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Published October 6, 2023

DUBAI, UAE / ACCESSWIRE / October 6, 2023 / Cryptocurrencies are here to stay, according to Bader Kalooti, Regional Director of Growth and Operations at Binance, the largest cryptocurrency in the world. "Web3 and blockchain have proven a powerful solution to drive efficiency, transfer value more effectively, and add a layer of trust, transparency, and immutability to any sector, not just finance. I am very bullish personally."

Kalooti was a guest on the MENA Surge Podcast hosted by Steven Besse on September 23, the ultimate source for all things Web3 and fintech related in the MENA region. The podcast is powered by Future Blockchain Summit taking place in Dubai Harbor from October 15 to 18, alongside Expand North Star and Fintech Surge and in association with GITEX GLOBAL.

"It has been very exciting to be part of that story and bring Web3 into MENA. And it is not just an element of copy and paste' anymore. It is a new paradigm whereby we are actually innovating a new technological trend from this region," said Kalooti.

A challenge in the cryptocurrency and Web3 space remains a lack of awareness and knowledge, which translates into skepticism and uncertainty on the part of many potential users. "With the emergence of any new technology, there is a tendency for it to be quite esoteric, meaning that a very small percentage of the population will relate to that new technology. Therefore, education plays an instrumental role to drive mass adoption," said Kalooti.

Binance recently launched a curated crash course called Blockchain for Everyone', translated into Arabic, that presents the fundamentals of Web3 in an easily digestible manner. Attendees who complete the course are presented with an NFT certificate.

Kalooti stressed it is important to distinguish between novice versus expert cryptocurrency users. Catering to both ends of the spectrum, Binance Light allows new users to be onboarded and navigate the product offering, while Binance Pro is a feature-rich platform catering for more sophisticated investors.

Looking at Dubai in particular and what has established it as the global crypto hub', Kalooti points to the global liquidity cycle as an important short-term driver. "That is highly volatile," he acknowledged. However, over the long term, it is driven by network adoption and regulations. An entrepreneur will come up with a new idea but have to establish a product market fit in an ambiguous environment where the rules are unclear, a typical Wild West' scenario. After a certain level of scale, the regulator steps in to play catch up and establish the rules of the game.

Far from replacing Web2, Kalooti emphasized that Web3 wields the benefits of blockchain to improve efficiency and productivity. "That is an area where we see a lot of opportunity for use cases. It is important to understand that young talent is flocking towards the space. And there is a lot of capital flowing back to those entrepreneurs. Eventually you will get those killer apps that come on chain and bring a wave of a billion plus users, very similar to what Instagram, Facebook, and YouTube did for Web2 in the mid-2000s."

Cryptocurrency adoption is currently at the same developmental phase as the internet was in 1999. The total market capitalisation of the cryptocurrency industry is around US$1 trillion, a third of the market capitalisation of Apple alone. "We are relatively still quite early in the journey. Just sit back and relax. I know it has been a turbulent ride. Fasten your seat belts because we will ultimately arrive at our intended destination," concluded Kalooti.

Future Blockchain Summit continues to cement its position as a leading platform for showcasing cutting-edge blockchain solutions. For more information about the upcoming event, visit: https://www.futureblockchainsummit.com/.

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SOURCE: Future Blockchain Summit

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Cryptocurrencies Are Here To Stay, Says Binance Measa Regional ... - Digital Journal

Photographer: Yuki Iwamura/Bloomberg via Getty Images

Its hard to imagine cryptocurrencys reputation sinking much further. Every day seems to bring a new reputational low.

In much-anticipated news, the trial of Sam Bankman-Fried, founder of onetime second largest crypto exchange FTX, starts today. Not coincidentally, that is also the date on which the new Michael Lewis book, Going Infinite, comes out. Weve been promised Going Infinite will explain the precipitous rise and perhaps even steeper fall of this characteristically slovenly tech founder.

The trial is going to be another whole matter.

Prosecutors and defense attorneys are expected to robustly exchange evidence well in advance of any major trial: There shouldnt be any real surprises for litigators when it comes to tangible evidence (although sometimes what comes out of a given witnesss mouth on the stand can be a shock compared to what theyve said previously).

The members of the public do not have such advance warning, however, and for us the trial is sure to be full of new revelations. (I understand Michael Lewis is also doing a podcast to supplement his book as the latest comes out during the trial.)

Many of these revelations will be entertaining, many of them will be deliciously salacious, but many of them will also substantively further batter the already ragged reputation of the cryptocurrency industry. It just doesnt seem there are very many people who are equipped to immediately notice or meaningfully disrupt it when a powerful person in this industry decides to start playing loose with vast sums of money.

Now word is breaking that onetime FTX rival Binance might also be in serious trouble. Binance is an even bigger crypto exchange than FTX was before it crumbled into bankruptcy. Last week, The Wall Street Journal published an article claiming that Binance was melting down, detailing reports of severe turmoil within the organization.

Among the major concerns at Binance are legal risks related to Russian sanctions and entanglements with financial regulators, according to the Journal. The company has been bleeding top executives and conducting large-scale layoffs, but one of the potentially insurmountable issues is what is to become of the most powerful Binance executive of them all.

Changpeng Zhao, or CZ to industry insiders, is the co-founder and CEO of Binance. He has often been described as bombastic. Binance and Zhao have been sued by the Securities and Exchange Commission and Commodity Futures Trading Commission for alleged wrongdoing that runs the gamut from lying to investors to ignoring financial regulations.

Calls have been arising from within Binance for CZ to step down, according to the Journal. (The company told the publication that customer money is safe and it is committed to compliance.)

Even if Binance can weather this latest storm, the chaos enveloping its CEO has shaken the entire cryptocurrency industry (again). Very similar things happened when FTX entered its final days as a going concern.

At this moment, the global cryptocurrency market cap is $1.12 trillion. That means there is way too much value (or perceived value) sitting around out there in the form of cryptocurrency for the idea of blockchain-based currencies to simply fade away overnight, irrespective of the scale of any single cryptocurrency catastrophe.

Yet, these latest problems are far from new in the crypto industry more like the continuation (or escalation) of a trend. Only time will tell how long investors will continue to put up with repeated thefts and problematic concentrations of power within the world of cryptocurrency. Apparently the well of cryptocurrency investor tolerance runs deep.

For now, I suppose we have a courtroom drama, and a different kind of drama over at Binance, to hold our attention for at least one more news cycle. Those who regularly follow the cryptocurrency industry will even have the rare privilege of seeing the notoriously rumpled Sam Bankman-Fried in a suit and tie, despite the fact that he will still be spending his evenings in jail during the trial.

My advice, though, would be to keep any serious money out of the market volcano that is these swirling cryptocurrency scandals. Instead, go ahead, indulge yourself, and enjoy the entertainment value of the drama for free.

Jonathan Wolf is a civil litigator and author ofYour Debt-Free JD(affiliate link). He has taught legal writing, written for a wide variety of publications, and made it both his business and his pleasure to be financially and scientifically literate. Any views he expresses are probably pure gold, but are nonetheless solely his own and should not be attributed to any organization with which he is affiliated. He wouldnt want to share the credit anyway. He can be reached atjon_wolf@hotmail.com.

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FTX Trial And Binance Turmoil Are Just The Latest Trouble For Crypto - Above the Law

Changpeng CZ Zhao, CEO of Binance, has announced that Binance Feed, a data channel of Binance, will soon be available for all content creators as all users can freely create content.

On Oct 4, Binance also posted on Twitter about its new tipping feature for its feed. With this feature, users can support their favorite feed creators by clicking on the tips icon under the post on Binance Feed.

Binance is currently upgrading its platform and repositioning some of the application icons. As a result, to access the feed section, users must navigate through the main page and scroll down until they reach the Discover section. Additionally, Binance is seeking user feedback and suggestions, so they have to go on their feedback portal.

Additionally, Binance said, If youre looking to access a specific service, dont hesitate to inform us. We constantly aim to refine our user interface to make your experience as effortless and intuitive as possible.

Also Read: Binance Unveils Trailing Up For Spot Grid Trading Bots

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Binance Feed Will Be Open To All Content Creators - Crypto Times

In this edition of PYMNTS Provider Rankings of Cryptocurrency Wallets, a few apps leap to new rankings, and a few apps fall short.

Blockchain Wallet, SafePal and Bitpay climb their way up the rankings to shake up the lineup. Lets see who else is making some noise.

No. 1 is now a tie between Trust Crypto and Bitcoin Wallet and Binance for a perfect score of 100.

Crypto.com is not far behind at No. 2 with a new score of 93.

No. 3 with four points more than last month is MetaMask Blockchain Wallet, scoring 80.

Blockchain Wallet climbs to a score of 79 and lands at No. 4.

No. 5 goes to Bitcoin Wallet, which gains two spots and scores 72.

No. 6 goes to Wirex Card and Multicurrency Crypto Wallet, which jumps two spots and scores 62.

SafePal Crypto Wallet advances to No. 7 from No. 10 and scores 53.

No. 8 is Exodus: Crypto Bitcoin Wallet, scoring 52 and falling two spots.

No. 9 is newcomer Bitpay with a score of 48.

Wrapping up the top 10 is ZenGo Crypto and Bitcoin Wallet: Buy, Earn and Trade with 36.

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Binance and Trust Battle for No.1 in Cryptocurrency Wallet Provider ... - PYMNTS.com

Binance Coin (BNB) is getting a lot of attention after CCIP launched on top of the BNB Chain for Developers. They can utilize it to realize the potential of cross-chain application design. In addition, Dogecoin (DOGE) is also in the green zone after a prolonged period of declining prices. However, the most gains are seen with Everlodge (ELDG), as analysts project a 35x climb in value. This upcoming real estate platform will make investments accessible to anyone.

Join the Everlodge presale and win a luxury holiday to the Maldives

Despite the recent major bear market, Dogecoin (DOGE) has been able to keep its position as a top 10 crypto. As the market approaches the years final quarter, the Dogecoin crypto is still going strong. The cryptocurrency managed to maintain a steady value.

It went from $0.060 to $0.062 during the past week alone, indicating that the Dogecoin volatility isnt too high. Dogecoin currently has a market cap of $8,807,918,393, with a trading volume of $138,523,028. Based on the current Dogecoin price prediction, it can surge to $0.098 by the end of 2023.

Binance Coin (BNB) is also getting investor appeal. The project introduced CCIP for the BNB Chain for developers to utilize. Now, they can integrate cross-chain application design. So far, numerous projects have already utilized this technology.

However, BNB as a cryptocurrency has also spiked in activity and value. During the past week alone, BNB traded between $208.08 at the low end and $216.78 at the high end. In addition, BNB increased in value by 2.6% during the previous week. However, BNB is still the 4th largest crypto, with a market cap of $33,242,661,778. Based on the current BNB price prediction, it can surge to $307.41 by the end of 2023.

Everlodge is an upcoming platform that will enable anyone to invest in luxury homes, villas, or other types of properties. Many investors are dreaming about owning luxury properties. The real estate market has historically provided solid returns.

But with most properties costing millions of dollars, it has been difficult. Now, Everlodge will change all of this. It will implement digitization and fractional ownership, making them available at $100.

Final Call for Everlodge Presale! Stage 4 is LIVE with a 15% BONUS! Already over 20% sold out! This is your last chance to grab $ELDG at presale prices. Act fast before 10/10/2023! Dont miss the future of property investment! https://t.co/SIYWBylwQD pic.twitter.com/BlmcRNAnUU

Investors can get a slice of the action, no matter their financial power. Integrating NFT technology is one of the key factors that have made this project so appealing.

Each property is minted, and the important info is stored within the metadata. At the center of it all is ELDG. Those holding it can stake it for passive income. During Stage 4, the cryptocurrency trades at $0.019. At launch, analysts project that it will grow in value by 35x.

Website: https://www.everlodge.io/

Telegram: https://t.me/everlodge

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Dogecoin Retains Top 10 Spot, But It is Everlodge and Binance ... - Analytics Insight