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Goldman Sachs Upgrades Brambles on Subcontractor Exit10X Genomics SWOT: Profitability Test AheadOttobock shares drop 10% on short reportBOE considers temporary guardrails on stablecoin volumesIran to Azerbaijan: 12 kg Drug Smuggling FoiledCalifornia Water Atlas coming to AzerbaijanByron-Koks: Housing problem not simpleFinancial crisis at Kapaz FCMay 17 exam results not canceled - DIM statementKKR SWOT analysis: stock faces mixed signalsGoldman Sachs Upgrades Brambles on Subcontractor Exit10X Genomics SWOT: Profitability Test AheadOttobock shares drop 10% on short reportBOE considers temporary guardrails on stablecoin volumesIran to Azerbaijan: 12 kg Drug Smuggling FoiledCalifornia Water Atlas coming to AzerbaijanByron-Koks: Housing problem not simpleFinancial crisis at Kapaz FCMay 17 exam results not canceled - DIM statementKKR SWOT analysis: stock faces mixed signals
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Iran's Bitcoin Insurance Response to US Operation

Iran counters US Operation Economic Fury by offering Bitcoin-based insurance for ships in the Strait of Hormuz.

Benjamin Moore
ByBenjamin Moore- Senior Editor
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Iran's Bitcoin Insurance Response to US Operation
Photo: Prepared by Bond.az

Iran has launched a Bitcoin-based insurance service for ships passing through the Strait of Hormuz.

According to Bloomberg, over 1,500 commercial vessels were stranded in the Persian Gulf by early May.

The US has initiated "Operation Economic Fury," freezing millions in crypto accounts linked to Iran.

Iran's new service, "Hormuz Safe," provides cryptographic insurance policies for transits, paid in Bitcoin.

US Treasury Secretary Scott Bessent said nearly $500 million in crypto was seized during the operation.

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