News Round-Up | July – Blockchain
CoinFlex seeks $84m loss recovery, discussing joint venture to revive fortunes
In an effort to turn around its financial situation, CoinFlex claimed it has filed a lawsuit to collect $84 million in losses from a single client and is in discussions to form a joint venture with another cryptocurrency exchange. Last month, the cryptocurrency exchange put a halt to withdrawals from its system when a counterparty—later revealed to be veteran crypto investor Roger Ver—failed to repay $47 million from a margin call.
UAE-based Thumbay Group to establish the first hospital in the Metaverse
The UAE’s Thumbay Group has made plans to establish the first hospital in the Metaverse. The group will use augmented reality and virtual reality to create immersive remote consultations with doctors. Prospective patients from all over the world can review the facilities before selecting a health provider.
Liquidators for crypto platform Three Arrows Capital say founders are nowhere to be found
Su Zhu and Kyle Davies are missing; where are they? Officials tasked with liquidating the bankrupt firm claim that the founders of bitcoin hedge fund Three Arrows Capital (3AC) are nowhere to be located (via Reuters). Zhu and Davies’ locations are now unknown, according to a court filing submitted on Friday, and its liquidators claim they have not received “any substantial assistance” from the two.
Crypto exchange OKX obtains Dubai license
Dubai has granted OKX a provisional virtual asset license, and the company intends to establish a regional center there in an effort to draw bitcoin businesses from all over the world. The license would enable OKX, one of the biggest cryptocurrency exchanges in the world by trading volume, to give investors in the United Arab Emirates access to select goods and services.
Samsung announces virtual playground Space Tycoon built inside Roblox
In the worldwide metaverse platform Roblox, a virtual playground called Samsung Space Tycoon has been launched by Samsung Electronics. Utilizing alien figures from space and Samsung Electronics goods, Space Tycoon is a virtual environment where users may create, play, and share experiences. Its design and functionality are inspired by the business simulation “tycoon” genre.
HH Hamdan bin Mohammed launches Dubai Metaverse Strategy
HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, launched the Dubai Metaverse Strategy in accordance with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai. The strategy aims to make Dubai one of the top 10 metaverse economies as well as a global hub for the metaverse community.