A spokesperson for the Democratic National Committee decried the move as “an opportunity to use the power of the presidency to make [Trump] and his family even richer.” Some of the fighters in Sunday's Ultimate Fighting Championship (UFC) event on the White House lawn will be paid bonuses in stablecoins issued by the Trump family crypto company World Liberty Financial. On Monday, World Liberty confirmed that UFC would pay up to $250,000 in bonuses using USD1, the US dollar-pegged stablecoin issued by the company. UFC had previously made a similar announcement before the event. The price of USD1 jumped above $1 on June 12 and remained there, according to CoinMarketCap data at last look. Trading volume in the past 24 hours was up more than 93%, at $2.38 billion. Read more
US President Donald Trump says the US and Iran have a deal for a “toll-free opening of the Strait of Hormuz,” sending Bitcoin to a two-week high. Bitcoin came just shy of $66,000 during Monday morning trading after US President Trump claimed that the US had brokered a peace deal with Iran that would reopen the Strait of Hormuz. “The deal with the Islamic Republic of Iran is now complete. Congratulations to all!” Trump posted on his Truth Social platform late on Sunday. “I hereby fully authorize the toll-free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade,” Trump said. “Ships of the World, start your engines. Let the oil flow!” Read more
Bitcoin stayed near local highs on a new US-Iran peace deal pledge as analysis saw conditions favoring a sustained BTC price rebound. Bitcoin (BTC) circled $64,000 into Sunday’s weekly close as a US-Iran peace deal appeared imminent. Key points: Read more
Crypto analyst Michaël van de Poppe said a peace deal, which would reopen the Strait of Hormuz, would likely send liquidity back to risk-on assets such as cryptocurrencies. US President Donald Trump said a deal to end the fighting between the US and Iran is scheduled to be signed on Sunday, despite officials in Tehran previously casting doubt on the timeline. “The Deal is scheduled to get signed tomorrow, and immediately after it is signed, the Hormuz Strait is OPEN TO ALL,” said Trump on Truth Social on Saturday. Read more
HTX said World Liberty froze its addresses and has responded by delisting and suspending the platform’s token. HTX, the crypto exchange linked to crypto entrepreneur Justin Sun, delisted the Trump family’s USD1 stablecoin after claiming World Liberty Financial wrongly froze the exchange’s addresses. “The World Liberty Financial (WLFI) project team recently stated that it has unilaterally imposed a freeze on specific HTX on-chain addresses based on sanctions compliance reviews,” said HTX on Saturday. “As a result, the on-chain circulation of certain WLFI assets associated with these addresses has been restricted,” it said, adding it delisted USD1 to safeguard user assets. Read more
Bitcoin price headed below $72,000 on Iran woes as US President Donald Trump told observers to "sit back and relax" with a ceasefire still unresolved. Bitcoin (BTC) heads into June with new local lows as the US-Iran war drives crypto market nerves. News of strikes on Iranian targets keep the Middle East conflict firmly on the radar as a source of crypto market volatility this week. Exchanges of fire meant that BTC price action quickly came under pressure following the monthly close, dropping below $73,000. Read more