The assassination of Ayatollah Ali Khamenei, Iran’s Supreme Leader and Marjai Taqleed for millions of Shia Muslims, in coordinated US-Israeli airstrikes marks a turning point not only for the Islamic Republic of Iran but for the wider West Asian region. His assassination removes a figure who for more than three decades stood at the apex of Iran’s political, military and religious order. Yet those expecting the immediate collapse of the Iranian system may be misreading both its structure and its history. Ayatollah Khamenei was not merely a head of state. As Supreme Leader, he exercised ultimate authority over foreign policy, the armed forces and the direction of the revolution. As Marjai Taqleed, a source of emulation in Shia jurisprudence, he embodied religious legitimacy that extended beyond Iran’s borders. His passing, therefore, creates a vacuum that is institutional as much as personal. Under Iran’s constitution, an interim council comprising President Masoud Pezeshkian, the judiciary chief, and a cleric ...
The newly created Polymarket wallets placed bets on the timing of a US strike against Iran, buying shares hours before the first explosions were reported in Tehran. Six Polymarket traders earned roughly $1 million after accurately betting that the United States would strike Iran before the end of February, triggering insider trading suspicions. The six wallets were all created in February and placed nearly all of their activity on contracts predicting the timing of a potential US attack, Bloomberg reported, citing data shared by analytics firm Bubblemaps SA. In several cases, shares were purchased only hours before explosions were first reported in Tehran, with some contracts acquired for around $0.10, per the report. Read more
Crypto markets stabilized after geopolitical shockwaves from US-Israeli air strikes on Iran rattled risk assets. Bitcoin climbed back toward $68,000 after US-Israeli strikes on Iran and the confirmed death of Iran’s Supreme Leader Ayatollah Khamenei. Bitcoin (BTC) prices reached $68,200 in early trading on Sunday morning on Coinbase, according to TradingView. The asset has now recovered all losses from its dip to $63,000 on Saturday, adding $5,000 in less than 24 hours following the news that the United States and Israel had commenced air strikes on Iran. Read more