Dubai: Crypto & Coffee at 8: 🚨 29th Sep 🚨 🔥 Stable Coins War! 🔴 Is CBDC a threat to Stablecoins? 👨🏼‍⚖️ Kevin O’Leary to launch Web3 in UAE & ⚡ CNBC Arabia’s ‘On the Chain’ show
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29th Sep 🔥 Stable Coins War! 🔴 Is Central Bank Digital Currency (CBDC) a threat to Stablecoins?

👀 2022: Stablecoins are proving to be a safe haven for the crypto markets’ price volatility. Two areas of concern observed in 2022 are ✋🏻 The 24-hour volume is extremely low ✋🏻 Stablecoins account for over 90% of the total crypto market 24-hour volume.

🚨 See slides 1 & 2 below for detailed information At Blockchain DXB we update & track this on a daily basis. Listen to our commentary on this via our podcast here : Anchor: https://bit.ly/3Po8eio Spotify: https://spoti.fi/3y3Fapq Google: https://bit.ly/3ysvrL0 Anghami: https://bit.ly/3AiLNp5

💡Binance BUSD 24hr volume is almost double of Circle USDC

❗Decrypt reported that Binance will no longer support competing stablecoins, including USDC, on its exchange. USDC’s market cap is down 5% since the announcement. According to Nansen. $26 billion worth of stablecoins were sitting on Binance’s exchange, Of that, $20 billion was in BUSD, with the rest in competing stablecoins: $683 million worth of USDC, $48 million USDP, and $283 million TUSD. The only other sizable stablecoin balance on Binance was $5 billion worth of Tether.to (USDT) Info here https://bit.ly/3frThzg The article also referred to the Blog earlier in the month where the mentioned Binance will Auto-Convert USDC, USDP, TUSD to BUSD https://bit.ly/3E52bx6

❓ Who wins the war on Stablecoins?

• Tether.to USDT
• Binance BUSD
• Circle USDC

⚠️ Will CBDC pose a threat to stablecoins? We at Blockchain DXB plan to have a two-part series in Oct exploring Stablecoins, its history, their use case, their notorious past, and The Good, Bad & ugly side of Stablecoins

🛑 In yesterday’s podcast, we also discussed Federal Reserve Board chair, Jerome Powell, about discussion paper earlier this year & the focus on CBDC in the next years would be

1. Intermediated
2. Privacy protected
3. Identity verified (Not Anonymous)
4. Transferrable or Interoperable

Question: ⚠️If CBDC were to open-source the code (Norway’s Central Bank) & implement Zero-knowledge proof. Do we need stablecoins?

👨🏼‍⚖️ Kevin O’Leary to launch Web3 fund with backing from UAE He plans to launch a fund called Cipher & he told Forkast.News Editor-in-Chief Angie Lau at the Converge22 on Wed in San Francisco. Official info here https://bit.ly/3SudIKM

👍🏻 Crypto.com receives regulatory approval in France Crypto.com registered as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF) — France) after clearance with the Autorité de contrôle prudentiel et de résolution (ACPR). They continue to actively grow & expand their ecosystem, with more than 50 million users worldwide. https://bit.ly/3dTPQB4

2 UAE news: (See slides ) ⚡ CNBC Arabia’s ‘On the Chain’ show showcases Dubai’s cutting-edge crypto influence Nikita Sachdev WEMADE Marwan Alzarouni ⚡ Chainalysis Inc. experts to discuss blockchain risks, opportunities and compliance at GITEX GLOBAL

For slides click here: https://bit.ly/3UHg3Do

LinkedIn Profile: https://bit.ly/3AAN504

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