May 31 — The Cardano Foundation announced that its scheduled 2026 summit has been officially canceled, as an on-chain governance vote failed to hit the required two-thirds support threshold. Earlier, the foundation submitted a revised proposal requesting 7.8 million ADA (approximately $2 million) in treasury funds to host the October summit in Singapore. Though the measure earned 65.21% support from DRep stakers and backing from a majority of delegates, it did not meet the 66.67% approval threshold required for treasury funding proposals. Cardano founder Charles Hoskinson and Cardano Foundation CEO Frederik Gregaard both publicly urged support for the proposal ahead of the voting deadline, but it ultimately failed to pass.

CNN reported on May 31 that officials said after meeting with his advisers Friday, Donald Trump revised the proposed deal with Iran, a move that will further extend the negotiation process. The specific changes Trump requested haven’t been made public, but officials noted the U.S. president is pushing for tougher language on two key points: Iran’s nuclear commitments, and a guarantee to reopen the Strait of Hormuz. He’s also raising concerns about the economic relief the agreement would provide to Iran. Separately, Trump has previously stated the U.S. would seize and destroy Iran’s stockpile of highly enriched uranium, emphasizing the deal would not include any financial exchanges. Iran, however, has indicated that current negotiations aren’t covering details of its nuclear program, and insists any final agreement must include financial arrangements. As both sides continue to haggle over the agreement’s wording, it’s still unclear how these disagreements will be resolved.

On May 31, data from Coinglass indicates that if Bitcoin breaks above the $75,000 level, total short liquidation intensity across major centralized crypto exchanges (CEXs) will reach $453 million. Conversely, if Bitcoin drops below $72,000, total long liquidation intensity on these major CEXs will hit $670 million. A clarification from BlockBeats: Liquidation charts do not show exact numbers of contracts to be liquidated or the precise value of contracts being liquidated. The bars on these charts instead represent the relative importance of each liquidation cluster compared to adjacent clusters—this metric is referred to as intensity here. In other words, the chart demonstrates the degree to which a given price level will impact the underlying asset when it is reached. A higher "liquidation bar" means hitting that price level will trigger a more intense reaction due to a liquidity cascade.

As of May 31: U.S. President Trump stated that a ceasefire deal between the U.S. and Iran is close to being finalized, while demanding Iran abandon its nuclear weapons capability and open the Strait of Hormuz. Iran, however, has not approved the final agreement text, noting there are still unresolved gaps in related arrangements. U.S. Secretary of Defense Hedges warned the U.S. stands ready to resume military action against Iran should negotiations fail. If Washington and Tehran can reach a ceasefire extension or a phased deal next week, risk assets may extend their gains, while oil prices and safe-haven assets will face new directional headwinds. On the macro front, the U.S. will release key economic data next week, including May’s seasonally adjusted non-farm payroll figures and May unemployment rate. Several Federal Reserve officials are also scheduled to speak, giving markets more insights to weigh the U.S.’s economic slowdown against persistent inflation pressures, as well as shi

May 31: Kowsari, a member of Iran’s National Security and Foreign Policy Committee, told the Iran Student News Agency that the nuclear issue is off the negotiation table and no final agreement has been reached. The report comes from Golden Finance.

On May 31, on-chain analyst Ai Auntie (@ai_9684xtpa) reported that the wallet address 0xc72…0517c had opened short positions in BTC, ETH, and HYPE all the way back in mid-November last year. The combined value of the BTC and ETH shorts is $7.321 million, bringing an unrealized profit of $2.5 million. Meanwhile, the $1.7 million HYPE short carries an unrealized loss of $1.029 million. Netting these results together, the entire account holds a total net unrealized profit of $1.471 million.