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US Set to Release $6 Billion to Iran

The US under Trump administration has agreed to release $6 billion of Iranian oil revenues held in Qatar, allowing Tehran to use the funds exclusively to purchase American agricultural and medical products. In a Truth Social post on Tuesday, Trump said the money would be spent on "corn, wheat, and soybeans from our great American Farmers" as well as food and medical supplies, framing the release as a humanitarian necessity. A person briefed on the talks said the funds would be released in phases tied to progress in future negotiations, with a further $6 billion potentially available under the same framework if Iran spends the initial tranche and talks advance.

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Bitcoin Breaks Below $60,000

Bitcoin fell as low as $59,023 on Wednesday, dropping 5.4% and breaking below $60,000 for the first time since October 2024 — a level traders have treated as significant support for much of the past two years. The move came as US equity markets extended a three-day losing streak, with the S&P 500 down 0.3% and the Nasdaq falling 0.8% in Wednesday afternoon trading. Asian markets also sold off earlier in the session, with chipmakers Samsung Electronics and SK Hynix among the hardest hit as investor appetite for stretched valuations continued to deteriorate.

US Set to Release $6 Billion to Iran

The US under Trump administration has agreed to release $6 billion of Iranian oil revenues held in Qatar, allowing Tehran to use the funds exclusively to purchase American agricultural and medical products. In a Truth Social post on Tuesday, Trump said the money would be spent on "corn, wheat, and soybeans from our great American Farmers" as well as food and medical supplies, framing the release as a humanitarian necessity. A person briefed on the talks said the funds would be released in phases tied to progress in future negotiations, with a further $6 billion potentially available under the same framework if Iran spends the initial tranche and talks advance.

Bank of Japan Just Hit Its Highest Interest Rate in 31 Years

The Bank of Japan raised its short-term policy rate by 0.25 percentage points to approximately 1% on Tuesday, bringing borrowing costs to their highest level since 1995. The move was widely expected and marks what analysts describe as a critical milestone in Japan's effort to normalise monetary policy after decades of ultra-low interest rates and persistent deflation.

JPMorgan Is Coming for Europe’s Retail Banking Market

JPMorgan Chase is targeting retail banking operations in at least five European countries by 2030, according to people familiar with the matter. The US bank currently operates its digital retail brand, Chase, in the UK and Germany; the latter launched just last month and is now eyeing France, Spain and Italy as its next markets, though no final decisions have been made on sequencing. The expansion is led by Mark O'Donovan, head of JPMorgan's international consumer bank, who also oversees the bank's 46% stake in Brazilian digital lender C6.

SpaceX’s Historic IPO Just Made Elon Musk the World’s First Trillionaire

SpaceX shares were up another 10% in pre-market trading on Tuesday, extending a rally that has now seen the stock surge approximately 50% since the company listed on the Nasdaq last Friday. The IPO was already the largest in stock market history, raising $75 billion at launch. On Monday, SpaceX exercised an option to sell additional shares, taking total proceeds to $85.7 billion.

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