Finally, Gemini is here

Hello, and welcome to De.Nomics newsletter, your daily digest to stay ahead in the world of Web3 and decentralized technologies at a regional focus. Today, we have plenty of trending news and stories. So, get your cup of tea and some biscuits, and let’s go ahead.
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The Blends Briefs
TL’DR: Here’s a sneak peek into today’s newsletter

•  Introducing Gemini.

• Seattle judge accepts CZ's guilty plea.

• ARK Invest sells $33 million worth of Coinbase.

• IBM’s new cold storage tech for crypto assets

• France’s third-largest bank is set to launch its stablecoin.

• Phoenix Group's shares surged 35% in the Abu Dhabi Stock Market.

• Dictionomics: MMX

Global Biscuits

Introducing Gemini.
Gemini is a technology developed by Google’s DeepMind that enables the creation of realistic and interactive virtual worlds. Gemini can generate high-fidelity 3D environments from real-world data, such as images, videos, or maps, and allow users to explore them in immersive ways. Gemini can also simulate complex physical phenomena, such as lighting, shadows, reflections, and sound, to enhance the realism and immersion of the virtual worlds. Gemini is designed to be easy to use and integrate with existing platforms and tools, such as Unity, Unreal Engine, or TensorFlow. Gemini can be used for various applications, such as gaming, education, entertainment, training, simulation, and research.

Seattle judge accepts CZ's guilty plea.
A U.S. district judge in Seattle, Judge Richard Jones, has accepted the guilty plea from former Binance CEO Changpeng Zhao (CZ) related to charges of anti-money laundering violations. Last month, Zhao pleaded guilty to these charges, leading to a $4.3 billion settlement by Binance, one of the largest corporate settlements in history. As part of the plea deal, Zhao agreed to pay a $50 million fine and stepped down as CEO. He also resigned as the chairman of the board of directors for Binance.US, removing his influence from Binance.US's governance. Despite these developments, Zhao remains active on social media, sharing insights and experiences.

ARK Invest sells $33 million worth of Coinbase.
ARK Invest, the investment management firm founded by Cathie Wood, sold $33 million worth of Coinbase (COIN) stock after the crypto exchange's shares reached a 19-month high due to Bitcoin's latest surge. The sale included 237,572 COIN shares across three ARK ETFs: ARKK, ARKW, and ARKF. Additionally, ARK Invest sold 168,127 shares of Grayscale's Bitcoin Trust (GBTC), amounting to approximately $5.9 million. ARK Invest has a history of buying and selling crypto-related shares based on market trends and price movements.

IBM’s new cold storage tech for crypto assets
IBM has introduced a cryptographic signing technology called IBM Hyper Protect Offline Signing Orchestrator (OSO) for handling digital assets in cold storage. This technology aims to reduce the risks associated with manual procedures and keep assets at a distance from an internet connection. The OSO provides additional security layers, including disconnected network operations, time-based security, and electronic transaction approval by multiple stakeholders, offering protection for high-value transactions. Ripple-owned custody firm Metaco is already using the new OSO technology to enhance its institutional cold storage solutions.

Tastes of the regions

France’s third-largest bank is set to launch its stablecoin.
Société Générale, France’s third-largest bank, is set to launch its stablecoin, EUR CoinVertible, making it the first major bank to offer digital tokens tracking the price of hard currencies. The stablecoin will be traded on the Bitstamp exchange and is fully backed by euros. It aims to provide a Euro-denominated stablecoin as an alternative in a market largely dominated by USD-pegged stablecoins like Tether and USD Coin. The move comes as regulatory scrutiny on stablecoins increases, with the UK recently proposing regulations to bring stablecoins into the broader economy. Société Générale's stablecoin is intended for broad availability and use in various financial services, including settling trades in digital bonds and funds.

Phoenix Group's shares surged 35% in the Abu Dhabi Stock Market.
Shares of cryptocurrency miner Phoenix Group (PHX) surged 35% to 2.03 dirhams ($0.55) on their first day of trading on the Abu Dhabi Securities Exchange (ADX). The company's initial public offering (IPO) in November was 33 times oversubscribed, raising 1.36 billion dirhams ($368 million). Phoenix Group provides mining services through hosting and a cloud-based platform where clients rent hashrate. It also operates the cryptocurrency exchange M2, supported by its native Ethereum-based token, MMX. International Holding Company, chaired by Tahnoon bin Zayed Al Nahyan, acquired a 10% stake in Phoenix Group in early October.

Dictionomics:   Ethereum-based Token, MMX 

MMX is an Ethereum-based token that represents a share of the profits generated by the MMX platform, a decentralized exchange that allows users to trade any ERC-20 token without intermediaries. MMX holders can stake their tokens to earn passive income from the fees collected by the platform, as well as participate in governance decisions and influence the future development of the project. MMX aims to provide a fast, secure and user-friendly way to swap tokens on the Ethereum network, while rewarding its loyal community with a fair and transparent distribution of value.

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