JH Kim

According to CNN on the 24th (local time), Danny Danon, Israel's UN Ambassador, met with journalists at the UN headquarters in New York on this day and said, "Diplomatic negotiations with Iran are still premature, but they will be realized in the near future." Ambassador Danon stated, "It is still too early to evaluate the full results of Israel's recent airstrike targeting Iran's nuclear facilities," adding, "We have significantly rolled back Iran's nuclear program and have eliminated the urgent threat." He also mentioned, "Now is the time to build new relationships and cooperation within the Middle East region." While he did not specify particular countries, he referred to previous cases where diplomatic relations were normalized with entities such as the United Arab Emirates (UAE), Bahrain, and Morocco through the Abraham Accords.

All three major United States stock indexes closed higher. The Nasdaq Composite Index recorded 19,912.53 points on the 25th, up 1.43% from the previous day. The Dow Jones Index closed at 43,089.11 points, up 1.19%, while the S&P 500 Index finished at 6,092.79 points, up 1.12%.

According to CNN on the 24th (local time), Israeli Prime Minister Benjamin Netanyahu announced the conclusion of 12 days of military conflict with Iran, stating that "Israel has achieved a historic victory for future generations." Prime Minister Netanyahu asserted in a national address, "Through this operation, we have eliminated Iran's nuclear threat, which was an existential danger to Israel, as well as thousands of Iran's ballistic missiles." Meanwhile, Iranian President Masoud Pezeshkian also emphasized through state-run IRIB news agency that "this conflict was provoked by Israel, and Iran too has achieved a historic victory."

According to CNN on the 24th (local time), the US's recent airstrike on Iran's nuclear facilities failed to completely destroy the core infrastructure for nuclear development, and according to initial US military intelligence assessments, only managed to delay Iran's nuclear program by several months. The report states that this assessment was prepared by the Defense Intelligence Agency (DIA) under the US Department of Defense, based on damage assessments carried out by US CENTCOM. The DIA analyzed, “While this airstrike did damage some nuclear facilities, most of Iran’s uranium enrichment infrastructure remains largely undamaged,” adding that “Iran’s stockpile of enriched uranium also remains intact.” In particular, it was explained that most centrifuges are still in ‘normal condition’. A source said, “The DIA’s determination is that the attack only managed to set back Iran’s nuclear development by several months at most.” Previously, US President Donald Trump and Secretary of Defense Pete Hegseth claimed, “This airstrike has completely destroyed Iran’s nuclear capability.” However, the intelligence agency’s assessment results differ from this official White House statement. Meanwhile, the White House acknowledged the existence of the assessment, but said, “We do not agree with the assessment results.”

According to The Daily Hodl, a cryptocurrency-focused media outlet, on the 24th (local time), Visa CEO Ryan McInerney stated in a CNBC interview that "Visa has been preparing for ways to utilize stablecoins for several years" and added, "Now is the time to actively drive innovation." He continued, "Recently, the Genius Act, a stablecoin regulatory bill, was passed in the U.S. Senate and is expected to pass smoothly in the House as well," explaining, "Based on this, we plan to expand the adoption of stablecoins in our global payment network." He also emphasized, "If there is sufficient demand for stablecoins globally, it will be possible to use them as a payment method within the Visa network," and "If necessary, we will mobilize all infrastructure to support the spread of stablecoins."

According to Watcher Guru, a cryptocurrency media outlet, on the 24th (local time), Vlad Tenev, the co-founder and CEO of Robinhood, said in a CNBC interview, "Virtual assets will eventually completely replace the traditional financial system." He emphasized, "The existing financial system is inefficient and complex," and added, "Virtual assets present a more transparent and efficient alternative."

According to CNN on the 24th (local time), U.S. President Donald Trump claimed that the recent ceasefire agreement between Israel and Iran was thanks to his leadership. President Trump stated on his Truth Social account that "Both Israel and Iran wanted to stop the war" and added, "I destroyed all nuclear facilities and capabilities, and it was my great honor to then bring the war to an end." Currently, President Trump is traveling to the Netherlands to attend the North Atlantic Treaty Organization (NATO) summit.

According to the economic news account Walter Bloomberg on the 24th (local time), Jerome Powell, chair of the Fed, stated at a semiannual monetary policy hearing held by the US Senate Banking Committee that "the Fed is legally unable to purchase virtual assets (cryptocurrencies) and has no intention of seeking such authority."

Nobitex, Iran's largest virtual asset (cryptocurrency) exchange, announced on the 24th (local time) via X (formerly Twitter) that it will begin resuming services in phases starting from the 25th. According to the exchange, deposit, withdrawal, and trading functions are scheduled to operate normally starting from the 30th. Previously, some of Nobitex's services had been suspended following recent hacking damage.

On the 24th (local time), CNN reported, citing Iranian state-affiliated media Nour News, that Masoud Pezeshkian, President of Iran, stated, "Unless Israel violates the ceasefire agreement first, Iran will adhere to the agreement." President Pezeshkian stated in a statement, "Iran will not violate the ceasefire and will only respond if Israel breaks the promise first," adding, "Tehran is prepared to engage in dialogue at the negotiation table to protect the rights of the Iranian people." Earlier, former U.S. President Donald Trump announced that a ceasefire agreement had been reached between Israel and Iran. However, Israel claimed that just a few hours after the ceasefire took effect, Iran fired rockets at its territory, thus breaking the agreement first. In contrast, Iran denied this and repeatedly emphasized its willingness for a ceasefire.

On the 24th (local time), Eleanor Terrett, the host of Crypto in America, reported via X (formerly Twitter) that the draft of the ‘Crypto Market Structure Principles,’ which will serve as a standard for future cryptocurrency legislation, has been released. The draft includes: ▲Clarification of the legal status of digital assets ▲Specification of the roles and responsibilities of regulatory agencies ▲Improvement of the outdated regulatory framework ▲Strengthening of digital asset investor protection ▲Implementation of Anti-Money Laundering (AML) measures ▲Provision of clear guidance by regulatory agencies. The draft was co-signed by Tim Scott, Chairman of the United States Senate Committee on Banking, Housing, and Urban Affairs, along with U.S. Senators Cynthia Lummis, Thom Tillis, and Bill Hagerty.

The three major U.S. stock market indices are on the rise. As of 00:14 on the 25th, the NASDAQ Composite Index is trading at 19,871.12 points, up 1.22% from the previous day. The Dow Jones Industrial Average is up 0.83% at 42,935.68 points, and the S&P 500 Index is up 0.82% at 6,074.42 points.

According to cryptocurrency-focused U.S. media outlet Cointelegraph on the 23rd (local time), 10 Democratic lawmakers, including California Senator Adam Schiff, jointly proposed a bill to block President Donald Trump's conflicts of interest regarding digital assets. The newly proposed 'Combatting Official Income from Non-disclosed Digital Asset Transactions (COIN Act)' directly targets President Trump and his family's digital asset-related businesses and investments. Schiff stated, "President Trump's activities related to digital assets raise ethical, legal, and constitutional concerns that he is using public office for personal and family financial gain," emphasizing, "We must fundamentally prohibit public officials, especially the president and their family, from using digital assets to seek private profit." The bill bans the president and other high-ranking officials, as well as their families, from directly issuing, sponsoring, or promoting digital assets, meme coins, NFTs, stablecoins, etc., from 180 days before entering office, throughout the term of office, and for two years after leaving office. In particular, payment stablecoins are a major focus of regulation. This is closely related to the activities of the DeFi platform World Liberty Financial (WLFI), led by the Trump family. WLFI launched its own stablecoin, 'USD1,' in March, and in May, a company based in Abu Dhabi that invested $2 billion in Binance announced plans to use this stablecoin for payments. Furthermore, the Trump family’s stake in WLFI was reduced from 75% as of December last year to 40% as of June this year, with several hundred million dollars reportedly cashed out as a result. According to the nonprofit State Democracy Defenders Action, President Trump’s digital asset holdings are estimated at approximately $2.9 billion, accounting for about 40% of his total assets. On the same day, Democratic Congresswoman Maxine Waters separately proposed the 'TRUMP IN CRYPTO Act' in the House. The bill aims primarily to block President Trump’s meme coin ventures and prevent the pursuit of personal gain using digital assets. However, as the Democrats are the minority in both the House and Senate, analysis suggests the prospects for the bills' passage are low. Even if enacted, President Trump is likely to exercise his veto, and overriding it would require a two-thirds majority in both chambers.

According to CNN on the 23rd (local time), U.S. President Donald Trump said that Iran had carried out a missile attack on a U.S. military base in Qatar that day, and expressed his "thanks for the advance notice," stating, "I hope we can move forward for peace and harmony in the region." President Trump stated on his social media platform Truth Social that "there were no American casualties, and there was almost no damage," emphasizing, "Above all, it seems Iran has vented all the anger in their hearts, so I hope there will be no more hatred." He went on to say, "Thanks to Iran's prior notification, there were no lives lost or injuries," adding, "I would like to thank Iran for this." In another post, President Trump said, "I want to thank the Emir of Qatar for his efforts toward peace in the region," and added, "Congratulations to the world. Now is the time for peace."

The three major U.S. stock indices closed higher. On the 24th, the Nasdaq Composite Index rose 0.94% to 19,630.97 points compared to the previous session. The Dow Jones Index rose 0.89% to 42,581.78 points, and the S&P 500 Index closed up 0.94% at 6,023.73 points.

On the 23rd (local time), Eleanor Terrett, host of Crypto in America, reported through X (formerly Twitter) that the Fed announced it will no longer consider 'reputational risk' in the bank supervision process. As a result, it is expected that the restrictions previously faced by virtual asset (cryptocurrency) companies in participating in the banking system will be resolved.

On the 23rd (local time), CNN reported, citing a senior White House official, that the Trump Administration had anticipated retaliation from Tehran following last weekend's U.S. strike on Iran's nuclear facilities, and President Donald Trump does not wish to expand military involvement in the Middle East. The senior White House official, who wished to remain anonymous, said, "We knew they would retaliate. The reaction was similar to when Soleimani was killed." This refers to the 2020 incident in which Qasem Soleimani, commander of the Quds Force of the Islamic Revolutionary Guard Corps (IRGC), was killed by a U.S. airstrike. He also stated, "Most of the missiles launched by Iran on Monday appear to have missed their targets," adding, "President Trump is willing to increase military involvement if necessary, but for now, he does not wish to do so." Meanwhile, the Ministry of Defense of Qatar announced that it intercepted Iran's missile attack on the U.S. military base within its territory with its air defense system and there were no damages. President Trump is expected to discuss countermeasures with his national security team later this afternoon, so the administration's position may change according to these discussions.

On the 23rd (local time), economic news account Walter Bloomberg cited The New York Times (NYT) to report that Iran issued advance notice before carrying out an attack on a U.S. military base in Qatar with the aim of minimizing casualties.

According to Walter Bloomberg, an account specializing in economic breaking news, on the 23rd (local time), the Qatari government announced that "all of the multiple missiles fired by Iran toward the U.S. military base were intercepted by the nation's air defense network," and stated, "No significant damages have been reported so far."

According to CNN on the 23rd (local time), Iranian state TV reported that the Iranian military has launched a military operation targeting a US base in Qatar. Earlier, US authorities had warned that following this weekend’s airstrike on Iran’s nuclear facility, Iran was highly likely to target US facilities in the Middle East in retaliation. In particular, the Al Udeid US base in Qatar was mentioned as one of the main targets. On this day, the economic news account Walter Bloomberg, quoting Axios, reported that Iran had launched six missiles at the US base located in Qatar.

On the 23rd (local time), economic news specialist account Walter Bloomberg, citing Fox News, reported that the government of the United Arab Emirates (UAE) has completely closed its airspace.

The US government has reportedly detected indications that Iran is preparing to attack US military facilities in the Middle East. On the 23rd (local time), CNN, citing two US government officials, reported, "Iran is preparing in anticipation of the possibility of attacking US military facilities, including the Al Udeid Air Base in Qatar." Previously, economic news account Walter Bloomberg, quoting Axios, reported that Iran had fired six missiles targeting the US military base located in Qatar. Meanwhile, officials stated, "We are closely monitoring Iran's military movements and are prepared to respond if necessary."