Crypto World
China building gold-backed digital assets? Bessent says…
Senator Cynthia Lummis (R-Wyo.) wasted no time Thursday asking Treasury Secretary Scott Bessent the big question: Is China using blockchain to create a rival to American financial dominance?
Bessent told the Senate Banking Committee he “would not be surprised.”
Summary
- Bessent hints at gold-backed digital assets from China, but it’s unconfirmed.
- Hong Kong’s sandbox role allows China to explore new financial technologies, like a gold-backed digital asset, without directly involving mainland authorities.
- Why does it matter? It could potentially be a stable alternative to the dollar.
“We don’t know that for sure,” he added. “There are lots of rumors that China may be developing digital assets backed by something other than the RMB, perhaps gold-based. We haven’t seen that.”
So, what’s China’s game plan?
Apparently, Hong Kong is their “sandbox” — a financial testing ground where they can play with new ideas without getting mainland China too involved.
That means they can cook up gold-backed digital assets while keeping it on the down-low. A gold-backed asset could provide a stable store of value, which would directly challenge the dollar’s reserve currency status — especially since it wouldn’t be subject to U.S. monetary policy or sanctions.
Meanwhile, China’s digital yuan is still all about the RMB, so it’s not quite as rebellious.
Bessent didn’t stop there
When it came to Iran, he dropped this gem: Iranian leaders are moving money out “like crazy,” signaling “the end may be near” for the current regime. In a moment of unexpected drama, he likened it to “the rats leaving the ship.” If that’s not a metaphor for the ages, I don’t know what is.
And in a final mic-drop moment, Bessent stressed the importance of passing the Clarity Act, acknowledging that applying capital gains tax on cryptocurrency is a complex mess. The complexity of crypto taxes? It’s no surprise there.
In conclusion, the world of digital assets, gold-backed currencies, and escaping rats has never been more thrilling. Stay tuned for the next episode of “China’s Sandbox Adventures.”
Editor’s note: The press release below outlines how Binance is repositioning its role in the MENAP region as crypto markets mature, shifting emphasis from pure trading activity to regulated infrastructure and institutional integration. It details recent regulatory approvals, compliance milestones, and partnerships across the UAE, Pakistan, and Bahrain, highlighting a strategy focused on long-term adoption rather than rapid user growth. The announcement reflects broader market trends toward regulatory alignment, embedded financial services, and scalable digital-asset infrastructure as governments and institutions across the region formalize their approach to crypto.
Key points
- Binance is emphasizing infrastructure, compliance, and institutional partnerships over speculative trading growth.
- The ADGM FSRA license positions Binance within one of the world’s most stringent regulatory frameworks.
- In Pakistan, Binance has secured AML registration and begun a phased path toward local licensing.
- A Bahrain partnership aims to integrate regulated crypto services directly into a bank’s mobile app.
Why this matters
The MENAP region is moving quickly from crypto experimentation to regulated adoption. As governments and banks seek compliant ways to offer digital-asset services, platforms with proven scale, governance, and regulatory credibility gain a structural advantage. Binance’s recent milestones illustrate how crypto firms are increasingly aligning with traditional financial systems, shaping how digital assets may be accessed, supervised, and used by institutions and consumers across the region.
What to watch next
- Final regulatory approvals tied to announced licenses and registrations.
- Implementation timelines for bank-led crypto integrations in Bahrain.
- Further regional partnerships with financial institutions or regulators.
As the global crypto market enters a more mature phase, a quiet transformation is underway. What was once driven by speculative trading and rapid experimentation is increasingly being shaped by institutional participation, regulatory clarity, and real-world financial integration.
At the center of this shift is a growing focus on infrastructure, the systems, liquidity, compliance frameworks, and technical rails that allow digital assets to operate at scale. Binance, long known as the world’s largest cryptocurrency exchange, currently serving more than 300M users, is repositioning itself to reflect this new reality: not simply as a trading platform, but as core crypto infrastructure supporting the next generation of digital finance.
This evolution is particularly visible across the region, where regulators and financial institutions are actively building frameworks for digital-asset adoption. From the UAE to Bahrain to Pakistan, Binance’s recent regulatory milestones and partnerships point to a strategy centered on long-term integration rather than short-term growth.
From Trading Venue to Infrastructure Layer
Global market data illustrates how crypto usage is changing. On-chain activity reached record levels in 2025, with both spot and derivatives volumes rising, signaling a transition from early experimentation to consistent execution. At the same time, stablecoins have become a foundational settlement layer, processing more than $3.5 trillion in daily volume, surpassing traditional payment networks. These trends favor platforms that can operate at scale, with deep liquidity, technical reliability, and regulatory alignment. In 2025 alone, more than $34 trillion was traded on Binance’s platform, with spot volume exceeding $7.1 trillion. All-time trading volumes across products have now surpassed $145 trillion, underlining Binance’s central role in global crypto liquidity.
Compliance Becomes a Catalyst for Growth
As crypto markets mature, compliance is increasingly seen not as a constraint, but as a driver of sustainable growth. Binance’s compliance investments have expanded significantly alongside its growth. In 2025, the company’s controls prevented $6.69 billion in potential fraud and scam losses, protecting more than 5.4 million users. Binance also processed over 71,000 law-enforcement requests globally, reflecting deeper cooperation with authorities and an increasingly formalized compliance posture. For MENAP markets in particular, where regulators are designing digital-asset frameworks in parallel with rapid fintech growth this compliance-first approach has become central to Binance’s regional strategy.
ADGM License Sets a New Regulatory Benchmark
A key milestone in this shift was Binance securing a comprehensive global license from Abu Dhabi Global Market’s Financial Services Regulatory Authority (FSRA), widely regarded as one of the world’s most respected financial regulators. The authorization represents a world-first for the crypto industry and positions Binance among a select group of global financial institutions operating under ADGM’s regulatory framework. The license confirms compliance with stringent international standards covering governance, risk management, and consumer protection. The FSRA license therefore serves as a gateway for deeper institutional relationships, from custody and payments to cross-border partnerships.
Pakistan: Phased Regulation and Market Entry
Binance is advancing a phased regulatory strategy in Pakistan, one of the region’s largest and fastest-growing digital economies. Following high-level engagements with government stakeholders, Binance has obtained Anti-Money Laundering (AML) registration under Pakistan’s Virtual Assets Regulatory Authority (PVARA). The move marks a significant step toward full local licensing and incorporation.
In parallel, Binance has signed memorandums of understanding with local fintech players, including JazzCash, to explore cooperation on education initiatives and compliant digital-asset products, signaling a longer-term commitment to ecosystem development rather than transactional market entry.
Bahrain: Integrating Crypto Into Banking
In Bahrain, Binance’s strategy has moved further into traditional financial infrastructure through a partnership with Bank of Bahrain and Kuwait (BBK), one of the Kingdom’s leading retail and corporate banks. Under a memorandum of understanding, BBK plans to integrate Binance Bahrain’s regulated Crypto-as-a-Service (CaaS) solution directly into its mobile banking app, subject to final approval from the Central Bank of Bahrain. The integration would allow customers to trade and manage crypto assets within their existing banking environment, alongside traditional financial products.
The partnership positions BBK as the first bank in the GCC to join the Binance Link Program and reflects a broader trend toward embedded digital-asset services within mainstream financial platforms. For regulators and policymakers, such models offer a pathway to crypto adoption that maintains oversight while expanding access through established banking channels.
Infrastructure for the Next Phase of Digital Finance
Across the MENAP region, the emphasis is on how digital assets can be integrated responsibly into national financial systems, payment networks, and institutional investment frameworks.
“The next chapter of crypto is being built on infrastructure, not speculation,” said Tarik Erk, Regional Head for MENAT and Senior Executive Officer Abu Dhabi at Binance. “In MENAP, we’re working closely with regulators, financial institutions, and partners to create a compliant, secure, and scalable digital-asset ecosystem. Our ADGM license, regulatory progress in Pakistan, and partnerships in Bahrain reflect a clear shift from standalone platforms to integrated financial infrastructure that supports long-term adoption and institutional trust.”
As the region positions itself as a global hub for digital finance, platforms that can combine scale, liquidity, regulatory credibility, and technical depth are likely to play a defining role. For Binance, the message is clear: the future of crypto in the region is being built not on trading alone, but on the infrastructure that makes digital finance sustainable.
Crypto asset manager Bitwise has become the first to file with the US regulator to launch an exchange-traded fund (ETF) dedicated to Uniswap.
The fund targets exposure to Uniswap (UNI), the governance token of the leading decentralized exchange protocol. The ETF filing marks one of the pivotal moments for DeFi.
“The Trust’s investment objective is to seek to provide exposure to the value of Uniswap held by the Trust, less the expenses of the Trust’s operations and other liabilities,” the Thursday filing with the US Securities and Exchange Commission (SEC) read.
Uniswap is a decentralized exchange (DEX) built on Ethereum that offers token swaps without an intermediary. The regulatory authorities are currently reviewing the Bitwise application.
Bitwise Forms Delaware Statutory Trust for Uniswap ETF
The asset manager initially registered a Delaware statutory trust for a potential Uniswap fund on January 27, as a routine legal step that usually precedes an SEC filing.
— CW (@CW8900) January 28, 2026
UPDATE: Bitwise registers for a $UNI ETF in Delaware, indicating filing may come soon. pic.twitter.com/4ObJo38PBv
The move positioned Bitwise to pursue a decentralized finance protocol-tied ETF to later advance to a federal filing.
The registration follows after the SEC backed off its investigation into Uniswap Labs, the Brooklyn-based company, in February 2025. The SEC charged Uniswap for operating as an unregistered securities exchange and issuing an unregistered security.
If approved by the regulator, the Coinbase Custody Trust Company would act as the custodian for the Bitwise Uniswap ETF.
Wider Crypto Market Slump Pulls UNI Token Down by Over 16%
UNI, the native token of Uniswap, has plummeted 16.59% to $3.15 in the past 24 hours, underperforming a broader market sell-off.
The drop is part of a severe crypto-wide correction. The total market cap fell 9.84% in 24 hours, with the Fear & Greed Index hitting “Extreme Fear” at 5.
Besides, a key driver was a massive $1.03 billion in Bitcoin long liquidations, which forced leveraged positions to unwind across the board. UNI is trading at $3.15 at press time, per CoinMarketCap data.
The post Bitwise Files S-1 With SEC to Launch Uniswap-Focused ETF, UNI Token Slumps 16% appeared first on Cryptonews.
Crypto World
Bitcoin’s volatility spikes to its highest since FTX’s collapse as prices crater to nearly $60,000
Bitcoin’s Wall Street-like fear gauge has spiked to its highest level since the collapse of the FTX exchange in 2022, signaling intense market panic as prices plummeted to nearly $60,000.
Volmex’s bitcoin volatility index (BVIV), which represents the annualized expected price turbulence over four weeks, jumped to nearly 100% from 56% on Thursday.
The index serves as a crypto equivalent to Cboe’s VIX, the so-called fear/panic gauge, which indicates the 30-day implied volatility of the S&P 500 and rises during market panics as traders bid up options prices to hedge against declines in the index.
The BVIV does the same more often than not, rising during market panics as observed on Thursday.
“A wave of panic swept through crypto markets this week, correlated to a sharp risk-off move across various asset classes. Bitcoin’s 30-day implied volatility, as measured by the BVIV Index, surged from just over 40 to 95 in a matter of days, levels not seen since the infamous collapse of FTX at the end of 2022,” Cole Kennelly, founder and CEO of Volmex Labs, told CoinDesk in a Telegram chat.
Implied volatility is influenced by demand for options, or derivative contracts that help traders make asymmetrical gains from uptrends in the underlying asset and hedge downside risks. Call options are used to bet on the upside, while put options are typically bought as insurance against price drops.
On Thursday, traders scrambled to buy Deribit-listed options, especially puts, as bitcoin’s price tanked from $70,000 to nearly $60,000. The top five most traded options of the past 24 hours are all puts at strikes ranging from $70,000 to $20,000, according to data source Deribit Metrics. The $20,000 put represents a bet that prices will fall below that level.
“Volatility markets reacted sharply to last night’s price drop. Front-end volatility surged as dealers adjusted for gamma [near-term risks]. Short-dated vols led the surge, showing higher demand for protection, while longer-dated vols lagged, keeping the volatility curve steeply inverted,” Jimmy Yang, co-founder of institutional liquidity provider Orbit Markets, told CoinDesk.
Yang’s clients rushed to buy downside protection, fearing the price crash could devastate digital asset treasuries that bought bitcoin at higher levels. These firms could now liquidate at a loss, leading to a deeper slide in bitcoin’s price.
“With significant uncertainty still ahead — particularly around the DATs and the risk of further unwind cascades, we’ve seen a lot of client demand for downside protection,” he added.
Bitcoin’s price has bounced to over $64,000 at the time of writing, an over 5% recovery from overnight lows, according to CoinDesk data. Yang expects volatility to stabilize.
“Sentiment is deep in extreme fear, but bitcoin’s price seems to have found a base near $60K. If price action stabilizes, volatility looks stretched and could quickly pull back,” he said.
Crypto market sentiment has slumped to its lowest level in over three and a half years amid Bitcoin falling by double-digit percentage points to a low of around $60,000.
The Crypto Fear & Greed Index fell to a score of 9 out of 100 on Friday, indicating “extreme fear” in the market and hitting its lowest point since June 2022, when sentiment and the market fell in the wake of the collapse of the Terra blockchain a month earlier.
The index has been at a low for the last fortnight as Bitcoin (BTC) has tanked 38% from its 2026 high of $97,000 in just three weeks, wiping out all gains for the past sixteen months.
Bitcoin falls to $60,000 on Coinbase
Bitcoin fell to its lowest level since October 2024 at a little over $60,000 on Coinbase in early trading on Friday morning, according to TradingView.
It is currently trading at just over $64,000 after dumping 13% over the past 24 hours and losing over $10,000 in its largest daily loss since mid-2022.
Related: Coinbase premium hits yearly low, hinting at institutional selling
Bitcoin has now collapsed below the 200-week exponential moving average, a long-term trend indicator, which has only previously happened in the depths of a bear market. It is currently 50% down from its all-time high of $126,000 in early October.
Over the past 24 hours, more than 588,000 traders were liquidated for $2.7 billion, 85% of them were leveraged longs predominantly in Bitcoin, according to CoinGlass.
Tech stock slump and Fed caution behind the crash
Jeff Ko, chief analyst at CoinEx Research, told Cointelegraph that Bitcoin’s more than 20% drawdown in a week comes alongside a selloff in US tech stocks “where stretched valuations and lingering concerns around an artificial intelligence-driven bubble have long been highlighted by the market.”
“Even Amazon suffered a double-digit decline overnight following a mixed earnings release,” he added. “Investors are increasingly reassessing Bitcoin’s failure to function as a safe haven compared to gold.”
LVRG Research director Nick Ruck said Bitcoin’s fall and a broader market decline comes amid “heightened risk aversion” triggered by “softer US job market signals, including rising unemployment claims that raise doubts about sustained economic strength and potential Fed caution on aggressive rate cuts.”
Magazine: DAT panic dumps 73,000 ETH, India’s crypto tax stays: Asia Express
Nvidia shares slid to their lowest level since December, falling roughly 20% from record highs as an accelerating rotation from growth to value pushed the world’s most valuable company into bear-market territory.
Similarly, Palantir stock dropped to $130 as crypto.news predicted before its earnings.
Summary
- NVIDIA share price dropped into a bear market on Thursday.
- There are signs that investors are dumping growth stocks.
- Technical analysis points to a drop to $150.
Why is Nvidia down?
The ongoing Nvidia stock crash mirrors that of other growth companies. For example, AMD, its key competitor, tumbled to $194, down 27% from its December high.
The software sector slid into a technical bear market, with the iShares Expanded Tech-Software ETF (IGV) down more than 20% as investor anxiety around AI disruption fueled what some are calling a “SaaSpocalypse.” Fears that autonomous AI agents could replace traditional software licenses have weighed on stocks such as Palantir, which continued to sink.
Wedbush analyst Dan Ives pushed back on the pessimism, calling the selloff a “software garage sale” and arguing the market is pricing in an unrealistic doomsday scenario. Ives said enterprise software remains deeply embedded, citing data security risks and migration costs. He named Palantir, Microsoft, Snowflake, Salesforce, and CrowdStrike as long-term winners despite the recent panic.
On the other hand
Value companies are doing well, with the Vanguard Value ETF and the Schwab U.S. Dividend ETF (SCHD) rising by nearly 10% this year. They are all trading at their all-time highs.
Nvidia stock has crashed as traders reflect on key concerns. For example, there are concerns about whether big-tech companies will continue their spending. These concerns accelerated after Microsoft’s report showed that its cloud revenue slowed in the fourth quarter. Its stock has dropped to $400, down by 27 from its all-time high.
Therefore, there is a risk that the company and other top hyperscalers will begin to pare back their spending to please investors concerned about return on investment.
NVIDIA stock has sunk as investors remain concerned about its Chinese business. A report by the Financial Times said that the Trump administration was still conducting a review on sales of H200 chips to China. Beijing has allowed ByteDance, Tencent, and Alibaba to buy 400k chips.
At the same time, Nvidia’s biggest customers are working on their own ASIC chips. Google is working on its TPU chips, while Amazon, Microsoft, and OpenAI are hoping to launch theirs soon. This development may lead to competition and lower sales in the long-term.
The next key catalyst for Nvidia’s stock price is its financial results, which will provide more information about its business. Analysts anticipate its revenue will come in at $67 billion, up over 50% from 2024. Its annual revenue is expected to exceed $500 billion by 2027 or 2028.
NVIDIA share price technical analysis
The daily chart shows that the NVDA share price is flashing red signals. It has formed a head-and-shoulders pattern and is now at the neckline. This is one of the most common bearish reversal sign.
It has moved below the 23.6% Fibonacci Retracement level. Also, it retreated below the 50-day moving average and the Supertrend indicator. Therefore, the most likely forecast is that it continues falling, potentially to $150, the 50% retracement level.
Editor’s note: Dubai Land Department has opened PropTech Connect Middle East 2026 with a programme centered on regulation-led innovation, digital transformation, and institutional capital in real estate. The first day combined policy direction, market data, and practical discussions on PropTech, asset management, customer experience, and capital flows. Alongside keynote remarks, the department announced multiple memoranda of understanding aimed at strengthening public-private collaboration and accelerating digital adoption. The event positions governance, data, and AI as enablers of market efficiency while aligning sector innovation with Dubai’s long-term economic and real estate strategies.
Key points
- PropTech Connect Middle East 2026 launched in Dubai under the supervision of Dubai Land Department.
- Leaders highlighted digital transformation and AI as drivers of sustainable economic value in real estate.
- Eight MoUs were signed with developers to support innovation, transparency, and first-time buyers.
- An additional MoU targets the promotion of real estate investment funds and institutional participation.
- Specialised sessions addressed governance, data-driven regulation, asset management, and capital flows.
Why this matters
The conference underscores how regulation, technology, and investment are converging in one of the world’s largest asset classes. For builders and investors, the focus on data, AI, and digital infrastructure signals a push toward faster transactions, clearer governance, and scalable investment frameworks. For the region, it reflects Dubai’s role in shaping PropTech standards that support market resilience, institutional confidence, and long-term growth across the real estate ecosystem.
What to watch next
- Implementation and scope of the signed memoranda of understanding.
- Progress of initiatives linked to the Dubai PropTech Hub.
- Follow-up engagement between regulators and international market entrants.
- Outcomes from sessions focused on AI, data governance, and asset management.
Disclosure: The content below is a press release provided by the company/PR representative. It is published for informational purposes.
Dubai Land Department enriches PropTech Connect 2026 with strategic discussions on innovation, governance, and the future of real estate investment
Making its debut in Dubai with strong engagement and high-profile participation
- Signing of strategic agreements and partnerships to support innovation and expand the ecosystem of ownership and institutional investment.
- Majed Al Marri: Dubai is transforming real estate innovation into sustainable economic value through digital transformation and artificial intelligence.
- Matthew Maltzoff calls for high-impact partnerships and broader collaboration to accelerate innovation across the world’s largest asset class.
- Specialised sessions discussing PropTech, asset management, customer experience, and capital flows.
Dubai, United Arab Emirates, 4 February 2026: The activities of PropTech Connect Middle East 2026 officially kicked off today, Wednesday, under the organisation and supervision of Dubai Land Department (DLD), marking a strategic step that reflects its efforts to implement the vision of the wise leadership and the strategic directions of Dubai and the UAE to reinforce the emirate’s position as a global hub for real estate technology, accelerate digital transformation in the real estate sector, and align with the objectives of the Dubai Economic Agenda D33 and the Dubai Real Estate Strategy 2033.
The launch of the event was marked by the presence of senior government leaders, decision-makers, leading developers, investors, and global PropTech companies, underscoring the pivotal role of Dubai Land Department as a regulatory authority driving the development of an integrated real estate ecosystem and enhancing the market’s readiness for future requirements.
The first day of the event opened with a keynote address delivered by Matthew Maltzoff, CEO of PropTech Connect, in which he affirmed that the platform brings together leaders, innovators, and investors who share a unified vision to elevate the built environment through the adoption of advanced technologies and the development of high-impact partnerships capable of strengthening investment portfolios and unlocking new growth opportunities.
He called on participants to engage actively and contribute meaningfully to the discussions and dialogues, helping accelerate knowledge exchange and translate ideas into actionable opportunities that collectively and sustainably advance the world’s largest asset class.
Transforming Innovation into Sustainable Economic Value
During the event’s main session, Majed Al Marri, CEO of the Real Estate Registration Sector at Dubai Land Department, affirmed that Dubai’s hosting of the first regional conference fully dedicated to real estate technology reflects the emirate’s forward-looking vision under the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to solidify Dubai’s position as a global hub for innovation in the real estate sector.
He noted that the event comes in implementation of the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, in line with the objectives of the Dubai Economic Agenda D33 and the Dubai Real Estate Strategy 2033, particularly through the launch of the Dubai PropTech Hub as a strategic initiative aimed at transforming innovation into tangible economic value, with a strong focus on digital transformation and artificial intelligence.
Al Marri highlighted the pivotal role of Dubai Land Department in aligning technological innovation with regulatory frameworks, ensuring that digital solutions evolve from operational tools into drivers of sustainable economic value. He emphasised that fostering a competitive investment environment requires a flexible legislative framework, data-driven governance, and advanced digital infrastructure that enhance transparency, accelerate transaction processing, and improve overall market efficiency, in line with the requirements for long-term growth.
Al Marri also drew attention to the record-breaking performance indicators of Dubai’s real estate market at the beginning of 2026, with total real estate transaction values reaching approximately AED 111 billion and more than 22,108 transactions registered, reflecting notable growth compared to the same period last year. He noted that these figures underscore the market’s resilience and the effectiveness of DLD’s digital ecosystem.
Strategic Agreements to Strengthen Partnerships and Innovation in the Real Estate Market
On the sidelines of the conference, Dubai Land Department, in collaboration with the Dubai Department of Economy and Tourism, signed eight memoranda of understanding with real estate development companies, as part of efforts to support the First-Time Home Buyer Programme, strengthen public-private partnerships, and accelerate the adoption of advanced digital solutions. These agreements aim to enhance market efficiency, reinforce transparency, and improve the overall experience of investors and customers.
The agreements were signed with Samana Developers, Arada Developments, IRTH Signature Developments, Reportage Prime Properties, Qube Development, Manam Realty, Sky View Developments, and 4Direction Development.
In addition, Dubai Land Department signed a separate memorandum of understanding with Equitativa Dubai to launch and advance a global promotion initiative for real estate investment funds. The agreement aims to reinforce Dubai’s position as a global hub for institutional real estate investment and support the development of a robust legislative, regulatory, and promotional environment that enables the growth and sustainability of real estate investment funds, in line with the UAE’s strategic directions.
Workshop to Enhance Governance and Procedural Efficiency
As part of the first day’s programme, the event featured a specialised workshop bringing together Mohammed Yehya, Director of Real Estate Transactions at DLD, and Maryam Karmostaji, Manager of Jointly Owned Property Regulatory at DLD, moderated by Karim Hilal, Founder and CEO of ProTenders. The workshop focused on the role of technology, governance, and data-driven regulation in shaping the future of Dubai’s real estate sector.
During his intervention, Mohammed Yehya outlined the current priorities of Dubai’s real estate market, which centre on sustaining investor confidence, enhancing operational efficiency, and delivering long-term asset value. He explained that developers are increasingly focused on creating high-quality, future-ready assets aligned with end-user requirements, sustainability standards, and smart technologies. At the same time, investors continue to prioritise transparency, regulatory clarity, and stable returns within a globally competitive environment.
With regard to next steps following the conference, Mohammed Yehya emphasised Dubai Land Department’s openness to direct engagement with international companies seeking to enter or expand within the emirate’s real estate market, through its official platforms, investor services, partner networks, and ongoing sector initiatives. He also recommended engagement with strategic partners across Dubai’s economic ecosystem, including the Dubai International Financial Centre (DIFC) and Dubai Silicon Oasis, to provide an integrated framework that supports innovation, investment, and sustainable growth.
Jointly Owned Property in Dubai’s Real Estate Market
For her part, Maryam Karmostaji delivered a comprehensive overview of the concept of jointly owned property within Dubai’s real estate market, explaining that it applies to developments in which unit owners jointly own and manage common areas and shared facilities alongside their individual property ownership, across residential and mixed-use projects. She affirmed that such developments are governed by a clear regulatory framework overseen by Dubai Land Department, which defines ownership rights, responsibilities, and governance structures, ensuring transparency, protecting owners’ interests, and supporting the sustainability and long-term value of shared assets.
She further noted that Dubai Land Department has established an integrated regulatory framework for the management of jointly owned property, with a strong focus on transparency and rights protection. This framework clearly defines the roles and responsibilities of owners, owners’ associations, and management companies, while strengthening accountability and governance. She added that regulatory oversight, service charge governance, and the adoption of digital systems play a critical role in safeguarding owners’ interests, enhancing asset value, and ensuring the long-term sustainability of jointly owned developments.
Specialised Sessions Shaping the Future of the Real Estate Sector
The conference programme featured a series of high-impact sessions focused on practical objectives that support the development of the real estate sector, addressing key themes shaping the industry’s ongoing transformation. In the session titled ‘Building the Future: Dubai, Design, and the New Era of Real Estate,’ featuring Masih Imtiaz, CEO of Imtiaz Developments, the discussion highlighted the fundamental shift of PropTech from a supporting function into a core driver reshaping how cities are designed, developed, and operated.
Within the data-driven transformation track, the session ‘Catalysts of Change: Tech, Data, and the New Frontiers for Real Estate’ explored how data is evolving from a traditional reporting tool into a competitive advantage that enables faster decision-making and accelerates execution. Meanwhile, the session ‘Enhancing Tenant Experience and Building Stronger Communities within Developments’ focused on the shift in user expectations and the role of hospitality-inspired concepts, digital services, and smart connectivity in creating more engaging communities, with a direct impact on occupancy rates, tenant loyalty, and the long-term value of assets.
Reshaping the Global Real Estate Investment Landscape
At the level of global investment, the session titled ‘The Dominance of Capital Flows: Middle East Investment Strategies on the Global Real Estate Stage’ examined the growing role of capital originating from the region in reshaping the global real estate investment landscape.
In the context of portfolio management, the session ‘Tech-Driven Asset Management’ explored how artificial intelligence and automation are increasingly being deployed as practical tools to enhance net operating income, increase occupancy rates, and improve the efficiency of maintenance and energy management.
The session ‘Constructing Tomorrow: Scaling Innovation and Tech for Mega Projects’ addressed the requirements for embedding innovation throughout the full lifecycle of large-scale developments, from planning through to long-term operations. The discussion underscored the importance of the right tools, partnerships, and leadership models to move innovation from limited pilot phases to rapid, large-scale implementation with greater efficiency.
The mega projects track concluded with the session ‘Building Smart at Scale: Embedding Technology and Sustainability in the Middle East’s Mega Projects,’ which emphasised the need to embed smart solutions and sustainability from the earliest planning stages to ensure operational readiness, performance, and safety at scale.
A Platform Driving Transformation and Connecting Regulation, Innovation, and Investment
The conference is welcoming more than 4,000 participants and over 1,500 companies specialising in real estate technology, reaffirming PropTech Connect Middle East 2026’s role as a leading platform, led by Dubai Land Department, to connect regulation, innovation, and investment within a robust institutional framework driven by a clear, forward-looking vision. This approach supports the competitiveness of Dubai’s real estate market and reinforces the sustainability of its growth at both regional and global levels.
Betterment has confirmed a security incident in which attackers exploited social engineering to access third-party tools used by the company, exposing customer contact data and enabling a targeted crypto-themed phishing attempt. The breach, detected on January 9, did not involve compromised passwords or customer accounts, according to the firm. Still, the episode highlights how marketing and operations platforms can become a weak link, especially when attackers leverage trusted communication channels to deceive users.
Key takeaways
- Unauthorized access occurred on January 9 through social engineering targeting third-party platforms used for marketing and operations.
- Exposed data included names and email addresses, and in some cases postal addresses, phone numbers, and dates of birth.
- Attackers sent a fraudulent crypto-related message to a subset of customers, attempting to solicit funds.
- No customer accounts, passwords, or login credentials were accessed, according to the company’s investigation.
- Betterment engaged CrowdStrike for forensics and plans a post-incident review within 60 days.
Market context: Social engineering and phishing remain among the most common attack vectors in fintech, with third-party SaaS tools increasingly targeted as firms expand digital communications and customer outreach.
Why it matters
The incident underscores the risks associated with outsourced platforms that handle customer communications. Even when core infrastructure remains secure, attackers can exploit peripheral systems to reach users at scale.
For customers, the breach serves as a reminder that legitimate-looking messages can be deceptive, particularly when they reference popular investment themes like crypto. For fintech firms, it reinforces the need to secure not only internal systems but also the broader vendor ecosystem.
What to watch next
- Publication of Betterment’s post-incident review within the next 60 days.
- Results from the independent data analytics review assessing potential privacy risks.
- Any regulatory or customer notifications that follow the final investigation.
- Changes to Betterment’s controls and training aimed at preventing social engineering.
Sources & verification
- Betterment customer updates published between January 9 and February 3, 2026.
- Company statements confirming forensic findings and remediation steps.
- Details of the phishing message and affected data categories described in official updates.
How the breach unfolded and what it revealed
Betterment disclosed that an unauthorized individual gained access to certain company systems on January 9 by impersonating legitimate users and exploiting trust-based workflows. Rather than breaching core technical infrastructure, the attacker leveraged social engineering tactics against third-party software platforms that support marketing and operational functions.
This access allowed the attacker to view and extract customer contact information. According to the company, the data exposure primarily involved names and email addresses, though in a subset of cases it also included physical addresses, phone numbers, and birthdates. The total number of affected customers has not been disclosed.
Using the compromised access, the attacker distributed a fraudulent message that appeared to originate from Betterment. The notification promoted a fake crypto-related opportunity, claiming that users could triple the value of their holdings by sending $10,000 to a wallet controlled by the attacker. The message was sent to a limited group of customers whose contact details were accessible through the breached systems.
Betterment said it identified the unauthorized activity on the same day and immediately revoked access to the affected platforms. An internal investigation was launched, supported by the cybersecurity firm CrowdStrike, to determine the scope of the intrusion and verify whether customer accounts or credentials were at risk.
Subsequent forensic analysis found no evidence that the attacker accessed Betterment customer accounts, passwords, or login credentials. The company emphasized that multiple layers of security protected account-level systems and that the breach was confined to contact data and communications tooling.
In the days following the incident, Betterment contacted customers who received the fraudulent message and advised them to disregard it. The firm reiterated that it would never request passwords or sensitive personal information via email, text, or phone calls.
The security incident coincided with additional disruptions in mid-January. On January 13, Betterment experienced intermittent outages to its website and mobile app caused by a distributed denial-of-service attack. The company restored partial service within about an hour and full access later that afternoon, stating that the DDoS event did not compromise account security.
By early February, Betterment provided further updates on its investigation. The company confirmed that while some customer data had been accessed, the privacy impact appeared limited to contact information. An independent data analytics firm was engaged to review all accessed data, including information that a group claiming responsibility for the breach alleged it had posted online.
Betterment also noted that it plans to publish a comprehensive post-incident review within 60 days. In parallel, the company said it is strengthening controls and training programs to better defend against social engineering attempts, which rely on deception rather than technical exploits.
One aspect of the disclosure drew scrutiny from security observers. As of publication, Betterment’s security incident webpage included a “noindex” directive in its source code, instructing search engines not to index the page. While such tags are sometimes used during active investigations, they can make it harder for customers and the public to discover information about breaches through web searches.
The incident reflects a broader pattern across the fintech and crypto-adjacent sectors, where attackers increasingly target trusted communication channels instead of core systems. As companies integrate more third-party tools to manage customer relationships, marketing campaigns, and operational workflows, the attack surface expands beyond traditional network defenses.
For Betterment, the episode has so far not resulted in confirmed financial losses or account takeovers. Still, it highlights how quickly trust can be tested when attackers successfully impersonate a well-known financial platform. The company’s forthcoming post-incident review will likely provide further insight into how the breach occurred and what safeguards will be implemented to reduce the risk of similar attacks in the future.
Bitcoin rebounded sharply in Asia on Friday after a fresh wave of selling briefly pushed the token toward $60,000, extending a brutal drawdown that has now taken the world’s largest cryptocurrency more than 50% below its October peak.
BTC fell as much as 4.8% to around $60,033 during late U.S. hours, before snapping back to as high as $65,926. The move followed Thursday’s 13% slide, bitcoin’s steepest one-day drop since November 2022, when the collapse of Sam Bankman-Fried’s FTX triggered a marketwide panic.
The bounce came as liquidations surged again, clearing out leveraged positions that had built up during the week’s decline.
Roughly $700 million in crypto bets were wiped out over the past four hours, according to liquidation tracker CoinGlass, including about $530 million in long positions and $170 million in shorts. That mix suggests traders were first crushed on the way down, then caught leaning the wrong way on the rebound.
The move also appears to have drawn in spot buyers, with $60,000 acting as a psychological line that traders have been watching for weeks.
Damien Loh, chief investment officer at Ericsenz Capital, said the rebound points to “strong support” around that level, but warned sentiment remains fragile given the broader market backdrop.
Altcoins mirrored bitcoin’s whipsaw. Solana at one point fell as much as 14% before erasing those losses entirely within hours, shows how quickly risk appetite is flipping as liquidity thins and forced selling takes over.
The broader crypto market has been shaky since a series of liquidations in October rattled confidence, and the latest drawdown has been amplified by turbulence in global markets, where investors have been dumping speculative assets.
Bitcoin’s weakness is now spilling into crypto-linked balance sheets. Strategy, the company led by Michael Saylor, reported a $12.4 billion fourth-quarter net loss on Thursday, driven by mark-to-market declines in its bitcoin holdings.
Even with Friday’s bounce, traders say the market still looks like one being pushed around by leverage rather than conviction.
Software stock selling continued Wednesday morning as the rest of the market traded sideways.
The Nasdaq Composite dropped 0.9%. The S&P 500 was down 0.3%. The Dow Jones Industrial Average rose 103 points, or 0.2%.
Wall Street is suddenly very concerned that artificial intelligence apps could eventually usurp popular software firms. The latest wave of worries were in response to an AI legal tool from Anthropic that sent shares of legal and data software firms tumbling on Tuesday.
Gemini, the crypto exchange founded by the Winklevoss twins, is retreating from three major markets and slashing 25% of its staff as it recalibrates its global operations. In a Thursday disclosure, the firm cited artificial intelligence-driven automation that makes engineers significantly more efficient and a tougher operating environment in the United Kingdom, European Union, and Australia as primary drivers for the pivot. The decision underscores a broader push by crypto players to optimize cost structures amid a difficult macro cycle and regulatory headwinds. Gemini said it will concentrate resources on the US, where it believes capital markets are the strongest, and on developing its prediction market platform, Gemini Predictions, launched in December 2025.
Key takeaways
- Exit from the United Kingdom, European Union, and Australia accompanied by a 25% staff reduction, driven by AI-enabled efficiency gains and higher operating costs in those regions.
- Strategic shift toward the US market and the expansion of Gemini Predictions, a prediction market platform that debuted in December 2025 and has since grown to thousands of users.
- Prediction market momentum: quarterly growth in 2024 and early 2026 shows rising activity, with tens of millions of dollars in daily volumes and incumbents like Polymarket and Kalshi dominating the space.
- Broader market context: crypto prices have weakened during a downturn sparked by a October flash crash and regulatory uncertainty surrounding the CLARITY Act, complicating international expansion for crypto firms.
- The move highlights a strategic bet on data-driven markets and US-centric product development as a path to scale in an environment of tightening liquidity and evolving policy debates.
Market context: The exit comes amid a period of liquidity tightening and regulatory headwinds for the crypto sector. While international expansion has become harder, the emergence of prediction markets as a growth vertical has gained attention, even as liquidity remains concentrated among a few established platforms.
The decision underscores Gemini’s recalibration of its product portfolio around US-based opportunities. By prioritizing Gemini Predictions, the company is signaling that data-driven forecast markets could become a meaningful facet of mainstream crypto activity, potentially diversifying revenue beyond traditional custody and trading services.
Why it matters
The shift to a US-centric strategy matters for users and investors who are watching how crypto firms monetize niche segments beyond spot trading. Prediction markets—where participants bet on outcomes that pay out based on real-world events—have attracted interest as a way to hedge risk or speculate on probability, particularly around policy developments and elections. Gemini’s emphasis on this line of business aligns with a broader industry pivot toward platform-based services and synthetic markets that can scale with fewer physical infrastructure requirements than cross-border exchange operations.
For builders, the development of Gemini Predictions offers another data-rich venue to innovate around markets for information. The platform’s growth metrics cited by Gemini—thousands of users and a meaningful trading volume since its December 2025 launch—suggest there is appetite for structured market-based forecasting within crypto ecosystems. If these platforms can sustain liquidity and deliver low-friction experiences, they could reshape how users interact with information and risk in the digital asset space.
Competitively, the landscape remains led by Polymarket and Kalshi, which together command a substantial share of 24-hour prediction market volume. The dominance of a few incumbents highlights both the opportunity and the execution challenge for entrants attempting to carve out meaningful market share in a relatively nascent sector. The trajectory of Gemini Predictions will be watched as a proxy for whether the broader crypto market can translate interest in prediction markets into durable user engagement and revenue.
The international retreat also mirrors a broader caution among crypto operators as the industry grapples with macro headwinds and uncertain policy signals. The October flash crash that rattled asset prices and the stalled CLARITY Act—an anticipated US market-structure bill—have tempered enthusiasm for aggressive cross-border expansion. In that context, Gemini’s decision to concentrate resources on a domestically focused initiative may be a pragmatic bet on a clearer regulatory path and stronger demand within the US ecosystem.
Gemini asserts that America’s capital markets are unrivaled, a contention echoed by the firm’s leadership as it frames the US as the primary arena for future growth. The company’s push into predictions dovetails with a broader investor interest in alternative data and event-driven markets, where outcomes—such as policy decisions, elections, or corporate milestones—can be translated into traded forecasts. The announcement notes that Gemini Predictions has already attracted more than 10,000 users and generated about $24 million in trading volume since its launch, illustrating a tangible early traction that could underpin longer-term expansion plans in a US-centric environment.
The macro backdrop remains a critical driver behind the shift. Crypto markets have faced a prolonged downturn since a sharp October selloff, and the industry continues to weigh regulatory developments that could unlock or constrain new business lines. The CLARITY Act, a widely discussed US market structure proposal, has stalled, injecting a measure of policy uncertainty into expansion plans that rely on a favorable regulatory framework. In this context, concentrating on a domestic, potentially more predictable regulatory environment could help Gemini accelerate product development and user acquisition within a single jurisdiction before exploring broader international opportunities again.
What to watch next
- Metrics for Gemini Predictions: user growth, total trading volume, and new features or markets added in the US.
- Any re-entry or gradual expansion into other regions as regulatory frameworks evolve or as cost structures stabilize.
- Regulatory developments around the CLARITY Act and other US crypto market structure discussions that could influence platform-based offerings.
- Market share dynamics among prediction market platforms (Polymarket, Kalshi, and entrants) as liquidity and user demand evolve.
Sources & verification
- Gemini’s official announcement outlining the UK/EU/Australia exit, staff reductions, and a pivot to US-focused initiatives, including Gemini Predictions.
- Dune Analytics: prediction market overview and liquidity data used to illustrate market concentration and volume trends.
- Data points on Gemini Predictions: user counts and trading volume since launch (as cited in Gemini’s announcement).
- Cointelegraph coverage referencing US election-driven growth in crypto prediction markets and related market dynamics.
Gemini pivots to US-focused strategy as international markets wind down
Gemini’s Thursday disclosure makes clear that the firm intends to realign resources toward areas with higher growth potential and clearer path to scale. The company argues that foreign markets have been hard to win for a blend of regulatory complexity and operational friction, which has translated into a higher cost base and slower execution. The closure of UK, EU, and Australian operations reduces a layer of regulatory exposure and overhead that, in Gemini’s view, did not translate into commensurate demand. The 25% workforce reduction compounds this recalibration, reflecting a broader trend among crypto firms seeking to optimize cost structures in a market characterized by slower-than-expected adoption in some geographies.
At the core of the pivot is Gemini Predictions, the platform launched in December 2025 as part of the company’s broader push into event-based markets. The idea is to position prediction markets as a central pillar of the firm’s platform, with an ambition to become as large as, or larger than, traditional capital markets in the long run. While early metrics—10,000 users and $24 million in trading volume to date—signal credible traction, the path to scale will depend on maintaining liquidity, expanding the universe of tradable events, and delivering a user experience that can compete with incumbents in a market that already shows concentration of activity among a few established players. The platform’s visibility increased during periods of high political and economic uncertainty, where event-driven forecasting can provide a structured way to hedge or speculate on outcomes.
The strategic emphasis on the US market is notable given the size and maturity of American financial markets, but it also places Gemini in a framework where regulatory clarity could unlock new product use cases. While the CLARITY Act remains unsettled, the company’s approach suggests that a domestic, steady regulatory ground could enable more features, partnerships, and integrations that augment the value proposition of prediction markets for retail and professional participants alike. The shift may also influence how other exchanges and fintechs allocate resources between international expansion and US-focused product development, particularly for offerings that blend traditional financial concepts with blockchain-enabled capabilities.
In the broader crypto ecosystem, the exit from several major regions comes as digital asset prices continue a downcycle that began amid a complex mix of macro pressures and industry-specific headaches. The ongoing debate over crypto market structure and the pace of regulatory reform has kept some companies cautious about international expansion while emphasizing investments in products with clearer revenue models and user engagement metrics. Gemini’s decision to lean into predictions reflects a calculated wager that forecasting markets—grounded in data and user participation—could become a durable and scalable revenue stream even as the broader trading ecosystem faces volatility and scrutiny.
Ultimately, the trajectory of Gemini Predictions will be a useful barometer for this niche within crypto: can a prediction market platform, backed by a legacy exchange, attract sustained liquidity and mainstream interest? If the early momentum continues, the US-centric focus could accelerate product development, generate recurring revenue through offerings tied to real-world events, and deepen user engagement as traders seek structured ways to gauge probabilities in a fast-evolving landscape.
As the industry continues to navigate a shifting regulatory and macro backdrop, Gemini’s latest moves illustrate a pragmatic approach: shrink exposure where the cost-to-benefit ratio is unfavorable, and double down on product bets that align with evolving user demand and policy trajectories. Whether Gemini Predictions becomes a defining growth driver for the firm remains to be seen, but the current strategy signals a deliberate pivot toward building scalable, data-driven markets within the most active financial ecosystem in the world—the United States.
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