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BREAKING: Iran Wants Bitcoin Payments From Oil Ships Seeking Hormuz Passage

Here’s some pretty wild news to start your day…

Iran just announced it will charge Bitcoin for every barrel of oil passing through the Strait of Hormuz.

Hours after agreeing to a two-week ceasefire with the United States, Iran revealed a toll system for oil tankers transiting the strait.

The fee is $1 per barrel. And it has to be paid in Bitcoin. 🤯

Every ship must email Iranian authorities with its cargo details, wait for approval, then send a Bitcoin payment to an Iran-controlled wallet within seconds.

Why Bitcoin?

Well as you know, it can't be frozen or seized under sanctions.

As one Iranian official put it, using Bitcoin ensures the payments "can't be traced or confiscated."

The Strait of Hormuz carries roughly a third of the world's crude oil supply.

Iran seized control of it shortly after the U.S. and Israel launched strikes in late February.

A fully loaded supertanker could face charges approaching $2 million per transit.

This is unprecedented.

This is a sovereign nation using Bitcoin to bypass the global financial system in real time, during a war, on the most important oil route on Earth.

Other Gulf exporters including Saudi Arabia, the UAE, and Qatar are unlikely to accept Iran controlling a shared waterway.

Trump floated the idea of a "joint venture" toll system with Iran on Wednesday, though Iranian officials made no mention of it.

Whether the toll survives beyond the two-week ceasefire is unclear. But the precedent is set.

Bitcoin just became a tool of wartime commerce at nation-state scale.

Meanwhile, Morgan Stanley's spot Bitcoin ETF launched on Wednesday to solid demand.

MSBT pulled in $34 million on day one with over 1.6 million shares traded.

At a 0.14% fee, it's now the cheapest Bitcoin ETF on the market.

As Bloomberg's Balchunas called it: "Arguably the biggest BTC ETF launch since they began." 🚀

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Kevin O'Leary just gave the most brutally honest portfolio advice in crypto right now.

And it involves a word you don't usually hear from a billionaire. 🤨

O'Leary is "Mr. Wonderful" from Shark Tank, chairman of O'Leary Ventures, and one of the most recognizable investors on the planet.

He's also been one of the most vocal institutional voices in crypto over the past few years.

And on his latest appearance on the Iced Coffee Hour podcast, he didn't sugarcoat what has happened to most people's portfolios over the last year:

The ‘poopoo coins’, as he calls them, got destroyed. Down 80-90%.

And O'Leary says they're never coming back. No reason to exist. No marketing budget.

No ticker running across every cable business network in the world. No one is coming to save them.

And then he revealed what he actually did with his own money.

He sold 27 positions. Gone.

Moved everything into USDC earning 3.9% yield.

Then deployed that capital into more Bitcoin and Ethereum.

27 positions down to 2. That's not trimming. That's a complete reset.

His logic is simple. Bitcoin is Bitcoin. It doesn't need an explanation.

And Ethereum gets a ticker on every business network on earth, right next to the S&P and gold.

Those 2 assets have the liquidity, the institutional backing, the regulatory clarity, and the brand recognition that nothing else in crypto comes close to.

And right now? Both have been crushed. Which to O'Leary makes this "a very interesting time."

The man who tells entrepreneurs their businesses are worthless on national television just called 27 of his own crypto positions exactly that.

And concentrated everything into the only 2 that matter.

Sometimes the best portfolio move is the simplest one. 🎯

Today we’ll be checking in on the amount of Ethereum available for sale on exchanges.

Here’s how to interpret this metric:

The ETH exchange drain just hit a new milestone.

Only 14.89 million ETH remain on exchanges - 12.34% of total supply.

Since January, 1,895,686 ETH has been withdrawn. Nearly 1.9 million ETH pulled off the market in 2026 alone, and the pace shows no sign of slowing.

What's remarkable isn't the number itself. It's the consistency.

Bull market, bear market, sideways chop - it doesn't matter. Exchange balances just keep falling. Every two weeks we report this metric, and every two weeks it's lower than before.

At 12.34%, the exchange float has never been this thin. That's less available supply than at any point in the last cycle, the cycle before that, or any period in ETH's history.

The holders driving this trend aren't reacting to price. They're ignoring it entirely - stacking, staking, and moving coins into cold storage while the market debates whether ETH is even worth holding.

A shrinking pool of sellable supply eventually meets returning demand. And when it does, the thinner the pool, the sharper the move. 🐳

Treasury Outlines How Stablecoin Rules Will Fight Illicit Finance Under GENIUS Act. The Treasury Department proposed a rule on how stablecoin issuers must build anti-money laundering and sanctions programs under the GENIUS Act.

NYT revives Adam Back theory in latest bid to identify Bitcoin creator. A New York Times investigation points to Adam Back as Satoshi Nakamoto, but the Blockstream CEO denies it, and critics say proof is still missing.

BTC's next bull run to be driven by banking and digital credit, says Strategy's Michael Saylor. Speaking at a Mizuho event, the Strategy executive chairman said the formation of banking credit pairing with digital credit will be the catalyst for the next bull market.

Canary Capital files spot PEPE ETF application with SEC. Last year, Canary also filed an application to list a fund tracking the price of MOG, a then lesser-known memecoin.

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Trivia Answer: A series of 12 or 24 words that can restore access to a crypto wallet if the device is lost. 🥳

The seed phrase is the master backup for a non-custodial wallet. Anyone with access to it has full control of the funds, which is why it should never be stored digitally or shared with anyone.

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DISCLAIMER: The content of this newsletter is not financial advice. This newsletter is strictly educational and is not investment advice. Please be careful and do your own research.