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24 Mar 2026, 14:36

'Big Deal': Tether Signs Big Four Firm for First Full Audit

Tether has officially moved to silence its critics by engaging a "Big Four" accounting firm to conduct the most extensive inaugural audit in the history of financial markets.

24 Mar 2026, 14:35

Strait of Hormuz Fees: Iran’s Controversial $2M Passage Charge Shakes Global Shipping

BitcoinWorld Strait of Hormuz Fees: Iran’s Controversial $2M Passage Charge Shakes Global Shipping TEHRAN, Iran – March 2025 – Iran has begun imposing passage fees of up to $2 million on select commercial vessels transiting the Strait of Hormuz, according to a recent report by Walter Bloomberg. This strategic waterway, often described as the world’s most important oil transit chokepoint, now faces new financial barriers that could significantly impact global energy markets and maritime trade. The fees, reportedly demanded on an arbitrary, case-by-case basis rather than through a formalized tariff system, introduce substantial uncertainty for shipping companies navigating these crucial waters. Strait of Hormuz Fees: Understanding the New Financial Barrier The Strait of Hormuz represents a narrow maritime passage between the Persian Gulf and the Gulf of Oman. Furthermore, this 21-mile wide channel serves as a transit route for approximately 21 million barrels of oil daily. Consequently, this volume represents about 21% of global petroleum consumption. Iran’s new fee structure, reaching up to $2 million per vessel, creates a significant additional cost for energy transportation. Shipping industry analysts confirm that the fees appear selective rather than universal. For instance, tankers carrying crude oil from Gulf Cooperation Council countries might face different assessments than container ships or liquefied natural gas carriers. The required payment currency remains undisclosed, though regional experts speculate transactions might involve Iranian rials, euros, or cryptocurrencies to circumvent international sanctions. Key aspects of the new fee system include: Case-by-case assessment without published criteria Maximum reported fee of $2 million per transit Unclear payment mechanisms and currency requirements Selective application to specific vessel types and operators Historical Context of Maritime Transit in the Persian Gulf Iran’s relationship with international shipping through the Strait of Hormuz has experienced multiple tensions over decades. Previously, the United Nations Convention on the Law of the Sea established transit passage rights through international straits. However, Iran has historically claimed broader territorial waters than internationally recognized. This legal ambiguity now provides context for the current fee implementation. Maritime law experts reference the 1982 UNCLOS treaty, which guarantees innocent passage through territorial seas. Nevertheless, the convention allows coastal states to adopt laws relating to transit safety and environmental protection. Iran potentially leverages these provisions to justify its new financial requirements. Regional precedents include Egypt’s Suez Canal Authority, which charges standardized transit fees based on vessel size and type, creating a transparent system unlike Iran’s current approach. Economic Impacts on Global Energy Markets The Strait of Hormuz serves as the primary export route for petroleum from Saudi Arabia, Iran, the United Arab Emirates, Kuwait, and Iraq. Therefore, additional transit costs inevitably translate to higher global oil prices. Energy economists project that sustained $2 million fees could add $0.50 to $1.50 per barrel of oil, depending on vessel size and routing alternatives. Shipping companies currently face difficult calculations. They must decide whether to absorb the costs, pass them to consumers, or reroute vessels around the Arabian Peninsula. The latter option involves significantly longer journeys through the Bab el-Mandeb Strait and around Africa, increasing both time and fuel expenses. Major energy corporations, including Saudi Aramco and ExxonMobil, monitor the situation closely as they evaluate supply chain adjustments. Comparative Major Maritime Chokepoint Transit Costs Waterway Managing Authority Typical Fee Range Fee Transparency Strait of Hormuz Iran (partial control) Up to $2M (new) Low Suez Canal Suez Canal Authority (Egypt) $200K-$700K High Panama Canal Panama Canal Authority $100K-$500K High Strait of Malacca Indonesia/Malaysia/Singapore Pilotage fees only High Geopolitical Implications and Regional Security Concerns Iran’s unilateral fee implementation occurs against a backdrop of ongoing regional tensions. The United States Fifth Fleet, based in Bahrain, maintains a continuous presence in the Persian Gulf. Additionally, regional powers like Saudi Arabia and the United Arab Emirates have previously expressed concerns about freedom of navigation. International response remains measured, with diplomatic channels reportedly active behind the scenes. Naval analysts note that Iran’s Islamic Revolutionary Guard Corps Navy maintains significant assets near the strait. These include fast attack craft, missile batteries, and surveillance systems. Consequently, commercial vessels might perceive pressure to comply with fee demands despite legal questions. The International Maritime Organization has yet to issue formal guidance, though member states likely discuss the matter during private consultations. Regional stakeholders monitoring the situation: Gulf Cooperation Council member states International Energy Agency members Lloyd’s of London insurance market International Chamber of Shipping United Nations Security Council members Legal Perspectives on Transit Passage Rights Maritime law specialists emphasize that customary international law generally prohibits unilateral tolls on transit passage through international straits. The 1982 UNCLOS specifically addresses this issue in Part III. However, Iran has signed but not ratified the convention, creating legal ambiguity. Precedent cases, including the Corfu Channel dispute of 1949, established that states cannot arbitrarily interfere with innocent passage. Legal experts suggest affected shipping companies might challenge the fees through international arbitration. Alternatively, flag states could pursue diplomatic protection for their vessels. The International Tribunal for the Law of the Sea possesses jurisdiction over such disputes if both parties accept its authority. Meanwhile, practical compliance often precedes legal resolution in tense maritime environments. Operational Challenges for Commercial Shipping Shipping companies now face operational uncertainty when planning Persian Gulf transits. The arbitrary nature of the fee assessment complicates voyage budgeting and contract negotiations. Charter parties typically include clauses addressing unexpected port charges, but unprecedented transit fees create contractual gray areas. Insurance providers similarly evaluate whether war risk premiums should reflect this new financial exposure. Vessel tracking data indicates normal traffic volumes continue through the strait currently. However, shipping executives report increased contingency planning for alternative routes. The Cape of Good Hope diversion adds approximately 15 days to Asia-Europe voyages, significantly increasing fuel consumption and delaying deliveries. Container shipping, already facing schedule reliability challenges, might experience further disruptions from rerouting decisions. Conclusion Iran’s imposition of up to $2 million in Strait of Hormuz fees represents a significant development for global maritime trade and energy security. The arbitrary, case-by-case application without transparent procedures creates uncertainty for commercial shipping through this vital chokepoint. While the immediate impact on oil prices remains moderate, sustained implementation could reshape routing decisions and supply chain logistics. The international community continues monitoring the situation as diplomatic, legal, and commercial responses develop. Ultimately, the stability of this crucial waterway affects global economic stability, making resolution of these transit fee issues imperative for all trading nations. FAQs Q1: Why is the Strait of Hormuz so important for global trade? The Strait of Hormuz serves as the primary maritime passage for petroleum exports from the Persian Gulf. Approximately 21 million barrels of oil transit daily through this narrow waterway, representing about one-fifth of global oil consumption and one-third of seaborne traded oil. Q2: What legal authority does Iran have to charge these transit fees? International law governing transit passage through straits remains contested. While customary law and the UN Convention on the Law of the Sea generally prohibit unilateral tolls, Iran has not ratified the convention and claims broader territorial waters than internationally recognized, creating legal ambiguity. Q3: How are shipping companies responding to these new fees? Shipping companies currently evaluate multiple responses, including absorbing costs, passing them to consumers, rerouting vessels, or challenging the fees legally. Most continue transiting the strait while increasing contingency planning for alternative routes around Africa. Q4: What alternative routes exist for avoiding the Strait of Hormuz? The primary alternative involves sailing around the Arabian Peninsula and Africa via the Cape of Good Hope. This adds approximately 15 days to Asia-Europe voyages and significantly increases fuel consumption, making it economically viable only with sustained high fees or security concerns. Q5: How might these fees affect global oil prices? Energy economists estimate that sustained $2 million fees could add $0.50 to $1.50 per barrel of oil, depending on vessel size and routing decisions. The impact remains moderate initially but could increase if fees become standardized or if significant rerouting occurs. This post Strait of Hormuz Fees: Iran’s Controversial $2M Passage Charge Shakes Global Shipping first appeared on BitcoinWorld .

24 Mar 2026, 14:32

Shiba Inu OI Spikes 18% Amid Biggest Price Move in Weeks

Shiba Inu open interest sharply rose as SHIB reversed price losses.

24 Mar 2026, 14:30

How Is Bitcoin Price Following A 100-Year Pattern If It’s Only 16 Years Old? Expert Tells All

Crypto analyst Merlijn has revealed that the Bitcoin price is following a 100-year pattern, which could determine its next move. The analyst also highlighted key levels, which would determine whether the leading crypto breaks out or breaks down. Bitcoin Price Is Following a 100-Year-Old Pattern In an X post , Merlijn noted that the Bitcoin price is following this structure that Jesse Livermore mapped in the 1920s, with the leading crypto following every step perfectly. The analyst said that a BTC hold above $70,000 would confirm the next leg, while a drop below $60,000 would mean accumulation would extend. The analyst’s accompanying chart showed that the Bitcoin price could rally to as high as $170,000 based on this Livermore Accumulation pattern . This rally to a new all-time high (ATH) of $170,000 is expected to happen by the end of the year or at the start of 2027. That price level is expected to mark a top for the leading crypto, which could then drop to $90,000. In another X post , Merlijn indicated that the Bitcoin price is likely to see another leg down. This came as he noted a BTC descending channel with one move left. The analyst said that higher lows within the channel have been made, while rejections at resistance have occurred, so a final flush to $45,000 looks likely. Once the Bitcoin price sees that final flush to $45,000, Merlijn predicts the leading crypto could then break out to $140,000. Meanwhile, the final flush to $45,000 could be invalidated if BTC holds $65,000 and the descending channel breaks. However, the max pain target activates if BTC were to lose that price level. BTC Entering Final Discount Zone Crypto analyst Ali Martinez said that the Bitcoin price is approaching the final discount window before the next bull market if history repeats itself. He further remarked that if the fractal holds, then there could be a golden entry window between October 6 and October 16. Meanwhile, the buy zone would be between $41,500 and $45,000. Martinez added that this could be the launchpad to start a new 4-year cycle for the Bitcoin price. “The countdown to the next Bitcoin vertical move has begun,” he said. The analyst had recently noted that the BTC price was stuck in a no-trade zone and that it is a waiting game right now. He warned that there won’t be a big move until the leading crypto either breaks above $70,685 or falls below $65,636, a level that Merlijn highlighted. At the time of writing, the Bitcoin price is trading at around $70,600, up over 3% in the last 24 hours, according to data from CoinMarketCap.

24 Mar 2026, 14:30

Ripple CTO Emeritus Says Bitcoin’s Decentralization Doesn’t Come From PoW

David Schwartz, former CTO of Ripple, recently argued that Bitcoin's decentralization does not come from its use of the PoW mechanism. Schwartz's latest comments followed a recent event where a single mining entity showed significant control. Visit Website

24 Mar 2026, 14:30

Oobit unveils business platform for running company finances on stablecoins

Oobit has launched Oobit Business, a new platform that enables companies to run corporate finance operations directly from stablecoin balances. The milestone marks the latest move for the Tether-backed crypto payments app in its effort to integrate stablecoins with day-to-day spending and now in running company operations. It also strategically coincides with the growing adoption of stablecoin-native infrastructures by financial institutions across the world. Analysts at JP Morgan estimate the trajectory could trigger an increase in the demand for US dollars by an additional $1.4 trillion by 2027. “What we are seeing is the next phase of stablecoins,” said Amram Adar, CEO at Oobit. “Not as a feature. Not as an integration. But as the system companies run on.” According to the official announcement, the Oobit Business Crypto Card is designed to bridge the existing gap between stablecoin treasuries and company operations. Companies can now issue corporate cards, manage spending, and make global payments to teams or vendors, directly spending from their stablecoin balances. Oobit Business also includes the app’s crypto-to-bank transfer feature, which companies can leverage for their operations. The platform operates like a plug-and-play infrastructure, allowing companies to use the complete financial stack without the need to build their own infrastructure or integrate APIs. Oobit’s CEO further stated that Oobit Business addresses a unique pain point. Rather than integrating stablecoins into existing workflows, this platform unifies companies’ operations into a single system powered by their stablecoin treasuries. "Most of the market is focused on helping companies add stablecoins to what they already have," Adar added. "We are focused on something different. We are replacing the system entirely." Stablecoins move from infrastructure to operations Corporate cards issued through Oobit Business are compatible with over 150 million Visa-accepting merchants worldwide. Additional global payment rails such as PIX, ACH, and SEPA facilitate seamless interactions with the traditional banking system when necessary. The announcement also noted that onboarding is seamless, taking less than 24 hours for companies to begin stablecoin-backed financial operations. Stablecoins are moving beyond their infrastructure phase into core business operations. A report by Fireblocks revealed that out of 300 financial institutions surveyed, 49% were already using stablecoins as of June 2025. Since then, the total market cap of stablecoins is up around 25%, from $252 billion to $315.67 billion as of writing. Despite this growth, stablecoins barely account for 0.1% of the global transaction volumes in payments and corporate operations at large. Oobit Business is designed to accelerate adoption on this front by providing businesses with a platform to run more financial functions apart from the typical use cases, which include holding as treasury, trading, and cross-border transfers. The post Oobit unveils business platform for running company finances on stablecoins appeared first on Invezz