Circle urged the OCC to finalize clear, consistently applied GENIUS Act rules 
for payment stablecoin issuers. The company said the proposed framework should 
support reliable redemption and strong risk controls for regulated digital 
payment instruments. Circle Backs National Stablecoin Licensing Standards 
Circle Internet Group (NYSE: CRCL) revealed May 5 that it had submitted 
comments on […]

Circle Urges OCC to Finalize Strong GENIUS Act Stablecoin Rules

Bitcoin pushed above $82,000 on Wednesday as markets rallied around fresh 
hopes that the US and Iran are moving closer to a framework agreement that 
could cool the conflict and ease pressure on global energy markets. The move 
extended Bitcoin’s recovery from its early-February low near $60,000, putting 
the asset up more than 36% from that level. It also added weight to a 
technical shift that began in late April, when BTC broke above a major 
downtrend line that had capped price action since the October 6 all-time high 
at $126,199. After confirming the breakout with a successful retest, Bitcoin 
has climbed roughly 10% over the past seven days. Deal Hopes Trigger Risk-On 
Bid For Bitcoin The latest catalyst came from an Axios report saying the White 
House believes it is close to an agreement with Iran on a one-page memorandum 
of understanding designed to end the war and establish a framework for more 
detailed nuclear negotiations. Axios reported that the US expects Iranian 
responses on several key points within 48 hours, while cautioning that 
“nothing has been agreed yet.” Related Reading: Bitcoin Breaks $80,000, But 
On-Chain Activity Signals A Silent Warning According to the report, the draft 
memorandum includes 14 points and is being negotiated by Trump envoys Steve 
Witkoff and Jared Kushner with Iranian officials, both directly and through 
mediators. In its current form, the MOU would declare an end to the regional 
war and start a 30-day negotiation window on a broader agreement covering the 
Strait of Hormuz, Iran’s nuclear program and US sanctions. That distinction 
matters for markets. This is not yet a final peace agreement, and officials 
cited by Axios warned that Iran’s leadership remains divided. But for 
investors, even a credible path toward de-escalation was enough to reprice 
risk assets sharply. Related Reading: Bitcoin Seasonality Flashes Bullish May 
Signal After Two Green Months Secretary of State Marco Rubio framed the 
process as incomplete but potentially actionable. “We don’t have to have the 
actual agreement written in one day. This is highly complex and technical.” 
Rubio added that Washington needed a diplomatic solution clear enough on “the 
topics they are willing to negotiate on” and the concessions available at the 
outset. The crypto rally arrived alongside a broader macro move. Crude oil 
fell sharply as traders priced in the possibility that restrictions around 
global energy flows could ease if the US-Iran framework progresses. WTI crude 
fell to $94.32, while Brent went down 6.7% to $102.56. Equity futures also 
strengthened. US stock index futures extended gains after the Axios report, 
Nasdaq 100 futures were up 1.26% and S&amp;P 500 up 0.81% in pre-market trading. 
For Bitcoin, the setup was unusually direct: lower geopolitical risk, falling 
oil, stronger tech-led equity futures and renewed appetite for high-beta 
assets. Crypto moved as part of that broader risk-on rotation rather than as 
an isolated digital-asset event. UPDATE: The Kobeissi Letter (@KobeissiLetter) 
reports via X that &#8220;US oil prices are experiencing a sharp reversal, now up 
+8% in 60 minutes, as doubts grow over an Axios-reported potential deal to end 
the Iran War,&#8221; adding that &#8220;tis comes as Iran has launched a new website 
called the &#8216;Persian Gulf Strait Authority.&#8217; At press time, BTC traded at 
$82,149. Featured image created with DALL.E, chart from TradingView.com

Bitcoin Jumps Above $82,000 As US-Iran Deal Hopes Lift Markets

Fairshake has spent $28 million in 2026 primaries as a new poll shows most 
Americans distrust crypto and AI, raising questions about the political value 
of industry-backed super PAC money. Fairshake, the pro-crypto super PAC backed 
by Coinbase, Andreessen Horowitz,…

Fairshake defends midterm spending as voter trust crashes

Bitcoin is trading just above the $81,000 level as the market waits to see 
whether the next move will push higher or pull back. Against that backdrop, 
Matthew Siegel, head of digital asset research at VanEck, reiterated his 
bullish view on the leading cryptocurrency. In a Wednesday interview with 
CNBC, Siegel again pointed to a dramatic upside scenario, saying he expects 
Bitcoin to potentially reach $1,000,000 within the next five years. Why 
Bitcoin May Persist Siegel compared Bitcoin’s staying power to a familiar arc 
from the tech world. “It’s going to be like the video game industry.” In the 
same spirit, Siegel argued that investors do not simply abandon Bitcoin and 
move on. “People don’t quit; they also don’t quit Bitcoin.” He added that the 
market is also being shaped by a larger structural shift, noting that the 
first central bank has begun buying Bitcoin for its reserves, which he called 
a “mega trend,” even if it will be “very volatile along the way.” Related 
Reading: Ripple CEO Warns: If CLARITY Act Markup Slips, Chances Fall 
‘Precipitously’ Siegel also pointed to specific market conditions that he 
believes are helping support the current momentum. One factor is Bitcoin’s 
relationship with broader risk assets—particularly technology stocks. He said 
Bitcoin’s correlation with the Nasdaq has risen to a five-year high, helping 
explain why recent gains have appeared alongside a wider macro move. In other 
words, rather than Bitcoin moving in isolation, it has been trading more like 
a high-beta asset tied to technology-heavy indices. Another part of his 
argument focuses on the derivatives market. Siegel said he sees an absence of 
froth in derivatives, which he interprets as a sign that the rally is being 
driven more by short covering than by speculative overexuberance. Near $3 
Million By 2050? VanEck’s research head has also made an even longer-term 
projection earlier this year, suggesting Bitcoin could climb to as much as 
$2.9 million per coin by 2050. That estimate, Siegel implied, is tied to a 
valuation framework based on Bitcoin’s potential role across two major 
markets: as a medium of exchange (MoE) and as a reserve asset for central 
banks. Related Reading: Strategy Reports Q1 Results: Over $12 Billion In Red 
Ink—Here Are The Key Figures Looking ahead to 2050, he predicted that Bitcoin 
would settle between 5% and 10% of global international trade, while also 
accounting for 5% of domestic trade transactions. Siegel further explained 
that, under a scenario where Bitcoin captures 20% of international trade and 
10% of Gross Domestic Product (GDP), the model could produce an extremely high 
implied value—he said it could rise to $53.4 million per coin. Featured image 
created with OpenArt, chart from TradingView.com

VanEck Forecast: Bitcoin Could Climb To $1,000,000 By 2031, Research Head Says

The rise of Fujairah and Khor Fakkan as trade hubs underscores shifting 
geopolitical dynamics, potentially altering regional power balances.
The post Fujairah and Khor Fakkan become UAE trade hubs amid Iran tensions 
appeared first on Crypto Briefing.

Fujairah and Khor Fakkan become UAE trade hubs amid Iran tensions

Erik Reppel said at Consensus Miami 2026 that AI agents bypass internet ads 
entirely, threatening the web&#8217;s core business model and pointing to x402 
stablecoin micropayments as the structural replacement. Coinbase Developer 
Platform head and x402 founder Erik Reppel took…

Circle Urges OCC to Finalize Strong GENIUS Act Stablecoin Rules

Comments