closed

When President Trump announced the initial wave of US and Israeli strikes on Iran at 8:30 a.m. CET on Saturday 28 February, marking the start of Operation Epic Fury, all traditional financial markets were closed.

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Most markets operate Monday to Friday only, meaning weekend developments, however significant, cannot be priced in until trading resumes on Monday morning, creating a bottleneck of reaction at the open.

US equities, futures, major foreign-exchange platforms, commodity markets, Asian and European bourses were all closed on Saturday.

Middle Eastern exchanges, such as those in Saudi Arabia and Qatar, opened on the second day of the conflict, as they trade Sunday to Thursday, but these attract fewer Western participants and, consequently, lack liquidity.

In the past, investors facing such a major geopolitical shock on a Saturday would have been forced to wait until US futures reopened Sunday evening to start pricing in an expectedly chaotic Monday.

Crypto never sleeps

This time, however, they had a genuine alternative — crypto-based platforms that trade 24 hours a day, 7 days a week and 365 days a year, are globally accessible and settle transactions almost instantly.

The standout choice was Hyperliquid, a decentralised perpetuals exchange that offers contracts not only on cryptocurrencies but also on real-world assets including crude oil.

According to on-chain data, trading volume on the platform spiked sharply, reaching peaks near $200mn (€172mn) in a single 24-hour period on Saturday.

The oil-linked perpetual contracts on Hyperliquid, such as OIL/USDH and USOIL/USDH, rose more than 5% almost immediately after the US-Israeli strikes were announced, providing one of the first real-time price signals before traditional markets reopened.

Hyperliquid contracts were not the only instruments drawing attention.

Tether’s XAUT, a token fully backed by physical gold held in vaults, saw its 24-hour trading volume exceed $300mn (€258mn) — a remarkable figure for a weekend.

Prediction markets such as Kalshi and Polymarket also posted massive volumes, while Bitcoin, Ethereum and other crypto tokens were sold off as proxy assets for broader negative risk sentiment.

For the first time in many observers’ memories, crypto markets were effectively “the market” during the weekend.

In a memo published on Tuesday, Matt Hougan, chief investment officer at Bitwise, described it as “the weekend that changed finance”.

Critics will point out that crypto markets remain smaller and more volatile than their traditional counterparts, and that regulatory and operational risks persist.

However, the events of the past weekend showed that on-chain finance is moving from the fringes to the core of global capital markets far faster than most forecasts anticipated even six months ago.

Traditional exchanges accelerate push for 24/7 trading

The success of crypto platforms during the Iran conflict adds to the pressure already felt by legacy financial institutions to follow suit and provide perpetually open markets.

The New York Stock Exchange, owned by Intercontinental Exchange, is actively developing a blockchain-based alternative trading system for tokenised equities and exchange-traded funds that would enable genuine 24/7 trading with instant settlement.

Announced in early 2026 and still subject to regulatory approval, the platform would combine NYSE’s existing matching engine with private blockchain networks for post-trade processing.

Trades could be funded and settled in real time using stablecoins, bypassing the T+1 settlement cycle, which dictates the transfer of securities and the corresponding payment must be completed by the next business day and still governs equity markets.

The tokenised venue has a potential launch window as early as the second quarter of 2026, with broader 22 to 23-hour weekday trading on NYSE targeted for later in the year or early 2027, subject to coordination with the SEC, DTCC and market-data providers.

Nasdaq has filed similar proposals to extend US equities trading to 23 hours a day, five days a week, with an anticipated rollout in the second half of 2026.

These moves represent a direct response to the competitive pressure exerted by always-on crypto venues and the growing frequency of market-moving events that occur outside traditional hours.

The Iran weekend served as a vivid case study.

With hedge funds and proprietary traders already active on Hyperliquid and other decentralised platforms, established exchanges recognise that failing to offer comparable access risks losing order flow permanently.

Tokenisation provides the technological bridge, allowing continuous trading while preserving existing regulatory safeguards around custody, dividends and shareholder rights.

Crypto market bill stalls despite Trump backing

While the crypto infrastructure demonstrated its resilience over the weekend, progress on the legislative front remains frustratingly slow.

The Digital Asset Market Clarity Act of 2025, known as the CLARITY Act, passed in the US Congress last year with strong bipartisan support but has since become bogged down in the Senate.

The primary sticking point is friction between the banking and crypto sectors over the treatment of stablecoin yields under the separate GENIUS Act, which established the first federal framework for stablecoin issuers.

Banks argue that yield-bearing stablecoins could drain deposits, and they have lobbied to close perceived loopholes.

Crypto proponents counter that such rewards are essential for customer retention and innovation.

On Tuesday, President Trump weighed in directly via Truth Social.

“The Genius Act is being threatened and undermined by the banks, and that is unacceptable — we are not going to allow it. The U.S. needs to get market structure done, asap.”

Moreover, President Trump further sided with the crypto sector by stating that “The banks are hitting record profits, and we are not going to allow them to undermine our powerful crypto agenda that will end up going to China, and other countries, if we don’t get the Clarity Act taken care of.”

Despite the presidential intervention and earlier White House meetings between the two industries, no resolution has been reached.

The Senate Banking and Agriculture committees continue to advance differing drafts, and a full vote remains elusive.

With the bill effectively stalled, market participants are left without the regulatory certainty many had hoped would arrive before the end of the first quarter.

The irony is not lost on observers. While crypto markets proved their worth during a real-world crisis, the very legislation designed to integrate them safely into the traditional system remains hostage to lobbying battles.

Until a resolution is achieved, the speed of innovation will continue to outstrip the pace of rulemaking — a dynamic the Iran weekend has only made more apparent.

Iran strikes energy infrastructure across the Gulf as IRGC announces closure of Strait of Hormuz.

Two Spanish islands have closed beaches due to the presence of ‘faecal contamination’ and both are in hotspots that are expecting large numbers of Brits for the Easter break

Two popular beaches on Spanish islands have been closed off due to an unpleasant, stomach-churning water issue.

Due to the presence of ‘faecal contamination’ just weeks ahead of the peak Easter season, two sandy stretches that’ll see huge numbers of visiting Brits in the coming weeks have been shut down.

The first beach to close to the public is in Playa Blanca, Lanzarote, a popular spot in the spring thanks to its warm weather. An area known locally as the ‘small beach’ closed yesterday (March 24), with reports from local news outlet Canarian Weekly showing barriers in place preventing people from entering the sea.

Officials have said in a statement that the closure will last for 48 hours while laboratory results are analysed. Tests showed an elevated level of intestinal enterococci, a type of bacteria found in human and animal gastrointestinal tracts.

However, public health officials have said that nearby beaches, including Playa Dorada and Playa Flamingo, are still open. Local government organisation Ayuntamiento de Yaiza is expected to give updates soon.

On another popular tourist island, Majorca, a beach in Cala Millor, has been closed after a broken pump led to a sewage spill. According to Majorca Daily News, locals reported seeing large amounts of wastewater running from the promenade and into the waters of Platja Petita.

The incident was reported yesterday, with the spillage continuing into the night. While the situation is now described as ‘under control’, the beach will remain closed for two to three days.

Cala Millor is found on the east coast of Majorca, and this tourist resort is particularly popular with Brits thanks to its long sandy Blue Flag beaches and large number of bars and nightclubs.

It’s not the first time the Balearic Islands’ beaches have faced closure due to contamination. Earlier this year it was revealed that incidents of ‘faecal contamination’ had doubled in 2025, with 92 cases recorded in 2025 alone.

Of the 92 incidents, 20 resulted in bans on swimming and bathing, while the other 72 led to advisories that warned visitors not to enter the water.

While a recent report by the Marilles Foundation showed that, overall, 70% of the Balearics’ beaches received an excellent rating for water quality, the figures varied between islands. In the little-visited island of Formentera, 100% of its beaches were rated as excellent, and in Menorca, the figure was 80%. In Ibiza, 63% were excellent, while 32% had a good rating and 5% were sufficient. According to the report, all the areas of insufficient water quality were in Majorca, highlighting Albercuix in Pollensa and Cala Egos in Santanyí as two particular areas of concern.

READ MORE: Five beautiful countries that will pay Brits up to £70,000 to move thereREAD MORE: Unspoilt English town with cobbled lanes and independent shops is like stepping back in time

The foundation, who raise awareness of marine conservation, has recommended tighter monitoring of the number of beachgoers and boats. At the moment, only Menorca keeps track of numbers, although plans over the next three years are to implement a new project using sensors to monitor numbers at 150 beaches, which is set to cost the islands €4 million (about £3.5 million).

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ONE of the UK’s most popular beaches has been forced to close to the public indefinitely.

Access to Durdle Door beach, famous for its unique rock formation and fossil hunting, remains shut until further notice due to storm damage.

The beach on the Jurassic Coast has been closed after storms destroyed part of the steps.

The bottom section was swept away leaving a steep drop.

Lulworth Estate announced that the path to Durdle Door beach has been temporarily closed for “public safety”.

A spokesperson told the BBC: “Weather conditions may continue to affect the coastline and the Lulworth Estate team encourages everyone to exercise caution and respect temporary closures put in place for public safety.”

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Visitor access to nearby Man O’ War beach remains open.

Lulworth Estate said storms had resulted in “significant disruption to coastal access” and the safety of visitors remained its “highest priority”.

There’s no timeline for the reopening of the path – but Lulworth Estate said it would provide updates.

The beach is a popular spot with approximately 500,000 visitors going to see the impressive coastline every year.

Last summer, Durdle Door was named by National Geographic in the list of must-see beaches, which includes some in Australia and the Seychelles.

National Geographic declared Durdle Door as a beach “worth travelling for” because of its “showstopper” shore and rock formations.

Some have even compared Durdle Door to beaches overseas.

One person wrote on Tripadvisor: “Lulworth Cove and Durdle Door: Reminded me of the Algarve in Portugal!”

Another added: “You don’t feel like you are in the UK. It seems more like Portugal or California.”

Assistant Travel Editor Sophie Swietochowski reveals what it’s actually like to visit Durdle Door – and why you should visit when it’s back open.

She said: “Despite the Jurassic Coast being one of the most well-known spots for rambling in the UK, it has managed to remain gloriously peaceful.

“I barely passed another soul during a Sunday hike along the rugged coastal path above Durdle Door a few years back – only a herd of cows munching on the unkempt grass at the top of the cliff.

“Admittedly, things grew a little busier as I approached Lulworth Cove. But that’s no surprise with a horseshoe-shaped pebble bay and turquoise waters that could rival those in the Caribbean.

“Make sure to wander over to Fossil Forest while you’re here too, where you can observe ripples of an ancient sea floor within the rocks and fossilised remains of old tree stumps that date back to the dinosaur era.”

For more beaches, here are our 26 must-visit ones for 2026 – including tropical-feel spots and family-friendly finds.

And here are five British beaches that are even better in winter – with warmer waters, most sunshine hours and no tourists.

NEW YORK — JPMorgan Chase acknowledged for the first time that it closed the bank accounts of Donald Trump and several of his businesses in the aftermath of the Jan. 6, 2021, attacks on the U.S. Capitol, the latest development in a legal saga between the president and the nation’s biggest bank over the issue known as “debanking.”

The acknowledgment came in a court filing submitted this week in Trump’s lawsuit against the bank and its leader, Jamie Dimon. The president sued for $5 billion, alleging that his accounts were closed for political reasons, disrupting his business operations.

“In February 2021, JPMorgan informed Plaintiffs that certain accounts maintained with JPMorgan’s CB and PB would be closed,” JPMorgan’s former chief administrative officer Dan Wilkening wrote in the court filing. The “PB” and “CB” stands for JPMorgan’s private bank and commercial bank.

Until now, JPMorgan has never admitted it closed the president’s accounts in writing after Jan. 6. The bank would only speak hypothetically about when the bank closes accounts and its reasons for closing accounts, citing bank privacy laws.

A spokeswoman for the bank declined to comment beyond what the bank said in its legal filings.

Trump originally sued JPMorgan in Florida state court, where the president’s primary residence is now located. The filings this week are part of an effort by JPMorgan Chase to have the case moved from state to federal court and to have the jurisdiction of the case moved to New York, which is where the bank accounts were located and where Trump kept much of his business operations until recently.

Trump originally accused the bank of trade libel and violating state and federal unfair and deceptive trade practices.

In the original lawsuit, Trump said he tried to raise the issue personally with Dimon after the bank sent him notices that JPMorgan would close his accounts, and that Dimon assured Trump he would figure out what was happening. The lawsuit alleges Dimon failed to follow up with Trump.

Further, Trump’s lawyers allege that JPMorgan placed the president and his companies on a reputational “blacklist” that both JPMorgan and other banks use to keep clients from opening accounts with them in the future. The blacklist has yet to be defined by the president’s lawyers.

“If and when Plaintiffs explain what they mean by this ‘blacklist,’ JPMorgan will respond accordingly,” the bank’s lawyers said in a filing.

JPMorgan has previously said that although it regrets that Trump felt the need to sue the bank, the lawsuit has no merit.

The issue of debanking is at the center of the case. Debanking occurs when a bank closes the accounts of a customer or refuses to do business with a customer in the form of loans or other services. Once a relatively obscure issue in finance, debanking has become a politically charged issue in recent years, with conservative politicians arguing that banks have discriminated against them and their affiliated interests.

“In a devastating concession that proves President Trump’s entire claim, JPMorgan Chase admitted to unlawfully and intentionally de-banking President Trump, his family, and his businesses, causing overwhelming financial harm,” the president’s lawyers said in a statement. “President Trump is standing up for all those wrongly debanked by JPMorgan Chase and its cohorts, and will see this case to a just and proper conclusion.”

Debanking first became a national issue when conservatives accused the Obama administration of pressuring banks to stop extending services to gun stores and payday lenders under “Operation Choke Point.”

Trump and other conservative figures have alleged that banks cut them off from their accounts under the umbrella term of “reputational risk” after the Jan. 6, 2021, attack on the U.S. Capitol. Trump was impeached on a charge of inciting insurrection on Jan. 6, though not convicted in the Senate; and he was criminally indicted for his role in the riot and his attempt to overturn his 2020 election defeat, but that case was dismissed after he won the 2024 election.

Since Trump came back into office, the president’s banking regulators have moved to stop any banks from using “reputational risk” as a reason for denying service to customers.

This is not the first lawsuit Trump has filed against a big bank alleging that he was debanked. The Trump Organization sued credit card giant Capital One in March 2025 for similar reasons and allegations. The case is ongoing.

Sweet writes for the Associated Press.

ONE popular lido could be sold to save thousands of pounds – and remain closed for good.

The outdoor pool in Teignmouth is set to close, and locals are worried that it may never open its doors again.

Teignbridge Council recently announced its plan to close the town’s beachfront lido in a bid to save money.

Officials said not reopening Teignmouth Lido could save £74,000 in 2026.

The news hasn’t been well received by locals who want the lido to remain open.

Talking to ITV News, Catherine Brown, a lifeguard supervisor, said: “It has a huge amount of value to people of all ages and all groups, people bring their kids to swim, their grandkids to swim, disabled people can come here to swim.

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“It doesn’t matter whether it’s raining or sunshine, it’s such a lovely place and everybody comes out with a smile on their face.”

A report said the number of swimmers using the pool was 8,224 in 2024 – this number increased in 2025.

Teignmouth Lido operates as a seasonal site which opens for the May half-term.

It has partial opening hours in June and July and then opens full time for the summer holidays.

The 25-metre pool is heated and holds public swims, fun sessions, as well as water-based activities like aqua fit and aqua circuits.

Four years ago, the pool underwent a refurbishment of £800,000 and then a further £30,000 was spent on repairs, according to Local Democracy Reporting Service.

Members of the council will hold a closed meeting on February 21, 2026.

They will vote on a proposal to dispose of the lido on the open market, without restrictions on its future use – meaning it could no longer be used as a lido.

But if the pool does go up for sale, the local community has an opportunity to draw up a bid to buy it.

This is because the pool was listed as an official Asset of Community Value in 2025.

Save the Lido – Teignmouth is hoping to do exactly that.

Daniel O’Connel, the co-founder of the campaign told ITV News: “We can look now to get things in motion to acquire the asset for the community and the people of Teignbridge.”

One Travel Writer who grew up in the area has her say on the potential closure…

Travel Reporter Cyann Fielding weighs in on the potential closure of the pool…

“Teignmouth Lido is more than just a gem on the South West coast; for me, it’s the backdrop of my childhood.

“For over a decade, my school summer holidays were defined by afternoons spent there with my family – so to hear that the lido could close is heartbreaking.

“With ample patio and sun-drenched patches of grass surrounding the 25-metre crystal clear pool, it was the rare kind of place where parents could relax while kids felt a bit of freedom.

“For local families, it was an affordable but brilliant day out.

“To lose the lido now, after a £800,000 refurb less than three years ago, it wouldn’t just be a loss for Teignmouth and its community but also a tragic waste of money.”

Here’s more on a lido that could potentially open in one seaside town that hopes to bring back a swimming pool 50 years after it was destroyed.

Plus, here are all the lidos in the UK mapped – with water slides, cocktail bars and some are even FREE to enter.