Dubai Crypto & Coffee at 8 ☕ 🚨 Dubai: 01st March 🚨 📛 Coinbase ❌ suspends Binance BUSD Stablecoin 🔥 Forbes article Binance’s asset shuffling similar FTX 🟠 NFTs on Bitcoin crosses 200,000
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01st March: Crypto & Coffee at 8

📛 Coinbase ❌ suspends Binance BUSD Stablecoin 🔥 Forbes article Binance’s asset shuffling similar FTX 🟠 NFTs on Bitcoin crosses 200,000

📛 Coinbase announced via Twitter that it will suspend trading of Binance USD (BUSD) starting March 13 on or around 12 pm ET, because the stablecoin doesn’t meet its listing standards. Official tweet here https://lnkd.in/djRiahyg

📊 The 24hr trading volume hasn’t been affected but the Market cap is down to $10.5B Circle USDC volume is almost 4 times higher but the volume is less than half. See slide 2 where we explore this in detail & check out Blockchain DXB podcast where we share our thoughts & opinions on this Link for the podcast here

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🥊 Who wins the war on Stablecoins?

• Tether.to USDT

• Circle USDC

• Binance BUSD

❓ How will stablecoins react once CBDC gets mainstream?

⚖️ Forbes article here states that Binance’s asset shuffling is eerily similar to manoeuvres by FTX. The article here claims Binance moved $1.8B in Stablecoin collateral to Hedge Funds last year, which means that over $1 billion worth of tokens called B-peg USDC digital replicas of dollar-pegged stablecoin USDC were uncollateralized despite Binance’s claim that they were 100% backed. Info here https://lnkd.in/d8KP3nEm

👁️ Binance CEO Changpeng Zhao has tweeted that Binance implemented proof-of-reserves using a new zero-knowledge (ZK) approach (suggested by Vitalik), protecting our users’ security and privacy. Series of threads here https://lnkd.in/dtfCmVH7 He also tweeted They (Forbes) seem to not understand the basics of how an exchange works.

🏦 Bank of England is not ready for CBDC yet❗

Cointelegraph article has reported that BoE deputy governor Jon Cunliffe has said There is more than a 50% chance that the central bank of the United Kingdom would issue a CBDC, but the regulator doesn’t have the technical skills to issue a digital currency yet. Article here https://lnkd.in/dTs4WMsm

🟧 Bitcoin-Based NFTs Cross 200,000 Ordinal Inscriptions❗

On Monday, Feb. 27, 2023, the number of Ordinal inscriptions on the Bitcoin blockchain crossed 200,000 at 1:02 p.m. Eastern Time. In addition to the 200,000 inscriptions,Yuga Labs, creators of the Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs), revealed that the team had created a collection of 300 generative ordinal NFTs called Twelvefold. Detailed Information via Bitcoin.com here https://lnkd.in/d5GraCPe

🔴 Two UAE News: (See slides )

⚡ UAE emirate Ras Al Khaimah Economic Zone (RAKEZ) to launch a free zone for digital and virtual asset firms

⚡ MENA tops the world in crypto adoption source via Zawya

For slides click here: https://tinyurl.com/2p444r3z

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