Bitcoin Slips Below $64K Post-FOMC, US Sanctions Iranian Crypto Entities, and Tether Partners with Nairobi Exchange
Key Takeaways
- •Bitcoin fell about 0.5% overnight and slipped below $64,000 after the FOMC meeting.
- •Spot Bitcoin ETFs recorded $32.1 million in net inflows after four consecutive days of outflows.
- •The total crypto market capitalization declined roughly 0.5% to about $2.27 trillion, while the Fear & Greed Index stayed in the Fear zone at 28.
- •The US Treasury sanctioned the Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority over alleged sanctions evasion involving Bitcoin and other cryptocurrencies.
- •Tether signed a memorandum of understanding with the Nairobi Securities Exchange to explore blockchain-based market infrastructure, tokenized securities and investor education.
Bitcoin declined approximately 0.5% overnight, falling below the $64,000 mark in the wake of the latest Federal Open Market Committee (FOMC) meeting. While no interest rate increase was formally announced, SEC Chair Paul Atkins signaled that further rate hikes may lie ahead, prompting a modest sell-off across cryptocurrency markets. The FOMC's monetary policy decisions are closely watched across risk assets, and digital currencies have tended to react to shifts in rate expectations as they influence liquidity conditions and investor risk appetite. The broader crypto sector nonetheless weathered the session better than US equities, which saw approximately $1 billion in value erased overnight.
A bright spot emerged on the ETF front. Bitcoin exchange-traded funds broke a four-day outflow streak, closing the session with $32.1 million in net inflows. BlackRock accounted for $89.8 million in purchases, offsetting $43.1 million in sell-offs by Fidelity. Since their approval by US regulators in January 2024, spot Bitcoin ETFs have become a primary conduit for institutional exposure to Bitcoin, and their daily flow data is now tracked as a barometer of professional investor sentiment.
The total cryptocurrency market capitalization fell roughly 0.5% to approximately $2.27 trillion. Daily trading volume across the crypto market rose to $63.4 billion, up from around $61 billion the previous day. The Fear & Greed Index dropped one point to 28 out of 100, remaining firmly in the "Fear" zone. The index aggregates market volatility, momentum, social media signals, and dominance data into a composite sentiment score. The muted market reaction suggests participants are still processing Atkins's FOMC remarks before repositioning.
US Treasury Sanctions Iranian Maritime Entities Over Crypto-Funded Sanctions Evasion
The US Treasury Department has sanctioned two Iranian maritime organizations tied to an insurance network that officials say is controlled by the Islamic Revolutionary Guard Corps (IRGC). According to the Treasury's announcement, one of the sanctioned entities accepted Bitcoin and other cryptocurrencies as a means to circumvent international sanctions. The designated entities operated in and around the Strait of Hormuz, a narrow shipping channel through which roughly one-fifth of global daily oil consumption transits, making it one of the world's most strategically critical maritime corridors.
The Office of Foreign Assets Control (OFAC) designated the Persian Gulf Marine Insurance Company and the HormuzSafe Marine Services Authority. US authorities allege that these organizations ran a scheme compelling commercial vessels to purchase approved insurance policies before transiting the Strait of Hormuz.
In addition to the two primary designations, the Treasury added eight companies linked to Iran's so-called shadow fleet to its sanctions list and blocked eight vessels. The term "shadow fleet" refers to aging, often reflagged or unregistered tankers used by sanctioned producers to move oil exports outside established commercial channels. OFAC asserts that HormuzSafe accepted payments in Bitcoin and other digital assets to facilitate sanctions evasion. The agency further alleges that revenue generated through these operations was used to finance the IRGC and that the arrangement reinforced Iran's grip on shipping activity in the Strait of Hormuz.
The designations form part of a wider pattern of OFAC actions targeting the use of digital assets by sanctioned jurisdictions, which has previously included crypto wallets linked to North Korean actors, Russian entities, and Hezbollah.
Blockchain analytics firm Chainalysis noted the developments on social media:
The US Treasury Department just sanctioned two Iranian companies for extorting vessels passing through the Strait of Hormuz. HormuzSafe and the Persian Gulf Marine Insurance Company offered "insurance" plans in exchange for payments in crypto. Chainalysis has investigated these…
— Chainalysis (@chainalysis) July 29, 2026
Tether Partners with Nairobi Securities Exchange to Advance Blockchain Adoption in Africa
Tether has signed a memorandum of understanding with the Nairobi Securities Exchange (NSE) to jointly explore blockchain-based capital market infrastructure, tokenized securities, and digital asset education in Kenya. Tether is the issuer of USDT, the largest stablecoin by market capitalization, which is widely used for trading, remittances, and cross-border settlement across global crypto markets. The partnership is intended to support the modernization of one of Africa's largest stock exchanges and broaden access to digital financial services for both domestic and international investors.
According to Tether, the agreement centers on assessing blockchain applications for securities trading, strengthening investor education, and upgrading market infrastructure. The initiative aligns with the NSE's wider strategy to adopt emerging financial technologies and deepen participation in Kenya's capital markets. Kenya has been a regional pioneer in digital finance, with the M-Pesa mobile money platform demonstrating the country's capacity for fintech adoption at scale and providing a foundation for broader digital financial innovation.
The collaboration will investigate how distributed ledger technology (DLT) can enable the tokenization of financial assets and compress settlement timelines on the NSE. The two parties plan to evaluate Tether's Hadron tokenization platform for issuing and trading tokenized securities and other real-world assets.
The initiative also encompasses exploring instant settlement mechanisms that could replace the exchange's current multi-stage settlement process. Additionally, the feasibility of using USDT within a digital settlement infrastructure will be reviewed, subject to applicable regulatory permissions.
NSE CEO Frank Mwiti stated that the agreement is consistent with the exchange's 2025–2029 Strategic Plan. Kenyan financial news outlet Kenyan Wall Street reported on the partnership:
The Nairobi Securities Exchange has signed a Memorandum of Understanding with Tether to explore digital asset education, tokenization and financial market innovation.
NSE CEO Frank Mwiti said the deal aligns with its 2025-2029 Strategic Plan, while Tether CEO Paolo Ardoino…
— Kenyan Wall Street (@kenyanwalstreet) July 28, 2026