The cryptocurrency market continues to evolve rapidly, with significant developments driving innovation, adoption, and market dynamics. From institutional investments to regulatory shifts and technological upgrades, here’s a roundup of the latest crypto news Binance Square users need to know.
Abu Dhabi’s $2 Billion Investment in Binance via Trump-Linked Stablecoin
A state-backed investment firm in Abu Dhabi, MGX, is set to invest $2 billion in Binance, the world’s largest cryptocurrency exchange, using USD1, a stablecoin developed by World Liberty Financial, a venture tied to the Trump family. Announced by Zach Witkoff, co-founder of World Liberty Financial, at a Dubai crypto conference, this deal marks a significant milestone for Binance and the stablecoin market. USD1, pegged to the U.S. dollar and issued on Binance’s blockchain, has already reached a circulation of $2.1 billion. This move highlights growing institutional interest in crypto and raises questions about the intersection of politics and digital assets.
Ethereum’s Pectra Upgrade Prompts Temporary Pause
Binance and Coinbase have announced a temporary suspension of Ethereum ($ETH ) deposits and withdrawals to prepare for the Ethereum network’s PoS upgrade. This upgrade aims to enhance Ethereum’s functionality but has faced challenges due to recent testnet issues. The pause also affects Layer 2 networks like Arbitrum, Optimism, and zkSync tokens. Binance has assured users that trading will remain unaffected, with services resuming once the network stabilizes. This development underscores the ongoing efforts to scale Ethereum and improve its infrastructure.
Bhutan Pioneers National Crypto Tourism Payments
Bhutan has launched the world’s first national-level crypto payment system for tourism, in partnership with Binance Pay and DK Bank. Travelers with Binance accounts can now use over 100 cryptocurrencies, including Bitcoin ($BTC ), $USDC and BNB, to pay for services like flights, hotels, and tours. This initiative, announced on May 7, 2025, allows businesses in Bhutan to accept crypto payments via QR codes, promoting financial inclusion and digital innovation. Bhutan’s move sets a precedent for crypto adoption in emerging markets.
Binance Founder CZ’s Bullish Bitcoin Prediction
Changpeng Zhao (CZ), co-founder of Binance, has forecasted that Bitcoin could reach $500,000 to $1 million in the current market cycle. Speaking at a recent event, CZ attributed this optimism to institutional adoption, government accumulation, and pro-crypto U.S. policies under President Donald Trump. He highlighted the role of Bitcoin ETFs in driving institutional capital into crypto, signaling a maturing market. CZ also advised Kyrgyzstan to include Bitcoin and BNB in its national crypto reserve, reflecting his influence in shaping global crypto strategies.
