The United States is “not looking for a fight” over the Strait of Hormuz, and its ceasefire with Iran still holds, but any attack on commercial shipping will be met with a “devastating” response, the Pentagon chief said on Tuesday. The warning from Pete Hegseth came on the second day of a US effort, dubbed ‘Project Freedom’, to facilitate the transit of commercial ships through the Strait of Hormuz, which Iran had closed in response to the US-Israeli war on the Islamic republic. “We’re not looking for a fight. But Iran also cannot be allowed to block innocent countries and their goods from an international waterway,” Hegseth told reporters. “If you attack American troops or innocent commercial shipping, you will face overwhelming and devastating American firepower.” US Chairman of the Joint Chiefs of Staff Gen Dan Caine addresses reporters at the Pentagon on May 5, 2026. — AFP The Pentagon chief added that Washington is promising security for commercial vessels with a “red, white and blue dome” over the Strai...
Bitcoin faced new volatility and a new struggle to reclaim $80,000 as Iran events added pressure to crypto and risk assets. Bitcoin (BTC) saw volatility at Monday’s Wall Street open as fresh US-Iran war events sparked instability. Key points: Read more
US President Donald Trump said on Monday that his representatives were having “very positive discussions” with Iran that could “lead to something very positive for all”. He made these remarks in a Truth Social Post, also announcing an initiative to guide vessels stuck in the Strait of Hormuz out of the waterway, hours after Tehran said on Sunday that the United States had responded to its 14-point proposal via Pakistan. Iranian state media quoted a foreign ministry spokesperson as saying that Tehran was reviewing the response. Later, US Special Envoy on Middle East Steve Witkoff told CNN the US was “in conversation” with Iran as they weighed negotiations to end the war. This was followed by Trump’s post on Truth Social, where he said: “I am fully aware that my Representatives are having very positive discussions with the Country of Iran, and that these discussions could lead to something very positive for all.” He also said that countries from across the world, “almost all of which are not involved in the Mid...
Nobitex, Iran’s largest crypto exchange, was founded by brothers linked to the powerful Kharrazi family, which has ties to the country’s supreme leaders. Nobitex, Iran’s biggest crypto exchange, was founded by two brothers from one of the Islamic Republic’s most influential families with ties to the supreme leaders, according to a Reuters investigation. The exchange, which now accounts for the majority share of Iran’s crypto activity, was launched by Ali and Mohammad Kharrazi. The duo operated under the alternative surname “Aghamir,” which they used across corporate records and professional life, masking links to the Kharrazi dynasty, according to the report. The Kharrazi family has long occupied positions close to the country’s leadership, with ties spanning generations of power, including links to Ali Khamenei and his successor Mojtaba Khamenei. Read more
WASHINGTON: A man stands atop the Frederick Douglass Memorial Bridge on Saturday to protest the US-Israeli war on Iran. Guido Reichstadter climbed the bridge in Washington on May Day, stayed there overnight, and posted a sunrise photo from one of the bridge’s arches while calling for an end to the war on Iran. Speaking to the media from atop the 51-metre structure, the 45-year-old father of two called for peaceful means to build pressure on the authorities to end what he described as an ‘illegal war’.—Reuters • Iranian military warns renewed hostilities with Washington ‘likely’ • Trump boasts of Hormuz blockade, says ‘we are like pirates’ • Tehran reaches out to Qatar, South Korea to discuss ongoing negotiations • Israeli strikes in Lebanon kill over 12 people, injure dozens; Lebanese army chief meets US general TEHRAN/BEIRUT: Amid a surge in deadly strikes by Israeli forces in southern Lebanon and little headway in talks between the US and Iran, an Iranian military official warned against the ‘likely’ resump...