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Crypto Markets Slide After IRGC-linked Channel Claims Gulf Strikes
An IRGC-linked channel claimed missile strikes on US Gulf bases, sending Bitcoin lower. The unverified reports have traders watching for confirmation of the escalation.
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An IRGC-affiliated Telegram channel claimed a large-scale missile and drone assault on US military bases across the Persian Gulf, including the US Navy's Fifth Fleet headquarters in Bahrain and Ali Al Salem Air Base in Kuwait. The US military disputed the scope of the claims, particularly regarding casualty figures. Crypto assets fell in Asian trading as traders weighed the potential for escalation.
The channel alleged strikes on approximately 85 US installations in a single operation. The reports are not independently verified. The IRGC-linked channel frames the strikes as retaliation for US-Israeli military actions in late February 2026. Ali Al Salem Air Base in Kuwait is a key logistics hub for US operations. The Fifth Fleet's Bahrain headquarters controls naval operations across the Persian Gulf, Red Sea, and Indian Ocean.
The reports also mention the IRGC demanding cryptocurrency payments for safe passage through the Strait of Hormuz. Roughly 20% of global oil trade passes through the strait. The US Treasury has documented Iranian entities using crypto to circumvent sanctions infrastructure for years.