Eric Trump Confirms USD1 Stablecoin Chosen for MGX’s $2B Binance Investment
At Token2049 in Dubai, Eric Trump revealed that the Trump family’s stablecoin, World Liberty Financial USD (USD1), has been selected as the official stablecoin for MGX’s $2 billion investment in Binance. The announcement follows MGX’s earlier disclosure of plans to acquire a significant stake in the crypto exchange.
Nasdaq has submitted Form 19b-4 to the US Securities and Exchange Commission, in which it aims at listing 21Shares’ spot Polkadot ETF. This would enable investors to invest in Polkadot by getting direct exposure to the tokens without having to directly deal with the asset directly.
Nasdaq Files 19b-4 For 21Shares Polkadot ETF
According to a recent filing, Nasdaq has submitted Form 19b-4 for a spot Polkadot ETF on behalf of 21Shares. The new ETF is to represent the Polkadot’s digital coin, the token that is the 27th in terms of its market capitalization.
This comes after 21Shares submitted an S-1 amendment discussing the firm’s intentions on offering access to a regulated fund that invests in digital asset securities.
As the sponsor of the fund, 21Shares will seek to offer a safe investment opportunity that will help the investors to benefit from the growth of Polkadot without needed to own the DOT token. Besides the Polkadot ETF, it is also working on other ETFs associated with digital assets such as solana and XRP.
Effort to Launch a Spot Polkadot ETF
Grayscale Investments, another major player in the cryptocurrency ETF space, has also filed for approval to launch its own spot Polkadot ETF. This suggests that there is high interest in Polkadot and several firms are vying to provide exposure to this asset class.
At the same time, 21Shares is considering a staking option for its Core Ethereum ETF, which would allow investors to earn extra income by staking.
However despite the filings, the US Securities and Exchange Commission (SEC) has postponed its ruling on several exchange-traded funds (ETFs) in connection with XRP, Solana, Litecoin, and Dogecoin.
Market Response to the Polkadot ETF Filing
Following the Nasdaq filing, Polkadot’s native token, DOT, saw a slight price increase. As of now, DOT’s market capitalization stands at approximately $6.7 billion.
However, despite the positive news surrounding the ETF proposal, DOT price has experienced a modest downturn, with the price showing a slight decrease of 1.12% recently. This fluctuation highlights the volatility that still characterizes the cryptocurrency market.
Several support levels for DOT’s price are at $4.322, $4.129, and $3.826 which may act as potential rebound points if the price continues to test the lower ranges. Meanwhile, Polkadot price resistance levels at $4.599 and $4.898 represent obstacles to any short-term bullish movements.
KULR Tech Group is making significant strides in the web3 space. On May 1, it was included in the newly-launched Grayscale Bitcoin Adopters ETF. The new ETF offers investors direct exposure to companies adopting Bitcoin as a treasury company.
Last year on December 4, 2024, the space, aerospace, and defense focused company commited up to 90% of its surplus cash reserves to be held in bitcoin. To date, KULR has acquired 668 BTC.
This decision marked a significant shift in KULR’s financial strategy – positioning Bitcoin as a primary asset in its treasury program.
Now, in its another significant move in web3, it has announced a new blockchain-based supply chain initiative.
KULR Inclusion in GrayScale Bitcoin Adopters ETF
KULR Launches Own Blockchain
In an official press release and company tweet, KULR revealed that it will move product tracking and custody verification from centralized software to a distributed ledger. This will help the company in recording each inventory item as a tamper-proof, timestamped entry on a private blockchain.
The company notes that “decentralizing the inventory tracking system on a blockchain offers enhanced transparency, security, and real-time visibility across the entire supply chain”.
The US-listed company has also revealed that one of the first product lines to be logged will be KULR’s NASA WI-37A–certified lithium-ion batteries.
Now, these batteries with space and aerospace applications will be permanently stored on-chain so that future users can verify performance and compliance.
Today, we are announcing the launch of a blockchain-secured supply chain initiative to safeguard our product-related data.
Decentralizing our inventory tracking system on blockchain offers enhanced transparency, security, and real-time visibility across the entire supply chain.… pic.twitter.com/HkhnCoqmhX
KULR has built its own private rollup on Coinbase’s Base Layer-2 (L2) blockchain – an Ethereum-powered network – to host this supply chain ledger.
This choice leverages a public blockchain infrastructure (Coinbase Base) for security and scalability. It will still keep the network permissioned under KULR’s control.
Under the new system, the company will represent each battery or part as a non-fungible token (NFT) on the blockchain.
Each token’s metadata – including test results, manufacturing details and certification data – will be recorded immutably.
When a customer purchases a battery, its NFT can be transferred to the buyer’s on-chain wallet or sent to a company “burn” wallet to signal the transfer of ownership.
For bulk orders, KULR will set up dedicated customer wallets to batch-transfer many NFTs at once.
Internally, the company has built a custom user interface linked to encrypted KULR-owned wallets. This dashboard would let staff monitor inventory and token transfers in real time.
Market and Investor Impact
The market reaction to the company’s blockchain announcement has been cautiously positive.
On Friday, one day after the blockchain and Grayscale ETF inclusion, KULR closed at $1.33 USD on May 2. This marks a 4.72% increase from the previous day’s close of $1.27.
KULR Stock on May 2
Company has also hinted at more initiatives towards blockchain and Bitcoin adoption.
On the inclusion in Grayscale Bitcoin Adopters ETF, Kurl CEO has said, “Honored to be included in Grayscale’s Bitcoin Adopters ETF. Appreciate the recognition as we continue building KULR Tech into a category-defining company at the intersection of space, defense, AI, and Bitcoin.”
Thus, with more near-term crypto plans in line, KULR is likely to draw attention from both energy-sector investors and digital-asset enthusiasts.
