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Streami Appoints New CEO, Boosting Hopes for Regulatory Crypto Approval in KoreaStreami, the operator of South Korean cryptocurrency trading platform Gopax, has been struggling for months to obtain approval for the change of its chief executive officer from the financial regulator. This challenge emerged following the significant investment by the global exchange Binance, which became the company’s largest shareholder in February. At that time, Leon Sing Foong, who was the Asia-Pacific head of Binance, was appointed as CEO.Photo by Andriyko Podilnyk on UnsplashCityLabs’ emergenceHowever, the recent appointment of a CEO from a Korean company could potentially represent a turning point for Streami. This development is particularly noteworthy because this local firm has acquired shares in Streami and is expected to further increase its stake in the company.In a report from local news outlet Bizwatch, it was revealed that Cho Young-joong, who currently serves as CEO of CityLabs, has been officially designated as the new CEO of Streami. This appointment now places him in a leadership position overseeing both the smart city infrastructure company and the cryptocurrency exchange operator.Before Cho’s appointment, CityLabs had made investment in Streami, contributing KRW 5.4 billion, which is approximately $4 million. This investment secured CityLabs an 8.55% stake in Streami, equivalent to a total of 76,308 shares of the company.Thanks to this development, Streami has finally filled the CEO position, ending a two-month vacancy that began after the resignation of former CEO Lee Joong-hoon in August. While it has been confirmed by a company official that Cho has been selected as the new CEO, he has not yet assumed his role.Frequent leadership changesIn the course of this year, Streami has already undergone three leadership changes. The stagnant administrative process at the Financial Intelligence Unit (FIU) compelled Leon Foong to step down from his position, which was subsequently assumed by Lee Joong-hoon, Streami’s former Vice President. However, despite Lee’s appointment, little progress was made during his tenure. Additionally, It’s also worth noting that there were reports indicating Leon Foong’s complete departure from Binance in late August.Several industry sources have suggested that Binance is likely to relinquish its status as Streami’s largest shareholder but could later participate in managing the company. The hope is that this strategic maneuver will assist Streami in securing approval from the FIU.

Bitget Targets MENA Business ExpansionBitget, the Seychelles-based cryptocurrency derivatives exchange, is setting its sights on the Middle East and North Africa (MENA) as the region emerges as a fast-growing crypto hub.The firm announced its expansion plans via a press release which was published on Thursday. With countries like the United Arab Emirates (UAE) and Bahrain embracing crypto, more exchanges are taking notice and entering the market. Bitget has now joined the ranks of a series of crypto companies seeking to establish a foothold in the region.Photo by Kyle Glenn on UnsplashIncreasing crypto adoption and interestCiting the region’s impressive crypto adoption rate, which accounted for 9.2% of global transactions between 2021 and 2022, Bitget is capitalizing on the growing interest in digital assets. The UAE alone experienced a remarkable 400% increase in registered crypto businesses over two years, driving a surge in global digital asset trading by 10%. Moreover, blockchain-related educational programs have tripled in the region, which contributes to 8% of the overall mining hash rate. All of these are creating a favorable environment for Bitget’s expansion.Dubai officeTo support its entry into the Middle East, Bitget has opened an office in the heart of Dubai and has already hired 60 new employees for various mid and back-office positions. The company aims to scale its Middle East team further, with plans to hire 30 to 60 more professionals over the next two years.Bitget is not alone in recognizing the potential of the Middle Eastern market. Bybit, another major cryptocurrency exchange, recently obtained local licenses to operate in the digital assets space in the UAE, having moved its global headquarters to Dubai in April.OKX, one of the largest exchanges by volume, also received a Minimal Viable Product (MVP) Preparatory License from the Dubai Virtual Assets Regulatory Authority (VARA). Binance is also eyeing the Middle East, with Binance Dubai poised to become the primary focus for the company’s development efforts, given regulatory challenges in Europe and the US.Global expansion strategyBitget’s expansion into the Middle East is part of its broader global scaling strategy. The company has already registered as a Virtual Asset Service Provider (VASP) in Poland and Lithuania, and it launched a localized Turkish website earlier this year.Founded in 2018, Bitget boasts a user base of over 8 million users across more than 100 countries, offering copy trading services. The company’s move to the Middle East showcases its determination to tap into new markets and solidify its position as a global player in the cryptocurrency exchange landscape.There’s been a lot going on at Bitget in recent months, in addition to these regional expansion plans. In May the company announced a corporate social responsibility project named “Blockchain4Youth,” cleverly identifying the importance of connecting with the younger demographic which is far more likely to drive crypto and blockchain adoption.Earlier this month it launched a crypto loans product offering while last week it provided transparency via its proof of reserves initiative, demonstrating a 223% level of reserves and outlining that the company is debt free.

Delabs Games Opens Pre-Registration for Global Open Beta Test of Rumble Racing StarKorean game developer Delabs Games has opened pre-registration for the global open beta test of its PC-based Web3 game Rumble Racing Star on October 11 at 06:00 UTC.Photo by Mateo on UnsplashBringing expertise and colorful charactersRumble Racing Star was directed by veteran developer Choi Beong-ryang, who is known for working on fan-favorite casual racing games like KartRider and ZIPI Racing. Popular profile picture (PFP) non-fungible token (NFT) characters with dynamic and whimsical features have been integrated into the gameplay, creating a unique experience and exciting racing controls for players.The pre-registration for Rumble Racing Star’s open beta test is being carried out on the game’s official website. It will be open to users around the world from now until October 25, 06:00 UTC. More detailed information can be found on the website as well.“We have incorporated distinctive PFP NFT characters and an accessible, dynamic arcade racing gameplay. We hope that Rumble Racing Star, a casual Web3 game that people of all ages can enjoy, will receive lots of attention and love,” said Kwon Joon-mo, CEO of Delabs Games.Social media promotionsTo celebrate the pre-registration event, Delabs Games also said that it has planned various engaging events on global social media platforms like Discord and Twitter.