Dubai is rapidly emerging as a global web3 powerhouse with its future-proof regulations and innovation-friendly governance structure.

Dubai is building the blueprint for web3-driven finance | Opinion

Bitcoin is trading above $95,000, moving closer to the psychologically 
significant $100,000 price level. This recovery follows several weeks of 
steady gains, although the asset remains approximately 12.6% below its all- 
time high recorded in January. Some analysts are now focusing on underlying 
trends across both spot and derivatives platforms to evaluate the 
sustainability of the current momentum. Recent data highlights notable 
movements of Bitcoin away from exchanges, particularly from Coinbase, a trend 
that typically signals a reduced available supply and potentially reduced 
selling pressure. In parallel, derivatives market activity has also picked up, 
suggesting an increase in leveraged positioning that could support ongoing 
upward momentum. The convergence of both accumulation signals and growing open 
interest has analysts watching closely for a continuation of the rally or a 
breakout attempt beyond recent highs. Related Reading: Is Bitcoin Demand 
Returning? Active Address Trend May Suggest So 8,000 Bitcoin Pulled From 
Coinbase Signals What? Amr Taha, a contributor on CryptoQuant’s QuickTake 
platform, recently observed that over 8,000 BTC—worth approximately $763 
million—was withdrawn from Coinbase on two separate occasions within five 
days. This activity, visible on exchange netflow data, represents one of the 
largest Bitcoin outflow events recorded in recent weeks. Taha pointed out that 
the withdrawals occurred on April 24 and again on April 29, suggesting 
deliberate actions rather than random user activity. According to the 
analysis, large outflows from exchanges typically indicate that holders are 
transferring assets into cold wallets for long-term storage. This behavior 
often aligns with accumulation phases, as investors seek to remove their 
assets from trading platforms, thereby reducing immediate sell-side liquidity. 
Taha concluded, noting: Historically, significant Bitcoin outflows from 
exchanges — especially from major platforms like Coinbase — have often 
preceded strong bullish price movements. These outflows signal reduced 
immediate sell pressure and a tightening of available supply. Such dynamics 
have repeatedly aligned with periods of increased hedge fund activity, as 
institutional players reposition in anticipation of upside momentum. Binance 
Open Interest Climbs $2.2 Billion as Futures Activity Rebounds In a separate 
analysis, another CryptoQuant analyst, Burak Kesmeci, reported a surge in 
Binance’s Bitcoin Open Interest (OI) over the last 20 days. After declining 
from $11.9 billion in January to $7.5 billion in early April, a drop of nearly 
37%, OI has since rebounded by 29.3%, reaching $9.7 billion. This increase in 
open interest corresponds with Bitcoin’s 23.7% price rise from $76,000 to over 
$94,000 during the same period. Rising open interest in derivatives markets 
typically indicates growing participation by leveraged traders and is often 
interpreted as a sign of increasing confidence or speculation. Related 
Reading: Bitcoin Supply in Profit Rises Above 85%— Is Euphoria Setting In? 
Kesmeci’s analysis suggests that the uptick in OI, when viewed alongside 
declining exchange reserves, may reinforce a bullish structure in the current 
market cycle. If momentum continues and funding conditions remain favorable, 
Bitcoin could push closer toward the $100K threshold in the short term. 
Featured image created with DALL-E, Chart from TradingView

Coinbase Sees Major Bitcoin Withdrawals as Binance Derivatives Activity Rebounds

Project Open was presented to the SEC as a pilot program to test the issuance 
of equity securities on public blockchains. By leveraging the zero settlement 
times and transparency of these blockchains, Project Open aims to lower the 
costs of issuance and trading simultaneously. Project Open Presented by Solana 
Policy Institute, Superstate, and Orca The […]

Solana Policy Institute, Superstate, and Orca Unveil Project Open: A Proposal to Move Equity Trading Onchain

Banking giant Morgan Stanley reportedly plans to list cryptocurrencies on its 
E*Trade investment brokerage and trading platform.
According to a May 1 Bloomberg report, the firm intends to list crypto assets 
on E*Trade in 2026. The plan is still in early development, and the bank is 
said to be exploring partnerships with established crypto firms to power the 
service. Internal discussions about cryptocurrency support reportedly began in 
late 2024.
_E*Trade homepage. Source:__E*Trade_
This would not be Morgan Stanley&#8217;s first exposure to digital assets. The 
bank&#8217;s wealthiest clients have had access to crypto exchange-traded funds 
(ETFs) and futures for some time, with the firm&#8217;s advisers allowed to pitch 
Bitcoin ETFs since August 2024.
_**Related:**__**Morgan Stanley to explore crypto offerings for clients &#8212; 
CEO**_
## Regulatory tailwinds push crypto forward
The news follows previous reports that Morgan Stanley was considering adding 
cryptocurrency trading to its E*Trade online brokerage platform in early 
January. The reports at the time cited the expectations of a friendlier crypto 
regulatory environment.
The move comes amid an increasingly favorable regulatory environment in the 
United States following the election of President Donald Trump, who campaigned 
on a pro-crypto platform and is personally involved in several blockchain 
ventures.
_**Related:**__**Morgan Stanley discloses $188M in BlackRock Bitcoin ETF 
holdings**_
The first 30 days of the Trump administration brought significant changes to 
the local crypto industry. More recently, US crypto proponents have shown 
optimism following the swearing-in of pro-crypto Securities and Exchange 
Commission Chair Paul Atkins.
The SEC had significantly changed its stance even before Atkins took office. 
In late February, the agency had already paused multiple cryptocurrency 
enforcement cases with imminent deadlines.
_**Magazine:**__**ZK-proofs are bringing smart contracts to Bitcoin &#8212; 
BitcoinOS and Starknet**_

Morgan Stanley eyes crypto rollout for E*Trade platform: Bloomberg

World Liberty Financial&#8217;s official stablecoin, USD1, will be integrated into 
the Tron network as it prepares to mint millions of dollars worth of tokens at 
the start of the partnership. On the Token2049 stage on May 1, Tron (TRX) 
founder…

World Liberty Financial’s USD1 to integrate with Tron network

Bitcoin has reclaimed $96,000, a level not seen since late November 2024, 
driven by robust institutional demand and easing macroeconomic fears. Bitcoin 
(BTC) rallied nearly 20% from its April low of $79,000, fueled by $381 million 
in ETF inflows and…