Bitcoin and other cryptos dropped hard after Israel said it launched a preemptive strike on Iran on Saturday.
Bitcoin fell as much as 4.2% to $62,938, while Ether, the second-largest token, slid 5% to $1,783. About $128 billion in market value was wiped out right after the news, according to CoinGlass data.
In an eight minute-long video posted on Truth Social, Donald Trump confirmed the US was involved in the attack on Iran.
“Our objective is to defend the American people by eliminating imminent threats from the Iranian regime, a vicious group of very hard, terrible people,” Trump said in the video.
In Tehran, Fars said three large explosions were heard in the city center and that several missiles likely hit the capital. Iranian state television reported thick smoke rising in parts of the capital.
AP said one strike took place near the office of Iran’s Supreme Leader, Ali. Israel’s defense minister, Israel, said the attack was carried out “to remove threats,” but he did not give more details.
The strikes come days after the US and Iran held a third round of talks in Switzerland on Thursday aimed at resolving their standoff.
Ahead of those discussions, Marco said Iran’s refusal to discuss its ballistic missile development program, alongside its nuclear program, was a “big, big problem.” Iran said it was open to compromise on its nuclear program, but has repeatedly said Tehran’s missile program was never on the talks agenda.