Good morning.

BTC grinds a new high while the money behind it gets scrutinized.

A Senate report says Iran leaned on Tether's USDT for 84% of its sanctioned transactions, funding proxies like Hezbollah.

Yet stablecoin flow keeps humming in the background regardless.

Regime check:
• Above EMA
• Greed at 73
• Trend still grinding higher, not extended

Meanwhile institutional plumbing keeps expanding, from Coinbase's new derivatives clearinghouse approval to Bybit accepting tokenized Treasury funds as collateral.

Question now:
Does deeper institutional rails keep absorbing scrutiny like this...
or does regulatory pressure start denting flow?

XRP Coffee Break later ☕

$BTC