Crypto
US Airstrikes Hit Crypto Markets as Iran Conflict Escalates
The US military launched new airstrikes against Iranian targets on July 29, targeting sites associated with the Islamic Revolutionary Guard Corps in southern Iran. The strikes hit locations around Bandar Abbas, Kish Island, and Qeshm Island, following President Donald Trump's promise to hit Iran 'very hard.'
The timing of the strikes couldn't have been worse for crypto markets, which dropped 1-3% as traders shifted into risk-off mode.
The conflict between the US and Iran has been ongoing since joint US-Israel operations launched on February 28, 2026. The US had previously frozen $344 million in Iranian-linked digital assets in April 2026, a move that critics warned could be used to circumvent sanctions.