Weekly Recap: Iran floats crypto/yuan transit fees, crypto pushed into 401(k)s, Schwab's Bitcoin and Ethereum plans

Weekly Recap 1) Iran says ships transiting the Strait of Hormuz must pay passage fees in cryptocurrency or Chinese yuan. 2) The US Department of Labor proposed a rule that would open roughly $10 trillion in 401(k) retirement plans to crypto and alternative investments. 3) Charles Schwab, which oversees about $12 trillion, says it will launch Bitcoin and Ethereum trading for users "soon." 4) Michael Saylor said the four-year Bitcoin cycle is "dead." 5) President Trump is set to unveil a $1.5 trillion defense budget, marking the largest annual increase in US military spending since World War II. 6) Elon Musk said Tesla is making a "big" investment in Japan. 7) Fed Chair Jerome Powell warned the US national debt is growing "substantially" faster than the economy and said the trend is not sustainable. 8) Coinbase received conditional approval for a US national trust company charter. 9) Elon Musk's SpaceX confidentially filed for an IPO. 10) President Trump said he built the "strongest economy in history" with no inflation and the "highest stock market ever."