Morning Minute: Trump Hints That Iran Deal May Be Close, Markets Rebound
Donald Trump indicated a potential U.S.-Iran peace deal is nearly complete, prompting oil prices to fall sharply—Brent crude dropped 7% to $96 and WTI over 6% to $90. JPMorgan predicts Brent could fall to $60 if tensions ease further, which might also revive U.S. interest rate cut discussions. Meanwhile, crypto markets rebounded over the Memorial Day weekend; Bitcoin rose to $77,300, ETH hit $2,128, and HYPE reached $61.25. NEAR and WLD saw significant weekly gains. However, Trump’s optimistic statements on the Iran conflict have reversed before, and recent U.S. strikes could undermine progress. The SEC reversed its tentative support for third-party tokenized stocks following industry pushback, clarifying that only issuer-backed tokenization has regulatory backing for now. U.S. spot Bitcoin and ETH ETFs faced significant outflows, while new HYPE and XRP funds saw positive inflows due to specific underlying catalysts, including expected regulatory clarity for XRP. Separately, AI startup Joi AI is offering $2,000 per month to “masturbation consultants” for research on its AI wellness app—reflecting broader trends toward AI in personal wellness products.
