Iran launched missile and drone attacks on Kuwait and Bahrain, escalating geopolitical tensions and spilling into financial markets as the crypto sector saw about $700 million in liquidations, according to Crypto Briefing. The report said the strikes affected global markets and energy costs, and argued the fallout could have longer-term implications for crypto stability. The episode underscores how digital-asset markets, despite running on decentralized infrastructure, can remain exposed to geopolitical shocks through investor sentiment, risk aversion, cross-market volatility and energy-driven macro pressures.