04-18-2026Price:

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BITCOIN

Iran demands Bitcoin tolls in Strait chokepoint

Saturday, April 18, 2026 · from 7 podcasts, 8 episodes
7 SOURCESBitcoin AndWhat Bitcoin DidNo AgendaAI Daily BriefStacker News LiveTFTCSimon Dixon Hard Talk
  • Iran reportedly demands Bitcoin for oil transit, breaking petrodollar monopoly.
  • US financial warfare backfires as stablecoin risks expose dollar dependency.
  • Bitcoin shifts from speculative asset to neutral settlement rail in war zones.

Iran demands Bitcoin for passage through the Strait of Hormuz. This isn’t speculation - it’s the logical endpoint of a sanctions-driven fracture in global finance. As the US enforces a naval blockade and secondary sanctions, Tehran is turning to the only payment system it can’t be cut off from: Bitcoin.

On TFTC, Marty Bent reported that the IRGC is allegedly demanding Bitcoin tolls for oil tankers. The move sidesteps both the dollar and stablecoins like USDC, which Circle could freeze under US pressure. As David Bennett noted on Bitcoin And, Bitcoin is no longer trading like a risk-on tech asset. It’s rising while gold falls, priced not as digital gold but as resilient infrastructure.

"Bitcoin is the only neutral settlement layer that allows two hostile parties to move value without a middleman."

- John Arnold, TFTC

The US response is financial, not just military. Treasury Secretary Scott Bessent launched 'Operation Economic Fury,' targeting IRGC revenue and Chinese banks facilitating oil sales. But as Adam Curry detailed on No Agenda, the US is also pushing its own digital dollar alternatives. The $40 billion DFC reinsurance program undercuts Lloyd’s of London, forcing shippers into a US-controlled financial orbit. Meanwhile, the Trump-linked World Liberty Financial is promoting USD1, a stablecoin meant to shore up dollar dominance.

Yet this strategy exposes the fragility of centralized alternatives. Circle’s CEO Jeremy Allaire refused to freeze $230 million in USDC linked to the Drift Protocol hack, citing legal overreach - but now faces a class-action lawsuit for failing to act. As Bennett observed, this legal whiplash proves stablecoins are not neutral. They’re dollar proxies with compliance backdoors. Bitcoin, held in self-custody, isn’t.

"Stablecoins are merely US dollar proxies that a central authority can freeze at any time."

- David Bennett, Bitcoin And

The geopolitical script has flipped. Jeff Ross on What Bitcoin Did argues the US is no longer enforcing the petrodollar - it’s defending a crumbling system. With China buying over 90% of Iranian oil and the UAE freezing Iranian-linked assets, the old Swift-based rails are breaking. Bitcoin isn’t replacing oil trade - it’s becoming the settlement layer for a multipolar world that no longer trusts intermediaries.

Schwab’s rollout of spot Bitcoin trading to millions of clients confirms the shift. This isn’t retail speculation. It’s institutional recognition that the financial world has split: one system for allies, another for neutrals. Bitcoin is the neutral rail.

ProtocolPoliticsStablecoinsTradeEnergy
David BennettMarty BentTrumpCharles SchwabCircleIRGCMicroStrategyUAEWorldcoinBitcoinDrift ProtocolUSDCChinaIranStrait of Hormuz

Source Intelligence

- Deep dive into what was said in the episodes

Bitcoin And | Bitcoin & Economic News
Bitcoin And | Bitcoin & Economic News

Retail: Round 2 | Bitcoin News • Apr 17

  • Iranian Foreign Minister Syed Abbas Aragotchi declared the Strait of Hormuz 'completely open' for the remaining one week of the ceasefire, which sent West Texas Intermediate crude down nearly 10% to $85.90 a barrel.
  • Citi Group analysis found that a portfolio allocation split between gold and Bitcoin improves returns in bond bull markets and provides resilience during bear steepening cycles tied to fiscal concerns.
  • Citi analyst Alex Saunders noted Bitcoin has risen 9% over the past two months while spot gold declined 4%, and that Bitcoin often outperforms gold when bond markets weaken.
  • The narrative that Iran would require Bitcoin-based tolls for oil shipments through the Strait of Hormuz, attributed to an Iranian energy union official, was repeatedly amplified by global media, shifting Bitcoin's perception toward a geopolitical instrument.
  • The U.S. government moved 8 Bitcoin linked to the 2016 Bitfinex hack, worth $606,000, to Coinbase Prime, raising questions about its intended destination despite court-mandated restitution to Bitfinex.
  • The U.S. government holds seized cryptocurrency valued at about $24.5 billion, which it said would form part of a national strategic Bitcoin reserve.
  • Circle faces a class action lawsuit from Drift Protocol investors who lost $285 million in an April 1 exploit, accusing the firm of failing to freeze stolen USDC during an eight-hour cross-chain transfer window.
  • Tether committed up to $127.5 million and other partners $20 million to help recover funds from the Drift Protocol hack, with CEO Paolo Arduino positioning Tether as more responsive than Circle.
  • TRM Labs data shows around $141 billion in stablecoin transactions last year were linked to illicit activity, and investigator ZachXBT documented approximately $420 million in suspicious USDC flows since 2022 that went unblocked.
  • SEC Chair Paul Atkins launched an official podcast, signaling a regulatory shift toward cooperation, with the agency dismissing high-profile crypto cases and seeing enforcement actions fall 22% and monetary relief drop to $2.7 billion from $8.2 billion.
  • Charles Schwab is launching direct spot Bitcoin and Ethereum trading for retail clients through its Schwab Crypto platform, with Paxos handling sub-custody and a transaction fee of 20 basis points.
  • In the Roman Storm acquittal hearing, the defense argued only 15% of Tornado Cash's transaction volume during the contested period was illicit, questioning what threshold constitutes criminal intent.
  • A security researcher discovered sophisticated counterfeit Ledger Nano S Plus devices on a Chinese marketplace, featuring tampered hardware and firmware designed to steal seed phrases via a malicious Ledger Live app.
  • David Bennett reported a bot attack caused Fountain's API to backlog Podcast Index with 500,000 polling requests, preventing his last two episodes from distributing and cratering his download numbers.
Also from this episode: (2)

War (1)

  • The U.S. and Iran are negotiating a plan that includes the U.S. releasing $20 billion in frozen Iranian funds in return for Iran giving up its stockpile of enriched uranium.

BTC Markets (1)

  • Bitcoin derivatives data shows funding rates on perpetual futures have remained negative for over six weeks, indicating persistent bearish positioning that historically precedes upward breakouts as short sellers cover.
BTC MarketsStablecoinsMacroRegulation

Strait To Weird | Bitcoin News • Apr 13

  • Allard's analysis argues the Iran war highlights Bitcoin's value as an open settlement network immune to correspondent banking or state control.
  • Iran's 2025 crypto transaction volume was $8-11 billion, with researchers noting millions moved from Iranian exchanges after strikes.
  • Bennett advocates for Cold Card over Ledger, citing Ledger's repeated hacks and scams, and notes Cold Card's open-source design.
  • Bitget launched Pre-SPECS token offering retail exposure to SpaceX's $1.75 trillion IPO, but grants no equity, voting rights, or ownership.
  • Jeremy Allaire defended Circle's decision not to freeze USDC in the Drift exploit, citing legal obligation and moral quandary unless law enforcement directs action.
  • WLE threatens legal action against Justin Sun after he accused the Trump-linked project of treating users as ATMs over a $75 million stablecoin loan.
  • Trump meme coin holders are invited to a Mar-a-Lago luncheon, with the top 29 getting a private reception, drawing criticism for pay-to-play conflicts.
Also from this episode: (6)

War (1)

  • David Bennett questions the feasibility of a US Navy blockade of Iranian ports, noting intelligence lag and uncertainty over detecting crypto payments.

ETFs (2)

  • Since the Iran war started February 28, 2026, IBIT gained 11.75% while SPY fell 0.6%, gold fell 9.6%, and silver fell 18.72%.
  • Morgan Stanley plans tokenized money market funds and crypto tax strategies after launching its Bitcoin ETF, aiming to expand beyond Bitcoin.

Custody (1)

  • Garrett Dutton lost 5.9 Bitcoin ($420,000) to a fake Ledger app on the App Store, part of a pattern targeting Ledger users.

BTC Markets (2)

  • MicroStrategy bought 13,927 Bitcoin for $1 billion entirely through STRCH sales, bringing its holdings to 780,897 BTC at an average cost of $75,577.
  • Bennett warns against NewsBTC's constant negative Bitcoin headlines, noting their claims about STRCH failing were contradicted by MicroStrategy's $1 billion purchase.
BTC MarketsStablecoinsBankingMacroCustody
What Bitcoin Did
What Bitcoin Did

Danny Knowles

This Is The End Of The Dollar System | Jeff Ross • Apr 17

  • Jeff Ross, a fund manager, argues the 100-day moving average is a key technical resistance level for Bitcoin. He notes Bitcoin was rejected at that level in late October and mid-January 2025, and saw another tentative cross on the day of recording.
  • Ross expects Bitcoin's bear market to persist, predicting one more leg down to sub-$60k levels. He bases this on negative momentum, tightening liquidity, and a strengthening dollar, though he acknowledges a recent dollar break lower could support risk assets.
  • He asserts the U.S. is already in World War III, a conflict seeded in 2008 and marked by proxy wars. Ross predicts a U.S. move to seize Iran's Karg Island to control the Strait of Hormuz, aiming to pressure Iran and gain leverage over China, which is dependent on oil imports.
  • Ross forecasts a multipolar end to U.S. dollar hegemony, with oil increasingly traded in yuan and gold. He interprets U.S. inaction over yuan-based Strait of Hormuz payments as tacit acceptance of this new reality, marking the end of the petrodollar system.
Also from this episode: (5)

Macro (2)

  • He outlines a 'three burners' macro framework: liquidity, manufacturing PMI, and leverage. Ross sees the 'liquidity blob' expanding due to U.S. fiscal war spending, a recovery in the ISM Manufacturing PMI above 50, and a resurgence in bank lending.
  • He references a historical theory that a hegemon's decline begins when its debt interest payments exceed military spending, a threshold the U.S. has now crossed.

Inflation (1)

  • Ross believes the U.S. is entering a period of 'structural inflation' in the 3-6% CPI range, driven by costly onshoring of manufacturing and military buildup. He argues this environment necessitates eventual yield curve control, a form of financial repression that erodes citizen purchasing power.

Fed (1)

  • He views the Federal Reserve as currently irrelevant, 'neutered' by the Treasury, and expects it to become a tool for yield curve control only when war borrowing overwhelms private demand for U.S. debt.

AI & Tech (1)

  • Ross argues AI-driven 'jobless recovery' will create a desperate white-collar class, necessitating a wealth redistribution like UBI. He claims this is not socialist dogma but a pragmatic response to humans competing against superior AI, citing potential civil unrest.
MacroTradeWarMarkets
No Agenda Show
No Agenda Show

Adam Curry

1860 - "micro-dosing" • Apr 16

  • Hosts analyze the US blockade of Iran, framing it as an economic 'Operation Economic Fury' targeting oil revenue and shifting from kinetic military action to stringent financial sanctions and secondary sanctions on banks.
  • The US established a $40 billion reinsurance program through the DFC for ships in the Strait of Hormuz, intended to profit while undercutting Lloyd's of London and restoring shipping confidence.
  • Adam Curry speculates the real US motive for the Iran blockade is to enforce dollar-denominated oil payments, noting China bought over 90% of Iranian oil and received warning letters from the US Treasury.
  • The UAE has frozen Iranian-linked assets, shutting down a dollar-based payment rail through Dubai that previously helped Iran bypass Swift sanctions, potentially under US pressure.
  • John Dvorak highlights Trump-linked World Liberty Financial's deal with Pakistan to explore using its USD1 stablecoin for cross-border remittances, seeing a pattern of financial diplomacy.
  • Fuel shortages and high prices from the Middle East conflict are causing widespread protests in Europe, exemplified by Irish farmers blockading roads and criticizing government climate policies.
  • EU Commission President Ursula von der Leyen responded to energy shortages by suggesting reduced demand, telling citizens to stay home, which the hosts mock as a return to lockdown logic.
  • The International Energy Agency warned Europe has about six weeks of jet fuel left if the Strait of Hormuz remains closed, threatening flight cancellations.
  • Adam Curry deconstructs the takedown of Eric Swalwell, citing multiple sexual assault allegations, a leaked hotel room video, and pressure from his own party during California's gubernatorial race.
  • John Dvorak points to Tulsi Gabbard's report detailing a years-long coup against Trump orchestrated by Obama-era officials using manufactured intelligence, which he says media ignores.
  • Media figures are attacking Trump over AI-generated imagery depicting him with Jesus, using it to question his cognitive state, a tactic the hosts compare to earlier smears.
  • A timeline analysis reveals a potential orchestrated pandemic playbook, from a doctor's report of strange pneumonia in China to a WHO-approved PCR test protocol in under 30 days.
Also from this episode: (3)

Health (1)

  • Adam Curry is recovering from surgery, having liters of fluid drained from his lung cavity via thoracentesis procedures, with more scheduled.

Elections (1)

  • Hosts allege a US-backed regime change in Hungary after Prime Minister Viktor Orban's landslide loss, noting the EU will now push to replace unanimous foreign policy vetoes with qualified majority voting.

Science (1)

  • Adam Curry links plummeting US birth rates, down 23% since 2007, to widespread SSRI use causing permanent post-SSRI sexual dysfunction and emotional blunting, not just social factors.
WarDiplomacyMacroStablecoinsCorruption
The AI Daily Brief: Artificial Intelligence News and Analysis
The AI Daily Brief: Artificial Intelligence News and Analysis

Nathaniel Whittemore

AI Populism Turns Violent • Apr 15

  • Prosecutors charged Daniel Moreno Gamma with 11 counts including attempted murder and possession of an unregistered firearm, which could be treated as domestic terrorism.
  • Research from the EU's Dare project and a review in Terrorism and Political Violence found perceived inequality drives radicalization more powerfully than objective economic conditions.
  • A Journal of Conflict Resolution paper found projected economic decline, not current poverty, motivates political violence by putting people in a 'domain of loss' where they become risk-seeking.
  • Rachel Kleinfeld's 2023 review for the Carnegie Endowment found reducing affective polarization does not reduce support for political violence.
  • Nathaniel Whittemore proposes three solutions: creating credible democratic channels for AI governance, addressing economic trajectory with reskilling programs, and breaking the overt moral frame without dismissing grievances.
Also from this episode: (10)

AI & Tech (6)

  • Nathaniel Whittemore states AI populism turned violent when Daniel Moreno Gamma threw a Molotov cocktail at Sam Altman's home at 4 a.m. on Friday and was later arrested outside OpenAI headquarters with an anti-AI manifesto, kerosene, and a lighter.
  • Sam Altman posted a personal reflection arguing AI is a moral obligation that will be humanity's most powerful tool, but admits the industry must democratize control and ensure democratic systems remain in charge.
  • Jordan Schachtel argues the AI doomer movement's existential risk rhetoric creates a paradox where consistent utilitarians should justify extreme responses, making political violence an inescapable conclusion.
  • Prominent AI safety figures like Geoffrey Hinton and David Krueger condemned the violence, warning it discredits the movement and could lead to government crackdowns.
  • Some critics, like Creep of Voire and Casey Newton, argue the AI industry's own doomer rhetoric about job loss and human obsolescence fueled public fear and backlash.
  • Nathaniel Whittemore argues AI violence stems from a pipeline of real economic pain, perceived inequality, and projected decline, not just industry discourse.

Safety (1)

  • A second attack on Altman's home occurred Sunday morning, with Amanda Thom and Muhammad Tariq Hussain arrested for allegedly firing a gun at the residence.

Society (1)

  • An Emerson poll found 41% of 18- to 29-year-olds in the U.S. agreed it was somewhat or completely acceptable to kill a CEO following the Mangione shooting.

Business (1)

  • Home prices are up 60% since 2019, and the median household must now spend 47.7% of income on a median-priced home, exceeding the 30% affordability threshold.

Psychology (1)

  • A 2025 study showed visual wealth exposure on social media increases upward social comparison and relative deprivation, which then increases hostility toward the rich and provokes aggressive behavior.
SafetyRegulationSocietyStartups
Stacker News Live
Stacker News Live

SNL #219: Killing Satoshi • Apr 13

  • Dan reports his mining unit achieved 43 terahash per second but was too loud, and that his total household power consumption was nearly 4,000 kilowatt hours over three months at a cost equivalent to $681.
  • Keon cites Brian Quintin's Myers-Briggs survey showing Bitcoiners heavily skew toward INTJ (34%) and INTP (22%) personality types, diverging significantly from the general population.
  • The hosts express concern that Mythos could find zero-day vulnerabilities in critical open-source software, including Bitcoin Core, posing a significant security threat if capabilities are locked away.
  • Topher states he trusts Anthropic because the company stood its ground against the U.S. government when its models were being used for lethal purposes.
  • Keon sees the open-agents movement, where people sell compute for Bitcoin, as a bullish counterbalance to centralized AI power and a potential defense against models like Mythos.
  • Aardvark proposes a quantum-safe Bitcoin transaction scheme using Lamport signatures, which results in a 10,000-byte script size and requires 150 dummy signatures with hash commitments.
  • The hosts discuss the upcoming movie 'Killing Satoshi,' directed by Doug Liman and starring Pete Davidson, Casey Affleck, and Gal Gadot, which fictionalizes an investigator trying to expose Bitcoin's creator.
Also from this episode: (6)

War (1)

  • Keon discusses a story about an F-15E Strike Eagle aircraft with two airmen being shot down over Iran.

Mining (2)

  • Dan, a Bitcoiner in Iceland, shares his experience with a home Bitcoin mining heater called the Open Two from a company called 21 Energy.
  • Dan earned 115,000 sats, worth about $80, from his mining heater over the same period, projecting a 26-month payback period for the device.

Adoption (1)

  • NeedCreations launched btcedu.app, a Bitcoin education archive where users can earn points and withdraw 100 sats after accumulating 1,000 points.

AI & Tech (2)

  • The hosts discuss a New Yorker article characterizing Sam Altman as dishonest, citing his firing from OpenAI's board and claims of misleading Anthropic's founder about AI safety commitments.
  • Anthropic is working with 40 companies through 'Project Glasswing' to test its new AI model, Mythos, for cybersecurity vulnerabilities before a public release.
ModelsSafetyMacroPsychologyAI Infrastructure
TFTC: A Bitcoin Podcast
TFTC: A Bitcoin Podcast

Marty Bent

Ten31 Timestamp: You Say Ceasefire, and I Say Escalation • Apr 13

  • John highlights a map from Rory Johnson showing a significant redirection of Very Large Crude Carriers (VLCCs) to the US Gulf, indicating a shift in oil market leverage towards the US amid global artery closures.
  • China is curbing sulfuric acid exports starting in May, responding to perceived US leverage and potential disruption to metal processing, phosphate fertilizers, and fibers.
  • Marty and John observe Bitcoin's relative strength, trading around $71,800, acting as a risk-off asset during geopolitical and financial uncertainty, contrary to past liquidity crises.
  • John suggests a fractured, multipolar global order, where just-in-time supply chains falter and trust diminishes, creates an ideal environment for Bitcoin as a neutral, sovereign store of value.
  • John theorizes the urgent meeting of Wall Street leaders with Treasury and Fed officials, ostensibly about Mythos' cybersecurity risks, might be a 'red herring' to discuss broader systemic financial issues.
  • A Financial Times report, though unconfirmed, speculated that Iran's IRGC might accept Bitcoin for tolls in the Strait of Hormuz, demonstrating Bitcoin's growing recognition for sensitive international transactions.
  • Marty emphasizes Bitcoin's suitability for large, sensitive international oil trades requiring final settlement via on-chain multi-sig transactions, bypassing trusted third parties.
  • John argues stablecoins are unsuitable for adversaries of the US in untrusted payment environments, as they fundamentally wrap the US banking system, offering less autonomy than Bitcoin.
  • The Trump administration is reportedly floating a 1% remittance tax, making Bitcoin a more attractive, pseudo-anonymous alternative to traditional banking or stablecoins for circumventing such fees.
Also from this episode: (5)

War (1)

  • Marty Bent notes US Navy blockaded Iranian ports in the Strait of Hormuz, following brief talks between JD Vance and an Iranian faction, leading to oil market escalation.

AI & Tech (2)

  • Anthropic's Mythos AI model is presented as a significant step function improvement, with reports of it finding zero-day bugs in critical software, prompting national security concerns and government attention.
  • Marty references reports suggesting Anthropic's Mythos AI model is not as groundbreaking as claimed, with existing models capable of similar zero-day discoveries, which are illegal to exploit.

Business (2)

  • Marty highlights warnings from the Treasury about private equity and credit exposure for insurance companies, identifying a potential 'trillion-dollar hole' as a slow-moving liquidity crisis.
  • An AMBEST report indicates annuity-selling insurance funds are in a significantly worse financial position than before the 2008 crisis due to private credit exposure.
BankingMacroModelsTradeInflation
Simon Dixon Hard Talk
Simon Dixon Hard Talk

The Real Agenda Behind Hormuz: Oil, China & The Biggest Wealth Transfer in History - Danny (CapitalCosm) interviews Simon Dixon • Apr 13

  • Simon Dixon predicts the closure of the Strait of Hormuz will trigger financial market destruction, oil-driven inflation, and a forced recession through demand destruction within one month.
  • Dixon identifies key economic pressure points: oil above $150, the 10-year Treasury hitting 4.5%, and the 30-year at 5%. He claims the Trump administration uses escalations to pull oil prices back down from these levels.
  • Dixon argues the intended disinflationary tools - regime change for lower rates, AI productivity gains, and low energy prices - have all failed, leaving demand destruction via recession as the only remaining inflation fix.
  • Dixon observes a successful PR rebranding of Iran's IRGC among American youth, who now see them as heroes fighting the 'Epstein class' and view Israel as a pariah state controlling the US government.
  • He frames the conflict as a power struggle between transnational capital (financial/technical industrial complex) and the old hardliner military-industrial complex, with Trump working for the former.
  • Dixon predicts a post-crisis money print of $7-10 trillion to bail out AI infrastructure under national security, alongside stimulus for the military and financial industrial complexes.
  • He states 121 empty oil tankers are heading to the US, far above the typical 27, framing this as a win for transnational capital (Big Oil) funded by American taxpayers, not a sovereign American victory.
Also from this episode: (6)

War (4)

  • Dixon interprets the war as a bounded, three-way operation to decapitate hardliner IRGC leaders, destroy Iranian and US military infrastructure, and set up a massive China-led regional rebuild, paving the way for GCC-Iran normalization.
  • He claims the IRGC is a decentralized force with 31 units and deep underground supply chains, making a full US ground invasion militarily impractical and requiring up to two million troops.
  • He offers three scenarios that would falsify his model: a successful US ground invasion of Iran, a real US-China war, or Israel triggering a nuclear 'Samson Option', proving the military-industrial complex still controls the forever war.
  • Dixon analyzes Hungary's election result as significant for ending EU unanimity via Orban, allowing more Ukraine war funding (bad for Ukraine), potential EU trade sanctions on Israel, and being ultimately good for Russia and transnational capital.

Business (1)

  • Dixon's survival advice is to own fixed assets, as the crisis will accelerate wealth concentration and wipe out the indebted middle class; those without assets must build local community supply chains.

Markets (1)

  • He notes the Norwegian Sovereign Wealth Fund, the world's largest, divested from Israel, and views Trump's provocative religious imagery as part of a subliminal moral rebranding for a new world order.
MacroEnergyInflationAI InfrastructureMiddle East

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