Here’s a look at all the crypto news coming through from yesterday.
Crypto update, tensions Ignite Massive Capital Flight from Iran
In the latest crypto update shaking the Middle East scene, Iran’s biggest exchange, Nobitex, lit up like fireworks right after US and Israeli airstrikes hammered Tehran over the weekend. Withdrawals skyrocketed more than 700% in mere minutes, hitting over $500,000 almost instantly as people scrambled to pull their funds out.
Blockchain sleuths at Elliptic spotted the frenzy firsthand, saying outflows jumped to nearly $3 million in just one hour that day. They’re calling it a classic sign of capital flight from Iran, with a good chunk of that money racing straight to overseas exchanges.
“This lets folks move assets out while dodging the heavy eyes on traditional banks,” Elliptic noted. A brutal nationwide internet blackout kicked in soon after, slamming the brakes on even more withdrawals.
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In European crypto updates, banks seek exchange partners for 2026 stablecoin launch
Shifting gears to Europe in this crypto update, Qivalis is bringing together heavy hitters like ING, UniCredit, BBVA, and others to talk with crypto exchanges, market makers, and liquidity providers to roll out their euro-pegged stablecoin, eyed for launch in the second half of 2026.
The banks plan to distribute the stablecoin themselves too, building on the nine founding members announced back in September 2025. It’s a clear signal that traditional finance wants in on the stablecoin game, and they’re lining up partners to make sure it hits the ground running with real liquidity.
Millions of Iranians are leaning harder than ever on crypto
Meanwhile, millions of Iranians are leaning harder than ever on crypto to sidestep their shaky banking system and crushing sanctions. The recent collapse of Ayandeh Bank, one of the country’s largest private lenders, wiped out trust for over 42 million customers after it racked up $5.1 billion in losses and nearly $3 billion in debt.
Iran’s central bank has already flagged eight more local banks as teetering on the edge without serious fixes.
Even Iranian exchanges aren’t immune to drama; Nobitex itself got hit with an $81 million hack last June. Yet in moments of crisis, like the weekend’s airstrikes, crypto keeps proving it’s the go-to escape hatch when fiat rails fail.
Stay tuned for more crypto updates.
