Nearly $1 Billion In Iranian Crypto Falls Into US Hands
The US has quietly seized about $1 billion in cryptocurrency tied to Iran, according to Treasury Secretary Scott Bessent, nearly triple earlier estimates. The seizures are part of Operation Economic Fury, launched in March 2025, which targets Iranian finances through bank freezes, property seizures with European allies, and crypto asset grabs. Bessent said Iran’s economy is under severe strain, with inflation possibly above 200%, food vouchers being distributed, internet disruptions, and 40% to 50% of troops unpaid. He said Iran previously relied on $400 million to $500 million a month for a small circle of leaders, but that flow has been disrupted. Meanwhile, Iran is reportedly exploring new crypto-based revenue sources, including a Bitcoin-paid marine insurance platform for ships in the Strait of Hormuz that could potentially raise over $10 billion.
