According to CoinMeta, after the Houthi rebels attacked Saudi oil tankers in the Red Sea and occupied the Strait of Mandeb, Saudi Arabia took the initiative to contact the Houthis in an attempt to understand the costs of a ceasefire. The Houthis demanded $51 billion to compensate for the losses incurred by Saudi airstrikes and blockades over the years, and also requested that Saudi Arabia officially recognize them as the rulers of Yemen. Neither the Saudi government nor the leadership of the Houthi rebels responded to requests for comments.