The popular AI framework Virtuals Protocol will host an in-person meet-up in Hong Kong on Friday, January 17.

**May 4th Brief** U.S.-Iran talks have shifted from a "war of words" to substantive text exchanges in the past 24 hours, though significant differences persist. Iran’s 14-point proposal—delivered to the U.S. via Pakistan—outlines a three-phase plan: a full ceasefire within 30 days, lifting port blockades, synchronized Strait of Hormuz opening, and nuclear activity arrangements. The U.S. has formally responded to the proposal through Pakistan. Trump stated U.S.-Iran dialogue is currently "productive" and will launch efforts to guide stranded ships out of the Strait of Hormuz. Meanwhile, Israel has taken a hardline stance: ministers issued a gag order and ramped up military preparedness. This morning, Bitcoin and oil saw sharp volatility: - Oil opened lower but surged after major traditional markets opened; WTI crude now trades at $102.1. - Bitcoin moved opposite to oil: it briefly topped $79,000 this morning before a quick pullback, currently at $78,509.70. Overall

On May 4: Per Onchain Lens data, a whale dormant for two years deposited 141.26 BTC—valued at $11.16 million—into crypto exchange Kraken.

On May 4, U.S. Central Command (CENTCOM) announced the military will launch support for **Operation Freedom** that day, aiming to restore freedom of navigation for commercial vessels transiting the Strait of Hormuz. The President-ordered mission seeks to enable safe transit for ships through this critical international trade route. Roughly one-quarter of the world’s seaborne oil trade—plus significant volumes of fuel and fertilizer—moves through the strait. CENTCOM Commander General Frank McKenzie noted: “Support for this defensive mission is critical to regional security and global economic stability as we uphold maritime security in the area.” Last week, the U.S. State Department and Department of Defense (DoD) unveiled a new initiative to boost coordination and information sharing among international partners for strait maritime security. The **Maritime Freedom Initiative** aligns diplomatic efforts with military coordination, a key pillar of Operation Freedom. U.S. militar

**WASHINGTON, May 4 —** President Trump announced Sunday on social media that the U.S. will begin guiding some stranded neutral ships out of the Strait of Hormuz starting Monday. U.S. representatives are in “very active discussions” with Iran that could yield a result “very favorable to all parties,” though he did not share further details. Trump said the move is “purely to rescue those who are completely innocent—people, companies, and countries victimized by the situation.” He added that if the humanitarian action faces any interference, the U.S. will unfortunately have to respond with force. A senior U.S. official noted the new initiative, dubbed the “Freedom Plan” by Trump, aims to let countries, insurance firms, and shipping organizations coordinate vessel passage through the strait. The plan does not currently include U.S. Navy warships escorting the ships, the official emphasized.

May 3 — Analysis from blockchain firm Nominis shows some cryptocurrency wallets tied to Iran that the U.S. Office of Foreign Assets Control (OFAC) recently seized and froze lack typical behavior linked to the Islamic Revolutionary Guard Corps (IRGC), hinting at possible involvement by other national-level actors. Previously, the U.S. Treasury Department announced it had frozen over $340 million in assets as part of “Operation Economic Fury,” pushing total Iranian-related crypto assets frozen to nearly $500 million. Nominis CEO Snir Levi noted IRGC-linked wallets historically distributed funds to multiple addresses, kept low single-wallet balances, avoided long-term holdings, and used complex maneuvers to lower freeze risks. But the newly seized wallets differ sharply in fund structure and behavior. He raised a key question: How much of the $340 million frozen is directly controlled by the IRGC, and how much ties to a broader infrastructure overlapping with other countries’ financ

On May 3, Forbes reported that a U.S. court sentenced Robert Dunlap—the mastermind of the Meta-1 Coin crypto scam—to 23 years in prison. He was charged with defrauding roughly 1,000 investors of more than $20 million via a fake crypto investment scheme spanning 2018 to 2023. The U.S. Department of Justice (DOJ) noted Dunlap claimed his Meta-1 Coin was backed by a $440 billion gold reserve and $1 billion worth of art by Picasso, Dali, and Van Gogh. He promised investors a maximum return of 224,923%—and provided forged audit documents and insurance materials to back the claims. Investigators found the purported gold and art assets did not exist. The “Meta Exchange” website he operated used automated trading bots to fake profit. The tokens were never actually issued on the blockchain, and investor funds were later spent on luxury items—including a Ferrari. Notably, the U.S. Securities and Exchange Commission (SEC) filed a civil fraud lawsuit against Dunlap as early as 2020—but he