WAO ART #286

In the Bitcoin and cryptocurrency ecosystem in Asia from November 20 to 24, the price of Bitcoin briefly reached $38,000 but failed to sustain this level. Singapore announced plans to ban margin trading from 2024 to reduce crypto speculation among individual investors.

Oman-Australia joint venture, Al Hadeetha Resources, is set to begin production of copper concentrate from its mining project in North Al Sharqiyah Governorate by the end of the year. The company has readied a copper concentrator plant with a capacity of 1 million tonnes per annum.

Cardano, a leading blockchain platform, has launched Girolamo, its first internet-generative chatbot, showcasing its commitment to innovation. Girolamo can answer a wide range of queries and stands out for its image generation and interpretation capabilities.

Nigerian law enforcement recently arrested a politician, Wilfred Bonse, accused of laundering over $60,000 from $750,000 stolen from Patricia Technologies, a crypto exchange. The theft, which occurred earlier this year, resulted in the loss of over $2 million in digital assets.

JPMorgan has expressed concerns about the potential approval of spot BTC ETFs by the SEC, stating that it could lead to significant downward pressure on BTC prices. The bank's analysts believe that the transition of the Grayscale Bitcoin Trust into an ETF could result in a capital outflow of approximately $2.7B.

The UK government and financial regulator FCA have approved the tokenization of investment funds, allowing FCA-authorized funds to use blockchain technology for transactions. This move aims to enhance efficiency, transparency, and global competitiveness in the asset management sector.

South Korea and Brazil have strengthened their trade ties and investment cooperation through the signing of the Korea-Brazil Trade and Investment Promotion Framework. The TIPF aims to deepen bilateral relationships and promote investment in emerging markets such as green energy, digital technology, and biotechnology.