Is an AI advance chipmaking deal on the near horizon in UAE?

Is an AI advance chipmaking deal on the near horizon in UAE?

H.H Tahnoon Bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and National Security advisor, as well as the son of Zayed bin Sultan Al Nahyan, the founder of the United Arab Emirates has been continuously busy meeting with top governmental officials as well as technology CEOs as he ramps up the Artificial Intelligence future of the UAE. Most of his meetings usually culminate in high level investments or announcements, so his recent meeting with the chairman of AMD and White House senior advisor for AI and crypto could mean something big is coming soon.

In less than three months, H.H. Al Nahyan has met three times with David Sacks, the White House Senior Advisor for AI and Crypto. In his third meeting on May 11th, the pair discussed strengthening bilateral cooperation in AI Innovation. H.H. Al Nahyan noted, ” Our discussion reflects the ongoing momentum in UAE-USA economic relations, where collaboration in advances technologies serves as a cornerstone for building smart sustainable digital future.”

Prior to that during his second meeting in the USA coincided with his official visit to Washington, where he met with US President Donald Trump, along with several senior officials and global business leaders including The visit included meetings with US Secretary of Commerce Howard Lutnick, Secretary of the Treasury Scott Bessent, National Security Advisor Michael Waltz, CIA Director John Ratcliffe, and Special Advisor on Artificial Intelligence and Digital Currencies David Sacks.

At the time, the meeting explored ways to strengthen bilateral relations and the longstanding strategic partnership between the two countries. Discussions also covered prospects for investment in key sectors, including Artificial Intelligence, advanced technology, infrastructure, industry, energy, and healthcare.

During meetings with CEOs and leaders of global companies, opportunities for joint investment were reviewed, with a focus on harnessing the potential of advanced technologies, AI, and innovation to drive inclusive development, increase growth, and improve quality of life.

At the end of that visit, several announcements and agreements. Notably, Nvidia and xAI joined the “AI Infrastructure Partnership”, an initiative aimed at advancing and accelerating the development of artificial intelligence and emerging technologies. ADQ and Energy Capital Partners (ECP), the largest private owner of power generation and renewables in the USA, announced a 50:50 joint venture based in the United States. The partnership aims to invest US$25 billion in new energy projects.

In addition, the Abu Dhabi Department of Government Enablement signed an agreement on behalf of the Government of Abu Dhabi with Microsoft and Core42, a subsidiary of G42 specialised in sovereign cloud, AI, and digital services. The agreement involves the implementation of a joint sovereign cloud system to enhance government service efficiency and develop new digital solutions.

His first meeting with Sacks on March 11th 2025, was an exploration one, where they discussed the transformative effects of AI across various sectors and the expanding role of digital currencies in reshaping financial systems, and the investment opportunities emerging at their convergence. Four days after his comment about the investment opportunities emerging at the convergence of AI and crypto, MGX chaired by H.H. made a $2 billion investment in Binance, bridging the investments being made in AI by MGX with crypto.

Now, in his most recent X post, he discussed his meeting with Lisa Su, the Chairman and CEO of AMD, the global chipmaker. In his X post he noted that with the accelerating trends in the field of AI and the pivotal role of compute infrastructure in shaping the future of technology, the meeting ” explored opportunities for collaboration.” He added that strategic partnerships with leading tech companies remain a cornerstone in advancing progress of regional and global development.

This comes as U.S. President Donald Trump will be visiting UAE in the next few days. As reported on CNN, “The UAE sees a once-in-a-lifetime opportunity to become a significant contributor in AI and advanced technology,” Anwar Gargash, diplomatic adviser to the UAE president, told CNN. “The commitment to invest $1.4 trillion… aligns with the UAE’s goal to diversify its economy away from its over reliance on hydrocarbons to ensure prosperity for the country in the future.” But it won’t be easy for Abu Dhabi to achieve its stated goal of becoming a global leader in AI by 2031 without advanced American microchips.

So will the meeting with AMD Chairman preceded by a third meeting with Sacks, culminate in a huge micro-chip deal that will propel the UAE into the AI future?

Dubai based Web3 Investment firm DWF Labs expands to USA

Dubai based Web3 Investment firm DWF Labs expands to USA

Dubai based DWF Labs, a crypto market maker and Web3 investment firm, expands to the United States with a new office in New York City while purchasing $25 million of World Liberty Financial (“WLFI”) governance tokens in a strategic private transaction, the decentralized finance protocol and governance platform inspired by President Donald J. Trump.

As per the announcement, the new U.S. office marks a significant milestone in DWF Labs’s global expansion strategy, positioning the firm to, strengthen institutional partnerships with banks, asset managers, and fintech firms exploring blockchain integration.
Hire local talent across trading, compliance, and business development.

The entity also seeks to enhance regulatory engagement with U.S. policymakers and advance educational initiatives with American colleges and universities while drive liquidity and adoption for high-quality projects like the USD1 stablecoin and its emerging DeFi ecosystem.


“The U.S. is the world’s largest single market for digital asset innovation,” said Andrei Grachev, Managing Partner of DWF Labs. “Our physical presence reflects our confidence in America’s role as the next growth region for institutional crypto adoption. Moreover, the USD1 stablecoin and forthcoming global DeFi solutions align with our broader mission to improve financial services.”

DWF Labs’s purchase of WLF tokens underscores its desire to participate in WLFI governance and focus on projects addressing real-world financial needs, as evidenced by the growing demand for institutional-ready stablecoins like USD1.

As part of this collaboration, DWF Labs plans to provide liquidity for USD1, leveraging its deep liquidity network and algorithmic infrastructure across centralized and decentralized venues. This strategic role underscores DWF Lab’s commitment to supporting stable, transparent digital assets and advancing the adoption of fiat-referenced stablecoins globally.

“We believe that crypto is going to transform and improve global finance, and stablecoins like USD1 will continue to be fundamental elements in the DeFi technology stack,” said Zak Folkman, co-founder at World Liberty Financial. “As our partner, we expect DWF Labs to help accelerate the next-generation infrastructure we’re actively building and deploying at WLFI.”

UAE unregulated crypto market maker CLS ordered to pay $428,059 in fines to the SEC

UAE unregulated crypto market maker CLS ordered to pay $428,059 in fines to the SEC

After the UAE registered company CLS Global FZC LLC, a non-regulated financial services firm known in the cryptocurrency industry as a “market maker,” admitted to fraud in the United States, the company has received its sentence in federal court in Boston for criminal charges relating to its fraudulent manipulation of cryptocurrency trading volume and has been ordered to pay $428,059.

CLS Global has been ordered to pay a total of $428,059 to the government, representing both a fine and seized cryptocurrency. The court also sentenced CLS Global to a term of probation for three years, during which CLS Global is prohibited from participating in U.S. cryptocurrency markets. CLS Global pleaded guilty to one count of conspiracy to commit market manipulation and wire fraud and one count of wire fraud in January 2025. It was charged criminally in September 2024.

CLS Global provided “market making” and other services for cryptocurrency companies through its public website and other promotional materials. CLS Global was a company registered in the United Arab Emirates that employed over 50 individuals yet not regulated by UAE virtual asset regulatory authorities.

The charges against CLS Global followed an undercover law enforcement operation targeting cryptocurrency “wash trading,” sham trading activity intended to attract investors. The investigation included the creation of NexFundAI, a purported cryptocurrency company that had a website (https://nexfundai.com) and an Ethereum-based token that traded on the Uniswap cryptocurrency exchange before being disabled by law enforcement.

CLS Global agreed to provide market making services for the NexFundAI token that included “wash trading” to fraudulently attract investors to purchase the token. During several videoconferences between July and August 2024, a CLS Global employee explained that the company could “help with volume generation” so that NexFundAI could meet cryptocurrency exchange listing requirements and attract purchasers of the NexFundAI token. The employee explained that CLS Global used an algorithm that “basically does self-trades, buying and selling. . . from multiple wallets so it’s not visible” and so “it looks like organic buying and selling that is happening.” The employee further explained, “It’s very hard to track. . . . We’ve been doing that for many clients.” The employee also acknowledged, “I know that it’s wash trading and I know people might not be happy about it.”

CLS Global’s employee provided a “Market Making proposal” which, in a section titled “Volume Support,” contained an illustration of the CLS Global “dashboard” that reflected “total volume,” “CLS volume” and “external volume.” Traders employed by CLS Global subsequently bought and sold the NexFundAI token on the Uniswap cryptocurrency exchange using CLS Global’s trading wallets and provided reports on the trading activity created by the “volume generation algorithm.”

As part of its sentence, CLS Global is prohibited from participating in cryptocurrency transactions on trading platforms available to investors located in the United States or providing services to cryptocurrency clients based in the United States, as set forth in the plea agreement. CLS Global is also required to make annual certifications that its business practices conform to these prohibitions.

Lebanon wont get USAID if its not on the blockchain

Lebanon wont get USAID if its not on the blockchain

As the United States President Donald Trump overhauls USAID with a new name as well as a proposed integration with Blockchain, Lebanon whose USAID funds were semi frozen might need to integrate Blockchain into its digitization strategy if it wants to be able to get USAID in the future.

President Donald Trump in a recent speech at the Digital Asset Summit in New York, plans to restructure USAID and rebrand it as U.S. International Humanitarian Assistant placing it under the Secretary of State’s authority.

This is in line with Elon Musk’s call to put the U.S. Treasury department on the blockchain as well, considering it would create efficiency and help to decrease costs in government. His view is that the transparency and immutability of the blockchain technology, which ensures all transactions are visible for everyone to see for the rest of time, would eradicate alleged fraud.

Blockchain to be incorporated into USAID


As per a memo circulating among State Department staff, Trump wants to integrate blockchain technology into USAID’s procurement system to enhance security, transparency, and traceability in aid distributions.


It would leverage a blockchain to trace aid distributions and enforce payment models based on outcomes rather than inputs. “All distributions would also be secured and traced via blockchain technology to radically increase security, transparency, and traceability,” the memo reportedly reads, adding that such an approach would encourage innovation and efficiency.


The President also reportedly wants cryptocurrency and blockchain technology to feature heavily in its operations. USAID has been under scrutiny from the Trump administration since the establishment of the Department of Government Efficiency (DOGE), led by Elon Musk.

Lebanese USAID grants semi frozen

The U.S. president froze USAID payments in a January 20th under an executive order. The freezing also effected Lebanon which in 2024 alone received a total of $219 million in assistance from USAID of those $17 million came from the U.S. State Department with military aid accounting for 4% of the total funding and with remaining funds primarily supported humanitarian relief ($91 million) and education ($71 million).


The news of the freeze has had a negative effect on NGOs and their employees in Lebanon even though it was temporarily lifted in February 2025.


There are two major issues that will challenge Lebanon’s ability to received USAID, the first is level of historic corruption in Lebanese government and even claims of corruption within the NGO community, as well as lack of transparency, while the second is the lack of a digital infrastructure that can integrate Blockchain, AI, and other technologies such as digital payments into the web of aid or investment funds to the country.
If USAID will utilize blockchain and crypto, it will need to add the entities that funds are provided with to the blockchain as nodes to be able to track where money has been spent and if it has been spent correctly leading to results.

New Lebanese Cabinet under Salam discusses digital transformation

The new Lebanese Cabinet, under Prime Minister Nawaf Salam is discussing digital transformation in the public sector, after enacting the first Ministry of AI in Lebanese government.
As per news reports, a committee will be formed to oversee coordination between Lebanese Ministries, even though the digitization theme has been in discussion for years. Several previous sessions addressed this issue, dating back to the government’s adoption of the Lebanon Digital Transformation Strategy 2020-2030.


Lebanon’s Prime Minister Nawaf Salam emphasized the government’s commitment to establishing a neutral, transparent, and efficient state administration as a cornerstone of governance. He stressed that “there is no state without an administration,” as it serves as the backbone of governance and a key tool for serving citizens.
He announced that the government formed a ministerial committee to study and modernize the public sector, along with another committee to examine digital transformation in public administration.


Lebanon still has one of the most outdated governmental services sector, where almost everything needs paperwork and in person visits.


Despite this, some ministries have taken independent steps to integrate technology into their services. In 2021, the Ministry of Labor launched an online platform for work permit applications for foreign nationals. The Interior Ministry introduced an electronic criminal record service, allowing citizens to request and receive documents through OMT centers across Lebanon. The Ministry of Justice has also advanced its digital services, enabling lawyers and citizens to create online accounts on the official judicial services platform for easier access to information and remote application submissions. Most recently, the Ministry of Economy introduced an online licensing system for market and exhibition organizers in Lebanon.


Yet all these are remnants of what other governments in the region and globally were doing in the early 2000s. Previous discussions on a CBDC launch and regulation of crypto have never seen the light.

Lebanese Ministry of Health dabbles with Blockchain


The only Ministry that has dabbled with Blockchain has been the Lebanese Ministry of Health which launched MediTrack back in December 2021. The first phase was used to track medicine for Cancer and chronic illness patients whose treatment is costly. Twenty hospitals from across Lebanon attended the training at Rafic Harriri International Hospital.

Minister Abyad in a statement at the time,” The MediTrack Solution will first be utilized for medicine related to high cost treatments such as cancer and other chronic diseases. It is essential in tracing the movement of medicine and will decrease the effects of the financial crisis that Lebanon is going through because it will stop the smuggling of medicine across the border as well as stop the storage and monopolization of these medicines ensuring it gets to the patient and only the patient.”


The Minister noted that this was carried with support of World Health Organization and European Union. In September of 2021, The Lebanese Ministry of Public Health signed a five year agreement with rfxcel, part of Antares Vision Group a solution provider in digital supply chain traceability solutions, to provide a Blockchain enabled GS1-compliant traceability hub to protect the entire pharmaceutical supply chain in the country. The Blockchain enabled solution will be implemented by rfxcel’s partner Medical Value Chain (MVC), the Bahrain subsidiary of US-based AVC Global. MVC

The Future of Lebanon will depend on Blockchain, AI, and datacenters


Future of Lebanon depends on receiving investments from around the globe and the region, and for this to happen, the Lebanese government has to show not only an appetite for reforms, but also a platform that brings transparency and trust. Once again Blockchain, AI, datacenters, become the only relevant solution to bureaucracy corruption and favoritism.


Smart contracts, public access to information on the blockchain, digital asset payments either in CBDCs or stablecoins will eliminate the waste, bureaucracy and corruption that has crippled the Lebanese state for decades, as well as restore trust and confidence in the political and governmental operation of the country.

Anything less than that will not be accepted as the United States and countries in the GCC and Arab world embrace blockchain, AI, digital assets, and the future.

UAE Phoenix Group announces crypto mining revenues of $107 million

UAE Phoenix Group announces crypto mining revenues of $107 million

Phoenix Group PLC (ADX:PHX), ADX-listed blockchain and crypto mining entity saw crypto mining revenues of $107 million in 2024, compared to $32 million in 2023 and $5.4 million in 2022. This represents a1852% increase over two years.

The company’s total gross revenue across all verticals reached $206 million. Phoenix Group’s proactive operational efficiencies and strategic initiatives, including global expansion and diversification, have paved the way for sustained profitability and growth.

Commenting on the 2024 results, Munaf Ali, CEO & Co-Founder, stated, “These results are a testament to our unwavering commitment to innovation and strategic growth on a global scale. The past year has been pivotal for Phoenix Group, marked by significant expansion and enhanced profitability. We are not simply navigating the digital asset revolution – we are shaping it. With a strong foundation and a clear vision, we are confident in delivering continued value to our shareholders and stakeholders worldwide.”

The company achieved a total comprehensive income of $ 219 million and a net profit after tax of USD 167 million. Total assets stood at $962 million, along with earnings per share (EPS) recorded at $0.028, reinforcing Phoenix Group’s continued profitability and shareholder value growth.

Some of the reasons for the increase include improved profitability from self-mining. Gross margins rose to 24% in Q4 2024, up from just 5% in Q3 2024, driven by an average 37% increase in Bitcoin price and a 6% improvement in efficiency improvement mainly coming from sites in the US and Canada. In addition Phoenix Group also advanced its crypto mining operations to Ehtiopia.

In addition, processing power maintained a robust contribution of 15.0 EH/s to the Bitcoin network, with its market share holding steady at 1.9%. The company’s preliminary results remain subject to external audit, with audited consolidated financial statements expected by February 14, 2024.

Unregulated UAE based Cryptocurrency Financial services admits to fraud

Unregulated UAE based Cryptocurrency Financial services admits to fraud

UAE based but unregulated, Cryptocurrency financial services firm CLS Global, has pleaded guilty to charges stemming from a U.S. undercover operation targeting fraud in the crypto sector. USA federal prosecutors announced that CLS will admit to manipulating the market for a digital token created at the FBI’s direction.

The investigation, known as “Operation Token Mirrors,” was the FBI’s first attempt to create its own digital token and a fake cryptocurrency company as part of a broader strategy to identify fraudsters in the crypto market. CLS is one of three market makers and 15 individuals charged last year by federal prosecutors in Boston as a result of the probe.

In court filings, CLS acknowledged providing illicit services to the FBI-backed NexFundAI token, which ran on the Ethereum blockchain. Prosecutors said the firm engaged in wash trading—sham transactions intended to artificially boost the token’s trading volume and price.

Under the terms of the plea agreement, CLS will plead guilty to two fraud-related counts, pay $428,059 in penalties, and withdraw from cryptocurrency transactions involving U.S. investors. The company will also be required to certify its business practices annually and agreed to settle civil charges brought by the U.S. Securities and Exchange Commission.

Filipp Veselov, CEO of CLS Global, stated, “We recognize that there may be areas where we can improve our processes, and we are open to constructive dialogue with regulatory authorities.” The company added that it actively works to restrict engagement with U.S. clients.

This case is part of a broader DOJ crackdown on crypto market manipulation, with other firms like CLS Global, and ZM Quant also facing accusations of inflating token volumes. These firms allegedly engaged in similar practices, making tokens appear more active and valuable than they were, often selling them at inflated prices to outside investors.

Dubai authorities broke up two major money laundering operations

This comes as Dubai authorities, in collaboration with key federal authorities, have successfully broken up two major international networks conducting money-laundering operations worth a total of $174 million (AED641 million). The Dubai Public Prosecution referred an Emirati national, 21 British nationals, two Americans, a Czech national, and two companies owned by the Emirati national to the Criminal Court of First Instance at Dubai Courts. The individuals and entities face charges of possessing illicit funds of AED461 million as well as forgery of official documents and their use.

In another successful operation, a collaboation between Dubai Economic Security Centre and the Public Funds Prosecution in Dubai disrupted an international organized crime network involved in money laundering operations worth $49 million (AED180 million) using cryptocurrencies. The Dubai Public Prosecution has referred the case involving a network of 30 individuals and three companies to the Money Laundering Court at Dubai Courts. The network, which conducted complex money laundering operations worth AED180 million using cryptocurrencies, operated across the UK and Dubai. Investigations revealed that the network laundered cash in the UK through unlicensed cryptocurrency intermediaries present in the UK and Dubai.

The accused, identified as two Indian nationals and one British national, orchestrated the scheme, which included proceeds from illegal activities such as drug trafficking, fraud, and tax evasion in the UK. A meticulously planned operation led to the arrest of the accused and the freezing of bank accounts used for money laundering activities.

The success of these complex operations was made possible through the combined efforts of the Public Funds Prosecution in Dubai, Dubai Economic Security Centre, Dubai Police’s Anti-Money Laundering Unit, the UAE Financial Intelligence Unit, Dubai Customs, and the International Cooperation Department at the UAE Ministry of Justice.

His Excellency Essam Issa Al Humaidan, Attorney General of Dubai, commended the Public Prosecution, law enforcement agencies, and partnering local and federal agencies for conducting coordinated meticulous investigations that led to the successful dismantling of the sophisticated international money laundering networks. He underscored the significance of these efforts in tackling complex financial crimes, protecting the national economy, and enhancing financial stability. His Excellency reaffirmed Dubai’s commitment to enforcing anti-money laundering laws, combating organized financial crime, and strengthening international cooperation to uphold global financial integrity.

Dubai Police succeed in addressing 500 money laundering cases

Dubai Police successfully addressed 500 money laundering cases from 2022 to 2024, underscoring their vital role in the UAE’s efforts to combat organized and transnational crime. Working closely with international law enforcement agencies, these efforts have led to investigations involving over AED 4 billion, including $16 million (AED 60 million )in virtual assets.

Lieutenant General Abdulla Khalifa Al Marri, Commander-in-Chief of Dubai Police, highlighted that these accomplishments reflect the UAE’s ongoing commitment to fighting money laundering and strengthening global partnerships to tackle financial crimes.

UAE and USA retail investors to increase investments in crypto in 2025

UAE and USA retail investors to increase investments in crypto in 2025

In an eToro survey, published December 24th, on UAE retail investors, it found that UAE retain investors plan to increase their cryptocurrency investments by 2025. In fact 37% of retail investors plan to do so, while 40% plan to increase their investments in stocks, bonds and commodities, while 38% plan to invest in real estate.

This survey covered 1,000 retail investors in the UAE, 54% of whom listed financial goals as their main New Year’s resolutions for 2025, including investing in stocks, cryptocurrencies, and real estate.

The survey also showed that 51% of respondents plan to increase their savings or investment amounts, and 41% plan to develop more comprehensive budgeting and spending tracking strategies. Meanwhile, 32% want to increase their income through side jobs, and 28% are considering changing jobs to earn higher salaries.

66 percent of retail investors in USA will increase allocation in crypto in 2025

Bret Kenwell of eToro discussed a survey that was conducted on 1,000 retail investors in the United States. 61% of respondents affirmed that the bull market will persist.

In addition, confidence in AI stocks is also high, with 16% anticipating that they will continue their substantial increase into 2025, while 42% anticipate more incremental increases in their share prices.

Analyst Bret Kenwell said, “Tech often serves as a leadership group for US stocks, and with mega-cap and AI-related stocks garnering strong momentum as Q4 draws to a close, retail investors are looking for that to continue in 2025. Given how well markets have performed and how well these companies are doing, it’s no surprise that investors are optimistic.”

The re-election of Donald Trump, a pro-crypto president, has inspired substantial adjustments in retail investors’ portfolios. 55% of investors have adjusted their strategies. Of those that are planning on adjustments, 66% are increasing their allocation to crypto, a more popular option than US stocks 50%.

Bret Kenwell explained that Crypto has done really well. He further pointed out that Bitcoin has doubled its price for two consecutive years.

Tether holdings of U.S. treasury bills surpasses that of UAE

Tether holdings of U.S. treasury bills surpasses that of UAE

Tether stablecoin on its 10th anniversary announced that it was one of the top 20 largest buyers of U.S. Treasury bills, surpassing the holdings of UAE. The company also announced that it had surpassed 350 million users just a decade after its 2014 launch.

According to recent data released by the company, Tether’s user base expanded by 24% over the past year alone, jumping from approximately 282 million users in October 2023 to its current level. This growth is even more striking when compared to October 2022, when the platform had roughly 141 million users, less than half of today’s figure.

With a current market capitalization of $119.8 billion, Tether’s USDT token significantly outpaces all other stablecoins in circulation.

The company reports substantial holdings in U.S. Treasuries, positioning itself as a significant player in government securities markets. “As of its Q2 2024 Attestation, Tether had direct and indirect exposure to over $97 billion in U.S. Treasuries,” the company stated. “This makes Tether one of the top 20 largest buyers of U.S. Treasury bills, surpassing the holdings of countries like Germany, the United Arab Emirates, and Australia.”

Tether argues that its significant Treasury holdings strengthen the dollar’s international influence, with USDt serving as a trusted digital representation of the world’s reserve currency.

Tether recently announced it would be launching a UAE Dirham backed stablecoin.

UAE regulated crypto custodian Komainu chosen by Nasdaq

UAE regulated crypto custodian Komainu chosen by Nasdaq

UAE regulated Komainu, diigtal asset custodian is now a Core Custodian for Nasdaq’s suite of Crypto Indices. Nasdaq’s Core Custodian requirements are designed to ensure the security and integrity of digital assets.

Key criteria include, bankruptcy remoteness which entails legal protection and segregation of client assets in the event of custodian insolvency,   regulatory compliance which entails licensing by reputable regulatory bodies. Komainu is regulated by Dubai’s Virtual Asset regulatory Authority. Also included in the criteria that allowed Komainu to be chosen is the advanced security practices for private key generation and segregated storage, cold storage, risk management that offers a comprehensive frameworks for operational and custody risk mitigation.

In addition criteria also include asset recovery, auditing, and insurance protection.

“We are pleased to be selected as a Core Custodian by Nasdaq, a testament to our commitment to institutional-grade security and operational excellence. This partnership validates our approach to digital asset custody and aligns perfectly with our mission to become the preferred gateway to digital assets for institutional investors. At Komainu, we’ve built our foundation on the very principles Nasdaq demands, ensuring that institutional investors can engage with digital assets confidently and securely.”

Komainu, was the first VASP in UAE to be granted a full virtual assets service provider license by Dubai’s virtual asset regulatory authority in UAE. The license was issued on August 18th 2023.

The announcement comes as the first Ethereum spot exchange-traded product (ETP) goes live on Nasdaq. The product is called the iShares Ethereum Trust ETF. It can be identified by its ticker symbol ETHA. Nasdaq and BlackRock collaborated extensively, crossing both regulatory and operational hurdles, to successfully launch ETHA.

UAE nuclear and blockchain expert appointed as advisor to Sustainable Bitcoin protocol

UAE nuclear and blockchain expert appointed as advisor to Sustainable Bitcoin protocol

U.S. based Sustainable Bitcoin Protocol (SBP), which aims to unlock Bitcoin’s potential to become the most transparent and sustainable asset has appointed UAE national, an entrepreneur and pioneer in nuclear energy technology, space industry and digital assets Ali AlNuaimi.

Ali Alnuaimi, will hold the position of advisor at Sustainable Bitcoin Protocol. As per the Xpost of SBP, “Ali brings a wealth of experience to Sustainable Bitcoin Protocol. His visionary leadership in launching the UAE’s 1st nuclear reactor & integrating blockchain technology into the energy & financial sectors is a testament to his expertise in sustainable #energy & technological innovation.”

The post adds, “Ali’s pioneering work in leveraging blockchain for energy sustainability aligns perfectly with the company’s objectives, promising to accelerate the adoption of #cleanenergy solutions in bitcoin mining.”

AlNuaimi holds other advisory roles in well renowned entities in the digital asset, AI and Blockchain fields. He is an advisor at Buildr.ai, Marathon Digital, Gigaenergy, and Mysten Labs, the creators of Sui Blockchain.

He is also the Founder and Managing Director of AI firm Shafra.

SBP enables investors to hold verifiably sustainable BTC through the introduction of a new environmental commodity derived from clean energy bitcoin mining, called the Sustainable Bitcoin Certificate (SBC). SBC are paired with BTC 1 for 1 by investors. SBC financially incentivizes Bitcoin miners to use verified clean energy sources.

Finally, SBP’s certificate allows Bitcoin to become fully sustainable with transparent clean energy use without disrupting the fungibility of BTC.

Sustainable Bitcoin Protocol is turning environmental sustainability into an appreciating commodity, in turn supporting clean energy bitcoin miners and helping investors reach their ESG goals.

SBC are a new environmental commodity specifically designed to align Bitcoin mining with climate action. SBC incentivize verified clean energy use and waste methane mitigation, as well as mobilize capital from investors toward the energy transition.

The SBP aims to bring in new revenue and energy transparency by mining Bitcoin with clean energy.

UAE has become a hub for Bitcoin mining, whether with Marathon Digital in Abu Dhabi, or Phoenix Technology, could this be the starting point for digital assets mining, using nuclear energy available in Abu Dhabi?