A whale is holding a long position in HYPE with a value of $68 million, enjoying unrealized gains of over $15 million.

May 20 – A commander with Iran’s Revolutionary Guard Corps (IRGC) Navy reported that 26 vessels, including oil tankers, container ships, and other commercial craft, transited the Strait of Hormuz over the past 24 hours under the IRGC Navy’s coordination and security cover. He emphasized that all transit through the Strait of Hormuz requires advance permission and coordination with the IRGC Navy. Per market data from Bitget, WTI and Brent crude oil prices have slipped slightly, currently trading at $104.98 and $104.76 per barrel, respectively. Meanwhile, monitoring from PolyBeats shows that on prediction market Polymarket, the probability of vessels transiting the Strait of Hormuz by the end of this month is just 4%, with that estimate rising to 27% by the end of next month.

On May 20, monitoring from Onchain Lens reveals that a wallet associated with Anchorage withdrew 44,510 HYPE tokens from the Gate exchange, worth approximately $2.16 million. The address has accumulated a total of 2.385 million HYPE tokens over the past month, valued at around $11.9 million—and has staked all of it.

May 20 – JPMorgan Chase filed an amended registration application for its Solana spot ETF today, selecting ticker MSOL for the product. Key details including management fees remain undisclosed as of now.

May 20: The Monetary Authority of Singapore (MAS) announced it has revoked the major payment institution (MPI) license belonging to cryptocurrency payment firm Bsquared Technology. The regulator cited multiple issues for the move: gaps in risk management protocols, flawed conflicts of interest policies, violations of outsourcing agreements, and the submission of false or misleading information to the agency during Bsquared’s license application and on-site inspection processes. Bsquared was granted a digital payment token service license just 16 months ago. The company has now been ordered to provide closure certification from an independent audit firm confirming all customer funds have been fully returned, MAS said. Additionally, the regulator is conducting further reviews of Bsquared’s key management personnel. Notably, Singapore has only approved 37 entities to offer digital payment token services—making this license revocation a relatively rare event in the city-state.

May 20 — Al Jazeera reports a source has confirmed Pakistan’s Interior Minister is currently in Tehran for a new round of talks. The U.S. has ramped up demands concerning Iran’s nuclear program and the security of the Strait of Hormuz, making clear it will not soften its stance on these two core issues. Washington has shown only limited flexibility on easing sanctions, while Iran remains unconvinced by U.S. assurances to prevent a resurgence of conflict. Separately, per monitoring from PolyBeats, the prediction market platform Polymarket puts the probability of a permanent peace agreement between the U.S. and Iran at 11% by May 31 and 33% by June 30.

On May 20th, Catena Labs—an AI financial infrastructure company founded by Sean Neville, a co-founder of Circle—announced it has closed a $30 million Series A funding round. The round was led by Acrew Capital and a16z crypto, with participation from Breyer Capital, General Catalyst, and QED. Catena Labs develops tools designed to enable AI agents to conduct financial transactions securely. To gain regulatory approval to process payments and custody customer funds, the company has applied for a national trust bank charter with the Office of the Comptroller of the Currency (OCC) in New York. Previously, the firm secured $18 million in initial funding in 2025, which was led by a16z crypto.