US sanctions Dubai crypto exchange Shelbit over Iran financial transactions

The Trump Media & Technology Group announced a larger second-quarter loss, while the United States imposed sanctions on Dubai-based cryptocurrency exchange Shelbit. The sanctions accuse Shelbit of facilitating financial transactions for Iran’s Islamic Revolutionary Guard Corps (IRGC), marking an escalation in the U.S. financial pressure on Iran. This development is part of the long-standing U.S.–Iran sanctions conflict, with Washington targeting networks it claims assist Iran in evading international financial restrictions. The sanctions on Shelbit are alleged to be connected to a $4 billion operation involving Iranian funds. Market participants have perceived these sanctions as indicative of increased U.S. pressure on Iran, which may impact the likelihood of reaching a final nuclear deal. The current pricing for the “US-Iran Final Nuclear Deal by August 13, 2026” market reflects minimal confidence, with a 0.1% probability of a YES resolution. Similarly, subsequent deadlines in August and September show low probabilities, suggesting that market participants view the recent sanctions as a deterrent to a near-term agreement. Key Takeaways The imposition of sanctions on Shelbit by...