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1 May 2026, 13:27

Bitcoin US Demand Weakening: Coinbase Premium Negative

US Demand for Bitcoin is Weakening: Coinbase Premium Turns Negative, Realized Losses Surge to 5.97B$. Selling Pressure Eases After April Rally. BTC Around 78K, Strong Support at 75K. Details with T...

1 May 2026, 13:08

Iran’s rial hits 1,800,000 per dollar, extending sharp decline

Iran’s rial extended its decline to a record low in April 2026, reflecting mounting economic pressure tied to U.S. actions and ongoing regional tensions. Data tracking the open market exchange rate shows the currency falling to 1,800,000 rials per U.S. dollar on April 29. The move follows a long-term devaluation trend that began in early 2025 and expanded in recent months. At the start of 2025, Iran’s rial traded near 800,000 per dollar, moving within a narrower range during the first half of the year. However, the second half marked a turning point, as the currency weakened more consistently. By September, it had crossed 1,100,000, then climbed past 1,300,000 in December and continued its decline into 2026. Iran’s rial decline accelerates under pressure Iran’s rial recorded short-term volatility in early 2026, but the overall trend remained negative. By late April, the surge to 1,800,000 marked the highest level recorded in the reported period. Meanwhile, U.S. Treasury Secretary Scott Bessent pointed out the economic pressure came from the U.S. campaign Operation Economic Fury. He said the campaign aims to disrupt financial networks by seizing assets, freezing accounts and preventing global financial transactions. Bessent said that almost $500 million has been seized in Iranian crypto assets . He also reported that the U.S. is freezing accounts and monitoring assets overseas, including properties and savings associated with Iran. He said the campaign has been ongoing for more than a year and has been ramped up since orders issued in March 2025. Inflation rises as economic conditions tighten Iran’s rial depreciation coincides with rising domestic inflation. Data from Iran’s central bank shows annual inflation increased from above 40% before the conflict to 50% as of April 4. The change reflects rising costs for essential goods. Prices for items such as rice, eggs, and chicken have increased during the same period. The shift has followed reduced access to foreign currency and disruptions in trade flows. Imported goods, including food, medicine, and raw materials, remain directly affected by exchange rate movements. In addition, according to Cryptopolitan’s earlier report , the blockade on Iranian ports has reduced access to oil revenues and limited foreign currency inflows. This restriction has affected a key source of government income. As a result, economic pressure has continued to build alongside currency depreciation. Strait of Hormuz tensions and global impact Iran’s rial has moved alongside geopolitical tensions in the Strait of Hormuz . The waterway handles a large share of global oil and gas trade during peacetime. Its closure has disrupted supply chains and contributed to rising global fuel and related goods prices. Although Iran and the United States agreed to a ceasefire on April 8, tensions remain. The U.S. imposed a blockade on April 13, further limiting Iran’s ability to generate revenue from exports. Meanwhile, U.S. President Donald Trump rejected a proposal from Iran to reopen the strait in exchange for easing restrictions. The proposal aimed to delay discussions on Iran’s nuclear program, leaving key disagreements unresolved. As a result, the standoff has continued, with multiple countries calling for the reopening of the route for economic and humanitarian reasons. The smartest crypto minds already read our newsletter. Want in? Join them .

1 May 2026, 12:45

Trader Opens $1.96M MEGA Long at 1x Leverage, Already Down $402K

An onchain trader has opened a $1.96 million leveraged long on 11.96 million MEGA tokens and is already sitting on $402,000 in unrealized losses, a harsh reminder that altcoin risks do not disappear even when leverage is minimal. Key Takeaways: Trader 0xcc15 opened a $1.96 million leveraged long on 11.96M MEGA tokens and is already

1 May 2026, 12:30

Bitcoin Gives US Leverage Against China, Defense Secretary Hegseth Says

Defense Secretary Pete Hegseth told Congress that Bitcoin can serve as a tool of US strategic leverage, linking the asset to classified Pentagon efforts and a broader competition with China. The comments mark one of the clearest public signals yet that parts of the US defense establishment now view BTC not only as a financial network, but as a national security domain. The exchange came during an April 30 congressional hearing , when Rep. Lance Gooden pressed Hegseth on whether Bitcoin should be treated as an instrument of power projection. Gooden framed the issue through the lens of adversarial use, arguing that BTC has moved from a marginal asset to a strategic concern for Washington. “Over the past decade, Bitcoin has evolved from a fringe asset into a matter of national security,” Gooden said. “Iran has demanded Bitcoin as a toll for transit through the Strait of Hormuz . North Korean cyber actors have leveraged it in ransomware campaigns, and China is believed to be stockpiling substantial holdings as part of a strategic reserve.” Gooden then linked those concerns directly to the Indo-Pacific theater, citing recent testimony from Admiral Samuel Paparo, the commander of US Indo-Pacific Command. He said Paparo had stated that Bitcoin has “direct implications for power projection” and noted that USINDOPACOM was operating a Bitcoin node in furtherance of that mission. Bitcoin Becomes Pentagon Focus That framing put Hegseth in a position to answer a question that would have sounded unusual in a defense hearing only a few years ago: whether Bitcoin is a tool to project power, and whether the department is working to secure a US advantage against China’s “digital authoritarianism.” Hegseth’s answer was brief but unusually direct. “I guess my short answer would be yes and yes,” he said. “Long an enthusiast of Bitcoin and crypto potential. And a lot of the things we’re doing, enabling it or defeating it, are classified efforts that are ongoing inside our department, which do provide us a lot of leverage in a lot of different scenarios. I appreciate that. And I share your views.” The phrase “enabling it or defeating it” is the key policy signal. Hegseth did not describe BTC simply as an asset to be held, regulated, or monitored. He framed the Defense Department’s work around two operational tracks: using the technology where it creates strategic advantage, and countering it where adversaries use it against US interests. The comments also build on Paparo’s earlier testimony . On April 21, Paparo told the Senate Armed Services Committee that Bitcoin can be relevant to American “power projection,” adding that “anything that supports all instruments of national power for the United States of America is to the good.” A day later, Gooden’s office said Paparo told the House Armed Services Committee that the US military was using a Bitcoin node to help “secure and protect networks.” At press time, BTC traded at $77,168.

1 May 2026, 11:49

XRP Leverage Hits Zero on Binance — Is Another 6x Run Loading?

XRP Flashpoint: Zero Binance Leverage and Whale Outflows Fuel $8.28 Rally Speculation Market analyst Xaif Crypto notes that XRP is beginning to show sentiment patterns similar to those seen ahead of its earlier breakout this year. A key signal is Binance leverage for XRP, which has dropped to 0, levels last observed in early 2024 just before the asset surged by around 6x. In the previous cycle, extremely low leverage conditions were followed by a sharp price expansion as liquidity returned and positioning flipped quickly. If history repeats in a similar pattern, XRP could be entering a comparable setup, with a speculative upside target around $8.28 from current levels of $1.38. Well, the resemblance to past market structure has renewed attention among market participants closely watching derivatives positioning and liquidity trends. Beyond leverage metrics, attention is shifting to Binance flow data. Xaif Crypto points to unusual XRP outflows, with whales now accounting for roughly 56.4% of daily withdrawals. Even more striking, this surge has printed twice in succession, suggesting a clear uptick in large-holder accumulation. In market terms, rising exchange outflows typically indicate tokens being moved into private wallets, tightening available sell-side liquidity. This steady quiet rotation of big holdings, as some analysts put it, is being closely monitored as a potential early-stage accumulation phase rather than distribution. XRP’s $1.36 Support Holds the Line as $1.45 Liquidity Cluster Sets Up a Potential Breakout Zone XRP is trading just above a key technical threshold, with $1.36 emerging as a critical support level that could define the next move. If this zone holds, it strengthens the case for continued bullish momentum within the current consolidation. A breakdown below it, however, could shift sentiment and open the door to deeper retracement levels as sellers regain control. On the upside, the $1.45 zone is drawing close attention as it builds into a dense liquidation cluster. Analysts are increasingly viewing it as a liquidation magnet, where a sharp move higher could force leveraged short positions to unwind. In fast-moving conditions, zones like this often act as short-term accelerators, intensifying price swings once triggered. Therefore, zero leverage conditions, rising whale outflows, and tightly stacked liquidation levels place XRP at a decisive point. The next major move will likely hinge on how price behaves within the $1.36–$1.45 range in the sessions ahead, either setting the stage for a breakout or extending consolidation.

1 May 2026, 11:30

CEO Behind $4.7 Billion Crash Banned From Crypto, But How Will This Work?

Celsius founder Alexander Mashinsky, who was responsible for the $4.7 billion 2022 crypto crash, has been banned from crypto. This forms part of a $10 million settlement with the Federal Trade Commission (FTC) while the crypto founder continues to serve a 12-year sentence. Celsius Founder Banned From Crypto As Part of $10 Million FTC Settlement A court order filed by the FTC shows that the Celsius founder is permanently banned from crypto. The order stipulates that Mashinsky is not allowed to advertise, market, promote, offer, distribute, or assist in doing any of these things with respect to products or services used to deposit, exchange, invest, or withdraw assets. Related Reading: Here’s What Happened In The Donald Trump Crypto Meeting With $TRUMP Holders This crypto ban forms part of a $10 million settlement with the FTC. The order included a $4.72 billion monetary judgment against the Celsius founder in favor of the Commission. This sum relates to Mashinsky’s role in the 2022 crash of his crypto lending platform, which left customers unable to access $4.7 billion in deposits. However, this monetary judgment is suspended, and Mashinsky has been ordered to pay $10 million to satisfy this monetary relief. The order also noted that the crypto founder shall be deemed to have satisfied the payment obligation if he pays this amount to the Department of Justice (DOJ) pursuant to the forfeiture order entered in his criminal case. It is worth noting that the Celsius founder is currently serving a 12-year sentence for fraud and market manipulation. The crypto founder had pleaded guilty in 2024 to committing commodities fraud and securities fraud at Celsius and was subsequently sentenced last year. The prosecution revealed that Mashinsky had used customers’ assets to place risky bets and to “line his own pockets.” In addition to his prison term, the Celsius founder was also sentenced to three years of supervised release and ordered to pay a $50,000 fine and forfeit $48 million. Crypto Founder Denied New Trial In Fraud Case Sam Bankman-Fried (SBF), who was convicted for fraud like Mashinsky, has had his request for a new trial denied. According to an ABC report, a federal judge denied SBF’s request for a new trial, rejecting the FTX founder’s claims that there are new witnesses in his case who could give evidence that would clear him of any wrongdoing. Related Reading: Crypto Decentralization Myth Busted: ETH And USDT Freezes Unveil A Shocking Truth The judge described this claim as baseless. SBF is currently serving a 25-year prison sentence for his role in the collapse of defunct crypto exchange FTX. Bankman-Fried was found to have used up to $8 billion in customers’ funds for his personal projects. However, he continues to deny any wrongdoing despite being found guilty, stating that his exchange was always solvent. It is worth noting that SBF was also seeking a pardon from U.S. President Donald Trump, but the White House has revealed that Trump has no plans to pardon him. Featured image from iStock, chart from Tradingview.com