BlockByBlock

The first-ever blockchain newsletter tailored to the GCC. Blockchain: one block at a time. BlockByBlock is an affiliate to AgoraGroup.

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With Block By Block, the GCC will welcome its first-ever, blockchain-driven newsletter.

Stay in-the-know by subscribing to our free service.

Link available here: https://t.co/ZbY0iAJ30B

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Shapella Not Chapelle ☝

Surprisingly, Ethereum's recent hard fork "Shapella" had nothing to do with world-renowned comedian Dave Chapelle.

Instead, Ethereum's hard fork allowed stakers on the Beacon Chain to withdraw their staked Ether, which had been locked since 2020.

[BlockByBlock @BlockByBlockGCC]

Digital Waves Is Makin' Waves🌊

@DwfLabs captured headlines after splurging over $200M on AI-crypto-Web3 projects like @MeetTomiAI, @Fetch_ai and @LABELFoundation.

Additionally, Yalla!Market made headlines after announcing it would be accepting crypto via Binance and IvendPay.

[BlockByBlock @BlockByBlockGCC]

The UAE vs. Saudi💪

The rivalry intensifies as KSA looks to become the destination of choice for expatriates, a position held for decades by the UAE.

@WamdaME's report quantifies a portion of this rivalry.

In March, KSA startups raised $175M compared to the UAE's $59M.

[BlockByBlock @BlockByBlockGCC]

In this week's issue:

⚡Startups in the UAE and Saudi Arabia raise $234 million of the $247 million raised in the MENA region in March.

🌟@DwfLabs, a UAE-based Web3 firm, invests $1 million in @LABELFoundation, a Korean blockchain-based entity focused on music disruption.

[BlockByBlock @BlockByBlockGCC]

@LayerZero_Labs proves investors still have an appetite for blockchain in 2023🍴

Other 'major' news:

👉50+ legislative items relating to crypto & digital asset policy made their debut on Capitol Hill.

👉The Bank of England begins building a team to develop the nation’s CBDC.

[BlockByBlock @BlockByBlockGCC]

We love us some startup action, and last week had plenty of it!

Ghaf Labs and @RepublicCrypto also made moves by partnering up to offer their blockchain advisory, consultancy and incubator services to MENA's blockchain and Web3 companies.

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Central Banks are hungry for CBDCs🏛️

While regulators' attitudes to crypto vary greatly, there seems to be a unified acceptance of CBCDs.

As BlockByBlock's latest newsletter release reported, Kuwait has joined the list of governments actively exploring CBDCs.

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Read more about this here: https://t.co/AtxHBO7F0g

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Unlock Blockchain crowns the 20 Best CEOs in Blockchain in the MENA Region👑

[BlockByBlock @BlockByBlockGCC]

Christopher Flinos, @HAYVNPay
Saeed Hareb Aldarmaki, @SheeshaFinance_
Anjo de Heus, @PlayTreks
Mehtap Onder, GCEX
@vineetbudki, @cypher_capital

[BlockByBlock @BlockByBlockGCC]

NFT market received an unlikely catalyst last week💭

Trump NFTs received major price boost after a New York jury indicted him on 30+ counts of fraud.

Minted for $99 on the Polygon network, the NFTs surged to a price of $1K & recorded nearly $5B worth of trading volume.

[BlockByBlock @BlockByBlockGCC]

It's "Regulators vs. Operators" in the crypto market👊

Despite Bitcoin's impressive price action in 2023, the crypto market remains fraught with a tense regulators and operators relationship.

Just last week, Coinbase had made headlines by receiving a lawsuit from the SEC.

[BlockByBlock @BlockByBlockGCC]

All Quiet On The Eastern Front🤫

Startup activity has diminished slightly locally following the beginning of the holy month of Ramadan.

Yet, some operators are refusing to slow down even now.

@MarathonDH plans to open up 2 mining sites comprising 250 megawatts in Abu Dhabi.

[BlockByBlock @BlockByBlockGCC]

Bahrain, KSA & UAE make significant strides in developing crypto regulatory landscape🐫

Many crypto exchanges progressed in their pursuit of a fully-functional license of operation in UAE.

The KSA Central Bank is looking into a forum that differentiates between virtual assets.

[BlockByBlock @BlockByBlockGCC]

This issue:

⚡The @CBB_News introduces a regulatory framework for digital tokens to strengthen local crypto assets market.

💸@MarathonDH says it will open up 2 mining sites comprising 250 megawatts in Abu Dhabi.

🕌 BlockByBlock wishes all its readers a hearty Ramadan Kareem.

[BlockByBlock @BlockByBlockGCC]

Read more about this here: https://t.co/KirDDbZsdd

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The SEC vs. Coinbase: A Drama🤯

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A Wells Notice is a letter stating the SEC's plans to bring an enforcement action against its recipient.

The Wells Notice alleges that Coinbases' staking products constitute unregistered securities.