Also: Neobanks trending, DVT staking proposal and Solayer $35M fund 

Elliptic traced more than $500 million in USDT tied to Iran’s central bank, suggesting the stablecoin was used to manage foreign-exchange pressures and build a “sanctions-proof” alternative to dollar banking. 

Network activity has risen, driven by speculation around AI tokens, with active addresses increasing from 14.7 million to 18.9 million in a week. 

There was a modest bounce after the president said the U.S. had no intention of taking Greenland by force, but prices quickly resumed their decline. 

In this week’s Crypto Long & Short Newsletter, David Mercer of LMAX Group writes on tokenization and capital markets that won’t sleep. Then, Andy Baehr looks ahead to crypto’s “sophomore year.”