Iran Proposes Opening Hormuz in Exchange for U.S. Compensation, and Calls for Discussions on Sanctions and Frozen Assets

On May 23, The Wall Street Journal (WSJ) reported that cryptocurrency exchange Binance processed roughly $850 million in transactions linked to an Iranian sanctions evasion ring over two years, with the funds ultimately flowing to Iran’s Islamic Revolutionary Guard Corps (IRGC). In response, Binance CEO Richard Teng took to X to push back on the report, calling it “fundamentally inaccurate.” Teng emphasized Binance’s policy barring sanctioned entities from transacting on its platform, and noted that the suspicious activity in question occurred before the relevant parties were sanctioned by the U.S. government. The WSJ’s piece identified Iranian businessman Babak Zanjani as the central figure in the alleged network, claiming Zanjani’s companies and associated accounts operated through a single device to build a covert payment system on Binance. The outlet also stated Binance’s internal compliance systems flagged unusual access from Tehran by the end of 2024, triggering multiple risk a

Crypto firms, industry groups, and lobbying organizations across the U.S. crypto sector are accelerating their push to formalize the industry’s integration into mainstream U.S. finance in Washington—per a May 23 report from The Information. Major players including Coinbase and a16z crypto have joined forces with other crypto companies, trade associations, and advocacy groups to build a tighter coordination network focused on advancing key legislative priorities: stablecoin regulation, a crypto market structure bill, and cryptocurrency ETF approval. This push is fueled by the Trump administration’s growing crypto-friendly stance and rising bipartisan support in Congress, which insiders frame as a "make-or-break moment" for the sector to solidify its place at the core of America’s financial system. Top firms are ramping up their policy influence in D.C. via political donations, expanded lobbying teams, and cross-industry alliances, aiming to shift U.S. crypto regulation from a "suppres

May 23, Iranian Foreign Ministry spokesperson Baghaei stated that after weeks of talks, "the views of both Iran and the U.S. are moving toward greater alignment," and the two sides are currently in the final stages of drafting a memorandum of understanding. Separately, U.S. Secretary of State Pompeo confirmed that Iran negotiations have made some progress, adding that the U.S. could release announcements regarding Iran in the coming days. Per monitoring by PolyBeats, the probability of "the U.S. and Iran reaching a permanent peace deal" by May 31 has climbed to 20% on prediction market Polymarket, while the figure rose to 53% for an agreement by June 30.

On May 23, an Iranian Foreign Ministry spokesperson said ongoing mediation talks with the U.S. are "time-consuming and grueling," noting that U.S. hostility dates back several decades. "We’ve discussed key issues and still-contentious wording, put forward proposals, and some remain under review as all parties weigh in with their views."

May 23. SpaceX recently filed for an initial public offering (IPO), with its mission statement reading: "To develop the systems and technologies needed for life to become a multiplanetary species, unlock the universe’s true nature, and spread consciousness’s light across the stars." Beyond this grand, ambitious narrative, at the end of the day, business boils down to valuing a company in concrete financial terms. After an IPO, retail investors are often the first group targeted for share sales—looking to lock in shares at a fixed price. Insiders, meanwhile, aim to hype up the post-IPO stock price through market buzz, then offload some of their holdings for a profit. Per Nasdaq disclosure data, the share of unprofitable companies going public has jumped from 20% of all annual IPOs in the 1980s to 80% today. Nearly two-thirds of firms underperform the broader market in the three years following their IPO, with most (64%) lagging by more than 10%. While some companies deliver strong long

May 23: Per a report from The Wall Street Journal, U.S. President Donald Trump convened a National Security Council meeting that day. He has not formally decided whether to launch a new military strike against Iran, but signaled he is willing to give diplomatic negotiations "more time." Multiple U.S. officials stated that after hearing a briefing on Iran-related discussions, Trump expressed his desire to extend diplomatic talks, while noting the military strike option would remain available if those negotiations fail. Per monitoring by PolyBeats, prediction market Polymarket puts the probability that the next U.S.-Iran diplomatic meeting will take place by the end of May at 16%. That figure rises to 59% for meetings held by the end of June.