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As a leading fintech company, ALPEX Global aims to educate people on how this disruptive technology will benefit the entire world. ALPEX Global introduces a variety of subsidiaries including ALPEX Derivatives Exchange, ALPEX Academy, and its own APX Token. With a keen eye on the market, ALPEX Global aims to create a safe, reliable, and flexible trading platform building its core on innovation and sustainability. We utilize our years of broad experience and sharp insights to provide our investors with secure operating systems, complete transaction tools, and various financial resources. Our technology helps investors better understand risk and make more powerful trading decisions.
Overview
First NFT stamps are issued in the Middle East and crypto tokens plunge in a fresh sign of global market nerves. Omicron Fears lead to tumbled markets. This week has been quite eventful.
Beginning this week’s newsletter, The United Arab Emirates has taken a favorable stance towards crypto. To honor National Day, its postal operator is issuing NFTs. In commemoration of the United Arab Emirates’ 50th National Day, the country’s postal service issued nonfungible token stamps. This is further evidence of digital collectibles’ gaining mainstream appeal.
Emirates Post Group, or EPG for short, announced this week that it is now the first post office in the Middle East and North Africa to issue digitally collectible stamps as part of its stamp program. In addition to the new stamps, which will be unveiled on the holiday, the new stamps will be connected to their physical counterparts through a blockchain-based digital twin.
There will be four stamps issued, each with a unique design based on a national theme. After scanning a QR code printed on the card, the purchaser will be able to see the digital design associated with the physical stamp they purchase. A QR code at the back of the card must be scanned to activate the digital collectible on the blockchain.
With local regulators pushing a series of crypto-friendly regulations, the UAE has adopted a progressive attitude towards blockchain technology and digital assets. According to local authorities, a new framework was introduced to Dubai’s economic free zone in September that allows cryptocurrency trading. This could allow the emirate to become more innovative and adopt cryptocurrency more widely.
In other news, Bitcoin plunged along with other cryptocurrencies on Saturday, in another sign of the risk aversion sweeping through the financial markets. The largest digital token plunged to $42,296 before paring some of its losses. On Saturday, it traded at about $48,300, down about 10%. On November 10, the token was valued at more than $69,000, its all-time high.
In terms of market capitalization, Ethereum fell 17.4% before trimming the loss to about 4%. Throughout the crypto industry, value has fallen by around a fifth, sliding to $2.2 trillion. Cryptocurrencies, which trade continuously, are not unheard of to fluctuate massively over the weekend. Several factors contribute to this, including thinner trading volumes and a market structure made up of hundreds of disconnected exchanges that, in effect, are islands of liquidity.
Financial markets are experiencing a volatile period during the recent swings in cryptocurrencies. Central banks are being forced to tighten monetary policy by spiking inflation, which threatens to reduce the liquidity tailwind that has lifted assets across a wide range. Risk aversion is also attributed to the omicron variant of Coronavirus due to concerns about what it might mean for the global economy. A record low in November has lowered global stocks by more than 4%, while safe-haven assets like Treasuries have rallied.
We saw some actions from Jack Dorsey last week. Only days after resigning as Twitter’s CEO, Jack Dorsey announced he would change Square’s name next week to “Block” and the cryptocurrency division Square Crypto would be renamed “Spiral.” These changes will take place next week on Dec. 10.
In a press release, Dorsey stated, “We built the Square brand specifically for our Seller business.”. Dorsey added: “Block is a new name, but our purpose remains the same. No matter what, we’ll continue to build tools to help increase access to the economy.”
Dorsey is showing again that he’s prepared to go all-in on crypto and Bitcoin. His Twitter profile explains it in one word: #Bitcoin. He has been a passionate supporter of Bitcoin for many years, stating publicly that he believes it can establish economic equality throughout the world, be a catalyst for world peace, and be the global currency of the future.
Moreover, Dorsey has said that if he weren’t CEO of Twitter and Square/Block, he would be working on Bitcoin. Additionally, he seems to be putting those words into action, as he recently laid the groundwork and issued a white paper for Square to launch its decentralized exchange for Bitcoin trading, enabling Bitcoin payments via Square/Block’s Cash App since 2018. Experts and analysts expect Square/Block to increase its investments in its financial tech innovations, which will almost certainly include novel Bitcoin offerings.
As part of a plan to mature and stabilize crypto, Meta relaxes its cryptocurrency advertising policies on Facebook. The company, formerly known as Facebook, has relaxed its policy on cryptocurrency advertisements, making it easier for companies to run crypto advertisements on its platform. In the past few years, cryptocurrency has matured and stabilized. There have also been more government regulations that have set clearer rules within the industry, stated the company.
Consequently, new advertising regulations for cryptocurrencies were announced Wednesday by Facebook’s Meta division. The company now accepts 27 regulatory licenses instead of “using multiple signals to confirm eligibility” for advertising on its platform. Businesses are now eligible to advertise on Facebook if they have one of 27 licenses. Crypto platforms, software apps, and products that exchange, trade, lend, or borrow crypto remain subject to prior written permission. Also included are “cryptocurrency wallets that allow people to buy, sell, swap, or stake cryptocurrency tokens” and “hardware and software for cryptocurrency mining”.
Earlier this week, Meta executive David Marcus announced he was leaving the company at the end of the year. Marcus heads up Facebook’s crypto efforts, which include the digital currency Diem, formerly libra.
Last but not least, Forbes has named 15 crypto business leaders in its latest 30 Under 30, including OpenSea’s Alex Atallah, Alamada Research’s Caroline Ellison, and Sam Trabucco.
The Forbes 30 Under 30 list includes 600 people in 20 categories, such as music, gaming, and finance, despite its misleading name. In addition to Sam Bankman-Fried, who founded FTX and Alameda Research, Brian Tubergen, co-founder of the US-based ICO and exchange platform CoinList, is a notable alumnus.
According to Forbes, the latest batch of under-30s raised more than $1 billion combined in the latest edition. About 15 crypto personalities made the list, including the CEOs of Alamada Research, OpenSea, and PleasrDAO, along with Alamada Research and OpenSea co-founders.
Outside the Finance category, PleasrDao’s Yang was given an award for her work in acquiring impressive nonfungible token collections, such as Edward Snowden’s first drop in April for 2,224 Ether (ETH) ($10.1 million at current prices). For their efforts in crypto journalism, Blockworks co-founders Michael Ippolito and Jason Yanowitz were also recognized as “Media” winners.
The number of crypto leaders participating this year has increased 50% from the previous edition’s 10 and reflects a growing trend of crypto acceptance in mainstream media. Part of the reason may be the increasing number of crypto entrepreneurs that have made the list of the richest in the past year.
An annual list of the 40 wealthiest entrepreneurs aged under 40 was released by the Australian Financial Review last month. Forbes’ billionaire’s list from April included 13 crypto leaders, a 3x increase from the year before.
As we approach the holiday season, Bitcoin and other cryptocurrency investors are trying to figure out whether the holiday season will be one of gifts or shocks. Be certain to stay tuned, as we will keep you updated on all activities and market news. We are always focused on the latest market developments related to crypto, from bulls to bears. To stay up to date, follow ALPEX Global on social media.
Marketing Summary:
In market news: The market showed tremendous volatility this week. The market dropped sharply on December 4, which was the biggest drop since May 19. The price of BTC fell below $50,000 and Huobi saw a minimum of US$28,000. The overall crypto market also fell 30%. This time, the drop is attributed to the collective decline of China’s concept stocks triggered by Didi’s delisting.
Furthermore, the hot wallet of BitMart was hacked on December 5 and about $200 million was stolen. The theft was due to a problem with the hot wallet’s private key, according to security agencies, and BitMart has now stated it will cover all losses.
Information about the marketing department : The ALPEX team is attending a conference on blockchain in Abu Dhabi this year. The Abu Dhabi National Exhibition Centre will host Blockchain World: DCS 2021 from 15–17 December 2021. The exhibition space will host a variety of engaging activities where visitors can interact, learn, and network in a world-class setting. On December 16, 2021, ALPEX Academy Dean Anita Kalergis and ALPEX Global Advisor Pekka Kelkka will take center stage. Furthermore, we enjoyed the UAE National Holiday on the occasion of UAE’s Golden Jubilee. In honor of the UAE’s national day, ALPEX Global wishes to express its appreciation to the nation and its rulers. Throughout its history, this country has been characterized by growth, diversity, and freedom. In honor of the UAE national day, our creative team designed special social media posts. In conclusion, ALPEX employees have begun shopping for Secret Santa gifts.
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