Iran’s media has rebuked the U.S. President Donald Trump’s assertion that a peace deal with Tehran is closing-in. They even suggest the remarks were meant to ‘manipulate’ the financial markets in the run-up to SpaceX’s highly-anticipated public debut.
Iran Denies Accepting US Peace Deal
The Hormuz Letter reported that Iran’s authorities have refuted claims that a deal has been finalized and ruled out plans for a signing ceremony. The outlet cited the Fars News Agency, saying Tehran has rejected the idea of a Geneva conference in Switzerland where the two sides would meet face-to-face or attend a signing ceremony.
BREAKING: Iran rejects Trump’s plan of a weekend deal-signing ceremony with Vance, saying any plan about signing in Geneva, Switzerland or a face-to-face meeting is nothing but a “mistaken understanding of US proposals and wishes,” due to the absence of a final deal, per Fars.
— The Hormuz Letter (@HormuzLetter) June 12, 2026
Officials say it’s a “mistaken understanding of US proposals and wishes.” Moreover, they noted that no final deal has been reached.
The criticism grew louder following Trump’s announcement that Iran talks had made great strides. He even announced putting military action against Iran on hold. In a post on Truth Social, Trump stated that he “cancelled the scheduled strikes and bombings against Iran this evening” owing to progress in discussions with Tehran.
He also said that negotiations have come to the highest levels of the leadership of Iran. In addition, he announced that preliminary steps of any deal have already been approved.
Trump said that the “discussions and final points have been, in both concept and great detail, approved by all parties involved,” including US, Israel, UAE and others.
Trump Accused of Market Manipulation Ahead of SpaceX IPO
The Hormuz Letter stood in opposition to that narrative. On X, they wrote, “This is completely false. All reports claiming a deal has been reached, including Trump’s claims yesterday are market manipulation ahead of today’s SpaceX IPO.”
The outlet added that “Iran has explicitly rejected that any deal has been finalized.”
This is completely false. All reports claiming a deal has been reached, including Trump’s claims yesterday are market manipulation ahead of today’s SpaceX IPO. Iran has explicitly rejected that any deal has been finalized. https://t.co/amuukMcGxb
— The Hormuz Letter (@HormuzLetter) June 12, 2026
For further context, Trump’s announcement around the peace deal with Iran had a bullish impact on markets. Bitcoin had recovered from a period of weakness and rallied above $63,000. In such a situation, traders could have viewed Trump’s comments as a positive indicator of the lower geopolitical risk.
The news also boosted sentiment around the already hyped SpaceX IPO, which could have spurred the recent allegations from Iran’s media.
Elon Musk’s company will mark its Nasdaq debut on Friday, June 12 at an offer price of $135 for 555.6 million shares, which puts it at a valuation of around $1.77 trillion. Further, Coinbase’s pre-IPO perpetual futures are pricing in a launch around $176, which is already 30% higher than the offer price.
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