Happy Sunday Everyone!

We have landed in Doha and will bring you the updates from the Web Summit Qatar 2025 on all our social and digital channels. Stay tuned!

Here’s what’s making waves in business today:

🔹 Bybit Offers $140M Bounty After Historic $1.5B Crypto Hack – The Dubai-based crypto exchange is calling on cybersecurity experts to help recover stolen funds in the industry's biggest-ever hack.

🔹 Reebok Faces Global Boycott Over Israeli Football Sponsorship – The sportswear brand is under pressure after partnering with the Israel Football Association, following similar backlash that forced Puma and Errea to withdraw.

🔹 Saudi Billionaire Olayan Bets Big on Female Founders – Lubna Olayan’s investment firm is backing women-led startups, helping close MENA’s gender funding gap.

Scroll down for details.

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🚨 Bybit Offers $140M Bounty After Historic $1.5B Crypto Hack 🚨

📰 What is it about?

• Dubai-based crypto exchange Bybit suffered the biggest hack in industry history, losing over 400,000 ETH ($1.5 billion) in a sophisticated cyber attack.

• Hackers exploited a vulnerability in an ETH cold wallet during a routine transfer.

• Bybit responded quickly, securing funds, locking down systems, and working with top cybersecurity experts.

• Withdrawals remain open, and Bybit has enough assets ($20B) to cover losses if needed.

💡 Why it matters?

• This is the largest crypto theft ever, surpassing the $611M Poly Network hack in 2021.

• The attack raises major concerns about crypto security, even for top-tier exchanges.

• Crypto markets reacted negatively, with Ethereum dropping 6.7% and Bitcoin falling nearly 3%.

• Bybit’s ability to recover funds will be a key test for industry-wide security standards.

🔜 What’s next?

• Bybit launched a $140M bounty program, offering 10% of recovered funds to cybersecurity experts who help track the hackers.

• The exchange is partnering with major industry players to block stolen assets from being sold.

• Bybit plans to completely revamp its security infrastructure and set new crisis management standards.

• Investigations are ongoing, with authorities and forensic experts tracing the hackers’ movements.

Web Summit Qatar 2025 Kicks Off Today in Doha

Web Summit Qatar 2025 is set to take place from February 23 to 26 at the Doha Exhibition and Convention Center (DECC). Building on the success of its inaugural edition, this premier technology conference aims to unite over 15,000 attendees from 180 countries, including 1,000 startups and 400 investors.

The event will feature an impressive lineup of speakers, such as Alexis Ohanian, Founder & General Partner of Seven Seven Six and Co-Founder of Reddit; Eduardo Saverin, Co-founder and Co-CEO of B Capital; Alexandr Wang, Founder and CEO of Scale AI; and Laura Chambers, CEO of Mozilla.

Web Summit Qatar 2025 serves as a vital platform for networking, collaboration, and idea exchange, fostering innovation and entrepreneurship in the Middle East and beyond. The conference will cover a wide range of topics, including artificial intelligence, fintech, cybersecurity, and digital transformation, providing attendees with insights into the latest industry trends.

With its strategic location and commitment to technological advancement, Qatar continues to position itself as a global hub for the tech industry, making Web Summit Qatar 2025 a must-attend event for professionals and enthusiasts alike.

We, Smashi Business, will be attending the event to bring you all the updates. You can follow us here…

Reebok Faces Global Boycott Over Israeli Football Sponsorship

📰 What is it about?

• Reebok has signed a two-year sponsorship deal with the Israel Football Association (IFA).

• Critics say the IFA includes six clubs based in illegal West Bank settlements, linking it to Israel’s occupation of Palestinian territories.

• The Boycott, Divestment, and Sanctions (BDS) movement is calling for a global boycott of Reebok unless it withdraws from the deal.

💡 Why it matters?

• Puma and Errea, two previous IFA sponsors, ended their contracts after facing intense boycott pressure.

• The BDS movement has successfully influenced major brands to cut ties with Israeli institutions in the past.

• Reebok’s decision could have global business implications, as consumer activism gains traction.

🔜 What’s next?

• Reebok has not yet responded to the growing backlash.

• Activists plan to escalate their boycott campaign, potentially affecting Reebok’s global sales and reputation.

• If Reebok withdraws from the deal, it would mark another BDS campaign success. If not, the company risks long-term damage from continued protests.y, capitalizing on the growing demand for online car marketplaces.

Markets

Saudi Billionaire Olayan Bets Big on Female Founders

📰 What is it about?

• Lubna Olayan’s investment firm, Dara Holdings, is making major investments in female-led startups across the Middle East.

• Recent investments include:

  • Qeen.ai, a Dubai-based AI startup co-founded by ex-Google exec Dina Alsamhan.

  • BioSapien, an Abu Dhabi drug delivery platform led by Dr. Khatija Ali.

  • Systemiq Capital, a climate-tech firm led by ex-Goldman Sachs banker Irena Spazzapan.

• Dara Holdings is also supporting a social-impact fund at the UK-registered charity Alfanar.

💡 Why it matters?

• Female-founded startups received just 1.2% of total funding in MENA last year.

• Olayan’s investments help close the gender financing gap and encourage more women in business.

• Saudi reforms are increasing female participation in entrepreneurship and the economy, boosting GDP by 12%.

🔜 What’s next?

• Dara Holdings will continue investing in female-led startups and social impact ventures.

• More high-net-worth women globally, including in Saudi Arabia, are launching family offices to control wealth and drive investments.

• With Olayan’s influence, more capital may flow into women-led businesses, changing the startup ecosystem in the region.

🔍In other news…

• Mona Kattan Aims to Take Kayali Worldwide.

• Errol Musk: Musk Tower will be a ‘truly international institute’.

• Oversubscribed Adnoc Gas listing raises almost $3bn.

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