Trending news

BlockBeats reported on May 25 and CCTV that on the 25th local time, the Iranian delegation led by Iran's Islamic Parliament Speaker Khalibaf will return to Tehran tonight after concluding its meeting in Doha, the capital of Qatar. It is reported that the delegation's relevant agenda in Qatar has now concluded.

BlockBeats reports that on May 25, cross-chain liquidity layer platform SODAX officially announced that the Layer 1 platform ICON Network, which has been operating for nearly nine years, will officially cease operations on December 31, 2026, fully completing its migration to SODAX. At that time, the ICON chain will be permanently shut down, retaining only the read-only history query function. According to the announcement, the final deadline for ICX's migration to SODA is also December 31, 2026. If missed, ICX will be unable to continue migrating. Starting from September 30, 2026, two-way exchanges will end, and only ICX → SODA one-way migration will be supported. SODAX stated that as cross-chain infrastructure matures, industry bottlenecks have shifted from "settlement" to "liquidity, user experience, and execution efficiency," so the project will focus fully on SODAX's cross-network execution and liquidity system. Currently, SODAX supports transaction coordination across 18 blockchain networks. Officially, shutting down the ICON Layer 1 network helps concentrate resources on building the SODAX ecosystem. Currently, SODAX has launched a new SDK, a cross-chain lending marketplace, a protocol-owned liquidity (POL) system, and has completed integration with projects such as Bound Exchange and Houdini Swap. Additionally, SODA has entered Kraken's listing roadmap.

According to Bijie.com, Tom Lehman, co-founder of Ethereum Layer 2, has renewed efforts to include EIP-8182 in the Hegota upgrade planned for Ethereum, proposing a protocol-level privacy system for private ETH and ERC-20 transfers. According to the proposal Lehman emphasized on Friday, EIP-8182 will introduce a shared privacy pool directly managed by the Ethereum protocol, rather than relying on a decentralized user base, independent privacy applications. The proposal will also add zero-knowledge proof verification precompilation to Ethereum's base layer, allowing clients to process private transaction proofs directly at the protocol layer. Lehman stated that the design will follow a fork management structure similar to existing Ethereum protocol contracts, and future changes will only be made through network upgrades.

BlockBeats reported that on May 25, according to OnchainLens monitoring, a certain whale address deposited 17.566 million ENA (about $1.78 million) into Wintermute, resulting in a loss of about $3.6 million. The whale previously withdrew this ENA from Wintermute and Binance for about $5.38 million.

According to Bijie.com, gold prices rose more than 1% on Monday. As the market hoped for a peace agreement to end the Iran war, the dollar and oil prices retreated, easing concerns about rising inflation and interest rates "staying high for a long time." Although both the US and Iran downplayed the possibility of reaching an agreement in the near term, market sentiment remains optimistic. Giovanni Staunovo, an analyst at UBS Group, pointed out that financial asset trends are heavily influenced by oil prices, and gold prices are no exception. He further explained that falling oil prices are positive for gold, as the market expects that falling oil prices will impact the Federal Reserve's monetary policy, and this trend is expected to continue in the short term.

BlockBeats reported on May 25 that Reuters cited multiple Israeli officials as the U.S. led negotiations on a ceasefire and nuclear deal with Iran, Israeli Prime Minister Netanyahu privately admitted to his aides that Israel "currently has almost no room to interfere with Trump's decisions," and Israel's Square is gradually being excluded from core negotiations. The report states that the U.S. and Iran are currently discussing a preliminary memorandum of understanding, which may include Iran reopening the Strait of Hormuz in exchange for the U.S. lifting the maritime blockade and further nuclear negotiations. Iran is also alleged to be handling the issue of highly enriched uranium stockpiles under UN supervision. However, Israel remains cautious about the agreement. Netanyahu is concerned that the agreement has failed to adequately address Iran's nuclear program and stockpiles of nuclear materials, and insists on retaining the right for the Israeli military to continue military operations on multiple fronts, including Lebanon. Sources say that over the past week, Trump and Netanyahu have spoken at least three times. Although the U.S. and Israel remain coordinated, their strategic priorities have diverged. Currently, the United States is more inclined to push for the reopening of the Strait of Hormuz and a regional ceasefire, while Israel continues to emphasize the complete dismantling of Iran's nuclear enrichment facilities, limiting its missile programs, and weakening regional proxy networks. The report also pointed out that negotiations for the agreement come at a time when Netanyahu faces domestic political pressure and election challenges, with opposition criticizing him for failing to achieve previously proposed goals such as regime change in Iran and nuclear capability elimination.

BlockBeats reported on May 25 that Coinbase CEO Brian Armstrong announced eight visions for "Global Financial Upgrade," covering real-world asset tokenization, 24×/7 global trading, stablecoin payments, AI-driven compliance, open protocols, capital formation, friendly regulation, and "sound currency." These initiatives closely align with Coinbase's current product expansion strategy. Reportedly, Coinbase is transforming from a single crypto trading platform into an "all-in-one financial platform," with its business extending into stock perpetual contracts, prediction markets, stablecoin payments, and financial infrastructure. In March this year, Coinbase launched perpetual contracts for Apple, Nvidia, and other US stocks in parts of Europe; Previously, it also partnered with Shopify, Stripe, Nium, and Citi to promote USDC cross-border payments and stablecoin settlements. Additionally, in January this year, Coinbase launched a Kalshi-powered prediction market service covering all 50 U.S. states, allowing trading of sports, political, and cultural event contracts. Bernstein forecasts that the annual market transaction size could reach $1 trillion by 2030. However, Armstrong's concept of a "sound money" has also sparked discussion within the Bitcoin community. Pierre Rochard, CEO of The Bitcoin Bond Company, and Adam Back, CEO of Blockstream, both stated that Bitcoin should be the core of the new financial system, not the "last thing."

According to Bijie.com, influenced by the strengthening ruble and farmers' reluctance to sell, Russian wheat export prices continued to rise last week. Dmitry Relko, head of IKAR Consulting, stated that as of last weekend, the price of Russian wheat with 12.5% protein content was $245 per ton, up $5 from the previous week. He added that the price of the new season wheat, expected to be available in July, will also rise by $2 to $242 per ton. According to IKAR's estimates, Russia's wheat exports in May were between 3 million and 3.3 million tons. Data from Sovcon Consulting shows that the price range for Russian wheat with 12.5% protein content is $242 to $244 per ton, compared to $240 to $242 the previous week.

According to Bijie.com, NEAR Protocol has risen about 50% over the past week, currently priced at around $2.34, surpassing most major tokens and becoming the focus of market attention. According to CoinMarketCap data, NEAR's 24-hour trading volume exceeds $689 million, with a market cap in the low single-digit billions of dollars, ranking roughly among the top 30 crypto assets. NEAR's trading volume has fluctuated by about 14.4% over the past month. MEXC pointed out that NEAR's price rose 50% in the past seven days, making it the largest intraday gainer among the top 200 cryptocurrencies. NEAR's performance is closely linked to what Arthur Hayes calls the "Sacred Trinity" concept, with Hayes viewing NEAR, HYPE, and ZEC as the main investment choices in the current market.

BlockBeats reports that on May 25, Kevin Warsh, personally appointed by U.S. President Trump, was officially sworn in as Federal Reserve Chair. The public believes Trump will take full political responsibility for the U.S. economy and inflation performance for the first time. The report points out that Trump had long attributed high interest rates, a sluggish housing market, and an economic slowdown to former Chairman Powell, but with Walsh taking office, Fed policy has been seen as a direct extension of the "Trump economy." Currently, the U.S. economy faces multiple pressures, including the 30-year mortgage rate returning above 6.5%, PCE inflation rising to 3.5%, and the national average gasoline price surpassing $4.55 per gallon. The market is concerned that, against the backdrop of high inflation, the Fed may be forced to continue raising interest rates, which will further impact the Republican outlook for the midterm elections. Additionally, Walsh advocated weakening forward-looking guidance and increasing policy uncertainty, and the dissenting votes at the Fed's April meeting hit a nearly 30-year high, indicating clear internal divisions.

According to Bijie.com, Thomas Matthews, an analyst at Capital Macro, pointed out in a research report that even if the Middle East conflict ends, the likelihood of most major economies cutting interest rates this year is extremely slim. He stated that if the end of the war triggers a rebound in the bond market, the larger rebound will be limited to regions where interest rate expectations remain high. He gave an example: the UK is a country where bonds are expected to rise sharply, whereas the US is not in this category, so the rebound potential for its bond market is expected to be limited.

BlockBeats reports that on May 25, the crypto market will focus on US macroeconomic data this week, including PCE inflation, initial jobless claims, home prices, and new home sales, to assess whether the Fed has room to cut rates. Current forecasts and CME FedWatch both indicate a high probability that the Fed will keep rates unchanged in June. The market continues to monitor the situation in the Middle East and oil price fluctuations; if energy prices continue to rise, inflationary pressures may intensify and suppress risk asset performance. In addition, this week will see multiple DAO governance voting and token unlock events, including token unlocks for projects like EIGEN, HUMA, GRASS, and others.

Odaily Planet Daily reports that according to Iran's Mehr News Agency, Iran's Qashm Island air defense has been activated for unknown reasons. (Jin Shi)

According to Bijie.com, crude oil prices have dropped sharply, with Brent and WTI crude prices each dropping by more than 5%. WTI crude is near $90, Brent has dropped to $97, and market hopes for a US-Iran agreement are rising, suggesting the Strait of Hormuz may reopen. On Monday, WTI crude oil futures prices fell about 5% to close to $91 per barrel, while Brent crude also dropped to around $98, continuing last week's sharp decline. This sell-off reflects market expectations that the U.S. and Iran may reach an agreement to end the conflict, shifting market sentiment and traders beginning to consider potential solutions. The Strait of Hormuz is home to about one-fifth of the world's oil and liquefied natural gas transit routes, and any disruption would impact the global energy market. President Trump stated that the U.S. will maintain the blockade of the Strait of Hormuz until a formal agreement is reached, a stance that keeps a layer of uncertainty in the market and prevents a sharp price crash. The conclusion of a final agreement could continue the current downward trend in oil prices, especially if supply recovers quickly.

According to Bijie.com, Russia's maritime grain exports in April increased to 4.9 million tons, a year-on-year increase of 100.1%. Data shows that so far this sales season, Russia's total maritime exports have reached 46 million tons, a year-on-year increase of 7.4%. As the main route for Russian grain exports, Black Sea ports saw their exports grow by 89.0% in April, reaching 4.1 million tons. Caspian ports, mainly serving the Iranian market, saw total export shipments in April close to 300,000 tons, slightly below March's level. Baltic ports, responsible for supplying Russian grain to emerging markets such as Africa and Latin America, saw exports grow by 127.8% year-on-year to 400,000 tons. Exports from Far East ports grew by 21.5%.

BlockBeats reported that on May 25, on the eve of SpaceX's IPO, a related-party transaction controversy emerged. Musk's friend Antonio Gracias owned Valor Equity, which holds over 7.3% of SpaceX's shares, could be valued at $90 billion to $140 billion based on target valuations. Meanwhile, SpaceX disclosed that it signed a roughly $20 billion GPU lease agreement with Valor, under which xAI's subsidiary leases AI infrastructure hardware, with SpaceX providing payment guarantees. PwC determined that the deal was essentially closer to a loan than a normal lease, and requested that about $9 billion in related debt be included in SpaceX's balance sheet. Several corporate governance experts criticized the transaction for lacking "fair trade" disclosure and questioned the risk of related-party benefit transfer. The report states that Nasdaq's new rules may also promote SpaceX's rapid inclusion in the Nasdaq system after its IPO, expected to bring up to $60 billion in passive capital buying.

According to ChainCatcher, Squid posted on X that this incident is unrelated to Squid's core protocol and contracts, and that all Squid users and integrators have not been affected and that no action is needed. Base and a third-party Gnosis Safe module on the Ethereum network were attacked, resulting in losses of approximately $3.2 million. The vulnerability contract is validated on Basescan under the name "SquidRouterModule," but it is not built, deployed, or operated by Squid; rather, it is a third-party smart wallet product that integrates Squid and other protocols, and is not affiliated with Squid. The attack principle is that the third-party module accepts a constant string provided by the caller as a message security proof. This string is publicly visible in the validated contract code, and the attacker can execute any calldata array after entering it to steal funds at will. The victim's Safe wallet added the problematic contract as a trusted Safe Module, allowing the contract to control any token within Safe without a signature. Squid Proprietary Routing Contract (0xce16... D666) The architecture is different, but unaffected; Squid user funds, authorization, and integration are all completely secure. Early public reports or the mention of "SquidRouter" in the contract verification name on Basescan should accurately state: a third-party SquidRouterModule was attacked, not Squid's Router contract. The contract name is the same as Squid, but not the Squid code. Squid is continuously monitoring the situation and will update information if there are any major changes.

According to ChainCatcher and Arkham monitoring, addresses starting with 0x158 bought 2,000 ETH at $0.31 per ETH during the Ethereum presale, with a total cost of about $620, and after holding for over 10 years, transferred it out 5 minutes ago. At the current price, this ETH is worth about $4.2 million, representing a 6,800-fold increase.

Odaily Planet Daily reports that according to Arkham monitoring, an address has held the Ethereum presale for over 10 years after purchasing 2,000 ETH at $0.31, and completed the transfer within 5 minutes. As of today, the value of this position has risen from $620 to $4.2 million, representing a return of about 6,800 times.