Dubai Crypto & Coffee at 8 ☕ 🚨 Dubai: 14th Aug 🚨 🔻Stablecoin volume🔻 Michael Saylor on Centralization of #BTC ❗Curve Finance hack update 🚨SEC delays ARK invest + 21Shares spot BTC ETF

14th August: Crypto & Coffee at 8 🎙️
🔻Stablecoin volume🔻 Michael Saylor on Centralization of #BTC ❗Curve Finance hack update 🚨SEC delays ARK Investment Management LLC + 21Shares ETF

💥Last week the global crypto market was bombarded with news surrounding stablecoins Ripple, Hedera & PayPal announced plans for stablecoins BUT since the previous 24 hours, the volume of all stablecoins is now $14.92B, which is 91.96% of the total crypto market 24-hour volume. See slides 1 & 2 below. Also, check out Blockchain DXB’s Crypto & Coffee at 8 where we share our commentary.

🚨 MicroStrategy former CEO Michael Saylor speaking on the Coin Stories podcast explained that Bitcoin being bought and custodied by corporations should not be feared, outlining three main reasons driving the need for custodians. Full interview available via YouTube here https://lnkd.in/dW3Aw7wM

❗ Saylor outlined three main reasons underpinning the need for custodians:
- Technical
- Political
- Natural.

🎙️ What are the chances BlackRock could directly or indirectly force Saylor to dump his bitcoins? Check out the episode on commentary on this.

❗Curve Finance update
❗ Curve Finance vows to reimburse users after $62M hack. The platform 
mentioned via Twitter that 70% of funds affected by the hack last week are recovered, and an active investigation with regard to the rest is underway. Tweet here https://lnkd.in/dcQXgeCk In the meantime, the team are also working on measuring the respective shares of each affected user with the goal of proper distribution. We covered the hack in detail to understand the hack listen to our episode here via Spotify https://lnkd.in/dte7gRHA
More than $ 100M worth of cryptocurrency was at risk due to a bug impacting Curve

🚨 NEWSBTC has reported that U.S. Securities and Exchange Commission (SEC) has moved to delay the ARK Investment Management LLC + 21Shares Bitcoin ETF in a move that could be seen as a delay tactic by the regulator. Article here https://lnkd.in/dGATVCBG Official document by SEC here https://lnkd.in/dKH9_efk The article also has some interesting points about concerns over Bitcoin manipulation & regulation

🔴 Catherine Wood’s ARK Invest and 21Shares had collaborated again to refile for a spot Bitcoin ETF earlier this year after the SEC rejected previous applications. Following the standard procedures, the SEC was meant to approve or disapprove the application by August 13. However, with its latest order calling for public input on ARK 21 Shares application, this deadline is consequently extended. 

🟠 Two UAE news (See slides)
⚡twofour54 Abu Dhabi — Media and Entertainment Hub unveils ‘metaverse-enabled’ film production studio in Abu Dhabi
⚡ 42 Abu Dhabi hosts sessions on blockchain technology and cloud engineering in collaboration with leading entities

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