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The Cardano Foundation’s account on the X platform was hacked on Sunday by an unknown party, with false announcements being posted that a fake digital representative bearing the Cardano brand was being launched on the Solana network, as well as a false claim that the Securities and Exchange Commission had filed a lawsuit against the company.
The hacked account was first used to tweet that claimed to launch a new digital asset called $ADASOL, describing it as an improved version of Cardano built on the Solana network with greater speed and innovation.

Bitcoin’s value has fallen sharply from its all-time high of over $100,000, after a market liquidation of more than half a billion dollars in a single day. The drop coincided with a massive market liquidation in the cryptocurrency sector of $565 million for Bitcoin alone, after the digital currency touched the $103,900 mark on December 4 before falling sharply.

BlackRock Inc.’s iShares Bitcoin Trust crossed the 500,000-bitcoin threshold on Monday, bringing its total assets under management to about $48 billion. The fund achieved the milestone in less than a year since its launch in January.
According to the latest data, the fund currently holds just over 500,000 Bitcoins, which is about 2.38% of the total supply of this digital currency. This achievement reflects the growing demand for investing in Bitcoin through spot exchange-traded funds.

The UAE continues to strengthen its position as a leading global power in digital technology, driven by massive investments in vital sectors such as telecommunications, cloud computing and artificial intelligence. These investments contribute to accelerating the pace of digital transformation in the country and enhancing its ability to keep pace with the latest technological developments globally.

The Abu Dhabi Blockchain Centre has signed a strategic agreement with Bitcoin MENA, the world’s largest Bitcoin conference brand, in a move that cements Abu Dhabi’s position as a leading hub for digital currencies, assets and financial innovation in the world. The joint effort of the two parties will launch the first Bitcoin MENA Conference 2024 at ADNEC Abu Dhabi, from December 9 to 10.

Republicans are considering a major expansion of the Commodity Futures Trading Commission’s authority, giving it oversight of a large portion of the $3 trillion digital asset market. The move is part of Republicans’ push to reduce the influence of the Securities and Exchange Commission over the digital asset sector, which was strong under the previous Democratic administration.

Telegram’s cryptocurrency holdings have seen massive growth, rising from $400 million at the end of 2023 to $1.3 billion in the first half of 2024. According to the Financial Times, this sharp rise is due to several factors, including increased investments in digital assets and profits from TON sales and deals related to the Open Network (TON). Despite the legal challenges facing its founder, Telegram has managed to strengthen its financial presence in the cryptocurrency world.

The Ethereum blockchain has surpassed Tron as the world’s largest Tether holder, following a significant increase in the supply of USDT on the Ethereum network over the past week. According to DefiLlama data, the total value of USDT on the Ethereum network has reached $60.3 billion, surpassing the value on Tron, which reached $58.1 billion.

The UK will unveil a comprehensive regulatory framework for digital assets early next year, a UK government official confirmed at the Citi & Financial Global Digital Asset Conference in London. The regulations were previously expected to come out last summer, but were delayed due to the UK general election. Now, with the Labour Party in power, the new government has confirmed its intention to move forward with implementing the framework.

Sui Network, a layer-one blockchain platform designed to run smart contracts quickly, experienced a major outage on November 21. According to data from blockchain explorer SuiVision, the network stopped producing blocks for over an hour starting at 9:15 GMT.
Despite the outage, the Sui network’s website showed that all systems were operating normally, much to the confusion of users. The outage has raised concerns in the cryptocurrency community, with some speculating that it was caused by a problem with the transaction validation process. This has led to South Korean platform Upbit temporarily suspending SUI deposits and withdrawals.

MicroStrategy has announced a new $5 billion investment in Bitcoin, bringing its total holdings of the cryptocurrency to $29 billion. The announcement comes amid a record-breaking surge in Bitcoin’s price, with the popular cryptocurrency crossing $97,000 for the first time, fueled by positive expectations about the future of cryptocurrencies.

As part of its efforts to enhance Dubai’s position as a global digital hub, the Dubai Chamber of Digital Economy organized specialized workshops to build capacity in the field of artificial intelligence and empower women in the technology sector. The first workshop highlighted the growing demand for digital skills, especially in the field of artificial intelligence, which is witnessing steady growth globally.

President Donald Trump’s Trump Media & Technology Group (TMTG) is reportedly in advanced talks to buy cryptocurrency exchange Bakkt. The Financial Times reported, citing unnamed sources, that TMTG is close to buying all of Bakkt’s shares.
The deal will not include Bakkt’s crypto custody business, which the company said is likely to end, according to the report. Bakkt and TMTG did not immediately respond to PYMNTS’ request for comment.

The UAE is at the forefront of banking innovation in the Middle East, accounting for the largest share of the region’s $3.2 trillion in assets. The Arthur D. Little report highlights the UAE’s pivotal role in shaping the future of the region’s financial sector. The report also highlights the UAE’s leading role in shaping the future of digital banking in the region.

BlackRock today announced that it has been granted a trading license in Abu Dhabi, confirming its intention to seek regulatory authorization to conduct business in Abu Dhabi Global Market (ADGM), the capital’s international financial center.
Building on the strong relationships BlackRock has built with clients in Abu Dhabi and across the region over more than 20 years, the company’s new headquarters reflects its ongoing commitment to the UAE and its tireless efforts to foster strong relationships with its clients and partners in the country.