Iran Built a $7.78B Crypto Economy to Bypass Sanctions

QCP: Bitcoin remains resilient amid the Hormuz crisis, while AI and tech industries come under pressure

The closure of the Strait of Hormuz has led to rising energy prices, with Brent crude reaching $83 and natural gas up 50%. The South Korean stock index KOSPI fell 20% due to the impact. Bitcoin performed strongly, possibly indicating a shift in risk appetite. The market expects continued volatility, with all parties pressuring Iran to open the strait.

Dark Week for Asian Stocks! Korea locks out margin traders, Taiwan's many frogs are crying out, and Japan's NISA investors are feeling the pain of the stock market crash

The joint attack by the US and Israel on Iran caused a crash in Asian stock markets. South Korea's KOSPI plummeted nearly 20% over two days, marking the largest decline since 2008; Taiwan's stock market was also affected, with TSMC's market value evaporating nearly 2 trillion yuan, and PTT's stock board experiencing panic selling. The Japanese market also took a heavy hit, with the Nikkei index dropping over 4,000 points in three days. NISA investors are facing their first market crash challenge, and investor panic sentiment is rising. The market has not yet stabilized.

ETF Frenzy for Capital Inflow, Strong Bearish Momentum in Futures: Bitcoin Surges Past $69,000, Can the Short-term Rebound Continue?

Despite ongoing geopolitical uncertainties, the cryptocurrency market has demonstrated remarkable resilience, with Bitcoin breaking through $69,000 today (4) and approaching the $70,000 mark again. Market analysis indicates that this rally is less about investors' "bullish confidence" returning and more about a technical rebound driven by "short covering." Crypto market maker Enflux pointed out that the market has neither fully priced in the disaster nor placed optimistic bets on a resolution. Last weekend, shorts capitalized on news of Middle Eastern military conflicts, causing Bitcoin to drop to $63,000. However, once the market realized that the situation was not escalating into a full-scale regional war affecting global trade routes, the long-suppressed short positions were quickly hunted down, triggering a short squeeze. Enflux described in its report that the reaction speed of crypto assets to geopolitical shocks far exceeds that of traditional assets: When gunfire erupts or sanctions are imposed

JPMorgan CEO slams the crypto industry: "Interest-bearing stablecoins" are equivalent to deposits and should be regulated like banks

In the ongoing battle over stablecoin yields sparked by the 《CLARITY Act》, the most influential leader on Wall Street, JPMorgan Chase CEO Jamie Dimon, has spoken out, emphasizing that the banking industry is actively seeking to have "a fair playing field" with cryptocurrency companies. He also issued a stern warning: any stablecoin offering interest-like returns to users should be treated the same as bank deposits and subject to the same rigorous regulatory framework. On Monday, Jamie Dimon told CNBC that if crypto companies want to pay "interest-like" rewards to stablecoin holders, they should be regulated just like banks. He said: "The banking industry’s position is very clear: what we call 'rewards' are essentially 'interest.' If you hold customer funds and pay interest, you are in the banking business. In essence,"

Oil prices surge, interest rate cut expectations cool down! Circle benefits as the target price breaks $100

U.S. stablecoin giant Circle recently surged nearly 8% in stock price, hitting a four-month high, due to soaring oil prices and a cooling of interest rate cut expectations. Mizuho Securities raised its target price to $100, while maintaining a "Neutral" rating, but became more optimistic about profit prospects. Analysts believe that if the Federal Reserve continues to keep interest rates high, Circle's revenue will benefit accordingly, but market competition and regulatory pressures should still be watched carefully.