Seizes Nearly $1 Billion in Iranian Crypto Assets, Treasury Secretary Says

U.S. Treasury Secretary Scott Bessent said the United States has seized roughly $1 billion in Iranian crypto assets, double the figure disclosed in late April. The seizures are part of Operation Economic Fury, launched in March 2025 to pressure Iran by targeting cryptocurrency holdings, freezing bank accounts and coordinating with European allies to confiscate properties. Bessent described a rapid campaign, noting some wallet owners may not yet realize their funds have been taken. The administration asserts significant financial pressure on Iran, including estimates that inflation may exceed 200 percent and vast government subsidies and payrolls are disrupted.

The new figure complements earlier disclosures and comes amid ongoing negotiations with Iran. Analysts note the possibility of a Bitcoin-based insurance scheme for the Strait of Hormuz, described in state-linked outlets, which could generate substantial revenue if implemented. The broader context shows a concerted effort to choke Iran’s financial channels after sanctions and military actions in the region.