Michael Thaler: STRC Bitcoin credit spread narrows to 59 basis points

Crypto high-frequency trading firm LO:TECH has raised $12 million in Series A funding, led by MMC, with participation from Faction, 13 Books Capital, and Atka. LO:TECH plans to use the funding to expand into the New York and Singapore markets and to establish trading execution services in traditional finance, digital assets, and prediction markets. (Source: TFN)

Glassnode data shows that BTC sellers continued to cut their losses and exit the market below $80,000, with last week marking the longest period of daily net realized losses since mid-August. If the price remains above $75,000, it would be consistent with the pattern of local lows formed during the concentrated loss periods in August and September.

Tokenized securities platform tZERO plans to merge and go public with special purpose acquisition company FG Imperii Acquisition Corp., in a deal valued at $350 million. The transaction is expected to bring up to $231 million in SPAC trust funds to the merged company, which plans to list on the NYSE U.S. market in early 2027 under the ticker symbol TZRO. Current CEO Alan Konevsky is expected to remain in his position.

Iranian negotiators left Doha on Sunday as a draft agreement aimed at ending the US-Iran war circulated. Iranian Foreign Ministry spokesman Bagheri confirmed that the talks were based on Iran's seven-step proposal put forward in September, the core of which included the US ending its blockade of Iranian ports, Iran reopening the Strait of Hormuz, and the US granting waivers for Iranian oil exports and lifting recent sanctions. Bagheri denied discussions about transferring highly enriched uranium stockpiles. Oil prices fell nearly 4% on Monday due to the mediation news, with Iranian sources believing that a new round of US military strikes was more likely than reaching an agreement. Chinese Foreign Minister Wang Yi and the Russian Foreign Ministry called for a political solution. US President Trump has rejected Iran's original seven-step proposal and stated that there would be no new attack on Iran before the midterm elections. (Source: Reuters)

Iranian President Abu Bashar al-Pezechyan stated that the Supreme Leader has granted the government some authority in negotiations. Strategic decisions in Iran rest with the Supreme Leader, and progress in negotiations requires the unanimous approval of the Supreme Leader and the negotiating team. Iran has proposed a two-day framework plan for the conditional reopening of the Strait of Hormuz, contingent on the fulfillment of its demands regarding the lifting of the blockade, the release of frozen funds, and the easing of sanctions. (Source: IRNA)