Latest news with #BaderAlKalooti
Express Tribune
4 days ago
- Business
- Express Tribune
IT ministry, Binance Academy launch nationwide blockchain education drive
Under the agreement, university educators will undergo intensive training in blockchain fundamentals, including BNB Chain, Solidity programming, and essential Web3 concepts. PHOTO: BINANCE WEBSITE Listen to article In a landmark move to promote digital literacy and future-ready skills, Binance Academy has partnered with Pakistan's Ministry of Information Technology and Telecommunication (MoITT) to roll out a nationwide blockchain education initiative. The programme is set to train 300 university educators and reach over 80,000 students across 20 institutions by 2026. The collaboration falls under Binance's Global University Outreach Program (GUOP), the world's largest blockchain education drive, aiming to cultivate a new generation of Web3 professionals. The initiative aligns with Pakistan's national digital transformation goals, positioning the country as a growing hub of blockchain expertise. Under the agreement, university educators will undergo intensive training in blockchain fundamentals, including BNB Chain, Solidity programming, and essential Web3 concepts. Upon certification, they will independently teach the newly developed curriculum. Students completing the courses will also receive official accreditation. 'As blockchain reshapes the global financial landscape, empowering people with the right skills is essential,' said Bader Al Kalooti, Head of Growth and Operations for the Middle East, Africa, and South Asia at Binance. 'This partnership marks a significant step toward building a knowledgeable workforce ready to drive digital innovation.' Welcoming the initiative, Minister of IT and Telecom, Ms. Shaza Fatima Khawaja, noted its potential impact on Pakistan's long-term economic trajectory. 'This partnership contributes to our digital transformation by positioning Pakistan as a global source of skilled blockchain talent,' she said. 'By collaborating with Binance and the Blockchain & AI Technology Center, we are equipping our students to lead in the digital economy.' Binance Academy has been active in Pakistan since 2022, having already trained over 3,000 students across 13 universities in three provinces. The new programme expands that effort on a national scale, leveraging past success to deliver widespread access to cutting-edge technology education. Globally, the GUOP began in Kazakhstan in 2023 and has since expanded to over 20 countries. Its broader target is to impact more than 200 universities across 50 countries, reaching one million students by 2026. The Binance Academy–MoITT partnership represents a significant step in embedding blockchain education into Pakistan's academic framework. By focusing on practical skills and global competitiveness, the initiative is expected to foster a generation of innovators prepared to lead in the digital economy — both locally and internationally.
&w=3840&q=100)
Business Standard
06-05-2025
- Business
- Business Standard
'Bitcoin, Ethereum remained most traded cryptos amid stock market crash'
Cryptocurrencies, especially bitcoin, are back in the limelight following the return of Donald Trump at the White House. Bader Al Kalooti, MENASAT head of growth & operations at Binance, shares his views on the road ahead for cryptocurrencies, cybersecurity, and compliance issues for crypto exchanges in an email interview with Kumar Gaurav. Edited excerpts: How has the trading in cryptocurrencies been in the last 6–8 months amid the stock market crash and the rise of gold? Which coins found takers? Despite corrections in traditional equities and a renewed focus on gold as a store of value, the crypto market has remained active, albeit with regional variations in the last 6 – 8 months. Globally and in India, bitcoin (BTC) and Ethereum (ETH) remained the most traded assets due to their market dominance and established use cases, while stable coins like Tether also saw significant traction as volatility hedges. This is largely because BTC is viewed by many as a long-term store of value akin to digital gold, especially in times of macroeconomic uncertainty, while ETH remains the backbone of decentralised finance (DeFi) and smart contract development, driving much of the utility and innovation in the crypto space. Some analysts believe that BTC needs to decouple from a declining NASDAQ to prove its safe haven store-of-value status like gold. Do you agree? The narrative around BTC as "digital gold" is one that has gained momentum, especially during inflationary periods. However, data over the last few years shows that BTC's price action has often been correlated with high-growth tech stocks, particularly during periods of broader market stress. This is likely because many institutional investors treat crypto as part of a risk-on portfolio allocation. That said, over longer cycles, BTC has shown the potential to behave differently, especially in economies with high remittance demand. Whether BTC fully decouples from traditional markets is yet to be seen. How do you see long-term adoption of cryptocurrencies, including institutional investments, influencing the market's recovery and growth? Long-term adoption will be a cornerstone of the crypto market's sustainability. Over the last few years, we have seen growing institutional interest from hedge funds and asset managers to payment processors and even public companies integrating blockchain solutions. This trend brings not just capital but also deeper due diligence, governance, and infrastructure development. In India, we have seen growing interest in blockchain innovation, particularly in sectors like digital identity and supply chain. What are your views on altcoins and meme coins? Altcoins represent a wide spectrum of use cases from smart contracts and scaling solutions to decentralised finance (DeFi) and gaming. Each project brings a different value proposition, and some have strong development ecosystems that contribute meaningfully to the blockchain space. Meme coins, on the other hand, are often driven by social sentiment and community culture. While they may not always have strong fundamentals, they highlight the participatory nature of the crypto ecosystem. We urge caution and responsible trading particularly with highly volatile assets like meme coins. As an exchange, what are your compliance costs as a percentage of revenue and profit (PAT)? While the exact numbers are not publicly disclosed, our investment in compliance has grown exponentially in recent years. This includes scaling internal teams, onboarding seasoned professionals from the regulatory and law enforcement space, and implementing advanced technological frameworks like real-time transaction monitoring and AI-based fraud detection. Typically, how much does a crypto exchange spend on cybersecurity as a percentage of revenue and PAT? Cybersecurity is one of the largest and fastest-growing cost centers in our operational structure. Though specific numbers vary, Binance allocates nearly double-digit percentages of operational expenditure to cyber defence. This includes internal security protocols, continuous system penetration testing, multi-factor authentication, cold wallet storage, bug bounty programs, and partnerships with global cyber intelligence firms. Our SAFU (Secure Asset Fund for Users) is a prime example of our commitment to user protection, with a fund size of $1 billion in USDC, designed to safeguard users in extreme cases.
&w=3840&q=100)
Business Standard
06-05-2025
- Business
- Business Standard
Bitcoin, Ethereum remained most traded cryptos amid stock market crash
Cryptocurrencies, especially bitcoin, are back in the limelight following the return of Donald Trump at the White House. Bader Al Kalooti, MENASAT head of growth & operations at Binance, shares his views on the road ahead for cryptocurrencies, cybersecurity, and compliance issues for crypto exchanges in an email interview with Kumar Gaurav. Edited excerpts: How has the trading in cryptocurrencies been in the last 6–8 months amid the stock market crash and the rise of gold? Which coins found takers? Despite corrections in traditional equities and a renewed focus on gold as a store of value, the crypto market has remained active, albeit with regional variations in the last 6 – 8 months. Globally and in India, bitcoin (BTC) and Ethereum (ETH) remained the most traded assets due to their market dominance and established use cases, while stable coins like Tether also saw significant traction as volatility hedges. This is largely because BTC is viewed by many as a long-term store of value akin to digital gold, especially in times of macroeconomic uncertainty, while ETH remains the backbone of decentralised finance (DeFi) and smart contract development, driving much of the utility and innovation in the crypto space. Some analysts believe that BTC needs to decouple from a declining NASDAQ to prove its safe haven store-of-value status like gold. Do you agree? The narrative around BTC as "digital gold" is one that has gained momentum, especially during inflationary periods. However, data over the last few years shows that BTC's price action has often been correlated with high-growth tech stocks, particularly during periods of broader market stress. This is likely because many institutional investors treat crypto as part of a risk-on portfolio allocation. That said, over longer cycles, BTC has shown the potential to behave differently, especially in economies with high remittance demand. Whether BTC fully decouples from traditional markets is yet to be seen. How do you see long-term adoption of cryptocurrencies, including institutional investments, influencing the market's recovery and growth? Long-term adoption will be a cornerstone of the crypto market's sustainability. Over the last few years, we have seen growing institutional interest from hedge funds and asset managers to payment processors and even public companies integrating blockchain solutions. This trend brings not just capital but also deeper due diligence, governance, and infrastructure development. In India, we have seen growing interest in blockchain innovation, particularly in sectors like digital identity and supply chain. What are your views on altcoins and meme coins? Altcoins represent a wide spectrum of use cases from smart contracts and scaling solutions to decentralised finance (DeFi) and gaming. Each project brings a different value proposition, and some have strong development ecosystems that contribute meaningfully to the blockchain space. Meme coins, on the other hand, are often driven by social sentiment and community culture. While they may not always have strong fundamentals, they highlight the participatory nature of the crypto ecosystem. We urge caution and responsible trading particularly with highly volatile assets like meme coins. As an exchange, what are your compliance costs as a percentage of revenue and profit (PAT)? While the exact numbers are not publicly disclosed, our investment in compliance has grown exponentially in recent years. This includes scaling internal teams, onboarding seasoned professionals from the regulatory and law enforcement space, and implementing advanced technological frameworks like real-time transaction monitoring and AI-based fraud detection. Typically, how much does a crypto exchange spend on cybersecurity as a percentage of revenue and PAT? Cybersecurity is one of the largest and fastest-growing cost centers in our operational structure. Though specific numbers vary, Binance allocates nearly double-digit percentages of operational expenditure to cyber defence. This includes internal security protocols, continuous system penetration testing, multi-factor authentication, cold wallet storage, bug bounty programs, and partnerships with global cyber intelligence firms. Our SAFU (Secure Asset Fund for Users) is a prime example of our commitment to user protection, with a fund size of $1 billion in USDC, designed to safeguard users in extreme cases.
The Hindu
28-04-2025
- Business
- The Hindu
Crypto market in India, Sri Lanka, and other South Asian countries is 'rapidly maturing': Report
South Asia's crypto market, including India and Sri Lanka, is 'rapidly maturing' as investors are focusing on security and education even while a greater number adopts crypto, according to a report by Binance, one of the world's largest cryptocurrency exchanges. The Asia Crypto Security Survey involved the study of 29,847 valid responses, with 3,321 of these coming from South Asia. Rather than being a market of early adopters, Binance's survey noted that nearly 28% of those surveyed in the region started adopting crypto around six months ago. An almost equal segment has been in the crypto market for over a year, while some have been active for more than two years, said Binance. 'This blend of newcomers and seasoned users signals an ecosystem in transition: evolving from speculative interest to sustained participation,' noted the company in a press release. In addition to this, more than 64% of respondents said they used crypto exchanges several times a week or even daily. The survey highlighted respondents' desire to see more anti-scam education - especially in the form of a gamified experience - via their crypto platforms. One proposed improvement that received a great deal of support was simplifying technical content on crypto platforms. 'This data clearly shows that South Asian crypto users are serious, discerning, and increasingly security-conscious. These are not just passive users; they're tech-savvy individuals engaging with crypto exchanges multiple times a week, even daily. They're building knowledge, not just portfolios,' said Bader Al Kalooti, MENASAT Head of Growth & Ops at Binance. 'What they're asking for isn't hype or high-risk speculation—they're demanding trustworthy platforms, transparent protections, and interactive education. For any platform looking to build long-term user loyalty, the message is clear: empower your users, earn their trust, and grow with them,' Al Kalooti added.
