24H Hot Coins & Headlines | Trump Instructs Aides to Prepare for a Long-term Blockade of Iran; US Treasury Secretary Says Channels for Iran's Cryptocurrency Use Have Been Targeted (April 29)
- Key Points: This edition covers cryptocurrency market gains/losses data, escalating US-Iran geopolitical tensions (involving Iran's oil exports and crypto sanctions), the announcement of OPEC member UAE's withdrawal, and various industry developments such as Binance adjusting leverage, Tether developing mining facilities, a massive token burn by pump.fun, and Israel approving its first fiat-pegged stablecoin.
- Key Elements:
- Market Data: Top 10 CEX trading volume coins mostly declined (BTC -1.10%), the top gainer on OKX over 24 hours was the J coin (+58.60%), and trending on-chain Memes include SCAM, BEE, etc.
- Geopolitics: Trump instructs a long-term blockade against Iran, US Treasury says it has targeted Iran's crypto channels, Iran's army states it is on high alert, UAE announces withdrawal from OPEC+.
- pump.fun: Has burned approximately $370 million worth of PUMP tokens (36% of circulating supply) and pledged to use 50% of revenue for buybacks and burns over the next year.
- Regulatory Updates: Israel approves the issuance of BILS, its first regulated stablecoin pegged to the Shekel, aiming to safeguard digital sovereignty.
- CFTC: Plans to use AI to review crypto market registration applications and enhance market surveillance, to address staffing gaps caused by federal layoffs.
1. CEX Hot Coins
CEX Top 10 by Trading Volume and 24-hour 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%
24-hour Gainers (Data Source: 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%
24-hour Crypto-Stock Gainers (Data Source: 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 Coins (Data Source: GMGN):
- SCAM
- BEE
- LUCA
- ewon
- MOGMAN
Headlines
WSJ: Trump Instructs Aides to Prepare for Extended Blockade of Iran
According to the Wall Street Journal, US President Donald Trump has instructed his aides to prepare for an extended blockade of Iran.
Trump has chosen to continue pressuring Iran's economy and oil exports by blocking ships from entering and leaving Iranian ports. He assesses that other options—such as resuming bombing or withdrawing from the conflict—carry greater risks than maintaining the blockade.
US Treasury Secretary: Cracked Down on Iranian Crypto Access Channels
US Treasury Secretary Scott Bessent stated that the Treasury Department has taken action through economic sanctions against Iran's international shadow banking infrastructure, cryptocurrency access channels, shadow fleet, weapons procurement networks, 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 been used to fund terrorism. Under the US 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 Department will continue to apply maximum pressure; any individual, vessel, or entity assisting Tehran's illicit flows risks US sanctions.
Iran Army Spokesperson: War Not Over, Military on High Alert
Iran's Tasnim News Agency reported on the 28th, quoting Iranian Army Spokesperson Mohammad Akraminia, stating that the military considers the situation to still be in a state of war. Ground forces have been deployed across the country, standing ready to counter threats. He stated that Iran has completed a comprehensive update of its target list and combat equipment, and all units are fully prepared to respond to potential military attacks from the enemy.
UAE Announces Withdrawal from OPEC and OPEC+, Trump Could Be the 'Biggest Winner'
The UAE announced on Tuesday its withdrawal from OPEC and OPEC+ effective May 1st. This is a heavy blow to the organization and its de facto leader, Saudi Arabia, especially against the backdrop of the Iran war already causing historic energy shocks and shaking the global economy. The UAE, a long-standing OPEC member, made this surprising announcement, which could throw the organization into chaos and weaken its influence. OPEC usually strives to present a united front despite internal disagreements on issues ranging from geopolitics to production quotas. This move could be a significant victory for US President Donald Trump, who has previously accused the organization of "blackmailing the rest of the world" by inflating oil prices. Trump has also linked US military support for the Gulf region to oil prices, stating that while the US protects OPEC members, they take advantage of this by setting high oil prices. The UAE is a regional commercial hub and one of Washington's most important allies. This move follows the UAE's criticism of other Arab nations for not taking 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) and the tiered collateral rates for PMPro on May 1, 2026, at 06:00 UTC. The adjustment is expected to take approximately 30 minutes. Simultaneously, Binance Futures will adjust the leverage and margin tiers for several USDⓈ-M perpetual contracts, such as ZENUSDT and EIGENUSDT, on the same day at 06:30 UTC, with the adjustment expected to take about 1 hour.
Elon Musk Arrives at California Court for Opening Statement in Lawsuit Against OpenAI
Yesterday, Elon Musk arrived at the federal court in Oakland, California, to deliver his 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 aimed at improving 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 with proprietary control architectures, thermal management systems, and software stacks.
Data: Stablecoin Inflows on Binance Exceed $6 Billion Over the Past Two Months
According to Cryptoquant data, 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
Over the past decade (2016-2026), cumulative losses amount to $17.1 billion across 518 incidents. In the past five years (2021-2026), losses were approximately $15.2 billion across over 450 incidents. In the past year (April 2025 – April 2026), losses were approximately $2.5 billion across over 140 incidents. Recent losses indicate that crypto attacks have shifted from smart contract vulnerabilities to private key leaks and access control exploits.
Project News
Robinhood Q1 Revenue $1.07 Billion, Crypto Trading Revenue Down 47% YoY
Robinhood's Q1 2026 earnings 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, a 47% decrease YoY. Nominal crypto trading volume was $24 billion, down 48% YoY. Options business revenue grew 8% to $260 million, while equity business revenue grew 46% to $82 million. Robinhood Gold subscription revenue increased 32% to $50 million. Additionally, the company repurchased $250 million in stock this quarter.
Over Protocol Announces Shutdown and Ceases 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, the block explorer, and APIs, with no plans for recovery. Although Over Protocol was designed as a decentralized Layer 1 mainnet, its continued operation is practically impossible following the Foundation's service termination. Block production will depend entirely on independent validators running open-source client software.
pumpfun: Burned ~$370 Million PUMP, Commits 50% of Future Year Revenue to Buyback and Burn
pumpfun founder Alon stated that over the past ~9 months, PUMP allocated 100% of its revenue to buybacks. Today, approximately $370 million worth of PUMP was burned, representing 36% of the circulating supply. Furthermore, PUMP commits to allocating 50% of its revenue for the next year to programmatic buybacks and burns, while the other 50% will be reinvested in 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 Main Exchange to US, Awaits CFTC Approval
Polymarket plans to bring its main exchange to the United States, pending approval from the CFTC.
Investment & Financing
Despite Acquisition Being Scrapped, Manus Investors Have Received Returns
According to sources familiar with the matter, despite the scrapped acquisition of Manus, its investors, including venture capital firm Benchmark, have already received their returns. (WSJ)
Previously, the Foreign Investment Security Review Working Mechanism Office (National Development and Reform Commission) made a decision to prohibit the foreign acquisition of the Manus project in accordance with laws and regulations, requiring the parties involved to cancel 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 the country's first stablecoin pegged to the Shekel, named BILS. This token is a regulated asset launched by Bits of Gold with support from the Solana network, Fireblocks, and Ernst & Young, following a two-year evaluation and pilot phase. Bits of Gold stated that bringing the Shekel on-chain aims to place it alongside currencies like the Euro, Japanese Yen, and Singapore Dollar that have already entered the blockchain financial system. As the stablecoin market now exceeds $300 billion, this issuance aims to counter the dominance of dollar-pegged tokens in on-chain payments and safeguard digital sovereignty.
Voices
CFTC Chair Mike Selig stated in an interview that the CFTC is building tools to leverage AI for reviewing US crypto market registration applications and monitoring transactions. Chair Selig noted that due to federal layoffs reducing the agency's workforce by over one-fifth, AI and automation technologies will be used to fill the manpower gap and improve document review efficiency. Staff are currently undergoing training on Microsoft Copilot, and the agency is also developing internal tools for reviewing swaps data and market surveillance.
Additionally, Chair Selig stated that the digital asset classification guide jointly released by the CFTC and the SEC is the most important initiative during his tenure, aimed at providing regulatory clarity for market participants. Regarding prediction markets, Chair Selig reiterated the CFTC's exclusive jurisdiction and emphasized strict enforcement actions against violations such as insider trading.
