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An Abu Dhabi Pump?

Should you care one iota?

Jack Inabinet
Nov 29, 2023 • 1 min read

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IOTA's Moment? Blockchain developer Iota is launching the first Abu Dhabi-regulated foundation with hopes of accelerating the growth of their technology in the Middle East! IOTA is up nearly 50% on the day, but is this pump one you should ape? Probably not👇

By being the first regulated Foundation in the Middle East, #IOTA is paving the way to onboard institutional investors. Here's what @ADGlobalMarket's CEO Hamad Sayah Al Mazrouei has to say on this exciting news 👇

Read more: https://t.co/7NYe2L6pv0 pic.twitter.com/7m2IsTosU4
— IOTA (@iota) November 29, 2023

Under recently introduced Abu Dhabi regulations meant to attract digital ledger technology (DLT) companies to the UAE, foundations – like Iota’s – can establish decentralized autonomous organizations there to operate legally and issue tokens to members.

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Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.