$701M Crypto Bloodbath: Market Reels as U.S. Strikes Target Iran’s Nuclear Sites
Crypto markets got nuked today—just not the way Iran feared.
Liquidations skyrocketed past $701 million as geopolitical tensions sent shockwaves through digital asset prices. Turns out decentralized finance isn't so decentralized when fighter jets start flying.
Silver lining? At least the whales got liquidated before their yachts did.
U.S. attacks Iranian nuclear facilities
In a post on the Truth Social platform Sunday morning, President Donald TRUMP announced that the U.S. had carried out "very successful" attacks on three nuclear sites in Iran. "Iran's key nuclear enrichment facilities have been completely and totally obliterated," Trump said in a follow-up address to the nation.
The raids saw B-2 bombers strike Iran's fortified uranium enrichment facility at Fordo, while sites at Natanz and Isfahan were hit by submarine-launched Tomahawk missiles, according to U.S. Defense Department officials speaking to CBS News.
The attacks mark a a significant escalation in the ongoing conflict between Israel and Iran, with Israeli officials stating that they were "in full co-ordination" with the U.S. in planning the operation.
In a subsequent post on Truth Social, Trump stated that, "ANY RETALIATION BY IRAN AGAINST THE UNITED STATES OF AMERICA WILL BE MET WITH FORCE FAR GREATER THAN WHAT WAS WITNESSED TONIGHT." Iran's foreign minister Abbas Araghchi warned of "everlasting consequences," and stated that the country "reserves all options" to defend its national sovereignty.
On Polymarket, prediction markets put the odds of Iran closing the Strait of Hormuz before July at 46%, up from lows of 9% the previous day, while the odds of it taking place by the end of the year hit 57%, up from lows of 31% the day before. However, predictors remained sanguine on the chances of the U.S. officially declaring war on Iran before July, putting the odds at just 2%.
