US Seizes $344 Million in Cryptocurrency Tied to Iran
As diplomatic talks to end the war stall, the U.S. has intensified economic pressure on Tehran by freezing $344 million in cryptocurrency, according to reports from CNN. The Trump administration claims the funds are connected to Iran, marking another step in its strategy to disrupt the regime’s financial activities.
Tether, a global digital currency facilitator, disclosed that it aided U.S. authorities in blocking $344 million across two accounts. This followed data shared by U.S. agencies about transactions linked to unauthorized activities. A government official confirmed the currency’s ties to Iran, noting that blockchain analysts identified exchanges and wallets associated with the Central Bank of Iran.
“We are sanctioning multiple wallets tied to Iran,” said Treasury Secretary Scott Bessent. “The goal is to track and intercept all financial pathways the regime relies on.”
The Iranian delegation at the United Nations did not respond to the allegations. Meanwhile, Chainalysis reported that Iran’s cryptocurrency reserves hit $7.8 billion in 2025, growing faster than in the previous year. The Islamic Revolutionary Guard Corps (IRGC) held about half of these assets, reflecting its economic influence.
Daniel Tannebaum, a fellow at the Atlantic Council, emphasized that while the asset freeze is significant, it may not drastically alter Iran’s ability to sustain its operations in the conflict. “Iran has adapted to sanctions over decades,” he explained. “The real challenge lies in targeting third-country partners like China that enable its activities.”
Earlier this year, cyberattacks attributed to Israel reportedly siphoned around $90 million from Iran’s largest crypto exchange. This incident highlights the growing use of digital assets by Iran to circumvent traditional financial restrictions. The Treasury also sanctioned a Chinese teapot refinery for its role in purchasing Iranian oil, further tightening the grip on the country’s financial networks.
