The crypto market lost over $120 billion in value this week as $1 billion in Bitcoin, Ethereum, XRP, Solana, and altcoins faced liquidation triggered by geopolitical tensions and market pressures.
The US government imposed new sanctions targeting Iran’s agency overseeing shipping tolls and transit through the Strait of Hormuz amid ongoing conflict and diplomatic efforts.
Bitcoin’s price slide contrasts with record highs in AI-driven stock markets as regulatory delays and miners’ shifting focus dampen crypto momentum.
Snowflake’s stock soared after reporting better-than-expected earnings and announcing a multibillion-dollar, five-year commitment to Amazon Web Services’ cloud and AI infrastructure.
The US targets Iran’s newly formed agency regulating shipping through the Strait of Hormuz, adding economic pressure amid ongoing military actions and tense negotiations.
Dallas Fed President Lorie Logan said prolonged closure of the Strait of Hormuz could force a significant reduction in global oil and gas consumption due to constrained supplies.
Ukrainian President Zelenskyy met with Sweden’s prime minister to advance defense cooperation, focusing on fighter jets and Ukraine’s growing drone expertise amid ongoing conflict with Russia.
Crypto-linked debit and credit cards saw a sharp rise in monthly transaction volume, driven by stablecoin adoption and expanding partnerships with major payment networks.
HTX disputes UK sanctions over alleged links to Russia’s shadow A7 network despite new data revealing billions in cryptocurrency flows tied to Russian entities.
Kevin Warsh steps into the Federal Reserve chairmanship facing the challenge of correcting flawed policies that allowed inflation to surge, impacting everyday Americans under the previous administration.