UAE has the capacity to become the actual incubator of the post-fiat world with the right diligence and enough capital. Dubai is now emerging as a new crypto power center and may anchor crypto bailout fund.
Many people have been looking to Binance CEO Changpeng Zhao, whose dump of FTT tokens decimated FTX, as the last "White Knight" in the cryptocurrency space after he revealed last week that he is attempting to put together a "rescue fund" for distraught crypto players. This is with bitcoin falling to a two-year low and desperate to seek a bottom as every day a new - and exceedingly leveraged - shoe seems to drop as the blowback of the FTX bankruptcy claims more victims.
But not even CZ is large or wealthy enough to become the JPMorgan of cryptocurrency (his worth is $14.5 billion, down from $81.3 billion in January) (and after so many media references to his criminal peer SBF as "the new JPMorgan", we doubt he even wants that designation). So where does CZ turn to for extr...
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