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US President Donald Trump has said the military operation to guide stranded merchant ships through the Strait of Hormuz will be paused just two days after he announced it.
Trump declared on Sunday that "Project Freedom" would begin the next morning in an attempt to unblock the crucial waterway which Tehran has effectively closed since the start of the US-Israel war with Iran.
Iran's threats to ships using the strait - through which some 20% of the world's oil and gas flows - has led to large increases in the oil price and fears for the global economy.
But 50 hours later the president posted that the mission was being put on hold "for a short period of time
His decision came on the same day his defence secretary had declared the US was "leading with strength, clarity and purpose for the benefit of the entire world".
BBC Verify has put together a timeline of what happened during the two days of "Project Freedom".
At 18:52 Washington time (23:52 BST) he posted on Truth Social saying the decision had been made by "mutual agreement" because there had been "great progress" towards a deal with Iran.
Project Freedom (The Movement of Ships through the Strait of Hormuz) will be paused for a short period of time to see whether or not the Agreement can be finalized and signed," the president posted.
The project - which Hegseth said earlier the same day was part of a "laser-focused strategy" - had been put on hold.
A little over four hours before Trump's announcement a ship belonging to the French CMA CGM group was hit in the Strait of Hormuz - injuring some of the crew and damaging the vessel.
According to the shipping publication Lloyd's List ship owners and insurers said "Project Freedom" had not given them "sufficient clarity or credible protection to justify resuming transits" through the strait.
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A former senior Drug Enforcement Administration (DEA) agent who once oversaw the agency’s financial operations has been indicted for conspiring to launder millions of dollars in narcotics proceeds for Mexico’s Jalisco New Generation Cartel (CJNG), according to federal prosecutors in Manhattan
Paul Campo, who served the DEA for 25 years and rose to become Deputy Chief of the Office of Financial Operations, is accused of laundering $750,000 in cartel cash by converting it into cryptocurrency and agreeing to launder an additional $12 million. Prosecutors say Campo also facilitated a payment for 220 kilograms of cocaine, valued at roughly $5 million, while boasting of his prior law enforcement expertise.
Campo, alongside co-defendant Robert Sensi, allegedly met with a confidential source posing as a CJNG operative in late 2024. The indictment details how the two men offered to channel cartel money through real estate investments, advised on fentanyl production, and even explored procuring military-grade weapons and drones for the cartel.
As alleged, Paul Campo and Robert Sensi conspired to assist CJNG, one of the most notorious Mexican cartels that is responsible for countless deaths through violence and drug trafficking in the United States and Mexico,” said U.S. Attorney Jay Clayton. “By participating in this scheme, Campo betrayed the mission he was entrusted with pursuing for his 25-year career with the DEA. CJNG is a violent and corrupting criminal enterprise that New Yorkers want broken.”
DEA Administrator Terrance C. Cole emphasized the gravity of the charges: “The indictment of former Special Agent Paul Campo sends a powerful message: those who betray the public trust—past or present—will be held to account to the fullest extent of the law. We will not look the other way simply because someone once wore this badge. There is no tolerance and no excuse for this kind of betrayal.”
Campo’s career included high-profile assignments in New York, Rome, and Milan, as well as leadership roles in DEA’s congressional affairs and financial operations. He represented the agency before Congress, the Treasury, and international organizations such as Interpol and the Financial Action Taskforce (FATF).
Now, prosecutors say, the same expertise he once used to combat money laundering was turned toward aiding one of the world’s most violent cartels. Campo faces charges of narco-terrorism conspiracy, conspiracy to distribute narcotics, conspiracy to provide material support to a terrorist organization, and conspiracy to commit money laundering
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🚀 New Trading Pairs Launching TOMORROW (May 12)
Mark your calendars:Binance is adding new Spot trading pairs and Trading Bot services effectively May 12, 2026.
What to Watch:Often, coins get a volatility spike just before and just after new pairs go live due to increased liquidity and arb bots.
Launchpool Radar: Don't forget the HODLer Airdrops currently active (CHIP, ROBO, NIGHT). Staking your BNB is the safest play in this market.
Action Plan:Check the "New Listings" tab tomorrow at 08:00 UTC.
Set limit orders if you plan to trade the volatility.
👉 Follow for instant Binance listing alerts!
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📈 Top 3 Gainers:
$LAB (LAB) : ↑5.13%
$COLLECT (Collect on Fanable) : ↑4.01%
$OG (OG Fan Token) : ↑3.59%

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The CHIP/USDT chart is attracting serious attention after delivering a clean and steady bullish rally on the 15-minute timeframe. Unlike sudden pump-and-dump moves, $CHIP is showing something traders love to see: controlled growth with healthy momentum.
Currently trading around $0.06878, the coin has already gained more than 16% in the last 24 hours, while maintaining strong support above key moving averages. This kind of price action often signals that buyers are still active in the market.
📈 A Perfect Example of a Healthy Uptrend
$CHIP started its move near the $0.05233 support zone, where accumulation quietly took place. From there, the chart formed a series of:
✅ Higher Highs
✅ Higher Lows
✅ Strong Volume Spikes
✅ Bullish Moving Average Alignment
This gradual climb eventually pushed the price to a high of $0.07584, showing impressive bullish strength.

The MA7 (yellow line) crossing above the MA25 (pink line) created a classic bullish confirmation, while the MA99 (purple line) continues trending upward, supporting the long-term momentum.

🔥 What Makes This Chart Interesting?
Unlike coins that pump instantly and crash, CHIP is showing:
✔️ Controlled Buying Pressure
The candles are climbing step by step instead of moving vertically. This usually indicates real buyer interest instead of temporary hype.
✔️ Strong Volume Confirmation
The volume bars increased significantly during breakout phases, proving that traders are actively supporting the move.
✔️ Healthy Pullback Structure
After touching $0.07584, the price slightly corrected and stabilized near $0.068, which is often considered a healthy consolidation zone before another possible move upward.

📊 Important Levels to Watch
🔹 Resistance Zone:
$0.071 – $0.075
A breakout above this region could open the path toward $0.080+
🔹 Support Zone:
$0.066 – $0.067
Stronger support near $0.062
As long as $CHIP remains above support, bulls may continue controlling the trend.

⚡ Market Sentiment
The overall structure suggests that traders are becoming increasingly confident in CHIP. The combination of:
Rising volume
Bullish moving averages
Strong price structure
Consistent momentum
creates a setup many short-term traders and swing traders look for during trending markets.

🧠 Final Thoughts
CHIP/USDT is currently showing one of the cleaner bullish setups among trending altcoins. The steady rise, healthy consolidation, and strong market participation make this chart stand out.
If buyers continue defending support levels, CHIP could attempt another breakout soon — and traders will definitely be watching closely for the next explosive move. 🚀
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