Galaxy expands to UAE as part of Middle East push

cointelegraphPublished on 2025-12-10Last updated on 2025-12-10

Abstract

Galaxy, a digital asset management firm, is expanding into the Middle East by establishing a new office and entity in Abu Dhabi under the Abu Dhabi Global Market (ADGM). The move aims to strengthen existing partnerships and tap into the region's growing financial hub, which is home to sophisticated investors. This expansion follows Galaxy's strong Q3 2025 performance, with $505 million net income and $3.2 billion in equity. The UAE has recently approved several crypto firms, including Binance, Bybit, and stablecoin issuers like Tether and Circle, further solidifying its role as a key market for digital assets.

Galaxy, the digital asset management and infrastructure company, announced an upcoming office and a new arm in Abu Dhabi as part of its push into the Middle East.

In a Wednesday notice, Galaxy said it would establish an entity under the registration authority of the Abu Dhabi Global Market (ADGM), the area’s international financial center. According to Galaxy founder and CEO Mike Novogratz, the move was part of a strategy to expand the company’s existing partnerships and operations.

“The Middle East is a rapidly growing financial hub that is home to some of the world’s most sophisticated investors and innovators,” said Galaxy managing director Bouchra Darwazah. “It has become a particularly influential region for our investors, clients, and portfolio companies, and we believe this office will help establish new opportunities as a leading global digital assets investment and infrastructure firm.”

The Middle East move followed Galaxy reporting a net income of $505 million in the third quarter of 2025, with $3.2 billion in equity. Since 2018, the company has been a major player in staying on top of crypto investments, including its plan to participate in a $1.65 billion Solana (SOL) treasury fund with Cantor Fitzgerald, Multicoin Capital and Jump Crypto.

Related: Tether’s USDt awarded key regulatory status in Abu Dhabi

UAE greenlighted several crypto companies looking to Middle East markets

Over the past year, numerous crypto companies have received regulatory approval to operate in key Middle East markets, including Dubai and Abu Dhabi, such as exchanges Binance and Bybit.

Some stablecoin issuers have had similar success. In November, ADGM cleared regulated companies to deploy Ripple’s stablecoin, Ripple USD (RLUSD). This week, the financial center also recognized Tether’s USDt (USDT) as an “accepted fiat-referenced token” and granted Circle regulatory approval to operate as a financial service provider, paving the way for its USDC (USDC) stablecoin.

Magazine: When privacy and AML laws conflict: Crypto projects’ impossible choice

From Return to Resignation: Chen Hang's 437 Days at DingTalk

The 437-Day Return and Departure of Chen Hang at DingTalk This article chronicles the 437-day period from March 31, 2025, to June 11, 2026, when Chen Hang (also known as "No Move") returned as CEO of DingTalk, the enterprise communication platform he originally founded, only to later step down. Chen Hang, the creator of DingTalk in 2015, was brought back by Alibaba in 2025 after the company acquired his subsequent startup, HHO. His return was driven by Alibaba's renewed focus on AI and DingTalk's strategic role as its key to-B AI application. However, his aggressive management style, marked by strict work policies like mandatory clock-ins and extended hours, quickly caused internal friction and was criticized as being at odds with Alibaba's culture. Despite the internal turmoil, Chen Hang drove significant product launches. In August 2025, he unveiled "AI DingTalk 1.0," featuring new products like the AI-native entry point "DingTalk ONE." By March 2026, he announced "Wukong," touted as the world's first enterprise-grade AI-native work platform, representing a fundamental rebuild of DingTalk's architecture. The turning point came in early June 2026. A detailed internal post criticizing DingTalk's work culture went viral, followed by a public critique from a former executive. This prompted an unprecedented public rebuke from the Alibaba Partners Committee, which stated such management was not aligned with company values. One day later, on June 11, Alibaba announced Chen Hang's departure. He was succeeded by Chen Yusen, a 32-year-old technical expert known for founding cybersecurity firm Changting Technology. While Chen Hang's tenure laid the technical foundation for DingTalk's AI transformation with "Wukong," his leadership style ultimately led to his replacement as the company seeks a new direction under younger leadership.

marsbit11m ago

From Return to Resignation: Chen Hang's 437 Days at DingTalk

marsbit11m ago

‘Crypto Mining Queen’ Lyu Yongshuang: Once Controlled 9% of Global Bitcoin Hashrate, Swindled Out of 60 Million by ‘Middle Eastern Royal Son-in-Law’ in the US

Summary: "Mining Queen" Lyu Yongshuang (Fiona Lyu), an 80s-born Chinese entrepreneur, once controlled approximately 9% of the global Bitcoin mining hashrate through her company Valarhash and its pools, 1THash and Bytepool. Her fortunes shifted dramatically in 2021 following China's crackdown on crypto mining. Relocating to the US, she fell victim to an elaborate fraud by two American brothers, Zubair and Muzammil Al Zubair. Posing as an "Arab royal" and a hedge fund manager, they used bribery and a fake romantic relationship to trick Lyu into signing a mining facility contract in Ohio. The scam resulted in losses exceeding $9.4 million, including the theft and resale of 1,067 mining rigs. In 2026, the brothers received lengthy prison sentences. Concurrently, Lyu faced legal battles in China, where a court invalidated a mining contract with a listed company, ordering a refund of nearly $2.8 million. These events marked a severe downturn for the once-powerful industry figure.

marsbit17m ago

‘Crypto Mining Queen’ Lyu Yongshuang: Once Controlled 9% of Global Bitcoin Hashrate, Swindled Out of 60 Million by ‘Middle Eastern Royal Son-in-Law’ in the US

marsbit17m ago

Roll the Dice, Win BTC! WEEX Launches "World Cup x Monopoly" with Millions in USDT Giveaway

"WEEX, a leading crypto exchange and official partner of LALIGA in Taiwan and Hong Kong, has launched the 'World Cup x Monopoly: Win Millions in USDT' event to celebrate the 2026 World Cup in North America. Running from June 11 to July 20, the activity combines a Monopoly-style 3D board game with football-themed rewards. Users can earn dice by completing tasks like signing up, depositing over 100 USDT, trading contracts or WXT spot, inviting friends, and using dice. Throwing dice moves them across the board to win prizes such as BTC, ETH, USDT airdrops, trial funds, and more dice. Participants also earn points by advancing on the board and completing weekly trading tasks. These points unlock milestone rewards, with top tiers offering up to 1,000 USDT. Additionally, points can be used in a World Cup match prediction game featuring dynamic odds, where supporting underdog teams yields higher potential returns. A live leaderboard ensures transparency. WEEX aims to merge football excitement with Web3 engagement through this major promotional campaign."

marsbit21m ago

marsbit21m ago

AI New Money, $5,000-an-Hour Companionship: Silicon Valley in 2026 and Night City in 2077

In 2026, San Francisco's AI boom has reshaped the city. While companies like OpenAI and Anthropic drive a commercial real estate revival and create a new class of tech millionaires, profound inequality deepens. Rental prices soar in AI districts, pricing out many who service the industry. A new, expensive social phenomenon emerges: tech "nouveaux riches," often lonely despite wealth, pay $3,000-$6,000 per hour for "high-end companionship." This service, provided by smart, tech-literate individuals (often women), offers not just beauty but engaged conversation about AI, longevity, and crypto—fulfilling a deep need for validation. This mirrors historic gold rushes, where service industries bloom around new wealth. The narrative draws parallels to Cyberpunk 2077's Night City, depicting a "high-tech, low-life" society where technological advancement exacerbates social divides, creating separate worlds within the same city.

marsbit29m ago

AI New Money, $5,000-an-Hour Companionship: Silicon Valley in 2026 and Night City in 2077

marsbit29m ago

The 2026 Landscape of Decentralized AI: Why Blockchain is the Inevitable 'Antidote' for AI?

Decentralized AI 2026 Landscape: Why Blockchain is AI's Essential "Antidote" Centralized AI faces structural bottlenecks—expensive compute, concentrated control, unverifiable outputs, and difficult data access—that cannot be solved by capital or code alone. Blockchain offers a path to make intelligence open, verifiable, and economically accessible. The decentralized AI stack comprises: * **Infrastructure:** The foundation with compute, verifiable inference, distributed training, data/storage, and privacy/verification layers. Projects like Akash, Render, and Filecoin provide cheaper, decentralized alternatives for raw resources. * **Middleware:** The coordination layer for agent discovery, identity, and commerce. Key players include Bittensor (a network of specialized AI subnets), Virtuals (an agent economy OS), and frameworks providing agent identity and tooling. * **Applications & Services:** Dominated by Agentic Finance (AI agents executing on-chain actions based on natural language) and Agentic Payments (machine-to-machine transactions using blockchain as a settlement layer). Projects like Giza, Infinit Labs, and x402 are enabling these use cases. Key trends for 2026-2027 show AI demand outgrowing infrastructure, compute becoming an asset class, and tokenomics emerging as a structural advantage for coordinating capital, compute, and data. While still early—with adoption uneven and revenue often trailing token incentives—projects like Bittensor, NEAR, and Venice demonstrate decentralized AI is evolving from a narrative into a new model for coordinating intelligence.

Foresight News32m ago

The 2026 Landscape of Decentralized AI: Why Blockchain is the Inevitable 'Antidote' for AI?

Foresight News32m ago

Trading

Spot

Futures

Hot Articles

How to Buy PUSH

Welcome to HTX.com! We've made purchasing Push Protocol (PUSH) simple and convenient. Follow our step-by-step guide to embark on your crypto journey.Step 1: Create Your HTX AccountUse your email or phone number to sign up for a free account on HTX. Experience a hassle-free registration journey and unlock all features.Get My AccountStep 2: Go to Buy Crypto and Choose Your Payment MethodCredit/Debit Card: Use your Visa or Mastercard to buy Push Protocol (PUSH) instantly.Balance: Use funds from your HTX account balance to trade seamlessly.Third Parties: We've added popular payment methods such as Google Pay and Apple Pay to enhance convenience.P2P: Trade directly with other users on HTX.Over-the-Counter (OTC): We offer tailor-made services and competitive exchange rates for traders.Step 3: Store Your Push Protocol (PUSH)After purchasing your Push Protocol (PUSH), store it in your HTX account. Alternatively, you can send it elsewhere via blockchain transfer or use it to trade other cryptocurrencies.Step 4: Trade Push Protocol (PUSH)Easily trade Push Protocol (PUSH) on HTX's spot market. Simply access your account, select your trading pair, execute your trades, and monitor in real-time. We offer a user-friendly experience for both beginners and seasoned traders.

3.7k Total ViewsPublished 2024.03.29Updated 2026.06.02

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of PUSH (PUSH) are presented below.