Saudi Ministry of Tourism to give away NFTs to each UNWTO delegate

The Ministry of Tourism in Saudi Arabia plans to give personalized NFTs to each delegate at the 116th Executive Council of the United Nations World Tourism Organization (UNWTO) in Jeddah, Aljoharah Al-Mogbel, Digital Transformation General Manager at the Ministry of Tourism, announced.

As she told Arab News, each delegate would receive a gift box containing…

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PayPal allows users to transfer crypto to external wallets

On June 7, PayPal announced that crypto users can now move funds off its platform to external wallets and hardware devices, a long-awaited feature that will make the company’s offering more like other popular cryptocurrency services.

“Starting today, PayPal supports the native transfer of cryptocurrencies between PayPal and other wallets and exchanges,” the payment platform…

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Bitcoin tumbles as inflation hits 40-year high of 8.6%

Bitcoin’s price sank following the latest US Consumer Price Index (CPI) release, which showed that the index had unexpectedly hit 8.6%, reaching its highest level in 40 years.

Despite economists’ expectation that the CPI figure to remain flat at 8.3%, the same as April, the Labor Department’s announcement on June 10 defied that inflation is…

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The global cryptocurrency market cap today is $1.14 Trillion, a -8.8% change in the last 24 hours

Bitcoin ~ $27,355.27 (-6.5%)
Ethereum ~ $1,437.76 (-13.9%)
Solana ~ $31.90 (-14.4%)
Polkadot ~ $7.58 (-13.1%)
Flow ~ $1.85 (-19.8%)

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Crypto economy’s value plunges to $1.2 trillion – lower than last July’s lows

The $1.19 trillion crypto economy is now lower in value than the July 2021 lows. Over the last week, digital currencies like Bitcoin, Ethereum, Cardano, and XRP, have shed significant value against the US dollar, as the top cryptos have lost from 50% to 80% against their all-time highs.

During the last seven days, the…

https://cryptoinsight.ae/crypto-economys-value-plunges-to-1-2-trillion-lower-than-last-julys-lows/

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85% of merchants give high priority to enabling crypto payments – Deloitte survey

According to a survey conducted by Deloitte, over 85% of merchants are giving high or very high priority to enabling cryptocurrency payments. Furthermore, nearly three-quarters of those surveyed reported plans to accept cryptocurrency or stablecoin payments within the next 24 months.

Deloitte, one of the Big Four major financial services firms, published on June 8…

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Jack Dorsey and Jay-Z launch ‘Bitcoin Academy’ in Brooklyn

Twitter founder Jack Dorsey and rapper Shawn “Jay-Z” Carter will fund a Bitcoin education program for residents of Marcy Houses, a public housing complex in Brooklyn where Jay-Z grew up. Dorsey said he thinks Bitcoin can be an important tool in empowering marginalized communities.

Starting this summer, residents of Marcy Houses in Brooklyn will be…

https://cryptoinsight.ae/jack-dorsey-and-jay-z-launch-bitcoin-academy-in-brooklyn/

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The global cryptocurrency market cap today is $1.07 Trillion, a -7.3% change in the last 24 hours

Bitcoin ~ $25,309.53 (-7.7%)
Ethereum ~ $1,325.61 (-7.7%)
Solana ~ $27.86 (-12.7%)
Polkadot ~ $6.91 (-9.0%)
Flow ~ $1.65 (-11.1%)

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Roland Berger partners with Crypto Oasis to boost crypto economy in the Gulf region

Roland Berger, a global strategy and management consultancy, has partnered with Crypto Oasis to join its efforts to boost the Gulf region’s blockchain and decentralized technologies ecosystem. The news comes two weeks after Crypto Oasis said it has already identified over 1,000 blockchain organizations in the UAE amid the exponential growth of the ecosystem, updating…

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Crypto Trends Weekly June 4 – 10

Breaking crypto news from the last week (June 4 – 10, 2022):

June 4: The Dubai-based real estate developer, DAMAC Properties, has completed cryptocurrency deals worth $50 million since the beginning of 2022, the company’s COO Ali Sajwani revealed.

June 5: The Federal Trade Commission (FTC), the enforcer of civil US antitrust law, revealed that…

https://cryptoinsight.ae/crypto-trends-weekly-june-4-10/

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SEC investigates TerraUSD stablecoin crash

The US Securities and Exchange Commission (SEC) is looking into the collapse of the TerraUSD stablecoin and whether its marketing violated federal investor-protection regulations. The lawyers for the SEC are seeing whether Terraform Labs, which is behind the coin, broke the rules for securities and investment products.

According to a Bloomberg source, the regulator’s enforcement…

https://cryptoinsight.ae/sec-investigates-terrausd-stablecoin-crash/

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The global cryptocurrency market cap today is $1 Trillion, a -8.0% change in the last 24 hours

Bitcoin ~ $22,742.05 (-9.8%)
Ethereum ~ $1,220.75 (-7.9%)
Solana ~ $30.40 (9.1%)
Polkadot ~ $7.35 (6.3%)
Flow ~ $1.62 (-1.4%)

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Bitcoin plunges under $23,000 as crypto market cap falls below $1 trillion

Bitcoin slumped to below $23,000, while the big crypto lender Celsius halted withdrawal. For the first time since early 2021, the overall crypto market capitalization fell below $1 trillion, amid traditional markets also came under severe pressure.

On Monday, Bitcoin suffered its largest price drop in 2022 as signs emerged that the steep correction in…

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NFT prices sink, but overall NFT sales are on the rise

Due to the crypto market being down, Bored Apes, Moonbirds, and other top NFT collections are losing value, but NFT sales are rising as collectors appear to be taking advantage of lower prices.

As the crypto market is down with a 14% drop in overall value over the last 24 hours, Bitcoin lost 16%, and…

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The global cryptocurrency market cap today is $944 Billion, a -6.0% change in the last 24 hours

Bitcoin ~ $21,248.25 (-6.0%)
Ethereum ~ $1,124.99 (-7.6%)
Solana ~ $28.16 (-7.1%)
Polkadot ~ $7.19 (-1.7%)
Flow ~ $1.49 (-7.4%)

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Web3 DeCode: Future of the internet at the Gulf News event in Dubai

Gulf News has announced that it will be hosting Web3 DeCode, a two-day exhibition at the Grand Hyatt in Dubai, on June 25 and 26.

To raise awareness of Web3 technology, its ascension in emerging markets like the UAE plus its impact on innovation, and life, as we know it, Gulf News is hosting Web3…

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Mike Novogratz says the crypto market is nearing a bottom

Mike Novogratz, the CEO of the institutional crypto investment firm Galaxy Digital, said that the bottom might be near after the recent market turmoil. He is drawing parallels between crypto and Long Term Capital Management, a highly leveraged hedge fund that blew up in the late 1990s.

“We’ve gone to a level that should be…

https://cryptoinsight.ae/mike-novogratz-says-the-crypto-market-is-nearing-a-bottom/

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Despite ‘crypto winter,’ billionaire Steven Cohen keeps investing in DeFi

While the crypto market has lost $2 trillion in value since November 2021, the venture arm of the $22 billion hedge fund run by Steve Cohen, the man who inspired the “Billions” TV show, last week announced it had invested in its fifth crypto company, a decentralized finance firm that provides data and trade execution…

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The global cryptocurrency market cap today is $986 Billion, a 5.1% change in the last 24 hours

Bitcoin ~ $21,972.37 (4.2%)
Ethereum ~ $1,186.13 (6.5%)
Solana ~ $33.72 (20.5%)
Polkadot ~ $7.98 (11.7%)
Flow ~ $1.61 (9.1%)

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Bitcoin surges following the US Fed raise rates at the highest level since 1994

Bitcoin’s price fluctuated after the Federal Reserve announced further monetary tightening on June 15, falling to as low as $20,270 after the Fed’s statement. But an hour after the announcement, the cryptocurrency was traded at $21,444.

As a long-awaited step, the Fed announced that it will raise the fed-funds rate, the interest rate at which…

https://cryptoinsight.ae/bitcoin-surges-following-the-us-fed-raise-rates-at-the-highest-level-since-1994/

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