U.S. President Donald Trump said Iran's government is in a "state of collapse" and has asked for the Strait of Hormuz to be reopened immediately. The remarks point to a diplomatic shift as Tehran reportedly tries to contain a leadership crisis while the blockade continues to squeeze flows through a route that carries about 20% of the world's oil supply. Trump said reopening the strait is a priority as Iran's administration moves to reorganize its domestic governance structure. Based on past patterns, Iran is expected to issue a statement soon.

CoinDesk reports that Iran's deputy defense minister said post-conflict shipping through the Strait of Hormuz will proceed under procedures set by the Islamic Republic. Authorities expect traffic to normalize on May 15. Market pricing indicates 59.5% "Yes," up 20% from a day earlier. After the statement, the asset gained 40 points over 24 hours as traders read the comments as a sign of a managed reopening during the 2026 Hormuz Strait crisis. Gen. Michael Kurilla and other key participants remain involved in negotiations. Liquidity conditions show $36,459 in daily volume (USDC-denominated). A 5-point move requires $4,658, pointing to steady order flow. The latest notable move came at 3:48 PM with a 2-point spike, underscoring sensitivity to headlines. The key issue is definition: Iran's reference to an "Islamic Republic Agreement" implies any reopening would be on Iran's terms rather than a return to pre-crisis conditions. Whether regulated passage satisfies the contract depends on how the market's resolution criteria define "ordinary" traffic restoration. Traders are watching two primary catalysts: an end to the U.S. blockade and confirmation that mine clearance has been completed. Updates from U.S. Central Command and statements from Iran's Ministry of Foreign Affairs are likely to shape expectations for whether the May 15 timeline is achievable. Contract snapshot: "Yes" at 60 cents; pays $1 if resolved; 1.67x back. API access available.

T. Rowe Price is preparing to launch $TKNZ, an actively managed crypto ETF expected to hold a rotating portfolio of 515 cryptocurrencies. The basket would include major tokens such as $BTC, $ETH, $SOL, $XRP, $DOGE and $SHIB.

Odaily Planet Daily reports that msx.com data show U.S. stocks opened mixed: the Dow Jones Industrial Average rose 0.21%, the S&P 500 fell 0.51%, and the Nasdaq Composite dropped 1.07%. Most crypto-related equities weakened, with Strategy (MSTR) down 3.36%, Coinbase down 2.89%, Bitmine down 2.51%, Circle down 1.61%, and SharpLink down 1.39%. Solana bucked the trend, gaining 1.42%. MSX.com is a decentralized RWA trading platform offering hundreds of RWA tokens, including those backed by U.S. equities such as AAPL, AMZN, GOOGL, META, MSFT, NFLX, and NVDA, as well as ETFs.

Market snapshot (as of April 28, 2026): Crypto headlines today span heavy corporate accumulation, an industry-led DeFi recovery effort, and tighter regulation across North America. BitMine ramps up ETH buying despite $6.5B paper loss BitMine Immersion Technologies kept adding to its Ethereum position even as volatility widened its unrealized losses. The company bought 101,901 ETH last week, lifting total holdings to about 5.08 million ETH. A week earlier it acquired 101,627 ETH, making this its largest accumulation stretch since December 2025. BitMine reports roughly $13.3 billion in combined crypto and cash reserves against about $17.6 billion in total investments, implying unrealized losses exceeding $6.5 billion. The Tom Lee-backed firm is also leaning on staking income: nearly 3.7 million ETH has been staked to earn validation rewards, providing recurring yield that can help cushion downturns. DeFi coalition lines up 30,000 ETH after $290M rsETH exploit DeFi participants are working to steady rsETH after an exploit tied to a Kelp DAO bridge on April 18. The incident saw about 116,500 rsETH stolen, valued near $290 million. Consensys and Ethereum co-founder Joe Lubin, together with DeFi United, have committed up to 30,000 ETH to support recovery and rebuild confidence. Announced April 23, the effort includes parties connected to Aave DAO, with additional participation cited from Lido, Ethena, EtherFi, Frax, and Mantle. The group's stated aim is to stabilize liquidity and restore rsETH backing. Governance approvals remain in progress across several protocols, while Sharplink, a publicly traded Ethereum treasury firm, is advising on recovery structure and coordination. Tennessee bans crypto ATMs and kiosks starting July 1, 2026 Tennessee Governor Bill Lee signed House Bill 2505, prohibiting cryptocurrency ATMs and kiosks effective July 1, 2026. The law makes installation a Class A misdemeanor, carrying up to 11 months and 29 days in jail and fines up to $2,500. The ban affects more than 570 kiosks operating statewide, including machines run by CoinFlip and Bitcoin Depot. Lawmakers framed the move as fraud prevention. House Speaker Cameron Sexton said the kiosks have increasingly been used to target vulnerable groups, especially older residents. Similar actions are appearing elsewhere, including a local ban in Massachusetts and proposed statewide restrictions in Minnesota. Canada advances bill barring crypto political donations Canada is also moving to tighten rules around cryptocurrency in political finance. Bill C25, introduced March 26, 2026, cleared its second reading in the House of Commons. The proposal would ban political parties and candidates from accepting cryptocurrency donations, citing traceability concerns and enforcement challenges in campaign finance. Supporters say the measure is intended to strengthen electoral integrity, improve transparency, and curb risks tied to foreign influence. The bill now heads to committee review for detailed study and possible amendments; no timeline has been set. Disclaimer: This content is for informational purposes only and is not financial advice. Opinions expressed may be those of the author and do not necessarily reflect The Crypto Basic's views. Readers should conduct their own research before investing. The Crypto Basic is not responsible for any financial losses.

U.S. equities closed mixed, with the Dow Jones Industrial Average up 0.22%, while the S&P 500 slipped 0.52% and the Nasdaq Composite dropped 1.18%. Chipmakers led declines after reports said OpenAI missed its revenue and user targets, pressuring NVIDIA (NVDA.O), down 3.5%, and AMD (AMD.O), down 6%. The iShares Semiconductor ETF fell 4%. Oracle (ORCL.N) declined 5.9%.

BlockBeats reported on April 28 that the United Arab Emirates said it will withdraw from OPEC and the OPEC+ alliance effective May 1. Nordic Bank analyst Jan von Gerich said the UAE is looking to ramp up oil output, a shift he expects to weigh on prices. He added that once the Iran conflict ends, OPEC may no longer be able to steer oil prices the way it has in the past. Monica Malik, chief economist at Abu Dhabi Commercial Bank, said the decision positions the UAE to gain global market share as geopolitical tensions ease, and could ultimately support consumers and the wider global economy. (Jinshi)

Galaxy Digital reported a net loss of $216 million in the first quarter of 2026, citing a roughly 20% drop in digital asset prices as the main driver. Total assets were about $10 billion, including $2.8 billion of equity and $2.6 billion in cash and stablecoins. The company said its Helios data center in Texas has delivered its first data hall to CoreWeave, signaling a shift to revenue-generating operations. Data center revenue is expected to begin ramping in Q2 2026. Assets under management were approximately $5 billion.

Crypto derivatives exchange Liquid has closed an $18 million Series A financing, Fortune reported. The round was co-led by Neo and Left Lane Capital, with participation from Haun Ventures, K5 Global, SV Angel, AntiFund, and Sunflower Capital. The raise comes less than six months after Liquid's $7.6 million seed round led by Paradigm.