Crypto, Markets Slide as Negotiations Fall Through
It appears the first round of Iran peace negotiations did not go well, which impacted the markets negatively. Vice President JD Vance walked out Saturday night without a deal. Trump posted almost immediately that the U.S. Navy will begin blockading ships trying to enter or leave the Strait of Hormuz.
This decision caused markets to drop, with BTC falling from the $73K+ level to $71K. ETH is down from above $2,300 to below $2,200. Oil prices surged 7%, reaching $97, raising concerns over the potential consequences of the blockade.
New data from Glassnode highlighted significant profit-taking activity in Bitcoin, showing $20M in profit realization per hour above the $70K level as big holders became relentless sellers.
Morgan Stanley’s Crypto Push
Morgan Stanley’s Bitcoin ETF, MSBT, launched recently, and the company is already exploring further developments. The firm's digital-asset strategy head, Amy Oldenburg, expressed interest in creating a tokenized money-market fund following BlackRock's lead. Parametric, a Morgan Stanley subsidiary, would manage crypto tax-loss harvesting. In-house Bitcoin yield and lending services are also in development.
A New Quantum-Safe Bitcoin Solution
StarkWare researcher Avihu Mordechai Levy introduced a quantum-safe Bitcoin transaction proposal without requiring a fork. The QSB scheme employs hash-based puzzles and Lamport signatures within Bitcoin’s existing scripting rules. Users solve the puzzle off-chain and then broadcast a transaction with embedded proof. While a good step forward, this is viewed as a temporary solution, as it involves non-standard transactions sent directly to mining pools.
CFTC's Regulatory Stance on Prediction Markets
CFTC Chair Mike Selig clarified the agency's exclusive authority over prediction markets, committing to defend this stance legally. This position is supported by a recent Third Circuit ruling, reinforcing the CFTC’s jurisdiction over designated contract markets. The agency is prepared to take legal action against more states in the future.
Justin Sun's WLFI Concerns
Justin Sun expressed frustrations with World Liberty Financial (WLFI), revealing an undisclosed backdoor in their smart contract allowing the company to control token holder rights unilaterally. Sun criticized WLFI for lack of transparency and demanded the unlocking of remaining tokens. WLFI responded, asserting readiness for legal proceedings.
This article has been published in decrypt.co via Yahoo News.
Morning Minute: Relentless Sellers, War Volatility Keep Bitcoin Down
Bitcoin fell over the weekend as Iran negotiations failed and sell pressure persists, while Morgan Stanley signaled growing crypto ambitions.
finance.yahoo.com
