What Happened in the Web3 World This Week?

$2 Billion Mega Investment in Binance

Abu Dhabi-based AI and advanced technology fund MGX has entered the crypto sector with a $2 billion investment in Binance. This marks Binance’s first institutional investment and stands as the largest single financing deal in the crypto ecosystem to date.

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Crypto Asset Regulation Published in the Official Gazette

The newly published crypto asset regulations in the Official Gazette set a capital requirement of 150 million TL for exchanges and 500 million TL for custodians. Additionally, exchanges are now required to establish a listing committee, store 95% of customer assets in custodians, and undergo an annual independent audit.

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Critical Phase in the Ripple-SEC Lawsuit

As the lawsuit between Ripple and the SEC enters the resolution phase, the company is negotiating a $125 million penalty and a ban on XRP sales.

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Bitcoin in the Sky: Gemini Sets Record with 1,000 Drones

Crypto exchange Gemini set a Guinness World Record by projecting the Bitcoin logo into the sky with a 1,000-drone show in Austin, Texas. The event was held to celebrate the U.S. Strategic Bitcoin Reserve initiative.

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MoonPay Acquires Stablecoin Infrastructure Firm Iron

MoonPay has acquired API-focused stablecoin infrastructure provider Iron, strengthening its presence in the institutional stablecoin market.

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Ripple Secures Crypto Payment License in Dubai

Ripple has received full regulatory approval from the Dubai Financial Services Authority (DFSA), granting it the authority to offer cross-border crypto payment services in the UAE. With this license, Ripple becomes the first blockchain-based payment provider to operate within the Dubai International Financial Centre (DIFC).

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