Scott Bessent · U.S. Treasury · U.S. · The Block
In July, Treasury introduced wallet sanctions that resulted in $130 million being frozen
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The U.S. has also sanctioned several Iranian crypto exchanges.
Key facts
- Treasury Secretary Scott Bessent said the United States will "probably" seize $1 billion in crypto tied to Iran this week as the Trump administration carries out an economic isolation campaign
- In May, Bessent said the U.S. had seized about $1 billion in Iranian crypto, saying authorities "outright grabbed the wallets
- In July, Treasury announced wallet sanctions that resulted in $130 million being frozen
- However, a Treasury release shortly after the comment cited the earlier estimate of nearly $500 million
Summary
Treasury Secretary Scott Bessent said the United States will "probably" seize $1 billion in crypto tied to Iran this week as the Trump administration carries out an economic isolation campaign against the country. "We’re probably gonna seize a billion dollars of crypto this week," Bessent told Greta Van Susteren at Newsmax’s NPolicy Summit in Washington on Thursday. It's part of what he called an "absolute isolation campaign," covering Strait of Hormuz blockades, restrictions on international flights, and closing off Iran's land routes with neighboring countries. The latest blitz follows months of U.S. actions against Iran-linked cryptocurrency and exchanges, though the total value of crypto seized is unclear. In May, Bessent said the U.S. had seized about $1 billion in Iranian crypto, saying authorities "outright grabbed the wallets.