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Ripple Effect? Hidden Road Enters Middle East with “In-Principle” Abu Dhabi Licence
Hidden Road, the crypto prime broker acquired by Ripple last month, has cemented its presence in the Middle East by securing an in-principle approval from the Financial Services Regulatory Authority (FSRA) of ADGM to operate as a regulated financial services firm. The approval has been granted to the ADGM entity of Hidden Road.
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Why Is XRP Going Up? SEC Confirms Ripple Lawsuit End with a $50M Settlement
The long-running legal dispute between Ripple and the Securities and Exchange Commission (SEC) is finally over. The regulator confirmed yesterday (Thursday) that both parties have agreed to a settlement, which involves a $50 million penalty paid by the blockchain company.
XRP Reacts Fast
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Celsius Founder Mashinsky Sentenced to 12 Years for Crypto Fraud Scheme
Alex Mashinsky, the Celsius founder, was sentenced to 12 years in prison for a scheme that unraveled billions in investor funds and trust, Bloomberg reported. Mashinsky, once a vocal promoter of Celsius Network’s sky-high returns, will now spend over a decade behind bars after admitting to defrauding hundreds of thousands of customers.
On Thursday, US District Judge John Koeltl
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Coinbase Enters Crypto Derivatives with $2.9B Deal to Acquire Deribit
Coinbase Global has agreed to buy Deribit, a major cryptocurrency derivatives exchange. The deal is valued at approximately $2.9 billion. Coinbase announced the acquisition on May 8, as Cointelegraph reported.
Coinbase Announces Deribit Acquisition, Pending Approval
Greg Tusar, Vice President of Institutional Product at Coinbase, said the move is part of the exchange’s
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Crypto.com Exchange Joins Lynq Network to Enable Real-Time Settlement for Institutional Clients
Crypto.com Exchange has joined the Lynq network as its first exchange partner, embracing real-time settlement and yield-on-transfer capabilities.
According to the exchange, the partnership enables it to enhance how capital flows through crypto markets by reducing risk and improving efficiency for institutional clients.
A Strategic Alliance to Streamline Settlement
The
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Bitcoin Miner Phoenix Group Posts $154 Million Loss and 54% Revenue Decline in Q1 2025
Phoenix Group, the first UAE-listed Bitcoin (BTC) mining company (ADX: PHX), reported a loss of $153.6 million for the first quarter of 2025, a stark reversal from the $66.2 million profit recorded in the same period last year, as the company faced significant unrealized losses on its digital asset holdings.
Phoenix Group
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US Banks Can Now Buy and Sell Customers’ Crypto Assets: OCC Clarifies
The US Office of the Comptroller of the Currency (OCC), which regulates national banks, has clarified that institutions under its oversight can now buy and sell crypto assets on behalf of their customers. This update was confirmed in an interpretive letter published yesterday (Wednesday).
In addition, the
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Coinbase Said New York Attorney General Asked SEC to Declare Ethereum a Security: Report
Coinbase released internal U.S. Securities and Exchange Commission communications showing that New York's top law enforcement office urged the agency to classify Ethereum’s ether (ETH) as a security during its legal pursuit of crypto exchange KuCoin in 2023.
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Revolut to Enable Bitcoin Lightning Payments in Europe in Collaboration with Lightspark
Revolut is collaborating with Lightspark to enable payments via the Bitcoin-based Lightning Network, a move that aims to streamline crypto transfers for users across the UK and select European countries.
With traditional blockchain payments often considered slow and costly, the two firms expect this partnership to enable real-time, crypto-native infrastructure in
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BurjX Receives In-Principle FSRA Approval, Integrates Fireblocks Security
BurjX, a UAE-based digital asset brokerage, has received In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). The approval brings the platform closer to launching as a fully regulated digital asset trading and custody provider.
BurjX Targets Compliant Crypto in MENA
BurjX offers access to digital assets like
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Tether Expands Into AI With Platform Supporting Bitcoin, USDt Payments
Cryptocurrency firm Tether has set its sights on artificial intelligence, a new project that combines open-source design, self-custody, and peer-to-peer payments.
Its upcoming Tether AI platform aims to allow users to make direct transactions in Bitcoin and USDt, the firm’s stablecoin, highlighting a decentralized approach to AI-driven financial tools.
Tether AI Integrates
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Worldcoin Ordered to Delete Biometric Data in Kenya Over Privacy Breach
A Kenyan court has ruled that Worldcoin must erase biometric data it unlawfully gathered from thousands of citizens, in a major regulatory pushback against the cryptocurrency-linked identity project, local media outlet Citizen Digital reported.
The ruling follows mounting concerns over data protection and privacy violations in the firm's short-lived but controversial operations in the
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Binance Partners with Kyrgyzstan for Crypto Push amid CBDC Progress
Binance has signed a Memorandum of Understanding (MoU) with the National Agency for Investments under the President of the Kyrgyz Republic. The agreement was finalized during the first meeting of the Council for
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KuCoin Eyes South Korea Comeback After Regulatory Setback
Despite being pushed out of the South Korean market earlier this year, crypto exchange KuCoin isn’t ready to give up on the region. The platform's newly appointed CEO, BC Wong, has made it clear that a return is not only possible but planned, though only after a broader global compliance effort takes shape, Cointelegraph reported.
Regulators Target Unregistered Crypto Platforms
In
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VARA License Paves Way for MultiBank and MAG’s $3B Real Estate Tokenization
Dubai-based real estate developer MAG has signed a $3 billion agreement with MultiBank Group and Mavryk. The deal involves tokenizing real-world assets (RWAs), making it the largest initiative of its kind to date.
The agreement will bring MAG’s high-value properties onto the blockchain. These include The Ritz-Carlton Residences, Dubai, Creekside, and Keturah Reserve. Investors will be
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