Crypto World
Iran Weighs Crypto Tolls for Strait of Hormuz Shipping
A Financial Times report this week outlined a provocative idea from Iran’s trade sector: charge ships transiting the Strait of Hormuz a tariff paid in Bitcoin. The plan would let empty oil tankers pass without charges, but other vessels would owe a levy of $1 per barrel, settled in BTC, over a two-week window and after an on-waterway assessment to verify the cargo isn’t weapons-related, according to Hamid Hosseini, spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union.
The story arrives as geopolitical tensions flare and markets react. On X (Truth Social), former U.S. President Donald Trump asserted that a two-week ceasefire with Iran would include the “complete, immediate, and safe opening of the Strait of Hormuz,” a claim that Iran’s state media later echoed by reporting a 10-point plan delivered to Washington as a precondition for any deal, including the continued control of the waterway and sanctions relief. The exact terms of any accord remain fluid, but the FT report highlights how crypto-enabled mechanisms could become part of broader political and economic signaling in a high-stakes standoff.
Geopolitical friction has already disrupted regional shipping and energy flows. After intensified U.S.–Israel–led strikes against Iranian targets in February and March, the Strait of Hormuz has seen shipments constrained and tensions rise, contributing to a rally in crude oil that briefly pushed prices above $100 per barrel. In crypto markets, Bitcoin likewise moved during the period of heightened volatility, trading in a wide range as traders priced in the risk backdrop.
Beyond current events, the narrative builds on prior evidence that Iran has leaned on crypto rails to navigate sanctions and currency pressures. Elliptic reported in January that Iran’s central bank had acquired roughly half a billion dollars’ worth of Tether USDt, a signal of the rial’s volatility driving demand for dollar-pegged stablecoins. Separately, TRM Labs has tracked large-scale crypto flows linked to Iran, estimating about $3.7 billion in total crypto activity from January through July 2025, a figure cited in coverage surrounding Iran’s evolving crypto footprint. For more context, see the reporting that referenced TRM Labs, and the Elliptic analysis linked to Iran’s stablecoin acquisitions.
Key takeaways
- Iran reportedly weighs a Bitcoin-based tariff for Strait of Hormuz transit, charging $1 per barrel for non-empty cargo while allowing empty tankers to pass without charges.
- Payments would be prompted within a two-week window, with vessels assessed individually to confirm cargo legitimacy and weapon-free status, per the union spokesperson cited by the Financial Times.
- The proposal comes amid ongoing geopolitical flare-ups and energy-market volatility, set against a backdrop of broader sanctions dynamics and potential relief talks.
- Longer-term context shows Iran’s crypto activity as part of sanctions navigation: Elliptic notes substantial USDT holdings, and TRM Labs records substantial inflows and flows related to Iranian crypto use (Jan–Jul 2025).
- Readers should watch how policymakers, shipping operators, and crypto market participants respond to the FT report and any subsequent official statements or regulatory clarifications.
Hormuz toll: a crypto twist on maritime economics
The Financial Times’ account centers on a regulatory pivot that would blend transport pricing with digital asset settlements. If implemented, the BTC-based toll model would apply a simple per-barrel tariff to shipments crossing the Hormuz route, aiming to consolidate revenue amid sanctions pressures and to test the practicality of crypto-as-fee mechanics in critical chokepoints. The proposal specifies that the tariff would be collected in Bitcoin, with the logistics package requiring ships to settle payments quickly—“a few seconds”—to minimize traceability and potential sanction enforcement risk, according to Hosseini’s description of the process observed by the union.
The plan’s two-week horizon aligns with a provisional, high-visibility window rather than a long-term price signal. Even as it surfaces as a potential policy experiment, the reporting underscores how crypto rails could be positioned as geopolitical tools—whether for financing logistics, signaling political intent, or pressuring opponents through new payment frictions. The FT piece stops short of confirming that such a policy will be adopted, but it illustrates the kinds of mechanisms policymakers are weighing in an era of sanctions and blockade-era finance.
Geopolitics and markets: energy, sanctions, and crypto co-movement
Market dynamics over the past several months have shown that energy disruptions and crypto volatility can move in tandem, albeit imperfectly. The period of heightened tension around Hormuz coincided with a spike in oil prices and a broad oscillation in Bitcoin’s price, reflecting traders’ attempts to navigate the intersection of real-world risk and on-chain liquidity. The possibility of crypto-enabled tolls adds a new dimension: it could introduce a measurable crypto flow that tracks shipping activity in a region that shapes global oil pricing and geopolitical risk appetites.
The Trump assertion about a potential ceasefire and Hormuz opening, though unconfirmed and contested in official channels, amplifies the sense that the Iran-US standoff remains a live, strategic story with tangible financial undercurrents. If a BTC-payment framework for Hormuz passes from concept to policy, it could become a focal point for how Western sanctions policy, shipping finance, and crypto settlements intersect in real-world commerce. Observers will be watching not only for official confirmations but also for how such a mechanism would be audited, taxed, and regulated across different jurisdictions.
Iran’s crypto footprint: sanctions, stability, and opacity
The broader crypto-adoption narrative in Iran isn’t new, but recent data points underscore its relevance to policy and markets. Elliptic’s analysis in early 2025 highlighted Iran’s sizable holdings of USDt, pointing to a deliberate use of stablecoins to stabilize liquidity amid currency pressures. Meanwhile, TRM Labs documented substantial Iranian crypto activity totaling several billions of dollars over the first half of the year, illustrating the scale at which digital assets flowed through or around conventional financial channels. These patterns don’t guarantee a specific policy outcome in Hormuz, but they do suggest that crypto channels are considered—from a fiscal and strategic standpoint—by actors navigating sanctions, currency depreciation, and access to global markets.
For investors, traders, and builders, the episode reinforces a few practical takeaways. First, crypto-based payments and settlement methods can enter political calculations in ways that affect cross-border logistics and risk premia. Second, the on-chain footprint of sanctioned economies remains an area of close scrutiny for analysts and enforcement agencies, with real implications for compliance, monitoring technology, and liquidity flows. Finally, the linkage between energy markets and crypto markets—with prices, volatility, and liquidity all in play—continues to shape risk management and hedging considerations for market participants.
As the situation unfolds, readers should watch for clearer official statements about any Hormuz-related policy and for data from shipping groups and energy markets that could either validate or debunk the feasibility of a BTC settlement regime. The evolving narrative also invites questions about international law, the enforceability of crypto-based tariffs, and how such experiments would interact with existing sanctions regimes and financial sanctions regimes across multiple jurisdictions.
The broader takeaway is that crypto assets are increasingly embedded in geopolitics, not just as speculative instruments but as functional components of policy signaling, logistics, and revenue streams. What comes next will likely hinge on how quickly authorities weigh in, how ship operators adapt to new payment rails, and whether any pilot evolves into a enforceable policy on Hormuz traffic.
NEAR Protocol (NEAR) joined Internet Computer (ICP) as a top performer, climbing 8.9% from Tuesday.
Strategy Executive Chairman Michael Saylor rejected the New York Times investigation identifying Adam Back as Bitcoin’s (BTC) pseudonymous creator, Satoshi Nakamoto.
Saylor said stylometry is “interesting, but not proof.”
Why Saylor Demands Cryptographic Evidence
Saylor pointed to contemporaneous 2008 emails between Satoshi and Back as evidence that the two were separate people.
Back first received a message from Satoshi in August 2008 confirming the Hashcash citation in the upcoming white paper.
“Stylometry is interesting, but not proof. The contemporaneous emails between Satoshi and Adam Back suggest they were distinct individuals. Until someone signs with Satoshi’s keys, every theory is just narrative,” said Saylor.
That position aligns with his broader philosophy. Saylor has repeatedly described Satoshi’s disappearance as a deliberate act that strengthened BTC by removing any central authority figure.
He once wrote that Satoshi “created a way, gave it away, and walked away.”
What MicroStrategy Has at Stake
Strategy holds 766,970 BTC acquired for roughly $54.57 billion, making it the largest corporate holder globally.
That position depends on BTC functioning as a decentralized, leaderless monetary network, not on who designed it.
BTC dipped roughly 2.4% after the NYT article dropped, falling from $68,269 to $66,634. Saylor has previously dismissed such moves as temporary noise, calling volatility “Satoshi’s gift to the faithful.”
Back himself firmly denied being Satoshi, attributing writing overlaps to shared cypherpunk interests and confirmation bias.
The stylometric analysis, led by computational linguist Florian Cafiero, found Back as the closest match among 12 suspects but described the results as inconclusive.
For Saylor, the answer remains simple. Without a signature from Satoshi’s private keys, no investigation settles the question.
The post MicroStrategy’s Michael Saylor Doesn’t Buy The Adam Back Is Satoshi Story appeared first on BeInCrypto.
Standard Chartered is planning to reabsorb the client-facing custody operations of Zodia Custody into the digital assets division of its Corporate and Investment Bank (CIB).
The restructuring, which could be announced as early as this month, would leave Zodia operating only as a standalone Software-as-a-Service (SaaS) platform for custody technology, according to Bloomberg sources familiar with the matter.
From Incubation to Independence to Reabsorption
Standard Chartered established Zodia Custody in late 2020 through its innovation arm SC Ventures, alongside Northern Trust.
The custodian later attracted minority investors, including SBI Holdings, National Australia Bank, and Emirates NBD. It now employs around 150 people across seven offices globally.
Zodia had been gaining traction. In January 2026, it became the first custodian to support AUDM, an Australian dollar stablecoin.
The following month, it launched Zodia Switch, enabling clients to swap assets directly within the custody platform without external pre-funding.
However, Standard Chartered launched its own Luxembourg-based digital asset custody last year and rolled out institutional crypto trading separately.
The overlap between parent and subsidiary made a restructuring likely.
It remains unclear whether Standard Chartered has consulted Zodia’s minority shareholders.
Banks Are Pulling Custody In-House
The digital asset custody market currently exceeds $1 trillion and is projected to reach $7 trillion by 2035 at a compound annual growth rate of roughly 23.7%.
According to the 2026 EY-Parthenon survey, 73% of institutional investors plan to increase digital asset allocations this year.
That growing demand is pulling banks deeper into direct custody. State Street and BNY Mellon have scaled internal digital custody divisions.
Morgan Stanley filed for a dedicated national trust bank charter in February to custody and stake crypto assets under federal supervision.
Analysts see the restructuring as a turning point, with some arguing that when a Tier-1 global bank moves crypto custody into its investment bank, it stops being a contest between crypto and TradFi and becomes crypto embedded inside TradFi.
Zodia was originally built as a standalone vehicle to test the waters safely, and its reabsorption only happens when the parent sees digital assets as real, fee-generating capital markets business.
Meanwhile, others suggest a wider pattern of traditional banks pulling digital asset functions from experimental ventures into core regulated operations, noting that running parallel services was simply inefficient.
“…The suits finally realized running the same thing twice is inefficient. Revolutionary,” one user stated.
What This Says About Crypto Custody Independence
The answer appears increasingly clear. Independence for bank-backed custodians served a specific purpose during the experimental phase of 2020-2023, when regulatory uncertainty made arm’s-length structures necessary.
Now that frameworks like MiCA in Europe and the GENIUS Act in the US have reduced that friction, banks no longer need buffer entities to engage with digital assets.
“This mirrors a wider trend of traditional banks pulling digital asset functions from experimental ventures into core regulated ops – driven by frameworks like MiCA and VARA,” the user added.
Zodia’s hybrid outcome is telling. The technology retains standalone value as SaaS, but the actual safekeeping of client assets, the highest-trust and highest-margin piece of the value chain, moves back onto the parent bank’s books.
That distinction reveals what banks truly want to own versus what they are willing to license out.
Crypto-native custodians like Coinbase Custody, BitGo, and Fireblocks still hold nearly half the global market.
Can they defend that share against a banking sector now determined to bring custody in-house?
The post Standard Chartered is Taking Over Full Crypto Custody Platform Zodia appeared first on BeInCrypto.
The Federal Deposit Insurance Corporation a proposed rule that would establish a framework for stablecoin issuers supervised by the FDIC.
The Federal Deposit Insurance Corporation proposed new rules on Tuesday to oversee stablecoins issued through the banking system under the GENIUS Act. The FDIC board of directors voted to advance the proposal, which sets parameters for how stablecoins may be issued and managed by regulated depository institutions.
The proposal represents the FDIC’s formal regulatory framework for stablecoin operations within the traditional banking sector. Details on specific requirements and implementation timelines were included in the Tuesday statement.
Sources: FDIC
This article was generated automatically by The Defiant’s AI news system from publicly available sources.
Polymarket has acquired Brahma to enhance its DeFi infrastructure and trading performance capabilities.
Polymarket has acquired Brahma, a DeFi infrastructure provider, to strengthen its platform’s trading performance and underlying infrastructure. The acquisition was announced on April 8, 2026, and aims to bolster Polymarket’s capabilities in the decentralized finance ecosystem.
Brahma’s integration into Polymarket is expected to enhance the prediction market platform’s technical infrastructure and user experience. The deal represents continued consolidation in the DeFi sector as platforms seek to improve their competitive positioning.
Source: Polymarket
This article was generated automatically by The Defiant’s AI news system from publicly available sources.
Iran will collect crypto payments as transit fees from oil tankers passing through the Strait of Hormuz during the two‑week ceasefire with the U.S., an industry official told FT.
Hamid Hosseini, spokesperson for Iran’s Oil, Gas and Petrochemical Products Exporters’ Union, said that crypto-denominated tolls will be charged for fully loaded vessels as the nation seeks to “monitor what goes in and out of the strait to ensure these two weeks aren’t used for transferring weapons.”
Hosseini’s comments signal Tehran’s willingness to use cryptocurrency for toll payments, highlighting the expanding real‑world use cases of digital assets in high-stakes geopolitical developments.
This isn’t new — nations at odds with the U.S. or its allies have long turned to crypto as a way to bypass traditional banking channels that leave a paper trail. Russia has indeed used cryptocurrency as part of broader efforts to evade Western sanctions, and in Iran’s case, Tehran is exploring digital payments as it looks to unlock funds for rebuilding the war-destroyed infrastructure.
The proposed framework will require tankers to notify cargo details to Iranian authorities via email, and the toll will reportedly be calculated at $1 per barrel of oil. Authorities will then instruct on how to settle the fee in digital assets, with officials citing bitcoin as a potential payment method.
Hosseini suggested that empty tankers would transit without charge, but fully laden vessels must comply with the reporting and crypto payment process before being cleared for passage.
“Once the email arrives and Iran completes its assessment, vessels are given a few seconds to pay in Bitcoin, ensuring they can’t be traced or confiscated due to sanctions,” he said.
The comments also indicated Tehran may direct traffic along the northern route of the Strait close to its coastline, a move that could raise questions about whether Western and Gulf‑linked shipping firms are prepared to navigate the risky Iranian waters.
Crypto World
Deposit Flight Concerns Over Stablecoin Yield Are ‘Quantitatively Small’: White House Report
A White House Council of Economic Advisers study released Wednesday concludes that banning stablecoin yield would have minimal impact on bank lending and would harm consumers.
The White House Council of Economic Advisers released a study Wednesday examining stablecoin yield and its impact on deposit flight and bank lending. The report finds that eliminating stablecoin yield would increase bank lending by just 0.02%—approximately $2.1 billion—while resulting in a net welfare loss to consumers. The findings directly contradict concerns from some Senate Banking lawmakers who had pressed the White House to release the report.
The report concludes that deposit flight concerns related to stablecoin yield are “quantitatively small,” noting that most stablecoin reserves remain within the banking system with only a limited share removed from lending activity. The executive summary states: “a yield prohibition would do very little to protect bank lending, while forgoing the consumer benefits of competitive returns on stablecoin holdings.”
Sources: White House
This article was generated automatically by The Defiant’s AI news system from publicly available sources.
Standard Chartered PLC is reportedly seeking to fully acquire Zodia Custody Ltd. to merge it with one of its digital asset divisions, sources close to the matter told Bloomberg on Wednesday.
The ‘restructuring’ plan, which could come as soon as this month, contemplates merging Zodia’s crypto custody business into one of the investment bank’s divisions that provides similar services, the sources told Bloomberg.
The sources also said Standard Chartered is considering allowing Zodia Custody to continue operating as a separate software-as-a-service (SAAS) business for cryptocurrency custody.
The people close to the negotiations, according to Bloomberg, did not clarify whether Standard Chartered has approached Zodia Custody’s minority shareholders, which include Northern Trust Corp., Emirates NBD Bank PJSC, National Australia Bank Ltd. and SBI Holdings Inc.
Emirates NBD and Northern Trust declined to comment, while SBI Holdings and NAB did not immediately respond to requests for comment, Bloomberg wrote.
Standard Chartered told CoinDesk it would not comment on the news of the potential takeover. Zodia did not immediately respond to a request for confirmation.
Standard Chartered has expanded its digital asset footprint in recent years. The bank launched its own digital asset custody services out of Luxembourg in January last year and introduced crypto trading for institutional clients last summer, becoming one of the first global banks to offer spot bitcoin and ether trading.
Banks have ramped up their digital asset activities as regulatory clarity improves in key regions such as the U.S. and Europe. Crypto custody in particular has become a competitive battleground, with firms including State Street, BNY Mellon and Morgan Stanley expanding their presence, with Morgan Stanley recently naming Coinbase and BNY Mellon as custodians for a proposed bitcoin ETF.
Zodia, which was aimed at financial institutions and began custodianship of emeralds in June 2025, raised $18.5 million in a Series A funding round in July of last year to expand and develop its stablecoin payment services.
The firm was originally established in 2020 as a joint venture between Standard Chartered and Northern Trust and has since raised external capital multiple times. Zodia Custody employs around 150 people across seven offices in London, Dublin, Luxembourg, Singapore, the UAE, Sydney and Hong Kong.
Crypto World
Zcash Price Surges Over 30% in 24 Hours as Grayscale Accumulates $46 Million in Shielded ZEC
The Zcash price surged over 30% in 24 hours after the Grayscale Zcash Trust reportedly accumulated approximately $46 million in shielded ZEC, triggering the sharpest single-day rally the privacy coin has seen in weeks and pushing daily trading volume past…
Bitcoin touched a three-week high above $72,700 while $470 million in short positions were liquidated as geopolitical tensions eased.
Crypto markets rallied sharply on Wednesday as a surprise two-week ceasefire between the U.S. and Iran sent Bitcoin to its highest level since mid-March.
Bitcoin is changing hands at $71,638, up 4.3% over the past 24 hours, according to CoinGecko. Ethereum climbed 6% to $2,220, while the total crypto market capitalization rose nearly 4% to $2.51 trillion.
Ceasefire Sparks Short Squeeze
The rally kicked off on Tuesday evening after President Trump announced a conditional two-week ceasefire with Iran, agreeing to suspend military operations for two weeks pending further negotiations. Pakistan’s Prime Minister Shehbaz Sharif brokered the deal, with formal peace talks scheduled to begin Friday in Islamabad.
CoinGlass data showed approximately $654 million in crypto futures positions were liquidated over 24 hours, with bearish short bets accounting for roughly $470 million of the total.
The Crypto Fear and Greed Index recovered to 17, up from a low of 9 earlier in the week, but it remains deep in “extreme fear” territory.
Oil markets moved sharply in the opposite direction. WTI crude dropped to roughly $94 per barrel from Tuesday’s highs above $112, as the ceasefire raised hopes that the Strait of Hormuz would reopen to tanker traffic.
Altcoins Outperform
Altcoins broadly outpaced Bitcoin on the day. Zcash (ZEC) led the charge, surging 23% to $332.
AI-sector tokens also posted strong gains: Render climbed 8% to $2.04, Bittensor’s TAO rose 7% to $332, and NEAR Protocol gained 8% to $1.34. Internet Computer climbed 9% to $2.50.
Among large caps, Avalanche gained 6.5% to $9.19, Sui rose 6% to $0.92, Solana added 5% to $84, and XRP gained 4% to $1.35.
Morgan Stanley Launches Bitcoin ETF
Morgan Stanley’s spot Bitcoin ETF began trading on NYSE Arca on Wednesday under the ticker MSBT, making the bank the first major U.S. institution to issue a spot Bitcoin ETF under its own name.
The fund carries a 0.14% annual fee, undercutting BlackRock’s IBIT at 0.25% and every other spot Bitcoin ETF currently on the market. Coinbase provides BTC custody, while BNY Mellon handles cash custody and administration.
The debut comes on the heels of strong demand for existing ETFs.SoSoValue data showed U.S. spot Bitcoin ETFs pulled in $471 million in net inflows on April 6, the largest single-day intake since late February. Spot Ethereum ETFs attracted $120 million, reversing prior outflows.
Looking Ahead
Despite the sharp bounce, Bitcoin remains trapped in a multi-month range, trading between support at $62,000 and resistance at $75,000 since early February, a range defined largely by the geopolitical overhang from the Iran conflict.
Whether the rally continues depends on the ceasefire’s durability. Iran confirmed the two-week pause but cautioned that reopening the Strait of Hormuz faces “technical limitations” and requires coordination with its military. The country’s Supreme National Security Council stressed the agreement does not imply an end to the broader conflict.
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