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Solana becomes ecosystem partner of Dubai free zone

The Solana Foundation has become an ecosystem partner for the Dubai Multi Commodities Centre, one of the free economic zones in the United Arab Emirates.

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The Solana Foundation has become an ecosystem partner for the Dubai Multi Commodities Centre, one of the free economic zones in the United Arab Emirates.

According to the announcement from Oct. 15, with its blockchain platform, Solana will provide technical and business development support to any DMCC Crypto Centre member. The company will also deliver webinars and educational courses on various Web3 topics and extend its already-operating grant program at DMCC.

Solana’s existing partners will, in turn, get privileged treatment in the DMCC, according to the centre’s CEO, Ahmed Bin Sulayem.

The list of DMCC’s ecosystem partners also includes the crypto exchange Bybit, digital asset market maker DWF Labs, Web3 incubator TDeFi, venture capital fund Brinc, and several other entities, while the total number of the centre’s members officially accounts for 23,000 companies.

Along with the Abu Dhabi Global Market and Dubai Silicon Oasis Authority, the DMCC is one of the three initial economic free zones established in the UAE to boost its investment climate. This trio will soon be joined by the Ras Al Khaimah Digital Assets Oasis, unveiled during Blockchain Life 2023.

By September 2023, the Solana network had occupied the global 10th spot in terms of the total value locked, with an equivalent of roughly $359 million.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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