World is launching its human verification crypto project in the U.S.

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

Happy Thursday! Crypto is trading hotter than the desert heat of Dubai at TOKEN2049, with bitcoin back above $97,000 and green candles lighting up almost across the board. The question is: are we so back, or is it time to sell in May and walk away?

In today's newsletter, Sam Altman's human verification crypto project World is launching in the U.S., Ethena brings its synthetic stablecoins to TON, Metaplanet plans to establish a U.S. subsidiary and more.

Coinbase will also be suspending trading of Movement's token on May 15, as part of a recent adjustment to its trading pairs offering. This comes amid the recent controversy surrounding "market maker abnormalities" — seeing MOVE plunge to a new all-time low.

Let's get started.

Sam Altman's World eyes US rollout

World, previously known as Worldcoin, is launching in the United States.

The project, founded by OpenAI CEO Sam Altman, is launching its human-verifiable crypto project in the U.S. as part of the project's international expansion plans.

World's Orbs will be used to scan the irises of people in the U.S., who will then be able to claim a World ID and earn WLD tokens for registering on the blockchain.

Ethena brings its synthetic stablecoins to TON

Ethena Labs and the Ethena Foundation have partnered with the TON Foundation to introduce synthetic stablecoins USDe and sUSDe into TON's blockchain ecosystem.

The partnership will see the two organisations cooperate on integrating Ethena's stablecoins into TON over the coming months.

Metaplanet plans US subsidiary, $250 million raise to accelerate bitcoin treasury strategy

Japanese investment firm Metaplanet plans to establish a wholly-owned U.S. subsidiary in Miami, Florida, this month.

The firm is also planning to raise $250 million in capital through a Series A funding round to further accelerate its bitcoin treasury strategy.

JPMorgan's blockchain unit expands into MENA with 8 major bank deals

JPMorgan's Kinexys blockchain platform has expanded its footprint in the Middle East and North Africa, securing partnerships with eight of the region's leading banks.

The bank is now working with institutions across the world to integrate its blockchain technology, which powers cross-border payments, treasury functions and transaction efficiency.

Eric Trump says crypto will leave big banks ‘in the dust’

World Liberty Financial Web3 Ambassador Eric Trump said crypto will leave big banks "in the dust."

Speaking at TOKEN2049 in Dubai on Wednesday, Trump said that banks are "going to be left behind" as institutions and members of the public increasingly turn to digital assets.