Chainlink, JPMorgan’s Kinexys, and Ondo Finance completed a crosschain DvP settlement between a permissioned payment network and a public RWA blockchain.

Chainlink, JPMorgan, Ondo Finance complete crosschain treasury settlement

TRON has kicked off the minting of World Liberty Financial’s USD1 stablecoin 
on its blockchain, coinciding with a major governance update. TRON (TRX) DAO 
has just announced the first minting of World Liberty Financial&#8217;s USD1 
stablecoin on its blockchain. The…

USD1 stablecoin launches on TRON amid major governance update

The years-long legal drama involving basketball star Shaquille O’Neal and his 
ties to the now-bankrupt crypto exchange FTX is finally coming to an end. 
According to a recent CNBC report, Shaquille O’Neal has agreed to pay $1.8 
million to settle…

Shaquille O’Neal Cuts $1.8M Check to Close FTX Lawsuit

After hitting $110,450 on Monday, the Bitcoin price is writing its third 
consecutive red day as the benchmark cryptocurrency fell 5.3% from an intra- 
day top of $108,450 to a trough of $102,664 before clawing back to about 
$104,456 by press time. The sell-off coincided, almost minute-for-minute, with 
confirmation that Israel had conducted large-scale air-strikes on Iranian 
nuclear installations, sending ripples through every major asset class. Why Is 
Bitcoin Going Down Today? Israel’s pre-dawn operation — its first overt attack 
on Iranian territory since the October-2024 raids — instantly repriced global 
risk. Oil futures jumped more than 10%, spot gold printed a fresh record high 
above $3,400 an ounce, and US equity futures slid roughly 1.5%. Bitcoin’s 
draw-down resembled its initial reaction to Iran’s failed missile barrage on 
Israel in April. Related Reading: Bitcoin Nears All-Time High as Whale 
Behavior Suggests Further Upside “Oil up. Gold up. Bitcoin down,” Anthony 
Pompliano wrote on X, noting that the pattern echoes April’s missile incident, 
after which “Bitcoin ended up outperforming the other two over the first 48 
hours.” Bitcoin educator Peter Duan argued in a separate post that “a dip in 
Bitcoin happens every time there is serious geopolitical [turmoil] … In the 
long run, this will only push more people to Bitcoin,” pointing to the 24/7 
nature of crypto trading versus the still-closed equity cash markets. Macro 
strategist Joe Consorti drilled down on the mechanics: “Bitcoin, S&amp;P and NDX 
are all being panic-sold. Crude oil, natural gas, gold and US Treasuries are 
all spiking higher. The flight to safety trade is here.” A fresh surge in 
crude is precisely what US policymakers did not need. West Texas Intermediate 
vaulted past $77 a barrel—its first visit to that level in four months—after 
Israel struck Iranian nuclear facilities, erasing much of the hard-won 
disinflation dividend and dragging energy back to centre stage. The contract 
is now more than $21 above its April trough, threatening to unwind the benign 
price trends that had been taking hold. This comes after US inflation data 
once again surprised to the upside this week. May’s Consumer Price Index rose 
just 0.1% on the month and 2.4% year-over-year, while core CPI matched that 
modest 0.1% gain and held at 2.8% on an annual basis. Producer prices told a 
similar tale on Thursday, with the headline PPI up only 0.1% month-over-month 
and 2.6% on the year, both below consensus expectations. Related Reading: 
Bitcoin Is Wildly Undervalued, Says Bitwise: ‘Fair Price’ Today Is $230,000 
Lower fuel costs had been a cornerstone of President Trump’s strategy for 
reining in inflation; the renewed march higher in oil now threatens that 
narrative. If energy continues to climb, markets will anticipate a rebound in 
headline inflation and the Federal Reserve may feel compelled to postpone the 
rate-cut cycle traders had pencilled in for September. Bitcoin, which is 
acutely sensitive to fluctuations in global liquidity, often underperforms 
when the policy outlook tilts toward tighter financial conditions—explaining 
its abrupt slide alongside the spike in crude. The newsflow triggered one of 
the heaviest forced-liquidation washes of 2025. CoinGlass data show that 
roughly $1.14 billion in crypto futures positions were wiped out over the past 
24 hours, $1.04 billion of which were longs, as 236,788 traders were forced 
out of the market. The single-largest hit was a $201 million BTC-USDT long on 
Binance, the biggest one-ticket liquidation since January. For Bitcoin alone, 
long-side liquidations totalled $443 million. For the entire crypto market, 
this is the worst wipe-out since the post-tariff rout of February 3, when 
$1.25 billion was liquidated across the complex. Featured image created with 
DALL.E, chart from TradingView.com

Bitcoin Price Crashes Below $103,000—What Triggered It?

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