TLDR

MARKET RECAP → Stocks lowered throughout Tuesday as investors took into account recent developments in the Middle East, as conflict between Israel and Iran continues. In the crypto realm Bitcoin (BTC) decreased following the same rationale as stocks. $BTC.X ( ▼ 3.81% ) 

TRUMP THREATENS IRAN, BACKS ISRAEL: Markets flinched after Trump demanded Tehran’s surrender and backed Israel’s strikes. Oil jumped—then cooled—as Wall Street tried to price in peace or more chaos.

RAMP'S $16 BILLION LEAP → Ramp raised $150 million at a $16 billion valuation, led by Peter Thiel’s Founders Fund, as it doubles down on growth and expands beyond corporate cards.

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Politics

Trump Escalates Iran Threat

Trump Issues Tehran Ultimatum. Former President Donald Trump called for Iran’s “unconditional surrender” and urged civilians to evacuate Tehran, warning that Ayatollah Khamenei is “not off-limits forever.” While stopping short of ordering U.S. strikes, Trump backed Israel’s military actions and left the door open for diplomacy.

Middle East Escalation Rattles Nerves. Israel’s airstrikes on Iranian nuclear and drone sites—and the killing of a top commander—drew Trump’s support but raised fears of broader regional conflict. Despite talk of potential peace envoys, including JD Vance or Steve Witkoff, tensions remain high.

Markets Watch, Oil Reacts. Oil prices spiked nearly 3% on fears surrounding Tehran and the Strait of Hormuz, then cooled slightly. Markets slipped as investors balanced geopolitical risk with hopes the situation won’t spiral further.

TECH

Ramp's $16 Billion Leap

Ramp just locked in a $16 billion valuation. The corporate card and spend management startup raised $150 million in a deal led by Peter Thiel’s Founders Fund, with existing investors including Sequoia Capital, Khosla Ventures, and Thrive Capital participating. The new valuation marks a significant jump from its $8 billion valuation in 2023, defying the broader fintech funding slowdown.

Rapid growth, but profitability still out of reach. Ramp’s annualized revenue has doubled over the past year, according to CEO Eric Glyman. But like many high-growth fintechs, Ramp isn’t yet profitable, as it continues to invest heavily in expansion and product development.

Expanding beyond cards into full financial stack. Ramp now offers procurement tools, bill payments, and accounting integrations, aiming to become a complete finance automation platform. The fresh funding will help it fend off competitors like Brex and traditional players such as AmEx (AXP) while scaling its product suite.

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