Dubai Crypto & Coffee at 8 ☕ 🚨 Dubai: 21st Aug 🚨 💥Bloodbath in Global Crypto 🔻 Evergrande Group 🔻 Europe’s First Spot Bitcoin ETF⚡ Update on Ripple vs SEC 🚨Bitcoin Ordinals transactions drown 🔻 - a podcast by Blockchain DXB

21st August: Crypto & Coffee at 8 🎙️
💥 Evergrande Group 🔻Global Crypto🔻 Europe’s First Spot Bitcoin ETF⚡ Update on Ripple vs SEC 🚨Bitcoin Ordinals transactions dropped by 97%

💥 China’s Evergrande Group filed for Chapter 15 Bankruptcy in New York
ahead of scheme meetings. To learn about Chapter 15 all details are here Uscourts. Gov https://lnkd.in/dwk3vxY3 . A Chapter 15 bankruptcy is a way for foreign companies with U.S. assets to get access to domestic courts, and protect them from U.S. creditors while they restructure overseas.

🎙️ Check out Blockchain DXB’s Crypto & Coffee at 8 podcasts where we give our commentary on this. See slide 1 & 2 for info on #stablecoins #defi & more

Over $50B has been wiped off in #btc market cap since 17th

🚨 How does this news impact Bitcoin?
Investing.com article Chinese Giant’s Impact on digital markets states news of Evergrande’s bankruptcy filing sent shockwaves through the crypto market. Bitcoin (BTC), leading the charge, crashed by 7% in the last 24 hours minutes and even dipped below $26,000, trading at $26,500 as of August 18. Article here https://lnkd.in/dJ8uCqy5

🚨In Europe’s First Spot Bitcoin ETF Makes Waves on Euronext Amsterdam. it’s important to note Jacobi Asset Management obtained approval for the fund in 2021 but delayed the launch reportedly due to unpredictable circumstances in the digital asset space.

❗ Dubbed the Jacobi FT Wilshere Bitcoin ETF, the offering will be regulated by the Guernsey Financial Services Commission (GFSC). More info via Finance Magnates here https://lnkd.in/dVRS7zqp

Ripple 🆚 SEC
💥 Judge Analisa Torres has granted a request from the U.S. Securities and Exchange Commission to file a motion for leave to file an interlocutory appeal in its case against Ripple Labs. The decision allowed the SEC to file a motion, on Aug. 18, requesting permission to bring a case to the U.S. Court of Appeals for the Second. More info via Cointelegraph on this here https://lnkd.in/dDtgTtzK

❗ Brad Garlinghouse, CEO of Ripple mentioned via Twitter the request for appeal (even if granted) doesn’t change the fact that XRP is not a security https://lnkd.in/d7eyd55m

❓ So looks like there is a Central entity updating us on behalf of Ripple.

❗ The case against Ripple has been ongoing since December 2020, when the SEC sued Ripple and its executives over allegations of offering an unregistered security.

🟠 Bitcoin Ordinals transactions have dropped by 97% DappRadars blog here https://lnkd.in/dR9Hn5mv states
- Bitcoin Ordinals: -97% volume since May 2023.
- July: NFTs down, 4% active wallets.
- Ethereum, Polygon: NFT wallets -22%, -60% Feb to mid-Aug.
- Bitcoin Ordinals: -90% in the same period.
- Crucial for Bitcoin NFTs’ future

🟠 Two UAE news: (See slides)
⚡ Virtual Assets Trading Platform M2 receives Financial Services Permission From Abu Dhabi Global Market (ADGM) Market
⚡ RAK DAO and Humans.ai partner to drive AI innovation in the UAE

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