Escalating US-Iran tensions are boosting safe-haven demand, with gold attracting investors while equities and Bitcoin face pressure. Rising tensions in the Middle East are pushing investors toward safe-haven assets, with gold demand climbing as investors flee equities and crypto markets. On Wednesday, reports revealed that Iran has sharply increased crude oil exports, with shipments from Kharg Island reaching 20.1 million barrels between Feb. 15 and Friday, about three times January’s level, as a preemptive supply release and a hedge against possible disruption if tensions with the United States escalate. At the same time, increasingly hawkish US rhetoric regarding Iran’s nuclear program has raised expectations of confrontation, according to Bitunix analysts. “In the event of a direct US–Iran military conflict, gold could rise by roughly 15% within two weeks on safe-haven demand, targeting a range of $5,500-$5,800 per ounce,” the analysts wrote in a note shared with Cointelegraph. Read more
(LEFT) Iran and Russia carry out a joint military exercise; while (right) US Air Force planes are seen on the tarmac at the Sofia airport in Bulgaria.—Reuters • Trump says Tehran has ‘10 days’ to make a deal with Washington, or ‘bad things will happen’ • Kremlin urges restraint; Germany pulls troops out of Iraq; Poland tells citizens to leave Iran WASHINGTON: War clouds are looming over the Middle East, as US warplanes and aircraft carriers head toward Iran in preparation for possible military action. Renewing his threats towards Tehran, President Donald Trump indicated on Thursday that the country has around 10 days to reach a deal with Washington, or “bad things will happen”. CNN and CBS reported on Wednesday that the US military would be ready to launch strikes against Iran as early as this weekend, though Trump has reportedly not made a final decision yet. White House Press Secretary Karoline Leavitt warned on Wednesday there were “many reasons and arguments that one could make for a strike against Iran”...
Dubai’s regulator approved the license on Feb. 5, allowing Animoca Brands to target institutional and qualified investors under the oversight of Dubai’s VARA. Animoca Brands has secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), clearing the way for the company to broaden its crypto operations across the Middle East. The license allows the Hong Kong-founded Web3 investor and platform developer to offer broker-dealer services and investment management related to virtual assets in and from Dubai, excluding the Dubai International Financial Centre, according to a Monday announcement. The services are aimed primarily at institutional and qualified investors. “This licence enhances our ability to engage with Web3 foundations as well as global institutional and qualified investors within a well-regulated framework,” said Omar Elassar, managing director for the Middle East and head of global strategic partnerships at Animoca Brands. Read more
The digital assets company is one of many to seek regulatory approval from UAE authorities or attempt to expand their services into a region drawing them in. Galaxy, the digital asset management and infrastructure company, announced an upcoming office and a new arm in Abu Dhabi as part of its push into the Middle East. In a Wednesday notice, Galaxy said it would establish an entity under the registration authority of the Abu Dhabi Global Market (ADGM), the area’s international financial center. According to Galaxy founder and CEO Mike Novogratz, the move was part of a strategy to expand the company’s existing partnerships and operations. “The Middle East is a rapidly growing financial hub that is home to some of the world’s most sophisticated investors and innovators,” said Galaxy managing director Bouchra Darwazah. “It has become a particularly influential region for our investors, clients, and portfolio companies, and we believe this office will help establish new opportunities as a leading global digital a...