Houthi Attacks Spark Oil Price Surge, Bitcoin Holds Steady

Houthi rebels launched attacks on two Saudi oil tankers in the Red Sea, causing Brent crude oil prices to surge over 7% and surpass $100 per barrel. This escalation follows the collapse of a truce between the Houthis and Saudi Arabia, raising concerns about further supply disruptions in a critical shipping route.

The attacks mark the first such strikes since 2019, and come as investors watch for potential regulatory responses targeting stablecoins like USDT amid ongoing conflict and sanctions risks. Meanwhile, Bitcoin remained stable despite the geopolitical tension.

Tether, the largest stablecoin issuer, faces a $2.9 billion annual fee drain to blockchains it doesn't control, mainly Ethereum and Tron. To reclaim these fees, Tether supports two competing USDT blockchains: Plasma, a DeFi-focused chain with native assets, and another unnamed chain.