Treasury Secretary: US Targeting $1B in Crypto Linked to Iran
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US Plans to Seize $1B in Crypto Linked to Iran
US Treasury Secretary Scott Bessent announced that the country intends to seize approximately $1 billion in cryptocurrency linked to Iran this week. This move is part of the US sanctions strategy against Iran, amidst the ongoing military conflict. Bessent, speaking at the Newsmax Policy Summit, did not specify whether the targeted assets were from specific exchanges or stablecoin issuers.
"We know where it is, and we are isolating them," Bessent told Newsmax's Greta Van Susteren.
The Treasury Department's Office of Foreign Assets Control (OFAC) had previously targeted crypto exchanges facilitating funds to Iran's Islamic Revolutionary Guard Corps. In August, they announced sanctions, and Bessent confirmed the US would increase economic pressure on Iran, targeting financial networks supporting the regime.
This claim echoes a similar statement by Bessent in April, where he revealed the seizure of $500 million in crypto tied to Iran. Stablecoin issuer Tether also reported freezing $550 million of USDt (USDT) in 2026 as part of US sanctions, including $344 million in April alone.