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General News

Iran hints at circumventing payments in yuan and bitcoin, signs of cracks in petrodollar system

The petrodollar system is being shaken by the fallout from the U.S.-Iran war, with signs of cracks in the dollar-based structure for global oil trade. War risk in the Gulf has raised concern about dollar shortages, and UAE officials have discussed possible financial backstops with the United States. Iran is reported to have imposed yuan-denominated passage fees in the Strait of Hormuz and has also signalled possible use of bitcoin-based fees.

Crypto

UAE investors buy AI on dips, keep crypto exposure despite Middle East conflict

UAE investors have selectively bought AI and technology stocks despite rising tensions in the Middle East, showing a clear trend of rebalancing portfolios while keeping conviction in long-term growth themes. Data released by eToro showed higher allocations to software and AI infrastructure names that fell sharply in the first quarter. Crypto-related exposure also remained intact, while regulators and companies maintained operations even as security concerns and short-term risks persisted.

Crypto

Monad hires executives from FalconX, BVNK and Optimism to speed Layer 1 scaling

Monad Foundation has hired three senior executives from Optimism, FalconX and BVNK to accelerate the scaling of its Layer 1 blockchain, Cointelegraph reported. Urvit Goel joined as vice president of market strategy, Joannita Titan as head of institutional growth and Sagar Sarvai as head of Asia-Pacific. Cointelegraph said they have experience at JPMorgan, Deutsche Bank, Anchorage Digital, Fireblocks and Amazon. Monad launched its mainnet in November and sold tokens via Coinbase.