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MultiBank, MAG, Mavryk ink world’s largest $3B RWA tokenization deal

MultiBank Group, the world’s largest financial derivatives institution based in Dubai, has signed a landmark $3 billion real-world asset (RWA) tokenization agreement with United Arab Emirates (UAE)-based real estate giant MAG and blockchain infrastructure provider Mavryk.

The deal represents the largest RWA tokenization initiative globally to date and highlights the upcoming launch of MultiBank’s native utility token, MBG, according to a press release shared with Cointelegraph.

The partnership will bring MAG’s ultra-luxury real estate projects — including The Ritz-Carlton Residences, Dubai, Creekside and the Keturah Reserve — onto the blockchain via MultiBank.io’s regulated RWA marketplace.

Once tokenized, these assets will be available to global investors and will generate daily yield for holders directly on the platform.

“$3B worth of MAG’s real estate will be tokenized as individual RWA tokens on MultiBank’s platform, each represented on the Mavryk blockchain, as the underlying layer-1 infrastructure,” Talal Moafaq Al Gaddah, senior executive vice chairman of MAG, told

Eric Trump: USD1 will be used for $2B MGX investment in Binance

Abu Dhabi-based investment firm MGX will use a stablecoin linked to US President Donald Trump’s family to settle a $2 billion investment in Binance, the world’s largest cryptocurrency exchange.

The World Liberty Financial USD (USD1) US dollar-pegged stablecoin was launched by the Trump-associated crypto platform World Liberty Financial (WLFI) in March 2025.

MGX will use the USD1 stablecoin for its $2 billion investment in the Binance exchange, according to an announcement by Eric Trump during a panel discussion at Token2049 in Dubai. Trump, the son of the president, serves as executive vice president of the Trump Organization.

Source: Cointelegraph

MGX announced its investment in Binance on March 12, marking the first institutional investment in the exchange and one of the biggest funding deals in the entire Web3 industry.

At the time, Binance declined Cointelegraph’s request to disclose what stablecoin was

MEXC launches $300M Web3 fund, commits to ‘strategic investment’

Crypto exchange MEXC has announced a $300 million ecosystem development fund aimed at supporting Web3 projects over the next five years.

The initiative, unveiled at Token2049 in Dubai, is designed to support early-stage blockchain technologies, public chains, wallets, and decentralized tools critical to shaping the future of crypto infrastructure, according to a press release shared with Cointelegraph.

Selection criteria for projects looking to participate in the initiative will be announced soon.

“We are committed to strategic investment, focusing not just on exciting ideas and talented developers, but on initiatives with clear long-term potential,” MEXC chief operating officer Tracy Jin said.

She added that the priority is to back projects capable of achieving AAA status within three to five years.

MEXC fund to invest $60 million annually

Jin explained that the exchange aims to invest approximately $50 to $60 million annually,

Bitcoin eyes gains as macro data makes US recession 2025 ‘base case’

Key points:

Bitcoin traders wait for signals of US economic policy loosening as data forces the Federal Reserve into a corner.

Recession is more likely than not, sources say, amid rising unemployment and resurgent inflation.

Bitcoin and risk assets should ultimately gain from a recession shock.

Bitcoin (BTC) stands to gain as a US recession becomes the “base case scenario.”

Fresh analysis from sources including trading resource The Kobeissi Letter makes grim predictions for the US economy and Federal Reserve.

Fed’s “worst nightmare” gets real

US economic health is due to take a hit on the back of trade tariffs and the resurgent inflation, which may accompany them.

The latest macroeconomic data, which includes Q1 GDP and the Fed’s “preferred” inflation gauge, puts officials in a tight spot, Kobeissi says.

GDP came in markedly below expectations, turning negative against a forecast 0.3% gain.

US quarterly

Restaking can make DeFi more secure for institutional traders

Opinion by: Amitej Gajjala, co-founder and CEO of Kernel DAO

The restaking narrative has moved fast — from side conversations in validator circles to the forefront of DeFi infrastructure discussions.

It’s not hard to see why. DefiLlama states that major liquid restaking protocols now hold over $12 billion in total value locked (TVL), with dozens of middleware services aligning their security with Ethereum’s economic base layer. What started as an idea to increase capital efficiency for validators has evolved into a serious attempt to redefine how security is provisioned across decentralized systems.

While restaking is gaining momentum among crypto-native participants, institutions — the kind with multi-year horizons and regulatory constraints — still keep DeFi at arm’s length.

Not because the rewards aren’t attractive. Risk is still poorly understood, isolated and mitigated.

Restaking can change that.

Adding friction — where it’s needed most

Restaking isn’t about reducing risk to zero; it’s about introducing

Metaplanet to open US arm, plans to raise $250M for Bitcoin strategy

Metaplanet — a Japanese company focused on accumulating Bitcoin — announced it will launch a United States-based subsidiary.

In a May 1 X post, Metaplanet announced that the firm is launching a wholly owned subsidiary in Florida. Furthermore, the new subsidiary is expected to raise up to $250 million of capital to fuel its Bitcoin (BTC) accumulation strategy and tap US institutional investors.

In a separate announcement, Metaplanet cites Miami as the city that will host the new subsidiary’s headquarters. The firm points to Florida as a particularly favorable environment:

“Florida, a rapidly emerging hub for Bitcoin focused companies and financial innovation, recognized for its business-friendly policies and rising status as a global center of capital and technology.”

The company explained that it decided to go to Florida due to its pro-Bitcoin environment, which purportedly led to

Ethena partners with TON to offer USDe to one billion Telegram users

Decentralized stablecoin platform Ethena has partnered with The Open Network (TON) to make its stablecoins available to Telegram’s user base of over one billion people.

The partnership, announced on May 1 at Token2049 in Dubai, will see the deployment of Ethena’s USDe (USDE) and Ethena Staked USDe (sUSDe) natively within the TON blockchain.

The sUSDe variant will be integrated under the name tsUSDe, enabling Telegram users to access US dollar-denominated savings directly within Telegram.

Source: Kirill Malev

The deployment involves two major Ethena integrations, including one in the custodial Wallet in Telegram and the second in the TON Space wallet, a non-custodial wallet integrated in the messenger.

One of Ethena’s “most meaningful launches”

Announcing the news on X, Ethena described its TON integration as “one of Ethena’s most meaningful launches to date.”

“Telegram has truly global distribution across its billion users, with presence in emerging economies

Vitalik Buterin’s vision for Ethereum: Pectra, Glamsterdam and beyond

Why do Ethereum upgrades matter?

Ethereum upgrades are essential to scale, secure and evolve the network without compromising its decentralized foundation.

Ethereum still stands as the heavyweight of smart contract platforms, but staying on top means relentless reinvention. Every upgrade isn’t just a technical tweak; it’s a high-stakes move to crack the toughest problems in crypto: clogged scalability, soaring gas fees, clunky onboarding and the constant creep of centralization.

In a race where rivals are slashing transaction times and polishing user experiences, standing still isn’t an option. To hold its ground at the center of decentralized finance (DeFi), non-fungible tokens (NFTs) and Web3 as a whole, Ethereum must keep sharpening both its execution and consensus engines.

The Ethereum development roadmap — from the upcoming Pectra upgrade to Fusaka and the Glamsterdam Ethereum update — is more than a technical checklist. It’s a balancing act: scaling

Read More at https://cointelegraph.com/explained/vitalik-buterins-vision-for-ethereum-pectra-glamsterdam-and-beyond?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Multi-wallet usage up 16%, but AI may address crypto fragmentation gap

Fragmentation and complicated user experience remain two of the most significant obstacles to cryptocurrency’s mainstream adoption, according to a new industry report. Most users now use at least two wallets to manage their cryptocurrency investments.

The lack of interoperability across blockchains means users need to create multiple wallets to interact with different networks, with users having at least two wallets rising by 16% over the past year.

According to a research report published by onchain user experience platform Reown and crypto intelligence firm Nansen, 62% of crypto users reported using at least two wallets over the past three months, up from 45% in 2024.

More than 18% of respondents said security was their top concern related to wallet use, while 10.6% cited poor user experience as the biggest issue.

Wallet usage over the past 3 months. Source: Nansen, Reown

Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-volatility-563-day-low-hayes-predicts-1-m-btc-2028"

‘Bad breach of ethics’ — Musk echoes crypto execs in backlash against WSJ

Tesla CEO Elon Musk has lashed out at The Wall Street Journal (WSJ), calling the publication’s latest report “an EXTREMELY BAD BREACH OF ETHICS,” after it claimed the Tesla board was actively seeking his replacement as CEO.

The report, published on April 30, alleged that the board had approached recruitment firms due to concerns over Musk’s political activity and split focus across multiple ventures.

Musk took to X to denounce the article, stating that the WSJ deliberately published false information while knowingly excluding an “unequivocal denial” from Tesla’s board.

Tesla board chair Robyn Denholm also issued a strong rebuttal early Thursday morning, posting on Tesla’s official X account that the board had not contacted recruiters.

“This is absolutely false,” she said. “The CEO of Tesla is Elon Musk and the Board is highly confident in his ability to continue executing on the exciting growth