According to Bloomberg, the Iranian Revolutionary Guard Corps (IRGC) has introduced a new maritime toll system for ships passing through the Strait of Hormuz. Under this system, ships are charged approximately $1 per barrel, and payments can only be made in Chinese Yuan or $crypto currency. For ships to pass through, they must previously submit documents containing ship and cargo information to IRGC-affiliated intermediaries. After payment and approval, ships are issued a passage permit code and navigation instructions; thus, safe passage through the strait is ensured. According to Bloomberg, this system offers Iran a strategic advantage both in energy trade and geopolitical balances.
According to Bloomberg, the Iranian Revolutionary Guard Corps (IRGC) has introduced a new maritime toll system for ships passing through the Strait of Hormuz. Under this system, ships are charged approximately $1 per barrel, and payments can only be made in Chinese Yuan or $crypto currency. For ships to pass through, they must previously submit documents containing ship and cargo information to IRGC-affiliated intermediaries. After payment and approval, ships are issued a passage permit code and navigation instructions; thus, safe passage through the strait is ensured. According to Bloomberg, this system offers Iran a strategic advantage both in energy trade and geopolitical balances.
BIG: Australia passes the Digital Asset Framework Act, defining digital tokens and platforms, applying tailored financial rules, and granting regulators new oversight powers.
Ten foreign nationals have been charged by the US Justice Department for manipulating the crypto market.
These ten executives and employees are from four different crypto “market makers”: Gotbit, Vortex, Antier, and Contrarian.
The indictments allege these people conspired to inflate the trading volume and price of tokens and profited through the sale of the cryptocurrencies at inflated prices to unwitting investors. These so-called pump-and-dump schemes caused losses to investors in the United States and elsewhere.
Three of the accused, including two CEOs, were recently arrested and extradited from Singapore to the United States.
To make it simple: - These guys pump the price with fake volume - Then trap retail investors at higher prices - Then dump on them - Rinse and repeat
These market makers are the reason why crypto has been dumping nonstop for months. They do a crazy amount of paper trading to suppress the price and profit from it.