Sen. Richard Blumenthal (D-NY) has launched an investigation into Binance (CRYPTO: BNB) after $1.7 billion flowed to Iranian terrorists including the Revolutionary Guard Corps, demanding records on why compliance staff who discovered the transfers were fired.

The $1.7 Billion Flow

Blumenthal wrote to Binance CEO Richard Teng citing Wall Street Journal, New York Times, and Fortune reports.

Binance compliance staff found two partners—Hexa Whale and Blessed Trust—acted as intermediaries for laundering money to Iranian government entities.

Internal investigators found cryptocurrency transfers to wallets associated with Iran’s Islamic Revolutionary Guard Corps and payments to crew members…

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Strategy (NASDAQ:MSTR) has become the most heavily shorted U.S. stock at 14% of market cap, but analysts say much of the positioning reflects basis trades rather than bearish bets.

The Short Interest Surge

Short bets on Strategy equal 14% of its $34 billion market cap at the time of the FactSet and Goldman Sachs report, making it the most shorted stock tracked among companies over $25 billion. Coinbase (NASDAQ:COIN) ranked fourth at 11%.

The positioning coincides with roughly $7 billion in unrealized losses on Strategy’s Bitcoin (CRYPTO: BTC) holdings.

The company holds 717,722 BTC worth $47 billion, purchased at an average price of $76,020 per coin.

The Basis Trade Explanation

Analysts say…

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Bitmine Immersion Technologies Inc (NYSEAMERICAN: BMNR) jumped in premarket trading Wednesday, as Ethereum (CRYPTO: ETH) staged a recovery.

Ethereum’s bounce comes after a brutal stretch that saw the asset shed roughly 38% over the past month.

Crypto trader Don Wedge had flagged the setup, noting that ETH was sitting at a major support zone with two likely paths — either a bounce from current levels, or a sweep of key support before reversing higher.

BitMine’s Massive Accumulation

BitMine has been aggressively building its Ethereum treasury through the downturn. The company acquired 51,162 ETH for $98 million last week, lifting total holdings to approximately 4.4 million ETH —…

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Cryptocurrency analyst Willy Woo countered former White House official David Stockman‘s critique of Bitcoin’s (CRYPTO: BTC) “store of value” narrative on Tuesday, noting that top Wall Street stocks endured similar volatility in the past.

Stockman Mocks Bitcoiners

In an X post, Stockman questioned Bitcoin’s recent performance, highlighting its 48% drop from record highs to $65,000 in just four months.

Stockman, a fierce critic of all things cryptocurrency, jabbed at Bitcoiners, saying that they might be loving this “store of value” performance.

“Then again, a speculative asset is one thing; real money is a wholly different kettle of fish,” the former Reagan budget…

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Ethereum (CRYPTO: ETH) creator Vitalik Buterin encouraged AI company Anthropic on Tuesday to stick to its position on autonomous weapons and mass surveillance, even at a cost.

Buterin Wants Anthropic To Respect The ‘Red Lines’

In an X post, Buterin praised Anthropic for barring its technology from being used for mass surveillance of Americans or the development of fully autonomous weapons, which he describes as the “two red lines.”

“It will significantly increase my opinion of Anthropic if they do not back down and honorably eat the consequences,” the cryptocurrency mogul said.

Buterin defended Anthropic, calling their stance “conservative and limited,” and far from being…

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Wall Street analyst Tom Lee interpreted the surge in short interest for Strategy Inc. (NASDAQ:MSTR) as a contrarian bullish signal on Tuesday.

BTC Bottom Is Here?

In an X post, Lee stated that when a stock becomes a “consensus” short, it often signifies a crowded trade. This, he argued, could lead to the stock rallying even on “bad news” as the negative impact is already priced in.

Lee’s comments came in response to Strategy becoming the most shorted large-cap U.S. stock as investors piled into bets against the firm’s Bitcoin (CRYPTO: BTC) playbook.

Strategy Becomes Most Shorted Stock

Renowned investor Steve Eisman, famed for his role in predicting the 2008 financial crisis,…

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Leading cryptocurrencies rallied in tandem with stocks on Tuesday, even as tariff uncertainty and geopolitical tensions weighed on the market.

Crypto Market Edges Up Slightly

Bitcoin spiked to $66,000 overnight, driving similar rallies across the rest of the market.

Ethereum surged to $1,910 after lingering around $1,850 most of the day. XRP and Dogecoin also recorded upsides.

Nearly $380 million was liquidated from the market in the last 24 hours, according to Coinglass, with short liquidations accounting for the majority. 

Meanwhile, Bitcoin’s open interest fell 0.35% over the past 24 hours. An increase in price combined with a decrease in Open Interest typically indicates entry of short…

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