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Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

Billionaire entrepreneur and one-time crypto advocate Mark Cuban has sold most of his Bitcoin. Speaking on a recent podcast, Cuban said he concluded that cryptocurrency has failed to serve as an effective hedge against fiat currency devaluation and geopolitical instability, leading him to lose faith and reduce his holdings, CoinDesk reported. Cuban noted that during the turmoil of the Iran war, he had viewed Bitcoin as the best alternative to gold for hedging. However, he observed that when gold prices rose, Bitcoin fell, and it also dropped when the U.S. dollar weakened. The expected hedging effect never materialized, a point he found disappointing. He added that he was more disappointed in Bitcoin than in other cryptocurrencies like Ethereum (ETH), which he dismissed as "the rest of the junk."

Coinbase announced via its official X account that it will halt trading support for TRIA, NEO, and IMX perpetual futures starting from 1:00 p.m. UTC on June 4. At the time of the suspension, any open positions held by users will be automatically settled.

According to CoinNess market monitoring, BTC has risen above $78,000. BTC is trading at $78,000 on the Binance USDT market.

The final draft of an agreement between the U.S. and Iran, mediated by Pakistan, has been reached and is expected to be announced within hours, Iran's ILNA news agency reported, citing Al Arabiya TV. The draft includes the following provisions: - An immediate and comprehensive ceasefire on all fronts. - A mutual commitment not to target infrastructure. - Guaranteed freedom of navigation in the Persian Gulf and the Strait of Hormuz under a joint monitoring system. - A phased lifting of sanctions against Iran, conditional on its implementation of the agreement's provisions. - The commencement of negotiations on unresolved issues within a maximum of seven days.

Although Ethereum (ETH) has dropped 55% from its peak, the buying pressure needed to absorb the sell-off has vanished, according to an analysis by on-chain firm EasyOnChain cited by CryptoPotato. The firm expressed particular concern not just about the price decline itself, but about the widening gap between the derivatives market and spot demand. EasyOnChain suggested that ETH appears to have already entered a mid-to-long-term bear market, adding that reduced institutional participation, as seen in ETF flows, is a clear warning sign. The analysis also highlighted that the Coinbase Premium has been negative throughout May, which suggests that U.S. institutional investors are leaving the market.

Everclear (CLEAR), formerly known as Connext, announced via its official X account that it has decided to phase out the Everclear Foundation, its development company, and its products. The team explained that while developing a solver-based model for rebalancing cross-chain funds, it struggled with profitability despite once reaching a monthly trading volume of $500 million. A focus on B2B partnerships over the past six months failed to secure revenue in time, as the project's funds were depleted before partners could begin operations. The protocol has since been terminated, with all remaining deposits withdrawn by users and partners, and the Everclear UI and chain are no longer operational. The announcement added that if any funds remain after settling debts, the team is considering a token buyback of between $50,000 and $200,000, although nothing has been confirmed.

U.S. President Donald Trump said it is highly likely that the $149 billion collected from tariffs will have to be refunded. He added that he expects the Supreme Court to rule against him, saying they have a tendency to do so.

U.S. President Donald Trump said the conflict with Iran will end soon.

U.S. President Donald Trump stated that he will not allow Iran to possess enriched uranium. He warned that the U.S. could destroy any such material if Iran acquires it, adding that his administration does not want that to happen.

U.S. President Donald Trump said on May 21 that he would not allow Iran to possess nuclear weapons.

U.S. President Donald Trump said he does not want to impose tolls on passage through the Strait of Hormuz.

U.S. President Donald Trump said very powerful action may be needed against Iran.

U.S. President Donald Trump stated that negotiations with Iran are in progress, adding that an agreement would ultimately be reached.

The true power of tokenization lies in its ability to provide a free market for credit formation and yield generation for asset owners, said MicroStrategy (MSTR) founder Michael Saylor. Appearing on CNBC, he explained that if various securities could be tokenized, investors would naturally seek out the best credit conditions and the highest yields. Saylor argued this would change how credit and yields are priced across the entire asset market, potentially posing a threat to traditional banks and securities brokers.

Garrett Jin, founder of the crypto exchange BitForex, has deposited 30 million USDC into Hyperliquid (HYPE), Lookonchain reported. The address currently holds a 5x leveraged long position on Bitcoin valued at approximately $39 million, with an unrealized loss of around $82,000. Jin, a prominent Bitcoin OG, founded BitForex, an exchange accused of fraud by Hong Kong authorities. He previously faced insider trading allegations in October of last year after entering a large short position just before a significant Bitcoin price drop.

Pro-crypto U.S. Representative Nick Begich announced yesterday on X that he has introduced the American Reserve Modernization Act (ARMA), a bill that proposes stockpiling Bitcoin as a government reserve asset. Begich stated that while the U.S. reserve asset balance sheet is a core component of the nation's insurance policy, backing the dollar and ensuring stability, market perceptions of what constitutes a sustainable store of value can evolve. He argued that the U.S. must acknowledge these shifts and have the flexibility to expand its reserve portfolio. The ARMA bill would also centrally manage digital assets held by the federal government and protect them as reserve assets for future generations, he added.

Amid a continued rally that saw Hyperliquid (HYPE) hit a new all-time high yesterday, the crypto community is taking note of the token's market capitalization. Crypto influencer Ansem, who has 869,000 followers on X, highlighted that HYPE's current circulating market cap is comparable to that of Solana (SOL) in October 2023, when SOL was trading at around $20. Ansem noted that Solana subsequently surged to $200 in less than six months. According to CoinMarketCap, HYPE is currently trading at $61.47, up 19.59%.

TownSquare, a DeFi money market project based on Monad (MON), announced via its official X account that it has raised $16.25 million in a pre-Series A funding round. Participants in the round included World Liberty Financial, Ouroscapital, Arcane, OKX Ventures, Animoca Brands, Amber Group, and Aptos. The funds are expected to be used to strengthen its revenue generation structure through USD1 and real-world asset (RWA) tokenization.

U.S. Secretary of State Marco Rubio said that while an agreement with Iran is the preferred outcome, the president has other options if a deal cannot be reached. He also noted that any tolls in the Strait of Hormuz would make a diplomatic agreement impossible. Despite this, Rubio added that there have been positive signs in end-of-war negotiations with Iran, but he cautioned against being overly optimistic and said he would monitor developments over the next few days.

The U.S. government is strengthening its efforts to crack down on Iran's use of cryptocurrency, Fox Business reported. The move is intended to block alternative financial channels that Iran uses to evade sanctions. U.S. Treasury Secretary Scott Bessent announced that authorities have frozen approximately $500 million in crypto linked to the Iranian regime. Meanwhile, Iran is estimated to hold around $7.7 billion in digital assets.

Pro-crypto U.S. Senator Cynthia Lummis urged the passage of the CLARITY Act on X, stating that a lack of regulation does not mean a lack of harm, but rather a lack of remedy when problems occur. She added that she has worked for years to enact the CLARITY Act to allow the digital asset industry to grow within the U.S. under clear guidelines.

Nasdaq-listed Solmate (SLMT), a company strategically holding Solana (SOL), announced a plan on May 21 to raise $11.4 million. The capital will be raised through a direct investment from the company's CEO and board members. The transaction is expected to be finalized around May 27.

Cryptocurrency payments firm MoonPay has acquired cross-chain routing startup Descent.xyz, CoinDesk reported. Following the acquisition, MoonPay has launched MoonPay Trade, a single platform that allows banks and fintech companies to access tokenized assets, decentralized finance (DeFi), and stablecoin liquidity across more than 200 blockchains.

Seturion, a European payment platform under Germany's second-largest stock exchange operator Boerse Stuttgart Group, has announced the addition of Societe Generale, SG Forge, and flatexDEGIRO as participants in its security token settlement infrastructure. According to The Block, Seturion connects banks, brokers, and exchanges into a single digital securities settlement layer. The platform plans to expand its pan-European tokenized securities trading and settlement network through these new collaborations.