24H Hot Coins & Headlines | Trump Directs Aides to Prepare for Long-Term Blockade of Iran; U.S. Treasury Secretary Says Cracked Down on Iran's Crypto Channels (April 29)
- Key Takeaways: This edition covers crypto market price movements, escalating geopolitical tensions between the US and Iran (involving Iranian oil exports and crypto sanctions), OPEC member UAE's announcement of withdrawal, and multiple industry developments such as Binance adjusting leverage, Tether developing mining facilities, pumpfun's massive token burn, and Israel approving its first fiat-pegged stablecoin.
- Key Elements:
- Market Data: Top 10 CEX trading pairs mostly declined (BTC -1.10%), OKX 24-hour top gainer was J Coin (+58.60%), popular on-chain Memes include SCAM, BEE, etc.
- Geopolitics: Trump directs preparations for a long-term blockade of Iran; U.S. Treasury claims to have disrupted Iran's crypto channels; Iranian Army states it is fully prepared; UAE announces withdrawal from OPEC+.
- pumpfun: Has burned approximately $370 million worth of PUMP tokens (36% of circulating supply) and commits to using 50% of future revenue for buybacks and burns over the next year.
- Regulatory Developments: Israel approves the issuance of BILS, its first regulated stablecoin pegged to the Shekel, aimed at safeguarding digital sovereignty.
- CFTC: Plans to utilize AI to review crypto market registration applications and enhance market surveillance, addressing manpower gaps caused by federal layoffs.
1. Popular CEX Tokens
Top 10 CEX Trading Volume & 24h Change:
- BTC: -1.10%
- ETH: -0.80%
- SOL: -0.69%
- DOGE: +0.41%
- XRP: -1.39%
- BNB: -0.46%
- CHIP: -13.15%
- TRX: -0.80%
- ZEC: -4.71%
- PENGU: -3.00%
24h Gainers (Data from OKX):
- J: +58.60%
- BIO: +22.58%
- API3: +18.17%
- DORA: +13.44%
- OL: +12.08%
- FLOW: +11.14%
- LIT: +9.32%
- ACH: +8.77%
- LRC: +8.25%
- APE: +7.65%
24h Crypto-Equity Gainers (Data from msx.com):
- SIMO: 24.03%
- QNTM: 21.12%
- STX: 15.26%
- BBAI: 12.87%
- VVPR: 11.23%
- GAME: 9.69%
- BE: 8.23%
- FFAI: 7.7%
- SOXS: 7.48%
- WDC: 6.93%
2. Top 5 On-Chain Meme Tokens (Data from GMGN):
- SCAM
- BEE
- LUCA
- ewon
- MOGMAN
Headlines
WSJ: Trump Instructs Aides to Prepare for Long-Term Blockade of Iran
According to the Wall Street Journal, U.S. President Donald Trump has instructed his aides to prepare for a long-term blockade of Iran.
Trump has chosen to continue pressuring Iran's economy and oil exports by blocking ships entering and leaving Iranian ports. He assesses that other options — resuming bombing or withdrawing from the conflict — carry greater risks than maintaining the blockade.
U.S. Treasury Secretary: Actions Taken Against Iran's Crypto Usage Channels
U.S. Treasury Secretary Scott Bessent stated that the Treasury Department has used economic sanctions to target Iran's international shadow banking infrastructure, cryptocurrency access channels, shadow fleet, weapons procurement network, regional terrorist proxy funding, and Chinese independent refineries supporting Iran's oil trade. These actions have disrupted tens of billions of dollars in revenue that could have funded terrorism. Under the President's maximum pressure campaign, Tehran's inflation rate has doubled, and its currency has rapidly depreciated. Iran's main oil export terminal, Kharg Island, is nearing its storage capacity limit, which will force the regime to cut oil production, resulting in an additional daily loss of approximately $170 million in revenue and causing permanent damage to Iran's oil infrastructure. The Treasury will continue to apply maximum pressure, and any individuals, vessels, or entities assisting Tehran's illicit flows face the risk of U.S. sanctions.
Iranian Army Spokesman: War Not Over, Troops on High Alert
Iran's Tasnim News Agency reported on the 28th, quoting Iranian Army Spokesman Mohammad Akraminia, who stated that the military considers the current situation as a state of war, with ground forces deployed nationwide and on high alert to counter threats. He indicated that Iran has completed a comprehensive update of its target list and combat equipment, and all units are fully prepared to respond to potential enemy military attacks.
UAE Announces Withdrawal from OPEC and OPEC+, Trump May Be the 'Biggest Winner'
The UAE announced on Tuesday its withdrawal from OPEC and OPEC+ effective May 1st, dealing a heavy blow to the organization and its de facto leader, Saudi Arabia, amid the historic energy shock caused by the Iran war that is destabilizing the global economy. The UAE's unexpected exit as a long-time OPEC member could plunge the group into chaos and weaken its influence — although OPEC usually strives to present a unified front despite internal divisions on issues ranging from geopolitics to production quotas. This could be a significant victory for U.S. President Donald Trump, who has accused the organization of "blackmailing the rest of the world" by keeping oil prices high. Trump has also linked U.S. military support in the Gulf region to oil prices, stating that while America defends OPEC members, they take advantage of this by setting high prices. The UAE, a regional commercial hub and one of Washington's most important allies, had previously criticized other Arab nations for failing to take sufficient measures to protect it from repeated Iranian attacks during the war.
Industry News
Binance to Adjust Multi-Asset Collateral Rates and Contract Leverage in May 2026
According to an official announcement, Binance will update the collateral rates for assets like STX and APT under the Portfolio Margin (PM) program, and the tiered collateral rates for PM Pro, starting at 06:00 UTC on May 1, 2026 (14:00 Beijing time). The adjustment is expected to take approximately 30 minutes. Concurrently, Binance Futures will adjust the leverage and margin tiers for several USDⓈ-M perpetual contracts, including ZENUSDT and EIGENUSDT, at 06:30 UTC (14:30 Beijing time), taking about 1 hour.
Elon Musk Arrives at California Court for Opening Statement in Lawsuit Against OpenAI
Yesterday, Elon Musk arrived at the U.S. District Court in Oakland, California, to deliver an opening statement in his lawsuit against OpenAI.
According to official sources, Tether is expanding its custom computing infrastructure through a new type of modular, high-density mining system designed to improve efficiency and performance for large-scale operations. In partnership with Canaan Inc. and ACME Swisstech, Tether is building systems around application-specific hash board modules, integrating them into proprietary control architecture, thermal management systems, and software stacks.
Data: Stablecoin Inflows on Binance Exceeded $6 Billion Over Past Two Months
According to Cryptoquant data, total stablecoin inflows on the Binance platform have exceeded $6 billion over the past two months.
Crypto Hackers Have Stolen $17.1 Billion in Assets Over the Past Decade
Total cumulative losses over the past decade (2016–2026) amount to $17.1 billion across 518 incidents; over the past five years (2021–2026), approximately $15.2 billion lost across over 450 incidents; over the past year (April 2025 – April 2026), approximately $2.5 billion lost across over 140 incidents. Recent losses indicate that crypto attacks have shifted from smart contract vulnerabilities to private key leaks and access control issues.
Project News
Robinhood Q1 Revenue $1.07 Billion, Crypto Trading Revenue Down 47% YoY
Robinhood's Q1 2026 financial report shows quarterly revenue of $1.07 billion, up 15% year-over-year. Net profit increased 3% to $346 million. Total platform assets reached $307 billion, up 39% YoY. Cryptocurrency business revenue was $134 million, down 47% YoY. Nominal crypto trading volume was $24 billion, down 48% YoY. Options business revenue grew 8% to $260 million, while stock business revenue increased 46% to $82 million. Robinhood Gold subscription revenue rose 32% to $50 million. Additionally, the company repurchased $250 million in shares this quarter.
Over Protocol Announces Shutdown of Operations and Related Infrastructure
The Over Foundation announced it is ceasing operations of Over Protocol due to financial constraints. It has shut down all infrastructure and services, including OverWallet, OverNode, OverFlex, RPC endpoints, block explorer, and API, with no plans for restoration. While Over Protocol was designed as a decentralized Layer 1 mainnet, the network will likely become inoperable in practice following the foundation's service cessation. The continued production of blocks will depend on independent validators running the open-source client software.
pumpfun founder alon stated that over the past approximately 9 months, PUMP has allocated 100% of revenue to buybacks. Today, approximately $370 million worth of PUMP was burned, representing 36% of the circulating supply. Additionally, PUMP commits to allocating 50% of its revenue over the next year for programmatic buyback and burning, with the remaining 50% directed towards business growth, product development, infrastructure building, and ecosystem reinvestment. Alon stated this move aims to enhance community trust and ensure long-term business growth.
Polymarket Plans to Bring Primary Exchange to the US, Pending CFTC Approval
Polymarket plans to bring its primary exchange to the United States, pending approval from the CFTC.
Funding & Investments
Despite Acquisition Being Scrapped, Manus Investors Have Received Returns
According to sources familiar with the matter, despite the Manus acquisition being called off, investors in Manus, including venture capital firm Benchmark, have received their returns. (WSJ)
Previously, the Office of the Working Mechanism for the Security Review of Foreign Investments (National Development and Reform Commission) made a decision to prohibit the investment in the foreign acquisition of the Manus project in accordance with laws and regulations, requiring the parties involved to rescind the acquisition transaction.
Regulatory Developments
Israel Approves First Regulated Stablecoin Pegged to the Shekel
Israel's Capital Market Authority has approved Bits of Gold to issue BILS, the country's first stablecoin pegged to the shekel. The token is a regulated asset launched by Bits of Gold following a two-year evaluation and pilot program, supported by the Solana network, Fireblocks, and Ernst & Young. Bits of Gold stated that bringing the shekel on-chain aims to align it with currencies like the Euro, Japanese Yen, and Singapore Dollar that have already entered the blockchain financial system. With the stablecoin market size now exceeding $300 billion, this issuance aims to counter the dominance of dollar-pegged tokens in on-chain payments and safeguard digital sovereignty.
Voices / Commentary
CFTC Chairman Mike Selig stated in an interview that the CFTC is building tools to use AI for reviewing US crypto market registration applications and monitoring trades. Mike Selig noted that due to federal government layoffs reducing the agency's workforce by over a fifth, AI and automation technologies will be used to fill the personnel gap and improve document review efficiency. Staff are currently undergoing Microsoft Copilot training, and the agency is also developing internal tools for reviewing swaps data and market surveillance.
Furthermore, Mike Selig stated that the digital asset classification guide jointly released by the CFTC and SEC is the most significant measure during his tenure, aimed at providing regulatory clarity for market participants. Regarding prediction markets, Mike Selig reiterated the CFTC's exclusive jurisdiction and emphasized that strict enforcement actions will be taken against violations such as insider trading.
