Middle East tensions continue to dominate the macro backdrop, with markets closely watching for signs of escalation or containment. Risk assets, including crypto and equities, rebounded on Monday as investors grew more confident that the Israel-Iran conflict would remain localized. While Iran floated the possibility of closing the Strait of Hormuz, a critical chokepoint for global oil flows, crude prices, which had surged to $78, retraced sharply, falling 8% to around $71. Gold also rallied, reaffirming its role as a safe haven amid geopolitical uncertainty.
Crypto markets regained footing, with BTC holding firm above the key $100K psychological level, shrugging off initial fears. Institutional participation continues to dampen knee-jerk selling on headline risk. Meanwhile, the ETH-BTC implied volatility spread has widened, suggesting ETH options are commanding a premium relative to BTC. ETH bulls argue the token remains undervalued given its broader utility in staking, Layer 2 scaling, DeFi, and tokenization, positioning it differently than BTC’s “digital gold” narrative.
In corporate developments, Tron is eyeing a public listing following a pause in the U.S. probe into its billionaire founder. Strategy added over 10,000 BTC (~$1B) to its balance sheet, funded through high-yield preferred shares and equity issuance. Metaplanet also ramped up its BTC exposure, acquiring 1,112 BTC for $117.2M, leapfrogging Coinbase to become the ninth-largest holder with over 10K BTC.
Looking ahead, Wednesday’s FOMC meeting takes center stage. While Trump is publicly pressuring Powell to ease policy, markets are overwhelmingly pricing in a hold. Elevated oil prices tied to geopolitical risks have only strengthened the Fed’s resolve to remain cautious, pushing rate cut expectations further out on the curve.
Circle CEO Jeremy Allaire heralds stablecoins as “the highest utility form of money ever created,” thanks to their speed, low cost, and programmable features. However, he cautions the stablecoin space hasn’t yet had its “iPhone moment”—a breakthrough that triggers mainstream adoption. Allaire and others believe once developers and users fully realize the power of real‑time, programmable digital dollars, the leap to mass adoption will follow.
Justin Sun, TRON’s founder, intends to bring a Tron-linked entity public in the U.S. through a reverse merger with SRM Entertainment, potentially raising $210 million in token-backed financing. The move would create “Tron Inc.” and reportedly position Eric Trump in a leadership role. SRM has pledged $100 million toward TRX staking and treasury initiatives, causing TRX to jump nearly 7% on the news.
French lawmakers are proposing a national review to explore using Bitcoin mining to consume excess electricity—primarily from nuclear power plants—thus turning otherwise wasted energy into economic value. They highlight mining’s flexibility to stabilize the grid, repurpose old industrial sites, and even reuse waste heat. This could help reduce €80 million in annual power losses and align with France’s decarbonization goals.
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