David Sacks, the White House Digital Asset Policy Special Advisor, urged restraint in the Iran conflict, saying, “Now we must find an exit” and that “this is a good time to declare victory and withdraw.” He warned that targeting desalination facilities could trigger a genuine catastrophe in the Gulf region. Separately, the U.S. Internal Revenue Service has begun implementing a virtual asset reporting regime for taxation, a move that could complicate this year’s tax season. In the wake of geopolitical shocks, demand for USD Coin (USDC) rose sharply in the United Arab Emirates.
Bitcoin-related activity also remains in focus as the U.S. spot Bitcoin ETF reported five straight days of net inflows. Industry talks continue around cross-exchange cooperation, with Coinbase and Bybit reportedly in discussions over an investment partnership. Bitcoin briefly rallied but turned lower after Trump’s remarks.
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