Urea Prices Have Spiked Due to Iran Conflict—And Traders Expect More Pain

Bitwise CIO Matt Hougan notes a similar trend between the rise of NFTs and smaller coins during the pandemic crypto boom and the current surge in gold and silver prices. Investors are rotating profits between assets, creating a "classic altcoin cycle in metals."

Ryan James Wedding, a former Olympic snowboarder accused of running a drug-smuggling operation backed by crypto, was arrested by the FBI in Mexico. The DOJ and Treasury Department claimed Wedding used Tether to fuel his activities, leading to his capture as one of the FBI's top 10 most wanted fugitives.

Binance co-founder Changpeng “CZ” Zhao predicts a potential supercycle for Bitcoin in 2026, attributing it to the US government's pro-crypto stance and the trend of other nations following suit. Despite not providing a specific price target, Zhao believes in a positive trajectory for Bitcoin and the overall crypto market.

CertiK, a crypto security firm, plans an IPO after raising $296 million and facing controversies. The CEO remains confident in the decision, emphasizing trust, security, and transparency in the Web3 ecosystem.

UBS Group AG, the world's largest wealth manager, is considering offering crypto investment options to its private banking clients. The bank's assets under management surged by $1.5 trillion after a forced merger with Credit Suisse in 2023.

The Crown Prosecution Service obtained a Confiscation Order of over £5 million against Seng Hok Ling for his involvement in a money laundering scheme with convicted fraudster Zhimin Qian. Ling faces an additional eight-year prison sentence if he fails to pay within three months.

Grayscale has filed with the SEC to launch the Grayscale BNB Trust, an ETF tracking the BNB token. The proposal hinges on Nasdaq submitting a 19b-4 form and receiving SEC approval. BNB, associated with Binance, powers the BNB Chain and offers various utility functions.

French crypto accounting platform Waltio was targeted by hackers who extorted the company for sensitive data, prompting an investigation by French authorities. The cybercriminals reportedly stole customer emails and tax reports, but Waltio assured that passwords were not compromised.

Over four trading days, U.S. spot Bitcoin exchange-traded funds experienced net outflows of $1.62 billion, one of the largest since their inception in 2024. The streak of redemptions began last Friday and continued amid market withdrawals.

Delegates of Optimism DAO are currently voting on a proposal to use 50% of revenue to buy back OP tokens monthly. The proposal has sparked debate among delegates, with some questioning its impact on the token's price and overall sustainability.