Trump Cancels Planned Strike on Iran, Oil Prices and US Bond Yields Fall, Stock Market Rebounds
May 19th — President Trump announced he called off the planned strike on Iran set for Tuesday, after Gulf-region allied leaders requested more time to pursue a diplomatic solution. Trump noted the leaders of Saudi Arabia, Qatar, and the UAE made this ask, arguing a deal could be struck that would satisfy the U.S., Middle Eastern nations, and the wider region. The core terms of this agreement would require Iran to forgo developing nuclear weapons.
Trump added: “There appears to be a strong chance of reaching a deal with Iran. Gulf allies asked if the planned strike could be delayed for 2 to 3 days, as they believe an agreement is imminent. Iran must formally confirm in writing that it will not develop nuclear weapons. I believe we’ve made meaningful headway on the Iran front.”
Trump has ordered Defense Secretary Esper and other U.S. officials to stand down from military action, but also warned he’s directed the military to stand ready to launch a “broad-spectrum, large-scale strike” o
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Echo Protocol suffers an attack, with hackers minting 1000 eBTC and transferring some of the funds to Tornado Cash
According to PeckShield’s monitoring, the Echo Protocol on Monad was hacked on May 19th. The attacker minted 1000 eBTC (roughly $76.7 million), deposited 45 eBTC (worth around $3.45 million) into Curvance using a standard, well-tested process. They then used that deposit as collateral to borrow approximately 11.29 WBTC (about $867,700), bridged the WBTC to the Ethereum network, swapped it for ETH, and finally transferred 384 ETH (valued at roughly $821,700) to Tornado Cash.
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Trump Hosts Lavish Swearing-In Ceremony for Wash at White House, Reenacting Greenspan Moment
May 19 — White House officials have disclosed to *The Wall Street Journal* that President Donald Trump will host the swearing-in ceremony for incoming Federal Reserve Chairman Kevin Wash this Friday at the White House. The event underscores the president’s high regard for this nomination.
Back in 2018, during his first term, Trump nominated Jerome Powell to lead the Fed. Powell’s own swearing-in ceremony, however, was held at the Fed’s headquarters, with President Trump not in attendance.
This marks a shift from recent precedent: the last Federal Reserve Chairman to be sworn in at the White House was Alan Greenspan, in 1987. Every Fed Chairman named since then has had their swearing-in at the Federal Reserve instead. The last president to attend a Fed Chair’s swearing-in at the White House was George W. Bush, who was present for Ben Bernanke’s 2006 swearing-in ceremony. That same year, Wash was sworn in as a Fed governor at the Eisenhower Executive Office Building by then-Vice Presid
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U.S. Judge Dismisses Musk's Lawsuit Against OpenAI and its CEO Altman
On May 19, a U.S. jury ruled that OpenAI and its CEO are not liable to Elon Musk, dismissing his lawsuit as it was filed too late. The jury determined that Musk’s allegations that OpenAI had deviated from its charitable mission—specifically, shifting to a for-profit entity under Sam Altman’s leadership—had expired under the statute of limitations, and thus were not actionable. Earlier, Musk had sued OpenAI, accusing the AI firm of betraying its public-benefit mission after transitioning to a profit-driven model under Altman’s guidance. (Jinse)
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Trump: Postponing Military Strike Against Iran Scheduled for Tomorrow
U.S. President Trump stated on May 19 that Qatar, Saudi Arabia, and the UAE have requested the U.S. to pause its planned military strike on Iran, which was originally scheduled for tomorrow.
Additional instructions have been issued: if an acceptable agreement is not reached, preparations must be finalized immediately to carry out a large-scale, comprehensive military strike against Iran.
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