On May 25, during the early Asian trading session on Monday, both US and Brent crude oil prices fell to two-week lows due to market optimism that the US and Iran are nearing a peace agreement, despite ongoing disagreements on key issues including the blockade of the Strait of Hormuz. US President Trump stated on Saturday that Washington and Tehran have 'essentially agreed' on a memorandum of understanding for a peace agreement that would reopen the Strait of Hormuz. However, there are still significant differences on several contentious issues, and Trump indicated on Sunday that he has instructed his representatives not to rush into any agreement with Iran. Saul Kavonic, an energy analyst at MST Marquee in Sydney, noted, 'Although there are still many uncertainties and risks surrounding the peace agreement and the Strait of Hormuz, there are signs of hope, which will bring some relief to short-term oil prices.' However, analysts expect that normal oil transportation through the strait and the repair of damaged oil and gas facilities will take several months.
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Analyst: Signs of Hope in US-Iran Talks, Short-term Relief for Oil Prices
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Central Bank's Open Market Operations Net Withdrawal of 243 Billion Yuan Today
On May 25, the People's Bank of China conducted a 258 billion yuan 7-day reverse repo operation today, with a bidding amount of 258 billion yuan and a winning amount of 258 billion yuan, at an operation rate of 1.40%, unchanged from before. Due to the maturity of 500 billion yuan in 1-year Medium-term Lending Facility (MLF) and 10 billion yuan in 7-day reverse repos today, there was a net withdrawal of 243 billion yuan. -
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Iranian Official: Management of the Strait of Hormuz Will Not Return to Pre-War Status
On May 25, local time May 24, Rezaei, spokesperson for Iran's National Security and Foreign Policy Committee, stated that the management of the Strait of Hormuz will not return to its pre-war status. He also mentioned that the strait is currently under Iranian control, and after the end of the state of war, Iran can facilitate the passage of vessels. Rezaei further stated that Iran has not negotiated with the United States regarding its enriched uranium stockpile and will never back down from its current position; the U.S. has no choice but to accept Iran's conditions. -
Trump: US-Iran Agreement 'Not Fully Negotiated Yet'
On May 25, U.S. President Trump stated on the 24th that the agreement between the United States and Iran is 'not fully negotiated yet,' accusing some uninformed individuals of 'unfounded criticism.' Trump posted on social media, saying, 'If I reach an agreement with Iran, it will be a good and appropriate agreement.' 'No one has seen it or knows its contents. It is not fully negotiated yet. So don't listen to those losers who criticize something they don't understand at all.' According to U.S. media reports, although the draft of the agreement has not been made public, some individuals in the U.S. have criticized it fiercely, claiming it actually undermines the goals set by the Trump administration. White House officials told the media that it will take 'a few more days' to finalize the agreement between the U.S. and Iran. (Xinhua News Agency) -
Vitalik: Ethereum Foundation is Not the Central Manager of the ETH Ecosystem, Future Development Will Shift to 'Small and Long-term' Approach
On May 25, Ethereum founder Vitalik shared his views on the future development direction of the Ethereum Foundation in a post on the X platform. He emphasized that this is just his personal opinion. The board does not consist solely of him, and he does not have more special powers than other board members. Aya Miyaguchi is leading most of the execution work for this transformation, while his own involvement is more focused on technical issues. The board is currently expanding, and his influence within the organization will continue to decline in the future, which, frankly, is what he hopes to see. By 2025, the Ethereum Foundation has made significant improvements in its execution capabilities. Many issues have been resolved, and the foundation continues to benefit from greater efficiency and a stronger focus on specific goals. However, as these issues were addressed, he began to care more about another concern: he often sees people saying, 'Vitalik has always talked about Ethereum needing to be decentralized, having privacy, and becoming a shelter technology, but why do the actions of the Ethereum Foundation not reflect these ideals?' Of course, there are those who hold completely different views. Some do not feel there is a crisis at all, but rather believe that the Ethereum Foundation has finally begun to take execution and business development seriously, and the next focus should be to continue along this path faster and stronger. Vitalik believes that this difference essentially reflects varying sensitivities to different types of criticism, and he is more easily hurt by criticisms regarding deviations from values. Vitalik stated that the Ethereum Foundation should not be 'the center of Ethereum,' but rather 'a node with clear responsibilities, existing alongside other nodes.' In the past, they have always said this, but many people in the ecosystem, including some within the foundation, hoped the foundation would become a true center. Now, they are taking concrete actions to ensure the foundation becomes the latter. This is particularly important because the Ethereum Foundation is essentially a resource-limited and organizationally limited entity. The foundation currently holds only about 0.16% of all ETH, which is even lower than many large ETH holders; whereas many other blockchain projects' 'central foundations' typically control 10%-50% of their tokens. The current Ethereum Foundation has decided to use its remaining resources to pursue 'long-term viability' rather than continuous expansion (which also means they will sell less ETH). The foundation will focus on those things that are crucial for Ethereum to become a censorship-resistant, control-resistant, open, private, and secure system, but that no one else would do if the foundation does not. This means they must make difficult choices. Some projects and individuals they highly respect may no longer belong to the foundation's system in the future. In fact, if they want important tasks to attract external capital, it may be necessary to keep some talented individuals, influential public figures, and those who share the mission and CROPS philosophy outside the foundation. This also means that the Ethereum Foundation will take a clearer and more principled stance on a cultural level. -
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U.S. Officials: Agreement with Iran Expected Not to Be Signed on Sunday, Some Issues Remain
On May 24, Axios reported, citing a U.S. official, that Iran's Supreme Leader has approved the overall framework of the agreement. There are some important statements for us and some significant wording for Iran. It is expected that the agreement with Iran will not be signed on Sunday, as there are still some issues that need to be resolved. The current status of the Iranian regime is progressing slowly, and completing the necessary approvals will take a few days. -
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