TechFlow news, Nine Blocks Capital Management in Dubai has become the first cryptocurrency hedge fund to obtain a license from Dubai's Virtual Assets Regulatory Authority (VARA), establishing Dubai as its global headquarters. Nine Blocks employs a market-neutral trading strategy, capitalizing on arbitrage opportunities and market inefficiencies within the crypto sector. VARA's comprehensive regulations have created a favorable ecosystem for crypto businesses in Dubai. Co-founders of Nine Blocks stated this has made the crypto community a convenient hub for communication and information sharing.
Earlier news reported that Henri Arslanian, former head of crypto at PwC, had left his position and founded the new crypto fund Nine Blocks Capital Management in Dubai, with assets under management reaching $75 million. Initial funding was fully provided by Hong Kong-based hedge fund Nine Masts Capital.
