President Donald Trump declared on May 11 that the US-Iran ceasefire is on “massive life support,” giving it a “1% chance of living” after dismissing Iran’s latest peace proposal as “stupid” and “a piece of garbage.” The month-old truce now looks like it’s hanging by a thread, and crypto markets are watching closely.

The rejection comes amid hints from Trump about reviving “Project Freedom,” a military initiative aimed at securing the Strait of Hormuz, and the possible resumption of bombing campaigns.

The sanctions-crypto pipeline keeps growing

On April 24, the US Treasury froze $344 million in cryptocurrency assets tied to Iranian entities. Back in February, the Treasury sanctioned crypto…