Binance Names Yi He Co-CEO; Ripple’s RLUSD Cleared In Abu Dhabi; McGregor-Khabib Clash Over NFTs

Happy Wednesday everyone!

We are back after the UAE’s 54th Eid Al Etihad and the digital assets market in MENA is just heating up. Some events to look out for are: Binance Blockchain Week 2025, which started today, and BTC MENA Conference will take place at Adnec Center, Abu Dhabi on December 8 and 9.

News-wise, Binance elevated co-founder Yi He to co-CEO alongside Richard Teng, blending crypto-native insight with regulatory experience. In the UAE, Ripple scored a regulatory win as its RLUSD stablecoin was approved for institutional use in Abu Dhabi’s ADGM, expanding its regional footprint. Meanwhile, UFC star Conor McGregor took aim at Khabib Nurmagomedov’s NFT drop, only to be called out himself over his failed memecoin launch, highlighting the risks of celebrity-backed digital assets.

Before moving on, follow us on Instagram and X so stay updated about Blockchain & Crypto News in the Middle East and North Africa.

Dubai-based Binance has appointed co-founder Yi He as co-CEO, formalizing her leadership role alongside Richard Teng. Announced at Binance Blockchain Week, the move elevates one of the exchange’s original architects, expanding her influence across product innovation, community growth and strategic operations.

The dual-CEO structure blends He’s crypto-native background with Teng’s regulatory and financial experience. As Binance navigates global scrutiny following CZ’s exit, the leadership pairing signals stability, continuity, and renewed strategic alignment across markets, institutions, and emerging digital asset services.

Binance is doubling down on institutional products, custody partnerships, and white-label crypto solutions for banks and brokerages. Under shared leadership, the exchange is expected to accelerate new services, broaden its global presence, and deepen relationships with traditional finance players entering digital assets.

Ripple’s dollar-pegged stablecoin RLUSD has been approved for institutional use in Abu Dhabi’s financial zone, ADGM. Regulated firms can now deploy RLUSD for permitted activities, following recognition as an Accepted Fiat-Referenced Token by the Financial Services Regulatory Authority.

The approval reinforces RLUSD’s growing adoption for payments, collateral, and treasury management, expanding Ripple’s footprint in the UAE. It underscores the region’s commitment to integrating digital assets into regulated financial systems, bridging traditional finance with blockchain innovation.

Ripple is set to scale RLUSD usage across UAE institutions, building on prior approvals in Dubai’s DIFC. With early adoption by banks and fintechs, and new central bank regulations bringing DeFi and Web3 under oversight, Ripple is poised for deeper regional expansion and compliance-driven growth.

UFC star Conor McGregor criticized Khabib Nurmagomedov’s NFT drop featuring digital papakhas, accusing him of exploiting his heritage and late father’s name. Crypto analyst ZachXBT fired back, highlighting McGregor’s own failed memecoin launch, REAL, which raised only 39% of its target before refunds were issued.

The exchange underscores the risks and controversies in celebrity-backed digital assets. McGregor’s misstep illustrates how high-profile figures can face scrutiny over token launches, while the broader memecoin market continues its sharp decline, shaken by failed projects and regulatory skepticism.

Memecoins remain in a bear market, with overall capitalization dropping to a record low of $39.4 billion. Market observers are questioning whether celebrity-driven tokens can regain credibility or if stricter oversight and market caution will permanently limit hype-driven crypto launches.

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