Blockchain DXB: Crypto & Coffee at 8 ☕ 🚨 Dubai: 08th April 🚨 💡 Ripple stablecoin 👀 Do Kwon & Terraform Labs Liable for Fraud❗ 🤘🏻Avenged Sevenfold NFT ⚫BlackRock ETF update

08th April: Crypto & Coffee at 8
💡 Ripple stablecoin 👀 Do Kwon & Terraform Labs Liable for Fraud❗ 🤘🏻Avenged Sevenfold NFT ⚫BlackRock ETF update

Ripple, plans to launch a U.S. dollar stablecoin, entering the $150 billion market currently dominated by Tether and Circle. Backed 1-to-1 by assets like U.S. dollar deposits and government bonds, Ripple’s stablecoin aims to provide stability in the cryptocurrency market. CEO Brad Garlinghouse cites instability among competitors as a driving factor. Despite ongoing legal challenges from the SEC, Ripple remains optimistic about its stablecoin’s role in expanding the XRP ecosystem and its overall future. More info via CNBC here https://lnkd.in/dKwGaNTd

🔴 How will a Ripple stablecoin impact XRP?
❗ Jeremy Allaire, the CEO of stablecoin issuer Circle, has welcomed Ripple’s entrance into the market. He said it was “encouraging to see more companies taking a compliance-first approach to building on-chain dollars.”

👀 A Manhattan jury found Terraform Labs and its co-founder Do Kwon liable for civil fraud charges by the SEC regarding the $40 billion collapse of the Terra ecosystem in May 2022. They misled investors about the stability of Terra USD (UST) and the Terra blockchain’s use cases. The algorithm behind UST’s peg to the dollar was misrepresented, relying on continuous trading instead of self-healing capabilities as claimed. Kwon, currently in Montenegro facing criminal charges in the U.S. and South Korea, awaits extradition decisions amid ongoing legal battles. Official statement from U.S. Securities and Exchange Commission https://lnkd.in/diC6xeUP

🤘🏻 Avenged Sevenfold’s Season Pass is Turning Heavy Metal Fans Into Blockchain ‘Evangelists’
❗ Avenged Sevenfold launches Season Pass, a decentralized fan rewards platform akin to Fortnite’s battle pass, built on Polygon. Frontman M. Shadows aims to gradually introduce fans to Web3, turning them into advocates. Fans earn rewards for engaging in band-related activities, tradable on third-party marketplaces. Leveraging their established fanbase, Avenged Sevenfold drives Web3 adoption despite initial challenges. They aim to lead by example, proving the utility of Web3 for musicians and fans alike. Info via Decrypt here https://lnkd.in/dA2WZvQC 

⚫ BlackRock has expanded the list of authorized participants (APs) for the iShares Bitcoin Trust by adding Goldman Sachs, Citigroup USA Inc., UBS, Citadel Securities, and ABN AMRO. With these additions, the total number of APs now stands at nine, including existing participants Jane Street Capital, LLC, J.P. Morgan, Macquarie Group, and VIRTU AMERICAS LLC. Typically, popular ETFs feature more than a dozen APs. They continue to attract billions of dollars from investors. Filings with SEC here https://lnkd.in/dEk8vKha 

🟠 Two UAE news (See slides)
⚡ Crypto Polo Cup set to debut in Dubai, uniting world-class Polo players and Web3 enthusiasts
⚡ Abu Dhabi to host The Bitcoin Mena Conference in 2024

For slides click here https://tinyurl.com/ybxwacpz

LinkedIn Profile: https://tinyurl.com/bdeevbru

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