Phoenix Group CEO increases stake, reinforcing confidence in Long-term growth strategy
Abu Dhabi, UAE: Phoenix Group PLC (ADX: PHX, the 'Company' or the 'Group'), a pioneering global cryptocurrency, blockchain and next-generation digital infrastructure company, announces that CEO & Co-Founder Munaf Ali has significantly increased his stake in the company, reaffirming his strong belief in its prospects and long-term growth trajectory.
Since the public disclosure on ADX on November 18, 2024, Ali has acquired over 20 million ordinary shares of Phoenix Group through direct market purchases. This substantial investment highlights his deep confidence in the Company's growth potential and his commitment to aligning executive interests with those of shareholders.
'As we enter a year of high-impact expansion, I firmly believe in Phoenix Group's long-term potential, as these purchases show,' said Munaf Ali, CEO & Co-Founder of Phoenix Group 'Increasing my holding in the Company reflects my belief in our differentiated strategy, high quality operations, and future growth. Phoenix Group is at the forefront of digital asset mining, and as a Board we remain fully focused on delivering growth and sustainable value creation for our shareholders.'
Strengthening Global Presence & U.S. Expansion
As previously announced, Phoenix Group will participate in the Cantor Global Technology Conference in New York City, USA, on March 11-12, 2025. This high-profile engagement will provide the Company with an opportunity to interact with leading U.S. institutional investors and strategic partners, further reinforcing the Group's presence in the U.S. market.
Additionally, Phoenix Group continues to evaluate the potential for a future U.S. listing, aligning with its ongoing expansion into the North American bitcoin mining sector. The Company's investments in the U.S. reflect a broader strategy to scale its high-margin self-mining operations and diversify its geographic footprint in 2025 and beyond.
About Phoenix Group
Phoenix Group is a multi-billion-dollar global technology leader headquartered in Abu Dhabi, UAE. Founded in 2017, the company has rapidly grown into a conglomerate with a diverse portfolio of businesses in the blockchain, crypto, and technology sectors.
As one of the world's top 5 Bitcoin miners, Phoenix Group is at the forefront of the digital asset revolution. With a strong focus on innovation, sustainability, and operational excellence, the company is driving the adoption of digital assets and blockchain technology. Phoenix Group operates multiple mining facilities in the US, Canada, Oman, Ethiopia, and the UAE, with a total mining capacity of 451 MW.
Phoenix Group is the first crypto and blockchain conglomerate in the region to be listed on the Abu Dhabi Securities Exchange. It also operates the largest mining farm in the MENA region.
Phoenix Group PLC media team contact:
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
14 hours ago
- Arabian Business
Crypto in 2025: Buy, wait or exit?
As cryptocurrency markets navigate through mid-2025, investors face a complex landscape of soaring prices, regulatory shifts, and evolving institutional adoption. With Bitcoin touching new heights over $110,000 in June 2025, the question among investors is whether this represents the ideal entry point or a dangerous peak. The bull case: Momentum and institutional backing The numbers offer a compelling outlook for crypto enthusiasts. Bitcoin has already made headlines this year by surging past its previous all-time high, touching over $110,295 in June 2025 before stabilising around $105,000 to $107,000. This performance has sparked enthusiasm among both retail and institutional investors. 'One reason why now could be a good time to invest in crypto is that generally risk assets such as crypto have performed well when financial conditions globally are loose and money is more available,' by Simon Peters, Crypto Analyst at eToro said in an exclusive interview with Arabian Business. The forecast from industry analysts remain optimistic. Bitcoin is projected to trade between $80,440 and $151,200 in 2025, with stretched targets of $175,000 to $185,000. Standard Chartered's Geoff Kendrick has been particularly bullish, forecasting BTC could climb to $120,000 by mid-year, with the potential to hit $200,000 by year-end. 'Global liquidity – essentially how much money is available in the global economy and a metric which the crypto markets closely mirror – is forecast to increase throughout the remainder of the year. Governments have trillions of dollars of debt from past years to refinance. Whether it is through quantitative easing or other means, as more money becomes available or newly introduced, it tends to find its way into markets, pushing up asset prices,' Peters explained. The broader fundamentals also appears strong. The global digital currency market size was estimated at $5.7 billion in 2024 and is projected to grow at a CAGR of 13.1 per cent from 2025 to 2030. This growth is being driven by institutional adoption and mainstream acceptance, with decentralised currency companies employing about 1.9 million people worldwide, with 228,700 new jobs added last year. 'Furthermore, as interest rates and borrowing costs fall for the consumer, the oversupply that was once going to debt repayments may find its way into crypto markets,' he added. Volatility and risks persist The virtual currency market's volatility continues to remain a concern. The first quarter of 2025 proved challenging for the market, with Bitcoin suffering its worst quarter performance in seven years, characterised by significant volatility and a prevailing downward trend. 'Before investing in general, one needs to consider their time horizon, i.e how long they can stay invested, as this will dictate how far along the risk curve one could go and if crypto should be considered in the first place. If the investor has a long-time horizon then crypto, as it is generally considered the most volatile of the asset classes, could be considered,' Peters explained. Regulatory uncertainty continues to shadow the market. The Bookings Institution highlighted ongoing concerns about market integrity, highlighting that this regulatory gap has created an environment in which scams, market manipulation, and misleading markets flourish, often retail investors' expense. The scale of market manipulation remains substantial, with Chainalysis' 2025 Crypto Crime Report identifying over $2.57 billion in potential 'wash trading' activity. The International Monetary Fund (IMF) warned about systemic risks, particularly in emerging markets. Widespread adoption of blockchain-based assets in these countries could undermine the effectiveness of monetary policy, circumvent capital flow management measures, exacerbate fiscal risks and divert resources from financing the real economy. Financial crime remains a persistent challenge, with regulators and policymakers expected to focus scrutiny on crypto-enabled investment scams frequently known as 'pig butchering' throughout 2025. Peters also highlighted the impact of geopolitical factors on the crypto market, explaining that, 'Geopolitical factors such as the current conflict in the Middle East could cause some fear and uncertainty to spread amongst markets, crypto included. If the agreed ceasefire between Israel and Iran is broken, we could see a sell-off.' 'In addition, reciprocal tariffs imposed by the US on its trade partners will be one to watch in the coming months as this has impacted crypto markets previously,' he added. The regulatory landscape The regulatory environment is experiencing significant changes that could impact investment decisions. Early 2025 has seen a surge in legislative proposals aimed at imposing stricter disclosure requirements, improved reserve management, and operational transparency for stablecoin issuers. The Trump administration's crypto-friendly stance has created new optimism in the sector. The administration's support for stablecoins and other cryptocurrencies could reduce regulatory enforcement and drive adoption, according to Grant Thornton's analysis. The shift was highlighted at the World Economic Forum's Davos 2025 meetings, where Donald Trump's pro-crypto stance is expected to lead to new regulation in the US, with experts discussing whether other countries might follow suit. The Middle East: A regional crypto hub The Middle East has emerged as a strong player in the global virtual currency landscape, with the UAE leading regional adoption and regulatory clarity. The UAE handled over $25 billion in crypto transactions in 2022, with over 1,000 crypto firms operating under strict licensing and AML rules, positioning the country as a leading crypto-friendly jurisdiction globally. Dubai has established itself as a global crypto hub, with Statista predicting that the market in the UAE will reach $254.3 million in revenue by 2025. The emirate's regulatory framework, overseen by the Virtual Assets Regulatory Authority (VARA), has attracted international attention and investment. Recent developments highlight the UAE's commitment to digital assets. In December, the state introduced its first UAE dirham-backed stablecoin – AE Coin, and last month, investment group MGX made a $2 billion investment in Binance – one of the largest deals ever in the crypto industry. This level of institutional commitment signals the country's intent to become a global digital finance center. The broader MENA region shows significant crypto adoption, with Turkey ranking as the largest market in MENA and seventh globally, receiving $136.8 billion in value. The UAE's balanced market benefits from regulatory clarity, while Turkey sees market maturation from stablecoins and high consumer engagement. However, the regional landscape remains varied. Saudi Arabia maintains a more cautious approach, with crypto having quasi-legal status, while Qatar imposes more restrictive measures. Saudi Arabia's cautious approach hasn't prevented significant investment interest. Corporate venture capital investors accounted for 30 per cent of all unique investors in Saudi Arabia's venture market in 2024, higher than any other country in the MENA region. Additionally, Saudi Arabia's commitment to $600 billion in U.S. investments, with $20 billion going into AI and data centres, positions the crypto and blockchain industries to benefit from this infrastructure surge. The regional crypto ecosystem's maturation is evidenced by global venture capital investments in crypto companies totalling $5.4 billion in the first quarter of 2025, the best quarter since mid-2022, with significant activity centred in Dubai and the broader Gulf region. Investment considerations for 2025 For potential investors considering cryptocurrency exposure, several factors warrant careful consideration: Market timing: While Bitcoin has showed remarkable gains, conservative forecasts place Bitcoin trading consistently above $80,440 throughout the year, while more bullish projections suggest a ceiling of $151,200. This represents significant potential upscale but also substantial downside risk from current levels. Portfolio allocation: The recommendation from established financial advisors suggests that crypto can play a meaningful role in diversified portfolios but the 10 per cent to 40 per cent allocation range indicates this should be balanced against traditional assets and individual risk tolerance. Regulatory evolution: The changing regulatory landscape presents both opportunities and risks. While a more favourable regulatory environment could drive institutional adoption, new rules could also impact market dynamics and individual investment strategies. Technology and adoption: The employment growth and institutional infrastructure development suggest the cryptocurrency ecosystem is maturing beyond speculation toward utility-driven value creation. Cautious optimism with risk management The current market presents opportunities alongside substantial risks. The combination of improving institutional adoption, favourable regulatory trends, and continued technological development supports the case for strategic crypto exposure. However, the market's inherent volatility, regulatory uncertainties, and potential for manipulation demand careful risk management. 'Understand your time horizon first and how long you are prepared to be invested for. If you will need your capital back soon, perhaps you're looking to put a deposit down on a property for example, then crypto is probably not the best asset class to invest in at this moment in time,' Peters said. For those considering investment in 2025, the key lies in implementing a disciplined approach that aligns with personal risk tolerance and investment objectives. The dramatic price movements seen throughout 2025 demonstrate both the potential rewards and the risks that continue to define this evolving asset class. 'If you are prepared to hold for years then crypto could be an asset class to consider. Holding long-term gives you time to see a potential return on investment, as well as time for the crypto markets to recover from any crashes that could and very often do happen,' he explained. As with any high-risk, high-reward investment, education, proper diversification, and careful position sizing remain the fundamental principles for navigating the dynamic market. 'Finally, only invest with money that you can afford to lose. Rather than deploying all of your capital at one time, consider dollar-cost-averaging (i.e. investing a fixed amount of money into an asset at regular intervals) as this could reduce the risk of investing right before a downturn in the crypto markets and also dollar-cost averaging could potentially lower your average cost basis, giving you a greater return in the long run,' Peters concluded.
Al Etihad
18 hours ago
- Al Etihad
UAE stock markets extend gains in June, ADX up 2.8%, DFM jumps 4.1%
1 July 2025 14:13 REDDY (ABU DHABI)Despite a volatile regional backdrop, the UAE stock markets registered strong gains in June 2025, with the Abu Dhabi Securities Exchange (ADX) main index rising 2.8% and the Dubai Financial Market (DFM) index advancing 4.1%, according to Kamco Invest's latest GCC Markets Monthly performance reflected a continuation of positive momentum, with both exchanges recording their third consecutive monthly increases. Kamco Invest noted, 'GCC markets recover strongly despite geopolitical tensions and crude oil volatility,' pointing to a resilient investor sentiment across the ADX General Index closed June at 9,957.52 points, marking a year-to-date gain of 5.7% and a second quarter increase of 6.3%. The rally was broad-based, with eight out of 10 sector indices ending in the green. Real estate led the charge, surging 7.8%, followed by the utilities sector, which gained 6.7% on the back of a strong performance by Abu Dhabi National Energy Company (TAQA). The report noted that share prices rose in four of the five companies within the real estate individual stocks, Abu Dhabi National Co. for Building Materials was the top performer, soaring 125.3% in June. Other notable gainers included Fujairah Cement Industries (+77.2%) and Al Khaleej Investment Co. (+52.8%). On the downside, Insurance House fell 12%, while Oman & Emirates Investment Holding and Hily Holding dropped 10% and 9.7%, price movements were positive, trading activity on the ADX softened. The total value of shares traded declined by 14% to Dh26.3 billion, while volumes fell 4.4% to 6.6 billion shares. ADNOC Gas was the most traded stock by volume, followed by Multiply Group and Phoenix Group. In terms of value, First Abu Dhabi Bank led with Dh3.3 billion, trailed by IHC and ADNOC the Dubai bourse, the DFM General Index closed at 5,705.76 points, taking its year-to-date growth to an impressive 10.6%. Sectoral performance was largely positive, with six out of eight sector indices posting gains during the month, while the remaining two recorded declines. The materials index jumped 21.9%, followed by a 10.8% rise in the industrial sector. The heavyweight financial and real estate indices also recorded robust gains of 4.7% Finance emerged as the month's best-performing stock, climbing 49.1%. Union Properties and United Foods Co. also posted notable increases of 34.6% and 29.5%, respectively. The utilities sector, led by DEWA, contributed a 4.3% gain to the overall report observed that 'trading activity on the exchange increased in June despite the Eid holidays,' with volumes up 54.6% to 7 billion shares. However, the value traded remained flat at Dh15.1 billion. Union Properties topped the monthly trading volume chart with 1.2 billion shares exchanged, while Emaar Properties led in traded value with Dh3.6 the macroeconomic front, the report also cited the UAE Central Bank's projections, noting that the country's real GDP is expected to grow by 4.4% in 2025 and 5.4% in 2026. The central bank attributed the outlook to 'strong momentum in non-hydrocarbon activities and robust performance in the hydrocarbon sector,' aided by revised OPEC+ production estate sentiment in Dubai remains upbeat. Data cited by Kamco from Property Finder highlighted record-breaking activity in May 2025, with total sales hitting Dh66.8 billion. Off-plan transactions saw a staggering 314% year-on-year increase, while the ready market also posted strong 21% the robust gains across ADX and DFM reflect sustained investor confidence, improving economic fundamentals, and increasing interest in real estate, finance, and energy sectors. As Kamco concluded, the 'broad-based recovery' and 'consistent monthly advances' underscore the resilience of the UAE's financial markets heading into the second half of 2025. Looking at the regional picture, Kamco noted: 'After falling to the lowest level in two months during the first half of June 2025, the GCC market index witnessed strong and consistent recovery during the second half of the month, resulting in a 3.1% gain in the MSCI GCC index.' The gains were broad-based, with almost all markets closing in positive territory, barring Oman, which dipped 1.3%. Kuwait led regional performance with a 4.2% rise, followed by Dubai at 4.1%. Qatar added 2.7% while Saudi Arabia gained 1.6% during the month.
Arabian Post
19 hours ago
- Arabian Post
Binance's Futures Market Share Nears Monopoly
Binance now commands a staggering 87 per cent of global taker futures volume, overshadowing all other platforms combined. OKX, Deribit, BitMEX and Bybit together account for just 10 per cent, underscoring Binance's extraordinary grip on the derivatives market. Liquidity advantages explain this dominance. Binance routinely records 24‑hour futures volumes exceeding US$50 billion and open interest of similar scale, dwarfing competitors. Such vast trading depth appeals to institutional players and retail investors alike, reinforcing Binance's centrality in price discovery and leverage trading. Data from on‑chain analytics firm CryptoQuant notes that Binance alone accounts for 87 per cent of global taker buy volume. This metric tracks market‑order consumption of liquidity, a key indicator of exchange activity in fast‑moving markets. Analysts say this dominance not only reflects Binance's scale but also amplifies its influence on global derivatives flows. ADVERTISEMENT While Binance's dominance is clear, other exchanges continue to carve out niche roles. Bybit holds steady as the second largest player in perpetuals, and OKX remains a major competitor for altcoin futures. Deribit continues its leadership in the Bitcoin options space, though its slice of futures volume remains small in comparison. Regulatory scrutiny, however, poses threats to Binance's hegemony. The exchange has confronted legal challenges across multiple jurisdictions, including high‑profile cases in the US, UK, Canada, Belgium and Nigeria. While a US plea agreement in late 2023 imposed a US$4‑billion fine and saw Changpeng Zhao step aside, Binance has since implemented compliance reforms and launched regional ventures to navigate regulatory barriers. Despite regulatory headwinds, Binance's infrastructure remains formidable. Its capacity to offer up to 125× leverage on Bitcoin futures, along with hundreds of perpetual and quarterly contracts, attracts traders seeking high‑speed, high‑stakes strategies. The exchange also sustains deep liquidity across both USDT‑margined and coin‑margined instruments, further cementing its appeal. Market observers flag potential risks in concentrated market power. Binance's outsized role means shifts in its taker behaviour can reverberate across crypto markets. A recent dip in Binance's taker buy/sell ratio to below 1.0—while other platforms remained net buyers—sparked concern that Binance‑driven selling pressure could herald broader price corrections. Still, Binance's dominance exerts a self‑reinforcing effect. Traders aim to engage where order books are deepest and execution is fastest—creating a virtuous cycle that keeps Binance at the centre. For competitors, gaining even modest gains in market share requires overcoming Binance's head start, deep pockets and global reach. Looking ahead, industry watchers see Binance's influence persisting as long as it maintains technical robustness, product innovation and competitive fees. Rival exchanges are stepping up with new offerings—such as OKX's grid trading bots, Bybit's aggressive funding strategies, and Deribit's options liquidity—but their futures volume remains dwarfed.
