Cryptoverse Warsaw will step into the future of Blockchain and crypto

Cryptoverse Warsaw will step into the future of Blockchain and crypto

Cryotoverse Warsaw has announced its upcoming conference on May 21-22, in WarSaw Poland. The organizers will step into the Future of Blockchain & Crypto.
The Cryptoverse Warsaw Conference is a meeting place of innovation, technology and vision with more than 80+ world class speakers that include the COO of BlackRock Rob Goldstein, Paolo Ardoino, CTO of Tether and Bitfinex, Cathie Wood, CEO of Ark Invest, Tim Draper, Founder of Draper Associates, Gavin Wood, Founder of Polkadot, Jeremy Allaire, CEO of Circle, John Wi President of Avalanche, and Raul Pal CEO of Real Vision among many others.

More than 2,000 professional will converge to discuss Blockchain’s Future and global trends, tokenization of real world assets, AI’s role in cryptocurrency and various other topics.

Cryptoverse is one of the biggest blockchain and crypto conferences in Europe which commenced in 2021.

Dubai crypto regulator monitoring and tracking Bybit hack situation

Dubai crypto regulator monitoring and tracking Bybit hack situation

Dubai Virtual Assets Regulatory Authority has confirmed to Lara on the Block that they are actively monitoring the ByBit hack situation as the matter evolves and are closely tracking it until it stabilizes. The statement was made after Bybit, the second largest crypto exchange globally was hacked on February 21st 2025, losing $1.4 billion in Eth.

As per Bybit, whose headquarters are based in Dubai UAE, the exchange detected unauthorized activity within one of their Ethereum (ETH) Cold Wallets during a routine transfer process. The transfer was part of a scheduled move of ETH from their ETH Multisig Cold Wallet to their Hot Wallet. Unfortunately, the transaction was manipulated by a sophisticated attack that altered the smart contract logic and masked the signing interface, enabling the attacker to gain control of the ETH Cold Wallet. As a result, over 400,000 ETH and stETH worth more than $1.5 billion were transferred to an unidentified address.

It was later found that the Lazarus Group out of North Korea were responsible, and since then have been transferring ETH to new addresses through ChainFlip.

VARA spokesperson told Lara on the Block, ” Bybit has not been granted a regulatory licence under VARA, and is currently working towards fulfilling the stringent licensing requirements to secure a VASP operating permit in Dubai. As part of VARA’s rigorous due diligence, we have been actively monitoring the situation since the hack on ByBit was confirmed last night – this remains a highly evolving matter that we will continue to closely track until it stabilizes.”

Bybit headquartered in Dubai UAE

Bybit had set up its headquarters in Dubai UAE back in 2023, citing it as one of the most progressive crypto jurisdictions. The crypto exchange then received its in-principle license in September 2024 and is still in the process of receiving its full license. Bybit has been very active in the UAE partnering and working with entities to increase crypto awareness and investments in the ecosystem.

Bybit in turmoil after $1.4 billion hack

The Bybit hack is the biggest loss in the entire history of crypto exchanges. The exchange lost 400,000 ETH and stETH worth more than $1.5 billion. What is more interesting is since the hack the exchange has seen withdrawals of more than $5 billion. According to Bybit CEO Zhou speaking in an X space, ” Fortunately the company’s assets are far greater than $1.5 billion, there is a cold wallet in safe with nearly $3 billion in USDT, and fortunately this has not been stolen.” He adds though that, “if more than $10 billion was stolen, it might be necessary to consider selling the company.”

Cryptocurrency exchange Bybit has maintained reserves exceeding its liabilities despite suffering a $1.4 billion hack and an overall $5.3 billion decline in total assets, according to DefiLlama data. Bybit processed more than 350,000 withdrawal requests within 10 hours, completing 99.9% of them by 1:45 am UTC, Bybit co-founder and CEO Ben Zhou noted.

“Although we have been hit by the worst hack possibly in the history of any medians (banks, crypto, finance), But all Bybit functions and product remain functional, the Whole team had been awake all night to process and answer client questions and concerns,” Zhou wrote.

One of the exchange updates stated that they had reported the case to the appropriate authorities, and have worked quickly with on chain analytics such as Chainanalysis, and Hacken to identify and demix the implicated addresses.

Global crypto community shows solidarity with Bybit

In a show of solidarity, other crypto exchanges such as Bitget, Binance, OKX, and even some Chinese cryptocurrency leaders are actively transferring ETH to Bybit to support its liquidity. Even Huobi co-founder Du Jun deposited 10,000 ETH to Bybit as well as founders of Conflux and Mask Network.

In a recent Xpost Zhou also thanked MEXC, Solana, TON, Blockchain UAE, Ghaf Capital in UAE as well as Tether and Galaxy Digital among others.

Additionally according to Ethescan, the Mantle powered mETH Protocol has salvaged 15,000 cmETH from Bybit Exploiters worth about $2.76 million.

Updated at 8:00 pm Dubai UAE time

Bahrain and Malaysia to cooperate on crypto sandbox

Bahrain and Malaysia to cooperate on crypto sandbox

In a recent official visit by Malaysia’s Prime Minister Datuk Seri Anwar to Bahrain where he met with Bahrain’s Minister of Finance and Economy Shaikh Salman Bin Khalifa Al Khalifa to Malaysia, discussions on cooperating when it comes to cryptocurrencies and fintech were revealed.

As per Malaysia’s Prime Minister Datuk Seri Anwar both Malaysia and Bahrain are committed to strengthening their economies including areas related to cryptocurrencies and a potential sandbox platform.

“In addition, we also discussed cooperation in tourism, the connectivity between Kuala Lumpur and Manama, as well as in the manufacturing sector,” he said in a statement today.

Anwar said that Bahrain had also expressed its commitment to the success of the Asean-Gulf Cooperation Council (GCC) Summit and the Asean-GCC+China Summit, which will be attended by Crown Prince and Prime Minister Sheikh Salman Hamad al-Khalifa.

Malaysia discussed crypto regulatory frameworks with Binance and UAE as well

Earlier in January 2025, Malaysia’s Prime Minister Datuk Seri Anwar Ibrahim met with Binance founder Changpeng Zhao and UAE officials to discuss potential crypto regulatory frameworks. The discussions, which took place during Anwar’s three-day official visit to Abu Dhabi, centered on establishing policies that could recognize the crypto industry and modernize Malaysia’s financial system.

As noted at the time, Ibrahim stated, “I had lengthy discussions with the Abu Dhabi leadership and Changpeng Zhao, co-founder of the world’s largest cryptocurrency platform, Binance,” Anwar said, adding that he has urged the central bank and Treasury to study digital finance to avoid being left behind and protect the public interest.”

UAE policymakers expressed willingness to collaborate with Malaysia in developing its crypto regulatory approach.

Bahrain one of leading crypto regulated MENA countries

Bahrain was one of the first countries in the Middle East and Gulf to regulate cryptocurrencies through its Central Bank. It also launched a crypto sandbox and has since licensed several crypto exchanges including Binance, Crypto.com, CoinMENA, RAIN, BitOasis and others.

It is currently working on its stablecoin regulations as well as researching CBDC implementations.

Crypto Regulations in Malaysia need further development

Malaysia considers crypto as securities and are traded as such in the country, however The Central Bank of Malaysia Act establishes the ringgit as the country’s sole legal tender, effectively excluding cryptocurrencies from this status. Oversight of cryptocurrencies is shared between Bank Negara Malaysia and the Securities Commission. The central bank handles general crypto matters, while the securities regulator regulates digital currencies classified as securities.

Yet their crypto regulations still lack transparency and consistency.

There have been calls from within the government to adopt a more progressive stance towards cryptocurrencies. In March 2022, Zahidi Zainul Abidin, the deputy minister of the Communications and Multimedia Ministry, suggested that Malaysia should adopt bitcoin and other cryptocurrencies as legal tender. “We hope the government can allow this,” Zahidi said in Parliament, according to Bloomberg.

Additionally, religious authorities in Malaysia, such as the Shariah Advisory Council of the Securities Commission, have recognized digital currencies as a form of property from an Islamic perspective, further legitimizing their use within the country’s predominantly Muslim society, according to a study published in the Journal of Fatwa and Falak Selangor.

Still Malaysia faces one major issue with crypto and that is illegal crypto mining. stimates from the Deputy Energy Minister put the cost of this illegal activity at roughly $723 million in stolen electricity between 2018 and 2023.

UAE based MANSA raises $10 million led by Tether

UAE based MANSA raises $10 million led by Tether

UAE based MANSA, a fintech innovator in cross-border payments, has raised $10 million in its recent funding round led by Tether, the creator of USDT stablecoin. MANSA aims to alleviate liquidity challenges for payment companies worldwide.

The company’s stablecoin-based solution offers payment providers in emerging and mature markets a flexible and reliable way to manage liquidity challenges in cross-border payments.

MANSA raised $3 million in a pre-seed funding round led by Tether and co-led by Polymorphic Capital with participation from other prominent investors, including Octerra Capital, Faculty Group, and Trive Digital. The fintech company has secured an additional $7 million in liquidity funding from institutions, including corporate investors, quantitative funds, and alternative investment firms.

As per the press release the funds will support the company’s further market expansion into Latin America and Southeast Asia, alongside the rollout of bespoke liquidity and ancillary solutions tailored to address complex cross-border payments needs.

“Securing $10 million in pre-seed and liquidity funding marks a significant milestone in our mission to transform the way money moves. By bringing payments on-chain and leveraging efficient liquidity solutions, we are addressing critical challenges in cross-border transactions—making payments faster, cheaper, and more reliable worldwide” said Mouloukou Sanoh, CEO and Co-Founder of MANSA. “This funding accelerates our global expansion, enabling us to empower payment companies with seamless, real-time settlement infrastructure and drive the future of payments”

Since its launch in August 2024, MANSA has gained traction by building partnerships with major payment companies across Africa, Asia, and South America. These strategic alliances have contributed to the proliferation of its instant liquidity solutions, resulting in $27 million in transaction volume to date, with nearly $11 million in on-chain transaction volume in January – reflecting a 574% growth from August 2024. MANSA leverages stablecoins, thereby reducing settlement delays and transaction costs, and giving payment providers the resources to scale their operations efficiently.

“MANSA’s vision for addressing liquidity challenges in cross-border payments aligns with our mission to create a more efficient and inclusive financial system. By leveraging USDT for real-time settlements and instant payouts, MANSA is solving critical pain points for payment companies operating in emerging markets. We are proud to collaborate with MANSA and support their efforts to reshape global payment infrastructure.” said Paolo Ardoino, CEO of Tether.

The newly secured funds will be instrumental in its strategic expansion into Latin America and Southeast Asia – regions where liquidity challenges hinder cross-border transactions. It intends to expand its reach and influence by enabling faster, more affordable payment solutions through scaling its liquidity infrastructure and developing strategic partnerships.

“Mansa is here to disrupt a massive traditional market with blockchain and the Web3 paradigm. Polymorphic supports extraordinary founders. The Mansa team is up to this incredible challenge. stated Vitaly Spassky, Managing Partner, Polymorphic Capital

“We invested in MANSA because of their bold, diverse, high-caliber team of visionary founders addressing critical challenges faced by payments companies in Emerging Markets. We firmly believe that decentralized finance and asset tokenization are game-changing frontier technologies. With immense market potential in emerging economies, MANSA is uniquely positioned to drive transformative impact and bridge the credit gap across Africa.” added, Ashim Egunjobi, Managing Partner, Octerra Capital

UAE investors and consumers warned about memecoins by Dubai regulator VARA

UAE investors and consumers warned about memecoins by Dubai regulator VARA

UAE investors and consumers were officially warned about investing in memecoins by Dubai’s Virtual Assets Regulatory Authority (VARA) given the risks associated with advertisements promoting subscriptions to memecoins.

The UAE virtual asset regulator noted that memecoins are unregulated and highly risky in nature. The crypto regulator noted memecoins are highly speculative and volatile assets, frequently subject to market manipulation.

The regulator also stated that these memecoins lack intrinsic value and derive their pricing from social media trends, hype or misleading promotional strategies.

As such investors should exercise caution when presented with claims of unrealistic returns, as these often indicate fraudulent schemes.
There is a risk of significant financial loss within short timeframes due to price collapses, liquidity shortages, or scams.

Moreover VARA added that any virtual asset issuance from Dubai must ensure adherence with VARA Regulations and Rulebooks.
Any promotion, advertising, or solicitation of virtual assets must adhere to VARA’s Marketing Regulations.
Entities engaging in unauthorized virtual asset activities may be subject to enforcement action.

These memecoin platform may also be restricted without prior notice.

Aston Martin Aramco announces Coinbase as official crypto partner

Aston Martin Aramco announces Coinbase as official crypto partner

Aston Martin Aramco has partnered with Coinbase crypto exchange, paid entirely in cryptocurrency, making Coinbase their Official Crypto Partner.
As per Aston Martin Aramco’s announcement, the multi-year partnership aims to amplify Coinbase’s mission of demonstrating crypto as a key to greater economic freedom globally. It will also communicate Coinbase’s aim to make it easy for anyone to engage with cryptocurrency.

The Aston Martin Aramco, the partnership will be paid entirely in USDC, a stable digital currency designed to be pegged 1:1 to the U.S. dollar. This marks the first time any Formula One team has publicly announced the full payment of a partnership with a stablecoin like USDC.

As part of the partnership, Aston Martin Aramco will explore bringing fan engagement opportunities onchain.

Coinbase branding will debut on the halo and rear-wing end plate of the AMR25 throughout the season, as well as on drivers Fernando Alonso and Lance Stroll’s racing suits.

Jefferson Slack, Managing Director of Commercial, Aston Martin Aramco Formula One Team, stated, “This partnership shows the trust and confidence we place in Coinbase’s expertise as a leader in digital finance. By transacting this deal fully in USDC, we’re signalling our commitment to innovation, building a sustainable, forward-thinking relationship with Coinbase.”

Gary Sun, Vice President, Marketing, Coinbase added, “This is a huge milestone for Coinbase, marking the first time we’ve invested in a sports partnership entirely in cryptocurrency. It is also our debut in Formula One, and we are excited to embrace an industry that equally values pushing the boundaries with transformative ideas and technology. We look forward to building on this collaboration with Aston Martin Aramco as we strive for greater economic freedom globally

Bahrain Minister of Finance says Bahrain is in the midst of issuing stablecoin regulations

Bahrain Minister of Finance says Bahrain is in the midst of issuing stablecoin regulations

Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa noted the Central Bank of Bahrain (CBB) is in the midst of finalizing regulations to govern the issuance of stablecoins.

“These assets are expected to accelerate financial transactions, reduce costs, and expand accessibility, particularly for international transactions, thereby enhancing and supporting trade,” he said responding to a question by MP Hesham Al Ashiri on cryptocurrencies.

“The CBB is currently assessing the feasibility and effectiveness of using crypto assets in payments to improve the efficiency of existing systems,” he added.

“Before issuing any new laws or regulations, the bank ensures the release of consultation papers to gather feedback from stakeholders in the sector to ensure that the proposed regulatory requirements can be effectively implemented without hindering growth and innovation,” the minister stressed.

“The bank actively monitors the cryptocurrency market in Bahrain to mitigate potential risks, ensure economic stability, and provide the highest levels of protection for investors. To achieve this, licensed service providers are required to comply with various regulatory requirements, implement effective policies and systems for service delivery, and submit periodic reports, including details of executed transactions,” he said.

The minister also highlighted that having a crypto regulatory framework has strengthened Bahrain’s position as a leading regional hub for the digital economy and cryptocurrency sector.

The Central Bank of Bahrain had announced back in December 2024 that they were studying how the banking sector could offer stablecoins.

CoinMENA launches Bitcoin campaign in MENA

CoinMENA launches Bitcoin campaign in MENA

CoinMENA, a regulated crypto trading platform in the UAE and Bahrain, serving the MENA region, has launched an innovative crypto campaign “Your Future, Your Choice” Partnering with creative agency Bigsea, the campaign uses sharp satire to critique today’s harsh economic realities.
The crypto exchange‘s bold approach addresses two universal challenges: rising living costs and the struggle to grow savings. Through two short films, the campaign humorously highlights modern-day financial struggles with relatable scenarios and a touch of mobster menace.


The films utilize metaphors for painfully familiar scenarios. In the first film, a young man looking to pay his rent is strongarmed by mobsters into emptying his wallet, a situation many can relate to as rent prices rise year after year. In the second film, the same man tries to grow his savings, only to watch helplessly as a mobster clerk and his gang pocket his hard-earned cash, leaving
him with a single coin in “interest.” The scene cleverly reflects how difficult it is for the average person to grow their savings.


Enter Bitcoin, Enter CoinMENA


The campaign flips the script with a call to action: “Don’t get bullied by inflation” and “Don’t get bullied for wanting more.” Instead of settling for the status quo, CoinMENA positions Bitcoin as a reliable alternative, one that protects against inflation and serves as the best
savings vehicle in the digital era.


Founders Dina Sam’an and Talal Tabbaa highlight the bold vision behind the campaign, “We wanted to tell it like it is. Bitcoin is humanity’s first purposefully engineered money, designed to preserve and appreciate in value, unlike fiat money, which is designed to
depreciate and lose value continuously. It represents hope for everyone struggling with the rising cost of living, offering an alternative way to save your time and energy.”

Serge Asaad, CEO of Bigsea, explains the creative inspiration stating, “This campaign is about giving people a moment of realization, that the ‘old way’ is not working out for them. CoinMENA offers not just an alternative, but a real sense of control and optimism
for the future. That’s where the satire comes in: we wanted to make people laugh, then think, and ultimately act.”


CoinMENA’s films deliver a simple yet powerful message: when rising living costs and the struggle to save leave you feeling powerless, choose Bitcoin with CoinMENA and take back control. As the signoff powerfully states: “Your Future, Your Choice.”

UAE Ministry of Interior and Dubai Virtual Asset Regulator to combat virtual asset crimes

UAE Ministry of Interior and Dubai Virtual Asset Regulator to combat virtual asset crimes

The Ministry of Interior have teamed up with Dubai’s Virtual Asset Regulatory Authority to collaborate for combating virtual asset financial crimes.

As per the press release, this agreement highlights the UAE’s commitment to safeguarding its financial system while fostering leadership in the digital economy.

The MoU aims to unify efforts in information sharing on virtual asset service providers, illicit transactions, and unlawful practices. By facilitating a rapid and secure exchange of data between VARA and the Ministry of Interior, the agreement ensures that the virtual assets sector in the UAE remains secure, innovative, and aligned with international standards.

As part of the collaboration, both entities will develop joint training programs, specialized task forces, and electronic platforms to monitor and detect suspicious activities. These initiatives aim to strengthen the regulatory framework, ensuring that only compliant virtual asset service providers operate in Dubai, thereby enhancing financial system integrity and consumer confidence.

Consumer protection is high up the list for both the UAE Ministry of Interior and VARA as is the combatting of money laundering efforts, and maintaining financial stability in the UAE.

Major General Khalifa Hareb Al Khaili, Undersecretary of the Ministry of Interior, emphasized the Ministry’s dedication to integrated collaboration with national institutions to enhance security and deliver services that reflect the UAE government’s vision and global standing. He highlighted the importance of institutional cooperation to achieve shared strategic goals and develop a robust regulatory framework.

This MoU marks a significant milestone in our collective mission to build a secure and well-regulated virtual assets ecosystem, said Matthew White, CEO of the Virtual Assets Regulatory Authority. By deepening our collaboration with the Ministry of Interior, we are reinforcing measures to detect and prevent financial crimes in the virtual assets space. This partnership ensures that Dubai continues to lead by example fostering innovation while safeguarding the integrity of the emirate’s financial ecosystem. Through this collaboration, we are not only enhancing the security of virtual assets but also cementing Dubai’s position as a global hub for responsible digital finance.

During the years between 2022 and 2024 Dubai Police revealed that they had conducted money laundering financial investigation cases including $16.3 million ( 60 million AED) in virtual assets, or crypto asset cases. This did not include a case where The Dubai Economic Security Center disrupted a $49 million crypto money laundering operation. Both investigations led to a total of $65.3 million crypto money laundering investigation cases.

BitGo receives crypto custodial in-principle approval from Dubai regulator

BitGo receives crypto custodial in-principle approval from Dubai regulator

BitGo, a digital asset solutions provider offering crypto custody, and trading services has received its crypto custodial license from Dubai’s Virtual Assets Regulatory Authority (VARA). BitGo Custody MENA FZE, has received an in-principle approval (IPA) for a Virtual Assets Service Provider (VASP) license to provide custody services. This IPA marks a significant expansion of BitGo’s world-class suite of regulatory compliant custody services to leading financial markets around the world.

As per the press release, once fully approved and licensed, BitGo Custody MENA FZE will be able to offer its secure and efficient cold storage custody services to qualified and institutional investors in Dubai. 

Ben Choy, General Manager of BitGo MENA, said, “Dubai has cemented itself as a central hub within the digital asset ecosystem and we are excited to play an important role in its growth.This IPA marks a significant milestone in our journey and we are confident that BitGo’s innovative custody services will address the sophisticated needs of the market and will help deliver meaningful value to our clients.”

BitGo’s commitment to security and compliance aligns with VARA’s comprehensive regulatory framework, which is designed to protect investors and ensure market integrity. VARA’s forward thinking and innovative frameworks have positioned Dubai as the ideal choice for BitGo’s expansion into the region. 

Bitgo is one of eight virtual asset service providers currently holding in-principle approvals from Dubai’s regulator. Currently Zand Bank, Komainu, and HexTrust hold regulated licenses.