Oman is now a sustainable crypto hub 🤩

Gm Degens,

Welcome to our weekly dose of No Rug News. We are dedicated to bringing you the latest Web3 coverage. To our new subscribers, tea is served!🍵 

Here is what we have for you today

• Oman to become sustainable crypto-mining hub

• Binance to halt crypto debit card in Latin America, Middle East

• Winklevoss Twins Look into Bringing Gemini to the UK, FT Sources Said

Trending 🔥

• Oman to become sustainable crypto-mining hub (crypto news)

• Binance to halt crypto debit card in Latin America, Middle East (cointelegraph)

• Winklevoss Twins Look into Bringing Gemini to the UK, FT Sources Said (cryptopolitan)

• Collections Post Double-Digit Monthly Losses as Floor Prices Drop (coindesk)

• Crypto Expo Dubai by HQmena scheduled for Sep. 20 and 21(crypto news)

• World Mobile launches on Google Play for customers in Australia, Canada, UK and US (cointelegraph)

• Snoop Dogg launches Dr. Bombay collection with Skechers (nftnews)

• Crypto Prices on the Rise After Congressman Presents Bill (cryptopolitan)

• Donald Trump NFTs Surge After Tucker Carlson Interview (coindesk)

• China sentences former party official to life in prison for enabling crypto mining (crypto news)

• China launches blockchain-powered data exchange (cointelegraph)

• Volaris expands into the NFT market with unique offerings (nftnews)

Here is what else we dug for you

Oman to become sustainable crypto-mining hub

Green Data City teams up with UAE's Phoenix Group to establish a $300 million environmentally friendly crypto-mining facility in Oman, supporting the country's objectives for sustainable technology.

Here is what we know about the story:

• Phoenix Group, a prestigious mining business with its headquarters in the UAE, has inked a contract with Green Data City, an innovative project with roots in Oman.

• The $300 million investment is intended to start a mining farm in Oman.

• Recent reports suggest that the upcoming crypto-mining plant, located in the Green Data City, will have a remarkable 150 MW capacity.

• This action may improve Oman's reputation as a center for data centers and cryptocurrency mining operations.

Binance to halt crypto debit card in Latin America, Middle East

Binance, a prominent digital currency exchange, announced it will stop offering crypto debit cards in Latin America and the Middle East as of August 25. The exchange didn’t reveal the precise cause for the suspension, it asserted it would only have an effect on 1% of users in the impacted areas.

Here is what we know about the story:

• The crypto debit card operated similarly to conventional debit cards and let users make regular purchases of goods and services.

• The fact that these cards were paid for using cryptocurrency assets is the only distinction.

• The exchange said that refunds and disputes may still be handled up until December 20, 2023, notwithstanding the termination of the crypto debit card services in Latin America and the Middle East on September 21.

• A user of X (previously Twitter) asked about problems using cryptocurrency debit cards in Colombia, the problem was first brought to light. In response to the question, Binance issued an announcement that implied debit card services would be discontinued as of August 25 without providing any other information.

Winklevoss Twins Look into Bringing Gemini to the UK, FT Sources Said

The Financial Times reported on September 24 that the Winklevoss twins Tyler and Cameron are considering expanding their cryptocurrency trading platform Gemini to the UK.

Here is what we know about the story:

• Based on the two people cited in the Financial Times article, Gemini has already hired some experts to oversee the intended U.K. growth.

• Although Gemini's move is not instantaneous, according to the exchange, as follows: “custodian which will enable growth and infrastructure to the entire digital asset community.”

• Members of Parliament have encouraged the FCA to expedite the regulation of the crypto industry in the UK.

• Other than the few specified derivatives, the FCA doesn't oversee cryptocurrencies.

NFT Spotlight: Cath Simard

Cath Simard is a wilderness photographer and digital artist who created the world’s first image to have its rights released after its 1/1 NFT sale on the blockchain: #freehawaiiphoto.

As one of the top NFT artists in the world, Simard has continued to advocate for fair compensation and recognition for artists while also using her imaginative composite images to raise environmental awareness.

Having been auctioned off by both Sotheby’s and Christie’s in 2022, she is surely poised to continue her admirable mission over the next year.

Essential links: X, linkedin

Chart of The Week: BTC/NVIDIA

Meme Drop 🤣🤣