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Kuwait intercepts seven Iranian missiles as crypto markets shed $700M in liquidations

Kuwait intercepts seven Iranian missiles as crypto markets shed $700M in liquidations

Kuwait’s armed forces shot down seven ballistic missiles launched from Iran on June 6, destroying them in Kuwaiti airspace before they could reach their targets. No casualties were reported, though falling debris caused material damage in residential areas.

The crypto market’s response was swift and brutal. More than $700 million in leveraged positions were liquidated within hours of the interception, with long positions bearing the brunt of the damage.

What happened in Kuwait

The missile strikes are part of an escalating chain of hostilities between Iran and US forces stationed across the Gulf region. Iran framed the launches as retaliation against American military installations, with the Ali Al Salem Air Base…

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