Trading the Iran War, Crypto Still Outperforming, and Hype is Dominating

Crypto majors are slightly green after yesterday’s major bounce; BTC +1% at $71k; ETH even at $2,160; SOL +2% at $92. APT (+11%), TAO (+10%), and ZRO (+9%) led top movers. Oil held steady at $90; Gold also flat at $4,410. Nasdaq partnered with institutional crypto infra firm Talos to connect crypto trading and risk tools with its Calypso platform, the same system banks and funds use to manage collateral and surveillance across stocks and bonds. Former Kalshi employees are raising $35M for a new prediction market venture fund, backed by both the Kalshi and Polymarket CEOs. ParaFi Capital raised $125M for a new venture fund focused on stablecoins, tokenization, and institutional on-chain finance.