US Treasury Secretary Scott Bessent said on Fox News on Tuesday that the United States froze a crypto wallet linked to Iran's Islamic Revolutionary Guard Corps worth $130 million, part of a campaign to track the assets of Iran's supreme leader around the world. Bessent framed the Treasury work as one prong of an 'economic fury' push against Tehran alongside a blockade. The remarks extend a Treasury campaign that has run through the war between Iran, Israel, and the United States, with the department previously sanctioning Iran's largest crypto exchange and seizing $1 billion of Iran's crypto.
Treasury Tracks Ayatollah's Global Assets
'We are tracking these accounts all over the world,' Bessent said. 'We froze a crypto wallet linked to the IRGC the other day.' He said investigators had 'found the money man for the Ayatollah' and were tracing the holdings of Ali Khamenei, including properties he valued at more than $100 million. Bessent said the Treasury hopes to publish the addresses of those properties. He cast the seizures as a transfer of value to the American people and a squeeze on the regime.
Iran's Rial Hits All-Time Low Against Dollar
Bessent described a collapse in Iran's economy. He said the rial sits at an all-time low against the dollar and called it in 'freefall,' with an inflation rate he put 'upwards of 180%.' His account tracks the rial slide that has pushed some Iranians toward bitcoin. The Treasury has not published documentation of the $130 million wallet freeze or the property addresses Bessent referenced. The inflation and currency figures came from his remarks rather than from Iranian data.
Tether Freezes $344 Million in IRGC-Linked USDT
In a separate move, the stablecoin issuer Tether froze $344 million in USDT across two blockchain addresses tied to the IRGC, one of the largest single actions in the sequence. Blockchain analysts have tied billions in on-chain flows to IRGC-linked wallets, with such wallets receiving more than $3 billion in 2025, a rise from over $2 billion the year before.
Bitcoin Use Surges in Iran Amid US-Israel Strikes
Bitcoin's design draws both sides of the fight. It settles without a correspondent bank or a reserve-currency issuer, a trait that lets Iran monetize oil access outside the dollar system and lets Treasury trace and freeze value on a public ledger. Since US and Israeli strikes on Iran began, bitcoin use inside the country has surged as residents moved value out of the banking system. Tehran, for its part, reportedly moved to accept bitcoin from tankers seeking passage through the Strait of Hormuz, a $1-per-barrel toll that turns its grip on the chokepoint into settlement revenue. The strait carries a fifth of the world's oil.
FAQ
What did the US Treasury freeze on Tuesday?
US Treasury Secretary Scott Bessent said on Fox News on Tuesday that the United States froze a crypto wallet linked to Iran's Islamic Revolutionary Guard Corps worth $130 million.
Why is the US tracking the Ayatollah's assets?
Bessent framed the Treasury work as one prong of an 'economic fury' push against Tehran alongside a blockade. He said investigators had 'found the money man for the Ayatollah' and were tracing the holdings of Ali Khamenei, including properties he valued at more than $100 million.
How much USDT did Tether freeze in IRGC-linked addresses?
The stablecoin issuer Tether froze $344 million in USDT across two blockchain addresses tied to the IRGC, one of the largest single actions in the sequence.
