Geopolitical tensions trigger crypto decline
Major cryptocurrencies experienced notable declines following US airstrikes on Iran’s nuclear facilities, with Bitcoin falling 2.8% and Ethereum dropping 9%. The digital asset market proved vulnerable to geopolitical shocks despite previous claims of being uncorrelated with traditional markets.
The cryptocurrency selloff reflects broader risk-off sentiment as investors moved away from speculative assets amid Middle East uncertainty. Bitcoin’s decline, while notable, remained relatively modest compared to Ethereum’s larger retreat.
Technology and institutional developments continue
Despite market volatility, cryptocurrency venture capital funding remained resilient with $159.50 million raised across 18 projects. EigenLayer led funding rounds with a substantial $70 million raise, demonstrating continued institutional interest.
Reddit is exploring iris-scanning technology through World ID to enhance identity verification while preserving user anonymity. This development could significantly impact how social media platforms handle user authentication.
Texas passed legislation establishing a state-managed Bitcoin reserve as an inflation hedge, marking another milestone in institutional cryptocurrency adoption at the government level.
Elon Musk’s X platform continues developing in-app investment and trading features, aiming to transform the social media platform into a comprehensive financial services application.
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