According to @KobeissiLetter, the New York Times reported that people briefed on the Trump Administration’s Venezuela strike deliberations said initial targets could be drug-related facilities, citing the New York Times. According to @KobeissiLetter, the post also relayed that airspace above and surrounding Venezuela was suddenly closed in connection with these deliberations, citing the New York Times. According to the U.S. Energy Information Administration, Venezuela holds among the world’s largest proven oil reserves, so any perceived strike risk can lift crude risk premia and related energy equities. According to Federal Reserve research on the Geopolitical Risk Index by Caldara and Iacoviello, geopolitical risk shocks historically depress equities and raise volatility across risk assets. According to the International Monetary Fund, crypto has traded increasingly in sync with equities since 2020, implying potential BTC volatility transmission if a broader risk-off occurs.