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Circle’s USDC and EURC Stablecoins Becomes First Recognized Stablecoins in Dubai
Circle’s stablecoins, USD Coin (USDC) and EURC, are the first to be recognized by the Dubai Financial Services Authority (DFSA) under the Dubai International Financial Centre (DIFC) crypto token regime. This approval allows over 6,000 DIFC firms to integrate these fully reserved, fiat-pegged digital currencies into financial services.
The move strengthens Circle’s regulatory standing and aligns with Dubai’s growing role in global crypto adoption. With USDC’s $57 billion market cap and EURC’s high transaction volume, this milestone bridges traditional finance with blockchain innovation in the Middle East.
Good Crypto Buys For The Bear?
The crypto market is showing signs of a bear trend despite large purchases by companies and individuals, as altcoins decline and Bitcoin struggles. Uncertainty is heightened by global economic shifts, including U.S. policies and geopolitical conflicts affecting the dollar’s dominance. Amidst this, XRP is gaining traction as a banking solution, though its long-term viability is questioned.
Ethereum and Solana remain strong blockchain contenders, with investor interest and development continuing. Additionally, Bitcoin's liquidity issues are being addressed, with Cardano focusing on solutions that could improve accessibility and staking opportunities.
Bybit replenishes Ethereum deficit with $1.23 Billion after major Cyberattack
Bybit suffered a massive hack attributed to North Korea’s Lazarus Group, resulting in the theft of over $1.4 billion. The attack targeted an Ethereum cold wallet during a routine transfer, leading to the unauthorized movement of 400,000 ETH and sETH, causing Ethereum’s price to drop. Bybit responded by injecting over $1.4 billion to cover the shortfall, with CEO Ben Zhou confirming that the gap has been fully closed.
The exchange leveraged Proof of Reserves (PoR) and a Merkle tree system to ensure asset security and transparency while investigations continue into the stolen funds.
The Next Smart Move In Crypto - My Top 20 DePINs!
The article emphasizes the importance of early adoption in crypto investing, comparing past skepticism toward Bitcoin and memecoins to the emerging DePIN sector. The author highlights how being early to trends, such as mining Bitcoin in its infancy, led to massive gains and believes DePIN offers similar potential. DePIN projects, like Hivemapper and Grass, allow for easy, passive mining without high computational costs, making them accessible to anyone.
The post provides a list of promising DePIN projects and encourages readers to build their own networks. The key takeaway is to stay adaptable, identify market shifts early, and capitalize on emerging opportunities.
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