Big Four accounting firm PwC's crypto head has left that role at the firm to set up a $75 million digital asset fund in Dubai, the Financial Times reported Thursday.
- Henri Arslanian's new fund, Nine Blocks Capital Management, has been granted provisional regulatory approval in the Gulf city, according to the report.
- The fund has received $75 million from its main backer, Nine Masts Capital, a Hong Kong-based hedge fund.
- Arslanian, who will stay at PwC as a senior adviser, cited ease of travel and Dubai's supportive regulatory environment for crypto firms as the reason for choosing it to establish a digital asset fund.
- Hong Kong would have been a "natural home," he said, but it still requires mandatory quarantine for most international travelers. He also considered Singapore.
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