MGX’s record crypto investment is getting ink in the foreign press

The expansion of the UAE’s crypto sector is making waves internationally, with Bloomberg interviewing BitOasis CEO Ola Doudin (watch, runtime: 6:19) on the factors driving this growth. MGX’s historic USD 2 bn stablecoin investment in Binance—the largest ever into a cryptocurrency company—is expected to enhance scalability, risk management, and innovation across the industry, Doudin said.

What’s fueling the growth? Doudin attributes the sector’s success to the UAE’s crypto-friendly regulatory frameworks and strong capital investment. As the industry scales and companies implement tighter security measures, regulatory oversight is expected to reduce risks and boost investor confidence, Doudin said.

ALSO- The foreign press is picking up news of Telegram CEO and founder Pavel Durov’s return to Dubai, which he announced in a message on Telegram. The Russian-born executive had been under investigation in France concerning criminal activities on Telegram. While the investigation is ongoing, Durov expressed appreciation for the legal process allowing his return. His return comes amid increasing scrutiny over the platform’s policies on handling illicit activity. (NYT | Reuters | Guardian)