Khalfan Belhoul, CEO of the Dubai Future Foundation (DFF), said that the digital economy is "no longer dependent on one country" and emphasized that only through a "collaborative effort" can initiatives like Binance truly succeed. Belhoul made these remarks during Binance Blockchain Week.
"Because if there's one message that we need to really take from the digital economy, it's no longer dependent on one country," said Belhoul. "It's a collaborative effort and that's the only way we can really make the efforts of Binance work."
According to Financial News London, leading hedge funds have significantly increased their investments in cryptocurrency as of early 2024. Millennium Management, for example, has committed approximately $2 billion to spot Bitcoin Exchange-Traded Funds (ETFs), with Schonfeld following with a $500 million allocation.
Financial News London further highlights that more than half of the top U.S. hedge funds now hold Bitcoin ETFs, indicating an increasing level of trust in crypto assets among institutional investors.
Reuters reports that the global cryptocurrency market capitalization reached $2.2 trillion as of October 1, 2024, up from $8.3 billion at the beginning of 2023.
Belhoul leads DFF's strategy across five key areas aimed at positioning Dubai as a hub for innovation and future readiness. With over a decade of experience in business transformation, he drives initiatives fostering collaboration among individuals, organizations, and government bodies to accelerate change. Previously serving as Vice President of Strategy at Dubai Holding, he played a role in shaping the company's contribution to Dubai's economic diversification. Belhoul holds degrees in Finance, Management Information Systems, and E-Commerce from Boston University and an honorary doctorate from Middlesex University Dubai. He is also a member of various UAE entities.
Binance Blockchain Week is described on its website as a conference that gathers innovators, founders, investors, regulators, and officials to discuss the future of blockchain and Web3. The theme for this year's conference is "Momentum." The event's website states: "Momentum propels our industry, not only taking us through challenges but also leading us to our biggest achievements."