Gate.io’s investment arm, Gate Ventures, has partnered with Abu Dhabi’s Blockchain Center to create a new $100 million fund, named Falcon Gate Ventures, aimed at advancing Web3 technologies.
The fund, announced on August 19, seeks to boost the development of decentralized infrastructure and applications.
It will support projects and talent across the U.S., Asia, Europe, and the MENA region.
The Blockchain Center, recently established, aims to position Abu Dhabi as a leading hub for blockchain innovation.
Gate Ventures’ Kevin Yang highlighted that this collaboration is a significant step toward advancing global blockchain progress.
In other UAE developments, Ras Al Khaimah Bank is working with Bitpanda Technology Solutions on a digital asset management platform, pending Central Bank approval.
Additionally, a recent Dubai court ruling allows an employee to receive their salary in cryptocurrency, reflecting a shift in legal attitudes towards digital assets.
On Monday, a court gave the green light to FTX’s bankruptcy plan, enabling the collapsed crypto exchange to repay its users with $16 billion in recovered assets.
The G7 antitrust regulators have announced plans for strong enforcement measures to ensure competitive practices in the artificial intelligence sector, aiming to tackle potential risks before they become entrenched.
As Ethereum continues to evolve, developers are consistently exploring innovative ways to enhance its capabilities.
A recent report highlighted that some Chinese investors are giving up on cryptocurrencies, and turning back to the country’s growing stock market, spurred by central bank measures to boost the economy.