“Project Freedom” back on track as Saudi Arabia, Kuwait lift airspace and military base ban, equity markets fall

Saudi Arabia and Kuwait lifted bans on U.S. military use of their bases and airspace, removing the main obstacle to restarting Project Freedom (U.S. naval escorts through the Strait of Hormuz); the reversal came days after both briefly blocked U.S. access. Crypto impact is indirect and limited: geopolitical de‑escalation may reduce short‑term safe‑haven flows into crypto and lower volatility tied to oil/FX risk, but there is no direct effect on DeFi, DEX/CEX operations, fundraising, token launches, protocol security, or adoption.