Binance withdraws an Abu Dhabi license application

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The Blends Briefs
TL’DR: Here’s a sneak peek into today’s newsletter

• Solana’s SOL and MONK reach new highs.

• Jack Dorsey's Block Bitkey unveiled pre-order.

• Binance withdraws license application for Abu Dhabi investment fund.

• Robinhood Crypto launches in EU.

Global Biscuits

Solana’s SOL and MONK reach new highs.
Solana's native cryptocurrency, SOL, surged to a new 19-month peak, reaching $73.85, marking a 13% increase in the last 24 hours. The price of BONK, the top meme coin on Solana, hit a new all-time high of $0.00001314, posting a 24% gain in the past 24 hours. BONK has tripled in price over the past seven days and is up 982% in the last month, with a market cap of $747 million. Solana's NFT trading volume has surpassed that of Ethereum, with $14.8 million in trades over the past 24 hours compared to $13.9 million on Ethereum.

Jack Dorsey's Block Bitkey unveiled pre-order.
Block, Jack Dorsey's fintech company, has unveiled its self-custody bitcoin wallet called Bitkey for pre-order in over 95 countries. Bitkey includes a mobile app, a hardware device, and recovery tools. The app allows users to make Bitcoin transactions via their mobile phones while the hardware device stores assets offline. Bitkey's third key is stored on the company's servers and is used to verify transactions made by users and to recover the wallet if they lose their phone and device. Pre-orders are expected to be shipped in early 2024.

Tastes of the regions

Binance withdraws license application for Abu Dhabi investment fund.
Binance has withdrawn its application for an investment management license in Abu Dhabi, citing it as unnecessary for its "global needs." The exchange clarified that it will continue its application to provide custody services for digital assets to professional clients in the region. Binance emphasized that this decision is unrelated to its recent legal settlement in the U.S., where it agreed to pay a $4.3 billion fine for violating anti-money laundering and money transmitter rules. The exchange is already licensed in Dubai, serving as its Middle East and North Africa headquarters.

Robinhood Crypto launches in EU.
Robinhood is launching its crypto app in the European Union (EU) and introducing a Bitcoin rewards program. The rewards program allows users to earn a percentage of their trading volume back in Bitcoin each month. The percentage starts at 0.10% for trading volume between €0.10 and €100,000, scaling up to 0.325% for volumes over €1 million. Additionally, a referral program offers up to 1 BTC for signing up and referring friends. The rollout follows Robinhood's recent launch in the UK and comes with plans to introduce additional features such as crypto transfers and staking in 2024.

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