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Adam Back denies he’s Satoshi as Bitcoin surges past $70K on Iran truce
BTC jumped on ceasefire relief, then cooled by morning as Satoshi chatter and Morgan Stanley’s bargain fee ETF kept the tape busy.
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Bitcoin is threading through geopolitics, identity mysteries, and institutional finance all at once.
A proposed Iran ceasefire sent risk assets surging Tuesday night before a cautious Wednesday pullback.
Meanwhile, the New York Times thinks it finally cracked crypto's oldest cold case.
And Iran is now demanding Bitcoin tolls from ships in the Strait of Hormuz.
The line between digital assets and the real world just disappeared completely.
Adam Back denies being Satoshi after NYT's 18-month investigation names him
Journalist John Carreyrou found 67 matching hyphenation errors between Back's and Satoshi's writings.
The stylometric analysis caps an 18-month investigation into the British cryptographer's decades of work in privacy tech and electronic cash.
Back flatly denies it, but the Satoshi question now has its most forensic answer yet.
Markets
Ceasefire rally fades as traders weigh two weeks of uncertainty
Trump's offer to pause Iran strikes sparked a Tuesday night surge across risk assets.
By Wednesday morning, the rally cooled as traders questioned whether the truce would hold.
Equities still opened higher, with the S&P 500 up 2% and Nasdaq climbing 2.7%.
BTC traded near $71K, ETH around $2,200, SOL near $83, and XRP at $1.35.
Iran demands Bitcoin payments from ships passing through the Strait of Hormuz
Tehran is charging roughly $1 per barrel in crypto for tanker passage through the world's most critical oil chokepoint.
About 20% of global oil supply flows through the Strait daily, making this a leverage play with real teeth.
If this sticks, it's the first time a nation-state has weaponized Bitcoin as a shipping toll.
Morgan Stanley debuts spot Bitcoin ETF with the lowest fee on Wall Street
MSBT launched with a 0.14% annual fee, undercutting BlackRock's dominant IBIT fund at 0.25%.
It makes Morgan Stanley the first major US commercial bank to offer a spot Bitcoin exchange-traded product.
BlackRock's IBIT holds $70.6B and commands 45% of the market, so Morgan Stanley is picking a fight with the biggest kid on the block.
On Our Radar
Liquidity is getting repackaged: Pure AMMs are starting to look outdated as crypto shifts toward hybrid liquidity.*
Banking fears look overblown: White House economists say stablecoin rewards barely dent lending.
Stablecoin push gets bigger: Polygon is weighing a fresh raise to build out its payments play.
*sponsored
ICYMI
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That’s your briefing. Catch you next time.
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