[News Brief] Apr 22, morning | Oil surges as U.S.-Iran clash escalates tensions in the Middle East

Tensions in the Middle East escalated again after the United States and Iran clashed near the Strait of Hormuz. According to the Financial Times and Reuters, oil prices rose to as high as $115 per barrel, while U.S. Treasuries saw selling pressure.

According to panewslab.com, the United States announced the launch of “Project Freedom” to reopen the strait. The U.S. claimed it sank six Iranian small vessels, intercepted cruise missiles and drones launched by the Islamic Revolutionary Guard Corps, and escorted two American commercial ships through the waterway.

However, Reuters reported that the claims made by the United States and Iran conflict, making it difficult to independently verify the situation on the ground. The Associated Press, citing UAE sources, said the UAE intercepted 15 missiles and four drones, and that damage and casualties occurred in the Fujairah area.

Iran neither clearly admitted nor denied responsibility for the attacks, but criticized the U.S. actions as “military adventurism.” The clash has heightened tensions around the Strait of Hormuz, a critical artery for global oil supply, and could weigh on risk assets broadly, analysts said.

Brent crude jumped 7% to $120 a barrel following Iran’s attack on the United Arab Emirates.

Watcher.Guru reported the sharp rise in oil prices on X. The move appears to reflect growing concern over supply disruptions as military tensions in the Middle East intensify.

A spike in international oil prices could heighten inflation concerns and reinforce risk-off sentiment across global financial markets. If energy price volatility continues to expand, it may also pressure risk assets including cryptocurrencies.

U.S. spot Bitcoin ETFs recorded total net inflows of $532 million on May 4 (U.S. Eastern Time), extending their streak of net inflows to three consecutive trading days.

According to Odaily, citing SoSoValue data, BlackRock’s IBIT saw the largest daily net inflow at $335 million, while Fidelity’s FBTC posted net inflows of $185 million.

IBIT’s cumulative net inflows now stand at $662 million, while FBTC’s cumulative net inflows total $11.267 billion.

The total net asset value of U.S. spot Bitcoin ETFs is $106.436 billion, representing 6.65% of Bitcoin’s total market capitalization. Historical cumulative net inflows have reached $59.25 billion.

Two U.S. senators issued a joint statement outlining a compromise on stablecoin yield mechanisms and said they would push for the passage of the CLARITY Act.

According to PANews on May 5, Fox Business reporter Eleanor Terrett said on X that Senators Thom Tillis and Angela Alsobrooks released a joint statement on an agreement related to stablecoin yield under Section 404 of the CLARITY Act.

The statement said both sides discussed concerns over deposit outflows from the banking sector with various stakeholders. The compromise would prohibit stablecoin rewards that resemble bank deposit interest, while allowing crypto companies to offer other forms of customer rewards.

The statement is being interpreted as a sign that the agreement is nearing completion. U.S. lawmakers and regulators have previously continued discussions over how stablecoin yield offerings should work and what impact they might have on the banking system.

New York Fed President John Williams said there is currently no need to consider raising interest rates, according to a PANews report citing Kalshi Press.

According to the report, Williams said the Fed’s dovish tilt mainly reflects its longer-term policy trajectory and that rates would ultimately move lower over time. He also said he was “very satisfied” with the current wording of the Federal Open Market Committee’s policy statement.

The remarks came as markets continue to monitor the future path of Fed policy. They were interpreted as lowering the perceived likelihood of additional rate hikes and may support sentiment toward risk assets.

Spot Ethereum ETFs recorded total net inflows of $61.2881 million during the U.S. trading day on May 4.

According to Odaily, citing SoSoValue data, BlackRock’s ETHA accounted for the largest share with net inflows of $54.828 million, while Fidelity’s FETH recorded net inflows of $6.4601 million.

ETHA’s cumulative net outflows currently stand at $45.2852 million, while FETH’s cumulative net inflows total $2.296 billion.

Total net assets of spot Ethereum ETFs stand at $13.972 billion, equal to 4.93% of Ethereum’s total market capitalization. Historical cumulative net inflows are $12.077 billion.

Source: @whale_alert

An unknown wallet transferred 200 million USDT, worth about $199.9372 million, to Binance.

The transaction was detected on the Ethereum network. Large stablecoin deposits to exchanges are often interpreted as a sign of buying intent or capital reallocation, but whale transfers alone are not enough to determine market direction.

Claims have emerged that Russia’s central bank is moving to ban self-custody of Bitcoin. If confirmed, the move could significantly affect how individuals in Russia store Bitcoin and reshape the country’s crypto regulatory landscape.

@pete_rizzo_ said on X that the Bank of Russia is moving to ban Bitcoin self-custody. He described it as a direct attack on cryptocurrency.

However, the claim is currently based on an X post, and further confirmation is needed through official documents regarding the specific proposal, implementation status, and scope. Russia has previously continued to debate and adjust rules surrounding crypto use, mining, and custody.

Polish crypto exchange zondacrypto is reportedly unable to access a wallet containing about 4,500 BTC because of its missing former CEO, according to PANewsLab.

According to the report, zondacrypto CEO Przemysław Kral said former chief executive Sylwester Suszek did not hand over the private keys during the 2021 management transition and has remained missing for years. As a result, the company cannot access Bitcoin assets worth roughly $330 million.

POLITICO and AP reported that zondacrypto has also been entangled in regulatory uncertainty, political donation controversies, and allegations involving Russian funding. Polish Prime Minister Donald Tusk criticized the exchange, claiming it was backed by Russian money and had been involved in sponsoring political events. zondacrypto denied allegations of misappropriating customer funds and said it is cooperating with authorities.

The case is also linked to controversy surrounding Poland’s crypto regulatory bill. The Polish government said the bill is intended to implement the EU’s MiCA rules and strengthen market oversight, but President Karol Nawrocki has vetoed it twice.

Coinbase is partnering with institutional trading systems provider Kemet and making a strategic investment in the firm. Through Kemet’s multi-market trading system, institutional clients will be able to access Coinbase spot, futures, and options trading from a single platform.

According to PANews, Coinbase plans to expand institutional clients’ access to its trading infrastructure through the partnership. Under the agreement, Kemet will connect Coinbase Exchange, Coinbase Derivatives Exchange, Coinbase International Exchange, Deribit, and other platforms under the Coinbase umbrella.

This will allow institutional investors to execute trades and manage strategies across spot, futures, and options markets on a unified platform. Coinbase Ventures will also make a strategic investment in Kemet to support the long-term partnership.

Coinbase said the collaboration is intended to strengthen liquidity integration and execution across spot, futures, and options markets and reinforce its position as a core institutional-grade trading platform. Coinbase has previously focused on expanding its institutional business and derivatives capabilities.