Iran’s Foreign Minister Abbas Araghchi has confirmed direct contact with US special envoy Steve Witkoff, setting off a chain of diplomatic events that crypto traders have been tracking as closely as any on-chain metric.
The talks, which Araghchi initially framed as informal message exchanges rather than formal negotiations, have since evolved into something considerably more structured. Multiple rounds of mediated discussions took place across Islamabad, Doha, and Switzerland, culminating in a digitally signed memorandum of understanding around June 15 that outlines a 60-day ceasefire, provisions for easing sanctions on Iranian oil exports, and terms governing access to the Strait of Hormuz.
