5th February 2023

Dubai has been named the top cryptocurrency hub in the region and second globally, according o a study by Recap. London was ranked first globally, thanks to its robust financial infrastructure and thriving start-up ecosystem. The study evaluated the crypto-readiness of the most populous cities around the world based on eight key factors, including quality of life, crypto-specific events, crypto-related jobs, crypto companies, R&D spending, number of crypto ATMs, capital gains tax rate, and Crypto ownership.

Dubai's efforts to become the leading center for cryptocurrency and blockchain technology in the Middle East have earned it it's top ranking, as multiple new laws for crypto exchanges have been established in the city. Dubai has set up the Virtual Assets Regulatory Authority (VARA) to regulate and license the sector in Dubai's mainland and free zone territories (excluding DIFC).

Many major cryptocurrency firms, such as Crypto.com, Bybit, Binance, and Deribit, have already established themselves in Dubai, with others planning to move there. A recent YouGov survey found that two-thirds of UAE adults are interested in cryptocurrency, and Dubai offers 772 crypto-based companies for residents to pursue careers in the sector. With a high quality of life score of 175.84, and zero percent tax, Dubai is an attractive destination for crypto investors, and maybe the second choice for some UK residents.

Speaking in an Interview with CNN?Saqr Ereiqat, Co-Founder of Crypto Oasis said, "It is exciting to be on the 4th Monetary Revolution! The first monetary revolution was based on precious metals, the second was the shift to paper money, and the third was the transition to electronic money. The fourth is the rise of decentralised digital currencies or cryptocurrencies that we are currently witnessing."

Other Top News this week included?Mastercard and Binance launching prepaid Crypto cards in the crowded Brazilian market?and The Crypto ecosystem growth in Bahrain after the entrance of Binance. Crypto market resurgence produces over 44,000 new Bitcoin millionaires, NFT Sales Soar: January 2023 reaches nearly $1 Billion in 30 days with a 41% increase, and Sorare partners with Premier League for Web3 fantasy sports.?

So here's what happened This Week in Crypto.

In the News:?

London, Dubai, and New York have top rankings as the most crypto-ready cities in the world. In a detailed report on the most cryptocurrency-ready cities around the world, London was named the world's leading crypto hub. Dubai is ranked second as it strives to become the Middle East's top center for cryptocurrency and blockchain technology, following a year of various new regulations allowing crypto exchanges to operate in the city. City AM?

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The Middle East could emerge as a crypto hub, experts believe. "We are seeing an inflow of talent and capital in the UAE, which is built on world-class infrastructure," said Saqr Ereiqat, co-founder of Crypto Oasis, which includes over 1650 Middle Eastern blockchain companies. Middle East Economy?

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Mastercard and Binance to launch prepaid Crypto card in the crowded Brazilian market. The Binance prepaid card will let users convert and spend their crypto holdings just like any other traditional debit card. Be In Crypto?

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Kazakhstan seeks to improve the cryptocurrency trading framework. Kazakhstan, which is home to one of the world's largest Bitcoin (BTC) mining operations, has launched a consultation document in an effort to measure public interest in suggested reforms that would strengthen the regulatory environment for cryptocurrency trading. Blockchain News?

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Britain announces plans for ‘Robust’ crypto rules, launches consultation. The United Kingdom has announced "ambitious plans" to "robustly regulate" different crypto activities in order to safeguard customers and promote the economy. Bitcoin News?

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Blockchain IM apps to reach over half-billion-dollar valuation by 2030. According to a new Grand View Research estimate, the worldwide blockchain messaging application industry is expected to be worth $536.5 million by 2030. The study, which was issued on February 1, shows a compound annual growth rate of 43.6% over a seven-year period. Cointelegraph?

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The Crypto ecosystem grows in Bahrain after the entrance of Binance. With the arrival of Binance, Bahrain's crypto sector has grown. Bahrain has seen an increase in crypto exchange users, crypto payments, crypto jobs, and competitive crypto services on all fronts. Lara on the Block?

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Blockchain provider SIMBA chain awarded $30M by US Air Force STRATFI program. The effort is aimed at discovering and developing technologies that will ensure the United States Air Force's future superiority. Cointelegraph?

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Elon Musk wants the Twitter payments system built with crypto in mind. Twitter is set to roll out a payments tool, but Elon Musk wants it built to potentially support crypto in the future. Cointelegraph?

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Unbanked and Mastercard team up to accelerate Crypto card adoption within Web3 organizations in Europe. The Unbanked and Mastercard are working together to create cryptocurrency-powered credit card programs that offer simplicity, security, and consumer protection. Bitcoin News?

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Crypto market resurgence produces over 44,000 new Bitcoin millionaires. According to Finbold statistics, the number of Bitcoin millionaire addresses as of January 28 was at 72,483, up 44,399, or 61%, from the January 5 figure of 28,084 BTC millionaire holders. During this time, Bitcoin has increased by almost 37%. Finbold?

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Institutional investors forecast 'Strong Year' for Bitcoin — 65% expect BTC to hit $100K, survey shows. According to a recent study, institutional investors anticipate "a strong year ahead for bitcoin" and are optimistic about the cryptocurrency's long-term value. Bitcoin News?

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Polygon ends the month up 50%. MATIC is on the rise as a zero-knowledge chain upgrade approaches. Decrypt?

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South Korea to deploy cryptocurrency tracking system in 2023. South Korea's Ministry of Justice revealed intentions to implement a crypto-tracking system to combat money laundering and reclaim cash associated with illegal activity. Cointelegraph?

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California DMV to digitize car title management system via Tezos. California DMV’s chief digital officer, Ajay Gupta, emphasized the agency's desire to modernize its current systems and make car title transfers more transparent.? Cointelegraph?

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Arte News:?

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DIFC Metaverse platform launched to promote Dubai as a global metaverse leader. The platform is part of a comprehensive plan being created by DIFC, the Middle East, Africa, and South Asia region's premier global financial hub, to enhance Dubai's role as a worldwide metaverse leader. Khaleej Times?

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The Venom Ventures Fund is looking to place $1 Billion in myriad Web3 projects. “A good time to launch something like this is when liquidity is scarce,” Knez remarked. “You can show up with a lot of capital and there’s a lot of people — good projects — that are having a hard time getting capital.” The Street?

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Toyota sponsors a Web3 hackathon for DAO developers. Toyota, the world's largest automobile corporation in terms of sales, is delving deeper into blockchain technology's potential uses by supporting a Web3 hackathon for decentralized autonomous organization developers. Crypto Politan?

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NFT Sales Soar: January 2023 reaches nearly $1 Billion in 30 days with 41% increase. According to statistics recorded on February 1, 2023, NFT sales jumped 41.96% over the previous month. In 30 days, NFT sales hit over $1 billion, with an estimated total of $997.53 million. Bitcoin News?

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ConsenSys launches MetaMask learn, the next step in democratizing Web3. It provides an interactive MetaMask UI environment to safely onboard people new to self-custody onto MetaMask, as well as lead users through the most prevalent subjects to get them started in Web3. Unlock Blockchain?

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Metaverse tokens outperform top Crypto assets in 2023 with Decentraland's MANA leading the pack. Both Bitcoin (BTC) and Ethereum (ETH), the leading crypto asset and top smart contract token, have outpaced Metaverse crypto assets. Decentraland's MANA cryptocurrency has outperformed the market in the last month, increasing 150% versus the US dollar. Bitcoin News?

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Cronos Labs to accept the second cohort for $100M-backed Web3 accelerator program. The initiative begins on April 24 and runs for 12 weeks, with chosen companies receiving $30,000 in upfront seed cash. Participants will also have the chance to win up to $300,000 in startup money from Cronos Labs, as well as mentoring, masterclasses, and assistance from industry professionals. Cointelegraph?

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Miidas launch NFT presale launchpad. The NFT presale launchpad gives consumers early access to any Core NFT collection before it hits the market. BSC News?

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Web3 Security Firm Hypernative Secures $9M in Seed Funding. According to Hypernative co-founder and CEO Gal Sagie, the cash will help the company's aims of providing a "proactive security and risk prevention platform" for Web3 enterprises, decentralized financial protocols, and other crypto players.? Yahoo Finance?

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Sorare partners with Premier League for Web3 fantasy sports. The game will have cards featuring players from all 20 English Premier League (EPL) football clubs. These will be included with new gameplay elements like league-specific contests, draft-based gameplay, and a salary cap mode. Venture Beat?

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Recruiting agencies in Japan are turning to the Metaverse. held on January 27, with over 2,000 students participating. The students communicated and reviewed job previews provided in several booths run by various firms using avatars. Bitcoin News?

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OpenSea sees a spike in Ethereum-based NFT sales, thanks to these factors. The recent spike in sales volume is due to an increase in the amount of Ethereum-based NFTs sold on the OpenSea marketplace. Furthermore, since the beginning of the 2023 trade year, the marketplace has grown in popularity. AMB Crypto?

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For better or worse, NFT Open Editions are on the rise. In addition to providing a financial boost, Open Editions offers NFT artists an opportunity to engage their fan base, enabling them to collect art while increasing their reach. NFT Now??

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Proof reveals artists behind Grails III NFT release, urging collectors to appreciate Digital Art over hype. The collection includes generative artist Matt Kane, All Seeing Seneca, the digital artist who helped produce art for NFT collection Bored Ape Yacht Club, and Josie Bellini, the originator of NFT collection Cyber Brokers. Coindesk?

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Amazon NFT initiative coming soon. Amazon has been exploring the possibilities of Web3 tech for some time. Blockworks?

?That's it for this week, see you next Sunday.