Arkham marked 700 million USD worth of Bitcoin assets related to the UAE on its platform.
As of August 25, Arkham confirmed that this Bitcoin asset originated from Citadel's mining activities – a public cryptocurrency mining company with a majority stake owned by UAE Royal Group through IHC.
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Arkham announces the marking of 700 million USD worth of Bitcoin related to the UAE on its platform.
This Bitcoin is a product mined from Citadel, a public company in the cryptocurrency sector.
Citadel is majority-owned by UAE Royal Group through IHC.
What has Arkham announced about Bitcoin related to the UAE?
Arkham announced on social media X on August 25 that they marked a Bitcoin asset worth 700 million USD related to the United Arab Emirates (UAE) on their platform.
This announcement marks an important development in tracking and clarifying the origins of cryptocurrency assets, particularly focusing on reputable mining firms associated with the UAE, thereby enhancing trust in the global cryptocurrency market.
Where does the marked Bitcoin on the Arkham platform come from?
70 million USD worth of Bitcoin assets on the Arkham platform comes from Citadel's mining activities, a publicly-listed cryptocurrency mining company.
Citadel is a reputable business in Bitcoin mining, allowing investors and stakeholders to easily trace the origins of mined assets, enhancing transparency and compliance with cryptocurrency regulations.
Who owns and controls Citadel mining company?
Citadel is predominantly owned by UAE Royal Group through IHC, reflecting direct investment and strong interest from the UAE government in the cryptocurrency mining sector.
This affiliation not only boosts the UAE's position in the cryptocurrency market but also indicates a strategic shift towards professional and legal mining of digital assets.
“Accurately marking cryptocurrency assets mined by reputable companies enhances transparency and traceability, which is fundamental for the sustainable development of the industry.”
– Cryptocurrency analyst, Blockchain seminar 2024
Frequently Asked Questions
What is Arkham and why is marking Bitcoin important?
Arkham is a platform for tracking and marking cryptocurrency assets, helping to enhance transparency and control the origins of assets.
What kind of company is Citadel in the cryptocurrency mining industry?
Citadel is a public Bitcoin mining company known for its large scale and transparency in operations.
Who owns Citadel and why is it important?
This company is predominantly controlled by UAE Royal Group through IHC, reflecting the UAE's strategic investment in cryptocurrency mining.
How does marking Bitcoin assets help the cryptocurrency market?
Enhancing transparency, helping investors and regulators easily control, creating trust for a sustainable market.
How much is Citadel's Bitcoin asset valued as marked by Arkham?
Approximately 700 million USD worth of Bitcoin has been confirmed and marked by Arkham on the platform.
Source: https://tintucbitcoin.com/arkham-ghi-nhan-700-trieu-usd-bitcoin-uae/
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