JH Kim

The Israeli military said it has launched a large-scale offensive operation targeting Tehran, the capital of Iran. According to Walter Bloomberg on the 12th (local time), the Israel Defense Forces (IDF) said in a statement that it had begun an "extensive offensive operation" against Tehran. The Israeli military explained that the attack is an operation aimed at military-related targets inside Iran. The airstrikes are reported to have been carried out as the military confrontation between Israel and Iran has recently escalated.

U.S. President Donald Trump urged the Federal Reserve (Fed) to cut interest rates immediately. According to Walter Bloomberg on the 12th (local time), President Trump criticized Fed Chair Jerome Powell, arguing that the Fed should cut rates right away rather than wait until the next monetary policy meeting. He pointed to Powell, saying the decision to cut rates is being delayed. The remarks are interpreted as coming amid continuing tensions between politicians and the central bank over the direction of U.S. monetary policy.

All three major U.S. stock indexes are trading lower. As of 04:01 on the 13th, the Nasdaq Composite is down 1.57% from the previous session at 22,360.52 points. The Dow Jones index is down 1.41% at 46,747.88 points, while the S&P 500 index is down 1.35% at 6,684.05.

An Iranian security official said the ongoing military conflict is unlikely to end in the short term. On the 12th (local time), according to Walter Bloomberg, the official said, "The war will not end anytime soon." The remarks run counter to comments by U.S. President Donald Trump. Trump had previously said, "The war with Iran will end soon," adding, "If I wanted to end it, I could end it at any time." The comments are interpreted as signaling the possibility of a prolonged conflict, as military tensions between the United States and Iran persist.

An analysis says that as geopolitical tensions in the Middle East escalate, the key factors determining Bitcoin (BTC) price volatility are shifting from macroeconomic indicators to geopolitical variables. According to DL News, a media outlet specializing in virtual assets (cryptocurrencies), on the 12th (local time), James Butterfill, head of research at CoinShares, said the influence of traditional macro data such as interest-rate expectations and employment indicators has recently weakened. He said, "Instead, geopolitical risk is emerging as a new key variable," adding that "the deepening conflict among the United States, Israel and Iran is acting as a tailwind for Bitcoin, and some investors are choosing Bitcoin as a hedge against geopolitical uncertainty." In fact, since the dispute between the United States and Iran began, Bitcoin has risen about 6%, while gold prices have gained only about 1%. Over the same period, global stock markets were on a downtrend, showing moves that differed from traditional risk-asset patterns, the analysis said.

The US Senate passed housing-related legislation that includes a provision prohibiting the issuance of a central bank digital currency (CBDC). According to cryptocurrency-focused media outlet CoinDesk on the 12th (local time), the bill cleared the Senate with an overwhelming vote. However, its prospects in the House remain uncertain. The legislation includes a clause preventing the Federal Reserve (Fed) from issuing a CBDC or an equivalent digital asset until at least the end of 2030. It also stipulates restrictions on issuing a CBDC indirectly through financial institutions or intermediaries. Republican lawmakers have opposed the introduction of a government-led digital dollar. The US is currently still in the research phase regarding a CBDC.

The U.S. Commodity Futures Trading Commission (CFTC) has released guidance on prediction markets and launched the process to establish formal rules. According to CoinDesk, a digital-asset (cryptocurrency) trade publication, on the 12th (local time) the CFTC described prediction-market platforms as “verified sources that provide reliable information to news outlets, sports leagues, financial institutions, and ordinary Americans.” The recommendations include how digital commodity merchants (DCMs) such as Kalshi, Coinbase, and Polymarket obtained regulatory approval for listed products. The document also stipulates that these platforms should handle only trading contracts with low susceptibility to manipulation. CFTC Chair Michael Selig said, “This action marks the start of a new rulemaking process based on a reasonable and consistent interpretation of the Commodity Exchange Act,” adding that it “also makes clear to Americans that the CFTC will exercise exclusive jurisdiction over prediction markets.” However, the rules are expected to take several months before they are implemented, and the CFTC is currently soliciting public feedback on the direction of the regulation.

A warning has been issued that Iran may be installing naval mines in the Strait of Hormuz. According to Walter Bloomberg on the 12th (local time), UK Defence Secretary John Healey said Iran may be deploying mines in the Strait of Hormuz despite US warnings. He noted that such moves could pose major risks to both commercial vessels and warships. He explained that in a combat situation, mine-clearing operations are extremely difficult, which could significantly undermine maritime navigational safety. Healey stressed that the most realistic way to restore normal shipping routes through the Strait of Hormuz is de-escalation of military tensions.

The administration of U.S. President Donald Trump is reportedly planning to temporarily suspend the application of the Jones Act to stabilize oil prices. According to Walter Bloomberg on the 12th (local time), the Trump administration is considering measures to ease maritime shipping regulations as upward pressure on oil prices has recently intensified. The Jones Act is a law that stipulates that cargo transport between U.S. ports may be carried out only by ships built in the United States and flying the U.S. flag. The law has been cited as a factor that raises maritime shipping costs. The administration believes that if the regulation is temporarily suspended, crude oil and energy transportation costs could fall, producing a short-term stabilizing effect on oil prices.

The three major U.S. stock indexes ended the session mixed. The Nasdaq Composite rose 0.08% from the previous day on the 12th to 22,716.14. The Dow Jones Industrial Average fell 0.61% to 47,417.27, while the S&P 500 slipped 0.09% to 6,775.17 at the close.

Iran said whether a ceasefire is possible depends on whether the United States and Israel commit to refraining from any additional attacks going forward. According to Walter Bloomberg on the 11th (local time), Iranian authorities argued that a ceasefire would require assurances that the U.S. and Israel will not resume military strikes in the future. Tehran’s position is that a mere declaration of a ceasefire is insufficient and must be preceded by a pledge that no further attacks will occur. The remarks are seen as laying out negotiating conditions as U.S. and Israeli military operations continue.

The U.S. Federal Bureau of Investigation (FBI) has reportedly issued a warning to California law enforcement that Iran could be capable of carrying out drone attacks along the U.S. West Coast. According to Walter Bloomberg on the 11th (local time), the FBI cautioned that Iran may be preparing drone attacks targeting California in retaliation for U.S. military strikes. Authorities said Iran may have considered launching unmanned aerial vehicles (UAVs) from vessels offshore near the U.S. West Coast to conduct surprise attacks on specific targets in California. However, the timing of any attack and the intended targets have not yet been confirmed. The FBI also said the drone threat from Mexican drug cartels is increasing, and expressed concern about the possibility of attacks targeting U.S. troops and law enforcement agencies near the southern U.S. border.

The three major U.S. stock indexes are trading lower. The Nasdaq Composite was down 0.10% from the previous session at 22,674.46 points as of 03:46 on the 12th. The Dow Jones Industrial Average was down 0.74% at 47,354.93, while the S&P 500 was off 0.25% at 6,764.57.

The U.S. Federal Deposit Insurance Corp. (FDIC) is moving to clarify rules that exclude stablecoins from coverage under deposit insurance. According to crypto-focused media outlet CoinDesk on the 11th (local time), FDIC Chair Travis Hill said that under the GENIUS Act, holders of payment stablecoins are not eligible for deposit insurance protection. He said, "I plan to propose a new rulemaking to clarify that payment stablecoins subject to the GENIUS Act are excluded from insurance coverage." He added, "While the GENIUS Act does not explicitly prohibit this, I believe this interpretation aligns with the intent of the law," and said, "Deposit insurance provided via third-party institutions would also not be permitted."

Binance.US, the U.S. unit of global crypto exchange Binance, has appointed a compliance specialist as its new chief executive officer (CEO). According to crypto-focused media outlet CoinDesk on the 11th (local time), Binance.US named Stephen Gregory as its new CEO. Gregory previously served as U.S. CEO of crypto trading platform Currency.com. He also held senior compliance roles at several platforms, including Gemini and CEX.io, overseeing regulatory compliance work. The appointment is seen as a move to respond to the U.S. regulatory environment.

The U.S. military has reportedly acknowledged preliminary findings that a missile strike on an Iranian elementary school was a misfire. According to Walter Bloomberg on the 11th (local time), the U.S. military confirmed in its preliminary review that it launched a Tomahawk missile strike on an elementary school in Iran on Feb. 28, and determined it stemmed from a “targeting error.” The review found that U.S. Central Command (CENTCOM) carried out the strike based on outdated information from the Defense Intelligence Agency (DIA). The building had previously been part of a naval base facility, but was reportedly being used as an elementary school at the time. At least 175 people were killed in the attack, most of them children, according to reports. Meanwhile, U.S. President Donald Trump had suggested the incident could have been staged by Iran, but later said he would accept the findings of the investigation.

U.S. Central Command (USCENTCOM) issued a warning to civilians to refrain from approaching areas near port facilities in Iran. According to Walter Bloomberg on the 11th (local time), USCENTCOM advised civilians to avoid areas around ports and navy-related facilities where the Iranian navy is active. The command said it cannot guarantee civilian safety because areas near facilities where military operations are under way could become military targets. Previously, the U.S. had warned of the potential for civilian casualties, noting that Iran is conducting some military activities near civilian areas.

The three major U.S. stock indexes closed mixed. The Nasdaq Composite rose 0.01% from the previous session on the 11th to 22,697.10. The Dow Jones Industrial Average fell 0.07% to 47,706.51, while the S&P 500 declined 0.21% to 6,781.52.

US President Donald Trump said the United States struck and completely destroyed 10 vessels that could be used to lay mines. According to Walter Bloomberg on the 10th (local time), President Trump said, "We struck 10 inactive vessels or boats that could be used to deploy mines, and completely destroyed them." He added that the vessels could have been used to lay naval mines. With military tensions between the United States and Iran rising in recent days, concerns over maritime security are growing as the possibility of mine deployment in the Strait of Hormuz is being raised.