Markets Plunge Amid Iran Stalemate

Olivia Capozzalo & Camila Russo
March 26, 2026

gm, Defiers!

Today’s news:

Bitcoin slips under $69K as U.S.-Iran peace talks stall
Obex starts deploying $1B in USDS
Ondo brings 5 Franklin Templeton ETFs on-chain
Coinbase integrates Chainlink’s DataLink
Enterprises Are Finally Moving Their Businesses Onchain: RJ Catalan of Aligned [MEDIA PARTNER]

Markets are sliding, but the builders aren't slowing down.

Bitcoin dropped below $69,000 as stalled U.S.-Iran peace talks sent oil surging and risk assets tumbling, wiping $305 million in leveraged positions.

Obex, the Sky-backed stablecoin incubator run by Framework Ventures, began deploying up to $1 billion in USDS across eight projects spanning mortgages, AI hardware, and solar energy — a bet that onchain capital can fund productive sectors beyond crypto-native yield.

Ondo Finance partnered with Franklin Templeton to tokenize five of the asset manager's ETFs, covering everything from growth equities to gold, marking the first time Templeton-managed funds are available onchain.

And Coinbase started publishing its exchange data onchain through Chainlink's DataLink service, giving DeFi protocols direct access to order book, spot, and futures data for the first time.

Read more below! But first, please give our sponsors some love; they make this newsletter possible.

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We’re back! Here’s what you need to know in web3 today

📈 Markets in the Past 24 Hours

TICKER	VALUE	24H
Bitcoin	$68,611	-3.21 %
Ethereum	$2,051.2	-5.55 %
BNB	$626.22	-3.06 %
XRP	$1.35	-4.43 %
Solana	$85.76	-6.52 %

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🎬WATCH

How the DTCC is Tokenizing $100 Trillions in Assets | Tom Sullivan

In this episode of The Defiant Podcast, Cami sits down with Tom Sullivan, Managing Director at DTCC Digital Assets.

Tom explains DTCC’s role as the trusted infrastructure behind much of the U.S. securities market, why blockchain has become a real infrastructure priority, and how tokenized assets could improve collateral mobility, settlement efficiency, and capital efficiency across global markets.

Watch the full interview:

Obex Starts Deploying $1B in USDS Into Mortgages, AI Hardware, and Solar Energy

Obex, the stablecoin incubator administered by Framework Ventures and backed by a $2.5 billion mandate from the Sky ecosystem, on Tuesday announced its inaugural cohort of eight projects and began deploying up to $1 billion in USDS across them.

Why it matters: This marks the first major move by Obex, which raised $37 million in November in a round co-led by Framework, LayerZero, and the Sky ecosystem.

Ondo Tokenizes Five Franklin Templeton ETFs

Ondo Finance has partnered with Franklin Templeton to tokenize five of the asset manager's exchange-traded funds (ETFs), spanning a range of non-crypto assets. The deal marks the first time Templeton-managed ETFs are available on-chain, extending the $1.7 trillion asset manager's blockchain footprint beyond its tokenized money market fund.

Why it matters: The structure bypasses the need for a brokerage account, targeting crypto-native investors who hold assets primarily in wallets and stablecoins.

Coinbase Brings Exchange Data Onchain via Chainlink's DataLink

Coinbase has integrated Chainlink's DataLink service to publish its premium exchange data on-chain for the first time. Through the integration, DeFi protocols can now access a range of Coinbase's datasets directly on-chain, including order book data, spot prices, perpetual futures data from Coinbase International Exchange.

Why it matters: Coinbase appears to be the first major CEX to bring its exchange data on-chain via Chainlink.