Crypto Giant Nomura Granted Full License in Dubai, Reinventing City as Crypto Hub

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• Dubai expands crypto licenses, granting approval to Nomura
• Curve Finance attack causes DeFi protocols‘ total value locked to drop by more than $3B
• Digital Currency Group nearing settlement with Genesis creditors; reports $216M Q2 revenue as new CFO takes helm

Dubai Expands Crypto Licenses

Dubai has granted a full license to a subsidiary of Japanese financial giant Nomura Holdings Inc. This license gives Laser Digital Middle East FZE the ability to offer virtual asset broker-dealer and investment management services within Dubai. Additionally, Binance recently received an MVP Operational permit from Dubai, further positioning the city as a major hub for the crypto industry.

Curve Finance Attack Causes DeFi Value Locked to Drop

Total value locked across DeFi protocols has dropped more than $3 billion since the Curve Finance attack occurred in May. The decrease in value locked may be due to users losing faith in the security of certain protocols after the attack, leading them to pull their funds or switch projects.

Digital Currency Group Nearing Settlement With Genesis Creditors

Digital Currency Group (DCG) is close to reaching a settlement with Genesis creditors, reported by Coindesk. DCG reported total Q2 revenue of $216 million, having appointed a new chief financial officer Adam White earlier this month. The firm is also reportedly working on expanding its business operations in Asia and Europe through investments and acquisitions.

Non-Profit Glo Launches Stablecoin

In an effort to alleviate extreme poverty, non-profit Glo has launched a stablecoin that leverages yields generated from lending activities. The project was created in collaboration with MakerDAO and Compound Protocols and aims to provide low-income individuals access to capital outside of traditional banking systems.

Richard Heart’s Video Resurfaces Amid SEC Investigation

A video of Richard Heart publicly disparaging SEC resurfaced as securities fraud case is moving forward against him. Coinbase distanced itself from CEO Brian Armstrong’s comments on SEC investigation while Heart’s legal team awaits response from court later this month regarding his request for dismissal without prejudice of all charges against him.