OPNX exchange, which was recently tagged by Dubai’s VARA (Virtual Asset Regulatory Authority) as not regulated in the UAE, has been rumored to have investors from Bahrain, in the form of the Bahrain sovereign wealth fund given it has recently raised $25 million. According to a   tweet by BitMEXcrypto exchange founder Arthur Hayes, “A little birdie told me that OPNX has raised big money from Bahrain Sovereign Wealth Fund. They are trading via Tai Ping Shan. Be Warned. I want my fucking money.” Bahrain's sovereign fund Mumtalakt website didn't show any investment in OPNX directly but it is noted that the sovereign fund is an investor in Al Waha Fund whose portfolio consists of venture capital funds which could have invested in OPNX given that some of them have invested in crypto and blockchain entities before.  OPNX exchange  aims to tokenize users' claims to bankrupted crypto companies, allowing them to use bankruptcy claims as collateral to trade perpetuals'.

  In an SEC Filing dated January 27 th 2022, USA based Marathon digital Holdings, a digital asset mining entity, announced that it had entered into a shareholder’s agreement with FSI ( FS Innovation), the BTC mining subsidiary of UAE ADQ a sovereign fund,    to form an Abu Dhabi, ( ADGM (Abu Dhabi Global Markets) based company. As per the filing, the joint UAE ADGM based company will establish and operate one or more mining facilities for digital assets. The business entity will be in the field of digital asset/crypto mining. The initial phase will consist of two digital asset mining sites comprising 250 MW (megawatts) in Abu Dhabi UAE. Marathon Holdings will own 20% of the joint company in UAE only. The cost of the project will be $406 million. This new comes after UAE based Phoenix Technology which embarked on establishing a $2 billion crypto-mining farm in the UAE,   announced in November 2022, that the biggest crypto mining project in the region will be completed in th