Al Nawwar Investments RSC a Private Limited Company established in 2018 in Abu Dhabi, UAE, will be purchasing the remaining interest of Alameda research in Sequoia Capital venture capital firm, totaling $45 million. Al Nawwar is an Abu Dhabi sovereign wealth fund according to a court document has entered into an agreement to execute a sale transaction within a short period of time. Al Nawwar according to the court document is already invested as well in Sequoia. The deal, worth $45 million, has the potential to be closed by March 31. However, it is subject to approval by the Delaware bankruptcy judge John Dorsey. The attempt to sell off its remaining interest in Sequoia Capital is a part of FTX’s attempts to liquidate its investments to pay off its debt to creditors. This is not the first time a sovereign Fund in Abu Dhabi purchases crypto related entities. Prior to this ADQ entered into an agreement to build a crypto mining entities in UAE. In an SEC Filing dated Januar...

  It is all over the news that UAE HayVN, regulated virtual asset trading platform is considering to bid for FTX Pay, FTX crypto exchange’s payment business. The reason the CEO of HayVN gives is that FTX Pay is valuable because of its relationships with establish companies such as MasterCard. Well is that a valid reason, given that most of these established companies have severed their relationships with FTX Pay, while it is actually Visa that was a partner and not MasterCard. UAE National newspaper came out with a story that UAE HayVN regulated by ADGM is interested in purchasing FTX Pay   to integrate it with HayVN Pay infrastructure according to statements made by Christopher Flinos, co-founder and chief executive of Hayvn. As he told the UAE National, “We are pleased to learn that some of the FTX businesses have solvent balance sheets, responsible management and valuable franchises. We are open to a discussion with their bankers, Perella Weinberg, as soon as they have...