{"id":3670,"date":"2025-06-22T16:02:01","date_gmt":"2025-06-22T16:02:01","guid":{"rendered":"https:\/\/bitunikey.com\/news\/crypto-markets-crash-after-us-bombs-iran-texas-to-add-bitcoin-to-official-reserves-weekly-recap\/"},"modified":"2025-06-22T16:02:07","modified_gmt":"2025-06-22T16:02:07","slug":"crypto-markets-crash-after-us-bombs-iran-texas-to-add-bitcoin-to-official-reserves-weekly-recap","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/crypto-markets-crash-after-us-bombs-iran-texas-to-add-bitcoin-to-official-reserves-weekly-recap\/","title":{"rendered":"Crypto markets crash after US bombs Iran, Texas to add Bitcoin to official reserves | Weekly Recap"},"content":{"rendered":"

<\/p>\n

\n

A turbulent week in crypto ended with a sharp market downturn, as Bitcoin, Ethereum, and major altcoins plunged following U.S. airstrikes on Iran\u2019s nuclear sites ordered by President Donald Trump. <\/p>\n

While geopolitical shockwaves rattled prices and NFTs posted a double-digit drop, crypto venture funding remained surprisingly resilient, and Reddit made headlines for exploring iris-scanning technology to tackle identity challenges in the age of AI.<\/p>\n

Bitcoin, Ethereum and other tokens plummet<\/strong><\/h2>\n
    \n
  • The crypto market slumped over the weekend as geopolitical tensions escalated following President Trump\u2019s order for U.S. forces to join Israel in bombing Iran\u2019s nuclear sites. <\/li>\n
  • Trump claimed the strikes \u201ccompletely and totally obliterated\u201d the facilities, prompting Iran to vow retaliation. <\/li>\n
  • Over the past 24 hours, Bitcoin (BTC) and Ethereum (ETH) fell by over 2.8% and 9%, respectively. Major altcoins like Virtuals Protocol, Celestia, AB, and Aptos dropped more than 9% in 24 hours.<\/li>\n<\/ul>\n

    Iran imposes curfew on domestic crypto exchanges<\/strong><\/h2>\n
      \n
    • Earlier in the week, the Central Bank of Iran restricted exchange operating hours to 10 a.m. to 8 p.m.<\/li>\n
    • The decision follows a politically motivated hack on Nobitex, the country\u2019s largest trading platform, that led to losses exceeding $90 million. <\/li>\n
    • The June 18 attack drained and burned assets, rendering them unrecoverable. <\/li>\n<\/ul>\n

      Reddit considers iris scans<\/strong><\/h2>\n
        \n
      • Reddit is in talks to integrate Sam Altman\u2019s World ID, a biometric verification system that scans irises without storing personal data, to address growing pressure from AI threats, age verification laws, and bot abuse. <\/li>\n
      • The partnership would help Reddit verify user identity and age while preserving anonymity\u2014an increasingly critical balance as regulators and researchers ramp up scrutiny of online platforms.<\/li>\n<\/ul>\n

        <\/p>\n

        Coinbase unveils end-to-end stablecoin payments infrastructure<\/strong><\/h2>\n
          \n
        • The solution, powered by Coinbase\u2019s layer-2 network, Base, allows merchants to accept Circle\u2019s stablecoin USDC without dealing with blockchain complexity. <\/li>\n
        • Shopify, the first major partner, has already integrated the system, enabling its vast merchant base to receive near-instant, low-cost USDC payments from customers worldwide.<\/li>\n<\/ul>\n

          Crypto VC funding remains resilient<\/strong><\/h2>\n
            \n
          • Last week, 18 crypto projects or startups secured a combined $159.5 million despite broader market volatility.<\/li>\n
          • The week was dominated by infrastructure and AI-focused ventures, with EigenLayer leading the pack through a $70 million round backed by a16z crypto\u2014bringing its total funding to $234.5 million. Other notable raises included PrismaX, Sparkchain AI, Gradient Network, Ubyx, and Units Network, each attracting $10 million or more from prominent investors like Pantera, Lightspeed, Galaxy Digital, and Coinbase Ventures.<\/li>\n
          • The activity signals continued confidence in foundational crypto technologies and AI convergence, even as deal sizes concentrate around fewer, well-backed projects.<\/li>\n<\/ul>\n

            NFTs experience sharp drop<\/strong><\/h2>\n
              \n
            • NFT sales fell by 18.43% to $116.9 million, according to data from CryptoSlam.<\/li>\n
            • Despite the sales decline, market participation metrics show mixed results. NFT buyers remain flat at 1,061,348 (50.56% growth maintained).<\/li>\n
            • NFT sellers rise by 8.09% to 38,494. NFT transactions have decreased slightly by 0.63% to 1,709,086.<\/li>\n<\/ul>\n

              KindlyMD, Nakamoto merger update<\/strong><\/h2>\n
                \n
              • Utah-based telehealth provider KindlyMD is now channeling millions into Bitcoin via its expected merger with Nakamoto Holdings, the Bitcoin-focused investment firm founded by David Bailey.<\/li>\n
              • They have secured an additional $51.5 million in PIPE financing, bringing their total committed capital for Bitcoin treasury accumulation to $763 million.<\/li>\n
              • The latest round, priced at $5 per share in KindlyMD stock, was fully subscribed in under 72 hours, signaling strong institutional interest despite broader market uncertainty.<\/li>\n<\/ul>\n

                Texas Governor signs Bitcoin reserve bill<\/strong><\/h2>\n
                  \n
                • Texas Governor Greg Abbott has signed Senate Bill 21, creating the Texas Strategic Bitcoin Reserve\u2014a state-managed fund that will hold Bitcoin as a long-term financial asset. <\/li>\n
                • Operated independently from the general treasury, the reserve is designed to bolster financial resilience and hedge against inflation. <\/li>\n
                • Only assets with a market cap over $500 billion\u2014currently just Bitcoin\u2014qualify. The fund will be overseen by the Texas Comptroller and advised by a three-member crypto investment committee.<\/li>\n<\/ul>\n

                  X makes good on \u2018super app\u2019 idea<\/strong><\/h2>\n
                    \n
                  • X, formerly Twitter, is expanding its push to become a \u201csuper app\u201d by developing in-app investment and trading features, according to the Financial Times<\/em>. <\/li>\n
                  • Under Elon Musk\u2019s ownership, the platform is evolving into an all-in-one financial hub, with CEO Linda Yaccarino confirming plans to integrate a wide range of financial services. <\/li>\n
                  • The move builds on Musk\u2019s crypto-friendly reputation and aims to position X as a central platform for both social and financial activity.<\/li>\n<\/ul>\n

                    <\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

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