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On April 2nd, the White House announced President Trump will address the nation at 9 p.m. Eastern Time (ET) on April 1st regarding Iran’s Operation Epic Fury, delivering an “important update.” Prior to the address, White House officials hinted the U.S. military operation has “met or exceeded benchmarks” and will reiterate the timeline to wrap up the operation within two to three weeks. Against this backdrop, markets reacted positively: stock indices rebounded, oil prices fell. The mainstream narrative frames the address as a key signal of risk mitigation. But the White House also stressed allies need to contribute more “in effort and financially,” shifting from “the U.S. can handle it” to urging allies to take responsibility. This has sparked speculation it may be a prelude to external negotiations, not just a simple final declaration. Trump recently criticized some NATO allies for not joining the action and hinted the U.S. may reassess its NATO role. The mainstream view sees the

April 2 – Spot gold climbed 0.8% intraday, briefly topping $4,800 an ounce to notch a fifth straight gain. Market analysts cite a confluence of geopolitical tensions and policy expectations as driving continued safe-haven fund inflows into gold. On the news front, former President Trump is set to announce during gold trading hours that U.S. military action against Iran has “achieved all objectives,” signaling the end of the conflict and laying groundwork for a gradual U.S. withdrawal. Separately, the U.S. may transfer oversight of shipping in the Strait of Hormuz to NATO, European nations, and Gulf countries—indicating Washington is seeking a “dignified exit” path. Against a backdrop of ongoing Iranian restrictions on Strait navigation and international oil prices topping $100 a barrel, market concerns over Middle East uncertainty and energy shocks are mounting. Combined with policy tensions and alliance rifts amid expectations the war is winding down, stronger safe-haven demand

April 2 (Financial Times) — Sources revealed that former U.S. President Donald Trump threatened to halt weapons supplies to Ukraine unless European nations joined the Strait of Hormuz Alliance. Last month, Trump requested NATO navies to help reopen the strait, but European governments rejected the proposal. Three officials familiar with the discussions said Trump responded by threatening to cut off support for the "Prioritized Ukraine Resilience on Land" (PURL) project. Under pressure from NATO Secretary-General Jens Stoltenberg, key member states including France, Germany and the UK rushed to issue a joint statement on March 19, stating: "We are prepared to make an appropriate contribution to ensure safe passage through the Strait of Hormuz." One official familiar with the talks noted: "Stoltenberg pushed for this joint statement because Trump had threatened to withdraw from the Transatlantic Partnership Alliance and fully pull out of Ukrainian affairs." (Golden Finance)

April 2 – Per The New York Times, U.S. officials confirmed that multiple U.S. intelligence agencies have recently assessed the Iranian government is currently unwilling to engage in substantive negotiations to end the U.S.-Iran war. The assessment concludes Iran views itself in a strong position in the conflict and has no need to comply with U.S. diplomatic requests, officials said. Iran is willing to keep lines of communication open, they added, but it does not trust the U.S. and believes former President Trump was not sincere in negotiations. Trump twice ordered strikes against Iran during nuclear program talks over the past year. These assessments align with recent statements from Iranian officials. U.S. and Iranian officials have noted the two sides are exchanging messages via intermediaries and possibly direct channels, but have not negotiated ceasefire or war-ending terms. (FXStreet)

**April 2 — Breaking: Latest U.S.-Iran Conflict Developments Overnight & This Morning** ### Iran - The Iranian military claims to have struck an Israeli military company, advancing **Operation True Commitment-4** to its 89th round. Officials say the conflict has damaged over 115,000 civilian facilities. - Iran continues missile/drone attacks on Israeli and U.S. military bases, stating targets include pressuring the U.S. to withdraw from the Middle East. - The Islamic Revolutionary Guard Corps (IRGC) says the Strait of Hormuz will remain closed in response to Donald Trump’s remarks; Iranian officials add navigation will not resume for U.S. vessels even if reopened. - Iran’s foreign minister stresses no ceasefire acceptance, demanding guarantees to prevent future conflicts. - Iran claims U.S./Israeli forces targeted its meteorological radar facilities, leaving senior advisers seriously injured; denies reports of a “ceasefire request.” ### U.S. - Reports indicate Trump h

April 2: Solana DeFi protocol Drift Protocol was hacked this morning. Preliminary estimates indicate roughly $220 million to $270 million in assets were suspiciously transferred to the address HkGz4K. Subsequently, some of the stolen assets were bridged to Ethereum to purchase ETH—19,913 ETH has been acquired so far, totaling $42.6 million. The attacker also converted a portion of the stolen SOL to ETH on Hyperliquid and transferred additional stolen SOL to Binance. Current on-chain data shows Drift Protocol’s total value locked (TVL) has plummeted to $255 million, a sharp drop from its pre-hack TVL of $534 million.