(1st UPDATE) Two Iranian missiles shot at Kuwait fell short or broke apart in flight, while several ballistic missiles aimed at regional targets failed and three(1st UPDATE) Two Iranian missiles shot at Kuwait fell short or broke apart in flight, while several ballistic missiles aimed at regional targets failed and three

Hostilities flare in Iran war, oil jumps with talks at a stalemate

2026/06/03 06:06
5 min read
For feedback or concerns regarding this content, please contact us at [email protected]

Gulf hostilities flared anew on Wednesday, June 3, with the US military saying Iranian missile attacks on Bahrain, Kuwait, and other regional targets were either thwarted or failed, as diplomacy between Washington and Tehran showed little progress.

Two Iranian missiles shot at Kuwait fell short or broke apart in flight, while several ballistic missiles aimed at regional targets failed and three missiles heading for Bahrain were intercepted, US Central Command said.

Since the conflict began in late February, Iran has repeatedly attacked targets in the Gulf region where US military bases are located.

Central Command said the US military also downed Iranian drones targeting civilian ships in regional waters and US forces in Kuwait, and carried out strikes on Qeshm Island near the Strait of Hormuz following attempted attacks by Iran.

According to Iranian state media, the country’s Revolutionary Guards Corps (IRGC) attacked the US Fifth Fleet headquarters, located in Bahrain, as well as an airbase and helicopters in an unspecified regional country using missiles and drones in response to what the IRGC described as a US attack on a communications tower south of Qeshm.

Central Command said all the attacks failed and that US forces remained ready to repel “unwarranted Iranian aggression.”

The latest flare-up, which lifted oil prices by more than 1% in early trade on Wednesday, comes more than three months after the initial US and Israeli strikes on Iran, with the conflict mired in a stalemate under a shaky ceasefire and the Strait of Hormuz largely closed to maritime traffic.

Iran and the US said last week that they had reached a tentative initial agreement to halt the war. But the two sides have yet to sign off on the deal.

Iranian media reported that Tehran has not communicated with Washington for several days, but US President Donald Trump said negotiations have not stopped.

“The conversations between us have been going on continuously, including four days ago, three days ago, two days ago, one day ago, and today,” he said in a social media post.

Discussions on nuclear program

Since mid-March, Trump has repeatedly said he is close to a deal that would end the fighting and allow negotiators to tackle thorny issues including the future of Iran’s nuclear program.

Trump has said stopping Iran from acquiring nuclear weapons is his top priority. Iran denies it is developing a nuclear bomb and says its atomic program is for peaceful purposes.

Tehran is seeking access to billions of dollars in oil revenues, waivers on crude exports, a lifting of a US blockade on its ports and continued leverage over the strait, which handled a fifth of the world’s oil and liquefied natural gas traffic before the war.

Iranian media said the IRGC’s navy targeted a vessel it identified as “Panaya” with missiles in response to what it said was a US attack on an Iranian tanker near Hormuz.

“Disrupting the security of the Strait of Hormuz will carry a heavy price for the US military,” Iranian media cited the IRGC as saying.

US Secretary of State Marco Rubio told lawmakers on Tuesday that the US would agree to sanctions relief only if Iran agrees to give up its nuclear activity.

Rubio declared, “The war is over,” during a sharp exchange with Democratic Senator Cory Booker of New Jersey, who disagreed.

Israel keeps up strikes in Lebanon

The war that began on February 28 has killed thousands of people, mainly in Iran and Lebanon, while also causing global economic pain ⁠by pushing up energy prices.

It also triggered the latest round of conflict between Israel and Lebanese militant group Hezbollah, with Israel pursuing its deepest incursion into Lebanon in 25 years.

On Tuesday, Israel kept up strikes on a string of towns in southern Lebanon, Lebanese security sources said, despite a U.S.-mediated partial ceasefire announced on Monday.

The announcement failed to reassure many Lebanese, 1.2 million of whom have been displaced, and an Israeli drone over Beirut kept residents on edge on Tuesday.

“Every time we return to our homes, there is a warning for us to be displaced again,” said Faten Al Chehime, who fled to a displacement camp from her home in Beirut’s southern suburbs on Monday, only two weeks after returning there.

At sea, the world’s largest shipping group MSC said on Tuesday that one of its vessels was struck by two projectiles while in Iraq’s Umm Qasr port the previous day.

The IRGC said it carried out the attack in retaliation for a US attack on an Iranian vessel in the Gulf of Oman.

The wide-reaching impact of the crisis was laid bare by UN children’s agency UNICEF, which said surging transport costs and supply chain disruptions were hindering life-saving aid for Gaza, Lebanon, Democratic Republic of Congo, Mali, Somalia, South Sudan, Nigeria and elsewhere. – Rappler.com

Market Opportunity
three.ws Logo
three.ws Price(THREE)
$0.012495
$0.012495$0.012495
+154.27%
USD
three.ws (THREE) Live Price Chart

SPACEX(PRE) Launchpad

SPACEX(PRE) LaunchpadSPACEX(PRE) Launchpad

Register for a chance to win a free lucky draw

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Pi Network V26 Shock Prediction Could Change Pi Coin Forever

Pi Network V26 Shock Prediction Could Change Pi Coin Forever

Pi Network V26 Shock Prediction Could Change Pi Coin Forever Pi Network is once again becoming one of the hottest topics in the crypto world after growing
Share
Hokanews2026/06/04 18:44
USDH Power Struggle Ignites Stablecoin “Bidding Wars” Across DeFi: Bloomberg

USDH Power Struggle Ignites Stablecoin “Bidding Wars” Across DeFi: Bloomberg

A heated contest for control over a new dollar-pegged token has set the stage for what analysts say could define the next phase of the stablecoin industry. According to Bloomberg, a bidding war unfolded on Hyperliquid, one of crypto’s fastest-growing trading platforms, with the prize being the right to issue USDH, its native stablecoin. The competition drew some of the sector’s most prominent names, including Paxos, Sky, and Ethena, who later withdrew their bid, alongside the lesser-known Native Markets, a startup backed by Stripe stablecoin subsidiary Bridge. Hyperliquid Stablecoin Race Shows Branding and Partnerships Matter as Much as Tech Over the weekend, Hyperliquid’s validators, the contributors who secure the network and vote on key decisions, awarded the USDH contract to Native Markets over the weekend. Despite its relatively new status, the firm’s connection with Stripe helped it outpace more established rivals. Stablecoins underpin decentralized finance by providing a dollar-backed medium for collateral, settlement, and payments across applications. What began as a grassroots, community-led sector has evolved into a battleground for institutions and payment companies seeking revenue from interest on reserves. Circle, for example, shares proceeds from its USDC with Coinbase under a partnership designed to stabilize earnings during market swings. The Hyperliquid contest offered a rare glimpse into just how intense competition has become. Paxos pledged to take no revenue until USDH surpassed $1 billion in circulation. Agora offered to share 100% of net revenue with Hyperliquid, while Ethena put forward 95%. All were outbid by Native Markets, whose ties to Stripe’s $1.1 billion acquisition of Bridge and subsequent rollout of the Tempo blockchain positioned it as a strong contender. “Every stablecoin issuer is extremely desperate for supply,” said Zaheer Ebtikar, co-founder of Split Capital. “They are willing to publicly announce how much they are willing to offer. It just shows it’s a very tough business for stablecoin issuers.” While USDC remains dominant on Hyperliquid with more than $5.6 billion in deposits, the arrival of USDH could shift flows and revenue dynamics. Paxos co-founder Bhau Kotecha said the firm sees the exchange’s growth as an important opportunity, while Agora’s co-founder Nick van Eck warned that awarding the contract to a vertically integrated issuer risked undermining decentralization. Regulatory positioning also factored into the debate. Paxos operates under a New York trust charter and is seeking a federal license, while Bridge holds money transmitter approvals in 30 states. Native Markets, in a blog post, cited regulatory flexibility and deployment speed as reasons for its selection. Hyperliquid said the strong engagement from its community validated the process. Circle CEO Jeremy Allaire dismissed concerns over USDC’s status, noting on X that competition benefits the ecosystem. Analysts suggested that fears of centralization may be exaggerated, noting that Hyperliquid is likely to remain neutral and support multiple stablecoins. Still, the contest over USDH highlighted a new reality for stablecoins: branding, partnerships, and business strategy are becoming as decisive as technology. Native Markets Secures USDH Stablecoin Mandate on Hyperliquid Hyperliquid has concluded its governance vote for the USDH stablecoin, awarding the mandate to Native Markets after a closely watched process that drew weeks of community debate and rival proposals. USDH, described by Hyperliquid as a “Hyperliquid-first, compliant, and natively minted” dollar-backed token, is intended to reduce the platform’s dependence on USDC and strengthen its spot markets. Validators on the decentralized exchange voted in favor of Native Markets, a relatively new player backed by Stripe’s Bridge subsidiary, over established contenders including Paxos and Ethena. The outcome followed a string of proposals offering aggressive revenue-sharing terms to win validator support, underscoring the scale of incentives attached to controlling USDH. Hyperliquid’s exchange has become a critical hub for stablecoin liquidity, with $5.7 billion in USDC, around 8% of its total supply, currently held on the network. At prevailing treasury yields, that translates to an estimated $200 million to $220 million in annual revenue for Circle, underlining why a native alternative could be transformative. Hyperliquid’s validators, who secure the network and vote on key decisions, selected Native Markets following an on-chain governance process that concluded September 15. Native Markets has laid out a phased rollout for USDH, beginning with capped minting and redemption trials before expanding into spot markets. Its reserves will be managed in cash and treasuries by BlackRock, with on-chain tokenization through Superstate and Bridge. Yield from those reserves will be split between Hyperliquid’s Assistance Fund and ecosystem development. The launch of USDH comes as Hyperliquid records record profits from perpetual futures trading, with $106 million in revenue in August alone, and prepares to slash spot trading fees by 80% to bolster liquidity. Analysts say the move positions Hyperliquid to capture more of the stablecoin economics internally, marking a significant step in its bid to rival the largest players in decentralized finance
Share
CryptoNews2025/09/18 00:48
Strategy Didn’t Sell Bitcoin in May, According to Polymarket

Strategy Didn’t Sell Bitcoin in May, According to Polymarket

Strategy's sale of 32 BTC in May sparked one of the most contentious debates around Polymarket's resolution criteria.
Share
CryptoPotato2026/06/04 18:13

RealStocks Now Live

RealStocks Now LiveRealStocks Now Live

Trade real U.S. stock via regulated brokerage