Abu Dhabi Firms Launch Investment Fund to Tokenize U.S. Treasury Bill ETFs

November 1, 2024 Bitcoin.com

Iota’s ShimmerEVM joins Fireblocks, targets demand for assets tokenization

December 13, 2023 Coin Telegraph

Crypto Biz: UAE’s regulatory structure draws crypto firms, Canaan’s revenue slumps, and more

December 3, 2023 Coin Telegraph

Canaan

The United Arab Emirates increasingly attracts Web3 companies to its jurisdictions, becoming the center of global crypto innovation.

Behind the wave of companies moving or deploying initiatives in the UAE is regulation. The country has introduced regulatory frameworks for decentralized autonomous organizations (DAOs), virtual asset providers, metaverses and other Web3-related entities.

By offering regulatory clarity and a clear path to compliance — amid a crackdown in the United States — the UAE is moving closer to fulfilling what it wants to be: an international financial hub for digital assets.

While predictions about how it will affect the future of the UAE or the crypto space itself vary, history shows how countries have used regulatory gaps to build new industries or curb existing ones.

This week’s Crypto Biz also explores Canaan’s revenue challenges, Wormhole’s massive fundraising and Banco Santander’s crypto moves.

Iota launches $100 million Abu Dhabi foundation for Middle East expansion

Open-source blockchain developer Iota announced the launch of the Iota Ecosystem DLT Foundation in Abu Dhabi, which is dedicated to expanding its distributed ledger technology (DLT) in the Middle East.

Native Asset for Internet of Things Project Jumps by 31% This Week Amid Launch of $100,000,000 Ecosystem Foundation

December 3, 2023 The Daily Hodl

IOTA makes 40%+ move after $100M ecosystem foundation announcement

November 30, 2023 Coin Telegraph

IOTA makes 40%+ move after 0M ecosystem foundation announcement

Altcoin Watch

IOTA price saw a high volume surge that took the altcoin to a near 1-year high, but are there reasons to support further upside?

IOTA, an open-source distributed ledger and cryptocurrency focused on the Internet of Things (IOT), saw its native IOTA token rally 43% on Nov.

According to a press release from the project, the foundation will be seeded with $100 million in IOTA tokens, which will be vested over a four-year period and traders clearly perceived the announcement and funding plan as a short-term bullish catalyst.

Historically, ecosystem and developer incentives by blockchain and DeFi protocols tend to attract liquidity to the project and boost market participants sentiment.

In August 2021, Avalanche’s AVAX token went on a 1,400% tear after the announcement of the Avalanche Rush DeFi incentive program.

A similar outcome was seen with Trader Joe’s JOE token in the months following December 2022 after the DeFi protocol announced plans to establish a presence on Arbitrum.

Currently, the Arbitrum ecosystem is hosting liquidity and developer incentives and these initiatives align with the recent 62% resurgence in ARB token price.

Was IOTA’s price move another sell-the-news event?

On Nov.

$IOTA

Funding Rate and Long/Short ratio at historical low! pic.twitter.com/wloZNoLMxu
— Coinalyze (@coinalyzetool) November 30, 2023

Traders often interpret funding rates and longs-to-shorts ratios as sentiment gauges and indicators of how active investors are positioned.

IOTA launches $100 million Abu Dhabi foundation for Middle East expansion

November 29, 2023 Coin Telegraph

IOTA launches 0 million Abu Dhabi foundation for Middle East expansion

Coin Telegraph

The IOTA Ecosystem DLT Foundation is the first to receive approval from regulators in Abu Dhabi after its financial authority passed a new, related law earlier in the month.

The open-source blockchain developer IOTA announced on Nov. 29 that it is launching a foundation, the IOTA Ecosystem DLT Foundation, based in Abu Dhabi to focus on the growth of its distributed ledger technology (DLT) in the Middle East region.

According to the announcement, the new foundation will be supported by $100 million IOTA digital tokens, which will be vested throughout the course of the next four years.

One of the primary goals of the foundation is to push for accelerated growth of its DLT and “convert real-world assets into digital ones” according to the company’s co-founder and chairman Dominik Schiener.

"The market right now is being reshuffled so we have a big opportunity to position ourselves by focusing on onboarding institutions, offering them to work on-chain because now it's more feasible to do that in the UAE.”

In addition to growing its technology to support developments in the Middle East region, the network will begin “tokenizing” assets.

Hamad Sayah Al Mazrouei, the chief executive of the Registration Authority of the Abu Dhabi Global Market (ADGM), said the country aims to be “the leading jurisdiction for the blockchain industry."

The IOTA Ecosystem DLT Foundation became among the first blockchain-focused organizations to be approved by regulators from the ADGM.

This development comes less than a month after ADGM introduced comprehensive regulations on Nov. 2 targeting DLT foundations like IOTA. The regulations claim to provide opportunities for organizations to expand into DLT in the region.

According to the new regulations, compliance includes disclosing names of key figures, having a name that ends with “DLT Foundation,” a council consisting of two and 16 members, tokenholders being treated as beneficiaries, and not being allowed to conduct activities licensable by the ADGM.

This new framework also paves the ways for DAOs to legally operate and issue tokens to its members.

Magazine: This is your brain on crypto: Substance abuse grows among crypto traders

Whale Activity in Dogecoin and Two Ethereum-Based Altcoins Is Heating Up, According to Analytics Firm Santiment

July 21, 2022 The Daily Hodl

Iota Foundation joins Dell to develop real-time carbon footprint tracking

June 7, 2022 Coin Telegraph

Coin Telegraph

The Iota Foundation joined Dell along with ClimateCHECK and BioE to fight climate change using real-time carbon footprint data.

Iota Foundation, a non-profit distributed ledger technology ecosystem provider, partnered with tech giant Dell Technologies to develop a data-driven solution for the real-time tracking of carbon footprints.

Edge solutions from Dell Technologies announced the onboarding of Iota, climate-change-focused technology company ClimateCHECK, and BioE, to develop a solution on top of Dell’s in-house initiatives: Data Confidence Fabric (DCF) and Project Alvarium.

We've partnered w/ @Iota, BioE, & @ClimateCHECK to develop real-time carbon footprint tracking through a #data confidence fabric!

Hear how #ProjectAlvarium accurately tracks carbon footprints w/ #DellTech Edge solutions.

https://t.co/u5CxmbMBAL @Intel #IOTA #Sustainability pic.twitter.com/52RENnEW3X
— Dell Edge & Telecom (@Dell_Edge) June 6, 2022

Iota has been an active participant in Project Alvarium, which was first conceptualized by Dell Technologies in 2019 to utilize vetted data from the DFC or “trust fabric” across heterogeneous systems. Matthew Yarger, head of sustainability at the Iota Foundation, stated:

“Transparency and trust in data is paramount for addressing the global issues of climate change and transitioning to climate action.”

Sharing details about the initiative, Yarger explained that the four companies together developed an integrated digital measurement, reporting and verification (MRV) tool.

In conjunction with Project Alvarium, the digital MRV can pick up data from sensors and manual input and process it through Dell PowerEdge servers to ultimately deliver near real-time insights into the carbon footprints of BioE’s sustainable energy and composting facility. Yarger added:

“We’re now able to track and verify data around climate change and how we’re actively trying to address it at a level that’s never been achieved before.”

KenGen, an energy company from Kenya recently invited Bitcoin (BTC) miners to run their operations using its renewable power capacity.

As Cointelegraph reported, KenGen generates 86% of its energy through renewable geothermal sources. Local reports suggest that KenGen plans to rent out space from its Olkaria facility, situated at a volcanic site.

The acting director of geothermal development at KenGen, Peketsa Mwangi, too confirmed the company’s intent to host Bitcoin miners in Kenya:

“We’ll have them here because we have the space and the power is near, which helps with stability.”

Panama Lawmakers Pass Bill That Will Regulate Bitcoin (BTC) and Eight Other Cryptos

April 30, 2022 The Daily Hodl

Iota selected for Phase 2A of EU blockchain initiative

January 13, 2022 Coin Telegraph

Blockchain

In the coming months, Iota plans to pilot product passports for digital waste recycling and the cross-border management of intellectual property rights for artists' creative work.

On Thursday, the Iota Foundation, which oversees developments in the namesake Internet-of-Things transactions blockchain (IOTA), announced that it had been selected as one of five contractors by the European Commission to develop blockchain and distributed ledger technology in the region. According to the announcement, phase 2A aims to advance European Blockchain Services Infrastructure, or EBSI, in five areas:

It will investigate the feasibility of sharding as to exponentially scale the Iota network on EBSI.
Develop an approval weight consensus mechanism that will be highly flexible and allow both permissionless and permissioned use cases.
Ensure any Iota-based solution for cross-border transfers abides by EBSI governance structures and any regulatory requirements from EU member states.
Integrate its GDPR-compliant identity solution with the new framework for EU digital identity on EBSI.
Prepare on and off-chain bridges to other protocols in and outside EBSI, including support for Ethereum Virtual Machine.

Based on the results of the phase 2A development over the next six months, a minimum of three out of five contractors will be chosen to advance to the next stage, where the European Commission will field-test the capabilities of the newly developed infrastructure and applications. Last September, Iota was one of seven enterprises chosen to support the early-stage innovation of the said European blockchain venture. With its signature decentralized acrylic graphs, the Iota blockchain is known for very little energy consumption and no gas fees. Previously, Assembly, a decentralized layer one smart contract network built within the Iota ecosystem, announced a $100 million capital raise from private investors while receiving praise from Dominik Schiener, Iota Foundation's co-founder and chairman.

IOTA

Iota launches $100 million Abu Dhabi foundation for Middle East expansion

Was IOTA’s price move another sell-the-news event?

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