Avalanche Blockchain Developer Expands into India

Bybit Extends UAE Tendrils via Blockchain ScholarshipDubai-headquartered crypto spot and derivatives trading platform Bybit, the third most popular cryptocurrency exchange globally, has announced a new partnership with the American University of Sharjah (AUS) as part of its ongoing commitment to promote crypto adoption in the United Arab Emirates (UAE).The collaboration was solidified through the signing of a Memorandum of Understanding in Sharjah, the UAE's third largest city. As a testament to this partnership, Bybit has contributed AED 1,000,000 ($272,000) to establish a scholarship fund, facilitating the academic and research endeavors of 20 students pursuing fintech and blockchain studies at AUS. Eligible students enrolled in computer science and computer engineering programs will be able to benefit from the Bybit Scholarship starting from the upcoming fall semester.Photo by Ainur Kamaev on UnsplashHackathon sponsorshipIn addition to the scholarship initiative, Bybit is dedicated to broader industry endeavors and will contribute an extra AED 100,000 ($27,200) to sponsor a hackathon for the UAE blockchain community. The inaugural AUS-Bybit Inter-College Hackathon is scheduled to take place during the 2023–2024 academic year at the AUS College of Engineering.The UAE has recognized the significant role of cryptocurrencies in its trade activities, and the thriving crypto and blockchain industry in the country serves as a testament to the government’s visionary approach. Dubai alone is home to more than 772 crypto companies, solidifying the UAE’s position as a hub for digital asset innovation. Consequently, the demand for blockchain talent is expected to rise in the region.Industry partnershipsDr. Susan Mumm, Chancellor of AUS, emphasized the university’s commitment to excellence in education, attributing its reputation to strong industry partnerships that bridge the gap between academia and the corporate world. Through the collaboration with Bybit, AUS students will gain access to the technical knowledge necessary to stay abreast of the latest developments in the crypto and blockchain industry.The establishment of the Bybit Scholarship further supports students’ education and skill enhancement. Dr. Mumm expressed the university’s goal of producing professionals and lifelong learners who can make a positive impact in a rapidly evolving world.Ben Zhou, co-founder and CEO of Bybit, highlighted the pivotal role of younger generations in propelling the blockchain revolution forward. Zhou expressed his pleasure in establishing the Bybit Scholarship at AUS, enabling talented students to future-proof their knowledge and skills. He extended his gratitude to AUS for providing opportunities to raise awareness about cryptocurrencies and sharing first-hand industry insights with students from one of the most esteemed universities in the region. Zhou eagerly anticipated being inspired by future engineers, blockchain scientists, and Web3 startup founders.Bybit, a prominent player in the crypto space, unveiled its Dubai headquarters in April, solidifying its commitment to the region and its aspiration to contribute to the growth of the digital asset ecosystem. In May the company gained outline approval to operate in Kazakhstan. Demonstrating further progress still, last month the firm confirmed that it was extending its service offering to include crypto lending.

In a recent survey conducted by personal finance management solutions provider Seedly, together with global crypto exchange Coinbase, it was discovered that over 56% of Singaporeans currently own cryptocurrency, with nearly half expressing bullish sentiments regarding its future prospects over the 12 months of this year.Photo by Zhu Hongzhi on UnsplashFuture of financeTitled "The Pulse of Crypto Singapore Report," the study surveyed 2,006 Singaporean adults across various age groups and household incomes from October to November 2023. Survey participants were deemed to be “finance forward Singapore-based adults who have a strong interest in personal finance and investments.” It determined that 56% of respondents believe cryptocurrency represents the future of finance. Participants cited short-term profitability, long-term capital appreciation and portfolio diversification as key factors driving their optimism. The report’s authors speculate that this optimism is also due to the city-state’s approach to digital assets and the regulatory framework that has been put in place by the Monetary Authority of Singapore (MAS). Yeap Ming Feng, head of marketing at Seedly, also attributed the optimism towards crypto to Singapore's vibrant Web3 ecosystem, which fosters collaboration among builders, investors and users. When selecting a crypto exchange for trading, crypto owners prioritize security, low fees, regulation and ease of use. Coinbase, one of the report’s facilitators, doubled down on its operations in Singapore in 2023, acquiring a Major Payment Institution (MPI) license from the Singaporean regulator, enabling it to expand its product offering. It extended its offering further last month when it launched USD transfers via SWIFT. Notably, the survey identified staking as the most prevalent use case for cryptocurrency in the city-state.  Non-crypto user concernsHowever, the study unveiled that non-crypto users harbor concerns about market volatility (57%), high risk (53%) and the absence of regulation (45%) in the crypto space. Singapore was disproportionately affected by the demise of a number of crypto platforms in 2022. An outsize number of citizens were caught up in the FTX collapse having utilized that crypto exchange instead of Binance, which had been prohibited from trading within the territory. Singapore was also home to failed crypto lenders such as Vauld and Hodlnaut, failed crypto hedge fund Three Arrows Capital (3AC) and UST stablecoin developer Terraform Labs. These high-profile crypto failures so close to home are unlikely to have put crypto skeptics at ease in Singapore where the consideration of risk relative to digital assets is concerned. That said, MAS is actively working towards implementing additional rules to safeguard Singaporean investors. Despite these reservations, the survey underscores a growing interest in and adoption of cryptocurrencies among the financially aware population in Singapore. This trend aligns with Singapore's commitment to remaining a leader in Asia for crypto readiness and supports the city-state's vision of becoming a global digital asset hub. The study also highlighted the progress that the crypto market in general made recently. Over the course of 2023, crypto market capitalization has gained momentum, from $829 billion at the outset of the year, culminating at $1.72 trillion towards the end of the year, according to a report by CoinGekco.

Mars Program Sees Huobi Venture into SpaceHuobi, the Seychelles-headquartered global crypto exchange platform, has embarked on an extraordinary journey with the launch of Phase I of the Huobi Mars Program, making it the first cryptocurrency exchange to explore the vastness of space.Photo by Ju Guan on UnsplashIntergalactic interestsThe Huobi Mars Program, outlined by the company in a recent blog article, signifies Huobi’s interest in space exploration and an expansion beyond the confines of Earth. With aspirations to venture far into the universe, Huobi is inviting its users to join them on this unique and unprecedented journey, becoming pioneers in the Web3 field to enter space.The first phase of the Huobi Mars Program, scheduled from June 2023 to June 2024, consists of 12 rounds of themed activities. Each round requires participating users to complete specific tasks and mint space-themed non-fungible tokens (NFTs).Throughout each round, one lucky user will be selected as the monthly reward winner and stand a chance to become a potential candidate for space travel. In the subsequent phase, the 12 candidates will undergo a rigorous evaluation process, including assessments of physical fitness, training, preparation, and community contribution. Ultimately, one candidate will be chosen to embark on a space journey alongside Justin Sun, a member of the Huobi Advisory Board. The space flight is anticipated to take place after July 2024.Mars Program commencedThe first round of the Huobi Mars Program opened for participation from June 14 to July 5, 2023. To earn space NFT rewards, users must complete specific tasks in spot trading, peer-to-peer (P2P) transactions, futures trading, and Huobi Earn transactions. Each completed task grants users the opportunity to mint a space NFT, with no upper limits.Space NFTs will be issued on the TRON Network and can be traded on various NFT platforms. Users need to link their TRON addresses on the event page to receive the minted NFTs. It is advised to mint the NFTs promptly as there will be a daily cap on NFT minting, and qualification does not carry over to subsequent rounds.The lucky user selected as the monthly reward winner and shortlisted as a candidate space passenger will have their space flight broadcasted worldwide via a live-stream. Huobi will conduct thorough verifications, including checking the winner’s TRON address, UID, and KYC verification, to ensure the authenticity of the winner. The winning space NFTs are non-transferable, and any attempt to transfer them will result in the forfeiture of the reward.Spot trading fee exemptionIn addition to the opportunity of becoming potential space passengers, the lucky users shortlisted during the first round of the Huobi Mars Program will enjoy the privilege of a 180-day exemption from spot trading fees on Huobi.Huobi isn’t the only crypto market participant with an interest in the intergalactic. It emerged last week that Charles Hoskinson, Founder of layer one blockchain Cardano, is funding The Galileo Project, an expedition to recover an interstellar object from the floor of the Pacific Ocean.Crypto memes boast of the likelihood of digital asset prices “going to the moon,” but Huobi’s Mars Program aligns with the pursuit of exploring the unknown and appears to amount to a noble intergalactic endeavor.