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U.S. military authorities said Iran launched an unprovoked attack on U.S. Navy destroyers as they were passing through the Strait of Hormuz.

Kara Calvert, Coinbase's Vice President of U.S. Policy, stated at the Consensus 2026 conference in Miami that she expects a legislative markup for a proposed crypto clarity bill to occur next week. According to Cointelegraph, she urged for bipartisan cooperation, noting that 70% of voters support the bill's passage. Calvert also highlighted that reforming the current "irrational" tax reporting system, which taxes transactions as small as one dollar, would be a key factor in attracting institutional capital.

Swiss financial giant UBS has officially disclosed its investment in XRP through a 13F filing with the U.S. Securities and Exchange Commission (SEC), U.Today reported. Instead of holding spot XRP directly, the bank holds 197,369 shares of the Volatility Shares XRP ETF and 317 shares of the Grayscale XRP Trust.

Blockchain privacy and anti-money laundering (AML), a long-standing challenge for the virtual asset industry, can coexist technologically, CoinDesk reported, citing experts at a Consensus 2026 panel. The panelists noted that the introduction of sophisticated, wallet address-based forensic technology is forming an intelligent layer capable of identifying illicit funds without directly disclosing user identities. Rajiv Bamra, head of strategy at Moody's, predicted that a hybrid model combining both private and public chains will become the mainstream. He explained that while institutions prefer private chains for their accountability, they cannot forgo the rich liquidity of public chains. Shange, a director at ChangeNOW, emphasized that the essence of Bitcoin is anonymous cash. He suggested that an alternative to collecting personal information through know-your-customer (KYC) procedures could be to analyze the behavioral patterns of addresses and cooperate with law enforcement.

The next major users of stablecoins are expected to be AI and large corporations, rather than individuals, CoinDesk reported. Experts at the Miami Consensus 2026 conference agreed that autonomous payments between AI agents will drive exponential growth in the stablecoin market. Einhaus, a director at Bridge, which was acquired by Stripe for $1.1 billion, said that blockchain rails will dramatically lower payment costs, enabling micropayments between AI. Binance founder Changpeng Zhao also emphasized that the BNB Chain is the optimal rail for automated transactions between AI agents.

The U.S. Court of International Trade has ruled that President Donald Trump's 10% global tariff is unlawful, News1 reported.

A spokesperson for Iran's Khatam al-Anbiya Central Command announced in a statement today that the country's military has retaliated against U.S. forces. The statement accused the U.S. military of violating a ceasefire by striking an Iranian oil tanker en route from the coast of Jask to the Strait of Hormuz, as well as another vessel entering the strait opposite the UAE's Port of Fujairah. Iran also alleged that the U.S., in cooperation with some regional countries, conducted airstrikes on civilian areas off the coasts of Hamil, Sirik, and Qeshm Island. In response, the Iranian military claimed to have attacked U.S. warships east of the Strait of Hormuz and south of the Port of Chabahar, inflicting what it described as significant losses. The spokesperson emphasized that Iran will respond to any act of aggression.

Coinbase (COIN) reported first-quarter total revenue of $1.41 billion, falling short of the market consensus of $1.52 billion. Trading revenue came in at $758 million, below the expected $805 million. Subscription and services revenue was $583 million, also missing the forecast of $619 million despite efforts to reduce reliance on transaction fees. Media outlets attributed the weaker-than-expected results to declining cryptocurrency prices, which negatively impacted trading activity and investor sentiment. COIN is currently trading at $184.15 in after-hours trading, down 4.57%.

Iran's Supreme Joint Military Command said the U.S. attack on an Iranian oil tanker and another vessel entering the Strait of Hormuz violates the ceasefire agreement.

The U.S. military conducted strikes on Iran's Qeshm and Bandar Abbas ports on May 7, according to a senior U.S. official cited by Fox News. The official added that the action does not signify a resumption of war or an end to the current ceasefire agreement. The strike on the Iranian oil ports comes two days after Iran launched 15 ballistic and cruise missiles at the UAE's Fujairah port. A senior Pentagon official had previously described Iran's attack on May 5 as a low-intensity action that did not constitute a violation of the ceasefire.

Institutional investors are increasing their allocation to Bitcoin as overall crypto investment sentiment improves, Cointelegraph reported, citing a report from crypto asset manager CoinShares. According to a CoinShares survey of 26 institutional investors conducted in April, approximately 32% of respondents were invested in Bitcoin, while 25% held Ethereum. The report noted that Bitcoin still holds the most promising growth prospects, adding that investment sentiment for Ethereum and Solana has also seen a slight improvement from the previous quarter. The firm stated that institutions are increasing their crypto allocations amid improving market sentiment, the growing adoption of ETFs, and a more favorable regulatory environment. The primary barriers to broader adoption were identified as internal constraints and regulatory uncertainty.

The three major U.S. stock indices closed lower today. - S&P 500: -0.38% - Nasdaq: -0.13% - Dow Jones: -0.63%

Coinbase has announced it will halt trading for 12 perpetual futures contracts at 1:00 p.m. UTC on May 21. The affected tokens are KAITO, SENT, SAHARA, CAKE, TOSHI, AKT, VET, ANIME, THETA, ZK, KERNEL, and BARD.

Binance founder Changpeng Zhao has expressed his desire to provide U.S. investors with access to the exchange's global-level cryptocurrency liquidity. Speaking at Miami Consensus 2026, Zhao stated that the best liquidity in the crypto market is found outside the United States, noting that crypto is one of the few markets where American investors have difficulty accessing optimal prices. He added that he believes Binance has the best liquidity in the ecosystem. Zhao emphasized that he wants to either resume Binance.US operations or find another way to offer world-class liquidity and pricing to U.S. investors.

The upcoming U.S. midterm elections could be a significant turning point for the cryptocurrency industry, predicted Jesse Spiro, Head of Government Relations at Tether. Speaking at a panel discussion at Consensus Miami 2026, Spiro noted that while there has been significant progress and positive change over the past year, citing the passage of the Stablecoin Regulation Act (GENIUS Act) and CLARITY, the situation could always be reversed. He warned that the midterm elections scheduled for later this year could have a seismic impact on the direction of the crypto industry. At the same time, Spiro added, pro-crypto groups are preparing to inject substantial political funding.

Bitmine (BMNR) Chairman and Fundstrat co-founder Tom Lee said the company may slow its pace of Ethereum purchases as it approaches its corporate supply target of 5%, CoinDesk reported. He noted that at its current rate of buying roughly 100,000 ETH per week, the company expects to reach its 5% goal within six weeks and is now considering a slowdown. Lee added that after reaching the target, Bitmine will focus on staking and share buybacks. The company had initially projected that acquiring 5% of the Ethereum supply would take five years, but it has already secured 4.29% in less than one year. Bitmine currently holds over 5.1 million ETH.

Donald Trump Jr. has refuted recent online rumors about the bankruptcy of World Liberty Financial (WLFI). According to CoinDesk, speaking at the Consensus event in Miami, he said that not everything reported by the media is true and that stories are often fabricated or manipulated. He stressed that critics and some media outlets are intentionally spreading misleading narratives about WLFI.

The U.S. Senate Banking Committee is expected to announce a markup schedule for the CLARITY Act as early as tomorrow, according to Eleanor Terrett, host of Crypto in America. The committee has reportedly distributed a draft of the bill to some industry stakeholders ahead of the vote. While the bill's details are still under negotiation, further amendments may be made to reflect Democratic priorities. Terrett added that while the overall mood following a review of the bill and discussions with industry leaders has been positive, concerns remain that some provisions could alter key points previously thought to be settled.

Ethereum's (ETH) share of the total value locked (TVL) in DeFi has fallen below 54%, marking its lowest level since May 2025, according to Unfolded.

The Bitcoin bear market is likely over, according to Tom Lee, Chairman of Bitmine (BMNR) and co-founder of Fundstrat. Speaking at the Consensus 2026 Miami event, he told CoinDesk that Bitcoin is breaking out of the downtrend that saw it fall from $126,000 last October to $60,000 in February. Lee noted that after positive monthly closes in March and April, the cryptocurrency has gained another 5% so far in May. He argued that Bitcoin has never recorded three consecutive monthly gains during a bear market, emphasizing that if BTC closes above $76,000 this month, the bear market will be definitively over.

Nathan McCauley, CEO of crypto custody and banking firm Anchorage Digital, has revealed that numerous financial institutions and major tech companies are preparing to issue their own stablecoins, CoinDesk reported. Speaking at the Consensus conference in Miami, McCauley stated that Anchorage has secured most of the major stablecoin issuance projects following the passage of the stablecoin regulation bill (GENIUS Act). He added that between 12 and 20 institutions and large tech firms are currently working with the company to launch their own stablecoins. McCauley also noted that banks are showing interest in issuing stablecoins to achieve specific financial objectives, while existing stablecoin operators are looking to expand their distribution channels.

The U.S. Treasury Department has demanded that Binance enhance its compliance measures following media reports that Iran is using the exchange to evade American sanctions, The Information reported. Previously, The New York Times and The Wall Street Journal raised allegations that Iran had bypassed U.S. sanctions and financed terrorist groups through Binance. The demand is seen as a follow-up to the major settlement Binance reached with U.S. authorities in 2023. At that time, the exchange agreed to a $4.3 billion fine for anti-money laundering and sanctions violations and pledged to implement an independent compliance monitoring system. The Treasury Department appears to be using the latest allegations to verify Binance's adherence to its obligations under the settlement, demanding a block on Iran-related transactions and stronger internal controls.

CryptoQuant reported that unrealized profits for BTC investors have reached their highest level since June 2025. The firm's analysis indicates that, historically, the likelihood of a price correction has increased in such scenarios as investors move to take profits. This pattern has repeatedly shown that as the margin of unrealized gains expands, so does the sell-side pressure from profit-taking.

The CLARITY Act has the support of 52% of voters, with only 11% opposed, reported Eleanor Terrett, host of Crypto in America. According to a recent poll, the bill is backed by Republican, Democratic, and independent voters alike.

An analysis suggests a deepening concentration of short positions in the BTC futures market, CoinDesk reported. Speaking at the Consensus event in Miami, James Atchison, founder and Chief Investment Officer (CIO) of Caerus Global, explained that BTC funding rates are moving at an annualized rate of -4%. He described this as a rare structure where investors with long positions receive funding fees, reflecting a discrepancy within the derivatives market. Atchison pointed out that even as the price of BTC surpassed $75,000 in April, the funding rate fell to its lowest level since 2023. He added that in the past, similar phenomena have been followed by a medium- to long-term upward trend for BTC.