Abu Dhabi’s Financial Free Zone ADGM Proposes Legal Framework for DLT Markets

Abu Dhabi’s crypto and blockchain businesses are expected to grow exponentially and attract international investors, more so from the United States. The registration authority of Abu Dhabi Global Market (ADGM) has issued a consultation paper seeking feedback on its proposed new framework for distributed ledger technology (DLT) market and token issuance. The regulatory authority has … Read more

Saudi and Abu Dhabi Investors to Contribute to SpaceX New Funding

Following a signed agreement between SpaceX and NASA, the government agency is considering SpaceX as an emergency return option for the ISS crew.  Elon Musk’s SpaceX is about to receive financial backing from Saudi Arabia and Abu Dhabi investors in a new funding round. This follows an equity funding round in May 2022, which generated about … Read more

Alameda Research to Sell Sequoia Interest to Abu Dhabi Sovereign Wealth Fund for $45M in Cash

FTX’s sister trading firm Alameda has agreed to sell its interest in Sequoia Capital to a UAE-based entity.  Alameda Research appears set to sell its interest in Sequoia Capital to Abu Dhabi for $45 million. According to a recent report, the FTX sister trading firm agreed to sell the Sequoia stake to the Abu Dhabi sovereign wealth fund in … Read more

Abu Dhabi Starts $2 Billion Scheme to Support Local Web3 Startups

UAE megacity Abu Dhabi is beginning a well-funded initiative that would allow Web3 startups access vast resources for growth.  Abu Dhabi has launched a new $2 billion initiative to support the region’s Web3 and blockchain technology startups. According to reports, the United Arab Emirates city’s tech ecosystem, the Hub71+ Digital Assets ecosystem initiative, will also facilitate … Read more