In This Issue
- Lark & David shares their thoughts on Coinbase checking out the UAE, the UAE building Bitcoin mining facilities, Binance integrating the Lightning network, Cardano’s Hydra, fear in the markets, what Pepe taught us, Ethereum updates, Strip’s massive news & Curve’s stablecoin.
- This Week On Chain.
- Rekt Capital has the latest technical analysis for you on the market.
- This week’s trending coins by Rebecca.
- Erik has a report for you on BRC-20 tokens on Bitcoin.
- Defi Dad has a tutorial for you on how to earn up to 42% APR on a new Arbitrum DEX with stablecoin LPs on Chronos.
- Jesse has a ton of hot new airdrops for you.
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The News Now
Coinbase is Checking Out the UAE
Coinbase is considering the United Arab Emirates as its new international hub for operations.
Brian Armstrong, CEO of Coinbase, and other key members of his executive team are currently pounding the pavement in Dubai and Abu Dabai, meeting with top government officials and business leaders. Armstrong is also scheduled to give the keynote address at the inaugural Dubai FinTech Summit.
Coinbase’s VP of International & Business Development, Nana Murugesan, has been dropping updates over the past few days. On May 8th, he tweeted:
And in a May 7th blog post, Murugesan wrote, “[the UAE] serves as a particularly strategic bridge between Asia and Europe – two of our existing focus international regions to date [ . . . ] the vacuum created by other notable jurisdictions means that international counterparts, such as the UAE, are racing to fill the regulatory gap.”
The potential move to the UAE happens amidst a larger international pivot by the company. Coinbase’s International Exchange, a new derivative marketplace, was just launched in Bermuda. The company is expanding operations in Singapore, Canada, and Brazil. And Coinbase is talking with UK regulators about a potential move across the pond as well.
Here’s my take, two points.
- I’m sure Coinbase is seriously considering a move, but I think they’re also leveraging these talks to get what they really want in the USA. It’s a multi-pronged attack. Sue the SEC in court and apply pressure on the Biden White House with legitimate threats to bounce. Stifling innovation, killing jobs, and disincentivizing companies to stay isn’t a good look politically.
- This entire saga is just another data point for why governments can’t kill crypto, not even the Land of Freedom. Worst case scenario is the USA shoots itself in the foot while crypto flourishes in the many other jurisdictions hungry for innovation and capital investment.
UAE’s Sovereign Wealth Fund Incoming!
Here’s another UAE development that’s pretty damn big news.
Marathon Digital, the U.S. based bitcoin mining giant, has entered into a joint venture with Zero Two, an Abu Dhabi digital asset infrastructure company, to develop the Middle East’s first large-scale liquid cooled bitcoin mining operation.
And here’s the kicker. The entire project is backed by Abu Dhabi’s $850M sovereign wealth fund. Effectively,…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
