Yesterday's SOL Spot ETF saw a net inflow of $6.8 million.

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

**Minneapolis Fed’s Kashkari: War Could Force Rate Hikes in Some Scenarios** Minneapolis Federal Reserve President Neel Kashkari said Wednesday (May 3) that the Fed may need to hike interest rates in certain scenarios as the ongoing war strains supply chains and fuels inflationary pressures. Kashkari noted the longer the conflict drags on, the more acute inflationary pressures will become. Even if the war ends immediately, supply chains could take months to recover, he added. He stressed the Fed’s top current challenge is the “highly uncertain inflation trajectory,” so policymakers must remain flexible on future rate moves. Additionally, Kashkari said he does not view the U.S. government’s debt load as an “imminent crisis.” He also expressed a willingness to collaborate with Fed nominee Kevin Warsh going forward, saying he will seriously consider some of the concerns Warsh has raised.

On May 3rd, U.S. Treasury Secretary Janet Yellen said oil prices are expected to drop sharply after the war. Futures markets are also forecasting lower oil prices, and more vessels transiting the Strait of Hormuz would come as no surprise. Iran’s efforts to impose tolls on vessel passage have met little success. The U.S. is currently hitting record energy exports—its only constraint is infrastructure. The U.S. is a "big winner" in the energy market.