A whale is holding a 20x BTC long position worth $49.1 million, currently at a unrealized loss of $4.49 million.

Cryptocurrency trader Michael van de Poppe told CoinDesk in a May 23 interview that the crypto market’s risk appetite is climbing right now—and Hyperliquid’s strong performance, paired with a resurgence in AI-related crypto assets, could signal the start of the next altcoin season. Van de Poppe noted HYPE recently hit a new all-time high, driven in part by the U.S. launch of Hyperliquid-linked ETFs plus European traders shifting their perpetual contract trading to the platform. He added that Hyperliquid’s expansion into tokenized stocks, commodities, and pre-IPO assets is accelerating the adoption of on-chain assets across the crypto space. That said, he pointed out Solana is a more attractive long-term investment than Hyperliquid, thanks to its transition from a retail-led ecosystem to institutional-grade infrastructure. When it comes to the AI race, Van de Poppe highlighted NEAR Protocol and Bittensor remain deeply undervalued, even as their ecosystems keep growing. Their valuatio

May 23rd – According to the Financial Times: A mediator says the U.S. and Iran are nearing a deal to extend their ceasefire by 60 days.

On May 23, The Wall Street Journal (WSJ) reported that cryptocurrency exchange Binance processed roughly $850 million in transactions linked to an Iranian sanctions evasion ring over two years, with the funds ultimately flowing to Iran’s Islamic Revolutionary Guard Corps (IRGC). In response, Binance CEO Richard Teng took to X to push back on the report, calling it “fundamentally inaccurate.” Teng emphasized Binance’s policy barring sanctioned entities from transacting on its platform, and noted that the suspicious activity in question occurred before the relevant parties were sanctioned by the U.S. government. The WSJ’s piece identified Iranian businessman Babak Zanjani as the central figure in the alleged network, claiming Zanjani’s companies and associated accounts operated through a single device to build a covert payment system on Binance. The outlet also stated Binance’s internal compliance systems flagged unusual access from Tehran by the end of 2024, triggering multiple risk a

Crypto firms, industry groups, and lobbying organizations across the U.S. crypto sector are accelerating their push to formalize the industry’s integration into mainstream U.S. finance in Washington—per a May 23 report from The Information. Major players including Coinbase and a16z crypto have joined forces with other crypto companies, trade associations, and advocacy groups to build a tighter coordination network focused on advancing key legislative priorities: stablecoin regulation, a crypto market structure bill, and cryptocurrency ETF approval. This push is fueled by the Trump administration’s growing crypto-friendly stance and rising bipartisan support in Congress, which insiders frame as a "make-or-break moment" for the sector to solidify its place at the core of America’s financial system. Top firms are ramping up their policy influence in D.C. via political donations, expanded lobbying teams, and cross-industry alliances, aiming to shift U.S. crypto regulation from a "suppres

May 23, Iranian Foreign Ministry spokesperson Baghaei stated that after weeks of talks, "the views of both Iran and the U.S. are moving toward greater alignment," and the two sides are currently in the final stages of drafting a memorandum of understanding. Separately, U.S. Secretary of State Pompeo confirmed that Iran negotiations have made some progress, adding that the U.S. could release announcements regarding Iran in the coming days. Per monitoring by PolyBeats, the probability of "the U.S. and Iran reaching a permanent peace deal" by May 31 has climbed to 20% on prediction market Polymarket, while the figure rose to 53% for an agreement by June 30.

On May 23, an Iranian Foreign Ministry spokesperson said ongoing mediation talks with the U.S. are "time-consuming and grueling," noting that U.S. hostility dates back several decades. "We’ve discussed key issues and still-contentious wording, put forward proposals, and some remain under review as all parties weigh in with their views."