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Entertainment public chain project T-Rex completes $17 million Pre-seed round of financing, led by Portal Ventures and others Web3 entertainment public chain project T-Rex announced the completion of a $17 million Pre-seed round of financing, with participating institutions including Portal Ventures, North Island Ventures (NIV), Framework Ventures, Arbitrum Gaming Ventures, ArkStream Capital, Mindfulness Capital, Hypersphere, SNZ Holding and Arche Fund (Coin98 Ventures). The project is positioned as a layer-one blockchain dedicated to the entertainment industry, and the funds will be used for underlying technology development and ecosystem construction.

Web3 consumer rewards platform T-Rex completes $17 million in funding Web3 consumer entertainment protocol T-Rex has completed a $17 million Pre-Seed round of financing, with investors including Portal Ventures, North Island Ventures, Framework Ventures, Arbitrum Gaming Ventures, ArkStream Capital, Mindful Venture Capital, Hypersphere, SNZ and Arche Fund. T-Rex is committed to incentivizing online content consumers through cryptocurrency rewards. The platform plans to launch a browser plug-in this summer, using zero-knowledge transport layer security technology (zkTLS) to achieve privacy data verification between Web2 and Web3 platforms. After the user installs the plug-in, when watching content such as X, TikTok or YouTube, click the "popcorn" icon that appears in the corner of the screen to accumulate points and redeem encrypted rewards. The system will intelligently recommend decentralized applications based on user preferences. (The Block)

The archipelago nation of the Maldives has signed a multi-billion-dollar deal with Dubai’s MBS Global to build a blockchain and digital assets hub. On May 4, the Maldivian government and MBS Global Investments inked a joint venture agreement to develop a $8.8 billion crypto-focused financial centre in the capital city of Malé, according to a Financial Times report . The project, titled the Maldives International Financial Centre, will span 830,000 square meters, and initial estimates suggest it could eventually employ up to 16,000 people and host over 6,000 residents. Development would be rolled out in phases over the next five years and is expected to generate more than $1 billion in revenue annually by year five. According to officials, the financial center would aim to triple the country’s GDP. MBS Global, headed by Qatari royal Sheikh Nayef bin Eid Al Thani, plans to finance the development through a mix of equity and debt. According to the firm, it has already secured firm commitments “north of” $4–$5 billion, raised through its network of family offices and high-net-worth individuals. For the Maldives, the deal comes at a critical time. The country is under financial pressure, with over $1.6 billion in external debt repayments due by 2026. Just a few months ago, India stepped in with a $760 million bailout to help the island nation avoid default. Finance Minister Moosa Zameer believes the financial center could be a possible way out of its current fiscal crunch. Still, turning Malé into a global fintech hub won’t be easy. One senior Indian businessperson told the Financial Times that the Maldives is likely to face stiff competition from well-established heavyweights such as Dubai, Hong Kong, and Singapore. As previously reported by crypto.news, Dubai has already made major strides in establishing itself as a crypto-friendly destination, with supportive regulations and government-backed blockchain initiatives . Similarly, Singapore has continued to draw global investment with its open approach to digital assets and a thriving tech ecosystem . Meanwhile, Hong Kong, too, has attracted hundreds of Web3 and fintech firms by positioning itself as a gateway between China and the West. Hong Kong, Dubai, and Singapore all ranked among the top five in Multipolitan’s 2025 Crypto Cities Index , which evaluated global hubs based on adoption, regulation, and infrastructure.

Mentioning "annexing Greenland" again, Trump vows not to rule out "taking the island by force" On May 4, local time, in a program broadcast by NBC, US President Trump once again explained his proposal to "seize Greenland". Regarding the statement of "using military force to annex Greenland", Trump said that he "does not rule out" this possibility. He said in the interview that he still has "skepticism" about the armed seizure of Greenland, but he said that this possibility "definitely" exists. (Jin Shi)

A Dubai-based investment firm just dumped $8.8 billion into the Maldives to build a massive crypto-focused financial hub, more money than the entire country’s GDP. The deal, announced this week, comes from MBS Global Investments, a family office that says it manages around $14 billion in assets. The five-year project will be built in the capital, Malé, and aims to pull the island nation out of a growing debt crisis. The Maldives finance minister Moosa Zameer reportedly told the Financial Times that the country needs to “take the leap” and move away from its dependence on tourism and fisheries. He said the country’s biggest problem is debt payments due within the next two years. “It’s something we see as a potential contributor to bring us out of certain difficulties that we are in,” Zameer said about the crypto investment. MBS Global Investments officially signed a joint venture agreement with the Maldives government on Sunday. The plan is to build the Maldives International Financial Centre, which will cover 830,000 square meters, house 6,500 residents, and create 16,000 jobs. It will serve as a crypto financial zone aiming to triple the Maldives’ GDP within four years, and generate over $1 billion in revenue by the fifth year, according to the masterplan. MBS chief executive Nadeem Hussain confirmed that commitments worth between $4 billion and $5 billion have already been secured. “We appreciated right from the offset what was involved in terms of funding and we’ve made the necessary alliances and brought in the necessary partners to ensure we have that,” Hussain said. “It is a large sum of money.” The office is backed by Sheikh Nayef bin Eid Al Thani, a Qatari national, who will tap into a network of family offices and wealthy individuals to raise the rest of the funds. Hussain said the firm plans to use a mix of equity and debt to finance the buildout of the crypto hub. This announcement comes just months after India gave the Maldives a $760 million bailout to help prevent a default. But the numbers are still ugly. Moody’s Ratings flagged major liquidity problems in December, pointing to external debt payments of around $600 million to $700 million due this year, and another $1 billion in 2026, including a $500 million sukuk, a debt instrument compliant with Islamic finance. Zameer said that both India and China have been important “development partners,” but this new deal with MBS is different. “With MBS we are getting into business, it’s going to be a business which is totally different from the traditional models of borrowings that we do,” he said. The country is now banking on its political stability, location, and access to major markets like India and the Gulf as advantages. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More