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Luma Protocol, incubated by PopChain and Nivex, officially entered the market on 20 September 2025, positioning itself as a new architecture in decentralized finance that anchors value in computing power rather than speculative token mechanics. At midday UTC+8 the project launched its pre-sale and, within hours, issued the first mining rewards — signalling a shift from purely token-based incentives toward infrastructure-backed models.

The project’s core proposition is that “Hash Power” — the computational capacity underlying blockchains — becomes a tangible, tradeable asset integrated into DeFi systems. Luma’s model seeks to counterbalance what its promoters describe as the unsustainable cycles of token subsidies that have affected prior generations of DeFi protocols. Underpinning the system, Luma plans to merge capital, computational resource markets, and application layers in a closed-loop infrastructure.

PopChain contributes its identity and settlement capabilities, while Nivex offers liquidity, exchange infrastructure, and compliance support. This strategic alignment aims to deliver an ecosystem where value issuance, transaction execution, and mining resource distribution interlock. According to the announcement, the first mining rewards were disbursed at midnight UTC+8, immediately after launching the pre-sale.

Market reaction to the LUMA token has been volatile. On the MEXC exchange, LUMA traded with a 24-hour jump of 26 per cent, reflecting speculative interest. Yet the token’s 7-day price variance is extremely steep, plunging nearly 99.97 per cent over the week, pointing to high risk and low liquidity stability. The circulating supply and full market capitalisation currently remain opaque.

Critics caution that the concept of tokenizing hash power is not without inherent risk. In the realm of blockchain security, high concentration of mining capacity has historically exposed smaller networks to attacks. The accessibility of mining power through services like NiceHash demonstrates how hash power can be rented and concentrated, creating vulnerability, especially for new entrants. At the same time, mainstream DeFi research underscores systemic risks emerging from leverage, protocol interdependence, and opacity in governance.

Luma’s governance architecture is not fully detailed in public documentation, but the model will need to grapple with decentralised decision-making, hardware centralisation, and incentives for fair participation. Without sufficient safeguards, the protocol may face the same challenges of centralisation, collusion, or exploitability that have troubled other DeFi platforms.

For its part, Nivex has been scaling its ecosystem prior to Luma’s debut. It recently launched a Web3 wallet integrated with PopChain, with plans to embed users into a flow from wallet to liquidity operations to settlement. This vertical integration may benefit Luma by driving demand for the infrastructure stack. Nivex also recently listed the POP/USDT trading pair, anchoring the POP ecosystem that underlies PopChain’s social finance ambitions.

On the supply side, the broader mining industry’s economics are under strain. Electricity, hardware depreciation, and operational costs continue to restrict profitable deployment of hash power. The Cambridge Digital Mining Report underscores that energy cost variance across geographies is a major barrier for expansion. Projects that seek to monetise compute power must navigate this cost differential.

More than 180 UAE government Chief AI Officers gathered in Washington under the aegis of the US-UAE Business Council to build partnerships with US tech firms and experts, intensifying the country’s drive in AI governance and cybersecurity. The event leveraged sessions with global business leaders and government officials to share expertise in advanced technology, highlighting the AI Chief Executives Model as a catalyst for digital governance reforms.

Engineer Mohamed bin Taliah, Chief of Government Services, underscored that AI adoption across UAE government remains a top priority, anchored in strategic goals to elevate digital governance globally. He asserted that engaging directly with leading technology companies offers vital exposure to best practices, and that empowering local talent via high-level training is essential to establishing an innovative and “smarter” digital future.

Dr Mohamed Al Kuwaiti, heading the Cybersecurity Council for the UAE Government, flagged an increase in complexity and frequency of cyber threats, saying that international cooperation is now non-negotiable. He described protection of critical infrastructure, data privacy, and AI-driven defence as areas requiring urgent collaboration, emphasising building resilience through national expertise and shared knowledge.

Dr Abdulrahman Al Mahmoud of the Artificial Intelligence, Digital Economy, and Remote Work Applications Office explained that the purpose of the visit is to position the UAE as a global node for innovation. He said the delegation’s exchanges aim at unlocking joint innovation opportunities, shaping practical AI solutions, and reinforcing the UAE’s digital transformation strategy.

Participants included leaders from SmartCohort, Dell Technologies, PwC, and organisations like Cisco, Google, IBM, Oracle, Applied AI, Akamai, Core42 and Cloudflare, among others.

SAP’s global chief executive Christian Klein announced a strategic expansion of cloud infrastructure in New Delhi today, unveiling the launch of SAP Software Cloud in India and urging that cloud computing and artificial intelligence must underpin India’s path towards self-reliance and a digitally fortified economy. He warned that India is on track to generate 10 zettabytes of data by 2025, and stressed that harnessing this data effectively will be critical for national growth.

Addressing an audience of business leaders, technologists, and government representatives, Klein emphasised that mission-critical infrastructure must increasingly rely on sovereign cloud offerings. These are systems where data storage, processing, and control are governed under local legal standards—ensuring both security and regulatory compliance. He added that many organisations will not yet have requirements for sovereign cloud, but sectors such as defence, utilities and others handling classified data are likely to lead adoption.

SAP India’s president and managing director, Manish Prasad, highlighted the firm’s 30-year legacy in the region, and the growing need to make AI “relevant”—not just in proof-of-concepts but in full-scale deployments. He made clear that India must benefit more from its data, not simply generate it. Enhanced capabilities in secure engineering, data sovereignty, and local control of cloud operations are being positioned as foundational elements for India’s next phase of growth.

One major component of SAP’s plan is investment: globally, the company is committing €20 billion by next year toward cloud infrastructure and expansion. India is being treated as a key strategic market for that investment. SAP says it will deliver the “full stack” for cloud solutions—including those with compliance, localised control planes and sovereign cloud services where required.

Klein also underscored that government policy, regulation and innovation capacity must keep pace with technological opportunity. India’s regulatory environment around data sovereignty and digital infrastructure is evolving, and sectors with critical or regulated data will demand clarity and trust in legal and technical frameworks. Without that, investing in sovereign cloud becomes more difficult for those clients.

Digital sovereignty loomed large in SAP’s message. Martin Merz, president of SAP’s sovereign cloud division, said that while physical infrastructure is important, operational, technical and legal dimensions of data sovereignty matter at least as much. He pointed out that SAP has already delivered sovereign cloud services to highly security-sensitive organisations globally, and that India offers “great potential.”

Dubai’s telecommunications provider du has begun rolling out its upgraded 5G+ network, aiming to double existing 5G speeds and unlock new technology-driven opportunities for both urban infrastructure and entrepreneurship. The rollout is concentrated initially in central zones of Dubai, Abu Dhabi and other major emirates, with plans to extend coverage more widely by the end of 2025.

Karim Benkirane, chief commercial officer at du, said 5G+ will enable the UAE to advance its smart city and sustainability agendas, while creating an ecosystem where start-ups can “really innovate in the future”. He added that the network will offer faster download speeds, lower latency, and more seamless connectivity—features vital for AI-powered applications, ultra-HD streaming, gaming and real-time virtual or augmented reality experiences.

The infrastructure uses 5G‐Advanced architecture, operating independently of existing LTE networks, and requires compatible devices and SIMs or eSIMs to access the enhanced service. du has said that users leveraging the 5G+ network in busy or downtown areas can expect significantly improved performance.

Enterprise uses are being emphasised as well. du believes that the upgraded network will support government initiatives and private sector innovation, particularly in fields that depend heavily on low latency and reliable data throughput—such as smart traffic systems, IoT deployments, creator-led content, and AI for public services.

Smart city ambitions are aided by 5G+’s ability to maintain connectivity even in crowded zones and to deliver consistent performance as demand grows. The network’s enhancements are intended to sustain video calls, streaming and online collaboration, even in high-traffic environments. du has framed 5G+ as a cornerstone for future digital infrastructure across the UAE.

United Arab Emirates holds between 40 and 45 per cent share of the Middle East and Africa space market, which is estimated at US$18 billion, according to a report from the Boston Consulting Group. The UAE invested approximately US$443 million in civil space activities in 2024—nearly half of all government space spending across MEA.

Saudi Arabia and Qatar follow with civil space investments of about US$220 million each. Saudi Arabia accounts for an estimated 20–25 per cent of MEA government space spending, while Qatar contributes about 5 per cent.

Downstream services—such as satellite communications, navigation, and Earth observation—comprise roughly 70 per cent of the global space industry. The UAE is positioned to capture more than half of the downstream services market within MEA, while Saudi Arabia aims for over 20 per cent. Qatar’s role remains modest in downstream services, at just under 5 per cent.

All three countries are expected to grow at or above the global space economy’s compound annual growth rate of 5 per cent through 2033.

The report identifies several flagship programmes in the UAE—MBZ-SAT, the Hope Probe, and Arab 813—that are likely to generate returns of roughly 3-4 times the investment. These initiatives illustrate how long-term strategic planning, public-private partnerships, risk-tolerant policy frameworks, and global cooperation are central to the UAE’s leadership in the sector.

Saudi Arabia is expanding its international partnerships, including with NASA and Axiom, while Qatar’s Es’hailSat is strengthening its role in regional satellite communications. Digital policy integration—especially in satellite broadband, low Earth orbit constellations, and Earth observation—is emerging as a key success factor.

Creditors who complete required verification on FTX’s claims portal and comply with tax documentation will receive payouts via service providers BitGo, Kraken, or Payoneer. Funds are expected to arrive in accounts within three business days after distribution.

Class-5B U. S. customer entitlement claims will receive 40% in this round, elevating their cumulative recovery to 95%. “Dotcom” customers will obtain an additional 6%, bringing their total recovery to 78%. General unsecured and digital asset loan claims will be paid 24%, lifting them to 85% total recovery. Convenience claims will be paid at 120%, exceeding their original declared amounts.

To date, over $6 billion has been repaid to creditors across prior distributions under the plan.

The distributions are being overseen by the FTX Recovery Trust, which is executing on its court-approved strategy to restore assets and settle claims. The plan reflects a structured priority of classes: senior claims and verified claims first, with smaller or “convenience” classes handled in earlier rounds. Sam Bankman-Fried, FTX’s founder, is serving a 25-year sentence for fraud and conspiracy tied to the exchange’s collapse.