Blockchain Press Releases
Bitget Targets Middle East as Next Region for Business Expansion
VICTORIA, Seychelles, July 20, 2023 /PRNewswire/ — Bitget, top crypto derivatives and copy trading platform, has unveiled its expansion plans into the Middle East region. This will involve hiring 60 new staff members as part of the exchange’s overall global scaling strategy, which entails the advancement of crypto penetration and adoption across new audiences.
Bitget is preparing to launch representative initiatives in the Middle East, considering the region’s attractiveness as a prime hotbed of crypto activity. Among the countries the exchange is intending to explore are Bahrain and the UAE, including such as the crypto-friendly emirates of Dubai, Abu Dhabi, and Ras Al Khaimah. The expansion foresees the setting up regional headquarter, as well as the recruitment of new team members who will be assigned various mid-office and back-office functions.
Recent statistical data on MENA region crypto adoption indicates that it is home to the fastest-growing cryptocurrency industry, taking up a 9.2% share of global transactions in the period from 2021 to 2022. The UAE alone experienced 400% growth in the number of registered crypto businesses between 2020 and 2022, leading to a surge in global digital asset trading, accounting for 10% of global volume. In addition, the region saw a 300% increase in blockchain-related educational programs and accounts for as much as 8% of all mining hash rates.
“We hope to scale our Middle East team rapidly to support business growth, with between 30 to 60 hires over the next 2 years or more across the Middle East region. New team members will include various mid-office and back-office functions. We may consider selecting Dubai as an operational hub for the Middle East market. This move is not just about business, it is about our core values, which rest on advancing blockchain and crypto adoption worldwide,” as Gracy Chen, Managing Director of Bitget, commented on the announcement.
Bitget has already begun exploring license applications in order to operate in target Middle East markets. Gaining proper licenses and regulatory approval is a top priority to support expansion and allow the company to open regional offices.
Bitget has been scaling its operational reach globally in recent months, including the registration as VASP (Virtual Asset Service Provider) in Poland and similar crypto registration in Lithuania. The new expansion plan in the Middle East region comes on the heels of Bitget’s launch in Turkey earlier this year, which now boasts a full localization including its Turkish website, Bitget TR, to provide localized services for users in Turkey.
About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange that offers Copy Trading services as one of its key features. Serving over 8 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord
View original content:https://www.prnewswire.co.uk/news-releases/bitget-targets-middle-east-as-next-region-for-business-expansion-301881737.html
Blockchain
FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
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Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
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Blockchain
Existing Blockchains Can’t Adopt Post-Quantum Cryptography Without Significant User Impact, Says Johann Polecsak
Johann Polecsak argues that existing blockchains face significant challenges in adopting post-quantum cryptography without causing substantial disruption to users. This assessment highlights the complex and multifaceted nature of transitioning to new cryptographic standards in blockchain networks.
Post-quantum cryptography refers to cryptographic algorithms that are resistant to attacks from quantum computers, which have the potential to break traditional cryptographic schemes. While post-quantum cryptography offers enhanced security, implementing it in existing blockchain networks poses technical, operational, and usability challenges.
Polecsak suggests that transitioning to post-quantum cryptography could require significant changes to blockchain protocols, consensus mechanisms, and user interfaces. These changes may disrupt existing workflows, require modifications to software and hardware infrastructure, and necessitate coordination among network participants.
Furthermore, Polecsak emphasizes the importance of ensuring backward compatibility and interoperability during the transition to post-quantum cryptography. This is crucial to prevent fragmentation of the blockchain ecosystem and maintain continuity for users and applications.
Polecsak’s assessment underscores the complexities and trade-offs involved in adopting post-quantum cryptography in existing blockchain networks. While the transition promises improved security against quantum threats, it requires careful planning, coordination, and investment to minimize disruption and ensure a smooth transition for users and stakeholders. As the field of post-quantum cryptography continues to evolve, blockchain projects will need to carefully evaluate their options and strategies for implementing these new cryptographic standards.
Source: news.bitcoin.com
The post Existing Blockchains Can’t Adopt Post-Quantum Cryptography Without Significant User Impact, Says Johann Polecsak appeared first on HIPTHER Alerts.
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