Bitcoin BTC$63,468.02 and Asian stocks fell Friday after fresh U.S. airstrikes on Iran raised geopolitical uncertainty. Additionally, President Donald Trump’s allegations that China tampered with the 2020 election hurt risk sentiment, sending the Australian dollar lower.

BTC, the leading cryptocurrency by market value, slipped to $63,600, extending Thursday’s nearly 1.4% slide from $65,000, according to CoinDesk data. As of this writing, the cryptocurrency traded just below its 50-day simple moving average, the widely-tracked gauge of near-term momentum.

Asian equity markets wilted, with Japan’s Nikkei trading nearly 3% lower at its lowest in over a month. Australia’s ASX 200 slipped by 0.5% alongside a 0.8% drop in futures tied to Nasdaq. Wall Street’s tech-heavy index fell by over 1.6% on Thursday.

Iran’s semi-official Fars news agency quoted Hormozgan Province Governorate, saying that U.S. airstrikes have hit five bridges in the southern Hormozgan province. A missile strike also hit Iran’s Chabahar maritime control tower. Surprisingly, WTI oil futures held steady at around $79 per barrel, ignoring the geopolitical stress from the fresh wave of U.S. attacks on Iran.

Venezuela’s USDT market is handling volumes that now rival one of the country’s largest sources of foreign currency.

Ecoanalítica estimated that 1.389 billion USDT changed hands on Binance’s peer-to-peer market between June 11 and July 13, equal to about 44 million USDT per day.

The research firm estimated that the volume represented about 75% of Venezuela’s monthly oil export value. However, a separate calculation using June crude exports and the average price of Merey crude places the ratio closer to 52%, showing that the comparison depends on the method and reference period used.

Binance P2P becomes a major foreign-currency channel

Ecoanalítica developed a method to estimate the size of Binance’s P2P market in Venezuela. According to the firm, the results show how the platform has moved from a small alternative market into a major channel for buying and selling dollar-linked value outside the traditional banking system.

The 1.389 billion USDT volume also equaled about 64.2% of the $2.163 billion in foreign currency supplied by the Central Bank of Venezuela during June, based on figures cited by CriptoNoticias. 

USDT Trading in Venezuela Now Rivals the Country’s Oil Exports

Between June 11 and July 13, about 1.389 billion USDT was traded on Binance’s peer-to-peer market in Venezuela, averaging roughly USD 44 million a day. Ecoanalítica, a Venezuelan economic research firm, estimated…

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— Wu Blockchain (@WuBlockchain) July 17, 2026

The central bank increased its supply by 36% from May as it sought to reduce pressure on the bolivar. Ecoanalítica placed the comparison at 88%, although it did not publish enough detail to verify the difference.

USDT trades at a premium to Venezuela’s official dollar rate

Meanwhile, USDT traded around 840 bolivars on local P2P markets, about 15.5% above the official exchange rate of 727 bolivars per U.S. dollar on July 16. The spread remained narrower than earlier in 2026, when the difference between official and alternative rates stood near 30%.

Ecoanalítica director Alejandro Grisanti said Binance had gone “from being a marginal market to becoming one of the main channels for buying and selling foreign currency.” He also said P2P activity could slow if formal banks regain more capacity to supply foreign currency. As a result, users could shift some transactions back to traditional financial platforms.

Oil figures leave the 75% estimate open to question

Venezuela exported about 1.2 million barrels of crude per day in June, while the average price of Merey crude fell to $71.13 per barrel from $82.77 in May. Using those figures, monthly crude export value would stand near $2.56 billion, putting the reported USDT volume at roughly 52% rather than 75%.

The difference may reflect another export price, reference period, or method used by Ecoanalítica. However, Grisanti did not provide the full calculation behind the 75% figure. Therefore, the oil comparison remains an estimate, while the reported Binance P2P volume stands at 1.389 billion USDT for the period.

Stablecoins remain tied to Venezuela’s oil and dollar market

The latest figures add to a longer shift toward stablecoins in Venezuela. As crypto.news previously reported, state oil company PDVSA had been gradually moving some crude and fuel sales toward USDT as U.S. sanctions made conventional payment channels harder to use. That development connected the country’s oil trade with the same dollar-linked token now widely traded in its domestic P2P market.

More recently, as crypto.news reported in April, Tether said it had frozen more than $344 million in USDT linked to sanctions evasion and criminal networks in cooperation with U.S. authorities. The report also noted earlier concerns about PDVSA’s use of USDT. The latest P2P estimates now place stablecoin trading at a scale comparable with major official and export-related foreign-currency flows.

Trump Media & Technology Group (TMTG), the company behind the Truth Social platform, says it is preparing to launch a paid API that will let institutional Wall Street users pull posts from selected high-impact Truth Social accounts in real time.

In a filing with the U.S. Securities and Exchange Commission, TMTG states the “Truth API” is expected to be available to institutional customers starting Aug. 1, 2026. The service is designed for low-latency, machine-readable access—useful for high-frequency and algorithmic trading firms that want faster integration than manual browsing or slower data collection methods.

Key takeaways

• Trump Media is launching a paid Truth Social API aimed at institutional customers and market data workflows.
• Availability is targeted for Aug. 1, 2026, with a focus on real-time, licensed content from influential accounts.
• The API is intended for algorithmic and high-frequency trading that prioritizes low latency and machine readability.
• TMTG says scraping prior approaches violate its terms and that the company wants to increase friction for non-direct data collection.
• Truth Social posts have previously been cited as market-moving, including posts connected to U.S.–Iran developments.

A licensed, real-time feed for institutions

According to TMTG’s SEC filing, the Truth API is positioned as a direct, licensed channel for retrieving posts from Truth Social’s most “market-moving” accounts. The company is explicitly pitching the product to professional trading and market data users that need data in a format that systems can ingest quickly.

The filing emphasizes that the API is meant to deliver a real-time feed, tailored for scenarios where timing matters—especially for automated strategies. That framing matters to investors and market participants because it acknowledges a practical reality: social-media headlines and posts can influence how quickly traders react, and the gap between posting and data availability can affect execution.

Low latency and “friction” for scraping

In comments tied to the rollout, TMTG’s interim CEO Kevin McGurn said that Truth API provides a direct licensed stream of the platform’s “most market-moving Truths,” while also supporting the company’s goal of monetizing proprietary assets through recurring revenue.

The company also drew a line around how data should be obtained. In the filing, McGurn says companies have previously attempted to scrape Truth Social data, which he characterizes as a violation of the platform’s terms of service. He adds that Truth API is expected to “create a lot of friction” for those who do not come to the company directly.

For market participants, this shift is significant. Scraping-based approaches typically come with reliability and compliance risks—such as sudden changes in access patterns, blocking, or disputes over licensing. A formal API, by contrast, signals a more structured data pipeline that may be easier to incorporate into regulated or vendor-driven workflows.

Which accounts are in scope

TMTG’s announcement highlights that the API is intended to deliver posts from influential accounts, including Donald Trump (as President and as the operator of the Truth Social account named in the filing). The SEC documentation also references other major figures on the platform, including Donald Trump Jr, Eric Trump, and FBI Director Kash Patel.

Separately, the company points to prior instances where posts from Trump’s Truth Social account were associated with market attention. The article notes examples tied to the ongoing conflict between Iran and the U.S.—a reminder that Truth Social content is being watched not only as political commentary, but as a potential driver of market narratives.

Even with the API’s focus on “market-moving” accounts, investors should consider a key uncertainty: the SEC filing and the accompanying description do not spell out—within the provided text—exactly how “market-moving” is determined, how frequently the account set could change, or what latency benchmarks will be provided to customers.

Why an API matters for trading workflows

Social-media data has long been used in trading, but the quality of that data pipeline—particularly speed, structure, and licensing—often determines whether it can be reliably used for automation. By targeting low-latency delivery to institutional users, TMTG is effectively positioning Truth Social as a more integration-ready source of information for quantitative systems.

Just as importantly, the company’s approach frames the business model: rather than relying on incidental discovery or indirect data access, TMTG is attempting to convert platform influence into a recurring, licensed data service. The “high-margin, recurring revenue stream” language in McGurn’s statement suggests the API is intended to become a durable line of monetization, not a one-off product experiment.

As Aug. 1, 2026 approaches, market observers will likely watch for more operational details—especially how the API will handle access controls, content eligibility, and real-time performance expectations for institutional customers. Those specifics will determine whether Truth API becomes a practical component of algorithmic strategies or remains largely a compliance-first licensing alternative.

Trump Media, the company that operates the Truth Social network, said Thursday it was launching a new paid-for API that gives Wall Street firms “the fastest” access to posts from the most influential Truth Social accounts, including US President Donald Trump.

The API is targeted to be available to institutional customers from Aug. 1, 2026, and is aimed at high-frequency and algorithmic trading firms that require a low-latency, machine-readable feed, said the company on Thursday. 

“Markets already move on Truth Social posts,” said Kevin McGurn, interim CEO of TMTG in a statement. “Truth API delivers a direct, licensed, real-time feed of the platform’s most market-moving Truths while advancing our strategy to monetize proprietary assets through a high-margin, recurring revenue stream.”

Posts from Trump’s Truth Social account have moved markets, with the most recent examples being his posts relating to the ongoing conflict between Iran and the US. Other major accounts on Truth Social include Donald Trump Jr, Eric Trump and FBI Director Kash Patel. 

“Companies have previously tried to scrape data from Truth Social, which is in violation of its terms of service,” McGurn said, according to CNN. 

“We’re going to create a lot of friction for those folks that aren’t coming to us directly,” he added.

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Network School founder Balaji Srinivasan says he is seeking a memorandum of understanding with Malaysia after Malaysian authorities probed his Forest City tech community over allegations that it may have hosted Israeli citizens using second passports. Malaysia’s Home Affairs Ministry said it is investigating the start-up community in Johor following claims that Israelis were present in violation of immigration rules.

The situation underscores a challenge for crypto-adjacent “digital utopia” projects: even when communities aim to build their own institutions and economies, they still rely on conventional nation-states for legal certainty. Srinivasan has linked the next phase of his Malaysia expansion plans to getting that assurance.

Key takeaways

• Malaysia’s Home Affairs Ministry is investigating Network School in Johor after allegations of Israeli nationals using second passports.
• Authorities’ initial checks reportedly found that 266 foreign residents held valid documents.
• Srinivasan is asking Malaysia for written assurances—possibly a memorandum of understanding or changes tied to a special economic zone.
• He says further investment in Malaysia, including a $122 million expansion plan, is on hold pending “sufficient assurance” that issues won’t repeat.

Malaysia investigation follows immigration-related claims

Malaysia’s Home Affairs Ministry said Tuesday that it is investigating Network School’s operations in Johor after claims surfaced alleging that the community included Israelis who may have breached immigration laws. In an early review, the ministry said it found no immediate documentary irregularities—reportedly confirming that 266 foreigners under the initiative had valid documents.

According to the ministry’s statement, the probe is tied to specific allegations rather than a blanket rejection of the project. Still, the inquiry puts Network School’s continued ability to attract and house foreign participants under closer scrutiny.

Srinivasan pushes for written legal certainty

Srinivasan said the reason for pursuing an agreement with Malaysia is to provide Network School with “legal certainty” that would allow it to continue investing and operating in the country. Without such a document, he suggested, the community could redirect its capital elsewhere.

In a video addressed to Malaysian Prime Minister Anwar Ibrahim, Srinivasan said he wants more than general statements welcoming tech; he wants personal, written confirmation that Network School will be considered welcome. He also indicated he is open to different legal mechanisms, including a memorandum of understanding or modifications tied to a special economic zone provision.

While Srinivasan did not lay out specific terms publicly, his messaging focused on predictability: investors and community operators need clarity about the legal status of participants, not just broad political signals.

He also said he is pausing any further investment in Malaysia, including a planned $122 million expansion, until he receives “sufficient assurance” that the immigration issues raised during this episode do not recur.

How the allegations surfaced

Claims that Network School was harboring Israeli citizens were traced back to an Instagram post from “Malaysian Protest 4 Palestine,” an activist group that accused the school of becoming a “gathering place for Israeli entrepreneurs.” In its course of action, the post helped spur immigration scrutiny that then moved to the Malaysian Home Affairs Ministry.

Malaysian policy on entry for Israeli passport holders is central to the dispute. The article notes that Israeli passport holders are forbidden from entering Malaysia, a Muslim-majority country, without written permission from the Malaysian Ministry of Home Affairs—reflecting Malaysia’s lack of diplomatic relations with Israel and its stated position of not recognizing Israel.

Importantly, while the investigation is ongoing, the ministry’s initial checks reportedly did not find immediate evidence—at least at the documentation level—that foreign residents lacked valid paperwork. That creates a key uncertainty going forward: authorities may still need to determine whether the allegations relate to residency status, identity verification, the use of alternate travel documents, or other aspects not covered by “valid documents” alone.

Why this matters for crypto-linked community models

Beyond the specifics of one tech community, the episode reflects a recurring tension for crypto-leaning projects that describe themselves as building new social and economic systems. Such initiatives often emphasize borderless or community-driven norms, but they still require host governments to provide stable, enforceable rules—especially when the project involves foreign nationals and long-term operations.

For investors and participants, the difference between informal tolerance and formal assurance can determine where capital goes next. Srinivasan’s decision to pause a large expansion plan suggests Network School is treating immigration uncertainty as a material risk to its business continuity, not a temporary public-relations issue.

If Malaysia provides the kind of written clarity Srinivasan is requesting, the project could regain confidence for future fundraising and staffing. If not, the story hints at a broader pattern: even when “build-first” communities develop successfully, compliance and policy certainty may become the bottleneck.

Readers should watch for what Malaysia’s Home Affairs Ministry concludes in the investigation, and whether any formal agreement—such as a memorandum of understanding or changes tied to existing special economic zone rules—emerges that addresses the specific compliance concerns raised in this case.