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

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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.

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UAE cricketers get a front-row seat with biggest names at Abu Dhabi T10

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UAE cricketers will learn from some of the biggest names in the game at the 2026 Abu Dhabi T10, which runs from 7 to 20 November. Muhammad Waseem will share a dressing room with Nicholas Pooran. Alishan Sharafu will play under Moeen Ali. And Muhammad Rohid will bowl with Kieron Pollard setting his field, while Dwayne Bravo, one of T20 cricket’s most successful bowlers, works with him as UAE Bulls’ bowling coach and mentor.

Several UAE players were picked across the six franchises at the draft on 30 September, and the rules guarantee them time in the middle. Every playing XI must include at least two UAE players.

Royal Desert Champions have Waseem, Aayan Afzal Khan and Dhruv Parashar. Sharafu and Vriitya Aravind are at Arabian Aces, and Rohid and Wali Muhammad at UAE Bulls. Emirates Eagles picked Haider Razzaq, Luqman Faisal and Harshit Kaushik, United Tigers chose Awais Ali Shah and Adithya Shetty, and Yas Lions have Ansh Tandon and Haider Ali.

Several of them have already established their impact at this level. Waseem, the UAE stalwart scored 176 runs at a strike rate of 196 for Quetta Qavalry last season, with a best of 50 not out. Back in 2021 he made 56 not out off 13 balls for Northern Warriors, a half-century that equalled the T10 record for the fastest fifty at the time. He also holds a record US$210,000 contract in the DP World ILT20. Spinner Haider Ali played alongside former India leg-spinner Piyush Chawla at Ajman Titans last season.

Sharafu has seen what this exposure can do. Five years from his debut in the competition, he is an established UAE international, and after playing alongside Moeen at Ajman Titans last season, he joins him again at Arabian Aces.

The opportunity reaches beyond the UAE. Netherlands spinner Aryan Dutt was picked by Yas Lions as their Associate Member selection, and Scotland’s Bradley Currie is at UAE Bulls. USA batter Andries Gous was one of Yas Lions’ three pre-draft signings after scoring 175 runs at a strike rate of 168.3 for Quetta Qavalry last season.

The coaching benches carry plenty of experience too. Andy Flower is head coach of UAE Bulls, Lance Klusener of Arabian Aces and Mickey Arthur of Emirates Eagles. Royal Desert Champions have Robin Singh as team director, and he knows the local game well from his time as the UAE’s director of cricket. At Arabian Aces, the younger players will train and play every day alongside Moeen Ali, Andre Russell and Liam Livingstone.

The first test comes on 7 November, when UAE Bulls and Yas Lions open the tournament at Zayed Cricket Stadium. The final is on 20 November.

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Dubai Investor Expands Global Footprint with London Investment Firm

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A Dubai businessman has launched a London-based investment company to acquire stakes in private and listed businesses in the United Kingdom and international markets.
Hari Shankar Tibrewala, who founded Dubai-based Zenith Global Limited and Zenith Multi Trading DMCC, said the new company, Zenith Global Ventures Ltd, would invest exclusively its own capital.
Based in Berkeley Square, Mayfair, the company will focus on established private businesses, selected listed shares, technology and artificial intelligence, and strategic acquisitions. It will consider minority and controlling stakes, including investments where it can participate in governance and strategy.
“Zenith Global Ventures has been set up to be a patient, disciplined owner of quality businesses. Because we invest our own capital, we can take a long-term view, back strong management teams and focus on lasting value rather than short-term results,” said Tibrewala, its founder and director.
According to the company, it has no outside investors or fixed fund life, allowing it to hold investments without a predetermined exit timetable.
Zenith said it would assess potential investments on earnings, cash flow, balance-sheet strength and competitive position, alongside management quality and governance. Each opportunity would undergo due diligence and be subject to applicable legal and regulatory requirements.
For listed shares, the company said it would seek businesses it considers undervalued. Its technology and AI investments would focus on companies it believes can sustain a competitive advantage.
The company cited London’s legal framework, capital markets and connections with Europe, the Gulf and Asia as reasons for choosing the city as its base.
Tibrewala established investment holding company Zenith Global Limited in Dubai in 2013, followed by Zenith Multi Trading DMCC in 2014. He moved to London in 2024.
Zenith Global Ventures said it does not manage third-party funds or offer investments to the public.

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MIRAL Joins 2026 Abu Dhabi T10 as official experience partner

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Yas Island will become the official experiences partner of the Abu Dhabi T10 for its 2026 edition, under a new partnership between Abu Dhabi Cricket & Sports Hub (ADCSH) and Miral.

Under the agreement, all six Abu Dhabi T10 franchises will be based on Yas Island during the tournament, while a number of events linked to the competition will also be held across the destination.

The partnership will include the tournament’s Trophy Launch, Opening Party and Closing Party, with Yas Island’s attractions and venues forming part of the wider Abu Dhabi T10 experience for players, teams, partners and fans.

“We are thrilled to welcome Yas Island as the Official Experiences Partner of the 2026 Abu Dhabi T10,” said Matthew Boucher, CEO of Abu Dhabi Cricket & Sports Hub and Abu Dhabi T10.

“The island is an unbelievable destination which will provide an exceptional setting for our teams, our players and for many of the tournament experiences.”

Leon Marsh, Miral’s director of events, said the partnership reflected a shared aim of creating experiences for “fans, teams and families alike”.

“Yas Island is the ideal setting for the key moments and flagship events taking place during this year’s Abu Dhabi T10,” he said.

The 2026 Abu Dhabi T10 Draft, held at Hilton Abu Dhabi Yas Island, saw 108 players selected by six franchises: Arabian Aces, Emirates Eagles, Royal Desert Champions, UAE Bulls, United Tigers and Yas Lions.

The tournament will take place at Zayed Cricket Stadium from 7 to 20 November, bringing together international players for the 10-over competition.

The partnership is also intended to promote Abu Dhabi as a destination combining international sport, leisure and entertainment, with Yas Island providing the base for the teams throughout the tournament.

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