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The US and Iran are reportedly closing in on a nuclear deal framework, one that would see Tehran give up hundreds of kilograms of highly enriched uranium in exchange for the release of billions in frozen assets.
As of late May 2026, US officials indicated that Iran has agreed in principle to dispose of approximately 440 to 460 kg of uranium enriched to 60%, a stockpile that represents one of the most sensitive points of tension in global security. In return, discussions have centered on releasing around $20 billion in frozen Iranian assets and facilitating the reopening of the Strait of Hormuz, through which roughly a fifth of the world’s oil passes daily.
What the deal actually looks like
The proposed agreement follows a two-step structure. The first phase reportedly focuses on the uranium disposal and the Strait of Hormuz, establishing a foundation before broader terms are negotiated. President Trump has emphasized that this deal would differ substantially from the 2015 Joint Comprehensive Plan of Action, the Obama-era agreement the US withdrew from in 2018.
After the US pulled out of the JCPOA, Iran steadily expanded its enrichment activities, amassing the significant stockpile that is now at the center of these talks.
Neither side has formally signed anything yet. Final approvals from both US and Iranian leadership remain pending. Iran’s agreement is described as “in principle,” which in diplomatic language means there’s still meaningful distance between a handshake and a binding commitment.
Crypto markets respond before the ink is dry
On May 24, 2026, the broader crypto market added roughly $75 billion in total value following Trump’s positive remarks about the state of negotiations. Bitcoin climbed nearly 3%, approaching $77,000. Other tokens including NEAR and HYPER also reflected gains.
What this means for investors
The Strait of Hormuz component adds another dimension. If reopened as part of the first phase, it would immediately affect global oil supply dynamics, potentially lowering energy prices.
There’s also the matter of $20 billion in frozen assets potentially re-entering the global financial system. That’s not a trivial amount of capital, and its deployment would create ripple effects across multiple markets.