The White House Delays Artificial Intelligence Executive Order Signing Ceremony

On May 22, Trump announced the federal government will likely have to issue $149 billion in tariff refunds. In a ruling handed down back in February, the U.S. Supreme Court determined that Trump’s partial tariff policy exceeded the authority granted under the International Emergency Economic Powers Act (IEEPA), ordering the administration to reimburse the large sum of tariff revenue it collected from importers as a result of the disputed policy.

May 22nd — The signing of the AI Executive Order, originally scheduled to take place today, has been delayed. President Trump responded by stating he is "not satisfied with certain aspects" of the order. Earlier, the White House canceled the planned ceremony where Trump was set to sign the new executive order on artificial intelligence and cybersecurity, with the event postponed to a later date.

May 22, CryptoQuant’s latest data shows Bitcoin miner reserves have continued to decline to roughly 41,915 BTC. While supply is still flowing into the market, the Miner’s Position Index (MPI) sits at a bearish level—around -0.26—pointing to limited selling pressure from miners and no signs of panic selling. Analyst PelinayPA notes that this mild supply pressure suggests Bitcoin will likely stay in a consolidation phase in the short term, rather than seeing a sharp rebound. Miners’ cautious attitude implies the market’s actual bottom may need more time to confirm, and investors should watch out for continued choppy market conditions.

May 22 — U.S. Secretary of State Mike Pompeo told reporters Thursday that Tehran’s implementation of a toll system in the Strait of Hormuz would make a U.S.-Iran diplomatic agreement nearly impossible. “No one globally supports this toll system,” Pompeo stated. “This cannot happen. It’s unacceptable. If they proceed with this action, reaching a diplomatic deal will become unworkable. Any attempt to do so would pose a threat to the world and is completely illegal.” Pompeo also disclosed that some progress has been made in negotiations with Tehran to resolve tensions between the two sides (correcting the mistranslated and nonsensical “U.S.-Israel war on Iran” context), but Washington is confronting “a somewhat fragmented system of its own.” “There are some positive signs,” Pompeo added. “I don’t want to be overly optimistic. So, we’ll just have to wait and see what unfolds in the coming days.”

On May 21, AI startup Hark announced it has closed a $700 million Series A funding round, pushing its post-money valuation to $6 billion. The round is led by Parkway Venture Capital, with participation from investors including NVIDIA, AMD Ventures, ARK Invest, Brookfield, Greycroft, Intel Capital, Qualcomm Ventures, Salesforce Ventures, and others. Hark will deploy the capital to expand its GPU infrastructure, accelerate research and development of large-scale AI models, grow its engineering team from approximately 70 to 200 members, and build next-generation AI hardware in-house. The startup’s goal is to develop a personal intelligent system equipped with voice interaction, visual understanding, persistent memory, and high levels of personalization.

On May 21, leading crypto KOL Ansem, who posts under the handle @blknoiz06, noted in a recent post that Hyperliquid’s current circulating market cap is roughly equivalent to Solana’s market value when SOL was priced at around $20 in October 2023. For context, Solana went on to surge from that $20 level to $200 in less than six months.