-crypto transactions on the exchange, ensuring users are getting fair-market exchange rates.
CoinMENA Secures $9.5M in Seed Round to Accelerate Regional Expansion
Bahrain-headquartered CoinMENA has secured $9.5M in its first seed funding round from BECO Capital, Kenetic, Arab Bank Switzerland, Bunat Ventures, Alameda Research, Rua Growth Fund and Girnas Capital alongside a number of select global angel investors.