Headlines

US Media: How to Compensate Iran Becomes a Key Obstacle in US-Iran Negotiations

According to CNN, a senior U.S. official familiar with the negotiations stated that one of the remaining critical sticking points in U.S.-Iran talks concerns economic compensation, as Trump is eager to achieve a deal perceived as stronger than those under the Obama administration. The official noted that Iran has signaled to mediators that, once a preliminary memorandum of understanding is reached, they expect some form of immediate economic compensation rather than deferring it to a future date. However, officials in the Trump administration worry that unlocking funds at such an early stage could mitigate the economic pressure on Iran—potentially undermining or at least weakening a key leverage point Washington holds over Tehran, which will be crucial for advancing to the second phase of negotiations focused on the specifics of Iran’s nuclear program. Trump has made clear to his team that he wants any agreement to appear significantly tougher than the 2015 deal and avoid any actions that could be interpreted as “handing over large amounts of cash”—a phrase he previously used to criticize Obama’s decision to provide economic compensation to Iran.

HYPE Surpasses SOL After Reaching All-Time High, While SOL Plummets to Lowest Level Since 2023

The HYPE token from Hyperliquid surpassed Solana’s SOL on Wednesday, with SOL dropping to its lowest level since 2023. HYPE hit an all-time high of $75.634 and is currently trading at $75.08, above SOL’s $71.82. Over the past month, HYPE has risen approximately 24%, making it one of the few assets among the top 20 cryptocurrencies to post gains, while Solana declined nearly 14% during the same period. In terms of market capitalization, Solana still leads Hyperliquid by a wide margin, with around $42 billion compared to Hyperliquid’s ~$16 billion. CoinShares released a valuation report Tuesday stating that HYPE is among the rare crypto assets where protocol activity translates almost directly into token demand; under base-case assumptions, the target price for 2031 is approximately $147.

Industry News

Monthly Crypto VC Deal Volume Drops to Five-Year Low, Around 50 Transactions

Monthly crypto venture capital deal volume in May reached approximately 50 transactions—the lowest level since before 2021. Two traditionally most active categories—infrastructure and crypto financial services—are approaching multi-year lows. Investor attention has structurally shifted toward AI, while the crypto sector has failed to generate early-stage opportunities of the scale seen in the 2021 and 2024 cycles.

Despite the slowdown in transaction volume, fundraising totals have not declined proportionally, indicating market consolidation rather than broad contraction. For developers, current competition intensity is far lower than during previous boom periods, meaning projects demonstrating clear utility and growth momentum face less competition than in recent years. Whether deal volume rebounds in the second half will depend on whether new sectors beyond prediction markets and financial infrastructure can reignite investor confidence.

Charles Schwab Launches 7×24 Cryptocurrency Futures Trading Service, Supporting Bitcoin and Other Assets

According to Bitcoin Magazine, Charles Schwab has launched a 7×24 cryptocurrency futures trading service. Currently supported designated crypto futures products include Bitcoin, ETH, Solana, and XRP-related instruments.

Bitmine Plans $300M Raise via Perpetual Preferred Shares with 9.5% Annual Dividend

Bitmine Immersion Technologies announced plans to issue 3 million shares of 9.50% Series A perpetual preferred stock, with a par value of $100 per share, targeting total gross proceeds of $300 million. The preferred shares carry an initial liquidation preference of $100 per share and will accrue dividends at an annual rate of 9.5%, paid weekly in cash. Dividends will continue to accumulate regardless of whether the company declares dividends or lacks distributable funds. Bitmine retains the right to redeem the shares: within 18 months after issuance, redemption at 110% of par value; between 18 months and three years, at 105% of par value; and after three years, at 100% of par value, with additional payment of accumulated unpaid dividends upon redemption.

Project Updates

Strategy Preferred Stock STRC Breaks Below $95, Deviates Over 5% from $100 Target Price

Strategy’s preferred stock STRC has fallen below $95, currently trading at $94.65, down 2.13% over 24 hours, deviating more than 5% from its $100 target price.

According to Artemis data, Polymarket recorded daily crypto trading volume of $176 million, setting a new record high.

Prediction market platform Kalshi announced the official launch of Bitcoin perpetual contracts. This marks the first regulated Bitcoin perpetual contract product approved in the United States. The instrument is a perpetual contract referencing the spot price of Bitcoin and classified as a futures contract. The U.S. Commodity Futures Trading Commission previously confirmed that the BTCPERP contract meets the requirements of the Commodity Exchange Act and related regulations, including core principles applicable to Designated Contract Markets (DCMs).

Funding & Investment

Coinbase Co-Founder’s New Longevity Tech Startup NewLimit Raises $435M in C Round, Valued at $3.1B

NewLimit, a longevity technology startup co-founded by Coinbase co-founder Brian Armstrong, announced closing a $435 million Series C round, valuing the company at $3.1 billion. The round was led by Founders Fund, Peter Thiel’s fund, with continued participation from Abstract Ventures, Kleiner Perkins, NFDG, Eli Lilly Ventures, and Valor Equity Partners, alongside new investors Thrive Capital, Greenoaks, and Quiet Capital.

In 2021, Brian Armstrong joined former GV partner and bioengineer Blake Byers and stem cell biologist Jacob Kimmel in founding NewLimit with $110 million in seed capital, based in southern San Francisco.

Jeff Walton (@PunterJeff) of Strive said Strive is raising funds at a pace of $8.1 million per day. If this capital were used to pay dividends, it could support a $15.5 billion SATA token issuance. Walton noted that this amount equates to purchasing approximately 175,000 BTC at current prices, increasing Strive’s BTC holdings tenfold from its current size.

Stablecoin Payment Infrastructure Platform WasabiCard Completes Pre-A Round, Backed by Vision Plus Capital and 01VC

WasabiCard, a stablecoin payment infrastructure platform, announced completion of its Pre-A funding round, with investments from Vision Plus Capital and 01VC, bringing cumulative funding to nearly $10 million. The platform specializes in stablecoin payment infrastructure. Proceeds will be used to expand global payment infrastructure, enhance stablecoin card and withdrawal capabilities, grow enterprise client acquisition, strengthen compliance and product development, and advance AI Agent payments and programmable global payment workflows.

Regulatory Developments

U.S. Treasury Secretary Scott Bessent told the Senate Finance Committee that the Department of the Treasury is steadily advancing the establishment of a strategic Bitcoin reserve. He urged lawmakers to support the digital asset regulatory bill “Clarity Act,” expressing hope that it would pass this summer to bring best practices into domestic policy, positioning the U.S. as the world’s innovation hub.

Regarding the strategic Bitcoin reserve, Bessent emphasized that while the process is complex, it is moving forward, ensuring best practices are applied throughout to ensure long-term sustainability.

Russia’s Finance Ministry Opposes Dollar-Backed Stablecoins, Prioritizes Ruble-Backed Alternatives

Russia’s Deputy Finance Minister Ivan Chebeskov stated that the government does not intend to allow dollar-denominated stablecoins to circulate in the Russian market.

Chebeskov pointed out that foreign stablecoin issuers like USDT and USDC possess the technical capability to freeze user wallets. Once a wallet engages in transactions with platforms licensed by the Central Bank of Russia, holders face significantly heightened risk of asset freezing. He revealed that several Russian legal entities have already had their dollar-backed stablecoins frozen by issuers, whereas Bitcoin and Ethereum have not experienced similar incidents due to the lack of centralized control mechanisms.

Russia’s Finance Ministry believes a dedicated regulatory framework for stablecoins is necessary, with priority given to supporting stablecoins pegged to the ruble and friendly currencies, while granting the Central Bank of Russia authority to adjust the list of eligible underlying assets.

Voices from the Industry

Bitwise CEO: SpaceX IPO Valuation Could Approach Entire Crypto Market Excluding Stablecoins

Bitwise CEO Hunter Horsley posted on X that if SpaceX goes public in the future, its valuation could match the total market capitalization of the entire crypto market excluding stablecoins. This underscores that the crypto market remains relatively nascent and overall small in scale. Horsley also emphasized that focus should not be on competition between individual assets or projects, but on their ability to deliver truly valuable products and services that drive real-world adoption of blockchain technology. Bitwise supports all individuals and teams working toward this goal.

Arthur Hayes posted that bearish investors on WLD will face mounting pressure, and he expects WLD to see substantial upside driven by the AI narrative. He advised against exiting positions midway through the current rally.

OKX market data shows WLD trading at 0.52 USDT, up 33.44% over 24 hours.