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In response to U.S. President Donald Trump's plan to free ships trapped in the Strait of Hormuz, an Iranian official has stated that the U.S. must either admit defeat and recognize Iran's control over the waterway through an agreement or return to the battlefield and face the consequences. The remarks were made by Ebrahim Rezaei, spokesperson for the Iranian Parliament's National Security and Foreign Policy Committee, the Iranian Students' News Agency (ISNA) reported on May 4.

U.S. Senators Thom Tillis and Angela Alsobrooks have issued a joint statement signaling that a compromise on stablecoin interest has effectively reached a final agreement, despite opposition from the banking sector, reported Eleanor Terrett, host of Crypto in America. In the statement, the two senators said they have reached a final agreement while respecting their differences.

Standard Chartered's subsidiary, SC Ventures, has made a strategic investment in crypto market maker GSR, The Block reported. The specific investment amount was not disclosed. The move makes SC Ventures the first strategic shareholder in GSR since the latter's founding in 2013. Meanwhile, Standard Chartered has been expanding its footprint in the crypto industry, with investments in firms like Zodia Custody and digital asset services company Keyrock. The bank is also pursuing the launch of a $250 million digital asset services fund through SC Ventures this year.

An address linked to Multicoin Capital staked 1.96 million HYPE, worth $82.06 million, about an hour ago, Onchain Lens reported. The address now holds a total of 2.83 million HYPE, valued at $118 million.

The Altcoin Season Index from crypto data platform CoinMarketCap has fallen five points from yesterday to 38. The index compares the price performance of the top 100 coins, excluding stablecoins and wrapped tokens, against Bitcoin. An 'altcoin season' is declared when 75% of these top coins have outperformed Bitcoin over the past 90 days, with a score closer to 100 indicating a stronger trend. The opposite scenario is considered a 'Bitcoin season'.

Bitmine staked an additional 192,816 ETH, valued at $456 million, approximately six hours ago, Onchainlands reported. The company now holds a total of 4,555,573 staked ETH.

The Spot Cumulative Volume Delta (CVD) chart provides an order book analysis for the BTC/USDT spot pair. The upper section shows a Volume Heatmap, while the lower section displays the Cumulative Volume Delta. - The upper Volume Heatmap tracks the volume of trades at specific price levels. The background color becomes brighter when the price lingers in a certain range or moves significantly. These brighter areas may act as potential support or resistance zones. - The lower CVD indicator represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. For example, the yellow line tracks orders between $100 and $1,000, while the brown line represents large orders ranging from $1 million to $10 million.

The Fear & Greed Index from cryptocurrency data provider CoinMarketCap rose two points from yesterday to 47, maintaining its 'Neutral' status. The index indicates extreme fear as it approaches 0 and extreme optimism as it approaches 100. CoinMarketCap's index is calculated based on factors including the price movements of the top 10 cryptocurrencies by market capitalization, market volatility, derivatives market data like the put/call ratio, the Stablecoin Supply Ratio (SSR), and the platform's proprietary search data.

The challenge now facing President Trump is to reopen the Strait of Hormuz, according to the Deputy Commander for Political Affairs of Iran's Islamic Revolutionary Guard Corps. The commander stated that despite trying every possible option during a 40-day period of conflict and afterward, nothing was achieved. He added that Trump can neither return the situation to its state before Feb. 28 nor change the current circumstances.

Cryptocurrency analyst Michaël van de Poppe has stated that while Bitcoin faced strong resistance at the $80,000 level yesterday, this does not necessarily signal a sharp decline. He suggested that the foundation for an upward trend is already in place, making it highly probable that BTC will see further gains after a period of short-term consolidation. Van de Poppe added that the short-term uptrend remains valid as long as the price does not fall below the $73,000 to $75,000 range, noting that the current price is still above this threshold.

A bill has been introduced in the U.S. state of Michigan that could limit the expansion of the cryptocurrency mining industry, U.Today reported. The legislation, House Bill (HB 5882), would grant local municipalities the authority to impose a moratorium on the construction of crypto mining facilities and large-scale data centers. Introduced by state representatives Miller, Dievendorf, and Paiz, the bill has been referred to the Government Operations Committee. The measure aims to address community concerns regarding energy consumption, noise, and strain on the power grid by allowing local governments to assess environmental and infrastructure impacts before construction. Industry observers believe that if enacted, the bill could slow the growth of the mining sector in Michigan.

The U.S. White House was temporarily locked down following a nearby shooting incident in which the Secret Service discharged a weapon, Newsis reported. Authorities are currently investigating the circumstances of the incident and the extent of any casualties.

Iranian Foreign Minister Araghchi stated that the situation in the Strait of Hormuz clearly demonstrates that political crises cannot be resolved through military means. He noted that negotiations are progressing amid active mediation efforts by Pakistan. Araghchi emphasized that the U.S. must be wary of being dragged back into a quagmire by actors with ulterior motives, adding that the same warning applies to the United Arab Emirates (UAE). He also criticized the U.S. "Freedom Plan," describing it as "nothing more than a plan to create a deadlock."

GameStop has announced a major expansion plan to acquire online marketplace eBay for $55.5 billion, raising questions about the future of its $368 million corporate Bitcoin holdings. According to CoinDesk, GameStop plans to fund the deal using its $9.4 billion in cash and liquid assets, supplemented by up to $20 billion in additional financing. The media outlet noted that the transaction will force the company to decide whether to retain its Bitcoin as a long-term asset or liquidate it to fund the expansion. GameStop did not respond to a request for comment on its plans for its Bitcoin. Previously, GameStop CEO Ryan Cohen stated he was planning to acquire a publicly traded consumer goods company, adding that the new plan was much more attractive than Bitcoin.

New York Fed President John Williams said today that the inflation situation has not reached a level that would require discussing an interest rate hike. He stated that the Federal Reserve's current accommodative stance reflects the long-term direction of its monetary policy. Speaking to reporters after a speech in New York, Williams said he sees no signs in the current data suggesting a need to raise rates in the short term. However, he added that due to significant uncertainty, it is difficult to provide clear guidance on the direction of rates for the next few meetings.

The three major U.S. stock indices closed lower today. - S&P 500: -0.41% - Nasdaq: -0.19% - Dow Jones: -1.13%

Tether Gold's (XAUT) gold reserves surpassed 154 tons, valued at approximately $3.3 billion, in the first quarter, marking a 36% increase from the previous quarter, Cointelegraph reported. This growth comes as investor demand for gold rises amid macroeconomic uncertainty stemming from the war in Iran. At the end of the quarter, 707,741 XAUT tokens were in circulation, with each token backed by one troy ounce of physical gold in the company's reserves.

Aave has filed an emergency motion in federal court seeking to lift an order that froze approximately $73 million worth of Ethereum linked to the KelpDAO attack. According to The Block, the motion challenges a May 1 order that prevented Arbitrum from moving the recovered funds. Aave countered that these claims are based on unproven speculation that the North Korean hacking organization Lazarus Group was behind the attack. The company further argued that even if this were true, temporary possession of stolen assets does not confer ownership. Aave founder Stani Kulechov emphasized that a thief cannot own what they have stolen and that the funds belong to the victims, stating the matter is not up for debate.

U.S. President Donald Trump criticized Federal Reserve Chairman Jerome Powell, referring to him as "Mr. Too Late" and describing him as a disaster for the United States. Trump repeatedly insisted that interest rates are too high.

Prediction markets are evolving from speculative platforms for retail investors into institutional-grade financial products, according to a report from U.S. investment bank Bernstein. The report noted that institutional investors are increasingly drawn to these markets because they offer a way to hedge specific event risks—such as tariffs, elections, and geopolitical shifts—through simple yes-or-no contracts. Bernstein highlighted a recent, first-of-its-kind custom institutional block trade on Kalshi as a significant milestone. The introduction of block trades, which are typically large and privately negotiated between institutional investors, and custom contracts could expand participation from investors seeking targeted exposure to specific event risks, the report explained.

Nine residents in Texas have filed a lawsuit against MARA Holdings, citing noise, health concerns, and a decline in property values, Decrypt reported. The plaintiffs allege that the company's Bitcoin mining facility generates constant noise, vibrations, and low-frequency sounds that disrupt their daily lives and negatively affect their health. They are seeking over $1 million in damages and have requested a jury trial. The suit was filed in the U.S. District Court for the Northern District of Texas.

Russian President Vladimir Putin has decided to implement a ceasefire on the Ukrainian front from May 8 to 9, Russian state-run RIA Novosti news agency reported on May 4. The decision comes ahead of Victory Day on May 9, which commemorates the end of World War II.

Canadian digital technology and financial services provider Tetra Trust has launched CADD, a stablecoin pegged to the Canadian dollar (CAD), CoinDesk reported. The stablecoin is the first of its kind to be issued by a regulated Canadian financial institution and has received approval from the Alberta Treasury Board and Finance. CADD is designed for institutional investors, aiming to replace traditional batch systems for use cases such as 24/7 cross-border payments, real-time corporate treasury management, and fintech transfers. It is available on major blockchains including Base, Ethereum, and Tempo, with support for Solana planned for the future. Canadian multinational e-commerce company Shopify and the National Bank of Canada are part of the project's consortium.

Coinbase has partnered with Kemet, a provider of crypto derivatives Order and Execution Management Systems (OEMS) and Portfolio Management Systems (PMS), BlockBeats reported. The partnership will integrate the Coinbase exchange and Deribit into the Kemet platform, allowing institutional clients to access Coinbase's trading platform through a single interface to process spot, futures, and options orders. As part of the agreement, Coinbase Ventures will make a strategic investment in Kemet, though the specific details have not been disclosed.

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