Trump Threatened Iran, Bitcoin Pumped — Here's What Actually Happened | The Weekly April 6 2026

On Easter Sunday, Donald Trump posted a profanity-laced threat on Truth Social demanding Iran open the Strait of Hormuz or face military strikes — and Bitcoin responded by pumping nearly 3% while oil spiked and equity futures dropped. This week, David Sencil and Graham Stone break down what that signal means for crypto, cover a massive $286M DeFi hack on Solana's Drift protocol linked to North Korea's Lazarus Group, unpack the Kalshi and Polymarket prediction market regulatory battles, and debate whether Google's new quantum computing research paper is real Bitcoin FUD or just Y2K 2.0.In this episode:- Trump's Easter Iran threat rattles oil and equities — Bitcoin pumps ~3% instead- Japan declares an energy emergency as Strait of Hormuz closure ripples into East Asia- Doomburg and Rory Johnson on short-term oil price spike vs. long-term collapse below $60- Polymarket faces backlash over "death market" tied to downed US airman — removes it within hours- Nevada court rules Kalshi prediction markets are indistinguishable from illegal gambling- CFTC and DOJ sue Arizona, Connecticut and Illinois to reassert federal jurisdiction over prediction markets- $286M stolen from Drift Protocol in 12 minutes — a 6-month North Korean social engineering operation- Lazarus Group agents met Drift team in person at conferences over months before executing the hack- David's take: all DeFi protocols should implement time-locks on large withdrawals- Google research paper claims breaking Bitcoin's elliptic curve cryptography needs 20x fewer qubits than previously thought- David vs Graham: Is quantum a genuine threat or just Y2K-level FUD?The Weekly | Bitcoin.com NewsChapters:00:21 - Weekly Episode Introduction00:41 - Trump's Profanity-Laced Message01:09 - Market Reactions to Trump's Message02:00 - Oil Market Reactions03:05 - Discussion on Trump's Statements04:15 - Japan's Energy Emergency05:30 - East Asia's Market Reactions06:32 - Oil Price Predictions09:07 - Prediction Markets Controversy13:08 - Legal Challenges for Prediction Markets17:54 - Solana Ecosystem DeFi Hack28:37 - Quantum Computing Threat to Bitcoin