- The U.S. Treasury has seized roughly $1 billion in Iranian cryptocurrency assets, doubling a previous disclosed figure.
- Treasury Secretary Scott Bessent stated the seizures are part of Operation Economic Fury, a financial pressure campaign launched in March 2025.
- Iran‘s financial state is described as dire, with inflation likely over 200% and a significant portion of troops unpaid.
- Meanwhile, Iran is reportedly weighing a Bitcoin-powered insurance scheme for the Strait of Hormuz to generate revenue.
United States Treasury Secretary Scott Bessent revealed on Friday that approximately $1 billion in Iranian cryptocurrency assets have been seized. He made the announcement while speaking at the Reagan National Economic Forum, according to a video of his remarks.
Bessent said, “Just outright grabbed the wallets.” He added that some wallet owners may be typing right now, unaware their funds are gone. These actions are part of the broader Operation Economic Fury targeting Iranian assets.
Consequently, the newly disclosed $1 billion figure is roughly double the $500 million seized in late April. It also far exceeds the $344 million in seized crypto assets disclosed earlier in the month.
However, Bessent described Iran’s financial state as dire, with inflation likely surpassing 200%. He noted that 40 to 50% of Iranian troops are not getting paid and food vouchers are being distributed.
Meanwhile, Iran is exploring alternative financial strategies. As Cointelegraph reported, the country is weighing a plan to monetize control of the Strait of Hormuz through a Bitcoin-based insurance model called “Hormuz Safe.”
This platform would sell digital marine insurance paid in Bitcoin. An Iranian export union spokesperson also said certain ships could pass by paying a $1-per-barrel tariff in Bitcoin.
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