Connect with us

Business

Deutsche Bank predicts crypto freefall to continue while Binance put up resilient face

Published

on

crypto-currency-in-bear-market
Spread the love

A Deutsche Bank report has predicted more gloom for the cryptocurrency space even as the CEO of the biggest exchange, Binance, tried to firefight it with assurance at a DIFC Fintech Week event in Dubai.

Binance CEO Changpeng Zhao said the industry will overcome price drops, with bitcoin now trading around the $20,000 mark from a high of $68,000. But if an evaluation from the leading German bank is to be believed, the crypto market is facing mounting pressures and the freefall is expected to continue, although it did predict a 28,000 price for bitcoin by the end of the year.

Several cryptocurrencies were on the red on Thursday, with the global market cap falling by 1.71 percent to $889.81 billion as of 9:55am. Bitcoin was down 0.85 percent to $19,982.20 over the last 24 hours, while Ethereum fell 3.94 percent to $1,089.12.

In a report on Wednesday, DB said that it is unlikely for prices to stabilise, citing that there are no “common valuation models like those within the public equity system”. The market is also highly fragmented, it added.

“Some cryptocurrencies may drop in prices, and some projects may fail, but the industry will stay,” said Zhao, the founder of the world’s largest cryptocurrency exchange, in a pre-recorded message at the Fintech Week on Tuesday.

“In 2000, the dot com bubble saw many companies going bust, but the dot com technology (Internet) went on to survive.”

Zhao’s comments came just a few days after he announced that Binance has 2,000 positions for hiring, a sharp contrast to a slew of job cuts by companies operating in the digital currency space.

Recently, Bitcoin tumbled to a new 18-month low, dragging smaller tokens down with it and spurring a sharp fall in the digital currency market sparked by crypto lender Celsius freezing customer withdrawals.

bitcoin-price-historyZhao went on to say in his speech that blockchain is a proven technology and it is not a bubble that will pop.
“Many different innovations are coming into the crypto space. There are also failures in this industry, but failures are important in this industry. Failures allow us to learn from them and improve,” he said.

Zhao said that decentralised finance (DeFi), which includes now cryptocurrencies and non-fungible tokens (NFTs) enabled by blockchain technology, has been around for years, and it is going to stay.

“In the next 5 to 10 years, decentralised finance (DeFi) could be bigger than centralized finance (CeFi). That’s why we are making heavy investments in this area,” he said.

ALSO READ:

Abu Dhabi women to get free crypto, NFT domains

Lulu Group heads to Odisha after Investors Meet in Dubai

Announcements

Self.space puts the power of photography in your hands

Published

on

Spread the love

Forget Snow White’s mirror — this one doesn’t compare, doesn’t critique, and answers only to you. Introducing self.space, a revolutionary sealed-room mirror photography studio that’s as private as your thoughts and as flattering as your best angle.

In a region where modesty and privacy are deeply valued, self.space is reimagining the photoshoot experience. No photographers. No spectators. No pressure. Just you and a smart mirror, inside a sound-insulated, self-directed studio designed for complete comfort and control.

Traditional photoshoots can feel intimidating — unfamiliar surroundings, judgmental eyes, and the pressure to perform. self.space changes that. Walk into a sleek studio, close the door behind you, and watch the privacy light switch on. Now it’s just you — free to pose, express, and capture your image on your terms.

“We found that people reject photos not because they lack beauty or talent — but because tension stays on their faces,” say co-founders Mitia Muravev (Founder & CEO) and Peter Bondarenko (Founder & CPO). “That tension is stronger in the Arab world, where privacy and modesty are part of daily life.” Mitia drives the brand’s vision and partnerships, while Peter leads the tech — from embedded cameras and edge AI to full-stack infrastructure. Together, they’ve created more than a photo studio — they’ve packaged confidence.

How it works:

  1. Walk in – Door closes, privacy light turns on.
  2. Capture – Use the remote to take unlimited shots.
  3. AI Perfects – Instant, natural-looking touch-ups preserve your true look.
  4. Gallery Ready – A secure link to your encrypted gallery is sent to your phone before you leave.

Whether you want professional portraits, personal mementos, or a quiet moment of self-reflection, self.space offers something rare: a private, pressure-free space to simply be yourself — and love what you see.

Continue Reading

Business

UAE banks to ditch OTPs via SMS and email starting Friday: Here’s what you need to do

Published

on

Spread the love

Starting Friday, July 25, UAE banks will begin phasing out those familiar one-time passwords (OTPs) sent via SMS and email. Instead, you’ll need to verify all your financial and online transactions, including transfers within and outside the country, directly through your bank’s mobile app.

The change is part of a Central Bank of the UAE directive aimed at boosting digital banking security and making things smoother for customers.

According to an official circular, banks have been instructed to shift entirely to in-app authentication, requiring customers to enable the feature through their mobile banking applications.

The document notes: “Based on instructions from the Central Bank of the UAE, please note that the receipt of one-time passwords via text messages or email will be gradually phased out. Customers can now complete electronic transactions with ease via the smart application by selecting the ‘Authentication via App’ feature.”

So, if you haven’t already, it’s time to update your banking app and get familiar with app-based authentication, no more scrambling for SMS codes, and a whole lot more security.

Continue Reading

Business

No more cash, no more queues: Dubai goes digital for cargo payments

Published

on

Spread the love

If you’ve ever dealt with the back-and-forth of cargo payments, this news might make your day. Dubai-based Emirates SkyCargo has partnered with digital logistics payment platform PayCargo to introduce faster, smoother, and cash-free payment options to the UAE’s freight industry, eliminating delays and manual paperwork.

Digital payment platform PayCargo has officially launched operations in the UAE, and Emirates SkyCargo is the first carrier in the country to sign up. The move brings a new era of convenience for cargo customers, who can now make instant online payments via credit card or direct debit, and enjoy same-day or next-business-day cargo release.

The partnership marks a key step in replacing traditional manual systems, like cash payments and physical paperwork, which still dominate many freight operations across the region.

 “Our goal is to provide customers with a reliable, efficient, and time-saving alternative to outdated systems,” said Eduardo Del Riego, President and CEO of PayCargo.”

The launch follows PayCargo’s strategic tie-up with Seed Group, part of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, which helped the US-based firm establish a footprint in the Middle East.

It also aligns with the UAE’s broader push to become a global leader in digital infrastructure and smart logistics. With Emirates SkyCargo on board, PayCargo’s entry sets the tone for a more connected, tech-enabled freight future in the region.

Continue Reading

Popular

© Copyright 2025 HEADLINE. All rights reserved

https://headline.ae/