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Bitcoin drops to $60,000 as escalating Middle East tensions rattle the crypto market

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Bitcoin drops to ,000 as escalating Middle East tensions rattle the crypto market

Illustration: Malte Mueller (Getty Images)

Bitcoin fell to $60,000 on Tuesday evening as tensions in the Middle East worsened due to Iran’s attack on Israel. The leading cryptocurrency dropped nearly 5%, trading at $60,834.

Ether, the second-largest cryptocurrency by market capitalization, which had been outperforming Bitcoin just days prior, saw a steeper decline, plunging over 6% to hover around $2,450.

The sharp sell-off in the crypto market mirrors the negative sentiment that gripped the broader financial markets on Tuesday following Iran’s attack on Israel. The geopolitical uncertainty has rattled investors, leading to a widespread risk-off approach.

Other major cryptocurrencies also took a hit, with Solana, Cardano, and Dogecoin falling by over 8%, 7.5%, and 10%, respectively, over the past 24 hours. As a result, the global cryptocurrency market cap dropped 4.7% to $2.14 trillion, according to data from CoinMarketCap.

The market’s volatility underscores the broader impact of geopolitical events on investor confidence across asset classes, particularly within the more speculative crypto space.

Crypto ETFs have mixed results

Meanwhile, spot Bitcoin exchange-traded funds (ETFs) and spot Ether ETFs had mixed outcomes. According to ETF tracker Farside, while spot Bitcoin ETFs experienced inflows in the past week, spot Ether ETFs saw a mix of inflows and outflows.

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Investors will keep an eye on the trend in the coming days following the Fed’s interest rate cut and the escalating tension in the Middle East.

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Bitcoin Advocate Robert Kiyosaki Sells $2.25 Million in Cryptocurrency | ForkLog

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Bitcoin Advocate Robert Kiyosaki Sells .25 Million in Cryptocurrency | ForkLog

Robert Kiyosaki sold $2.25M in Bitcoin for cash flow, investing in surgery centers and billboards.

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Entrepreneur and author of the bestseller “Rich Dad, Poor Dad,” Robert Kiyosaki, announced that he sold his bitcoins worth $2.25 million to generate “additional cash flow.”

The investor noted that he bought the coins “years ago” when they were priced at about $6,000. The selling price was approximately $90,000.

Kiyosaki invested the proceeds in two surgical centers and a billboard business.

“Practicing What I Teach”

This is how the entrepreneur titled his post. He estimates the new investments will bring him a monthly tax-free income of ~$27,500. This is expected to expand his revenue to “hundreds of thousands” per month, considering the existing income from real estate.

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Nevertheless, Kiyosaki assured: 

“I remain very bullish and optimistic about Bitcoin and will start buying more when I have positive cash flow.”

He described his investments from the cryptocurrency sale as a real-life implementation of a “get rich plan.” Kiyosaki stated that his actions align with the teachings of “Rich Dad, Poor Dad” and his board game “Cashflow.”

In recent years, the entrepreneur has regularly urged the accumulation of bitcoins, gold, and silver as opposed to “fake dollars.” He also predicted “the biggest stock market crash” and the collapse of the global financial system.

However, he concluded his post about selling cryptocurrency with the phrase:

“The world economy is booming.”

Why Not Borrow?

In 2024, Kiyosaki revealed that he owns 15,000 homes, acquired through bank loans. He rents out the properties and, thanks to buying on credit, pays no taxes.

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Around the same time, he admitted that his liabilities to financial institutions amount to $1.2 billion. Kiyosaki stated that he sees no issue with this, as he uses borrowed funds for investments.

The entrepreneur contrasted this approach with the strategy of his friend Dave Ramsey, whose advice is: “live debt-free.”

Ramsey’s family office also built a real estate empire valued at about $600 million, but entirely with available funds.

“For most people with low financial literacy, Dave’s advice is the wiser choice. For financially savvy and experienced investors, my approach might be better,” Kiyosaki stated.

In October 2025, on the podcast The Iced Coffee Hour, the entrepreneur casually responded to a question about his debt size: “a billion, maybe two.” Regarding potential default concerns, he further made a remark that caught the community’s attention:

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“If you owe banks $20 million and can’t repay, you’re in trouble. But if it’s a billion dollars, it’s their problem.”

Earlier in November, Kiyosaki once again warned of an “impending crash.” He emphasized that he continues to buy “gold, silver, bitcoins, and Ethereum, even when they fall.” His forecast for the leading cryptocurrency is $250,000 in 2026.

Given all this, commentators raised reasonable questions about why the sale of a digital asset was necessary for investments of a relatively small amount by Kiyosaki’s standards. Users noted that the entrepreneur could have simply slightly increased his debt, which he sees no problem with.

The anticipated growth of Bitcoin by Kiyosaki would have brought him about $4 million in income over a year on the realized volume of cryptocurrency. The additional cash flow from the new investments he declared will amount to about $300,000 over this period.

On Friday, November 21, Bitcoin prices fell below $83,000. Experts did not rule out a further decline to $70,000.

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Bitcoin Heading to $73K? Max Pain Point Frames Potential Bottom Within Wider Range

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Bitcoin Heading to K? Max Pain Point Frames Potential Bottom Within Wider Range
Bitcoin’s push into the $73,000–$84,000 reset range tied to Strategy and Blackrock’s Ishares Bitcoin Trust (IBIT) is concentrating pressure that could flush out sellers and fortify institutional positioning, according to an expert, setting up a stronger base.
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Cryptocurrency backed by Farage donor is used for Russian war effort, investigators say

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Cryptocurrency backed by Farage donor is used for Russian war effort, investigators say

A cryptocurrency backed by one of Nigel Farage’s biggest donors has been used to help Russia fight its war against Ukraine, British investigators say.

The National Crime Agency has spent four years trying to crack a multibillion-dollar scheme that exchanges cash from drug and gun sales in the UK for crypto, digital tokens that are designed to hide their users’ identities.

The scheme has enabled “sanctions evasions and the highest levels of organised crime, including providing money-laundering services to the Russian state”, the agency says.

Of the $24m (£18.3m) in crypto that the NCA and its counterparts abroad have so far been able to seize, the “vast majority” was issued by Tether.

A private company headquartered in El Salvador, Tether has grown so popular that it declared profits of $13bn for 2024, one-and-a-half times those of McDonald’s. Tether’s shares are reportedly owned by a small group, among them Christopher Harborne, one of the UK’s biggest political donors. Harborne took a 12% stake around 2016, court papers say, although it is unclear what share of Tether’s profits he has received.

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Christopher Harborne, who is one of Britain’s biggest political donors, took a 12% stake in Tether around 2016. Photograph: George Cracknell Wright/LNP

In 2019-20, as the UK was leaving the EU, Harborne gave £10m to Nigel Farage’s Brexit party, since renamed Reform UK. In January, Farage accepted another £28,000 from Harborne to attend Donald Trump’s inauguration as president – the month after the US placed sanctions on the Russian bosses of the laundering networks and publicly warned they were using Tether.

Reform UK, the first British political party to accept donations in crypto, did not respond to a request for comment. Harborne’s lawyers said that accusing an investor in Tether of complicity in crimes perpetrated by users of its tokens would be “akin to claiming the US Treasury is an accomplice in money laundering because it prints the US dollar”.

While there is no suggestion that Harborne himself is implicated in the money-laundering scheme, some of his fortune appears to have come from a company whose cryptocurrency is in high demand from illicit networks such as the Russian ones unearthed by the NCA’s Operation Destabilise.

Unlike volatile cryptocurrencies such as bitcoin, Tether’s tokens are stablecoins, whose value is pegged to the dollar, making them easier to exchange for real currencies. Buyers of newly minted Tether stablecoins – called USDT – pay one dollar for each. Tether holds this cash to maintain the stablecoin’s peg, and makes money from the interest or investment return on it. About 184bn USDT are in circulation.

A Tether representative said the company “unequivocally condemns the illegal use of stablecoins and is fully committed to combating illicit activity”.

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“Tether tokens are often acquired and circulated through secondary markets and peer-to-peer platforms. These flows are not controlled by Tether but we remain vigilant and ready to act when law enforcement identifies illicit activity,” the spokesperson added.

But crypto experts say all demand – including illicit demand – benefits the company by driving up the cash reserves from which Tether makes its billions in profit.

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Harborne, a former McKinsey consultant, is not an executive at Tether. He also has interests in aviation fuel, military contractors and a wellness centre in Thailand, where he lives, going by British and Thai names. He describes himself as an “intensely private person”.

As well as helping Farage and his parties, Harborne has given money to the Conservatives and donated £1m to Boris Johnson when he left Downing Street in 2022. The Guardian revealed that after the donation Harborne accompanied Johnson on a visit to Ukraine. Neither has said why.

Johnson did not respond to a request for comment. A Tory spokesperson said: “All donations to the Conservative party are accepted in good faith and only after thorough due diligence to ensure they come from permissible sources. We take our legal and compliance responsibilities extremely seriously.”

NCA investigators say cryptocurrency has “turbocharged” money laundering, with the Russian laundering scheme switching to Tether shortly before 2020.

Sal Melki, the NCA’s deputy director of economic crime, said: “A line can be drawn from this money-laundering scheme to support for companies involved in the Russian military-industrial base.”

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The NCA launched Operation Destabilise in 2021 when it rumbled a ransomware gang whose proceeds were being laundered by a Russian socialite. Working with their US, French and Irish counterparts, investigators established that the laundering network, known as Smart, and another, called TGR, were shifting billions of pounds.

The NCA’s investigators believe the TGR network has “supported companies involved in the Russian military-industrial base”. It has, they say, “facilitated the export of electronic components to Russia”.

Western countries have imposed sanctions seeking to restrict the Putin regime’s access to computer chips and other hard-to-find components for drones and missiles, yet the weapons continue to rain down on Ukraine. Ukraine’s president, Volodymyr Zelenskyy, said in October that the weapons systems Russia used in a single day of deadly air attacks contained more than 100,000 foreign-made parts, including British microcomputers.

NCA investigators say Russian intelligence agents tried to fund a spy ring of six Bulgarians it was running in the UK via the Smart laundering network. The espionage included hunting an investigative journalist who had helped implicate Russian spies in the poisoning of the opposition politician Alexei Navalny. The Bulgarians were jailed in May after an Old Bailey trial.

The networks have also helped rich Russians in the west access cash – as much as £100,000 a time – to maintain the lifestyles to which they are accustomed despite sanctions, the investigators say.

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The NCA has little hold over Tether, a spectacularly profitable venture in a largely unregulated industry based in a Central American dictatorship.

Melki said: “We work with any global crypto firm that wants to work with us, in addition to those regulated in the UK, but there’s no free pass for crypto firms. They all have a role to play in limiting their exposure to bad actors.”

The Tether representative said it had “a proven track record as the industry leader in working with global law enforcement to stop bad actors”.

The company has frozen or blocked more than $3.4bn in USDT in collaboration with more than 300 agencies in 62 countries, the representative added.

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