Tom Lee: Iran Attack News Only Temporary Market Pressure

On May 5, Fox News reported that U.S. President Donald Trump said if Iran attacks U.S. ships, Iran will be "wiped off the face of the Earth."

On May 5, data from GMGN shows the on-chain meme coin ASTEROID has surged nearly 43% in the past 24 hours, with a market cap hitting $180 million and 24-hour trading volume reaching $23.4 million. Per reports, the meme coin ASTEROID’s origin story traces back to 15-year-old Liv Perrotto. Before her passing, her greatest wish was to meet Elon Musk, and she helped design a Shiba Inu-shaped plush toy named “Asteroid.” Following her death, her mother publicly reached out to Musk, and the story gained traction on Glenn Beck’s show (hosted by the renowned media personality). On April 19, Musk greenlit “Asteroid” as SpaceX’s official mascot. BlockBeats cautions users: Meme coin trading is extremely volatile, largely driven by market sentiment and speculative hype, with no underlying value or practical use cases. Investors should exercise extreme caution regarding associated risks.

On May 5th, Bitget data shows GameStop (GME.N) shares tumbled sharply, with intraday losses widening to 10%—the stock was last trading at $23.9. Market watchers are widely concerned that GameStop, the $12 billion market-cap video game retailer, is seeking to acquire e-commerce giant eBay (valued at nearly $46 billion) for roughly $56 billion. The deal faces significant funding and integration risks in execution. While GameStop has lined up about $20 billion in debt financing commitments, analysts remain skeptical of the financing plan and the transaction’s outlook, noting the company’s current share price may be overvalued.

May 5th — Iranian state media quoted a senior Iranian military official as stating Iran has no plans to target the United Arab Emirates (UAE). (Golden Finance)

On May 5th, U.S. Central Command (CENTCOM) Commander General Frank McKenzie stated that Iran attempted to attack a commercial vessel but failed. The U.S. military destroyed six Iranian small boats that were trying to disrupt commercial vessel navigation. McKenzie strongly advised Iranian forces to maintain a safe distance from U.S. military assets, adding that the U.S. military’s blockade of Iran has proven more effective than expected.

On May 5th, the Depository Trust & Clearing Corporation (DTCC)—the U.S. market’s core custody and settlement infrastructure organization—announced it will launch early-stage, limited live asset tokenization transactions in July 2026, with full rollout of its tokenization service scheduled for October. The service received approval via a No-Action Letter from the U.S. Securities and Exchange Commission (SEC) late last year, allowing DTCC to tokenize specific highly liquid assets on a pre-approved blockchain for participants during a three-year authorization period. These assets include Russell 1000 index components, ETFs tracking major U.S. indices, and U.S. Treasuries, bills, and bonds. DTCC President and CEO Frank La Salla noted: “We believe tokenization will significantly transform market operations, delivering new levels of liquidity, transparency, and efficiency for investors.” To date, over 50 firms have joined DTCC’s industry working group, including Morgan Stanley, Nasd