Gulf Crypto Insight
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The first and only blockchain and cryptocurrency focused news portal in the Middle East.
https://cryptoinsight.ae/

The Content is for informational purposes only, you should not consider any such information or other material as financial or other advice
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Cloudflare outage affects crypto exchanges FTX, OKX, and Bitfinex

On Tuesday, a Cloudflare outage knocked out numerous popular web services, including big crypto exchanges FTX, OKX, and Bitfinex. Users attempting to visit certain websites were met with a “500 Internal Server Error” notice, raising questions about the security of centralized crypto platforms.

The content delivery network (CDN) confirmed via an update posted on June…

https://cryptoinsight.ae/cloudflare-outage-affects-crypto-exchanges-ftx-okx-and-bitfinex/

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FTX provides crypto exchange BlockFi with a $250 million credit facility

BlockFi, a сrypto lender and exchange, has secured a $250 million credit from leading crypto platform FTX. While many crypto platforms are struggling amid a bear market, BlockFi hopes the new credit line could help them remain afloat. The agreement also opens the door to future collaboration between BlockFi and FTX.

BlockFi CEO Zac Prince…

https://cryptoinsight.ae/ftx-provides-crypto-exchange-blockfi-with-a-250-million-credit-facility/

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Over 50% of Bitcoin addresses are still in profit despite drawdowns

Data from blockchain analytics firm Glassnode reveals that more than half of Bitcoin wallet addresses are still in profit, raising questions about the severity of the current market sell-off as Bitcoin fell below $20,000 over the last weekend. Despite Bitcoin bouncing back by Tuesday to over the $21,000 level, Morgan Stanley and Goldman Sachs warned…

https://cryptoinsight.ae/over-50-of-bitcoin-addresses-are-still-in-profit-despite-drawdowns/

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Hello there!
Day started from:

The global cryptocurrency market cap today is $941 Billion, a -0.4% change in the last 24 hours

Bitcoin ~ $20,325.40 (0.4%)
Ethereum ~ $1,084.47 (-0.4%)
Solana ~ $35.96 (5.2%)
Polkadot ~ $7.59 (1.2%)
Flow ~ $1.56 (8.0%)

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Deloitte partners with NYDIG to help institutions adopt Bitcoin

Deloitte, the leading global provider of audit and financial advisory, has announced a strategic partnership with New York Digital Investment Group (NYDIG), a Bitcoin investment firm that offers technology and financial services to businesses in a broad range of industries. Within the deal, the companies will collaborate to help businesses of different sizes incorporate digital…

https://cryptoinsight.ae/deloitte-partners-with-nydig-to-help-institutions-adopt-bitcoin/

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ProShares launches Short Bitcoin Strategy ETF

ProShares, an investment product provider, announced the launch of the US first short Bitcoin exchange-traded fund (ETF) that would allow investors to bet on Bitcoin’s decline. The product has launched Tuesday under the ticker BITI.

According to Monday’s statement, the ProShares Short Bitcoin Strategy ETF would allow investors to profit from a BTC price decrease…

https://cryptoinsight.ae/proshares-launches-short-bitcoin-strategy-etf/

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TIME and The Sandbox to build ‘TIME Square’ in the metaverse

TIMEPieces, an NFT community initiative under US media company TIME, and The Sandbox announced on Tuesday a new partnership to develop TIME Square, the firm’s first-ever destination on TIME Land, in The Sandbox metaverse.

According to an announcement on Medium, TIME Square will be built on the media outlet’s virtual land in The Sandbox as…

https://cryptoinsight.ae/time-and-the-sandbox-to-build-time-square-in-the-metaverse/

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Hello there!
Day started from:

The global cryptocurrency market cap today is $973 Billion, a 3.1% change in the last 24 hours

Bitcoin ~ $20,998.32 (3.2%)
Ethereum ~ $1,144.79 (5.5%)
Solana ~ $38.18 (6.1%)
Polkadot ~ $7.87 (3.6%)
Flow ~ $1.60 (2.8%)

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Hello there!
Day started from:

The global cryptocurrency market cap today is $998 Billion, a 1.9% change in the last 24 hours

Bitcoin ~ $21,247.17 (1.0%)
Ethereum ~ $1,221.50 (6.3%)
Solana ~ $41.25 (7.3%)
Polkadot ~ $8.18 (3.3%)
Flow ~ $1.71 (6.5%)

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Meta announces metaverse NFT wallet and Meta Pay

Social media Meta is working on a wallet for the metaverse as the company is expanding its NFTs test and launching new features for creators on Facebook, Instagram, and WhatsApp. Meta CEO Mark Zuckerberg has also confirmed that Facebook Pay was renamed Meta Pay.,

“Ideally, you should be able to sign into any metaverse experience…

https://cryptoinsight.ae/meta-announces-metaverse-nft-wallet-and-meta-pay/

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Solana Labs is developing a Web3 mobile phone on Android

Solana Labs is developing its own mobile phone titled “Saga,” an Android handset featured with Web3 dApps, integrated “Solana Pay” for QR-code payments, a mobile wallet, and a “seed vault” for private keys. According to Solana backers, the devices will cost around $1,000 and be available in early 2023.

At an event in New York,…

https://cryptoinsight.ae/solana-labs-is-developing-a-web3-mobile-phone-on-android/

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Cristiano Ronaldo and Binance partner to make NFT collection

Portuguese professional footballer Cristiano Ronaldo and crypto exchange Binance have signed a multi-year joint marketing agreement. As a part of the deal, multiple Ronaldo NFT collections will be produced each year of the deal and released exclusively on the Binance NFT marketplace.

“Together, we’ll give you the opportunity to own an iconic piece of sports…

https://cryptoinsight.ae/cristiano-ronaldo-and-binance-partner-to-make-nft-collection/

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Hello there!
Day started from:

The global cryptocurrency market cap today is $1.01 Trillion, a 0.4% change in the last 24 hours

Bitcoin ~ $21,454.75 (1.2%)
Ethereum ~ $1,240.81 (1.7%)
Solana ~ $41.18 (-0.2%)
Polkadot ~ $8.10 (-0.9%)
Flow ~ $1.76 (3.6%)

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The arbitrage funds making money from messy crypto markets

While the crypto market is a hot mess, leaving many investors struggling to turn a buck, the arbitrageurs enter – Lisa Pauline Mattackal and Medha Singh write for Reuters.

Bitcoin and other cryptocurrencies have either been shackled to ranges or in decline since January, leaving your regular buy-and-hold investor with little option but to sell…

https://cryptoinsight.ae/the-arbitrage-funds-making-money-from-messy-crypto-markets/

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Goldman Sachs reportedly raising $2 billion to buy Celsius assets

Goldman Sachs is reportedly seeking $2 billion in commitments from investors to buy distressed crypto assets of Celsius at steep discounts if the crypto lender goes bankrupt.

The Wall Street firm is looking to raise $2 billion from investors to buy up distressed assets from troubled crypto lender Celsius, CoinDesk reported citing two sources familiar…

https://cryptoinsight.ae/goldman-sachs-reportedly-raising-2-billion-to-buy-celsius-assets/

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Crypto jobs in UAE: BitOasis cuts its staff, while Binance hires dozens

BitOasis, a UAE-based Middle East crypto exchange, said it laid off nine of its staff in the face of a downturn and market turmoil. Contrary, Binance has listed over two dozen openings in the Emirates.

Founded in Dubai in 2015, BitOasis serves English and Arabic-speaking customers in the Gulf.

“Earlier this week, nine employees were…

https://cryptoinsight.ae/crypto-jobs-in-uae-bitoasis-cuts-its-staff-while-binance-hires-dozens/

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Hello there!
Day started from:

The global cryptocurrency market cap today is $993 Billion, a -1.2% change in the last 24 hours

Bitcoin ~ $21,188.96 (-1.2%)
Ethereum ~ $1,215.12 (-2.1%)
Solana ~ $39.93 (-3.2%)
Polkadot ~ $7.93 (-2.1%)
Flow ~ $1.69 (-3.7%)

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Axie Infinity’s Ronin Bridge to relaunch after $625 million hack

Months after getting exploited in one of the largest crypto-related hacks, the team behind Ronin announced the restart date. Axie Infinity’s Ronin sidechain is expected to be relaunched next week after the $625 million exploit, ‘with all user funds returned.’

Ronin Network, an EVM blockchain powering popular play-to-earn game Axie Infinity, has announced the reopening…

https://cryptoinsight.ae/axie-infinitys-ronin-bridge-to-relaunch-after-625-million-hack/

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Crypto Trends Weekly June 18 – 24

Breaking crypto news from the last week (June 18 – 24, 2022):

June 18: On Saturday evening, Bitcoin plunged to about $17,749, and Ether fell to about $897 as the sell-off in the crypto market accelerated. The world’s two most popular cryptocurrencies are down more than 35% over the last week, as both breach symbolic…

https://cryptoinsight.ae/crypto-trends-weekly-june-18-24/

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DappRadar: GameFi continues to grow despite crypto market turmoil

According to the new DappRadar study, the latest turbulence in the crypto markets has not stopped investments and forward movement of the GameFi and metaverse sector. The report has also shown continued funds inflow into several major projects, such as Splinterlands, Illuvium, Galaverse, and STEPN.

Published on June 21, the latest DappRadar x BGA Games…

https://cryptoinsight.ae/dappradar-gamefi-continues-to-grow-despite-crypto-market-turmoil/

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