- Fear & Greed Index drops to 23 on ISKP cryptocurrency donations alert.
- Bitcoin steady at $74,987 USD despite 0.2% gain amid volatility.
- XRP climbs 4.2% to $1.45 USD as investors seek alternatives.
MEMRI reported on April 16, 2026, that an ISKP-affiliated outlet urges cryptocurrency donations to undermine Gulf fintech stability in hubs like UAE's VARA and Saudi Arabia's SAMA.
Gulf regulators intensify monitoring of crypto flows. Blockchain explorers reveal suspicious patterns from high-risk regions.
Fear & Greed Index reaches 23, signaling extreme fear, per [CoinMarketCap charts](https://coinmarketcap.com/charts/#fear-and-greed-index). Bitcoin trades at $74,987 USD, gaining 0.2% daily. XRP rises 4.2% to $1.45 USD as investors shift to alternatives.
ISKP Cryptocurrency Donations Exploit UAE VARA Growth
Dubai's VARA, the Virtual Assets Regulatory Authority, oversees AED 120 billion (USD 32.7 billion) in licensed virtual asset transactions in Q1 2026, according to VARA's official quarterly report. Traders in the Dubai International Financial Centre (DIFC) scan blockchain data for ISKP-linked wallets.
The ISKP outlet disseminates wallet addresses on Telegram channels, exploiting cryptocurrency pseudonymity. Chainalysis' 2024 Crypto Crime Report notes illicit flows persist at 0.34% of total volume despite declines, including terror financing.
UAE compliance teams at DFSA-regulated firms flag transactions from Pashto-speaking regions. VARA mandates KYC for all VASPs, virtual asset service providers.
Saudi SAMA Counters ISKP Threats in Fintech Sandbox
Saudi Arabia's Central Bank, SAMA, pilots its digital riyal CBDC to diversify beyond oil under Vision 2030. SAMA Governor Ahmed AbdulKareem Alkholifey stated in a March 2026 press release that "crypto vigilance strengthens our fintech leadership."
ISKP shifts from hawala networks to Bitcoin and Ethereum for global reach. MEMRI analysts, led by Senior Fellow Aymenn Jawad Al-Tamimi, track this propaganda pivot in Pashto and Dari media.
Riyadh's CMA sandbox tests DeFi protocols. Binance Bahrain, licensed by the Central Bank of Bahrain, integrates sukuk tokens compliant with Sharia principles.
MEMRI Tracks Jihadist Crypto Pivot Across GCC
The Middle East Media Research Institute (MEMRI) monitors ISKP outlets promoting cryptocurrency donations. MEMRI's April 16 report details Telegram posts soliciting BTC for operations targeting GCC economic hubs.
Gulf sovereign wealth funds invest heavily. Saudi PIF allocates SAR 10 billion (USD 2.67 billion) to digital assets as oil hedges, per PIF's 2025 annual disclosure. UAE's Mubadala follows with AED 5 billion in blockchain ventures.
Youth retail trading booms via apps like eToro and Rain, heightening exposure. Qatar Financial Centre (QFC) deploys Chainalysis tools for real-time monitoring.
Abu Dhabi and Doha Bolster Defenses
Abu Dhabi's ADGM FSRA regulates stablecoins and tokenized assets. Hub71 accelerators support 200+ blockchain startups, focusing on traceable ledgers.
Qatar's QFC partners with Elliptic for AI-driven surveillance. UN Counter-Terrorism Committee reports, published in 2025, highlight crypto's role in terror financing, urging FATF-aligned standards.
Privacy coins like Monero and mixers challenge detection. Dubai's DFSA requires VASPs to report transactions over USD 1,000 from high-risk jurisdictions.
Cultural and Commercial Crypto Adoption Raises Stakes
Doha traders use crypto apps daily. Sharjah museums accept NFTs for art. Bahrain's Manama hosts fintech summits addressing illicit flows via GCC task forces.
Emirates NBD trials BTC remittances. First Abu Dhabi Bank (FAB) digitizes murabaha financing. Alserkal Avenue in Dubai blends NFTs with Emirati heritage.
CoinDesk reported in November 2023 that terror groups raised USD 41 million in crypto post-October 7, per Elliptic data, underscoring persistent risks.
GCC Regulators Lead Global Response to ISKP Threat
Riyadh shares intelligence through GCC-wide platforms. Joint FATF compliance harmonizes AML rules. Startups develop quantum-resistant blockchains and stablecoins pegged to SAR and AED.
SAMA and VARA collaborate on cross-border tracking. ISKP cryptocurrency donations fail against this resilience, preserving Gulf fintech dominance. MEMRI continues monitoring to preempt escalations.
