BlockByBlock

With Block By Block, the GCC will welcome its first-ever, blockchain-driven newsletter. Stay in-the-know by subscribing to our free service. Link available here: blockbyblockgcc.substack.com (3/3)

Shapella Not Chapelle ☝ Surprisingly, Ethereum's recent hard fork "Shapella" had nothing to do with world-renowned comedian Dave Chapelle. Instead, Ethereum's hard fork allowed stakers on the Beacon Chain to withdraw their staked Ether, which had been locked since 2020.

Digital Waves Is Makin' Waves🌊 @DwfLabs captured headlines after splurging over $200M on AI-crypto-Web3 projects like @MeetTomiAI, @Fetch_ai and @LABELFoundation. Additionally, Yalla!Market made headlines after announcing it would be accepting crypto via Binance and IvendPay.

The UAE vs. Saudi💪 The rivalry intensifies as KSA looks to become the destination of choice for expatriates, a position held for decades by the UAE. @WamdaME's report quantifies a portion of this rivalry. In March, KSA startups raised $175M compared to the UAE's $59M.

In this week's issue: ⚡Startups in the UAE and Saudi Arabia raise $234 million of the $247 million raised in the MENA region in March. 🌟@DwfLabs, a UAE-based Web3 firm, invests $1 million in @LABELFoundation, a Korean blockchain-based entity focused on music disruption.

@LayerZero_Labs proves investors still have an appetite for blockchain in 2023🍴 Other 'major' news: 👉50+ legislative items relating to crypto & digital asset policy made their debut on Capitol Hill. 👉The Bank of England begins building a team to develop the nation’s CBDC.

We love us some startup action, and last week had plenty of it! Ghaf Labs and @RepublicCrypto also made moves by partnering up to offer their blockchain advisory, consultancy and incubator services to MENA's blockchain and Web3 companies.

Central Banks are hungry for CBDCs🏛️ While regulators' attitudes to crypto vary greatly, there seems to be a unified acceptance of CBCDs. As BlockByBlock's latest newsletter release reported, Kuwait has joined the list of governments actively exploring CBDCs.

Read more about this here: ow.ly/ixjw50NEPsw

Christopher Flinos, @HAYVNPay Saeed Hareb Aldarmaki, @SheeshaFinance_ Anjo de Heus, @PlayTreks Mehtap Onder, GCEX @vineetbudki, @cypher_capital

Unlock Blockchain crowns the 20 Best CEOs in Blockchain in the MENA Region👑

NFT market received an unlikely catalyst last week💭 Trump NFTs received major price boost after a New York jury indicted him on 30+ counts of fraud. Minted for $99 on the Polygon network, the NFTs surged to a price of $1K & recorded nearly $5B worth of trading volume.

It's "Regulators vs. Operators" in the crypto market👊 Despite Bitcoin's impressive price action in 2023, the crypto market remains fraught with a tense regulators and operators relationship. Just last week, Coinbase had made headlines by receiving a lawsuit from the SEC.

All Quiet On The Eastern Front🤫 Startup activity has diminished slightly locally following the beginning of the holy month of Ramadan. Yet, some operators are refusing to slow down even now. @MarathonDH plans to open up 2 mining sites comprising 250 megawatts in Abu Dhabi.

Bahrain, KSA & UAE make significant strides in developing crypto regulatory landscape🐫 Many crypto exchanges progressed in their pursuit of a fully-functional license of operation in UAE. The KSA Central Bank is looking into a forum that differentiates between virtual assets.

This issue: ⚡The @CBB_News introduces a regulatory framework for digital tokens to strengthen local crypto assets market. 💸@MarathonDH says it will open up 2 mining sites comprising 250 megawatts in Abu Dhabi. 🕌 BlockByBlock wishes all its readers a hearty Ramadan Kareem.

Read more about this here: ow.ly/CCkH50NshSC

A Wells Notice is a letter stating the SEC's plans to bring an enforcement action against its recipient. The Wells Notice alleges that Coinbases' staking products constitute unregistered securities.

The SEC vs. Coinbase: A Drama🤯