amana makes 300 additional cryptocurrencies available to app users

Digital asset exchange business Bullish has filed confidentially for an initial public offering (IPO) in the United States. The Financial Times reported on June 11 that the IPO had been filed with the Securities and Exchange Commission (SEC) in recent weeks. Choosing to file the IPO confidentially will have enabled the firm to delay public disclosure, allowing it to progress with its preparation for the IPO and reveal financials closer to the point at which it goes public. Back in February, Bloomberg reported that the company was looking at the possibility of executing an IPO, with investment banking and financial services firm Jefferies understood to have been advising the firm. This latest report confirms that Jefferies will work as the lead underwriter in relation to the IPO deal.Photo by Markus Winkler on PexelsHong Kong tiesBullish is a subsidiary company of Block.one, a blockchain software company founded by Brendan Blumer and Dan Larimer, best known for having established the EOS.IO blockchain network. Both companies have strong ties with Hong Kong.  The Bullish exchange is licensed by the Hong Kong Securities and Futures Commission (SFC). It has also obtained licensing from the Gibraltar Financial Services Commission (GFSC) and the German Federal Financial Supervisory Authority (BaFin).  The exchange business is jointly operated by corporate entities registered in Hong Kong and Gibraltar. The company maintains offices in Hong Kong, Gibraltar, Singapore, New York, London, Frankfurt and the Cayman Islands.  The business is also being backed by Hong Kong billionaire Richard Li and American entrepreneur Peter Thiel, co-founder of PayPal, Palantir Technologies and Founders Fund. Blumer, who is based in Hong Kong, founded Bullish in 2021 and currently serves as Bullish chairman. The company is understood to have in the region of 275 employees with Tom Farley leading it as CEO. Farley previously fulfilled the role of president at Intercontinental Exchange’s NYSE group. Positive climate for crypto IPOsAmid a more positive crypto climate in the United States, crypto-related IPOs appear to be back in favor. Leading stablecoin issuer Circle executed an IPO earlier this month with the offering being 25x oversubscribed. Following the success of the Circle IPO, BitMEX co-founder Arthur Hayes asserted on X that it would lead to a plethora of crypto-related IPOs over the next few years. He likened that anticipated wave of IPOs to the flurry of initial coin offerings (ICOs) that occurred back in 2017. Earlier this month American crypto exchange platform Gemini confidentially filed for an IPO in the U.S. A Bloomberg report published in March suggested that rival exchange business Kraken is planning an IPO for Q1 2026.  There has been some speculation that Ripple, the American technology company that developed and supports XRP and the XRP Ledger (XRPL), may be a prime candidate for an IPO. Taking to the X social media platform, “Pentoshi,” a pseudonymous crypto market analyst with over 860,000 followers on X, said that a Ripple IPO “feels only logical.” The analyst added that if the company executed an IPO, it would likely weigh in at “some insanely stupid valuation.” 

Dubai approves crypto license for climate-friendly Web3 startupIn a move that shows some potential towards fostering sustainable innovation within the crypto space, Dubai’s Virtual Assets Regulatory Authority (VARA) has granted a conditional license to Web3 Innovations FZE, which trades as “AYA.”Licensed subject to fulfilling conditionsAYA is the Dubai-based subsidiary of Singapore-headquartered Web3 launchpad, incubator and advisory service, Enjinstarter. The license will enable AYA to offer management and investment services related to crypto assets. However, the license remains non-operational at the moment, as it has been awarded subject to the fulfillment of specific conditions outlined by VARA. The conditional license, awarded on Tuesday, has significance as it is indicative of a commitment from the Dubai authorities to supporting environmentally conscious initiatives in the Web3 ecosystem.The license awaits full compliance with VARA’s stipulated conditions and select localization requirements. Enjinstarter’s AYA platform will undergo further regulatory verification and approval once these prerequisites are met, as stated in the official announcement:“The license remains non-operational until the company fully satisfies all remaining conditions and select localization requirements defined by VARA.”Dubai ‘obvious choice’Back in October, Enjinstarter confirmed Dubai as the chosen location for its AYA platform. At the time, Enjinstarter MENA’s Managing Director, Vasseh Ahmed, described it as the “obvious choice.” Vasseh stated:”No other jurisdiction provides the regulatory clarity and sustainability focus we are looking for. Beyond that, there is a palpable sense of action here, specifically in terms of real-world asset regulation and climate action.”Prakash Somosundram, the co-founder and CEO of Enjinstarter and the AYA Foundation, expressed the company’s dedication to adhering to the regulatory process outlined by VARA.Photo by Qingbao Meng on UnsplashClimate-focused launchpadAYA stands out as a climate-focused launchpad, championing sustainability through initiatives such as reforestation, nature credits, mangrove conservation and sustainable agriculture. Beyond its role as a finance platform for green initiatives, AYA actively supports climate action projects, leveraging blockchain and Web3 infrastructure.As AYA works towards fulfilling VARA’s operational license requirements, the company has also unveiled a collaboration with The Storey Group based in the United Arab Emirates (UAE). This joint effort aims to plant mangroves in Dubai, reinforcing AYA’s commitment to combating climate change. Vasseh Ahmed, Managing Director of Enjinstarter MENA, emphasized the company’s mission:“We are looking to work with founders and projects that have a unique proposition within our key focus areas by helping them build their product narrative, raise capital, and launch their projects.”In a recent interview, Deepa Raja Carbon, Managing Director and Vice Chair at VARA, highlighted the regulator’s agile and collaborative approach. VARA remains committed to responding swiftly and effectively to market needs by engaging in conversations with industry leaders, innovators, peer regulators and legislators. Carbon emphasized the comprehensive and market-aligned guidelines crafted in collaboration with Dubai’s established entities, ensuring a unified framework for the evolving crypto landscape.Dubai’s move to grant a conditional crypto license to AYA appears to reflect a forward-thinking approach, aligning with global efforts to integrate sustainability into the rapidly evolving Web3 and crypto ecosystem.

China Performs Well as Global Crypto Industry Employment Surpasses 190,000According to new data, the cryptocurrency industry has seen a remarkable surge in employment, with nearly 190,000 individuals currently working in the field as of July 2023, with China fairing particularly well despite its hostile approach to crypto.This figure represents a significant increase compared to pre-2020 employment statistics, marking the onset of the crypto frenzy. The data was produced via a report published by K33 Research, a Norway-based digital assets research and data analysis firm.Photo by Valentin Farkasch on UnsplashIndia leads in AsiaThe data highlights an over-representation of crypto workers in the Western world, with more than 50% based in North America and Europe. Within this figure, the United States alone accounts for 29% of the crypto workforce. In Asia, India emerged as the leading employer in the crypto industry, employing 20% of the regional workforce, primarily in developer-related roles. Surprisingly, despite China’s historically hostile stance on the crypto industry, it stands as the second-largest employer in Asia, employing 15% of the regional workforce.It’s also interesting that China has been found to account for such a sizable chunk of Web3-related employment when recent feedback from recruiters in Hong Kong suggest that the crypto licensing program rolled out in the autonomous Chinese territory has not yet resulted in a surge in employment. Recruiters maintain though, that this employment boost will come in due course.Most employment via exchangesDuring 2021, a period characterized by high prices and soaring company valuations, the crypto industry employed approximately 211,000 individuals, highlighting the industry’s rapid growth. Researchers from K33 found that around one-third of the crypto workforce is engaged in exchanges or brokerages, emphasizing the crucial role these entities play. Additionally, 26% of employees work for companies offering a diverse range of financial services related to cryptocurrencies.Interestingly, the study revealed that NFTs occupy only a small portion of the workforce, with only 6% of individuals involved in this field. On the other hand, 21% contribute their skills to blockchain protocols, analytics, and mining operations. The remaining 13% hold cryptocurrency-related jobs that do not neatly fit into any specific category. The researchers employed various methods, including LinkedIn searches, AI-assisted web searches, and manual mappings, to gather this data.Remote workingA notable trend in the crypto industry is the prevalence of remote work arrangements. Major crypto companies have opted for globally distributed workforces, capitalizing on jurisdictions with favorable regulations and lower tax rates. By establishing headquarters in these locations, but employing individuals remotely or establishing local offices worldwide, companies can reduce costs and eliminate logistical barriers.The significant growth in crypto industry employment reflects the expanding and maturing nature of the sector. As cryptocurrencies and blockchain technology gain wider acceptance, professionals from various backgrounds are entering the industry, contributing their skills to different sectors within the crypto ecosystem. The prevalence of remote work arrangements and the global nature of the industry allow talent to be sourced from around the world, transcending geographical boundaries.This upward trajectory in employment is likely to continue as the crypto industry evolves and continues to shape the future of finance and technology.