U.S. Secretary of State: More Updates on Iran Situation Possible Today

May 24 — Turkey’s Presidential Palace News Bureau announced that President Recep Tayyip Erdogan, during a call with U.S. President Donald Trump and leaders from several Middle Eastern countries, said Turkey is prepared to offer all forms of support should a potential U.S.-Iran agreement be implemented. Erdogan added that Turkey has long advocated for resolving issues through dialogue and diplomacy, noting that an agreement to open the Strait of Hormuz would bolster regional stability and ease strain on the global economy. The statement did not specify the timing of Erdogan’s call with the other leaders, the news bureau said. (Xinhua News Agency)

On May 24, the Virtuals Protocol ecosystem launched OxTrenchor, a new Bankr-like tool that lets any user on X issue tokens quickly using simple commands. The key difference from Bankr: OxTrenchor allocates 100% of creator fees directly to a specific X handle, with no extra platform fees. Core Virtuals Protocol member @0xTP91 praised the tool post-launch, describing it as a positive shift from Bankr’s "please" model—where developers had to actively claim tokens issued via Bankr—to a "support" model that offers a more user-friendly path for community members and builders to build capital. The comment sparked frustration from Bankr developer @0xDeployer, who shared a screenshot accusing the Virtuals team of a classic double standard: criticizing Bankr publicly while pushing their own token-issuing tool. As of press time, Virtuals Protocol team members have not confirmed whether OxTrenchor has official backing from the project.

May 24 — U.S. Secretary of State Michael Pompeo says a deal with Iran could be announced later Sunday.

Iranian President Ebrahim Raisi said on May 24 that no decisions will be made outside the framework of the Supreme National Security Council, nor without coordination and approval from Iran’s Supreme Leader, per Fars News Agency.

May 24 — A potential memorandum of understanding (MOU) between Iran and the United States would see Washington lift sanctions on Iranian oil, Iran’s Tasnim news agency reports. The MOU stresses ending all conflicts across all fronts, including Lebanon. It calls on Israel to halt its war in Lebanon, sets a 30-day deadline for resolving procedures related to the Strait of Hormuz and lifting the blockade. A 60-day timeline will also be established for nuclear negotiations; to date, Iran has not taken any action related to its nuclear program.

May 24 — Tasnim News Agency, Iran says if Iran strikes a deal with the U.S., the situation in the Strait of Hormuz will not return to its pre-war state, and the number of ships transiting the strategic waterway will rebound to pre-war levels within 30 days.