Over 800 Iranian missile and drone strikes since late February are reshaping the geopolitical risk calculus for crypto markets and energy-sensitive assets
Bahrain’s Defense Ministry confirmed it has intercepted and destroyed Iranian missiles and drones targeting civilian areas. Since February 28, Bahrain has documented 808 attacks from Iran, comprising 203 ballistic missiles and 605 armed drones. Those strikes have killed 3 civilians and injured 465 others, with Bahraini officials saying the attacks targeted civilian facilities and residential neighborhoods.
By March 9, Bahrain’s air defenses, which include US-supplied Patriot missile batteries, had intercepted at least 102 missiles and 171 drones.
One incident on March 9 underscored the human cost. An Iranian drone struck a residential building in Manama, Bahrain’s capital, killing a 29-year-old woman and injuring 8 others. The strike also created an unusual public disagreement between Bahrain and US Central Command over the nature of the attack.
Bahraini officials have called for an immediate halt to Iran’s strikes and pushed for a UN Security Council monitoring mechanism.
There’s also the stablecoin angle. Tether and other major stablecoins have faced ongoing scrutiny about whether they facilitate sanctions evasion, particularly involving Iranian entities. Heightened US-Iran tensions historically lead to intensified enforcement activity around sanctions compliance, which could create headwinds for stablecoin issuers and exchanges operating in gray areas.
